Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 204

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 1
Chunk 204
---
 218 1,454 454 232 Benefit payments(1,443)(664)(430)(1,278)(687)(508)Effect of foreign currency— — (246)— — 67 Ending balance at locked-in discount rate27,448 8,301 5,411 27,144 8,561 5,847   Effect of changes in discount rate assumptions1,371 125 (76)3,752 797 74 Balance, end of year$28,820 $8,426 $5,336 $30,895 $9,357 $5,921 Net future policy benefit reserves$24,675 $8,426 $1,018 $26,832 $9,357 $1,117 Less: Reinsurance recoverables, net of allowance for credit losses(169)— (32)(166)— (33)Net future policy benefit reserves, after reinsurance recoverables$24,507 $8,426 $985 $26,666 $9,357 $1,084 Weighted-average duration of liability (years)(a)11.710.35.312.811.35.3Weighted-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