Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 310

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 8
Chunk 310
---
35.312.811.35.3Weighted-average interest accretion rate5.6%5.4%5.1%5.5%5.4%5.0%Current discount rate5.6%5.5%5.1%4.9%4.8%4.7%Gross premiums or assessments recognized during period$479 $— $353 $496 $— $363 Expected future gross premiums, undiscounted7,548 — 11,343 7,379 — 12,388 Expected future gross premiums, discounted(a)4,745 — 5,205 4,895 — 5,800 Expected future benefit payments, undiscounted62,001 18,589 10,336 63,126 19,291 11,202 Expected future benefit payments, discounted(a)28,820 8,426 5,336 30,895 9,357 5,921 (a) Determined using the current discount rate as of December 31, 2024 and 2023.Our 2024 and 2023 annual reviews of future policy benefit reserves cash flow assumptions resulted in immaterial charges to net earnings, indicating claims experience continues to develop consistently with our models.

56 2024 FORM 10-K

Included in Insurance losses and annuity benefits in our Statement of Earnings (Loss) for the years ended December 31, 2024 and 2023 are favorable and unfavorable pre-tax adjustments of $196 million and $(155) million, respectively, from updating the net premium ratio (i.e., the percentage of projected gross premiums required to cover expected policy benefits and related expenses) after updating for actual historical experience each quarter and updating of future cash flow assumptions. Included in these amounts for the years ended December 31, 2024 and 2023, are unfavorable adjustments of $109 million and $335 million, respectively, due to insufficient gross premiums (i.e., net premium ratio exceeded 100%), related to certain cohorts in our long-term care and life insurance portfolios. These adjustments are primarily attributable to increases in the net premium ratio as a result of updating future cash flow assumptions on cohorts where the beginning of the period net premium ratio exceeded 100%.As of December 31, 2024 and 2023, policyholders account balances totaled $1,574 million and $1,725 million, respectively. As our