The company is implementing changes to its organizational structure and recorded a restructuring charge of $200 million in the fourth quarter of 2023. The Company expects these actions will create operating efficiencies, and provide reinvestment capacity to build capabilities, realize additional efficiencies, strengthen its competitiveness and fuel future growth.

In September 2023, the Company invested approximately $200 million, and acquired a 20% equity interest as a limited partner, in Prismic Life Holding Company LP, a Bermuda-exempted limited partnership that owns all of the outstanding capital stock of Prismic Re, a licensed Bermuda-based life and annuity reinsurance company.

The company entered into an agreement with Somerset Reinsurance Ltd. to reinsure certain guaranteed universal life policies and reinsured approximately $10 billion of account values of PDI traditional variable annuity contracts with guaranteed living benefits with AuguStar Life Insurance Company.

As part of its continuous improvement process, the Company is working to become a leaner and more agile company by simplifying its management structure, empowering its employees with faster decision-making processes and investing in technology and data platforms.

The Company expects these actions will create operating efficiencies, and provide reinvestment capacity to build capabilities, realize additional efficiencies, strengthen its competitiveness and fuel future growth.

In the second quarter of 2024, the Company recorded two unrelated out-of-period adjustments resulting in an aggregate net charge of $136 million to “Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities” for the second quarter of 2024. These adjustments did not have an impact to adjusted operating income.

The company notes that losses on investments or financial contracts due to deterioration in credit quality or value, or counterparty default are a risk factor.

The company notes that losses on insurance products due to mortality experience, morbidity experience or policyholder behavior experience that differs significantly from our expectations when we price our products are a risk factor.

The company notes that liquidity needs resulting from derivative collateral market exposure, asset/liability mismatches, the lack of available funding in the financial markets or unexpected cash demands due to severe mortality calamity or lapse events are a risk factor.

The company notes that competition is a risk factor.

The company notes that reputational damage is a risk factor.

The company notes that market conditions that may adversely affect the sales or persistency of our products are a risk factor.

The company expects these actions will create operating efficiencies, and provide reinvestment capacity to build capabilities, realize additional efficiencies, strengthen its competitiveness and fuel future growth.

The company notes that financial or customer losses, or regulatory and legal actions, due to inadequate or failed processes or systems, external events, and human error or misconduct are a risk factor.

The company notes that technological changes which may adversely impact companies in our investment portfolio or cause insurance experience to deviate from our assumptions are a risk factor.

As part of its continuous improvement process, the Company is working to become a leaner and more agile company by simplifying its management structure, empowering its employees with faster decision-making processes and investing in technology and data platforms.

The company notes that technological changes which may adversely impact companies in our investment portfolio or cause insurance experience to deviate from our assumptions are a risk factor.

The company notes that an inability to protect our intellectual property rights or claims of infringement of the intellectual property rights of others are a risk factor.

As of June 30, 2024, 4.5 million shares of the Company's Common Stock were repurchased under an authorization at a total cost of $500 million.

The company declared a dividend of $1.30 per share for both the three months ended March 31, 2024 and June 30, 2024.

The company notes that ratings downgrades are a risk factor.

The 10-Q filing does not include any specific information on the company's ESG initiatives.

The company notes that changes in interest rates, equity prices and foreign currency exchange rates that may adversely impact the profitability of our products, the value of separate accounts supporting these products or the value of assets we manage, result in losses on derivatives we use to hedge risk or increase collateral posting requirements and limit opportunities to invest at appropriate returns are a risk factor.

The company notes that guarantees within certain of our products which are market sensitive and may decrease our earnings or increase the volatility of our results of operations or financial position are a risk factor.

The company notes that changes in the regulatory landscape, including related to financial sector regulatory reform, changes in tax laws, fiduciary rules and other standards of care, U.S. state insurance laws and developments regarding group-wide supervision, capital and reserves, insurer capital standards outside the U.S. and privacy and cybersecurity regulation are a risk factor.