KKR & Co. (KKR) 10-K 28 Feb 25 2024 FY Annual report Financial data

COVER PAGE

COVER PAGE - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 26, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-34820
Entity Registrant Name	KKR & CO. INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-1203639
Entity Address, Address Line One	30 Hudson Yards
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	750-8300
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 71.4
Entity Common Stock, Shares Outstanding		888,250,533
Documents Incorporated by Reference	None
Entity Central Index Key	0001404912
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	KKR
Security Exchange Name	NYSE
4.625% Subordinated Notes due 2061 of KKR Group Finance Co. IX LLC
Document Information [Line Items]
Title of 12(b) Security	4.625% Subordinated Notes due 2061 of KKR Group Finance Co. IX LLC
Trading Symbol	KKRS
Security Exchange Name	NYSE

AUDIT INFORMATION

AUDIT INFORMATION	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	New York, New York
Auditor Firm ID	34

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Other Assets	$ 11,826,990	$ 9,858,930
Separate Account Assets	3,981,060	4,107,000
Total Assets	360,099,411	317,294,194
Liabilities and Equity
Accrued Expenses and Other Liabilities	13,635,465	10,974,421
Separate Account Liabilities	3,981,060	4,107,000
Total Liabilities	298,114,719	258,915,282
Commitments and Contingencies (See Note 24)
Redeemable Noncontrolling Interests (See Note 23)	1,585,177	615,427
Stockholders' Equity
Common Stock, $0.01 par value. $3,500,000,000 shares authorized, 888,232,174 and $885,005,588 shares, issued and outstanding as of December 31, 2024 and December 31, 2023, respectively.	8,882	8,850
Additional Paid-In Capital	18,406,718	17,549,157
Retained Earnings	12,282,513	9,818,336
Accumulated Other Comprehensive Income (Loss) ("AOCI")	(7,046,545)	(4,517,649)
Total KKR & Co. Inc. Stockholders' Equity	23,651,568	22,858,694
Noncontrolling Interests (See Note 22)	36,747,947	34,904,791
Total Equity	60,399,515	57,763,485
Total Liabilities and Equity	360,099,411	317,294,194
Series I Preferred Stock
Stockholders' Equity
Series I Preferred Stock, $0.01 par value. 1 share authorized, 1 share issued and outstanding as of December 31, 2024 and December 31, 2023.	0	0
Asset Management and Strategic Holdings
Assets
Cash and Cash Equivalents	8,535,048	8,393,892
Restricted Cash and Cash Equivalents	138,948	116,599
Investments	106,453,051	98,634,801
Due from Affiliates	1,856,045	1,446,852
Other Assets	5,534,286	4,975,223
Total Assets	122,517,378	113,567,367
Liabilities and Equity
Debt Obligations	45,933,920	44,886,870
Due to Affiliates	524,516	538,099
Accrued Expenses and Other Liabilities	11,448,503	7,718,415
Total Liabilities	57,906,939	53,143,384
Insurance
Assets
Cash and Cash Equivalents	6,343,445	11,954,675
Restricted Cash and Cash Equivalents	350,512	342,954
Investments	170,144,744	141,370,323
Reinsurance Recoverable	45,270,625	36,617,344
Insurance Intangible Assets	5,198,943	4,450,824
Other Assets	6,292,704	4,883,707
Separate Account Assets	3,981,060	4,107,000
Total Assets	237,582,033	203,726,827
Liabilities and Equity
Debt Obligations	3,713,336	2,587,857
Accrued Expenses and Other Liabilities	2,186,962	3,256,006
Policy Liabilities (market risk benefit liabilities: $1,002,236 and $1,120,968, respectively.)	185,205,366	160,058,271
Funds Withheld Payable at Interest	43,961,910	34,339,522
Reinsurance Liabilities	1,159,146	1,423,242
Separate Account Liabilities	3,981,060	4,107,000
Total Liabilities	$ 240,207,780	$ 205,771,898

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Liabilities and Equity
Market risk benefit liabilities	$ 1,002,236	$ 1,120,968
Stockholders' Equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	3,500,000,000	3,500,000,000
Common stock, shares issued (in shares)	888,232,174	885,005,588
Common stock, shares outstanding (in shares)	888,232,174	885,005,588
Series I Preferred Stock
Stockholders' Equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1	1
Preferred stock, shares issued (in shares)	1	1
Preferred stock, shares outstanding (in shares)	1	1
Insurance
Liabilities and Equity
Market risk benefit liabilities	$ 1,002,236	$ 1,120,968

CONSOLIDATED STATEMENTS OF FI_3

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - VIE (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Other Assets	$ 11,826,990	$ 9,858,930
Total Assets	360,099,411	317,294,194
Liabilities
Accrued Expenses and Other Liabilities	13,635,465	10,974,421
Total Liabilities	298,114,719	258,915,282
Consolidated VIEs
Assets
Total Assets	122,437,787	109,927,538
Liabilities
Total Liabilities	37,747,744	35,526,497
Consolidated VIEs | Consolidated CFEs
Assets
Total Assets	30,767,201	27,135,648
Liabilities
Total Liabilities	29,395,062	26,146,169
Consolidated VIEs | Consolidated Funds and Other Investment Vehicles
Assets
Total Assets	62,403,445	58,961,228
Liabilities
Total Liabilities	7,786,468	9,043,166
Consolidated VIEs | Other VIEs
Assets
Total Assets	29,267,141	23,830,662
Liabilities
Total Liabilities	566,214	337,162
Asset Management and Strategic Holdings
Assets
Cash and Cash Equivalents	8,535,048	8,393,892
Restricted Cash and Cash Equivalents	138,948	116,599
Investments	106,453,051	98,634,801
Other Assets	5,534,286	4,975,223
Total Assets	122,517,378	113,567,367
Liabilities
Debt Obligations	45,933,920	44,886,870
Accrued Expenses and Other Liabilities	11,448,503	7,718,415
Total Liabilities	57,906,939	53,143,384
Asset Management and Strategic Holdings | Consolidated VIEs
Assets
Cash and Cash Equivalents	4,264,789	2,871,697
Restricted Cash and Cash Equivalents	115,467	110,308
Investments	87,855,190	82,339,535
Other Assets	935,200	775,336
Total Assets	93,170,646	86,096,876
Liabilities
Debt Obligations	34,705,866	33,830,853
Accrued Expenses and Other Liabilities	2,475,664	1,358,482
Total Liabilities	37,181,530	35,189,335
Asset Management and Strategic Holdings | Consolidated VIEs | Consolidated CFEs
Assets
Cash and Cash Equivalents	2,945,010	1,709,523
Restricted Cash and Cash Equivalents	0	0
Investments	27,488,538	24,996,298
Other Assets	333,653	429,827
Total Assets	30,767,201	27,135,648
Liabilities
Debt Obligations	27,150,809	25,276,404
Accrued Expenses and Other Liabilities	2,244,253	869,765
Total Liabilities	29,395,062	26,146,169
Asset Management and Strategic Holdings | Consolidated VIEs | Consolidated Funds and Other Investment Vehicles
Assets
Cash and Cash Equivalents	1,319,779	1,162,174
Restricted Cash and Cash Equivalents	115,467	110,308
Investments	60,366,652	57,343,237
Other Assets	601,547	345,509
Total Assets	62,403,445	58,961,228
Liabilities
Debt Obligations	7,555,057	8,554,449
Accrued Expenses and Other Liabilities	231,411	488,717
Total Liabilities	7,786,468	9,043,166
Asset Management and Strategic Holdings | Consolidated VIEs | Other VIEs
Assets
Cash and Cash Equivalents	0	0
Restricted Cash and Cash Equivalents	0	0
Investments	0	0
Other Assets	0	0
Total Assets	0	0
Liabilities
Debt Obligations	0	0
Accrued Expenses and Other Liabilities	0	0
Total Liabilities	0	0
Insurance
Assets
Cash and Cash Equivalents	6,343,445	11,954,675
Restricted Cash and Cash Equivalents	350,512	342,954
Investments	170,144,744	141,370,323
Other Assets	6,292,704	4,883,707
Total Assets	237,582,033	203,726,827
Liabilities
Debt Obligations	3,713,336	2,587,857
Accrued Expenses and Other Liabilities	2,186,962	3,256,006
Total Liabilities	240,207,780	205,771,898
Insurance | Consolidated VIEs
Assets
Cash and Cash Equivalents	853,240	783,015
Investments	27,649,919	22,556,040
Other Assets	763,982	491,607
Total Assets	29,267,141	23,830,662
Liabilities
Debt Obligations	70,400
Accrued Expenses and Other Liabilities	495,814	337,162
Total Liabilities	566,214
Insurance | Consolidated VIEs | Consolidated CFEs
Assets
Cash and Cash Equivalents	0	0
Investments	0	0
Other Assets	0	0
Total Assets	0	0
Liabilities
Debt Obligations	0
Accrued Expenses and Other Liabilities	0	0
Total Liabilities	0
Insurance | Consolidated VIEs | Consolidated Funds and Other Investment Vehicles
Assets
Cash and Cash Equivalents	0	0
Investments	0	0
Other Assets	0	0
Total Assets	0	0
Liabilities
Debt Obligations	0
Accrued Expenses and Other Liabilities	0	0
Total Liabilities	0
Insurance | Consolidated VIEs | Other VIEs
Assets
Cash and Cash Equivalents	853,240	783,015
Investments	27,649,919	22,556,040
Other Assets	763,982	491,607
Total Assets	29,267,141	23,830,662
Liabilities
Debt Obligations	70,400
Accrued Expenses and Other Liabilities	495,814	$ 337,162
Total Liabilities	$ 566,214

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues
Net Premiums	$ 7,898,834	$ 1,975,675	$ 1,182,461
Net Investment Income	6,574,608	5,514,902	4,118,246
Total Revenues	21,878,698	14,499,312	5,704,180
Expenses
Total Expenses	20,985,860	12,358,605	5,997,816
Investment Income (Loss) - Asset Management and Strategic Holdings
Net Gains (Losses) from Investment Activities	3,442,853	3,025,383	(1,665,537)
Dividend Income	1,100,361	791,160	1,322,447
Interest Income	3,458,526	3,369,447	1,895,282
Interest Expense	(3,034,145)	(2,772,088)	(1,550,777)
Total Investment Income (Loss)	4,967,595	4,413,902	1,415
Income (Loss) Before Taxes	5,860,433	6,554,609	(292,221)
Income Tax Expense (Benefit)	954,396	1,197,523	125,393
Net Income (Loss)	4,906,037	5,357,086	(417,614)
Net Income (Loss) Attributable to Redeemable Noncontrolling Interests	73,149	(5,405)	2,792
Net Income (Loss) Attributable to Noncontrolling Interests	1,756,643	1,630,230	101,258
Net Income (Loss) Attributable to KKR & Co. Inc.	3,076,245	3,732,261	(521,664)
Net Income (Loss) Attributable to KKR & Co. Inc. Common Stockholders	3,076,245	3,680,514	(590,664)
Series C Mandatory Convertible Preferred Stock Dividends
Investment Income (Loss) - Asset Management and Strategic Holdings
Series C Mandatory Convertible Preferred Stock Dividends	$ 0	$ 51,747	$ 69,000
Common Stock
Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock
Basic (in dollars per share)	$ 3.47	$ 4.24	$ (0.79)
Diluted (in dollars per share)	$ 3.28	$ 4.09	$ (0.79)
Weighted Average Shares of Common Stock Outstanding
Basic (in shares)	887,021,433	867,496,813	749,504,970
Diluted (in shares)	938,904,600	911,787,433	749,504,970
Asset Management and Strategic Holdings
Revenues
Fees and Other	$ 3,653,962	$ 2,963,869	$ 2,821,627
Capital Allocation-Based Income (Loss)	3,558,284	2,843,437	(2,500,509)
Total Revenues	7,212,246	5,807,306	321,118
Expenses
Compensation and Benefits	4,330,967	3,012,687	1,144,666
Occupancy and Related Charges	117,111	93,391	77,271
General, Administrative and Other	1,311,676	1,056,899	993,548
Total Expenses	5,759,754	4,162,977	2,215,485
Insurance
Revenues
Net Premiums	7,898,834	1,975,675	1,182,461
Policy Fees	1,377,686	1,260,249	1,261,721
Net Investment Income	6,574,608	5,514,902	4,118,246
Net Investment-Related Gains (Losses)	(1,423,086)	(235,262)	(1,318,490)
Other Income	238,410	176,442	139,124
Total Revenues	14,666,452	8,692,006	5,383,062
Expenses
General, Administrative and Other	745,096	746,215	718,977
Net Policy Benefits and Claims (including market risk benefit (gain) loss of $(147,790), $224,380, and $(673,399), respectively; remeasurement (gain) loss on policy liabilities: $(74,645), $15,497 and $(57,128), respectively.)	13,293,282	6,362,257	2,358,238
Amortization of Policy Acquisition Costs	174,163	87,275	55,349
Interest Expense	271,769	173,883	87,182
Insurance Expenses	741,796	825,998	562,585
Total Expenses	$ 15,226,106	$ 8,195,628	$ 3,782,331

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Market risk benefit, (gain) loss	$ (147,790)	$ 224,380	$ (673,399)
Liability for future policy benefit, remeasurement (gain) loss	$ (74,645)	$ 15,497	$ (57,128)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 4,906,037	$ 5,357,086	$ (417,614)
Other Comprehensive Income (Loss), Net of Tax:
Unrealized Gains (Losses) on Available-For-Sale Securities and Other	(189,277)	2,085,499	(9,235,715)
Net effect of changes in discount rates and instrument-specific credit risk on policy liabilities	187,472	(491,239)	1,383,193
Foreign Currency Translation Adjustments	(257,028)	(100,032)	(2,673)
Comprehensive Income (Loss)	4,647,204	6,851,314	(8,272,809)
Comprehensive Income (Loss) Attributable to Redeemable Noncontrolling Interests	73,149	(5,405)	2,792
Comprehensive Income (Loss) Attributable to Noncontrolling Interests	1,762,937	2,218,645	(3,818,549)
Comprehensive Income (Loss) Attributable to KKR & Co. Inc.	$ 2,811,118	$ 4,638,074	$ (4,457,052)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Series C Mandatory Convertible Preferred Stock Dividends	Series I Preferred Stock	Total KKR & Co. Inc. Stockholders' Equity	Preferred Stock Series C Mandatory Convertible Preferred Stock Dividends	Preferred Stock Series I Preferred Stock	Preferred Stock Series II Preferred Stock	Preferred Stock Series II Preferred Stock Holdings Merger	Common Stock	Additional Paid-In Capital	Additional Paid-In Capital 2024 GA Acquisition	Additional Paid-In Capital As previously reported	Additional Paid-In Capital Adjustment	Retained Earnings	Retained Earnings As previously reported	Retained Earnings Adjustment	Retained Earnings Series C Mandatory Convertible Preferred Stock Dividends	Accumulated Other Comprehensive Income (Loss) (net of tax)	Accumulated Other Comprehensive Income (Loss) (net of tax) 2024 GA Acquisition	Accumulated Other Comprehensive Income (Loss) (net of tax) As previously reported	Accumulated Other Comprehensive Income (Loss) (net of tax) Adjustment	Noncontrolling Interests	Noncontrolling Interests As previously reported	Noncontrolling Interests Adjustment
Increase (Decrease) in Stockholders' Equity
Redeemable Noncontrolling Interests (See Note 23)	$ 82,491
Stockholders' equity, beginning balance at Dec. 31, 2021					$ 1,115,792		$ 2,587		$ 5,957	$ 8,997,435		$ 8,997,435	$ 0	$ 7,736,112	$ 7,670,182	$ 65,930		$ (199,448)		$ (209,789)	$ 10,341	$ 40,579,526	$ 40,474,565	$ 104,961
Preferred stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2021					23,000,000	1	258,726,163
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2021									595,663,618
Increase (Decrease) in Stockholders' Equity
Conversion of Series C Mandatory Convertible Preferred Stock (in shares)					(26)				30
Cancellation of Series II Preferred Stock							$ (5)	$ (2,582)
Cancellation of Series II Preferred Stock (in shares)							(467,020)	(258,259,143)
Clawback of Transfer Restricted Shares (in shares)									(1,513)
Exchange of KKR Holdings Units									$ 5	14,811								(1,946)				(12,865)
Exchange of KKR Holding Units (in shares)									467,020
Holdings Merger (See Note 1)									$ 2,667	8,213,182								(1,015,317)				(7,197,950)
Holdings Merger (in shares)									266,759,143
Net Delivery of Common Stock (Equity Incentive Plans)									$ 34	(65,751)
Net Delivery of Common Stock (Equity Incentive Plans) (in shares)									3,413,354
Repurchases of Common Stock									$ (52)	(346,599)
Repurchases of Common Stock (in shares)									(5,191,174)
Tax Effects - Holdings Merger and Other (See Note 1)										(1,064,869)
Equity-Based Compensation (Non Cash Contribution)										215,711
Change in KKR & Co. Inc.'s Ownership Interest (See Note 22)										320,137								(149,701)				(170,436)
Net Income (Loss) Attributable to KKR & Co. Inc.	(521,664)													(521,664)
Series C Mandatory Convertible Preferred Stock Dividends																	$ (69,000)
Common stock dividends														(444,341)
Other Comprehensive Income (Loss)																		(3,935,388)
Stockholders' equity, ending balance at Dec. 31, 2022	$ 55,218,625			$ 18,807,767	$ 1,115,792		$ 0		$ 8,611	16,284,057		16,190,407	$ 93,650	6,701,107	6,315,711	$ 385,396		(5,301,800)		(5,901,701)	$ 599,901	36,410,858	35,778,000	$ 632,858
Preferred stock, shares outstanding, ending balance (in shares) at Dec. 31, 2022					22,999,974	1	0
Common stock, shares outstanding, ending balance (in shares) at Dec. 31, 2022									861,110,478
Increase (Decrease) in Stockholders' Equity
Preferred stock, dividends declared (in dollars per share)		$ 3
Dividend declared (in dollars per share)	$ 0.610
Redeemable Noncontrolling Interests (See Note 23)	$ 152,065
Conversion of Series C Mandatory Convertible Preferred Stock					$ (1,115,792)				$ 269	1,115,523
Conversion of Series C Mandatory Convertible Preferred Stock (in shares)					(22,999,974)				26,909,918
Clawback of Transfer Restricted Shares (in shares)									(25,045)
Net Delivery of Common Stock (Equity Incentive Plans)									$ 24	(41,697)
Net Delivery of Common Stock (Equity Incentive Plans) (in shares)									2,405,399
Repurchases of Common Stock									$ (54)	(289,790)
Repurchases of Common Stock (in shares)									(5,395,162)
Excise Tax on Repurchases of Common Stock										(1,349)
Equity-Based Compensation (Non Cash Contribution)										197,414
Change in KKR & Co. Inc.'s Ownership Interest (See Note 22)										278,529								(121,662)				(156,867)
Tax Effects of Changes in Ownership and Other										6,470
Net Income (Loss) Attributable to KKR & Co. Inc.	3,732,261													3,732,261
Series C Mandatory Convertible Preferred Stock Dividends																	$ (51,747)
Common stock dividends														(563,285)
Other Comprehensive Income (Loss)																		905,813
Stockholders' equity, ending balance at Dec. 31, 2023	$ 57,763,485			22,858,694	$ 0				$ 8,850	17,549,157		$ 17,549,157		9,818,336	$ 9,818,336			(4,517,649)		$ (4,517,649)		34,904,791	$ 34,904,791
Preferred stock, shares outstanding, ending balance (in shares) at Dec. 31, 2023			1		0	1
Common stock, shares outstanding, ending balance (in shares) at Dec. 31, 2023	885,005,588								885,005,588
Increase (Decrease) in Stockholders' Equity
Preferred stock, dividends declared (in dollars per share)		$ 2.25
Dividend declared (in dollars per share)	$ 0.650
Redeemable Noncontrolling Interests (See Note 23)	$ 615,427
Clawback of Transfer Restricted Shares (in shares)									(9,725)
Exchange of KKR Holding Units (in shares)									72,399
Private Placement Share Issuance (in shares)									5,379
Net Delivery of Common Stock (Equity Incentive Plans)									$ 32	(125,039)
Net Delivery of Common Stock (Equity Incentive Plans) (in shares)									3,158,533
Compensation Modification (See Note 19)										226,011												53,623
Compensation Modification - Issuance of Holdings III Units (See Note 19)										(53,623)
Equity-Based Compensation (Non Cash Contribution)										314,144
2024 GA Acquisition - Issuance of Holdings III Units (See Note 1)											$ (40,789)
Change in KKR & Co. Inc.'s Ownership Interest (See Note 22)										402,381	$ 128,194							33,725	$ (2,297,494)			(431,394)
Tax Effects of Changes in Ownership and Other										6,282
Net Income (Loss) Attributable to KKR & Co. Inc.	3,076,245													3,076,245
Common stock dividends														(612,068)
Other Comprehensive Income (Loss)																		(265,127)
Stockholders' equity, ending balance at Dec. 31, 2024	$ 60,399,515			$ 23,651,568					$ 8,882	$ 18,406,718				$ 12,282,513				$ (7,046,545)				$ 36,747,947
Preferred stock, shares outstanding, ending balance (in shares) at Dec. 31, 2024			1			1
Common stock, shares outstanding, ending balance (in shares) at Dec. 31, 2024	888,232,174								888,232,174
Increase (Decrease) in Stockholders' Equity
Dividend declared (in dollars per share)	$ 0.690
Redeemable Noncontrolling Interests (See Note 23)	$ 1,585,177

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2018-12 [Member]	Accounting Standards Update 2018-12 [Member]
Common stock, dividends declared (in dollars per share)	$ 0.610
Series C Mandatory Convertible Preferred Stock Dividends
Preferred stock, dividends declared (in dollars per share)	$ 3

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Activities
Net Income (Loss)	$ 4,906,037	$ 5,357,086	$ (417,614)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Equity-Based and Other Non-Cash Compensation	746,443	618,469	730,236
Change in Unrealized (Gains) Losses - Asset Management and Strategic Holdings	(3,196,021)	(3,801,856)	2,964,043
Net Accretion and Amortization	(119,315)	68,302	364,162
Other Non-Cash Amounts	312,801	101,539	125,934
Cash Flows Due to Changes in Operating Assets and Liabilities:
Change in Consolidation	77,255	(354,121)	(66,593)
Change in Due from / to Affiliates	(345,994)	402,465	(459,226)
Change in Other Assets	(1,048,738)	188,691	1,035,529
Change in Accrued Expenses and Other Liabilities	2,122,421	542,820	(3,124,973)
Net Cash Provided (Used) by Operating Activities	6,649,878	(1,493,812)	(5,279,259)
Investing Activities
Purchases of Fixed Assets	(141,536)	(108,393)	(85,056)
Net Cash Provided (Used) by Investing Activities	(19,047,424)	(3,882,936)	(13,647,272)
Financing Activities
Common Stock Dividends	(612,068)	(563,285)	(444,341)
Distributions to Redeemable Noncontrolling Interests	(23,763)	(2,845)	(2,540)
Contributions from Redeemable Noncontrolling Interests	922,127	499,433	69,322
Distributions to Noncontrolling Interests	(8,191,990)	(6,956,724)	(7,039,914)
Contributions from Noncontrolling Interests	7,432,325	12,871,585	13,622,035
2024 GA Acquisition - Cash consideration (See Note 1)	(2,622,230)	0	0
Net Delivery of Common Stock (Equity Incentive Plans)	(125,007)	(41,673)	(65,717)
Repurchases of Common Stock	0	(289,844)	(346,651)
Proceeds from Debt Obligations	29,136,875	16,383,154	20,439,101
Repayment of Debt Obligations	(25,677,318)	(12,763,783)	(13,910,767)
Financing Costs Paid	(20,078)	(14,781)	(33,276)
Net Cash Provided (Used) by Financing Activities	7,076,330	12,774,088	22,055,366
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(118,951)	25,410	(269,769)
Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash	(5,440,167)	7,422,750	2,859,066
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	20,808,120	13,385,370	10,526,304
Cash, Cash Equivalents and Restricted Cash, End of Period	15,367,953	20,808,120	13,385,370
Supplemental Disclosures of Cash Flow Information
Payments for Interest	2,937,009	2,691,086	1,500,123
Payments for Income Taxes	781,552	981,425	764,966
Payments for Operating Lease Liabilities	66,468	58,715	52,184
Supplemental Disclosures of Non-Cash Investing and Financing Activities
Non-Cash Contribution from Noncontrolling Interests	34,392	0	84,786
Non-Cash Distribution to Noncontrolling Interests	0	(1,344,792)	0
Debt Obligations - Net Gains (Losses), Translation and Other	541,429	(1,048,308)	2,022,751
Investments Acquired through Reinsurance Agreements	11,393,248	10,772,318	5,552,508
Contractholder Deposit Funds Acquired through Reinsurance Agreements	2,047,850	8,461,031	5,542,192
Change in Consolidation
Other Assets	12,084	(216,543)	(59,675)
Debt Obligations	(1,063,374)	85,005	(50,339)
Due to Affiliates	0	0	(174)
Accrued Expenses and Other Liabilities	5,952	(294,379)	(4,162)
Noncontrolling Interests	1,163,105	(8,461,491)	0
Redeemable Noncontrolling Interests	0	(27,821)	0
KJR Management
Investing Activities
Acquisition of KJRM, Net of Cash Acquired	0	0	(1,690,702)
Series C Mandatory Convertible Preferred Stock Dividends
Financing Activities
Series C Mandatory Convertible Preferred Stock Dividends	0	(51,747)	(69,000)
Asset Management and Strategic Holdings
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Net Realized (Gains) Losses - Asset Management and Strategic Holdings	(246,832)	776,473	(1,298,506)
Change in Unrealized (Gains) Losses - Asset Management and Strategic Holdings	(3,196,021)	(3,801,856)	2,964,043
Capital Allocation-Based Income (Loss) (GAAP)	(3,558,284)	(2,843,437)	2,500,509
Cash Flows Due to Changes in Operating Assets and Liabilities:
Investments Purchased - Asset Management and Strategic Holdings	(46,367,200)	(37,342,125)	(38,934,027)
Proceeds from Investments - Asset Management and Strategic Holdings	45,669,370	28,787,125	28,508,937
Financing Activities
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	8,510,491	6,958,756	6,833,966
Cash, Cash Equivalents and Restricted Cash, End of Period	8,673,996	8,510,491	6,958,756
Change in Consolidation
Investments	(81,971)	(8,675,404)	(57,440)
Insurance
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Net Investment and Policy Liability-Related (Gains) Losses - Insurance	3,250,375	2,556,183	362,480
Interest Credited to Policyholder Account Balances (net of Policy Fees) - Insurance	4,163,392	2,799,758	1,245,467
Cash Flows Due to Changes in Operating Assets and Liabilities:
Reinsurance Transactions and Acquisitions, Net of Cash Provided - Insurance	1,025,695	840,173	1,282,677
Change in Premiums, Notes Receivable and Reinsurance Recoverable, Net of Reinsurance Premiums Payable - Insurance	565,782	1,060,972	685,487
Change in Deferred Policy Acquisition Costs - Insurance	(840,725)	(534,534)	(483,449)
Change in Policy Liabilities and Accruals, Net - Insurance	(466,584)	(717,795)	(300,332)
Investing Activities
Investments Purchased - Insurance	(75,817,739)	(29,488,315)	(47,191,313)
Proceeds from Investments - Insurance	56,877,137	25,654,308	35,356,268
Other Investing Activities, Net - Insurance	34,714	59,464	(36,469)
Financing Activities
Additions to Contractholder Deposit Funds - Insurance	28,488,402	19,314,716	22,592,703
Withdrawals from Contractholder Deposit Funds - Insurance	(20,568,558)	(17,385,952)	(13,315,401)
Reinsurance Transactions, Net of Cash Provided - Insurance	47,821	1,223,564	69,596
Other Financing Activity, Net - Insurance	(1,110,208)	552,270	490,216
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	12,297,629	6,426,614	3,692,338
Cash, Cash Equivalents and Restricted Cash, End of Period	6,693,957	12,297,629	6,426,614
Change in Consolidation
Investments	$ 0	$ (93,545)	$ 0

