Business Segments · Policy Liabilities (Including Market Risk Benefits)
Insurance — Policy Liabilities (Including Market Risk Benefits)
KKR & Co. Insurance — Policy Liabilities (Including Market Risk Benefits) increased by 0.1% to $66.76B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 11.5%, from $59.88B to $66.76B. Over 4 years (FY 2021 to FY 2025), Insurance — Policy Liabilities (Including Market Risk Benefits) shows an upward trend with a 33.3% CAGR.
Analysis
StatementSegment
CategoryRisk
SignalContext dependent
VolatilityStable
First reportedQ1 2021
Last reportedQ4 2025
Rolls up toInsurance Liabilities and Annuity Benefits
How to read this metric
An increase typically reflects growth in the insurance book of business, while a significant spike may indicate rising risk exposure or changes in actuarial assumptions.
Detailed definition
Represents the total estimated future obligations to policyholders, including reserves for future benefits and market ri...
Peer comparison
Commonly reported by life and annuity insurers as 'Total Policy Liabilities' or 'Insurance Reserves'.
Metric ID:
kkr_segment_insurance_policy_liabilities_including_market_risk_benefitsHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $20.08B | $29.99B | $30.30B | $34.82B | $36.47B | $37.41B | $38.20B | $48.97B | $49.20B | $49.38B | $53.82B | $56.26B | $57.25B | $58.35B | $59.88B | $60.67B | $61.16B | $66.66B | $66.76B |
| QoQ Change | — | +49.4% | +1.0% | +14.9% | +4.7% | +2.6% | +2.1% | +28.2% | +0.5% | +0.4% | +9.0% | +4.5% | +1.8% | +1.9% | +2.6% | +1.3% | +0.8% | +9.0% | +0.1% |
| YoY Change | — | — | — | — | +81.6% | +24.7% | +26.1% | +40.6% | +34.9% | +32.0% | +40.9% | +14.9% | +16.4% | +18.2% | +11.3% | +7.8% | +6.8% | +14.2% | +11.5% |
Range$20.08B – $66.76B
CAGR+30.6%
Avg YoY Growth+25.5%
Median YoY Growth+18.2%
Current Streak18+ quarters growth
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Frequently Asked Questions
- What is KKR & Co.'s insurance — policy liabilities (including market risk benefits)?
- KKR & Co. (KKR) reported insurance — policy liabilities (including market risk benefits) of $66.76B in Q4 2025.
- How has KKR & Co.'s insurance — policy liabilities (including market risk benefits) changed year-over-year?
- KKR & Co.'s insurance — policy liabilities (including market risk benefits) increased by 11.5% year-over-year, from $59.88B to $66.76B.
- What is the long-term trend for KKR & Co.'s insurance — policy liabilities (including market risk benefits)?
- Over 4 years (2021 to 2025), KKR & Co.'s insurance — policy liabilities (including market risk benefits) has grown at a 33.3% compound annual growth rate (CAGR), from $80.93B to $255.24B.
- What does insurance — policy liabilities (including market risk benefits) mean?
- The total amount of money the insurance segment expects to pay out for future policy claims and benefits.