Company: GE
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0000040545-25-000132
Chunk: 70

Company: GENERAL ELECTRIC CO
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 4
Chunk 70
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, limited partnerships of $4,925 million and $4,321 million, a diversified commercial mortgage loan portfolio collateralized by first liens on U.S. commercial real estate properties of $1,841 million and $1,887 million (net of allowance for credit losses of $37 million and $46 million) and residential mortgage loans of $345 million and $251 million (net of allowance for credit losses of an insignificant amount), as of September 30, 2025 and December 31, 2024, respectively. As of September 30, 2025, the commercial mortgage loan portfolio had no delinquent or non-accrual loans and about one-fourth of the portfolio was held in the office sector, which had a weighted average loan-to-value ratio of 69%, debt service coverage of 1.9, and an insignificant amount of scheduled maturities through 2026. A summary of our insurance liabilities and annuity benefits is presented below.

September 30, 2025Long-term careStructured settlement annuitiesLifeOther contractsTotalFuture policy benefit reserves$25,801 $8,467 $976 $356 $35,599 Investment contracts— 669 — 502 1,171 Other— — 113 271 384 Total$25,801 $9,136 $1,088 $1,129 $37,153 December 31, 2024Future policy benefit reserves$24,675 $8,426 $1,018 $357 $34,476 Investment contracts— 719 — 621 1,340 Other— — 116 277 394 Total$24,675 $9,145 $1,134 $1,254 $36,209 

2025 3Q FORM 10-Q 25

The following tables summarize balances of and changes in future policy benefit reserves.September 30, 2025September 30, 2024Present value of expected net premiumsLong-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLifeBalance, beginning of year$4,144 $— $4,318 $4,063 $— $4,803 Beginning balance at locked-in discount rate3,991 — 4,415 3,745 — 4,773 Effect of changes in cash flow