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	Dec. 31, 2021 USD ($)
Cash, Cash Equivalents and Restricted Cash are comprised of the following:
Cash, Cash Equivalents and Restricted Cash	$ 10,526,304
Asset Management and Strategic Holdings
Cash, Cash Equivalents and Restricted Cash are comprised of the following:
Cash and Cash Equivalents	6,699,668
Restricted Cash and Cash Equivalents	134,298
Cash, Cash Equivalents and Restricted Cash	6,833,966
Insurance
Cash, Cash Equivalents and Restricted Cash are comprised of the following:
Cash and Cash Equivalents	3,391,934
Restricted Cash and Cash Equivalents	300,404
Cash, Cash Equivalents and Restricted Cash	$ 3,692,338

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION KKR & Co. Inc. (NYSE: KKR), through its subsidiaries (collectively, "KKR"), is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group LLC ("TGAFG" and, together with its insurance companies and other subsidiaries, "Global Atlantic"). KKR & Co. Inc. is the parent company of KKR Group Co. Inc., which in turn owns KKR Group Holdings Corp., which is the general partner of KKR Group Partnership L.P. ("KKR Group Partnership"). KKR & Co. Inc. both indirectly controls KKR Group Partnership and indirectly holds Class A partner interests in KKR Group Partnership ("KKR Group Partnership Units") representing economic interests in KKR's business. As of December 31, 2024, KKR & Co. Inc. held indirectly approximately 99.2% of the KKR Group Partnership Units. The remaining balance is held indirectly by KKR current and former employees through restricted holdings units representing an ownership interest in KKR Group Partnership Units, which may be exchanged for shares of common stock of KKR & Co. Inc. ("exchangeable securities"). As limited partner interests, these KKR Group Partnership Units are non-voting and do not entitle anyone other than KKR to manage its business and affairs. KKR Group Partnership also has outstanding limited partner interests that provide for a carry pool provided by KKR Associates Holdings L.P. ("Associates Holdings"). On January 2, 2024, KKR acquired the remaining minority interests of Global Atlantic held by third party co-investors and Global Atlantic employees in exchange for cash and securities exchangeable for shares of KKR & Co. Inc. common stock (the “2024 GA Acquisition”). The purchase price paid by KKR was approximately $2.6 billion in cash and $41 million in securities exchangeable for shares of KKR & Co. Inc. common stock. Global Atlantic was consolidated prior to January 2, 2024 and consequently, this transaction was accounted for as an equity transaction. At the time of the 2024 GA Acquisition, the carrying value of the noncontrolling interests held by third party co-investors and Global Atlantic employees in Global Atlantic was lower than the purchase price paid by KKR, which was determined by excluding unrealized losses on its available-for-sale portfolio and consistent with the calculation of the purchase price paid by KKR to acquire Global Atlantic in 2021. As such, this transaction resulted in a decrease in KKR & Co. Inc. Stockholders’ Equity. In this report, references to "KKR," refer to KKR & Co. Inc. and its subsidiaries, including The Global Atlantic Financial Group LLC ("TGAFG" and, together with its insurance companies and other subsidiaries, "Global Atlantic"), unless the context requires otherwise, especially in sections where "KKR" is intended to refer to the asset management and strategic holdings businesses only. References in these financial statements to "principals" are to KKR's current and former employees who held interests in KKR's business through KKR Holdings prior to the Reorganization Mergers (as defined below). References to our "funds," "vehicles" or "investment vehicles" refer to a wide array of investment funds, vehicles, and accounts that are advised, managed or sponsored by one or more subsidiaries of KKR, including collateralized loan obligations ("CLOs") and business development companies (each, a "BDC"), unless the context requires otherwise. Reorganization Agreement On October 8, 2021, KKR entered into a Reorganization Agreement (the "Reorganization Agreement") with KKR Holdings L.P. ("KKR Holdings"), KKR Management LLP (which holds the sole outstanding share of Series I preferred stock), Associates Holdings, and the other parties thereto. Pursuant to the Reorganization Agreement, the parties agreed to undertake a series of integrated transactions to effect a number of transformative structural and governance changes, some of which were completed on May 31, 2022, and other changes to be completed in the future. On May 31, 2022, KKR completed the merger transactions ("Reorganization Mergers") contemplated by the Reorganization Agreement pursuant to which KKR acquired KKR Holdings (which changed its name to KKR Group Holdings L.P.) and all of the KKR Group Partnership Units held by it. Pursuant to the Reorganization Agreement, the following transactions will occur in the future on the Sunset Date (as defined below): i. the control of KKR & Co. Inc. by KKR Management LLP and the Series I Preferred Stock held by it will be eliminated, ii. the voting rights for all common stock of KKR & Co. Inc., including with respect to the election of directors, will be established on a one vote per share basis, and iii. KKR will acquire control of Associates Holdings, the entity providing for the allocation of carry proceeds to KKR employees, also known as the carry pool.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements (referred to hereafter as the "financial statements") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). KKR consolidates the financial results of KKR Group Partnership and its consolidated entities, which include the accounts of KKR's investment management and capital markets companies, the general partners of certain unconsolidated investment funds, general partners of consolidated investment funds, and their respective consolidated investment funds, Global Atlantic’s insurance companies, and certain other entities including CFEs. References to Global Atlantic hereafter includes the insurance companies of Global Atlantic, which are consolidated by KKR starting on February 1, 2021 (the "2021 GA Acquisition Date"). The presentations in the consolidated statement of financial condition and consolidated statement of operations reflect the significant industry diversification of KKR by its acquisition of Global Atlantic. Global Atlantic operates an insurance business, and KKR operates an asset management business, which manages the operations of the newly-formed Strategic Holdings segment (see Note 21 "Segment Reporting"), each of which possess distinct characteristics. As a result, KKR developed a two-tiered approach for the financial statements presentation, where Global Atlantic's insurance operations are presented separately from KKR's asset management business. KKR believes that these separate presentations provide a more informative view of the consolidated financial position and results of operations than traditional aggregated presentations and that reporting Global Atlantic’s insurance operations separately is appropriate given, among other factors, the relative significance of Global Atlantic’s policy liabilities, which are not obligations of KKR & Co. Inc. (other than the insurance companies that issued them). If a traditional aggregate presentation were to be used, KKR would expect to eliminate or combine several identical or similar captions, which would condense the presentations, but would also reduce the level of information presented. KKR also believes that using a traditional aggregate presentation would result in no new line items compared to the two-tier presentation included in the financial statements in this report. The summary of the significant accounting policies has been organized considering the two-tiered approach and includes a section for common accounting policies and an accounting policy section for each of the two tiers when a policy is specific to one of the tiers. In the ordinary course of business, KKR’s Asset Management business, Strategic Holdings business, and Insurance business enter into transactions with each other, which may include transactions pursuant to their investment management agreements and certain financing arrangements. The borrowings from these financing arrangements are non-recourse to KKR beyond the assets designated to support such borrowings. All of the investment management and financing arrangements amongst KKR segments are eliminated in consolidation. All intercompany transactions and balances have been eliminated. SIGNIFICANT ACCOUNTING POLICIES - OVERALL Use of Estimates and Risks and Uncertainties The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the recognition and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, expenses, investment income (loss), and income taxes during the reporting periods. Such estimates include but are not limited to (i) the valuation of investments and financial instruments, (ii) the determination of the income tax provision, (iii) the impairment of goodwill and intangible assets, (iv) the impairment of available-for-sale investments, (v) the valuation of insurance policy liabilities, including market risk benefits, (vi) the valuation of embedded derivatives in policy liabilities and funds withheld, (vii) the determination of the allowance for loan losses, and (viii) amortization of deferred revenues and expenses associated with the insurance business. Certain events particular to each industry and country or region in which the portfolio companies conduct their operations, as well as general market, economic, political and geopolitical, regulatory, and natural disasters and catastrophes, including public health crises, may have a significant negative impact on KKR’s investments and profitability. Such events are beyond KKR’s control, and the likelihood that they may occur and the effect on KKR's use of estimates cannot be predicted. Actual results could differ from those estimates, and such differences could be material to the financial statements. Principles of Consolidation The types of entities KKR assesses for consolidation include (i) subsidiaries, including management companies, broker-dealers and general partners of investment funds that KKR manages, (ii) entities that have the attributes of an investment company, like investment funds, (iii) CFEs, (iv) Global Atlantic and its insurance companies, and (v) other entities. Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity. Pursuant to its consolidation policy, KKR first considers whether an entity is considered a VIE and therefore whether to apply the consolidation guidance under the VIE model. Entities that do not qualify as VIEs are assessed for consolidation as voting interest entities ("VOEs") under the voting interest model. Most of KKR's investment funds are categorized as VIEs. KKR's funds are, for GAAP purposes, investment companies and therefore are not required to consolidate their investments in portfolio companies even if majority-owned and controlled. Rather, the consolidated funds and vehicles reflect their investments at fair value as described below in "—Fair Value Measurements." An entity in which KKR holds a variable interest is a VIE if any one of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, (b) the holders of the equity investment at risk (as a group) lack either the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity's activities that have a significant effect on the success of the legal entity or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the legal entity, their rights to receive the expected residual returns of the legal entity, or both and substantially all of the legal entity's activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. Limited partnerships and other similar entities where unaffiliated limited partners have not been granted (i) substantive participatory rights or (ii) substantive rights to either dissolve the partnership or remove the general partner ("kick-out rights") are VIEs. KKR's investment funds (i) are generally limited partnerships, (ii) generally provide KKR with operational discretion and control, and (iii) generally have fund investors with no substantive rights to impact ongoing governance and operating activities of the fund, including the ability to remove the general partner, and, as such, the limited partners do not have kick-out rights. KKR consolidates all VIEs in which it is the primary beneficiary. A reporting entity is determined to be the primary beneficiary if it holds a controlling financial interest in a VIE. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (i) whether an entity in which KKR holds a variable interest is a VIE and (ii) whether KKR's involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (for example, management and performance income), would give it a controlling financial interest. Performance of that analysis requires the exercise of judgment. Fees earned by KKR that are customary and commensurate with the level of effort required to provide those services, and where KKR does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered to be variable interests. KKR factors in all economic interests including interests held through related parties, to determine if it holds a variable interest. KKR determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion when facts and circumstances change. For entities that are determined not to be VIEs, these entities are generally considered VOEs and are evaluated under the voting interest model. KKR consolidates VOEs it controls through a majority voting interest or through other means. The consolidation assessment, including the determination as to whether an entity qualifies as a VIE or VOE, depends on the facts and circumstances for each entity, and therefore certain of KKR's investment funds may qualify as VIEs whereas others may qualify as VOEs. With respect to CLOs (which are generally VIEs), in KKR's role as collateral manager, KKR generally has the power to direct the activities of the CLO that most significantly impact the economic performance of the entity. In some, but not all cases, KKR, through its residual interest in the CLO may have variable interests that represent an obligation to absorb losses of, or a right to receive benefits from, the CLO that could potentially be significant to the CLO. In cases where KKR has both the power to direct the activities of the CLO that most significantly impact the CLO's economic performance and the obligation to absorb losses of the CLO or the right to receive benefits from the CLO that could potentially be significant to the CLO, KKR is deemed to be the primary beneficiary and consolidates the CLO. Global Atlantic has formed certain VIEs to hold investments, including investments in real assets, consumer and other loans and fixed maturity securities. These VIEs issue beneficial interests primarily to Global Atlantic’s insurance companies, and Global Atlantic maintains the power to direct the activities of the VIEs that most significantly impact their economic performance and bears the obligation to absorb losses or receive benefits from the VIEs that could potentially be significant. Accordingly, Global Atlantic is the primary beneficiary of these VIEs, which are consolidated in Global Atlantic’s results. For certain consolidated renewable energy partnerships consolidated by Global Atlantic's insurance companies, Global Atlantic uses a hypothetical liquidation at book value ("HLBV") method to allocate income and cash flows based on third-party investors’ claim to net assets, including those for the noncontrolling interests and redeemable noncontrolling interests. KKR classifies certain noncontrolling interests with redemption features that are not solely within the control of KKR outside of permanent equity on its consolidated statements of financial condition. These redeemable noncontrolling interests are reported using the greater of the carrying value at each reporting date as determined by the HLBV method or the estimated redemption value in each reporting period. Noncontrolling Interests Noncontrolling interests in consolidated entities of KKR represent the non-redeemable ownership interests that are held primarily by: (i) third party fund investors in KKR's consolidated funds and certain other entities; (ii) third parties in KKR's Capital Markets business line; (iii) certain current and former employees who hold exchangeable securities; and (iv) certain third-party investors in certain of Global Atlantic's consolidated entities. For further details see Note 22 "Equity." Noncontrolling interests held by KKR Holdings before the closing of the Reorganization Mergers are described in Note 1 "Organization." Cash and Cash Equivalents Generally KKR considers all liquid short‑term investments with original maturities of three months or less when purchased to be cash equivalents. Cash and cash equivalents includes cash held at consolidated entities, which represents cash that, although not legally restricted, is not available generally to fund liquidity needs of KKR, as the use of such funds is generally limited to the investment activities of KKR's investment funds and CFEs. The carrying values of cash and cash equivalents are considered to be reasonable estimates of their fair values. Restricted Cash and Cash Equivalents Restricted cash and cash equivalents primarily represent amounts that are held by third parties under certain of KKR's financing and derivative transactions. The duration of this restricted cash generally matches the duration of the related financing or derivative transaction. Global Atlantic’s restricted cash principally includes certain cash and cash equivalents held in trusts formed for the benefit of ceding companies or held in connection with open derivative transactions. The carrying values of restricted cash and cash equivalents are considered to be reasonable estimates of their fair values. Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation techniques are applied. These valuation techniques involve varying levels of management estimation and judgment, the degree of which is dependent on a variety of factors. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments and financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I - Pricing inputs are unadjusted, quoted prices in active markets for identical assets or liabilities as of the measurement date. The types of financial instruments included in this category are publicly-listed equities, U.S. government and agencies securities, and securities sold short. Level II - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the measurement date, and fair value is determined through the use of models or other valuation methodologies. The types of financial instruments included in this category are credit investments, fixed-income securities held by consolidated insurance companies, investments and debt obligations of consolidated CLO entities, convertible debt securities indexed to publicly-listed securities, less liquid and restricted equity securities, certain funds withheld payable at interest, and certain over-the-counter derivatives such as foreign currency option and forward contracts. Level III - Pricing inputs are unobservable for the financial instruments and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The types of financial instruments generally included in this category are private portfolio companies, real assets investments, certain credit investments, equity method investments for which the fair value option was elected, certain fixed-income and structured securities held by the consolidated insurance subsidiaries, reinsurance recoverables carried at fair value, certain insurance policy liabilities carried at fair value, and certain embedded derivatives related to (i) certain funds withheld payable at interest, and (ii) annuities and indexed universal life products, which contain equity-indexed features. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. KKR's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset. A significant decrease in the volume and level of activity for the asset or liability is an indication that transactions or quoted prices may not be representative of fair value because in such market conditions there may be increased instances of transactions that are not orderly. In those circumstances, further analysis of transactions or quoted prices is needed, and a significant adjustment to the transactions or quoted prices may be necessary to estimate fair value. The availability of observable inputs can vary depending on the financial asset or liability and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument has recently been issued, whether the instrument is traded on an active exchange or in the secondary market, and current market conditions. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires additional judgment. Accordingly, the degree of judgment exercised by KKR in determining fair value is greatest for instruments categorized in Level III. The variability and availability of the observable inputs affected by the factors described above may cause transfers between Levels I, II, and III, which KKR recognizes at the beginning of the reporting period. Investments and other financial instruments that have readily observable market prices (such as those traded on a securities exchange) are stated at the last quoted sales price as of the reporting date. KKR does not adjust the quoted price for these investments, even in situations where KKR holds a large position and a sale could reasonably affect the quoted price. Management's determination of fair value is based upon the methodologies and processes described below and may incorporate assumptions that are management's best estimates after consideration of a variety of internal and external factors. Level II Valuation Methodologies Credit Investments, U.S. Municipal Securities, Corporate Bonds and Structured Securities: These financial instruments generally have bid and ask prices that can be observed in the marketplace. Bid prices reflect the highest price that KKR and others are willing to pay for an instrument. Ask prices represent the lowest price that KKR and others are willing to accept for an instrument. For financial instruments whose inputs are based on bid-ask prices obtained from third party pricing services, fair value may not always be a predetermined point in the bid-ask range. KKR's policy is generally to allow for mid-market pricing and adjusting to the point within the bid-ask range that meets KKR's best estimate of fair value. KKR may also use model-derived valuations whose inputs are observable or whose significant value drivers are observable. Investments and Debt Obligations of Consolidated CLO Vehicles: Investments of consolidated CLO vehicles are reported within Investments of Consolidated CFEs and are valued using the same valuation methodology as described above for credit investments. KKR measures CLO debt obligations on the basis of the fair value of the financial assets of the CLO. Securities Indexed to Publicly-Listed Securities: These securities are typically valued using standard convertible security pricing models. The key inputs into these models that require some amount of judgment are the credit spreads utilized and the volatility assumed. To the extent the company being valued has other outstanding debt securities that are publicly-traded, the implied credit spread on the company's other outstanding debt securities would be utilized in the valuation. To the extent the company being valued does not have other outstanding debt securities that are publicly-traded, the credit spread will be estimated based on the implied credit spreads observed in comparable publicly-traded debt securities. In certain cases, an additional spread will be added to reflect an illiquidity discount due to the fact that the security being valued is not publicly-traded. The volatility assumption is based upon the historically observed volatility of the underlying equity security into which the convertible debt security is convertible and/or the volatility implied by the prices of options on the underlying equity security. Equity Securities: The valuation of certain equity securities is based on (i) an observable price for an identical security adjusted for the effect of a restriction or leverage that collateralized the equity securities and (ii) quoted prices for identical or similar instruments in markets that are not active. Derivatives: The valuation incorporates observable inputs comprising yield curves, foreign currency rates, interest rate volatility and credit spreads. Level III Valuation Methodologies Private Equity Investments: KKR generally employs two valuation methodologies when determining the fair value of a private equity investment. The first methodology is typically a market comparables analysis that considers key financial inputs, which may take into account recent public and private transactions and other available measures. The second methodology utilized is typically a discounted cash flow analysis, which incorporates significant assumptions and judgments. Estimates of key inputs used in this methodology include the weighted average cost of capital for the investment and assumed inputs used to calculate terminal values, such as exit EBITDA multiples. The results of the discounted cash flow approach can be significantly impacted by these estimates. Other inputs are also used in both methodologies. In addition, when a definitive agreement has been executed to sell an investment, KKR generally considers a significant determinant of fair value to be the consideration to be received by KKR pursuant to the executed definitive agreement. Upon completion of the valuations conducted using these methodologies, a weighting is ascribed to each method, and an illiquidity discount is typically applied where appropriate. The ultimate fair value recorded for a particular investment will generally be within a range suggested by the two methodologies, except that the value may be higher or lower than such range in the case of investments being sold pursuant to an executed definitive agreement. When determining the weighting ascribed to each valuation methodology, KKR considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis, the expected hold period and manner of realization for the investment, and in the case of investments being sold pursuant to an executed definitive agreement, an estimated probability of such sale being completed. These factors can result in different weightings among investments in the portfolio and in certain instances may result in up to a 100% weighting to a single methodology. When an illiquidity discount is to be applied, KKR seeks to take a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments. KKR then evaluates such private equity investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include (i) the nature of KKR's governance rights, (ii) whether the portfolio company is undergoing significant restructuring activity or similar factors, and (iii) characteristics about the portfolio company regarding its size and/or whether the portfolio company is experiencing, or expected to experience, a significant decline in earnings. These factors generally make it less likely that a portfolio company would be sold or publicly offered in the near term at a price indicated by using just a market multiples and/or discounted cash flow analysis, and these factors tend to reduce the number of opportunities to sell an investment and/or increase the time horizon over which an investment may be monetized. Depending on the applicability of these factors, KKR determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time KKR holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by KKR in its valuations. In the case of growth equity investments, enterprise values may be determined using the market comparables analysis and discounted cash flow analysis described above. A scenario analysis may also be conducted to subject the estimated enterprise values to a downside, base and upside case, which involves significant assumptions and judgments. A milestone analysis may also be conducted to assess the current level of progress towards value drivers that we have determined to be important, which involves significant assumptions and judgments. The enterprise value in each case may then be allocated across the investment's capital structure to reflect the terms of the security and subjected to probability weightings. In certain cases, the values of growth equity investments may be based on recent or expected financings or other transactions. Real Asset Investments: Real asset investments in infrastructure, real estate, and energy are valued using one or a combination of the discounted cash flow analysis, market comparables analysis and direct income capitalization methods, which in each case incorporates significant assumptions and judgments. Infrastructure investments are generally valued using the discounted cash flow analysis. Key inputs used in this methodology can include the weighted average cost of capital and assumed inputs used to calculate terminal values, such as exit EBITDA multiples. Real estate investments are generally valued using a combination of direct income capitalization and discounted cash flow analysis. Certain real estate investments are valued by KKR based on ranges of valuations determined by independent valuation firms. Key inputs used in such methodologies that require estimates include an unlevered discount rate, current capitalization rate and exit capitalization rate. The valuations of real assets investments also use other inputs. Energy investments are generally valued using a discounted cash flow approach, and where applicable, a market approach using comparable companies and transactions. Key inputs used in our valuations include (i) the weighted average cost of capital, (ii) future commodity prices, as quoted on indices, and long-term commodity price forecasts, and (iii) the asset’s projected future operating performance. Credit Investments: Credit investments are valued using values obtained from dealers or market makers, and where these values are not available, credit investments are generally valued by KKR based on ranges of valuations determined by an independent valuation firm. Valuation models are based on discounted cash flow analyses, for which the key inputs are determined based on market comparables, which incorporate similar instruments from similar issuers. Real Estate Mortgage Loans: Real estate mortgage loans are illiquid, structured investments that are specific to the property and its operating performance. KKR engages an independent valuation firm to estimate the fair value of each loan. KKR reviews the quarterly loan valuation estimates provided by the independent valuation firm. These loans are generally valued using a discounted cash flow model using discount rates derived from observable market data applied to the capital structure of the respective sponsor and estimated property value. Other Investments: With respect to other investments including equity method investments, KKR generally employs the same valuation methodologies as described above for private equity, credit investments and real assets investments when valuing these other investments. Funds withheld at interest: The funds withheld receivables and payables at interest carried at fair value are primarily valued based on the fair value of the underlying investments, which have quoted prices or other observable inputs to pricing. A portion of the funds withheld receivable and payables at interest carried at fair value represent embedded derivatives and are generally valued as the difference between the fair value of the underlying assets and the carrying value of the host contract at the balance sheet date. Reinsurance recoverables: Reinsurance recoverables carried at fair value are valued using present value techniques that consider inputs including mortality and surrender rates for the associated policies, as well as estimates of policy expenses and the cost of capital held in support of the related closed block policy liabilities. Insurance policy liabilities, insurance embedded derivatives, and market risk benefits: Certain insurance policy liabilities that are carried at fair value are valued using present value techniques that discount estimated liability cash flows at a rate that reflects the variability of those cash flows and also consider policyholder behavior (including lapse rates, surrender rates and mortality). Closed block policy liabilities carried at fair value are valued using present value techniques that consider inputs including mortality and surrender rates for the respective policies, as well as estimates of policy expenses and the cost of capital held in support of the liabilities. Insurance embedded derivative liabilities are related to our fixed-indexed annuity, variable annuity and indexed universal life products, which contain equity-indexed features. These embedded derivative liabilities are calculated as the present value of future projected benefits in excess of the projected guaranteed benefits, using an option budget as the indexed account value growth rate and considering an adjustment to reflect the risk of nonperformance on our obligation and inputs such as projected withdrawal and surrender activity, and mortality. KKR calculates nonperformance risk using a blend of observable peer company credit spreads, adjusted to reflect the claims paying ability of our insurance entities, as well as an adjustment to reflect the priority of policyholder claims. Market risk benefits include certain contract features on fixed annuity and variable annuity produ

REVENUES - ASSET MANAGEMENT AND

REVENUES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS	REVENUES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS For the years ended December 31, 2024, 2023, and 2022, respectively, Asset Management and Strategic Holdings revenues consisted of the following: Years Ended December 31, 2024 2023 2022 Management Fees $ 1,994,089 $ 1,843,144 $ 1,682,466 Fee Credits (696,091) (297,936) (532,355) Transaction Fees 1,857,317 1,075,204 1,316,637 Monitoring Fees 187,538 138,339 131,750 Incentive Fees 47,430 29,117 33,537 Expense Reimbursements 152,726 75,687 102,927 Consulting Fees 110,953 100,314 86,665 Total Fees and Other 3,653,962 2,963,869 2,821,627 Carried Interest 3,243,495 2,304,623 (2,068,662) General Partner Capital Interest 314,789 538,814 (431,847) Total Capital Allocation-Based Income (Loss) 3,558,284 2,843,437 (2,500,509) Total Revenues $ 7,212,246 $ 5,807,306 $ 321,118 KKR earns management fees, incentive fees, and capital allocation-based income (loss) from investment funds, CLOs, and other vehicles whose primary focus is making investments in specified geographical locations and KKR also earns transaction, monitoring, and consulting fees from portfolio companies located in varying geographies. For the years ended December 31, 2024, 2023, and 2022, over 10% of consolidated revenues were earned in the United States. For the year ended December 31, 2024, $2.2 billion, $0.8 billion, and $0.7 billion of total fees and other were generated in the Americas, Europe/Middle East, and Asia-Pacific, respectively. For the year ended December 31, 2023, $1.8 billion, $0.6 billion, and $0.6 billion of total fees and other were generated in the Americas, Europe/Middle East, and Asia-Pacific, respectively. For the year ended December 31, 2022, $1.7 billion, $0.5 billion, and $0.6 billion of total fees and other were generated in the Americas, Europe/Middle East, and Asia-Pacific, respectively. The determination of the geographic region was based on the geographic focus of the associated investment vehicle or where the portfolio company is headquartered. For the year ended December 31, 2024, $2.2 billion, $0.4 billion, and $0.9 billion of total capital allocation-based income (loss) were generated in the Americas, Europe/Middle East, and Asia-Pacific, respectively. For the year ended December 31, 2023, $1.5 billion, $0.4 billion, and $0.9 billion of total capital allocation-based income (loss) were generated in the Americas, Europe/Middle East, and Asia-Pacific, respectively. For the year ended December 31, 2022, $(1.6) billion, $0.1 billion, and $(1.0) billion of total capital allocation-based income (loss) were generated in the Americas, Europe/Middle East, and Asia-Pacific, respectively. The determination of the geographic region was based on the geographic focus of the associated investment vehicle. For the year ended December 31, 2024, revenues from one of KKR’s flagship private equity funds contributed more than 10% of KKR's total Asset Management and Strategic Holdings revenues representing approximately $0.9 billion. For the year ended December 31, 2023, revenues from one of KKR’s flagship private equity funds contributed more than 10% of KKR's total Asset Management and Strategic Holdings revenues representing approximately $1.0 billion. For the year ended December 31, 2022, revenues from one of KKR’s flagship private equity funds contributed more than 10% of KKR's total fees and other representing approximately $0.2 billion. For the year ended December 31, 2022, revenues from three of KKR's flagship private equity funds contributed more than 10% of KKR's total capital allocation-based income (loss) representing approximately $(2.6) billion.

