Company: GE
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0000040545-25-000062
Chunk: 124

Company: GENERAL ELECTRIC CO
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 1
Chunk 124
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163 million and $158 million for the three months ended March 31, 2025 and 2024, respectively. These operations were primarily supported by investment securities, substantially all debt securities, of $37,613 million and $37,352 million, limited partnerships of $4,409 million and $4,321 million, a diversified commercial mortgage loan portfolio collateralized by first liens on U.S. commercial real estate properties of $1,885 million and $1,887 million (net of allowance for credit losses of $40 million and $46 million), and residential mortgage loans of $331 million and $251 million (net of allowance for credit losses of an insignificant amount), as of March 31, 2025 and December 31, 2024, respectively. As of March 31, 2025, the commercial mortgage loan portfolio had one delinquent loan, one non-accrual loan and about one-third of the portfolio was held in the office sector, which had a weighted average loan-to-value ratio of 69%, debt service coverage of 1.7, and an insignificant amount of scheduled maturities through 2026. A summary of our insurance liabilities and annuity benefits is presented below.

March 31, 2025Long-term careStructured settlement annuitiesLifeOther contractsTotalFuture policy benefit reserves$24,721 $8,394 $1,004 $347 $34,467 Investment contracts— 702 — 603 1,304 Other— — 114 539 654 Total$24,721 $9,096 $1,118 $1,489 $36,424 

2025 1Q FORM 10-Q 23

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 The following tables summarize balances of and changes in future policy benefit reserves.March 31, 2025March 31, 2024Present value of expected net premiumsLong-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLifeBalance, beginning of year$4,144 $