Company: GE
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0000040545-25-000062
Chunk: 126

Company: GENERAL ELECTRIC CO
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 1
Chunk 126
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$8,909 $5,581 Net future policy benefit reserves$24,721 $8,394 $1,004 $25,722 $8,909 $1,054 Less: Reinsurance recoverables, net of allowance for credit losses(170)— (197)(165)— (29)Net future policy benefit reserves, after reinsurance recoverables$24,551 $8,394 $807 $25,557 $8,909 $1,025 Weighted-average duration of liability (years)(a)11.510.25.212.410.85.3Weighted-average interest accretion rate5.6%5.4%5.3%5.6%5.4%5.2%Current discount rate5.6%5.5%5.0%5.2%5.2%5.0%Gross premiums or assessments recognized during period$117 $— $79 $123 $— $79 Expected future gross premiums, undiscounted7,448 — 11,350 7,376 — 12,082 Expected future gross premiums, discounted(a)4,722 — 5,249 4,794 — 5,446 Expected future benefit payments, undiscounted61,449 18,432 10,314 62,774 19,092 10,935 Expected future benefit payments, discounted(a)28,861 8,394 5,357 29,654 8,909 5,581 (a) Determined using the current discount rate as of March 31, 2025 and 2024.As of March 31, 2025 and 2024, policyholders account balances totaled $1,535 million and $1,686 million, respectively. As our insurance operations are in run-off, changes in policyholder account balances for the three months ended March 31, 2025 and 2024 are primarily attributed to surrenders, withdrawals, and benefit payments of $114 million and $106 million, partially offset by net additions from separate accounts and interest credited of $74 million and $66 million, respectively. Interest on policyholder account balances is generally credited at minimum guaranteed rates, primarily between 3.0% and 6.0% at both March 31, 2025 and 2024.On February