NET GAINS (LOSSES) FROM INVESTM

NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS	NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS Net Gains (Losses) from Investment Activities in the consolidated statements of operations consist primarily of the realized and unrealized gains and losses on investments (including foreign exchange gains and losses attributable to foreign denominated investments and related activities) and other financial instruments, including those for which the fair value option has been elected. Unrealized gains or losses result from changes in the fair value of these investments and other financial instruments during a period. Upon disposition of an investment or financial instrument, previously recognized unrealized gains or losses are reversed and an offsetting realized gain or loss is recognized in the current period. The following table summarizes total Net Gains (Losses) from Investment Activities: For the Year Ended December 31, 2024 Net Realized Gains (Losses) Net Unrealized Gains (Losses) Total Private Equity (1) $ 191,791 $ 1,694,901 $ 1,886,692 Credit (1) (509,690) 279,102 (230,588) Investments of Consolidated CFEs (1) (61,580) 84,799 23,219 Real Assets (1) 287,041 (200,080) 86,961 Equity Method - Other (1) 409,833 606,258 1,016,091 Other Investments (1) (187,015) 109,411 (77,604) Foreign Exchange Forward Contracts and Options (2) 171,330 549,055 720,385 Securities Sold Short (2) (31,912) 13,633 (18,279) Other Derivatives (2) (40,055) 16,332 (23,723) Debt Obligations and Other (3) 17,089 42,610 59,699 Net Gains (Losses) From Investment Activities $ 246,832 $ 3,196,021 $ 3,442,853 For the Year Ended December 31, 2023 Net Realized Gains (Losses) Net Unrealized Gains (Losses) Total Private Equity (1) $ (300,439) $ 2,931,254 $ 2,630,815 Credit (1) (322,067) 505,868 183,801 Investments of Consolidated CFEs (1) (104,196) 1,019,063 914,867 Real Assets (1) (322,894) 16,107 (306,787) Equity Method - Other (1) 327,549 586,125 913,674 Other Investments (1) (329,006) 198,889 (130,117) Foreign Exchange Forward Contracts and Options (2) 155,784 (312,408) (156,624) Securities Sold Short (2) 4,780 (12,872) (8,092) Other Derivatives (2) 11,120 2,383 13,503 Debt Obligations and Other (3) 102,896 (1,132,553) (1,029,657) Net Gains (Losses) From Investment Activities $ (776,473) $ 3,801,856 $ 3,025,383 For the Year Ended December 31, 2022 Net Realized Gains (Losses) Net Unrealized Gains (Losses) Total Private Equity (1) $ 784,736 $ (1,541,242) $ (756,506) Credit (1) (168,025) (470,254) (638,279) Investments of Consolidated CFEs (1) (69,234) (1,437,482) (1,506,716) Real Assets (1) 323,901 220,207 544,108 Equity Method - Other (1) 73,317 (298,100) (224,783) Other Investments (1) 29,490 (661,967) (632,477) Foreign Exchange Forward Contracts and Options (2) 389,371 (26,406) 362,965 Securities Sold Short (2) 89,705 11,010 100,715 Other Derivatives (2) (32,614) 39,404 6,790 Debt Obligations and Other (3) (122,141) 1,200,787 1,078,646 Net Gains (Losses) From Investment Activities $ 1,298,506 $ (2,964,043) $ (1,665,537) (1) See Note 7 "Investments." (2) See Note 8 "Derivatives" and Note 14 "Other Assets and Accrued Expenses and Other Liabilities." (3)

NET INVESTMENT INCOME - INSURAN

NET INVESTMENT INCOME - INSURANCE	12 Months Ended
	Dec. 31, 2024
Investments, All Other Investments [Abstract]
NET INVESTMENT INCOME - INSURANCE	NET INVESTMENT INCOME - INSURANCE Net investment income for Global Atlantic is comprised primarily of (i) interest income, including amortization of premiums and accretion of discounts, (ii) dividend income from common and preferred stock, (iii) earnings from investments accounted for under equity method accounting, and (iv) lease income on real assets. The components of net investment income were as follows: Years Ended December 31, 2024 2023 2022 Fixed Maturity Securities $ 5,597,124 $ 4,450,917 $ 3,257,226 Mortgage and Other Loan Receivables 2,681,876 1,958,875 1,572,308 Real Assets 815,612 625,707 608,074 Short-Term and Other Investment Income 513,276 309,861 116,884 Income Assumed from Funds Withheld Receivable at Interest 81,335 94,658 91,608 Policy Loans 84,320 37,460 31,433 Income Ceded to Funds Withheld Payable at Interest (2,391,926) (1,363,704) (954,763) Total Investment Income 7,381,617 6,113,774 4,722,770 Less Investment Expenses: Investment Management and Administration 498,733 352,042 364,609 Real Asset Depreciation and Maintenance 204,934 198,385 215,672 Interest Expense on Derivative Collateral and Repurchase Agreements 103,342 48,445 24,243 Net Investment Income $ 6,574,608 $ 5,514,902 $ 4,118,246 Net investment-related gains (losses) from insurance operations primarily consist of (i) realized gains (losses) from the disposal of investments, (ii) unrealized gains (losses) from investments held for trading, equity securities, real estate investments accounted for under investment company accounting, and investments with fair value remeasurements recognized in earnings as a result of the election of a fair-value option, (iii) unrealized gains (losses) on funds withheld receivable and payable at interest, (iv) unrealized gains (losses) from derivatives (excluding certain derivatives designated as hedge accounting instruments), and (v) allowances for credit losses, and other impairments of investments. Net investment-related gains (losses) were as follows: Years Ended December 31, 2024 2023 2022 Realized Gains (Losses) on Available-for-Sale Fixed Maturity Securities $ (567,985) $ (64,140) $ (559,987) Credit Loss Allowances on Available-for-Sale Securities (115,367) (168,899) (57,411) Credit Loss Allowances on Mortgage and Other Loan Receivables (305,770) (210,704) (369,296) Credit Loss Allowances on Unfunded Commitments 30,639 6,321 (34,112) Impairment of Available-for-Sale Fixed Maturity Securities Due to Intent to Sell — (26,741) — Unrealized Gains (Losses) on Fixed Maturity Securities Classified as Trading (735,209) 1,031,227 (2,603,874) Unrealized Gains (Losses) on Other Investments Recognized under the Fair-Value Option and Equity Investments 9,560 (23,540) (60,388) Unrealized Gains (Losses) on Real Assets (167,873) (202,671) 77,755 Realized Gains (Losses) on Real Assets 11,418 71,158 (150,288) Net Gains (Losses) on Derivative Instruments 419,927 (680,717) 2,346,747 Realized Gains (Losses) on Funds Withheld at Interest Payable Portfolio 126,422 25,427 38,074 Realized Gains (Losses) on Funds Withheld at Interest Receivable Portfolio (62,493) (9,193) (3,176) Other Realized Gains (Losses) (66,355) 17,210 57,466 Net Investment-Related Gains (Losses) $ (1,423,086) $ (235,262) $ (1,318,490) Allowance for Credit Losses Available-for-sale Fixed Maturity Securities The table below presents a roll-forward of the allowance for credit losses recognized for fixed maturity securities held by Global Atlantic: Year Ended December 31, 2024 Year Ended December 31, 2023 Corporate Structured Total Corporate Structured Total Balance, as of Beginning of Period $ 49,008 $ 219,704 $ 268,712 $ 1,298 $ 127,034 $ 128,332 Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance 106,038 2,805 108,843 68,166 75,623 143,789 Accretion of Initial Credit Loss Allowance on PCD Securities — 611 611 — 1,191 1,191 Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance (1,089) (19,377) (20,466) (2,843) (13,220) (16,063) Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance 22,184 (15,660) 6,524 (3,966) 29,076 25,110 Balances Charged Off (76,525) (12,377) (88,902) (13,647) — (13,647) Balance, as of End of Period $ 99,616 $ 175,706 $ 275,322 $ 49,008 $ 219,704 $ 268,712 Year Ended December 31, 2022 Corporate Structured Total Balance, as of Beginning of Period $ 3,238 $ 84,895 $ 88,133 Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance 791 68,943 69,734 Initial Credit Loss Allowance Recognized on Purchased Credit Deteriorated ("PCD") Securities — 707 707 Accretion of Initial Credit Loss Allowance on PCD Securities — 1,847 1,847 Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance — (11,925) (11,925) Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance 5,110 (17,433) (12,323) Balances Charged Off (7,841) — (7,841) Balance, as of End of Period $ 1,298 $ 127,034 $ 128,332 Mortgage and Other Loan Receivables Changes in the allowance for credit losses on mortgage and other loan receivables held by Global Atlantic are summarized below: Year Ended December 31, 2024 Year Ended December 31, 2023 Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Balance, as of Beginning of Period $ 319,631 $ 107,204 $ 175,608 $ 602,443 $ 227,315 $ 125,825 $ 207,088 $ 560,228 Net Provision (Release) 164,254 5,157 136,359 305,770 113,932 (10,445) 107,217 210,704 Charge-offs (163,478) (5,116) (153,984) (322,578) (21,616) (8,176) (160,465) (190,257) Recoveries of Amounts Previously Charged-off 5,650 — 23,123 28,773 — — 21,768 21,768 Balance, as of End of Period $ 326,057 $ 107,245 $ 181,106 $ 614,408 $ 319,631 $ 107,204 $ 175,608 $ 602,443 Year Ended December 31, 2022 Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Balance, as of Beginning of Period $ 65,970 $ 72,082 $ 236,025 $ 374,077 Net Provision (Release) 161,345 74,798 133,153 369,296 Charge-offs (1) — (21,055) (162,090) (183,145) Balance, as of End of Period $ 227,315 $ 125,825 $ 207,088 $ 560,228 (1) Consumer and other loan receivables included $12.8 million of recoveries for the year ended December 31, 2022. Proceeds and Gross Gains and Losses from Voluntary Sales The proceeds from voluntary sales and the gross gains and losses on those sales of available-for-sale ("AFS") fixed maturity securities were as follows: Years Ended December 31, 2024 2023 2022 AFS Fixed Maturity Securities: Proceeds from Voluntary Sales $ 19,370,239 $ 6,687,271 $ 12,050,106 Gross Gains $ 112,264 $ 62,452 $ 21,567 Gross Losses $ (643,899) $ (120,799) $ (569,706) The following reflects the reconciliation of the components of insurance intangibles to the total balance reported in the consolidated statements of financial condition as of December 31, 2024 and 2023: December 31, December 31, 2024 2023 Deferred Acquisition Costs, or "DAC" $ 1,731,076 $ 1,154,697 Value of Business Acquired 1,165,193 1,252,984 Cost-of-Reinsurance Intangibles 2,302,674 2,043,143 Total Insurance Intangibles $ 5,198,943 $ 4,450,824 Deferred Acquisition Costs The following tables reflect the deferred acquisition costs roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 373,863 $ 481,970 $ 132,079 $ 166,785 $ 1,154,697 Capitalizations 197,662 404,165 7,640 202,251 811,718 Amortization Expense (108,132) (98,550) (8,576) (20,081) (235,339) Balance, as of the End of the Period $ 463,393 $ 787,585 $ 131,143 $ 348,955 $ 1,731,076 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 221,679 $ 367,813 $ 116,021 $ 115,457 $ 820,970 Capitalizations 218,243 175,869 23,592 66,458 484,162 Amortization Expense (66,059) (61,712) (7,534) (15,130) (150,435) Balance, as of the End of the Period $ 373,863 $ 481,970 $ 132,079 $ 166,785 $ 1,154,697 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 107,104 $ 179,449 $ 54,298 $ 56,730 $ 397,581 Capitalizations 144,635 220,866 67,892 69,515 502,908 Amortization Expense (30,060) (32,502) (6,169) (10,788) (79,519) Balance, as of the End of the Period $ 221,679 $ 367,813 $ 116,021 $ 115,457 $ 820,970 Value of Business Acquired The following tables reflect the value of business acquired, or “VOBA” asset roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 44,922 $ 621,372 $ 262,942 $ 245,042 $ 78,706 $ 1,252,984 Amortization Expense (3,687) (43,210) (13,530) (20,695) (6,669) (87,791) Balance, as of the End of the Period $ 41,235 $ 578,162 $ 249,412 $ 224,347 $ 72,037 $ 1,165,193 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 48,762 $ 663,296 $ 276,795 $ 241,778 $ 85,898 $ 1,316,529 Amortization Expense (3,840) (41,924) (13,853) 3,264 (7,192) (63,545) Balance, as of the End of the Period $ 44,922 $ 621,372 $ 262,942 $ 245,042 $ 78,706 $ 1,252,984 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 52,723 $ 709,271 $ 292,323 $ 269,172 $ 94,479 $ 1,417,968 Amortization Expense (3,961) (45,975) (15,528) (27,394) (8,581) (101,439) Balance, as of the End of the Period $ 48,762 $ 663,296 $ 276,795 $ 241,778 $ 85,898 $ 1,316,529 The following tables reflect the negative value of business acquired, or “negative VOBA” liability roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 65,966 $ 106,538 $ 421,213 $ 91,295 $ 182,920 $ 867,932 Amortization Expense (21,534) (31,283) (29,397) (6,113) (13,297) (101,624) Balance, as of the End of the Period $ 44,432 $ 75,255 $ 391,816 $ 85,182 $ 169,623 $ 766,308 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 98,342 $ 145,610 $ 461,592 $ 99,776 $ 198,804 $ 1,004,124 Amortization Expense (32,376) (39,072) (40,379) (8,481) (15,884) (136,192) Balance, as of the End of the Period $ 65,966 $ 106,538 $ 421,213 $ 91,295 $ 182,920 $ 867,932 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 136,227 $ 184,664 $ 500,264 $ 109,826 $ 211,296 $ 1,142,277 Amortization Expense (37,885) (39,054) (38,672) (10,050) (12,492) (138,153) Balance, as of the End of the Period $ 98,342 $ 145,610 $ 461,592 $ 99,776 $ 198,804 $ 1,004,124 Estimated future amortization of VOBA and Negative VOBA as of December 31, 2024, is as follows: Years VOBA Negative VOBA Total, net 2025 $ 84,071 $ (86,456) $ (2,385) 2026 78,852 (70,146) 8,706 2027 73,940 (59,329) 14,611 2028 69,456 (51,274) 18,182 2029 65,376 (45,433) 19,943 Thereafter 793,498 (453,670) 339,828 Total $ 1,165,193 $ (766,308) $ 398,885 Unearned Revenue Reserves and Unearned Front-end Loads Years Ended December 31, 2024 2023 2022 Preneed Balance, as of the Beginning of the Period $ 178,053 $ 118,186 $ 55,510 Deferral 69,303 71,798 69,548 Amortized to Income during the Period (16,566) (11,931) (6,872) Balance, as of the End of the Period $ 230,790 $ 178,053 $ 118,186 Significant Inputs, Judgments, and Assumptions for DAC and Related Amortization Amounts Global Atlantic considers surrender rates, mortality rates, and other relevant policy decrements in determining the expected life of the contract. As a part of Global Atlantic's actual experience update for the year ended December 31, 2024, Global Atlantic concluded that there was no material change in relevant inputs, judgments, or assumptions requiring an update of the amortization rate for DAC and related amortization amounts. For the year ended December 31, 2023, Global Atlantic updated mortality and surrender assumptions. These updates reduced the amortization rate for DAC and related amortization amounts by $4.4 million per year.

NET INVESTMENT-RELATED GAINS (L

NET INVESTMENT-RELATED GAINS (LOSSES) - INSURANCE	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
NET INVESTMENT-RELATED GAINS (LOSSES) - INSURANCE	NET INVESTMENT INCOME - INSURANCE Net investment income for Global Atlantic is comprised primarily of (i) interest income, including amortization of premiums and accretion of discounts, (ii) dividend income from common and preferred stock, (iii) earnings from investments accounted for under equity method accounting, and (iv) lease income on real assets. The components of net investment income were as follows: Years Ended December 31, 2024 2023 2022 Fixed Maturity Securities $ 5,597,124 $ 4,450,917 $ 3,257,226 Mortgage and Other Loan Receivables 2,681,876 1,958,875 1,572,308 Real Assets 815,612 625,707 608,074 Short-Term and Other Investment Income 513,276 309,861 116,884 Income Assumed from Funds Withheld Receivable at Interest 81,335 94,658 91,608 Policy Loans 84,320 37,460 31,433 Income Ceded to Funds Withheld Payable at Interest (2,391,926) (1,363,704) (954,763) Total Investment Income 7,381,617 6,113,774 4,722,770 Less Investment Expenses: Investment Management and Administration 498,733 352,042 364,609 Real Asset Depreciation and Maintenance 204,934 198,385 215,672 Interest Expense on Derivative Collateral and Repurchase Agreements 103,342 48,445 24,243 Net Investment Income $ 6,574,608 $ 5,514,902 $ 4,118,246 Net investment-related gains (losses) from insurance operations primarily consist of (i) realized gains (losses) from the disposal of investments, (ii) unrealized gains (losses) from investments held for trading, equity securities, real estate investments accounted for under investment company accounting, and investments with fair value remeasurements recognized in earnings as a result of the election of a fair-value option, (iii) unrealized gains (losses) on funds withheld receivable and payable at interest, (iv) unrealized gains (losses) from derivatives (excluding certain derivatives designated as hedge accounting instruments), and (v) allowances for credit losses, and other impairments of investments. Net investment-related gains (losses) were as follows: Years Ended December 31, 2024 2023 2022 Realized Gains (Losses) on Available-for-Sale Fixed Maturity Securities $ (567,985) $ (64,140) $ (559,987) Credit Loss Allowances on Available-for-Sale Securities (115,367) (168,899) (57,411) Credit Loss Allowances on Mortgage and Other Loan Receivables (305,770) (210,704) (369,296) Credit Loss Allowances on Unfunded Commitments 30,639 6,321 (34,112) Impairment of Available-for-Sale Fixed Maturity Securities Due to Intent to Sell — (26,741) — Unrealized Gains (Losses) on Fixed Maturity Securities Classified as Trading (735,209) 1,031,227 (2,603,874) Unrealized Gains (Losses) on Other Investments Recognized under the Fair-Value Option and Equity Investments 9,560 (23,540) (60,388) Unrealized Gains (Losses) on Real Assets (167,873) (202,671) 77,755 Realized Gains (Losses) on Real Assets 11,418 71,158 (150,288) Net Gains (Losses) on Derivative Instruments 419,927 (680,717) 2,346,747 Realized Gains (Losses) on Funds Withheld at Interest Payable Portfolio 126,422 25,427 38,074 Realized Gains (Losses) on Funds Withheld at Interest Receivable Portfolio (62,493) (9,193) (3,176) Other Realized Gains (Losses) (66,355) 17,210 57,466 Net Investment-Related Gains (Losses) $ (1,423,086) $ (235,262) $ (1,318,490) Allowance for Credit Losses Available-for-sale Fixed Maturity Securities The table below presents a roll-forward of the allowance for credit losses recognized for fixed maturity securities held by Global Atlantic: Year Ended December 31, 2024 Year Ended December 31, 2023 Corporate Structured Total Corporate Structured Total Balance, as of Beginning of Period $ 49,008 $ 219,704 $ 268,712 $ 1,298 $ 127,034 $ 128,332 Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance 106,038 2,805 108,843 68,166 75,623 143,789 Accretion of Initial Credit Loss Allowance on PCD Securities — 611 611 — 1,191 1,191 Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance (1,089) (19,377) (20,466) (2,843) (13,220) (16,063) Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance 22,184 (15,660) 6,524 (3,966) 29,076 25,110 Balances Charged Off (76,525) (12,377) (88,902) (13,647) — (13,647) Balance, as of End of Period $ 99,616 $ 175,706 $ 275,322 $ 49,008 $ 219,704 $ 268,712 Year Ended December 31, 2022 Corporate Structured Total Balance, as of Beginning of Period $ 3,238 $ 84,895 $ 88,133 Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance 791 68,943 69,734 Initial Credit Loss Allowance Recognized on Purchased Credit Deteriorated ("PCD") Securities — 707 707 Accretion of Initial Credit Loss Allowance on PCD Securities — 1,847 1,847 Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance — (11,925) (11,925) Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance 5,110 (17,433) (12,323) Balances Charged Off (7,841) — (7,841) Balance, as of End of Period $ 1,298 $ 127,034 $ 128,332 Mortgage and Other Loan Receivables Changes in the allowance for credit losses on mortgage and other loan receivables held by Global Atlantic are summarized below: Year Ended December 31, 2024 Year Ended December 31, 2023 Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Balance, as of Beginning of Period $ 319,631 $ 107,204 $ 175,608 $ 602,443 $ 227,315 $ 125,825 $ 207,088 $ 560,228 Net Provision (Release) 164,254 5,157 136,359 305,770 113,932 (10,445) 107,217 210,704 Charge-offs (163,478) (5,116) (153,984) (322,578) (21,616) (8,176) (160,465) (190,257) Recoveries of Amounts Previously Charged-off 5,650 — 23,123 28,773 — — 21,768 21,768 Balance, as of End of Period $ 326,057 $ 107,245 $ 181,106 $ 614,408 $ 319,631 $ 107,204 $ 175,608 $ 602,443 Year Ended December 31, 2022 Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Balance, as of Beginning of Period $ 65,970 $ 72,082 $ 236,025 $ 374,077 Net Provision (Release) 161,345 74,798 133,153 369,296 Charge-offs (1) — (21,055) (162,090) (183,145) Balance, as of End of Period $ 227,315 $ 125,825 $ 207,088 $ 560,228 (1) Consumer and other loan receivables included $12.8 million of recoveries for the year ended December 31, 2022. Proceeds and Gross Gains and Losses from Voluntary Sales The proceeds from voluntary sales and the gross gains and losses on those sales of available-for-sale ("AFS") fixed maturity securities were as follows: Years Ended December 31, 2024 2023 2022 AFS Fixed Maturity Securities: Proceeds from Voluntary Sales $ 19,370,239 $ 6,687,271 $ 12,050,106 Gross Gains $ 112,264 $ 62,452 $ 21,567 Gross Losses $ (643,899) $ (120,799) $ (569,706) The following reflects the reconciliation of the components of insurance intangibles to the total balance reported in the consolidated statements of financial condition as of December 31, 2024 and 2023: December 31, December 31, 2024 2023 Deferred Acquisition Costs, or "DAC" $ 1,731,076 $ 1,154,697 Value of Business Acquired 1,165,193 1,252,984 Cost-of-Reinsurance Intangibles 2,302,674 2,043,143 Total Insurance Intangibles $ 5,198,943 $ 4,450,824 Deferred Acquisition Costs The following tables reflect the deferred acquisition costs roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 373,863 $ 481,970 $ 132,079 $ 166,785 $ 1,154,697 Capitalizations 197,662 404,165 7,640 202,251 811,718 Amortization Expense (108,132) (98,550) (8,576) (20,081) (235,339) Balance, as of the End of the Period $ 463,393 $ 787,585 $ 131,143 $ 348,955 $ 1,731,076 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 221,679 $ 367,813 $ 116,021 $ 115,457 $ 820,970 Capitalizations 218,243 175,869 23,592 66,458 484,162 Amortization Expense (66,059) (61,712) (7,534) (15,130) (150,435) Balance, as of the End of the Period $ 373,863 $ 481,970 $ 132,079 $ 166,785 $ 1,154,697 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 107,104 $ 179,449 $ 54,298 $ 56,730 $ 397,581 Capitalizations 144,635 220,866 67,892 69,515 502,908 Amortization Expense (30,060) (32,502) (6,169) (10,788) (79,519) Balance, as of the End of the Period $ 221,679 $ 367,813 $ 116,021 $ 115,457 $ 820,970 Value of Business Acquired The following tables reflect the value of business acquired, or “VOBA” asset roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 44,922 $ 621,372 $ 262,942 $ 245,042 $ 78,706 $ 1,252,984 Amortization Expense (3,687) (43,210) (13,530) (20,695) (6,669) (87,791) Balance, as of the End of the Period $ 41,235 $ 578,162 $ 249,412 $ 224,347 $ 72,037 $ 1,165,193 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 48,762 $ 663,296 $ 276,795 $ 241,778 $ 85,898 $ 1,316,529 Amortization Expense (3,840) (41,924) (13,853) 3,264 (7,192) (63,545) Balance, as of the End of the Period $ 44,922 $ 621,372 $ 262,942 $ 245,042 $ 78,706 $ 1,252,984 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 52,723 $ 709,271 $ 292,323 $ 269,172 $ 94,479 $ 1,417,968 Amortization Expense (3,961) (45,975) (15,528) (27,394) (8,581) (101,439) Balance, as of the End of the Period $ 48,762 $ 663,296 $ 276,795 $ 241,778 $ 85,898 $ 1,316,529 The following tables reflect the negative value of business acquired, or “negative VOBA” liability roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 65,966 $ 106,538 $ 421,213 $ 91,295 $ 182,920 $ 867,932 Amortization Expense (21,534) (31,283) (29,397) (6,113) (13,297) (101,624) Balance, as of the End of the Period $ 44,432 $ 75,255 $ 391,816 $ 85,182 $ 169,623 $ 766,308 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 98,342 $ 145,610 $ 461,592 $ 99,776 $ 198,804 $ 1,004,124 Amortization Expense (32,376) (39,072) (40,379) (8,481) (15,884) (136,192) Balance, as of the End of the Period $ 65,966 $ 106,538 $ 421,213 $ 91,295 $ 182,920 $ 867,932 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 136,227 $ 184,664 $ 500,264 $ 109,826 $ 211,296 $ 1,142,277 Amortization Expense (37,885) (39,054) (38,672) (10,050) (12,492) (138,153) Balance, as of the End of the Period $ 98,342 $ 145,610 $ 461,592 $ 99,776 $ 198,804 $ 1,004,124 Estimated future amortization of VOBA and Negative VOBA as of December 31, 2024, is as follows: Years VOBA Negative VOBA Total, net 2025 $ 84,071 $ (86,456) $ (2,385) 2026 78,852 (70,146) 8,706 2027 73,940 (59,329) 14,611 2028 69,456 (51,274) 18,182 2029 65,376 (45,433) 19,943 Thereafter 793,498 (453,670) 339,828 Total $ 1,165,193 $ (766,308) $ 398,885 Unearned Revenue Reserves and Unearned Front-end Loads Years Ended December 31, 2024 2023 2022 Preneed Balance, as of the Beginning of the Period $ 178,053 $ 118,186 $ 55,510 Deferral 69,303 71,798 69,548 Amortized to Income during the Period (16,566) (11,931) (6,872) Balance, as of the End of the Period $ 230,790 $ 178,053 $ 118,186 Significant Inputs, Judgments, and Assumptions for DAC and Related Amortization Amounts Global Atlantic considers surrender rates, mortality rates, and other relevant policy decrements in determining the expected life of the contract. As a part of Global Atlantic's actual experience update for the year ended December 31, 2024, Global Atlantic concluded that there was no material change in relevant inputs, judgments, or assumptions requiring an update of the amortization rate for DAC and related amortization amounts. For the year ended December 31, 2023, Global Atlantic updated mortality and surrender assumptions. These updates reduced the amortization rate for DAC and related amortization amounts by $4.4 million per year.

