Corebridge Financial Inc
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
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SCHEDULE I
Schedules |Schedule I
Summary of Investments – Other than Investments in Related Parties
| Schedule I | |||
|---|---|---|---|
| December 31, 2023 · Amount at which shown in the Balance Sheet | |||
| (in millions) · Cost(a)(b) · Fair Value(b) | |||
| Fixed maturities: | |||
| U.S. government and government sponsored entities | $1,436 | $1,220 | $1,220 |
| Obligations of states, municipalities and political subdivisions | 6,506 | 5,871 | 5,871 |
| Non-U.S. governments | 4,708 | 4,070 | 4,070 |
| Public utilities | 20,112 | 17,092 | 17,092 |
| All other corporate debt securities | 103,195 | 91,643 | 91,643 |
| Mortgage-backed, asset-backed and collateralized | 53,567 | 51,209 | 51,209 |
| Total fixed maturity securities | 189,524 | 171,105 | 171,105 |
| Equity securities and mutual funds: | |||
| Common stock: | |||
| Public utilities | — | — | — |
| Banks, trust and insurance companies | — | — | — |
| Industrial, miscellaneous and all other | 7 | 7 | 7 |
| Total common stock | 7 | 7 | 7 |
| Preferred stock | 47 | 47 | 47 |
| Mutual funds | 9 | 9 | 9 |
| Total equity securities and mutual funds | 63 | 63 | 63 |
| Mortgage and other loans receivable, net of allowance | |||
| Commercial mortgages | 34,172 | 31,414 | 34,172 |
| Residential mortgages | 8,445 | 7,585 | 8,445 |
| Life insurance policy loans | 1,746 | 1,748 | 1,746 |
| Commercial loans, other loans and notes receivable | 3,202 | 3,202 | 3,202 |
| Total mortgage and other loans receivable | 47,565 | 43,949 | 47,565 |
| Allowance for credit losses | (698) | — | (698) |
| Total mortgage and other loans receivable, net of allowance | 46,867 | 43,949 | 46,867 |
| Other invested assets(c) | 10,937 | 10,257 | 10,257 |
| Short-term investments, at cost (approximates fair value) | 4,336 | 4,336 | 4,336 |
| Derivative assets(d) (e) | 393 | 393 | 393 |
| Total investments | $252,120 | $230,103 | $233,021 |
(a)Original cost of fixed maturities is reduced by repayments and adjusted for amortization of premiums or accretion of discounts.
(b)The table above includes available-for-sale securities issued by related parties. This includes RMBS securities which had a fair value of $43 million and an amortized cost of $45 million.
(c)Includes $0.6 million of investments in related parties.
(d)Includes $12 million of derivative assets with related parties.
(e)Excludes $141 million of derivative liabilities.
Corebridge | 2023 Form 10-K 275
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