GE · 10-Q · 2026Q2 · Full report

Insurance Liabilities and Run‑off / Long‑duration Insurance

GENERAL ELECTRIC CO · 2026-07-16 · Importance 50 · Surprise 32

Insurance liabilities and annuity benefits totaled $36,195 million at June 30, 2026 (down from $36,894 million at December 31, 2025) and include future policy benefit reserves of $34,819 million. The run‑off insurance portfolio is supported by investment securities ($37,305 million) and limited partnerships ($5,288 million) as of June 30, 2026; the commercial mortgage loan portfolio is diversified with approximately one‑fourth in the office sector and a debt service coverage of 1.7. The Company will complete its annual review of future policy benefit reserve cash flow assumptions in the third quarter and states that if assumptions are updated, future policy benefit reserves will be adjusted retroactively using the revised net premium ratio and the locked‑in discount rate with effects recognized in current earnings. Weighted‑average durations and accretion/discount rates are disclosed (e.g., weighted‑average duration 10.9 years for long‑term care; current discount rates ~5.5%), indicating sensitivity to interest rate and actuarial assumption changes.

Key facts

• Total insurance liabilities and annuity benefits at June 30, 2026: $36,195 million (future policy benefit reserves $34,819 million and investment contracts $1,093 million). source
• Weighted-average duration of insurance liabilities (years) as of June 30, 2026: Long-term care 10.9 years, Structured settlement annuities 10.1 years, Life 6.0 years. source
• Insurance cash and cash equivalents were $1,168 million at June 30, 2026 and $1,264 million at December 31, 2025. source