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2024
Investments [Abstract]
INVESTMENTS	90 Days Total Residential Mortgage Loans $ — $ 4,266 $ 71,170 $ 195,691 $ 271,127 Total Assets Pledged $ — $ 4,266 $ 71,170 $ 195,691 $ 271,127 As of December 31, 2023 Overnight <30 Days 30 - 90 Days > 90 Days Total AFS Corporate Securities $ — $ — $ 524,411 $ 849,368 $ 1,373,779 Residential Mortgage Loans — 39,289 — — 39,289 Total Assets Pledged $ — $ 39,289 $ 524,411 $ 849,368 $ 1,413,068 Other Pledges and Restrictions Certain Global Atlantic subsidiaries are members of regional banks in the FHLB system and such membership requires the members to own stock in these FHLBs. Global Atlantic owns an aggregate of $117.8 million and $131.7 million (accounted for at cost basis) of stock in FHLBs as of December 31, 2024 and 2023, respectively. In addition, Global Atlantic insurance company subsidiaries have entered into funding agreements with the FHLB, which require that Global Atlantic pledge eligible assets, such as fixed maturity securities and mortgage loans, as collateral. Assets pledged as collateral for these funding agreements had a carrying value of $4.6 billion and $3.6 billion as of December 31, 2024 and 2023, respectively. The capital stock of one of Global Atlantic’s equity method investments has been pledged as collateral security for the due payment and performance of the debt obligations of the investee. Global Atlantic’s investment subject to this pledge had a carrying value of $834.4 million as of December 31, 2024. Insurance – Statutory Deposits As of December 31, 2024 and 2023, the carrying value of the assets on deposit with various state and U.S. governmental authorities were $141.1 million and $148.5 million, respectively." id="sjs-B4">INVESTMENTS Investments consist of the following: December 31, 2024 December 31, 2023 Asset Management and Strategic Holdings Private Equity $ 34,462,952 $ 32,742,484 Credit 8,054,581 8,274,904 Investments of Consolidated CFEs 27,488,538 24,996,298 Real Assets 13,222,738 12,000,008 Equity Method - Other 8,333,527 8,163,831 Equity Method - Capital Allocation-Based Income 9,798,370 7,877,904 Other Investments 5,092,344 4,579,372 Investments - Asset Management and Strategic Holdings $ 106,453,051 $ 98,634,801 Insurance Fixed Maturity Securities, Available-for-sale, at Fair Value (1) $ 76,259,956 $ 69,414,188 Mortgage and Other Loan Receivables 52,751,077 39,177,927 Fixed Maturity Securities, Trading, at Fair Value (2) 21,419,241 18,805,470 Real Assets (3)(4) 14,078,498 9,342,318 Policy Loans 1,622,958 1,556,030 Other Investments (4)(5) 1,475,156 360,745 Funds Withheld Receivable at Interest 2,537,858 2,713,645 Investments - Insurance (6) $ 170,144,744 $ 141,370,323 Total Investments $ 276,597,795 $ 240,005,124 (1) Amortized cost of $85.6 billion and $78.7 billion, net of credit loss allowances of $275.3 million and $268.7 million, respectively. (2) Amortized cost of $23.8 billion and $20.5 billion, respectively. Trading fixed maturity securities are primarily held to back funds withheld payable at interest. The investment performance on these investments is ceded to third-party reinsurers. (3) Net of accumulated depreciation of $623.1 million and $467.7 million, respectively. (4) Real assets of $1.0 billion and $104.7 million, respectively, and other investments of $682.9 million and $38.6 million, respectively, are accounted for using the equity method of accounting. Global Atlantic's maximum exposure to loss related to these equity method investments is limited to the carrying value of these investments plus unfunded commitments of $23.0 million and $19.7 million, respectively. In addition, Global Atlantic has investments that would otherwise require the equity method of accounting for which the fair value option has been elected. The carrying amount of these investments was $476.3 million and $175.3 million, respectively. (5) Other investments include equity securities, limited partnership interests, investments in FHLB common stock, and other interests. (6) As of December 31, 2024 and 2023, the carrying value reflects the elimination for the portion of applicable investments that are held in Asset Management and Strategic Holdings consolidated investment vehicles and other entities. As of December 31, 2024 and 2023, there were no investments which represented greater than 5% of total investments. Equity Method KKR evaluates its equity method investments for which KKR has not elected the fair value option for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. During the years ended December 31, 2024, 2023, and 2022, there were no impairment charges related to equity method investments. Summarized Financial Information KKR evaluates each of its equity method investments to determine if any are significant as defined in the regulations promulgated by the U.S. Securities and Exchange Commission (the "SEC"). As of and for the years ended December 31, 2024, 2023, and 2022, no individual equity method investment held by KKR met the significance criteria. As such, KKR is not required to present separate financial statements for any of its equity method investments. The following table shows summarized financial information relating to the statements of financial condition for all of KKR's equity method investments assuming 100% ownership as of December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Asset Management and Strategic Holdings Total Assets $ 252,104,471 $ 245,172,170 Total Liabilities $ 63,141,812 $ 67,695,320 Total Equity $ 188,962,659 $ 177,476,850 Insurance Total Assets $ 18,317,590 $ 5,643,540 Total Liabilities $ 10,321,725 $ 3,040,471 Total Equity $ 7,995,865 $ 2,603,069 The following table shows summarized financial information relating to the statements of operations for all of KKR's equity method investments assuming 100% ownership for the years ended December 31, 2024, 2023, and 2022: For the Years Ended December 31, 2024 2023 2022 Asset Management and Strategic Holdings Investment Related Revenues $ 17,725,187 $ 17,454,663 $ 28,379,991 Other Revenues 1,300,377 854,595 826,557 Investment Related Expenses 13,254,876 18,623,867 4,297,342 Other Expenses 1,997,379 422,050 223,953 Net Realized and Unrealized Gains (Losses) from Investments 20,646,085 15,795,029 (16,279,901) $ 24,419,394 $ 15,058,370 $ 8,405,352 Insurance Revenues $ 2,555,196 $ 416,360 $ 1,365,222 Expenses 2,610,301 482,056 708,229 $ (55,105) $ (65,696) $ 656,993 Net Income (Loss) $ 24,364,289 $ 14,992,674 $ 9,062,345 Fixed maturity securities The cost or amortized cost and fair value for AFS fixed maturity securities were as follows: Cost or Amortized Cost Allowance for Credit Losses (1)(2) Gross Unrealized Fair Value As of December 31, 2024 Gains Losses AFS Fixed Maturity Securities Portfolio by Type: U.S. Government and Agencies $ 2,576,106 $ — $ 227 $ (184,926) $ 2,391,407 U.S. State, Municipal and Political Subdivisions 4,774,108 — 5,290 (1,009,937) 3,769,461 Corporate 48,862,650 (99,616) 119,998 (6,943,765) 41,939,267 Residential Mortgage-backed Securities, or “RMBS” 10,964,553 (115,810) 54,319 (624,040) 10,279,022 Commercial Mortgage-backed Securities, or “CMBS” 8,387,194 (44,024) 28,702 (381,505) 7,990,367 Collateralized Bond Obligations, or “CBOs” 2,487,066 (1,190) — (79,644) 2,406,232 CLOs 4,106,046 (6,620) 24,177 (22,265) 4,101,338 Asset-Backed Securities, or “ABSs” 3,455,133 (8,062) 23,255 (87,464) 3,382,862 Total AFS Fixed Maturity Securities $ 85,612,856 $ (275,322) $ 255,968 $ (9,333,546) $ 76,259,956 (1) Represents the cumulative amount of credit impairments that have been recognized in the consolidated statements of operations (as net investment gains (losses)) or that were recognized as a gross-up of the purchase price of PCD securities. Amount excludes unrealized losses related to non-credit impairment. (2) Includes credit loss allowances on purchase-credit deteriorated fixed maturity securities of $(9.2) million. Cost or Amortized Cost Allowance for Credit Losses (1)(2) Gross Unrealized Fair Value As of December 31, 2023 Gains Losses AFS Fixed Maturity Securities Portfolio by Type: U.S. Government and Agencies $ 1,209,507 $ — $ 62,514 $ (68,929) $ 1,203,092 U.S. State, Municipal and Political Subdivisions 5,562,826 — 29,699 (985,133) 4,607,392 Corporate 46,378,337 (49,008) 211,570 (6,592,143) 39,948,756 RMBS 8,734,629 (152,067) 38,206 (674,550) 7,946,218 CMBS 7,491,743 (35,953) 4,195 (731,358) 6,728,627 CBOs 2,951,511 (1,214) — (143,818) 2,806,479 CLOs 3,493,731 (19,077) 6,483 (52,365) 3,428,772 ABSs 2,901,573 (11,393) 14,358 (159,686) 2,744,852 Total AFS Fixed Maturity Securities $ 78,723,857 $ (268,712) $ 367,025 $ (9,407,982) $ 69,414,188 (1) Represents the cumulative amount of credit impairments that have been recognized in the consolidated statements of operations (as net investment gains (losses)) or that were recognized as a gross-up of the purchase price of PCD securities. Amount excludes unrealized losses related to non-credit impairment. (2) Includes credit loss allowances on purchase-credit deteriorated fixed maturity securities of $(12.8) million. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties, or Global Atlantic may have the right to put or sell the obligations back to the issuers. Structured securities are shown separately as they have periodic payments and are not due at a single maturity. The maturity distribution for AFS fixed maturity securities is as follows: As of December 31, 2024 Cost or Fair Value Due in One Year or Less $ 1,260,728 $ 1,254,003 Due After One Year Through Five Years 12,622,231 12,403,864 Due After Five Years Through Ten Years 9,428,803 9,080,920 Due After Ten Years 32,801,486 25,361,348 Subtotal 56,113,248 48,100,135 RMBS 10,848,743 10,279,022 CMBS 8,343,170 7,990,367 CBOs 2,485,876 2,406,232 CLOs 4,099,426 4,101,338 ABSs 3,447,071 3,382,862 Total AFS Fixed Maturity Securities $ 85,337,534 $ 76,259,956 Purchased Credit Deteriorated Securities Certain securities purchased by Global Atlantic were assessed at acquisition as having experienced a more-than-insignificant deterioration in credit quality since their origination. These securities are identified as PCD, and a reconciliation of the difference between the purchase price and the par value of these PCD securities is below. No assets with credit deterioration were purchased during the years ended December 31, 2024 and 2023. Year Ended December 31, 2022 Purchase Price of PCD Securities Acquired During the Current Period $ 24,005 Allowance for Credit Losses at Acquisition 707 Discount Attributable to Other Factors 1,710 Par Value $ 26,422 Securities in a Continuous Unrealized Loss Position The following tables provide information about AFS fixed maturity securities that have been continuously in an unrealized loss position: Less Than 12 months 12 months or More Total As of December 31, 2024 Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses AFS Fixed Maturity Securities Portfolio by Type: U.S. Government and Agencies $ 2,150,669 $ (110,280) $ 203,661 $ (74,646) $ 2,354,330 $ (184,926) U.S. State, Municipal and Political Subdivisions 251,191 (4,816) 3,305,469 (1,005,121) 3,556,660 (1,009,937) Corporate 12,959,540 (457,706) 18,491,535 (6,486,059) 31,451,075 (6,943,765) RMBS 2,436,204 (62,488) 3,998,635 (561,552) 6,434,839 (624,040) CMBS 1,006,250 (4,683) 3,737,990 (376,822) 4,744,240 (381,505) CBOs 1,158 (81) 2,405,075 (79,563) 2,406,233 (79,644) CLOs 274,025 (1,630) 293,008 (20,635) 567,033 (22,265) ABSs 739,370 (5,581) 1,309,477 (81,883) 2,048,847 (87,464) Total AFS Fixed Maturity Securities in a Continuous Loss Position $ 19,818,407 $ (647,265) $ 33,744,850 $ (8,686,281) $ 53,563,257 $ (9,333,546) Less Than 12 months 12 months or More Total As of December 31, 2023 Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses AFS Fixed Maturity Securities Portfolio by Type: U.S. Government and Agencies $ 94,807 $ (2,512) $ 198,750 $ (66,417) $ 293,557 $ (68,929) U.S. State, Municipal and Political Subdivisions 112,468 (4,140) 3,829,447 (980,993) 3,941,915 (985,133) Corporate 4,360,234 (189,026) 27,108,292 (6,403,117) 31,468,526 (6,592,143) RMBS 1,371,230 (66,550) 4,354,902 (608,000) 5,726,132 (674,550) CMBS 332,095 (4,535) 6,031,766 (726,823) 6,363,861 (731,358) CBOs 1,867 (118) 2,804,612 (143,700) 2,806,479 (143,818) CLOs 246,728 (868) 1,679,813 (51,497) 1,926,541 (52,365) ABSs 553,438 (15,760) 1,742,373 (143,926) 2,295,811 (159,686) Total AFS Fixed Maturity Securities in a Continuous Loss Position $ 7,072,867 $ (283,509) $ 47,749,955 $ (9,124,473) $ 54,822,822 $ (9,407,982) Unrealized gains and losses can be created by changing interest rates or several other factors, including changing credit spreads. Global Atlantic had gross unrealized losses on below investment grade AFS fixed maturity securities of $557.4 million and $694.6 million as of December 31, 2024 and 2023, respectively. The single largest unrealized loss on AFS fixed maturity securities was $54.4 million and $53.4 million as of December 31, 2024 and 2023, respectively. Global Atlantic had 5,966 and 5,886 securities in an unrealized loss position as of December 31, 2024 and 2023, respectively. As of December 31, 2024, AFS fixed maturity securities in an unrealized loss position for 12 months or more consisted of 3,833 fixed maturity securities. AFS fixed maturity securities in an unrealized loss position for 12 months or more with an allowance for credit losses had a fair value and gross unrealized losses of $2.2 billion and $268.4 million, respectively, as of December 31, 2024. These fixed maturity securities primarily relate to Corporate, RMBS, and U.S. state, municipal and political subdivisions fixed maturity securities, which have depressed values due primarily to an increase in interest rates since the purchase of these securities. Unrealized losses were not recognized in net income on these fixed maturity securities since Global Atlantic neither intends to sell the securities nor does it believe that it is more likely than not that it will be required to sell these securities before recovery of their cost or amortized cost basis. For securities with significant declines in value, individual security level analysis was performed utilizing underlying collateral default expectations, market data and industry analyst reports. Mortgage and other loan receivables Mortgage and other loan receivables consist of the following: December 31, 2024 December 31, 2023 Commercial Mortgage Loans (1) $ 25,263,148 $ 21,861,245 Residential Mortgage Loans (1) 21,581,616 12,722,778 Consumer Loans (1) 4,848,208 4,424,882 Other Loan Receivables (1)(2) 1,672,513 771,465 Total Mortgage and Other Loan Receivables $ 53,365,485 $ 39,780,370 Allowance for Credit Losses (3) (614,408) (602,443) Total Mortgage and Other Loan Receivables, Net of Allowance for Credit Losses $ 52,751,077 $ 39,177,927 (1) Includes $1.6 billion and $697.4 million of loans carried at fair value using the fair value option as of December 31, 2024 and 2023, respectively. These loans had unpaid principal balances of $1.8 billion and $785.2 million as of December 31, 2024 and 2023, respectively. (2) As of December 31, 2024, other loan receivables consisted primarily of renewable energy development loans, warehouse facility loans backed by agricultural mortgages, loans collateralized by aircraft and loans collateralized by residential mortgages of $547.2 million, $503.0 million, $271.2 million and $200.0 million, respectively. As of December 31, 2023, other loan receivables consisted primarily of loans collateralized by aircraft and loans collateralized by residential mortgages of $315.4 million and $200.0 million, respectively. (3) Includes credit loss allowances on purchase-credit deteriorated mortgage and other loan receivables of $(72.2) million and $(91.7) million as of December 31, 2024 and 2023, respectively. The maturity distribution for residential and commercial mortgage loans was as follows as of December 31, 2024: Years Residential Commercial Total Mortgage Loans 2025 $ 4,935 $ 4,755,929 $ 4,760,864 2026 581,437 6,704,132 7,285,569 2027 602,887 7,321,963 7,924,850 2028 126,129 1,579,826 1,705,955 2029 11,336 1,339,578 1,350,914 Thereafter 20,254,892 3,561,720 23,816,612 Total $ 21,581,616 $ 25,263,148 $ 46,844,764 Actual maturities could differ from contractual maturities because borrowers may have the right to prepay (with or without prepayment penalties) and loans may be refinanced. Global Atlantic diversifies its mortgage loan portfolio by both geographic region and property type to reduce concentration risk. The following tables present the mortgage loans by geographic region and property type: Mortgage Loans – Carrying Value by Geographic Region December 31, 2024 December 31, 2023 South Atlantic $ 13,215,065 28.2 % $ 9,653,955 27.9 % Pacific 11,739,093 25.1 % 8,649,256 25.0 % Middle Atlantic 5,841,960 12.5 % 4,436,129 12.8 % West South Central 5,395,952 11.5 % 4,202,501 12.2 % Mountain 4,001,411 8.5 % 3,262,801 9.4 % New England 1,679,335 3.6 % 1,470,741 4.3 % East North Central 1,505,688 3.2 % 1,166,460 3.4 % East South Central 986,070 2.1 % 731,053 2.1 % West North Central 455,503 1.0 % 358,609 1.0 % Foreign and Other Regions 2,024,687 4.3 % 652,518 1.9 % Total by Geographic Region $ 46,844,764 100.0 % $ 34,584,023 100.0 % Mortgage Loans – Carrying Value by Property Type December 31, 2024 December 31, 2023 Residential $ 21,581,616 46.1 % $ 12,722,778 36.8 % Multi-family 12,793,478 27.3 % 11,495,638 33.2 % Industrial 6,357,311 13.6 % 4,415,819 12.8 % Office Building 4,468,303 9.5 % 4,586,277 13.3 % Other Property Types 804,743 1.7 % 578,799 1.7 % Retail 504,812 1.1 % 493,596 1.4 % Warehouse 334,501 0.7 % 291,116 0.8 % Total by Property Type $ 46,844,764 100.0 % $ 34,584,023 100.0 % As of December 31, 2024 and 2023, Global Atlantic had $406.9 million and $510.9 million of mortgage loans that were 90 days or more past due or are in the process of foreclosure, respectively, and have been classified as non-income producing (non-accrual status). Global Atlantic ceases accrual of interest on loans that are more than 90 days past due or are in the process of foreclosure and recognizes income as cash is received. Credit Quality Indicators Mortgage and Consumer Loan Receivable Performance Status The following table represents the portfolio of mortgage and consumer loan receivables by origination year and performance status as of December 31, 2024 and 2023: By Year of Origination Performance Status as of December 31, 2024 2024 2023 2022 2021 2020 Prior Total Commercial Mortgage Loans Gross Charge-offs for the Year Ended December 31, 2024 $ — $ — $ (20,387) $ (80,798) $ (10,695) $ (51,598) $ (163,478) Current $ 4,626,771 $ 3,575,323 $ 6,012,774 $ 6,414,939 $ 559,931 $ 3,899,288 $ 25,089,026 30 to 59 Days Past Due — — — — — — — 60 to 89 Days Past Due — — — — — 42,335 42,335 90 days or More Past Due or in Process of Foreclosure — — — 96,787 — 35,000 131,787 Total Commercial Mortgage Loans $ 4,626,771 $ 3,575,323 $ 6,012,774 $ 6,511,726 $ 559,931 $ 3,976,623 $ 25,263,148 Residential Mortgage Loans Gross Charge-offs for the Year Ended December 31, 2024 $ (15) $ (7) $ (1,308) $ (2,565) $ (524) $ (697) $ (5,116) Current $ 8,277,782 $ 3,958,884 $ 1,948,869 $ 4,010,265 $ 1,192,287 $ 1,470,411 $ 20,858,498 30 to 59 Days Past Due 67,924 89,078 64,113 39,326 6,140 90,891 357,472 60 to 89 Days Past Due 20,388 24,336 10,303 11,554 325 23,597 90,503 90 days or More Past Due or in Process of Foreclosure 9,550 42,672 36,404 64,990 9,235 112,292 275,143 Total Residential Mortgage Loans $ 8,375,644 $ 4,114,970 $ 2,059,689 $ 4,126,135 $ 1,207,987 $ 1,697,191 $ 21,581,616 Consumer Loans Gross Charge-offs for the Year Ended December 31, 2024 $ (1,345) $ (6,896) $ (22,614) $ (73,814) $ (19,872) $ (29,251) $ (153,792) Current $ 592,705 $ 454,890 $ 691,198 $ 1,394,197 $ 566,071 $ 1,050,090 $ 4,749,151 30 to 59 Days Past Due 860 2,444 3,433 22,069 4,090 14,816 47,712 60 to 89 Days Past Due 517 1,194 2,178 10,399 2,299 7,874 24,461 90 days or More Past Due or in Process of Foreclosure 278 2,317 3,351 9,656 2,650 8,632 26,884 Total Consumer Loans $ 594,360 $ 460,845 $ 700,160 $ 1,436,321 $ 575,110 $ 1,081,412 $ 4,848,208 Total Mortgage and Consumer Loan Receivables $ 13,596,775 $ 8,151,138 $ 8,772,623 $ 12,074,182 $ 2,343,028 $ 6,755,226 $ 51,692,972 By Year of Origination Performance Status as of December 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial Mortgage Loans Gross Charge-offs for the Year Ended December 31, 2023 $ — $ — $ — $ — $ (14,000) $ (7,616) $ (21,616) Current $ 3,600,652 $ 6,278,419 $ 6,633,293 $ 624,457 $ 1,395,717 $ 2,969,381 $ 21,501,919 30 to 59 Days Past Due — — — — — — — 60 to 89 Days Past Due — — — — — 79,635 79,635 90 days or More Past Due or in Process of Foreclosure — — 182,069 36,859 — 60,763 279,691 Total Commercial Mortgage Loans $ 3,600,652 $ 6,278,419 $ 6,815,362 $ 661,316 $ 1,395,717 $ 3,109,779 $ 21,861,245 Residential Mortgage Loans Gross Charge-offs for the Year Ended December 31, 2023 $ (6) $ (1,228) $ (2,244) $ (913) $ (1,412) $ (2,373) $ (8,176) Current $ 2,794,600 $ 1,981,373 $ 4,518,357 $ 1,358,200 $ 221,566 $ 1,365,231 $ 12,239,327 30 to 59 Days Past Due 43,432 22,291 37,082 3,554 5,461 84,079 195,899 60 to 89 Days Past Due 8,467 8,520 9,991 1,437 1,389 26,565 56,369 90 days or More Past Due or in Process of Foreclosure 2,518 19,326 72,753 12,048 9,265 115,273 231,183 Total Residential Mortgage Loans $ 2,849,017 $ 2,031,510 $ 4,638,183 $ 1,375,239 $ 237,681 $ 1,591,148 $ 12,722,778 Consumer Loans Gross Charge-offs for the Year Ended December 31, 2023 $ (185) $ (18,117) $ (83,147) $ (23,273) $ (15,740) $ (19,783) $ (160,245) Current $ 109,393 $ 497,113 $ 1,726,280 $ 701,655 $ 610,988 $ 656,270 $ 4,301,699 30 to 59 Days Past Due 1,707 4,229 28,966 5,082 4,497 12,686 57,167 60 to 89 Days Past Due 1,193 2,548 14,872 3,298 2,561 6,756 31,228 90 days or More Past Due or in Process of Foreclosure 2,597 3,991 13,461 4,281 3,907 6,551 34,788 Total Consumer Loans $ 114,890 $ 507,881 $ 1,783,579 $ 714,316 $ 621,953 $ 682,263 $ 4,424,882 Total Mortgage and Consumer Loan Receivables $ 6,564,559 $ 8,817,810 $ 13,237,124 $ 2,750,871 $ 2,255,351 $ 5,383,190 $ 39,008,905 Loan-to-value Ratio on Mortgage Loans The loan-to-value ratio is expressed as a percentage of the current amount of the loan relative to the value of the underlying collateral. The following table summarizes Global Atlantic's loan-to-value ratios for its commercial mortgage loans as of December 31, 2024 and 2023: Loan-to-value as of December 31, 2024 by Year of Origination Carrying Value Loan-to-value 70% and Less Carrying Value Loan-to-value 71% - 90% Carrying Value Loan-to-value Over 90% Total Carrying Value 2024 $ 4,487,814 $ 138,957 $ — $ 4,626,771 2023 3,575,323 — — 3,575,323 2022 5,646,922 365,852 — 6,012,774 2021 4,931,730 1,429,694 150,302 6,511,726 2020 433,377 91,524 35,030 559,931 2019 1,145,297 54,501 39,308 1,239,106 Prior 2,538,853 53,510 145,154 2,737,517 Total Commercial Mortgage Loans $ 22,759,316 $ 2,134,038 $ 369,794 $ 25,263,148 Loan-to-value as of December 31, 2023 by Year of Origination Carrying Value Loan-to-value 70% and Less Carrying Value Loan-to-value 71% - 90% Carrying Value Loan-to-value Over 90% Total Carrying Value 2023 $ 3,600,652 $ — $ — $ 3,600,652 2022 5,912,623 365,796 — 6,278,419 2021 5,110,011 1,483,763 221,588 6,815,362 2020 496,085 93,210 72,021 661,316 2019 1,257,983 93,661 44,073 1,395,717 2018 881,620 52,640 114,989 1,049,249 Prior 1,991,780 — 68,750 2,060,530 Total Commercial Mortgage Loans $ 19,250,754 $ 2,089,070 $ 521,421 $ 21,861,245 Changing economic conditions and updated assumptions affect Global Atlantic's assessment of the collectibility of commercial mortgage loans. Changing vacancies and rents are incorporated into the analysis that Global Atlantic performs to measure the allowance for credit losses. In addition, Global Atlantic continuously monitors its commercial mortgage loan portfolio to identify risk. Areas of emphasis are properties that have exposure to specific geographic events or have deteriorating credit. The weighted average loan-to-value ratio for Global Atlantic's residential mortgage loans was 63% as of both December 31, 2024 and 2023. Loan Modifications Global Atlantic may modify the terms of a loan when the borrower is experiencing financial difficulties, as a means to optimize recovery of amounts due on the loan. Modifications may involve temporary relief, such as payment forbearance for a short period time (where interest continues to accrue) or may involve more substantive changes to a loan. Changes to the terms of a loan, pursuant to a modification agreement, are factored into the analysis of the loan’s expected credit losses, under the allowance model applicable to the loan. For commercial mortgage loans, modifications for borrowers experiencing financial difficulty are tailored for individual loans and may include interest rate relief, maturity extensions or, less frequently, principal forgiveness. For both residential mortgage loans and consumer loans, the most common modifications for borrowers experiencing financial difficulty, aside from insignificant delays in payment, typically involve deferral of missed payments to the end of the loan term, interest rate relief, or maturity extensions. The tables below present the carrying value of loans to borrowers experiencing financial difficulty, for which modifications have been granted during the years ended December 31, 2024 and 2023: Year Ended December 31, 2024 by Loan Type Deferral of Amounts Due Interest Rate Relief Maturity Extension Combination (1) Total Percentage of Total Carrying Value Outstanding Commercial Mortgage Loans $ — $ — $ — $ 387,903 $ 387,903 1.54 % Residential Mortgage Loans 4,563 — — 14,227 18,790 0.09 % Consumer Loans 2,795 901 29,865 50,963 84,524 1.74 % Total (2) $ 7,358 $ 901 $ 29,865 $ 453,093 $ 491,217 (1) Includes modifications involving a combination of deferral of amounts due, interest rate relief, or maturity extension. (2) Excludes loans that were modified during the year, but were repaid in full by year end. Year Ended December 31, 2023 by Loan Type Deferral of Amounts Due Interest Rate Relief Maturity Extension Combination (1) Total Percentage of Total Carrying Value Outstanding Commercial Mortgage Loans $ — $ — $ — $ 478,836 $ 478,836 2.19 % Residential Mortgage Loans 1,371 1,206 25,130 8,145 35,852 0.28 % Consumer Loans 6,515 3,768 48,568 18,465 77,316 1.75 % Total (2) $ 7,886 $ 4,974 $ 73,698 $ 505,446 $ 592,004 (1) Includes modifications involving a combination of deferral of amounts due, interest rate relief, or maturity extension. (2) Excludes loans that were modified during the year, but were repaid in full by year end. All of the commercial mortgage loans that had a combination of modifications had both interest rate relief and maturity extensions. For these loans, the interest rate relief generally involved either a change from a floating rate or a decrease in fixed rate to a weighted average rate of 4.9% and 3.6%, for the years ended December 31, 2024 and 2023, respectively. The maturity extensions for these loans added a weighted-average of 2.9 years and 2.5 years to the life of the loans, for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, Global Atlantic has commitments to lend additional funds of $42.1 million for the modified commercial mortgage loans disclosed above. The table below presents the performance status of the loans modified during the twelve months ended December 31, 2024: Performance Status as of December 31, 2024 by Loan Type Current 30-59 Days Past Due 60-89 Days Past Due 90 days or More Past Due or in Process of Foreclosure Total Commercial Mortgage Loans $ 387,903 $ — $ — $ — $ 387,903 Residential Mortgage Loans 15,461 1,519 158 1,652 18,790 Consumer Loans 63,094 12,867 5,287 3,276 84,524 Total (1) $ 466,458 $ 14,386 $ 5,445 $ 4,928 $ 491,217 (1) Loans may have been modified more than once during the twelve months period; in this circumstance, the loan is only included once in this table. Modified loans that were subsequently repaid are excluded. Repurchase Agreement Transactions As of December 31, 2024 and 2023, Global Atlantic participated in repurchase agreements with a notional value of $261.4 million and $1.4 billion, respectively. As collateral for these transactions, Global Atlantic typically posts AFS fixed maturity securities and residential mortgage loans, which are included in Insurance - Investments in the consolidated statements of financial condition. The gross obligation for repurchase agreements is reported in Other Liabilities in the consolidated statements of financial condition. The carrying value of assets pledged for repurchase agreements by type of collateral and remaining contractual maturity of the repurchase agreements as of December 31, 2024 and 2023 is presented in the following tables: As of December 31, 2024 Overnight <30 Days 30 - 90 Days > 90 Days Total Residential Mortgage Loans $ — $ 4,266 $ 71,170 $ 195,691 $ 271,127 Total Assets Pledged $ — $ 4,266 $ 71,170 $ 195,691 $ 271,127 As of December 31, 2023 Overnight <30 Days 30 - 90 Days > 90 Days Total AFS Corporate Securities $ — $ — $ 524,411 $ 849,368 $ 1,373,779 Residential Mortgage Loans — 39,289 — — 39,289 Total Assets Pledged $ — $ 39,289 $ 524,411 $ 849,368 $ 1,413,068 Other Pledges and Restrictions Certain Global Atlantic subsidiaries are members of regional banks in the FHLB system and such membership requires the members to own stock in these FHLBs. Global Atlantic owns an aggregate of $117.8 million and $131.7 million (accounted for at cost basis) of stock in FHLBs as of December 31, 2024 and 2023, respectively. In addition, Global Atlantic insurance company subsidiaries have entered into funding agreements with the FHLB, which require that Global Atlantic pledge eligible assets, such as fixed maturity securities and mortgage loans, as collateral. Assets pledged as collateral for these funding agreements had a carrying value of $4.6 billion and $3.6 billion as of December 31, 2024 and 2023, respectively. The capital stock of one of Global Atlantic’s equity method investments has been pledged as collateral security for the due payment and performance of the debt obligations of the investee. Global Atlantic’s investment subject to this pledge had a carrying value of $834.4 million as of December 31, 2024. Insurance – Statutory Deposits As of December 31, 2024 and 2023, the carrying value of the assets on deposit with various state and U.S. governmental authorities were $141.1 million and $148.5 million, respectively.