Equitable Financial Life Insurance Company (EFLIC) |
Funds Withheld and GA MODCO Reinsurance Supplement |
As of December 31, 2025 |
($ millions) |
Total General Account Portfolio
Funds Withheld and GA MODCO
Adjustments
Total GA Portfolio net of FWH and MODCO Adjustments
INVESTED ASSET MIX | |||
Non Affiliated | |||
Corporate Bonds | 13,728.8 | 4,008.1 | 9,720.7 |
US Gov't, Agencies, Municipals, Foreign Gov't | 4,438.6 | 257.2 | 4,181.4 |
RMBS | 527.2 | 244.2 | 283.0 |
CMBS | 497.4 | 104.8 | 392.6 |
Other ABS (including CLOs) | 1,577.6 | 63.8 | 1,513.8 |
Preferred Stock | 137.7 | - | 137.7 |
Common Stock | 324.5 | - | 324.5 |
Mortgage Loans | 12,402.2 | 3,597.5 | 8,804.7 |
Real Estate | 63.7 | - | 63.7 |
Other Invested Assets (Schedule BA) | 3,369.0 | 533.4 | 2,835.6 |
Total Non Affiliated | 37,066.7 | 8,809.0 | 28,257.7 |
Affiliated | |||
Corporate Bonds | 1,400.0 | - | 1,400.0 |
US Gov't, Agencies, Municipals, Foreign Gov't | - | - | - |
RMBS | - | - | - |
CMBS | - | - | - |
Other ABS (including CLOs) | - | - | - |
Preferred Stock | - | - | - |
Common Stock | - | - | - |
Mortgage Loans and Real Estate | - | - | - |
Other Invested Assets (Schedule BA) | 104.2 | - | 104.2 |
Total Affiliated | 1,504.2 | - | 1,504.2 |
Other | |||
Cash, Cash Equivalents, and Short-Term Investments | 1,969.7 | 252.4 | 1,717.3 |
Derivatives | 418.8 | 55.2 | 363.6 |
Contract Loans | 1,332.2 | 374.7 | 957.5 |
All Other | 307.4 | 21.5 | 285.9 |
Total Other | 4,028.1 | 703.8 | 3,324.3 |
Overfunded Funds Withheld Adjustment down to Liability | - | (69.2) | 69.2 |
Total Cash and Invested Assets | 42,599.0 | 9,443.6 | 33,155.4 |
CREDIT QUALITY | |||
NAIC 1 | 13,125.1 | 2,898.6 | 10,226.5 |
NAIC 2 | 7,998.9 | 1,734.0 | 6,264.9 |
Investment Grade | 21,124.0 | 4,632.6 | 16,491.4 |
NAIC 3 | 381.6 | 8.0 | 373.6 |
NAIC 4 | 611.2 | 36.7 | 574.5 |
NAIC 5 | 185.3 | 0.8 | 184.5 |
NAIC 6 | 5.2 | - | 5.2 |
Below Investment Grade | 1,183.3 | 45.5 | 1,137.8 |
Total Fixed Maturities | 22,307.3 | 4,678.1 | 17,629.2 |
BONDS BY ASC 820 FAIR VALUE LEVEL at STATUTORY ADMITTED VALUE | |||
Level 1 | - | - | - |
Level 2 | 18,946.1 | 4,678.1 | 14,268.0 |
Level 3 | 3,223.4 | - | 3,223.4 |
Total Bonds | 22,169.6 | 4,678.1 | 17,491.4 |
INVESTMENT INCOME
Bonds & Equities 1,264.1 | 216.1 | 1,048.0 |
Mortgage Loans and Real Estate 622.8 | 152.4 | 470.4 |
Other Invested Assets (Schedule BA) 425.1 | 21.4 | 403.7 |
Derivatives (1,201.2) | (1,246.7) | 45.5 |
Other 116.7 | 14.9 | 101.8 |
Gross Investment Income 1,227.5 | (841.9) | 2,069.4 |
Investment Expenses (558.4) | (28.8) | (529.6) |
Net Investment Income 669.1 | (870.7) | 1,539.8 |
CAPITAL GAINS (LOSSES)
Realized
Bonds & Equities (259.3) | (144.4) | (114.9) |
Mortgages & Real Estate (68.8) | (59.5) | (9.3) |
Other Invested Assets (Schedule BA) (39.5) | (1.1) | (38.4) |
Derivatives (518.9) | (82.3) | (436.6) |
Other (incl. IMR adjustment and cap gains tax) 109.0 | - | 109.0 |
Total Realized Gains (Losses) (777.5) | (287.2) | (490.3) |
Unrealized
Bonds (incl. FX) & Equities 260.9 | (3.4) | 264.3 |
Mortgages & Real Estate (37.6) | (12.5) | (25.1) |
Other Invested Assets (Schedule BA) 125.8 | 3.2 | 122.6 |
Derivatives (78.7) | 51.7 | (130.4) |
Other (incl.cap gains tax) (52.9) | (0.0) | (52.9) |
Total Unrealized Gains (Losses) incl unrealized F/X 217.5 | 39.0 | 178.5 |
Total Capital Gains (Losses) (560.0) | (248.3) | (311.7) |