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES Asset Management and Strategic Holdings KKR and certain of its consolidated funds have entered into derivative transactions as part of the overall risk management for their investment strategies. These derivative contracts are not designated as hedging instruments for accounting purposes. Such contracts may include forward, swap, and option contracts related to foreign currencies and interest rates to manage foreign exchange risk and interest rate risk arising from certain assets and liabilities. All derivatives are recognized in Other Assets or Accrued Expenses and Other Liabilities and are presented on a gross basis in the consolidated statements of financial condition and measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. KKR's derivative financial instruments contain credit risk to the extent that its counterparties may be unable to meet the terms of the agreements. KKR attempts to reduce this risk by limiting its counterparties to major financial institutions with strong credit ratings. Insurance Global Atlantic holds derivative instruments that are primarily used in its hedge program. Global Atlantic has established a hedge program that seeks to mitigate economic impacts primarily from interest rate and equity price movements, while taking into consideration accounting and capital impacts. Global Atlantic hedges interest rate and equity market risks associated with its insurance liabilities including fixed-indexed annuities, indexed universal life policies, variable annuity policies, and variable universal life policies, among others. For fixed-indexed annuities and indexed universal life policies, Global Atlantic generally seeks to use static hedges to offset the exposure primarily created by changes in its embedded derivative balances. Global Atlantic generally purchases options which replicate the crediting rate strategies, often in the form of call spreads. Call spreads are the purchase of a call option matched by the sale of a different call option. For variable annuities and variable universal life policies, Global Atlantic generally seeks to dynamically hedge its exposure to changes in the value of the guarantee it provides to policyholders. Doing so requires the active trading of several financial instruments to respond to changes in market conditions. In addition, Global Atlantic enters into inflation swaps to manage inflation risk associated with inflation-indexed preneed policies. In the context of specific reinsurance transactions in the institutional channel or acquisitions, Global Atlantic may also enter into hedges which are designed to limit short-term market risks to the economic value of the target assets. From time to time, Global Atlantic also enters into hedges designed to mitigate interest rate and credit risk in investment income, interest expense, and fair value of assets and liabilities. In addition, Global Atlantic enters into currency swaps and forwards to manage any foreign exchange rate risks that may arise from investments denominated in foreign currencies. Global Atlantic attempts to mitigate the risk of loss due to ineffectiveness under these derivative investments through a regular monitoring process which evaluates the program’s effectiveness. Global Atlantic monitors its derivative activities by reviewing portfolio activities and risk levels. Global Atlantic also oversees all derivative transactions to ensure that the types of transactions entered into and the results obtained from those transactions are consistent with both Global Atlantic's risk management strategy and its policies and procedures. The restricted cash which was held in connection with open derivative transactions with exchange brokers was $135.7 million and $133.0 million as of December 31, 2024 and 2023, respectively. Global Atlantic also has embedded derivatives related to reinsurance contracts that are accounted for on a modified coinsurance and funds withheld basis. An embedded derivative exists because the arrangement exposes the reinsurer to third-party credit risk. These embedded derivatives are included in funds withheld receivable and payable at interest in the consolidated statements of financial condition. Credit Risk Global Atlantic may be exposed to credit-related losses in the event of nonperformance by its counterparties to derivatives. Generally, the current credit exposure of Global Atlantic’s derivatives is limited to the positive fair value of derivatives less any collateral received from the counterparty. Global Atlantic manages the credit risk on its derivatives by entering into derivative transactions with highly rated financial institutions and other creditworthy counterparties and, where feasible, by trading through central clearing counterparties. Global Atlantic further manages its credit risk on derivatives via the use of master netting agreements, which require the daily posting of collateral by the party in a liability position. Counterparty credit exposure and collateral values are monitored regularly and measured against counterparty exposure limits. The provisions of derivative transactions may allow for the termination and settlement of a transaction if there is a downgrade to Global Atlantic’s financial strength ratings below a specified level. The fair value and notional value of the derivative assets and liabilities were as follows: As of December 31, 2024 Notional Derivative Derivative Asset Management and Strategic Holdings Foreign Exchange Contracts and Options $ 19,452,993 $ 511,513 $ 131,339 Other Derivatives 455,500 8,444 — Total Asset Management and Strategic Holdings $ 19,908,493 $ 519,957 $ 131,339 Insurance Derivatives Designated as Hedge Accounting Instruments: Interest Rate Contracts $ 15,490,742 $ 41,578 $ 511,118 Foreign Currency Contracts 2,541,093 66,774 28,878 Total Derivatives Designated as Hedge Accounting Instruments $ 18,031,835 $ 108,352 $ 539,996 Derivatives Not Designated as Hedge Accounting Instruments: Equity Market Contracts $ 37,151,092 $ 1,921,164 $ 143,049 Interest Rate Contracts 29,211,430 206,222 561,452 Foreign Currency Contracts 2,887,035 108,929 54,679 Other Contracts 61,508 1,895 194 Total Derivatives Not Designated as Hedge Accounting Instruments $ 69,311,065 $ 2,238,210 $ 759,374 Counterparty Netting (2) — (648,549) (648,549) Cash Collateral — (1,636,662) (261,634) Total Insurance (1) $ 87,342,900 $ 61,351 $ 389,187 Fair Value Included Within Total Assets and Liabilities $ 107,251,393 $ 581,308 $ 520,526 (1) Excludes embedded derivatives. The fair value of these embedded derivatives related to assets was $125.9 million and the fair value of these embedded derivatives related to liabilities was $3.2 billion as of December 31, 2024. (2) Represents netting of derivative exposures covered by qualifying master netting agreements. As of December 31, 2023 Notional Derivative Derivative Asset Management and Strategic Holdings Foreign Exchange Contracts and Options $ 15,771,463 $ 264,621 $ 441,608 Other Derivatives 374,604 4,792 2,382 Total Asset Management and Strategic Holdings $ 16,146,067 $ 269,413 $ 443,990 Insurance Derivatives Designated as Hedge Accounting Instruments: Interest Rate Contracts $ 7,320,500 $ — $ 372,212 Foreign Currency Contracts 2,302,335 24,278 73,478 Total Derivatives Designated as Hedge Accounting Instruments $ 9,622,835 $ 24,278 $ 445,690 Derivatives Not Designated as Hedge Accounting Instruments: Equity Market Contracts $ 35,203,206 $ 1,480,875 $ 248,127 Interest Rate Contracts 22,259,423 284,067 306,244 Foreign Currency Contracts 1,331,345 65,803 56,616 Other Contracts 60,000 — 600 Total Derivatives Not Designated as Hedge Accounting Instruments $ 58,853,974 $ 1,830,745 $ 611,587 Counterparty Netting (2) — (694,250) (694,250) Cash Collateral — (1,115,079) (216,830) Total Insurance (1) $ 68,476,809 $ 45,694 $ 146,197 Fair Value Included Within Total Assets and Liabilities $ 84,622,876 $ 315,107 $ 590,187 (1) Excludes embedded derivatives. The fair value of these embedded derivatives related to assets was $88.7 million and the fair value of these embedded derivatives related to liabilities was $1.6 billion as of December 31, 2023. (2) Represents netting of derivative exposures covered by qualifying master netting agreements. Derivatives Designated as Accounting Hedges Where Global Atlantic has derivative instruments that are designated and qualify as accounting hedges, these derivative instruments receive hedge accounting. Fair Value Hedges Global Atlantic has designated foreign exchange derivative contracts, including forwards and swaps, to hedge the foreign currency risk associated with foreign currency-denominated bonds in fair value hedges. These foreign currency-denominated bonds are accounted for as AFS fixed maturity securities. Changes in the fair value of the hedged AFS fixed maturity securities due to changes in spot exchange rates are reclassified from AOCI to earnings, which offsets the earnings impact of the spot changes of the foreign exchange derivative contracts, both of which are recognized within investment-related gains (losses). The effectiveness of these hedges is assessed using the spot method. Changes in the fair value of the foreign exchange derivative contracts related to changes in the spot-forward difference are excluded from the assessment of hedge effectiveness and are deferred in AOCI and recognized in earnings using a systematic and rational method over the life of the foreign exchange derivative contracts. The amortized cost of the AFS fixed maturity securities in qualifying foreign exchange fair value hedges was $2.1 billion and $2.3 billion as of December 31, 2024 and 2023, respectively. Global Atlantic has designated interest rate swaps to hedge the interest rate risk associated with certain debt and policy liabilities. These fair value hedges generally qualify for the shortcut method of assessing hedge effectiveness. The following table presents the financial statement classification, carrying amount, and cumulative fair value hedging adjustments for qualifying hedged debt and policy liabilities: As of December 31, 2024 As of December 31, 2023 Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Liabilities (1) Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Liabilities (1) Debt $ 2,279,261 $ (233,202) $ 1,608,294 $ (165,817) Policy Liabilities 4,453,766 (204,435) 4,380,048 (255,308) (1) Includes $193.3 million and $27.8 million of hedging adjustments on discontinued hedging relationships as of December 31, 2024 and 2023, respectively. Cash Flow Hedges Global Atlantic has designated bond forwards to hedge the interest rate risk associated with the planned purchase of AFS fixed maturity securities in cash flow hedges. These arrangements are hedging purchases through December 2029 and are expected to affect earnings until 2055. Regression analysis is used to assess the effectiveness of these hedges. As of December 31, 2024 and 2023, there was a cumulative gain (loss) of $(249.7) million and $(126.9) million, respectively, on the currently designated bond forwards recorded in accumulated other comprehensive income (loss). Amounts deferred in accumulated other comprehensive income (loss) are reclassified to net investment income following the qualifying purchases of AFS securities, as an adjustment to the yield earned over the life of the purchased securities, using the effective interest method. Global Atlantic has designated interest rate swaps to hedge the interest rate risk associated with floating rate investments, including AFS fixed maturity securities and commercial mortgage loans. Regression analysis is used to assess the effectiveness of these hedges. As of December 31, 2024, there was a cumulative gain (loss) of $(60.8) million on the currently designated interest rate swaps recorded in accumulated other comprehensive income (loss). Amounts deferred in accumulated other comprehensive gain (loss) are reclassified to net investment income in the same period during which the hedged investments affect earnings. For all cash flow hedges, Global Atlantic estimates that the amount of gains/losses in accumulated other comprehensive income (loss) to be reclassified into earnings in the next 12 months will not be material. Net Investment Hedges Global Atlantic has designated cross currency swaps to hedge the foreign currency risk associated with certain foreign currency-denominated equity method investments in net investment hedges. The effectiveness of these hedges is assessed based on changes in spot rates. Changes in the fair value of the swaps are recognized in other comprehensive income, consistent with the translation adjustment for the hedged investment. The component comprising the difference between forward rates and spot rates is amortized to net investment income over the life of the swaps. As of December 31, 2024, the cumulative foreign currency translation gain (loss) recorded in accumulated other comprehensive income related to net investment hedges was $(25.3) million. Derivative Results The following table presents the financial statement classification and amount of gains (losses) recognized on derivative instruments and related hedged items, where applicable. None of the Asset Management and Strategic Holdings derivatives are designated as hedge accounting instruments. The table below includes only derivatives held by Global Atlantic. Year Ended December 31, 2024 Net Investment-Related Gains (Losses) Net Investment Income Net Policy Benefits and Claims Interest Expense Change in AOCI Derivatives Designated as Hedge Accounting Instruments: Fair Value Hedges Gains (Losses) on Derivatives Designated as Hedge Instruments: Interest Rate Contracts $ — $ — $ (108,622) $ (134,580) $ — Foreign Currency Contracts 119,618 4,551 — — (10,977) Total Gains (Losses) on Derivatives Designated as Hedge Instruments $ 119,618 $ 4,551 $ (108,622) $ (134,580) $ (10,977) Gains (Losses) on Hedged Items: Interest Rate Contracts $ — $ — $ 108,622 $ 134,580 $ — Foreign Currency Contracts (117,318) — — — — Total Gains (Losses) on Hedged Items $ (117,318) $ — $ 108,622 $ 134,580 $ — Amortization for Gains (Losses) Excluded from Assessment of Effectiveness: Foreign Currency Contracts $ 20,145 $ — $ — $ — $ — Total Amortization for Gains (Losses) Excluded from Assessment of Effectiveness $ 20,145 $ — $ — $ — $ — Total Gains (Losses) on Fair Value Hedges, Net of Hedged Items $ 22,445 $ 4,551 $ — $ — $ (10,977) Cash Flow Hedges Interest Rate Contracts $ — $ (6,043) $ — $ — $ (183,626) Total Gains (Losses) on Cash Flow Hedges $ — $ (6,043) $ — $ — $ (183,626) Net Investment Hedges Gains (Losses) on Derivatives Designated as Hedge Instruments $ — $ 1,388 $ — $ — $ (25,344) Total Gains (Losses) on Net Investment Hedges $ — $ 1,388 $ — $ — $ (25,344) Derivatives Not Designated as Hedge Accounting Instruments: Insurance Embedded Derivatives - Funds Withheld Receivable $ 37,226 $ — $ — $ — $ — Embedded Derivatives - Funds Withheld Payable 350,241 — — — — Equity Index Options 567,543 — — — — Equity Future Contracts (87,484) — — — — Interest Rate Contracts (569,315) — — — — Foreign Exchange and Other Derivative Contracts 99,271 — — — — Total Gains (Losses) on Derivatives Not Designated as Hedge Accounting Instruments from Insurance Activities $ 397,482 $ — $ — $ — $ — Total $ 419,927 $ (104) $ — $ — $ (219,947) Year Ended December 31, 2023 Net Investment-Related Gains (Losses) Net Investment Income Net Policy Benefits and Claims Interest Expense Change in AOCI Derivatives Designated as Hedge Accounting Instruments: Fair Value Hedges Gains (Losses) on Derivatives Designated as Hedge Instruments: Interest Rate Contracts $ — $ — $ (53,870) $ (20,410) $ — Foreign Currency Contracts (88,384) — — — 9,119 Total Gains (Losses) on Derivatives Designated as Hedge Instruments $ (88,384) $ — $ (53,870) $ (20,410) $ 9,119 Gains (Losses) on Hedged Items: Interest Rate Contracts $ — $ — $ 53,870 $ 20,410 $ — Foreign Currency Contracts 80,210 — — — — Total Gains (Losses) on Hedged Items $ 80,210 $ — $ 53,870 $ 20,410 $ — Amortization for Gains (Losses) Excluded from Assessment of Effectiveness: Foreign Currency Contracts $ 28,345 $ — $ — $ — $ — Total Amortization for Gains (Losses) Excluded from Assessment of Effectiveness $ 28,345 $ — $ — $ — $ — Total Gains (Losses) on Fair Value Hedges, Net of Hedged Items $ 20,171 $ — $ — $ — $ 9,119 Cash Flow Hedges Interest Rate Contracts $ — $ (1,381) $ — $ — $ 33,446 Total Gains (Losses) on Cash Flow Hedges $ — $ (1,381) $ — $ — $ 33,446 Derivatives Not Designated as Hedge Accounting Instruments: Insurance Embedded Derivatives - Funds Withheld Receivable $ 75,876 $ — $ — $ — $ — Embedded Derivatives - Funds Withheld Payable (1,040,463) — — — — Equity Index Options 482,121 — — — — Equity Future Contracts (116,766) — — — — Interest Rate and Foreign Exchange Contracts (101,376) — — — — Other (280) — — — — Total Gains (Losses) on Derivatives Not Designated as Hedge Accounting Instruments from Insurance Activities $ (700,888) $ — $ — $ — $ — Total $ (680,717) $ (1,381) $ — $ — $ 42,565 Year Ended December 31, 2022 Net Investment-Related Gains (Losses) Net Investment Income Net Policy Benefits and Claims Interest Expense Change in AOCI Derivatives Designated as Hedge Accounting Instruments: Fair Value Hedges Gains (Losses) on Derivatives Designated as Hedge Instruments: Interest Rate Contracts $ — $ — $ (382,376) $ (177,855) $ — Foreign Currency Contracts 64,945 — — — (6,784) Total Gains (Losses) on Derivatives Designated as Hedge Instruments $ 64,945 $ — $ (382,376) $ (177,855) $ (6,784) Gains (Losses) on Hedged Items: Interest Rate Contracts $ — $ — $ 382,376 $ 177,855 $ — Foreign Currency Contracts (61,785) — — — — Total Gains (Losses) on Hedged Items $ (61,785) $ — $ 382,376 $ 177,855 $ — Amortization for Gains (Losses) Excluded from Assessment of Effectiveness: Foreign Currency Contracts $ 14,737 $ — $ — $ — $ — Total Amortization for Gains (Losses) Excluded from Assessment of Effectiveness $ 14,737 $ — $ — $ — $ — Total Gains (Losses) on Fair Value Hedges, Net of Hedged Items $ 17,897 $ — $ — $ — $ (6,784) Cash Flow Hedges Interest Rate Contracts $ 1,032 $ — $ — $ — $ (169,785) Total Gains (Losses) on Cash Flow Hedges $ 1,032 $ — $ — $ — $ (169,785) Derivatives Not Designated as Hedge Accounting Instruments: Insurance Embedded Derivatives - Funds Withheld Receivable $ (29,390) $ — $ — $ — $ — Embedded Derivatives - Funds Withheld Payable 3,448,710 — — — — Equity Index Options (895,602) — — — — Equity Future Contracts 167,924 — — — — Interest Rate and Foreign Exchange Contracts (333,937) — — — — Credit Risk Contracts (108) — — — — Other (29,779) — — — — Total Gains (Losses) on Derivatives Not Designated as Hedge Accounting Instruments from Insurance Activities $ 2,327,818 $ — $ — $ — $ — Total $ 2,346,747 $ — $ — $ — $ (176,569) Collateral The amount of Global Atlantic's net derivative assets and liabilities after consideration of collateral received or pledged were as follows: As of December 31, 2024 Gross Amount Recognized Gross Amounts Offset in the Statements of Financial Position (1) Net Amounts Presented in the Statements of Financial Condition Collateral (Received) / Pledged Net Amount after Collateral Derivative Assets (Excluding Embedded Derivatives) $ 2,346,562 $ (2,285,211) $ 61,351 $ (157,782) $ (96,431) Derivative Liabilities (Excluding Embedded Derivatives) $ 1,299,370 $ (910,183) $ 389,187 $ 504,665 $ (115,478) (1) Represents netting of derivative exposures covered by qualifying master netting agreements. As of December 31, 2023 Gross Amount Recognized Gross Amounts Offset in the Statements of Financial Position (1) Net Amounts Presented in the Statements of Financial Condition Collateral (Received) / Pledged Net Amount after Collateral Derivative Assets (Excluding Embedded Derivatives) $ 1,855,023 $ (1,809,329) $ 45,694 $ (45,095) $ 599 Derivative Liabilities (Excluding Embedded Derivatives) $ 1,057,277 $ (911,080) $ 146,197 $ 167,973 $ (21,776) (1) Represents netting of derivative exposures covered by qualifying master netting agreements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The following tables summarize the valuation of assets and liabilities measured and reported at fair value by the fair value hierarchy. Investments classified as Equity Method - Other, for which the fair value option has not been elected, and Equity Method - Capital Allocation-Based Income have been excluded from the tables below. Assets, at fair value: December 31, 2024 Level I Level II Level III Total Asset Management and Strategic Holdings Private Equity $ 816,229 $ 523,274 $ 33,123,449 $ 34,462,952 Credit — 3,249,173 4,805,408 8,054,581 Investments of Consolidated CFEs — 27,488,538 — 27,488,538 Real Assets 436,546 261,902 12,524,290 13,222,738 Equity Method - Other 162,950 264,284 1,405,300 1,832,534 Other Investments 179,102 64,391 4,848,851 5,092,344 Total Investments $ 1,594,827 $ 31,851,562 $ 56,707,298 $ 90,153,687 Foreign Exchange Contracts and Options — 511,513 — 511,513 Other Derivatives 42 8,402 — 8,444 Total Assets at Fair Value - Asset Management and Strategic Holdings $ 1,594,869 $ 32,371,477 $ 56,707,298 $ 90,673,644 Insurance AFS Fixed Maturity Securities: U.S. Government and Agencies $ — $ 2,391,407 $ — $ 2,391,407 U.S. State, Municipal and Political Subdivisions — 3,769,461 — 3,769,461 Corporate — 32,585,117 9,354,150 41,939,267 Structured Securities — 25,851,177 2,308,644 28,159,821 Total AFS Fixed Maturity Securities $ — $ 64,597,162 $ 11,662,794 $ 76,259,956 Trading Fixed Maturity Securities: U.S. Government and Agencies $ — $ 2,425,469 $ — $ 2,425,469 U.S. State, Municipal and Political Subdivisions — 380,175 — 380,175 Corporate — 10,132,588 1,322,304 11,454,892 Structured Securities — 6,399,502 759,203 7,158,705 Total Trading Fixed Maturity Securities $ — $ 19,337,734 $ 2,081,507 $ 21,419,241 Mortgage and Other Loan Receivables — — 1,611,109 1,611,109 Real Assets — — 8,121,139 (1) 8,121,139 Other Investments 207,281 269,250 103,823 (1) 580,354 Funds Withheld Receivable at Interest — — 125,887 125,887 Reinsurance Recoverable — — 940,731 940,731 Derivative Assets: Equity Market Contracts 5,475 1,915,689 — 1,921,164 Interest Rate Contracts — 247,800 — 247,800 Other Contracts — 1,895 — 1,895 Foreign Currency Contracts — 175,703 — 175,703 Counterparty Netting and Cash Collateral (159) (2,285,052) — (2) (2,285,211) Total Derivative Assets $ 5,316 $ 56,035 $ — $ 61,351 Separate Account Assets 3,981,060 — — 3,981,060 Total Assets at Fair Value - Insurance $ 4,193,657 $ 84,260,181 $ 24,646,990 $ 113,100,828 Total Assets at Fair Value $ 5,788,526 $ 116,631,658 $ 81,354,288 $ 203,774,472 December 31, 2023 Level I Level II Level III Total Asset Management and Strategic Holdings Private Equity $ 1,762,257 $ 58,653 $ 30,921,574 $ 32,742,484 Credit 281,626 2,540,362 5,452,916 8,274,904 Investments of Consolidated CFEs — 24,996,298 — 24,996,298 Real Assets 676,808 27,567 11,295,633 12,000,008 Equity Method - Other 418,791 326,835 1,537,962 2,283,588 Other Investments 218,151 95,453 4,265,768 4,579,372 Total Investments $ 3,357,633 $ 28,045,168 $ 53,473,853 $ 84,876,654 Foreign Exchange Contracts and Options — 264,621 — 264,621 Other Derivatives — 4,792 — 4,792 Total Assets at Fair Value - Asset Management and Strategic Holdings $ 3,357,633 $ 28,314,581 $ 53,473,853 $ 85,146,067 Insurance AFS Fixed Maturity Securities: U.S. Government and Agencies $ 1,082,421 $ 120,671 $ — $ 1,203,092 U.S. State, Municipal and Political Subdivisions — 4,607,392 — 4,607,392 Corporate — 31,377,753 8,571,003 39,948,756 Structured Securities — 21,824,948 1,830,000 23,654,948 Total AFS Fixed Maturity Securities $ 1,082,421 $ 57,930,764 $ 10,401,003 $ 69,414,188 Trading Fixed Maturity Securities: U.S. Government and Agencies $ 2,354,194 $ 163,919 $ — $ 2,518,113 U.S. State, Municipal and Political Subdivisions — 1,223,946 — 1,223,946 Corporate — 9,815,909 656,923 10,472,832 Structured Securities — 3,997,341 593,238 4,590,579 Total Trading Fixed Maturity Securities $ 2,354,194 $ 15,201,115 $ 1,250,161 $ 18,805,470 Mortgage and Other Loan Receivables — — 697,402 697,402 Real Assets — — 4,815,265 (1) 4,815,265 Other Investments 4,215 — 126,008 (1) 130,223 Funds Withheld Receivable at Interest — — 88,661 88,661 Reinsurance Recoverable — — 926,035 926,035 Derivative Assets: Equity Market Contracts 1,669 1,479,206 — 1,480,875 Interest Rate Contracts 19,474 264,593 — 284,067 Foreign Currency Contracts — 90,081 — 90,081 Counterparty Netting and Cash Collateral (23,522) (1,785,807) — (2) (1,809,329) Total Derivative Assets $ (2,379) $ 48,073 $ — $ 45,694 Separate Account Assets 4,107,000 — — 4,107,000 Total Assets at Fair Value - Insurance $ 7,545,451 $ 73,179,952 $ 18,304,535 $ 99,029,938 Total Assets at Fair Value $ 10,903,084 $ 101,494,533 $ 71,778,388 $ 184,176,005 (1) Real assets and other investments excluded from the fair value hierarchy table include certain funds for which fair value is measured at net asset value per share as a practical expedient. As of December 31, 2024 and 2023, the fair value of these real assets were $34.5 million and $132.6 million, respectively, and other investments were $4.3 million and $5.9 million, respectively. These fund investments have strategies primarily focused on real assets (primarily real estate) or other investments and are subject to certain restrictions on redemption. As of December 31, 2024, there were $1.3 million and $1.5 million of unfunded commitments associated with these real assets and other investments, respectively. (2) Represents netting of derivative exposures covered by qualifying master netting agreements. Liabilities, at fair value: December 31, 2024 Level I Level II Level III Total Asset Management and Strategic Holdings Securities Sold Short $ 109,168 $ — $ — $ 109,168 Foreign Exchange Contracts and Options — 131,339 — 131,339 Unfunded Revolver Commitments — — 96,848 (1) 96,848 Other Derivatives — — — — Debt Obligations of Consolidated CFEs — 27,150,809 — 27,150,809 Total Liabilities at Fair Value - Asset Management and Strategic Holdings $ 109,168 $ 27,282,148 $ 96,848 $ 27,488,164 Insurance Policy Liabilities (Including Market Risk Benefits) $ — $ — $ 1,279,794 (3) $ 1,279,794 Closed Block Policy Liabilities — — 988,320 988,320 Funds Withheld Payable at Interest — — (2,797,544) (2,797,544) Derivative Instruments Payable: Equity Market Contracts 508 142,541 — 143,049 Interest Rate Contracts 89 1,072,481 — 1,072,570 Foreign Currency Contracts — 83,557 — 83,557 Other Contracts — 194 — 194 Counterparty Netting and Cash Collateral (159) (910,024) — (2) (910,183) Total Derivative Instruments Payable $ 438 $ 388,749 $ — $ 389,187 Embedded Derivative – Interest-sensitive Life Products — — 491,818 491,818 Embedded Derivative – Annuity Products — — 5,481,063 5,481,063 Total Liabilities at Fair Value - Insurance $ 438 $ 388,749 $ 5,443,451 $ 5,832,638 Total Liabilities at Fair Value $ 109,606 $ 27,670,897 $ 5,540,299 $ 33,320,802 December 31, 2023 Level I Level II Level III Total Asset Management and Strategic Holdings Securities Sold Short $ 149,136 $ — $ — $ 149,136 Foreign Exchange Contracts and Options — 441,608 — 441,608 Unfunded Revolver Commitments — — 94,683 (1) 94,683 Other Derivatives 143 2,239 — 2,382 Debt Obligations of Consolidated CFEs — 25,276,404 — 25,276,404 Total Liabilities at Fair Value - Asset Management and Strategic Holdings $ 149,279 $ 25,720,251 $ 94,683 $ 25,964,213 Insurance Policy Liabilities (Including Market Risk Benefits) $ — $ — $ 1,474,970 (3) $ 1,474,970 Closed Block Policy Liabilities — — 968,554 968,554 Funds Withheld Payable at Interest — — (2,447,303) (2,447,303) Derivative Instruments Payable: Equity Market Contracts 7,088 241,039 — 248,127 Interest Rate Contracts 17,931 660,525 — 678,456 Foreign Currency Contracts — 130,094 — 130,094 Other Contracts — 600 — 600 Counterparty Netting and Cash Collateral (23,522) (887,558) — (2) (911,080) Total Derivative Instruments Payable $ 1,497 $ 144,700 $ — $ 146,197 Embedded Derivative – Interest-sensitive Life Products — — 458,302 458,302 Embedded Derivative – Annuity Products — — 3,587,371 3,587,371 Total Liabilities at Fair Value - Insurance $ 1,497 $ 144,700 $ 4,041,894 $ 4,188,091 Total Liabilities at Fair Value $ 150,776 $ 25,864,951 $ 4,136,577 $ 30,152,304 (1) These unfunded revolver commitments are valued using the same valuation methodologies as KKR's Level III credit investments. (2) Represents netting of derivative exposures covered by qualifying master netting agreements. (3) Includes market risk benefit of $1.0 billion and $1.1 billion as of December 31, 2024 and 2023, respectively. The following tables summarize changes in assets and liabilities measured and reported at fair value for which Level III inputs have been used to determine fair value for the years ended December 31, 2024 and 2023, respectively. For the Year Ended December 31, 2024 Balance, Beg. of Period Transfers In / (Out) - Changes in Consolidation Transfers Transfers Out Net Purchases/Issuances/Sales/Settlements Net Unrealized and Realized Gains (Losses) Change in OCI Balance, End of Period Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date Assets Asset Management and Strategic Holdings Private Equity $ 30,921,574 $ (1,064,234) $ 9,042 $ (412,552) $ 1,533,345 $ 2,136,275 $ — $ 33,123,449 $ 2,105,048 $ — Credit 5,452,916 151,713 185,716 (115,891) (589,790) (279,256) — 4,805,408 (131,728) — Real Assets 11,295,633 934,530 — — 181,621 112,506 — 12,524,290 18,321 — Equity Method - Other 1,537,962 — — (62,977) (51,372) (18,313) — 1,405,300 (24,713) — Other Investments 4,265,768 — — (8,106) 655,179 (64,167) 177 4,848,851 (158,715) 177 Total Assets - Asset Management and Strategic Holdings $ 53,473,853 $ 22,009 $ 194,758 $ (599,526) $ 1,728,983 $ 1,887,045 $ 177 $ 56,707,298 $ 1,808,213 $ 177 Insurance AFS Fixed Maturity Securities: Corporate Fixed Maturity Securities $ 8,571,003 $ — $ — $ (301) $ 822,496 $ (144,561) $ 105,513 $ 9,354,150 $ — $ 39,834 Structured Securities 1,830,000 — 95,965 (53,297) 347,284 36,153 52,539 2,308,644 — 68,924 Total AFS Fixed Maturity Securities $ 10,401,003 $ — $ 95,965 $ (53,598) $ 1,169,780 $ (108,408) $ 158,052 $ 11,662,794 $ — $ 108,758 Trading Fixed Maturity Securities: Corporate Fixed Maturity Securities 656,923 — 1,416 — 608,282 55,683 — 1,322,304 17,563 — Structured Securities 593,238 — 123,566 (66,767) 67,404 41,762 — 759,203 21,901 — Total Trading Fixed Maturity Securities $ 1,250,161 $ — $ 124,982 $ (66,767) $ 675,686 $ 97,445 $ — $ 2,081,507 $ 39,464 $ — Mortgage and Other Loan Receivables 697,402 — — — 877,418 36,289 — 1,611,109 44,887 — Real Assets 4,815,265 — — — 3,412,986 (107,112) — 8,121,139 (117,906) — Other Investments 126,008 — — — 4,067 (26,252) — 103,823 (52,911) — Funds Withheld Receivable at Interest 88,661 — — — — 37,226 — 125,887 — — Reinsurance Recoverable 926,035 — — — (4,514) 19,210 — 940,731 — — Total Assets - Insurance $ 18,304,535 $ — $ 220,947 $ (120,365) $ 6,135,423 $ (51,602) $ 158,052 $ 24,646,990 $ (86,466) $ 108,758 Total $ 71,778,388 $ 22,009 $ 415,705 $ (719,891) $ 7,864,406 $ 1,835,443 $ 158,229 $ 81,354,288 $ 1,721,747 $ 108,935 For the Year Ended December 31, 2023 Balance, Beg. of Period Transfers In / (Out) - Changes in Consolidation (1) Transfers In Transfers Out Net Purchases/Issuances/Sales/Settlements Net Unrealized and Realized Gains (Losses) Change in OCI Balance, End of Period Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date Assets Asset Management and Strategic Holdings Private Equity $ 25,336,957 $ 286,848 $ 33,231 $ (29,417) $ 3,693,726 $ 1,600,229 $ — $ 30,921,574 $ 1,696,643 $ — Credit 5,786,026 — 253,572 (188,710) (470,131) 72,159 — 5,452,916 116,478 — Real Assets 17,015,112 (8,962,252) — (628) 3,643,071 (399,670) — 11,295,633 (434,545) — Equity Method - Other 1,624,420 — — (2,335) (343,597) 259,474 — 1,537,962 260,584 — Other Investments 3,334,366 — 22,777 (22,376) 1,025,854 (94,853) — 4,265,768 (70,060) — Other Derivatives — — — — 2,153 (2,153) — — — — Total Assets - Asset Management and Strategic Holdings $ 53,096,881 $ (8,675,404) $ 309,580 $ (243,466) $ 7,551,076 $ 1,435,186 $ — $ 53,473,853 $ 1,569,100 $ — Insurance AFS Fixed Maturity Securities: Corporate Fixed Maturity Securities $ 8,310,657 $ — $ 108,323 $ — $ 57,480 $ 50,066 $ 44,477 $ 8,571,003 $ — $ 55,176 Structured Securities 1,419,441 — 275,347 (15,666) 63,618 19,789 67,471 1,830,000 — 60,873 Total AFS Fixed Maturity Securities $ 9,730,098 $ — $ 383,670 $ (15,666) $ 121,098 $ 69,855 $ 111,948 $ 10,401,003 $ — $ 116,049 Trading Fixed Maturity Securities: Corporate Fixed Maturity Securities 672,023 — — (188) (508) (14,404) — 656,923 (10,951) — Structured Securities 643,811 — 11,971 (11,878) (46,528) (4,138) — 593,238 5,338 — Total Trading Fixed Maturity Securities $ 1,315,834 $ — $ 11,971 $ (12,066) $ (47,036) $ (18,542) $ — $ 1,250,161 $ (5,613) $ — Mortgage and Other Loan Receivables 787,515 — — — (89,548) (565) — 697,402 (1,637) — Real Assets 4,757,964 — — — 267,328 (210,027) — 4,815,265 (193,775) — Other Investments 141,763 — — — 7,319 (23,074) — 126,008 (23,645) — Funds Withheld Receivable at Interest 12,785 — — — — 75,876 — 88,661 — — Reinsurance Recoverable 981,775 — — — (7,200) (48,540) — 926,035 — — Total Assets - Insurance $ 17,727,734 $ — $ 395,641 $ (27,732) $ 251,961 $ (155,017) $ 111,948 $ 18,304,535 $ (224,670) $ 116,049 Total $ 70,824,615 $ (8,675,404) $ 705,221 $ (271,198) $ 7,803,037 $ 1,280,169 $ 111,948 $ 71,778,388 $ 1,344,430 $ 116,049 (1) For transfers (out) - changes in consolidation, in certain instances, KKR's economic interests became insignificant and certain investment vehicles are no longer consolidated as a result of additional amounts subscribed for by third party investors. For the Year Ended December 31, 2024 Purchases Issuances Sales Settlements Net Purchases/ Issuances/ Sales/ Settlements Assets Asset Management and Strategic Holdings Private Equity $ 2,818,924 $ — $ (1,285,579) $ — $ 1,533,345 Credit 1,501,339 — (1,695,729) (395,400) (589,790) Real Assets 1,954,238 — (1,772,617) — 181,621 Equity Method - Other 4,087 — (55,459) — (51,372) Other Investments 3,636,756 — (2,889,368) (92,209) 655,179 Total Assets - Asset Management and Strategic Holdings $ 9,915,344 $ — $ (7,698,752) $ (487,609) $ 1,728,983 Insurance AFS Fixed Maturity Securities: Corporate Fixed Maturity Securities $ 3,852,070 $ — $ (1,239,285) $ (1,790,289) $ 822,496 Structured Securities 995,608 — (11,931) (636,393) 347,284 Total AFS Fixed Maturity Securities $ 4,847,678 $ — $ (1,251,216) $ (2,426,682) $ 1,169,780 Trading Fixed Maturity Securities: Corporate Fixed Maturity Securities 1,132,431 — (224,710) (299,439) 608,282 Structured Securities 355,892 — (209,172) (79,316) 67,404 Total Trading Fixed Maturity Securities $ 1,488,323 $ — $ (433,882) $ (378,755) $ 675,686 Mortgage and Other Loan Receivables 1,065,772 — (2,487) (185,867) 877,418 Real Assets 3,431,726 — (18,740) — 3,412,986 Other Investments 4,465 — — (398) 4,067 Reinsurance Recoverable — — — (4,514) (4,514) Total Assets - Insurance $ 10,837,964 $ — $ (1,706,325) $ (2,996,216) $ 6,135,423 Total $ 20,753,308 $ — $ (9,405,077) $ (3,483,825) $ 7,864,406 For the Year Ended December 31, 2023 Purchases Issuances Sales Settlements Net Purchases/ Issuances/ Sales/ Settlements Assets Asset Management and Strategic Holdings Private Equity $ 4,909,109 $ — $ (1,215,383) $ — $ 3,693,726 Credit 1,598,277 — (1,945,798) (122,610) (470,131) Real Assets 5,052,128 — (1,408,018) (1,039) 3,643,071 Equity Method - Other 10,130 — (353,727) — (343,597) Other Investments 1,545,695 — (356,694) (163,147) 1,025,854 Other Derivatives 2,153 — — — 2,153 Total Assets - Asset Management and Strategic Holdings $ 13,117,492 $ — $ (5,279,620) $ (286,796) $ 7,551,076 Insurance AFS Fixed Maturity Securities: Corporate Fixed Maturity Securities $ 1,332,909 $ — $ (157,859) $ (1,117,570) $ 57,480 Structured Securities 366,410 — (1,020) (301,772) 63,618 Total AFS Fixed Maturity Securities $ 1,699,319 $ — $ (158,879) $ (1,419,342) $ 121,098 Trading Fixed Maturity Securities: Corporate Fixed Maturity Securities 74,783 — (8,014) (67,277) (508) Structured Securities 55,633 — (51,193) (50,968) (46,528) Total Trading Fixed Maturity Securities $ 130,416 $ — $ (59,207) $ (118,245) $ (47,036) Mortgage and Other Loan Receivables 1,796 — (3,078) (88,266) (89,548) Real Assets 293,571 — (26,243) — 267,328 Other Investments 7,537 — (218) — 7,319 Reinsurance Recoverable — — — (7,200) (7,200) Total Assets - Insurance $ 2,132,639 $ — $ (247,625) $ (1,633,053) $ 251,961 Total $ 15,250,131 $ — $ (5,527,245) $ (1,919,849) $ 7,803,037 For the Year Ended December 31, 2024 Balance, Beg. of Period Transfers In / (Out) - Changes in Consolidation Transfers In Transfers Out Net Purchases/Sales/Settlements/Issuances Net Unrealized and Realized Gains (Losses) Change in OCI Balance, End of Period Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date Liabilities Asset Management and Strategic Holdings Unfunded Revolver Commitments $ 94,683 $ — $ — $ — $ — $ 2,165 $ — $ 96,848 $ 2,165 Total Liabilities - Asset Management and Strategic Holdings $ 94,683 $ — $ — $ — $ — $ 2,165 $ — $ 96,848 $ 2,165 Insurance Policy Liabilities $ 1,474,970 $ — $ — $ — $ 44,891 $ (268,545) $ 28,478 $ 1,279,794 $ — Closed Block Policy Liabilities 968,554 — — — 5,652 16,870 (2,756) 988,320 — Funds Withheld Payable at Interest (2,447,303) — — — — (350,241) — (2,797,544) — Embedded Derivative – Interest-sensitive 458,302 — — — (100,797) 134,313 — 491,818 — Embedded Derivative – Annuity Products 3,587,371 — — — 1,109,304 784,388 — 5,481,063 — Total Liabilities - Insurance $ 4,041,894 $ — $ — $ — $ 1,059,050 $ 316,785 $ 25,722 $ 5,443,451 $ — Total $ 4,136,577 $ — $ — $ — $ 1,059,050 $ 318,950 $ 25,722 $ 5,540,299 $ 2,165 For the Year Ended December 31, 2023 Balance, Beg. of Period Transfers In / (Out) - Changes in Consolidation Transfers In Transfers Out Net Purchases/Sales/Settlements/Issuances Net Unrealized and Realized Gains (Losses) Change in OCI Balance, End of Period Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date Liabilities Asset Management and Strategic Holdings Unfunded Revolver Commitments $ 137,315 $ — $ — $ — $ — $ (42,632) $ — $ 94,683 $ (42,632) Total Liabilities - Asset Management and Strategic Holdings $ 137,315 $ — $ — $ — $ — $ (42,632) $ — $ 94,683 $ (42,632) Insurance Policy Liabilities $ 1,063,496 $ — $ — $ — $ (4,292) $ 177,932 $ 237,834 $ 1,474,970 $ — Closed Block Policy Liabilities 1,016,313 — — — (11,951) (42,705) 6,897 968,554 — Funds Withheld Payable at Interest (3,487,766) — — — — 1,040,463 — (2,447,303) — Embedded Derivative – Interest-sensitive 337,860 — — — (43,820) 164,262 — 458,302 — Embedded Derivative – Annuity Products 1,851,381 — — — 955,812 780,178 — 3,587,371 — Total Liabilities - Insurance $ 781,284 $ — $ — $ — $ 895,749 $ 2,120,130 $ 244,731 $ 4,041,894 $ — Total $ 918,599 $ — $ — $ — $ 895,749 $ 2,077,498 $ 244,731 $ 4,136,577 $ (42,632) Year Ended December 31, 2024 Issuances Settlements Net Issuances/Settlements Liabilities Asset Management and Strategic Holdings Unfunded Revolver Commitments $ — $ — $ — Total Liabilities - Asset Management and Strategic Holdings $ — $ — $ — Insurance Policy Liabilities $ 59,211 $ (14,320) $ 44,891 Closed Block Policy Liabilities 5,652 — 5,652 Embedded Derivative – Interest-sensitive Life Products — (100,797) (100,797) Embedded Derivative – Annuity Products 1,375,081 (265,777) 1,109,304 Total Liabilities - Insurance $ 1,439,944 $ (380,894) $ 1,059,050 Total $ 1,439,944 $ (380,894) $ 1,059,050 Year Ended December 31, 2023 Issuances Settlements Net Issuances/Settlements Liabilities Asset Management and Strategic Holdings Unfunded Revolver Commitments $ — $ — $ — Total Liabilities - Asset Management and Strategic Holdings $ — $ — $ — Insurance Policy Liabilities $ 1,803 $ (6,095) $ (4,292) Closed Block Policy Liabilities — (11,951) (11,951) Embedded Derivative – Interest-sensitive Life Products — (43,820) (43,820) Embedded Derivative – Annuity Products 1,081,979 (126,167) 955,812 Total Liabilities - Insurance $ 1,083,782 $ (188,033) $ 895,749 Total $ 1,083,782 $ (188,033) $ 895,749 Total realized and unrealized gains and losses recorded for Asset Management and Strategic Holdings - Level III assets and liabilities are reported in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations while Insurance - Level III assets and liabilities are reported in Net Investment Gains and Policy Benefits and Claims in the accompanying consolidated statements of operations. The following table presents additional information about valuation methodologies and significant unobservable inputs used for financial assets and liabilities that are measured and reported at fair value and categorized within Level III as of December 31, 2024. Because input information includes only those items for which information is reasonably available, balances shown below may not equal total amounts reported for such Level III assets and liabilities: Level III Assets Fair Value December 31, 2024 Valuation Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) ASSET MANAGEMENT AND STRATEGIC HOLDINGS Private Equity $ 33,123,449 Private Equity $ 30,498,966 Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 6.0% 5.0% - 20.0% Decrease Weight Ascribed to Market Comparables 28.5% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 69.3% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price 2.2% 0.0% - 100.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 18.9x 5.0x - 29.1x Increase Enterprise Value/Forward EBITDA Multiple 17.1x 4.7x - 32.1x Increase Discounted cash flow Weighted Average Cost of Capital 9.3% 5.6% - 14.4% Decrease Enterprise Value/EBITDA Exit Multiple 14.8x 6.0x - 27.6x Increase Level III Assets Fair Value December 31, 2024 Valuation Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Growth Equity $ 2,624,483 Inputs to market comparables, discounted cash flow and milestones Illiquidity Discount 10.1% 10.0% - 15.0% Decrease Weight Ascribed to Market Comparables 35.2% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 3.4% 0.0% - 50.0% (5) Weight Ascribed to Transaction Price 11.6% 0.0% - 100.0% (6) Weight Ascribed to Milestones 49.8% 0.0% - 100.0% (6) Scenario Weighting Base 75.0% 50.0% - 85.0% Increase Downside 11.8% 5.0% - 25.0% Decrease Upside 13.2% 10.0% - 25.0% Increase Market Comparables Enterprise Value/Revenues Multiple 7.0x 2.3x - 12.0x Increase Credit $ 4,805,408 Yield Analysis Yield 10.7% 0.0% - 23.8% Decrease Net Leverage 5.9x 1.6x -10.5x Decrease EBITDA Multiple 12.1x 1.4x - 30.0x Increase Real Assets $ 12,524,290 Energy $ 1,466,523 Inputs to market comparables, discounted cash flow and transaction price Weight Ascribed to Market Comparables 44.7% 0.0% - 50.0% (4) Weight Ascribed to Discounted Cash Flow 55.3% 50.0% - 100.0% (5) Market comparables Enterprise Value/LTM EBITDA Multiple 5.2x 5.2x - 5.2x Increase Enterprise Value/Forward EBITDA Multiple 8.6x 5.3x- 9.6x Increase Discounted cash flow Weighted Average Cost of Capital 13.0% 10.2% - 14.2% Decrease Average Price Per BOE (8) $42.44 $39.14 - $47.69 Increase Infrastructure $ 997,361 Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 6.7% 5.0% - 10.0% Decrease Weight Ascribed to Market Comparables 11.2% 0.0% - 25.0% (4) Weight Ascribed to Discounted Cash Flow 88.8% 75.0% - 100.0% (5) Weight Ascribed to Transaction Price 0.0% 0.0% - 0.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 11.8x 11.8x - 11.8x Increase Enterprise Value/Forward EBITDA Multiple 22.2x 11.6x - 25.6x Increase Discounted cash flow Weighted Average Cost of Capital 7.0% 5.8% - 8.7% Decrease Enterprise Value/EBITDA Exit Multiple 16.1x 10.0x - 22.0x Increase Real Estate $ 10,060,406 Inputs to direct income capitalization, discounted cash flow and transaction price Weight Ascribed to Direct Income Capitalization 8.6% 0.0% - 100.0% (7) Weight Ascribed to Discounted Cash Flow 87.4% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price 4.0% 0.0% - 100.0% (6) Direct income capitalization Current Capitalization Rate 5.4% 1.8% - 7.5% Decrease Discounted cash flow Exit Capitalization Rate 5.6% 3.1% - 9.0% Decrease Unlevered Discount Rate 7.3% 2.8% - 11.0% Decrease Equity Method - Other $ 1,405,300 Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 7.1% 5.0% - 10.0% Decrease Weight Ascribed to Market Comparables 52.8% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 46.5% 0.0% - 50.0% (5) Weight Ascribed to Transaction Price 0.7% 0.0% - 100.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 12.4x 5.2x - 22.4x Increase Enterprise Value/Forward EBITDA Multiple 11.7x 5.3x - 19.4x Increase Discounted cash flow Weighted Average Cost of Capital 10.8% 6.5% - 15.8% Decrease Enterprise Value/EBITDA Exit Multiple 11.0x 9.5x - 15.0x Increase Other Investments $ 4,848,851 (9) Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 8.5% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 23.3% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 38.9% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price 37.8% 0.0% - 100.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 12.0x 7.8x - 15.3x Increase Enterprise Value/Forward EBITDA Multiple 15.3x 7.3x - 19.1x Increase Discounted cash flow Weighted Average Cost of Capital 12.8% 7.3% - 19.5% Decrease Enterprise Value/EBITDA Exit Multiple 13.3x 8.5x - 15.0x Increase Level III Assets Fair Value December 31, 2024 Valuation Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) INSURANCE (10) Corporate Fixed Maturity Securities $ 10,676,454 Discounted cash flow Discount Spread 2.2% 0.2% - 5.0% Decrease Structured Securities $ 3,067,847 Discounted cash flow Discount Spread 2.3% 1.3% - 4.4% Decrease Constant Prepayment Rate 13.6% 10.0% - 15.0% Increase/Decrease Constant Default Rate 0.3% 0.0% - 3.0% Decrease Loss Severity 9.4% 0.0% - 95.0% Decrease Mortgage and Other Loan Receivables $ 1,611,109 Discounted cash flow Discount Spread 2.6% 0.7% - 4.7% Decrease Real Assets $ 8,121,139 Discounted cash flow Discount Rate 7.4% 6.5% - 8.3% Decrease Terminal Capitalization Rate 5.8% 5.0% - 7.3% Decrease Reinsurance Recoverable $ 940,731 Present value of expenses paid from the open block plus the cost of capital held in support of the liabilities. Expense Assumption $17.3 The average expense assumption is between $8.2 and $78.0 per policy, increased by inflation. The annual inflation rate was increased by 2.5%. Increase Unobservable inputs are a market participant’s view of the expenses, a risk margin on the uncertainty of the level of expenses and a cost of capital on the capital held in support of the liabilities. Expense Risk Margin 9.4% Decrease Cost of Capital 9.7% 3.7% - 13.9% Increase Discounted cash flow Mortality Rate 5.7% Increase Surrender Rate 2.0% Increase (1) In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies and company specific developments including exit strategies and realization opportunities. KKR has determined that market participants would take these inputs into account when valuing the investments and debt obligations. "LTM" means last twelve months, and "EBITDA" means earnings before interest, taxes, depreciation, and amortization. (2) Inputs were weighted based on the fair value of the investments included in the range. (3) Unless otherwise noted, this column represents the directional change in the fair value of the Level III investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. (4) The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level III investments if the market comparables approach results in a higher valuation than the discounted cash flow approach and transaction price. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach and transaction price. (5) The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level III investments if the discounted cash flow approach results in a higher valuation than the market comparables approach, transaction price and direct income capitalization approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach, transaction price and direct income capitalization approach. (6) The directional change from an increase in the weight ascribed to the transaction price or milestones would increase the fair value of the Level III investments if the transaction price or milestones results in a higher valuation than the market comparables and discounted cash flow approach. The opposite would be true if the transaction price or milestones results in a lower valuation than the market comparables approach and discounted cash flow approach. (7) The directional change from an increase in the weight ascribed to the direct income capitalization approach would increase the fair value of the Level III investments if the direct income capitalization approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the direct income capitalization approach results in a lower valuation than the discounted cash flow approach. (8) The total energy fair value amount includes multiple investments (in multiple locations throughout North America) that are held in different investment funds and produce varying quantities of oil, condensate, natural gas liquids, and natural gas. Commodity price may be measured using a common volumetric equivalent where one barrel of oil equivalent ("BOE") is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for the various investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 87% liquids and 13% natural gas. (9) Consists primarily of investments in common stock, preferred stock, warrants and options of companies that are not private equity, real assets, credit, equity method - other, or investments of consolidated CFEs. (10) The funds withheld receivable at interest has been excluded from the above table. As discussed in Note 12 – Reinsurance, the funds withheld receivable at interest is created through funds withheld contracts. The assets supporting these receivables were held in trusts for the benefit of Global Atlantic. Accordingly, the unobservable inputs utilized in the valuation of the embedded derivative are a component of the invested assets supporting the funds withheld reinsurance agreements. Level III Liabilities Fair Value December 31, 2024 Valuation Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) ASSET MANAGEMENT AND STRATEGIC HOLDINGS Unfunded Revolver Commitments $ 96,848 Yield Analysis Yield 9.7% 6.6% - 14.8% Decrease INSURANCE (4) Policy Liabilities $ 1,279,79

FAIR VALUE OPTION

FAIR VALUE OPTION	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OPTION	FAIR VALUE OPTION The following table summarizes the financial instruments for which the fair value option has been elected: December 31, 2024 December 31, 2023 Assets Asset Management and Strategic Holdings Credit $ 1,310,984 $ 976,978 Investments of Consolidated CFEs 27,488,538 24,996,298 Real Assets 55,087 59,721 Equity Method - Other 1,832,534 2,283,588 Other Investments 110,979 153,597 Total Asset Management and Strategic Holdings $ 30,798,122 $ 28,470,182 Insurance Fixed Maturity Securities $ 100,162 $ — Mortgage and Other Loan Receivables 1,611,109 697,402 Real Assets 471,498 169,407 Other Investments 47,944 63,470 Reinsurance Recoverable 940,731 926,035 Total Insurance $ 3,171,444 $ 1,856,314 Total Assets $ 33,969,566 $ 30,326,496 Liabilities Asset Management and Strategic Holdings Debt Obligations of Consolidated CFEs $ 27,150,809 $ 25,276,404 Total Asset Management and Strategic Holdings $ 27,150,809 $ 25,276,404 Insurance Policy Liabilities $ 1,265,878 $ 1,322,555 Total Insurance $ 1,265,878 $ 1,322,555 Total Liabilities $ 28,416,687 $ 26,598,959 The following table presents the net realized and unrealized gains (losses) on financial instruments for which the fair value option was elected: For the Year Ended December 31, 2024 Net Realized Net Unrealized Total Assets Asset Management and Strategic Holdings Credit $ (30,456) $ 5,968 $ (24,488) Investments of Consolidated CFEs (61,580) 84,799 23,219 Real Assets — (4,634) (4,634) Equity Method - Other 52,204 (176,599) (124,395) Other Investments 932 279 1,211 Total Asset Management and Strategic Holdings $ (38,900) $ (90,187) $ (129,087) Insurance Mortgage and Other Loan Receivables $ — $ 42,778 $ 42,778 Real Assets — (13,543) (13,543) Other Investments — (15,119) (15,119) Total Insurance $ — $ 14,116 $ 14,116 Total Assets $ (38,900) $ (76,071) $ (114,971) Liabilities Asset Management and Strategic Holdings Debt Obligations of Consolidated CFEs $ (10,387) $ (58,952) $ (69,339) Total Asset Management and Strategic Holdings $ (10,387) $ (58,952) $ (69,339) Insurance Policy Liabilities $ — $ 84,672 $ 84,672 Total Insurance $ — $ 84,672 $ 84,672 Total Liabilities $ (10,387) $ 25,720 $ 15,333 For the Year Ended December 31, 2023 Net Realized Net Unrealized Total Assets Asset Management and Strategic Holdings Credit $ (85,682) $ 66,109 $ (19,573) Investments of Consolidated CFEs (104,196) 1,019,063 914,867 Real Assets 51,637 (54,697) (3,060) Equity Method - Other 170,909 61,205 232,114 Other Investments 1,455 (813) 642 Total Asset Management and Strategic Holdings $ 34,123 $ 1,090,867 $ 1,124,990 Insurance Mortgage and Other Loan Receivables $ — $ (1,342) $ (1,342) Real Assets — (52,291) (52,291) Other Investments — (13,123) (13,123) Total Insurance $ — $ (66,756) $ (66,756) Total Assets $ 34,123 $ 1,024,111 $ 1,058,234 Liabilities Asset Management and Strategic Holdings Debt Obligations of Consolidated CFEs $ (1,212) $ (1,015,491) $ (1,016,703) Total Asset Management and Strategic Holdings $ (1,212) $ (1,015,491) $ (1,016,703) Insurance Policy Liabilities $ — $ 62,621 $ 62,621 Total Insurance $ — $ 62,621 $ 62,621 Total Liabilities $ (1,212) $ (952,870) $ (954,082) For the Year Ended December 31, 2022 Net Realized Net Unrealized Total Assets Asset Management and Strategic Holdings Credit $ (103,860) $ (9,326) $ (113,186) Investments of Consolidated CFEs (69,234) (1,437,482) (1,506,716) Real Assets 85 19,295 19,380 Equity Method - Other (14,891) (201,935) (216,826) Other Investments 6,657 (9,927) (3,270) Total Asset Management and Strategic Holdings $ (181,243) $ (1,639,375) $ (1,820,618) Insurance Mortgage and other loan receivables $ — $ (96,569) $ (96,569) Real assets — 122,082 122,082 Other Investments — 31,027 31,027 Total Insurance $ — $ 56,540 $ 56,540 Total Assets $ (181,243) $ (1,582,835) $ (1,764,078) Liabilities Asset Management and Strategic Holdings Debt Obligations of Consolidated CFEs $ (785) $ 1,175,161 $ 1,174,376 Total Asset Management and Strategic Holdings $ (785) $ 1,175,161 $ 1,174,376 Insurance Policy liabilities $ — $ 138,039 $ 138,039 Total Insurance $ — $ 138,039 $ 138,039 Total Liabilities $ (785) $ 1,313,200 $ 1,312,415

INSURANCE INTANGIBLES, UNEARNED

INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS	NET INVESTMENT INCOME - INSURANCE Net investment income for Global Atlantic is comprised primarily of (i) interest income, including amortization of premiums and accretion of discounts, (ii) dividend income from common and preferred stock, (iii) earnings from investments accounted for under equity method accounting, and (iv) lease income on real assets. The components of net investment income were as follows: Years Ended December 31, 2024 2023 2022 Fixed Maturity Securities $ 5,597,124 $ 4,450,917 $ 3,257,226 Mortgage and Other Loan Receivables 2,681,876 1,958,875 1,572,308 Real Assets 815,612 625,707 608,074 Short-Term and Other Investment Income 513,276 309,861 116,884 Income Assumed from Funds Withheld Receivable at Interest 81,335 94,658 91,608 Policy Loans 84,320 37,460 31,433 Income Ceded to Funds Withheld Payable at Interest (2,391,926) (1,363,704) (954,763) Total Investment Income 7,381,617 6,113,774 4,722,770 Less Investment Expenses: Investment Management and Administration 498,733 352,042 364,609 Real Asset Depreciation and Maintenance 204,934 198,385 215,672 Interest Expense on Derivative Collateral and Repurchase Agreements 103,342 48,445 24,243 Net Investment Income $ 6,574,608 $ 5,514,902 $ 4,118,246 Net investment-related gains (losses) from insurance operations primarily consist of (i) realized gains (losses) from the disposal of investments, (ii) unrealized gains (losses) from investments held for trading, equity securities, real estate investments accounted for under investment company accounting, and investments with fair value remeasurements recognized in earnings as a result of the election of a fair-value option, (iii) unrealized gains (losses) on funds withheld receivable and payable at interest, (iv) unrealized gains (losses) from derivatives (excluding certain derivatives designated as hedge accounting instruments), and (v) allowances for credit losses, and other impairments of investments. Net investment-related gains (losses) were as follows: Years Ended December 31, 2024 2023 2022 Realized Gains (Losses) on Available-for-Sale Fixed Maturity Securities $ (567,985) $ (64,140) $ (559,987) Credit Loss Allowances on Available-for-Sale Securities (115,367) (168,899) (57,411) Credit Loss Allowances on Mortgage and Other Loan Receivables (305,770) (210,704) (369,296) Credit Loss Allowances on Unfunded Commitments 30,639 6,321 (34,112) Impairment of Available-for-Sale Fixed Maturity Securities Due to Intent to Sell — (26,741) — Unrealized Gains (Losses) on Fixed Maturity Securities Classified as Trading (735,209) 1,031,227 (2,603,874) Unrealized Gains (Losses) on Other Investments Recognized under the Fair-Value Option and Equity Investments 9,560 (23,540) (60,388) Unrealized Gains (Losses) on Real Assets (167,873) (202,671) 77,755 Realized Gains (Losses) on Real Assets 11,418 71,158 (150,288) Net Gains (Losses) on Derivative Instruments 419,927 (680,717) 2,346,747 Realized Gains (Losses) on Funds Withheld at Interest Payable Portfolio 126,422 25,427 38,074 Realized Gains (Losses) on Funds Withheld at Interest Receivable Portfolio (62,493) (9,193) (3,176) Other Realized Gains (Losses) (66,355) 17,210 57,466 Net Investment-Related Gains (Losses) $ (1,423,086) $ (235,262) $ (1,318,490) Allowance for Credit Losses Available-for-sale Fixed Maturity Securities The table below presents a roll-forward of the allowance for credit losses recognized for fixed maturity securities held by Global Atlantic: Year Ended December 31, 2024 Year Ended December 31, 2023 Corporate Structured Total Corporate Structured Total Balance, as of Beginning of Period $ 49,008 $ 219,704 $ 268,712 $ 1,298 $ 127,034 $ 128,332 Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance 106,038 2,805 108,843 68,166 75,623 143,789 Accretion of Initial Credit Loss Allowance on PCD Securities — 611 611 — 1,191 1,191 Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance (1,089) (19,377) (20,466) (2,843) (13,220) (16,063) Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance 22,184 (15,660) 6,524 (3,966) 29,076 25,110 Balances Charged Off (76,525) (12,377) (88,902) (13,647) — (13,647) Balance, as of End of Period $ 99,616 $ 175,706 $ 275,322 $ 49,008 $ 219,704 $ 268,712 Year Ended December 31, 2022 Corporate Structured Total Balance, as of Beginning of Period $ 3,238 $ 84,895 $ 88,133 Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance 791 68,943 69,734 Initial Credit Loss Allowance Recognized on Purchased Credit Deteriorated ("PCD") Securities — 707 707 Accretion of Initial Credit Loss Allowance on PCD Securities — 1,847 1,847 Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance — (11,925) (11,925) Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance 5,110 (17,433) (12,323) Balances Charged Off (7,841) — (7,841) Balance, as of End of Period $ 1,298 $ 127,034 $ 128,332 Mortgage and Other Loan Receivables Changes in the allowance for credit losses on mortgage and other loan receivables held by Global Atlantic are summarized below: Year Ended December 31, 2024 Year Ended December 31, 2023 Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Balance, as of Beginning of Period $ 319,631 $ 107,204 $ 175,608 $ 602,443 $ 227,315 $ 125,825 $ 207,088 $ 560,228 Net Provision (Release) 164,254 5,157 136,359 305,770 113,932 (10,445) 107,217 210,704 Charge-offs (163,478) (5,116) (153,984) (322,578) (21,616) (8,176) (160,465) (190,257) Recoveries of Amounts Previously Charged-off 5,650 — 23,123 28,773 — — 21,768 21,768 Balance, as of End of Period $ 326,057 $ 107,245 $ 181,106 $ 614,408 $ 319,631 $ 107,204 $ 175,608 $ 602,443 Year Ended December 31, 2022 Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Balance, as of Beginning of Period $ 65,970 $ 72,082 $ 236,025 $ 374,077 Net Provision (Release) 161,345 74,798 133,153 369,296 Charge-offs (1) — (21,055) (162,090) (183,145) Balance, as of End of Period $ 227,315 $ 125,825 $ 207,088 $ 560,228 (1) Consumer and other loan receivables included $12.8 million of recoveries for the year ended December 31, 2022. Proceeds and Gross Gains and Losses from Voluntary Sales The proceeds from voluntary sales and the gross gains and losses on those sales of available-for-sale ("AFS") fixed maturity securities were as follows: Years Ended December 31, 2024 2023 2022 AFS Fixed Maturity Securities: Proceeds from Voluntary Sales $ 19,370,239 $ 6,687,271 $ 12,050,106 Gross Gains $ 112,264 $ 62,452 $ 21,567 Gross Losses $ (643,899) $ (120,799) $ (569,706) The following reflects the reconciliation of the components of insurance intangibles to the total balance reported in the consolidated statements of financial condition as of December 31, 2024 and 2023: December 31, December 31, 2024 2023 Deferred Acquisition Costs, or "DAC" $ 1,731,076 $ 1,154,697 Value of Business Acquired 1,165,193 1,252,984 Cost-of-Reinsurance Intangibles 2,302,674 2,043,143 Total Insurance Intangibles $ 5,198,943 $ 4,450,824 Deferred Acquisition Costs The following tables reflect the deferred acquisition costs roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 373,863 $ 481,970 $ 132,079 $ 166,785 $ 1,154,697 Capitalizations 197,662 404,165 7,640 202,251 811,718 Amortization Expense (108,132) (98,550) (8,576) (20,081) (235,339) Balance, as of the End of the Period $ 463,393 $ 787,585 $ 131,143 $ 348,955 $ 1,731,076 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 221,679 $ 367,813 $ 116,021 $ 115,457 $ 820,970 Capitalizations 218,243 175,869 23,592 66,458 484,162 Amortization Expense (66,059) (61,712) (7,534) (15,130) (150,435) Balance, as of the End of the Period $ 373,863 $ 481,970 $ 132,079 $ 166,785 $ 1,154,697 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 107,104 $ 179,449 $ 54,298 $ 56,730 $ 397,581 Capitalizations 144,635 220,866 67,892 69,515 502,908 Amortization Expense (30,060) (32,502) (6,169) (10,788) (79,519) Balance, as of the End of the Period $ 221,679 $ 367,813 $ 116,021 $ 115,457 $ 820,970 Value of Business Acquired The following tables reflect the value of business acquired, or “VOBA” asset roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 44,922 $ 621,372 $ 262,942 $ 245,042 $ 78,706 $ 1,252,984 Amortization Expense (3,687) (43,210) (13,530) (20,695) (6,669) (87,791) Balance, as of the End of the Period $ 41,235 $ 578,162 $ 249,412 $ 224,347 $ 72,037 $ 1,165,193 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 48,762 $ 663,296 $ 276,795 $ 241,778 $ 85,898 $ 1,316,529 Amortization Expense (3,840) (41,924) (13,853) 3,264 (7,192) (63,545) Balance, as of the End of the Period $ 44,922 $ 621,372 $ 262,942 $ 245,042 $ 78,706 $ 1,252,984 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 52,723 $ 709,271 $ 292,323 $ 269,172 $ 94,479 $ 1,417,968 Amortization Expense (3,961) (45,975) (15,528) (27,394) (8,581) (101,439) Balance, as of the End of the Period $ 48,762 $ 663,296 $ 276,795 $ 241,778 $ 85,898 $ 1,316,529 The following tables reflect the negative value of business acquired, or “negative VOBA” liability roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 65,966 $ 106,538 $ 421,213 $ 91,295 $ 182,920 $ 867,932 Amortization Expense (21,534) (31,283) (29,397) (6,113) (13,297) (101,624) Balance, as of the End of the Period $ 44,432 $ 75,255 $ 391,816 $ 85,182 $ 169,623 $ 766,308 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 98,342 $ 145,610 $ 461,592 $ 99,776 $ 198,804 $ 1,004,124 Amortization Expense (32,376) (39,072) (40,379) (8,481) (15,884) (136,192) Balance, as of the End of the Period $ 65,966 $ 106,538 $ 421,213 $ 91,295 $ 182,920 $ 867,932 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 136,227 $ 184,664 $ 500,264 $ 109,826 $ 211,296 $ 1,142,277 Amortization Expense (37,885) (39,054) (38,672) (10,050) (12,492) (138,153) Balance, as of the End of the Period $ 98,342 $ 145,610 $ 461,592 $ 99,776 $ 198,804 $ 1,004,124 Estimated future amortization of VOBA and Negative VOBA as of December 31, 2024, is as follows: Years VOBA Negative VOBA Total, net 2025 $ 84,071 $ (86,456) $ (2,385) 2026 78,852 (70,146) 8,706 2027 73,940 (59,329) 14,611 2028 69,456 (51,274) 18,182 2029 65,376 (45,433) 19,943 Thereafter 793,498 (453,670) 339,828 Total $ 1,165,193 $ (766,308) $ 398,885 Unearned Revenue Reserves and Unearned Front-end Loads Years Ended December 31, 2024 2023 2022 Preneed Balance, as of the Beginning of the Period $ 178,053 $ 118,186 $ 55,510 Deferral 69,303 71,798 69,548 Amortized to Income during the Period (16,566) (11,931) (6,872) Balance, as of the End of the Period $ 230,790 $ 178,053 $ 118,186 Significant Inputs, Judgments, and Assumptions for DAC and Related Amortization Amounts Global Atlantic considers surrender rates, mortality rates, and other relevant policy decrements in determining the expected life of the contract. As a part of Global Atlantic's actual experience update for the year ended December 31, 2024, Global Atlantic concluded that there was no material change in relevant inputs, judgments, or assumptions requiring an update of the amortization rate for DAC and related amortization amounts. For the year ended December 31, 2023, Global Atlantic updated mortality and surrender assumptions. These updates reduced the amortization rate for DAC and related amortization amounts by $4.4 million per year.

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
REINSURANCE	REINSURANCE Global Atlantic maintains a number of reinsurance treaties with third parties whereby Global Atlantic assumes annuity and life policies on a coinsurance, modified coinsurance or funds withheld basis. Global Atlantic also maintains other reinsurance treaties including the cession of certain annuity, life and health policies. The effects of all reinsurance agreements on the consolidated statements of financial condition were as follows: December 31, 2024 December 31, 2023 Policy Liabilities: Direct $ 84,062,566 $ 75,715,857 Assumed 101,142,800 84,342,414 Total Policy Liabilities 185,205,366 160,058,271 Ceded (1) (45,006,124) (35,773,958) Net Policy Liabilities $ 140,199,242 $ 124,284,313 (1) Reported within reinsurance recoverable within the consolidated statements of financial condition. A key credit quality indicator is a counterparty’s A.M. Best financial strength rating. A.M. Best ratings are an independent opinion of a reinsurer’s ability to meet ongoing obligations to policyholders. Global Atlantic mitigates counterparty credit risk by requiring collateral and credit enhancements in various forms including engaging in funds withheld at interest and modified coinsurance transactions. The following shows the amortized cost basis of Global Atlantic’s reinsurance recoverable and funds withheld receivable at interest by credit quality indicator and any associated credit enhancements Global Atlantic has obtained to mitigate counterparty credit risk: As of December 31, 2024 As of December 31, 2023 A.M. Best Rating (1) Reinsurance Recoverable and Funds Withheld Receivable at Interest Credit Enhancements (2) Net Reinsurance Credit Exposure (3) Reinsurance Recoverable and Funds Withheld Receivable at Interest Credit Enhancements (2) Net Reinsurance Credit Exposure (3) A++ $ 26,854 $ — $ 26,854 $ 38,857 $ — $ 38,857 A+ 1,731,697 — 1,731,697 1,801,954 — 1,801,954 A 2,143,893 — 2,143,893 2,212,800 — 2,212,800 A- 3,926,161 3,477,840 448,321 4,430,484 3,814,976 615,508 B++ 600 — 600 589 — 589 B+ — — — — — — B — — — — — — B- — — — — — — C++/C+ (231) — — (228) — — Not Rated or Private Rating (4) 39,979,509 40,484,070 — 30,859,068 30,210,350 648,718 Total $ 47,808,483 $ 43,961,910 $ 4,351,365 $ 39,343,524 $ 34,025,326 $ 5,318,426 (1) Ratings are periodically updated (at least annually) as A.M. Best issues new ratings. (2) Credit enhancements primarily include funds withheld payable at interest. (3) Includes credit loss allowance of $16.4 million and $21.0 million as of December 31, 2024 and 2023, respectively, held against reinsurance recoverable and funds withheld receivable at interest. (4) Includes $40.0 billion and $30.8 billion as of December 31, 2024 and 2023, respectively, associated with cessions to co-investment vehicles (the "Ivy and other co-investment vehicles") that participate in qualifying reinsurance transactions sourced by Global Atlantic. As of December 31, 2024 and 2023, Global Atlantic had $2.5 billion and $2.7 billion of funds withheld receivable at interest, respectively, with six counterparties related to modified coinsurance and funds withheld contracts. The assets supporting the funds withheld receivable at interest balance are held in trusts for the benefit of Global Atlantic. The effects of reinsurance on the consolidated statements of operations were as follows: Years Ended December 31, 2024 2023 2022 Net Premiums: Direct $ 642,803 $ 118,535 $ 111,602 Assumed 11,915,597 4,138,758 2,413,234 Ceded (4,659,566) (2,281,618) (1,342,375) Net Premiums $ 7,898,834 $ 1,975,675 $ 1,182,461 Years Ended December 31, 2024 2023 2022 Policy Fees: Direct $ 917,684 $ 912,931 $ 950,702 Assumed 1,111,998 442,085 328,528 Ceded (651,996) (94,767) (17,509) Net Policy Fees $ 1,377,686 $ 1,260,249 $ 1,261,721 Years Ended December 31, 2024 2023 2022 Net Policy Benefits and Claims: Direct $ 4,047,792 $ 3,406,055 $ 812,961 Assumed 15,949,420 5,922,927 3,255,354 Ceded (6,703,930) (2,966,725) (1,710,077) Net Policy Benefits and Claims $ 13,293,282 $ 6,362,257 $ 2,358,238 Global Atlantic holds collateral for and provides collateral to its reinsurance clients. Global Atlantic held $46.6 billion and $36.7 billion of collateral in the form of funds withheld payable at interest on behalf of its reinsurers as of December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, reinsurers held collateral of $1.1 billion and $1.2 billion on behalf of Global Atlantic, respectively. A significant portion of the collateral that Global Atlantic provides to its reinsurance clients is provided in the form of assets held in a trust for the benefit of the counterparty. As of December 31, 2024 and 2023, these trusts held in excess of the $100.2 billion and $81.8 billion of assets they are required to hold in order to support reserves of $96.9 billion and $79.4 billion, respectively. Of the cash held in trust, Global Atlantic classified $185.8 million and $90.8 million as restricted as of December 31, 2024 and 2023, respectively.

NET INCOME (LOSS) ATTRIBUTABLE

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. INC. PER SHARE OF COMMON STOCK	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. INC. PER SHARE OF COMMON STOCK	NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. INC. PER SHARE OF COMMON STOCK For the years ended December 31, 2024, 2023, and 2022, basic and diluted Net Income (Loss) attributable to KKR & Co. Inc. per share of common stock were calculated as follows: Years Ended December 31, 2024 2023 2022 Net Income (Loss) Available to KKR & Co. Inc. $ 3,076,245 $ 3,680,514 $ (590,664) (+) Series C Mandatory Convertible Preferred Dividend (if dilutive) (1) — 51,747 — Net Income (Loss) Available to KKR & Co. Inc. $ 3,076,245 $ 3,732,261 $ (590,664) Basic Net Income (Loss) Per Share of Common Stock Weighted Average Shares of Common Stock Outstanding - Basic 887,021,433 867,496,813 749,504,970 Net Income (Loss) Attributable to KKR & Co. Inc. $ 3.47 $ 4.24 $ (0.79) Diluted Net Income (Loss) Per Share of Common Stock Weighted Average Shares of Common Stock Outstanding - Basic 887,021,433 867,496,813 749,504,970 Incremental Common Shares: Assumed vesting of dilutive equity awards (2) 51,883,167 25,294,958 — Assumed conversion of Series C Mandatory Convertible Preferred Stock (1) — 18,995,662 — Weighted Average Shares of Common Stock Outstanding - Diluted 938,904,600 911,787,433 749,504,970 Net Income (Loss) Attributable to KKR & Co. Inc. $ 3.28 $ 4.09 $ (0.79) (1) For the year ended December 31, 2023, the impact of Series C Mandatory Convertible Preferred Stock calculated under the if-converted method was dilutive, and as such (i) shares of common stock (assuming a conversion ratio based on the average volume weighted average price per share of common stock over each reporting period) were included in the Weighted Average Shares of Common Stock Outstanding - Diluted and (ii) Series C Mandatory Convertible Preferred dividends were added back to Net Income (Loss) Available to KKR & Co. Inc. Common Stockholders - Diluted. (2) For the years ended December 31, 2024 and 2023 Weighted Average Shares of Common Stock Outstanding – Diluted includes unvested equity awards, including certain equity awards that have met their market price-based vesting condition but have not satisfied their service-based vesting condition. Vesting of these equity awards dilute equity holders of KKR Group Partnership, including KKR & Co. Inc. and holders of exchangeable securities pro rata in accordance with their respective ownership interests in KKR Group Partnership. For the year ended December 31, 2022, all unvested equity awards are excluded from the calculation of Diluted Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock because inclusion of such unvested equity awards would be anti-dilutive having the effect of decreasing the loss per share of common stock. Exchangeable Securities For the years ended December 31, 2024, 2023, and 2022, KKR Holdings Units and vested restricted holdings units (as defined in Note 19 "Equity Based Compensation") have been excluded from the calculation of Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock - Diluted since the exchange of these units would not dilute KKR & Co. Inc.’s ownership interests in KKR Group Partnership. Since May 31, 2022, there are no outstanding KKR Holdings Units. See Note 1 "Organization" in our financial statements. Years Ended December 31, 2024 2023 2022 Weighted Average KKR Holdings Units — — 107,018,025 Weighted Average Vested Restricted Holdings Units 6,828,095 3,675,345 2,250,186 Total 6,828,095 3,675,345 109,268,211 Market Condition Awards For the years ended December 31, 2024, 2023, and 2022, 19.4 million, 25.7 million, and 17.5 million respectively, of unvested equity awards that are subject to market price based and service-based vesting conditions were excluded from the calculation of Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock - Diluted since the market price based vesting condition was not satisfied. See Note 19 "Equity Based Compensation" in our financial statements.

OTHER ASSETS AND ACCRUED EXPENS

OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2024
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES	OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES Other Assets consist of the following: December 31, 2024 December 31, 2023 Asset Management and Strategic Holdings Unsettled Investment Sales (1) $ 293,379 $ 271,544 Receivables 259,644 55,602 Due from Broker (2) 97,524 76,075 Deferred Tax Assets, net 50,627 48,580 Interest Receivable 264,680 351,999 Fixed Assets, net (3) 902,896 863,096 Foreign Exchange Contracts and Options (4) 511,513 264,621 Goodwill (5) 509,561 558,279 Intangible Assets (6) 1,457,871 1,624,648 Derivative Assets 8,444 4,792 Prepaid Taxes 167,751 211,966 Prepaid Expenses 57,629 56,828 Operating Lease Right of Use Assets (7) 701,274 358,684 Deferred Financing Costs 19,594 19,213 Other 231,899 209,296 Total Asset Management and Strategic Holdings $ 5,534,286 $ 4,975,223 Insurance Deferred Tax Assets, net $ 2,788,672 $ 2,273,757 Accrued Investment Income 1,475,704 1,220,781 Goodwill 509,972 501,496 Intangible Assets and Deferred Sales Inducements (8) 343,657 258,529 Premiums and Other Account Receivables 254,992 188,136 Other 276,104 152,486 Operating Lease Right of Use Assets (7) 165,204 172,955 Unsettled Investment Sales (1) and Derivative Collateral Receivables 141,532 27,562 Derivative Assets 61,351 45,694 Prepaid Taxes 273,197 42,294 Market Risk Benefit Asset 2,319 17 Total Insurance $ 6,292,704 $ 4,883,707 Total Other Assets $ 11,826,990 $ 9,858,930 (1) Primarily includes amounts due from third parties for investments sold for which cash settlement has not occurred. (2) Represents amounts held at clearing brokers resulting from securities transactions. (3) Net of accumulated depreciation and amortization of $326.0 million and $257.4 million as of December 31, 2024 and December 31, 2023, respectively. Depreciation and amortization expense of $71.6 million, $68.4 million, and $54.6 million for the years ended December 31, 2024, 2023, and 2022, respectively, are included in General, Administrative and Other in the accompanying consolidated statements of operations. Additionally, KKR’s fixed assets are predominantly located in the United States. (4) Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign currency denominated investments. Such instruments are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. See Note 4 "Net Gains (Losses) from Investment Activities - Asset Management and Strategic Holdings" in our financial statements for the net changes in fair value associated with these instruments. (5) As of December 31, 2024, the carrying value of goodwill is recorded and assessed for impairment at the reporting unit. As of December 31, 2024, there are approximately $(82.9) million of cumulative foreign currency translation adjustments included in AOCI related to the goodwill recorded as result of the acquisition of KJRM. (6) As of December 31, 2024, there are approximately $(282.7) million of cumulative foreign currency translation adjustments included in AOCI related to the intangible assets recorded as result of the acquisition of KJRM. (7) For Asset Management, non-cancelable operating leases consist of leases for office space in North America, Europe, Asia, and Australia. KKR is the lessee under the terms of the operating leases. The operating lease cost was $89.7 million, $67.8 million, and $54.2 million for the years ended December 31, 2024, 2023, and 2022, respectively. For Insurance, non-cancelable operating leases consist of leases for office space and land in the U.S. For the years ended December 31, 2024, 2023, and 2022, the operating lease cost was $20.9 million, $21.9 million, and $25.0 million, respectively. (8) The definite life intangible assets are amortized using the straight-line method over the useful life of the assets which is an average of 11.7 years. The indefinite life intangible assets are not subject to amortization. The amortization expense of definite life intangible assets was $19.1 million, $17.6 million, and $17.6 million for the years ended December 31, 2024, 2023, and 2022, respectively. Accrued Expenses and Other Liabilities consist of the following: December 31, 2024 December 31, 2023 Asset Management and Strategic Holdings Amounts Payable to Carry Pool (1) $ 4,170,773 $ 2,664,694 Unsettled Investment Purchases (2) 2,081,970 574,986 Securities Sold Short (3) 109,168 149,136 Derivative Liabilities — 2,382 Accrued Compensation and Benefits 130,717 210,625 Interest Payable 467,324 492,501 Foreign Exchange Contracts and Options (4) 131,339 441,608 Accounts Payable and Accrued Expenses 425,731 221,851 Taxes Payable 91,398 39,255 Uncertain Tax Positions 42,054 23,579 Unfunded Revolver Commitments 96,848 94,683 Operating Lease Liabilities (5) 722,241 360,852 Deferred Tax Liabilities, net 2,840,342 2,370,118 Other Liabilities 138,598 72,145 Total Asset Management and Strategic Holdings $ 11,448,503 $ 7,718,415 Insurance Accrued Expenses $ 562,226 $ 607,262 Unsettled Investment Purchases (2) and Derivative Collateral Liabilities 347,121 205,669 Insurance Operations Balances in Course of Settlement 190,775 250,367 Securities Sold Under Agreements to Repurchase 261,396 1,358,434 Derivative Liabilities 389,187 146,197 Operating Lease Liabilities (5) 185,547 193,566 Accrued Employee Related Expenses 107,049 370,984 Interest Payable 40,315 15,894 Tax Payable to Former Parent Company 49,477 62,545 Accounts and Commissions Payable 31,414 32,104 Other Tax Related Liabilities 22,455 12,984 Total Insurance $ 2,186,962 $ 3,256,006 Total Accrued Expenses and Other Liabilities $ 13,635,465 $ 10,974,421 (1) Represents the amount of carried interest payable to current and former KKR employees arising from KKR's investment funds and co-investment vehicles that provide for carried interest. (2) Primarily includes amounts owed to third parties for investment purchases for which cash settlement has not occurred. (3) Represents the obligations of KKR to deliver a specified security at a future point in time. Such securities are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. See Note 4 "Net Gains (Losses) from Investment Activities - Asset Management and Strategic Holdings" in our financial statements for the net changes in fair value associated with these instruments. (4) Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign currency denominated investments. Such instruments are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. See Note 4 "Net Gains (Losses) from Investment Activities - Asset Management and Strategic Holdings" in our financial statements for the net changes in fair value associated with these instruments. (5) For Asset Management, operating leases for office space have remaining lease terms that range from approximately 1 year to 16 years, some of which include options to extend the leases from 2 years to 10 years. The weighted average remaining lease terms were 13.1 years and 10.3 years as of December 31, 2024 and December 31, 2023, respectively. The weighted average discount rates were 3.7% and 2.9% as of December 31, 2024 and December 31, 2023, respectively. For Insurance, operating leases for office space have remaining lease terms that range from approximately 1 year to 10 years, some of which include options to extend the leases for up to 10 years. The weighted average remaining lease terms were 7.4 years and 7.6 years

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES Consolidated VIEs KKR consolidates certain VIEs in which it is determined that KKR is the primary beneficiary. The consolidated VIEs are predominately CLOs and certain investment funds sponsored by KKR. The primary purpose of these VIEs is to provide strategy specific investment opportunities to earn investment gains, current income or both in exchange for management fees and performance income. KKR's investment strategies differ for these VIEs; however, the fundamental risks have similar characteristics, including loss of invested capital and loss of management fees and performance income. KKR does not provide performance guarantees and has no other financial obligation to provide funding to these consolidated VIEs, beyond amounts previously committed, if any. Furthermore, KKR consolidates certain VIEs that are formed by Global Atlantic to either (i) hold investments, including fixed maturity securities, consumer and other loans, renewable energy, transportation and real estate, or (ii) to conduct certain reinsurance activities with third party commitments. Unconsolidated VIEs KKR holds variable interests in certain VIEs which are not consolidated as it has been determined that KKR is not the primary beneficiary. VIEs that are not consolidated predominantly include certain investment funds sponsored by KKR as well as certain investment partnerships where Global Atlantic retains an economic interest. KKR's investment strategies differ by investment fund; however, the fundamental risks have similar characteristics, including loss of invested capital and loss of management fees and performance income. KKR's maximum exposure to loss as a result of its investments in the unconsolidated investment funds is the carrying value of such investments, including KKR's capital interest and any unrealized carried interest. Accordingly, disaggregation of KKR's involvement by type of unconsolidated investment fund would not provide more useful information. For these unconsolidated investment funds in which KKR is the sponsor, KKR may have an obligation as general partner to provide commitments to such investment funds. As of December 31, 2024, KKR's commitments to these unconsolidated investment funds were $3.6 billion. KKR generally has not provided any financial support other than its obligated amount as of December 31, 2024. Additionally, Global Atlantic also has unfunded commitments of $25.8 million as of December 31, 2024. As of December 31, 2024 and December 31, 2023, the maximum exposure to loss, before allocations to the carry pool and noncontrolling interests, if any, for those VIEs in which KKR is determined not to be the primary beneficiary but in which it has a variable interest is as follows: Asset Management and Strategic Holdings December 31, 2024 December 31, 2023 Investments $ 9,798,370 $ 7,877,904 Due from (to) Affiliates, net 1,437,525 1,097,939 Maximum Exposure to Loss $ 11,235,895 $ 8,975,843 Insurance Real Assets $ 124,910 $ 189,029 Other Investments 664,951 35,721 Maximum Exposure to Loss $ 789,861 $ 224,750 Total Maximum Exposure to Loss $ 12,025,756 $ 9,200,593

DEBT OBLIGATIONS

DEBT OBLIGATIONS	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	DEBT OBLIGATIONS KKR enters into credit agreements and issues debt for its general operating and investment purposes. KKR's Asset Management and Strategic Holdings debt obligations consisted of the following: December 31, 2024 December 31, 2023 By remaining maturity at Financing Available Principal Carrying Value Fair Financing Available Principal Carrying Value Fair Revolving Credit Facilities: (1) Under 1 Year $ 750,000 $ — $ — $ — $ 750,000 $ — $ — $ — 1-5 Years 3,468,753 — — — 2,236,492 — — — After 5 Years — — — — — — — — Subtotal 4,218,753 — — — 2,986,492 — — — KKR USD Senior Notes: (2)(3)(6)(8) Under 1 Year — — — — — — — — 1-5 Years — 750,000 746,000 709,328 — — — — After 5 Years — 4,250,000 4,167,548 3,436,331 — 5,000,000 4,890,919 4,181,595 Subtotal — 5,000,000 4,913,548 4,145,659 — 5,000,000 4,890,919 4,181,595 KKR Yen Senior Notes: (2)(3)(6) Under 1 Year — 31,788 31,762 31,766 — — — — 1-5 Years — 830,314 826,986 823,390 — 610,552 608,047 606,447 After 5 Years — 591,902 584,999 570,285 — 363,069 357,986 337,097 Subtotal — 1,454,004 1,443,747 1,425,441 — 973,621 966,033 943,544 KKR Euro Senior Notes: (2)(3)(6) Under 1 Year — — — — — — — — 1-5 Years — 673,366 669,325 634,836 — 717,400 712,331 646,248 After 5 Years — — — — — — — — Subtotal — 673,366 669,325 634,836 — 717,400 712,331 646,248 KKR Subordinated Notes: (2)(3)(7) Under 1 Year — — — — — — — — 1-5 Years — — — — — — — — After 5 Years — 500,000 487,110 366,200 — 500,000 486,755 377,400 Subtotal — 500,000 487,110 366,200 — 500,000 486,755 377,400 KFN USD Senior Notes: (2)(3)(4)(9) Under 1 Year — — — — — — — — 1-5 Years — — — — — — — — After 5 Years — 690,000 684,730 608,237 — 690,000 684,032 624,018 Subtotal — 690,000 684,730 608,237 — 690,000 684,032 624,018 KFN Junior Subordinated Notes: (2)(4)(5)(9) Under 1 Year — — — — — — — — 1-5 Years — — — — — — — — After 5 Years — 258,517 240,136 211,909 — 258,517 238,801 208,902 Subtotal — 258,517 240,136 211,909 — 258,517 238,801 208,902 Total KKR & KFN Notes 4,218,753 8,575,887 8,438,596 7,392,282 2,986,492 8,139,538 7,978,871 6,981,707 Other Debt Obligations: (1)(2)(8) 5,628,669 37,697,802 37,495,324 37,409,158 6,618,692 37,274,503 36,907,999 36,699,920 Total $ 9,847,422 $ 46,273,689 $ 45,933,920 $ 44,801,440 $ 9,605,184 $ 45,414,041 $ 44,886,870 $ 43,681,627 (1) Financing available is reduced by the dollar amounts specified in any issued letters of credit. (2) Carrying value includes: (i) unamortized note discount (net of premium), as applicable and (ii) unamortized debt issuance costs, as applicable. Financing costs related to the issuance of the notes have been deducted from the note liability and are being amortized over the life of the notes. (3) Interest rates of the notes are fixed and the weighted average interest rates are the following: December 31, 2024 December 31, 2023 KKR USD Senior Notes 4.23% 4.23% KKR Yen Senior Notes 1.67% 1.46% KKR Euro Senior Notes 1.63% 1.63% KKR Subordinated Notes 4.63% 4.63% KFN USD Senior Notes 5.44% 5.44% (4) These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments. (5) Interest rates of the notes are floating and the weighted average interest rate is 7.3% and 8.1% and the weighted average years to maturity is 11.8 years and 12.8 years as of December 31, 2024 and December 31, 2023, respectively. (6) The notes are classified as Level II within the fair value hierarchy and fair value is determined by third party broker quotes. (7) The notes are classified as Level I within the fair value hierarchy and fair value is determined by quoted prices in active markets since the debt is publicly listed. (8) As of December 31, 2024 and December 31, 2023, the principal value, carrying value and fair value reflects the elimination for the portion of applicable debt obligations that are held by Global Atlantic. (9) KKR consolidates and reports debt obligations of KKR Financial Holdings LLC, a KKR subsidiary ("KFN"), which are non-recourse to KKR beyond the assets of KFN. From time to time, KKR may provide credit support for the funding obligations of its subsidiaries. Third Amended and Restated Credit Agreement On July 3, 2024, KKR Group Partnership L.P. and Kohlberg Kravis Roberts & Co. L.P. (collectively, the “Borrowers”), entered into a Third Amended and Restated Credit Agreement (the “Corporate Credit Agreement”) by and among the Borrowers, the guarantors from time to time party thereto (together with the Borrowers, the “Loan Parties”), the lending institutions from time to time party thereto and HSBC Bank USA, National Association, as administrative agent (the “Administrative Agent”), which amends and restates in its entirety the Second Amended and Restated Credit Agreement, dated as of August 4, 2021 (as amended by the First Amendment and Lender Joiner Agreement, dated as of September 2, 2022), by and among the Loan Parties, the lending institutions from time to time party thereto and the Administrative Agent. The Corporate Credit Agreement provides the Borrowers with a senior unsecured multicurrency revolving credit facility (the “Corporate Credit Facility”) in an aggregate principal amount of $2.75 billion, as of July 3, 2024, with the option to request an increase in the facility amount of up to an additional $750 million, for an aggregate principal amount of $3.50 billion, subject to certain conditions. The Corporate Credit Facility is a five-year facility, scheduled to mature on July 3, 2029, with the Borrowers’ option to extend the maturity date, subject to the consent of the applicable lenders, and the Borrowers may prepay, terminate or reduce the commitments under the Corporate Credit Facility at any time without penalty. Borrowings under the Corporate Credit Facility are available for general corporate purposes and available in U.S. dollars and other currencies. Interest on borrowings in U.S. dollars under the Corporate Credit Facility will be based on either term Secured Overnight Financing Rate (SOFR) or alternate base rate, with the applicable margin per annum based on a corporate ratings-based grid. The Borrowers have agreed to pay a facility fee on the total commitments at a rate per annum also based on a corporate ratings-based grid. Borrowings under the Corporate Credit Facility are guaranteed by KKR & Co. Inc. and any entity (other than the Borrowers) that guarantees certain specified senior notes of KKR & Co. Inc.’s financing subsidiaries. Certain other terms of the Corporate Credit Agreement include: (i) financial covenants that require KKR to maintain a maximum leverage ratio (excluding the indebtedness of KKR Financial Holdings LLC and Global Atlantic of not greater than 4.0x covenant EBITDA and to maintain at least $150 billion in fee paying assets under management; (ii) customary affirmative covenants and certain negative covenants, including a limitation on the ability of the Borrowers and the guarantors to, among other things, pledge the stock of their subsidiaries; and (iii) customary events of default, upon the occurrence of which the lenders will have the ability to accelerate all outstanding loans thereunder and terminate the commitments. KKR Group Finance Co. XI LLC May 2024 Notes Offering On May 30, 2024, KKR Group Finance Co. XI LLC, an indirect subsidiary of KKR & Co. Inc., completed the offering of (i) ¥44,600,000,000 aggregate principal amount of its 1.559% Senior Notes due 2029 (the “2029 Notes”), (ii) ¥1,000,000,000 aggregate principal amount of its 1.762% Senior Notes due 2031 (the “2031 Notes”), (iii) ¥26,200,000,000 aggregate principal amount of its 2.083% Senior Notes due 2034 (the “2034 Notes”), (iv) ¥10,000,000,000 aggregate principal amount of its 2.719% Senior Notes due 2044 (the “2044 Notes”), and (v) ¥9,600,000,000 aggregate principal amount of its 3.008% Senior Notes due 2054 (the “2054 Notes” and, together with the 2029 Notes, the 2031 Notes, the 2034 Notes and the 2044 Notes, the “Yen Notes”). The Yen Notes are guaranteed by KKR & Co. Inc. and KKR Group Partnership L.P. Interest on the Yen Notes accrues from May 30, 2024 and is payable semi-annually in arrears on May 30 and November 30 of each year, commencing on November 30, 2024 and ending on the applicable maturity date unless earlier redeemed. The Yen Notes are unsecured and unsubordinated obligations of KKR Group Finance Co. XI LLC. The Yen Notes are fully and unconditionally guaranteed, jointly and severally, by each of the guarantors. The guarantees are unsecured and unsubordinated obligations of the guarantors. The Yen Notes were issued pursuant to an indenture dated as of April 26, 2022, among KKR Group Finance Co. XI LLC, KKR Group Co. Inc. (formerly known as KKR & Co. Inc.), KKR Group Partnership and The Bank of New York Mellon Trust Company, N.A., as trustee (as supplemented, the “Indenture”). The Indenture includes covenants, including limitations on KKR Group Finance Co. XI LLC’s and the guarantors’ ability to, subject to exceptions, incur indebtedness secured by liens on voting stock or profit participating equity interests of their subsidiaries or merge, consolidate or sell, transfer or convey all or substantially all of their assets. The Indenture also provides for events of default and further provides that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding Yen Notes may declare the Yen Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership, or reorganization, the principal amount of the Yen Notes and any accrued and unpaid interest on the Yen Notes automatically become due and payable. If a change of control repurchase event occurs, the Yen Notes are subject to repurchase by KKR Group Finance Co. XI LLC at a repurchase price in cash equal to 101% of the aggregate principal amount of the Yen Notes repurchased plus any accrued and unpaid interest on the Yen Notes repurchased to, but not including, the date of repurchase. KCM 364-Day Revolving Credit Facility On April 4, 2024, KKR Capital Markets Holdings L.P. and certain other capital markets subsidiaries (the "KCM Borrowers") replaced their existing 364-day revolving credit agreement with a new 364-day revolving credit agreement (the "KCM 364-Day Revolving Credit Facility”) with Mizuho Bank, Ltd., as administrative agent, and one or more lenders party thereto. The KCM 364-Day Revolving Credit Facility replaces the prior 364-day revolving credit facility, dated as of April 7, 2023, between the KCM Borrowers and the administrative agent, and one or more lenders party to the prior facility, which was terminated according to its terms on April 4, 2024. The KCM 364-Day Revolving Credit Facility provides for revolving borrowings up to $750 million, expires on April 3, 2025, and ranks pari passu with the existing $750 million revolving credit facility provided by them for KKR's capital markets business (the "KCM Credit Facility"). If a borrowing is made under the KCM 364-Day Revolving Credit Agreement, the interest rate will vary depending on the type of drawdown requested. If the borrowing is: (i) denominated in U.S. dollars and a term rate, it will be based on the term Secured Overnight Financing Rate ("SOFR"), (ii) denominated in euros, it will be based on EURIBOR and (iii) denominated in pounds sterling, it will be based on the Sterling Overnight Interbank Average Rate ("SONIA"), in each case, plus the applicable margin which ranges initially between 1.50% and 2.75%, depending on the duration of the loan. If the borrowing is an ABR Loan, it will be based on the greater of (i) the federal funds rate plus 0.50% and (ii) term SOFR for one-month tenor plus 1.00%, in each case, plus the applicable margin which ranges initially between 0.50% and 1.75% depending on the amount and nature of the loan. Borrowings under the KCM 364-Day Revolving Credit Agreement may only be used to facilitate the settlement of debt transactions syndicated by KKR's capital markets business. Obligations under the KCM 364-Day Revolving Credit Agreement are limited to the KCM Borrowers, which are solely entities involved in KKR's capital markets business, and liabilities under the KCM 364-Day Revolving Credit Agreement are non-recourse to other parts of KKR. The KCM 364-Day Revolving Credit Facility contains customary representations and warranties, events of default, and affirmative and negative covenants, including a financial covenant providing for a maximum debt to equity ratio for the KCM Borrowers. The KCM Borrowers' obligations under the KCM 364-Day Revolving Credit Facility are secured by certain assets of the KCM Borrowers, including a pledge of equity interests of certain subsidiaries of the KCM Borrowers. KCM Credit Facility On April 4, 2024, the KCM Borrowers (as defined above) also entered into a fourth amended and restated 5-year revolving credit agreement (the “KCM Credit Facility”) with Mizuho Bank, Ltd., as administrative agent, and the lenders party thereto. This facility provides for revolving borrowings of up to $750 million with a $750 million sublimit for letters of credit, expires on April 4, 2029 and ranks pari passu with the KCM 364-Day Revolving Credit Facility. The prior facility for the KCM Borrowers, dated as of March 20, 2020 (as amended), between the KCM Borrowers, Mizuho Bank, Ltd., as administrative agent, and the lenders party thereto, was terminated according to its terms on April 4, 2024 and replaced by the KCM Credit Facility. If a borrowing is made on the KCM Credit Facility, the interest rate will vary depending on the type of drawdown requested. If the borrowing is (i) denominated in U.S. dollars and a term rate, it will be based on term SOFR, (ii) denominated in euros, it will be based on EURIBOR, and (iii) denominated in pounds sterling, it will be based on SONIA, in each case, plus the applicable margin which ranges initially between 1.75% and 3.00%, depending on the amount and nature of the loan. If the loan is an ABR Loan, it will be based on the greater of (i) the federal funds rate plus 0.50% and (ii) term SOFR for one-month tenor plus 1.00%, in each case, plus the applicable margin which ranges initially between 0.75% and 2.00% depending on the amount and nature of the loan. Obligations under the KCM Credit Facility may only be used for KKR’s capital markets business, and its only obligors are entities involved in KKR’s capital markets business, and its liabilities are non-recourse to other parts of KKR’s business. The KCM Credit Facility contains customary representations and warranties, events of default, and affirmative and negative covenants, including a financial covenant providing for a maximum debt to equity ratio for the KCM Borrowers. The KCM Borrowers’ obligations under the KCM Credit Facility are secured by certain assets of the KCM Borrowers, including a pledge of equity interests of certain subsidiaries of the KCM Borrowers. Other Asset Management and Strategic Holdings Debt Obligations Certain of KKR's consolidated investment funds have entered into financing arrangements with financial institutions, generally to provide liquidity to such investment funds. These financing arrangements are generally not direct obligations of the general partners of KKR's investment funds (beyond KKR's capital interest) or its management companies. Such borrowings have varying maturities and bear interest at floating rates. Borrowings are generally secured by the investment purchased with the proceeds of the borrowing and/or the uncalled capital commitment of each respective fund. When an investment vehicle borrows, the proceeds are available only for use by that investment vehicle and are not available for the benefit of other investment vehicles or KKR. Collateral within each investment vehicle is also available only against borrowings by that investment vehicle and not against the borrowings of other investment vehicles or KKR. In certain other cases, investments and other assets held directly by majority-owned consolidated levered investment vehicles and other entities have been funded with borrowings that are collateralized by the investments and assets they own. These borrowings are non-recourse to KKR beyond the investments or assets serving as collateral or the capital that KKR has committed to fund such investment vehicles. Such borrowings have varying maturities and generally bear interest at fixed rates. In addition, consolidated CFEs issue debt securities to third-party investors which are collateralized by assets held by the CFE. Debt securities issued by CFEs are supported solely by the assets held at the CFEs and are not collateralized by assets of any other KKR entity. CFEs also may have warehouse facilities with banks to provide liquidity to the CFE. The CFE's debt obligations are non-recourse to KKR beyond the assets of the CFE. As of December 31, 2024, other debt obligations consisted of the following: Financing Available Principal Carrying Value Fair Value Weighted Weighted Average Remaining Maturity in Years Financing Facilities of Consolidated Funds and Other (1) $ 5,628,669 $ 10,368,391 $ 10,344,515 $ 10,258,349 5.7% 4.4 Debt Obligations of Consolidated CFEs — 27,329,411 27,150,809 27,150,809 (2) 10.4 $ 5,628,669 $ 37,697,802 $ 37,495,324 $ 37,409,158 (1) Includes borrowings collateralized by fund investments, fund co-investments, and other assets held by levered investment vehicles of $2.8 billion. (2) The senior notes of the consolidated CFEs had a weighted average interest rate of 6.1%. The subordinated notes of the consolidated CLOs do not have contractual interest rates but instead receive a pro rata amount of the net distributions from the excess cash flows of the respective CLO vehicle. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the period, if any. Debt obligations of consolidated CLOs are collateralized by assets held by each respective CLO vehicle and assets of one CLO vehicle may not be used to satisfy the liabilities of another. As of December 31, 2024, the fair value of the consolidated CLO assets was $30.8 billion. This collateral consisted of Cash and Cash Equivalents, Investments, and Other Assets. Global Atlantic's debt obligations consisted of the following: December 31, 2024 December 31, 2023 By Remaining Maturity at Financing Available Principal Carrying Value (1) Fair Value (2) Financing Available Principal Carrying Value (1) Fair Value (2) Revolving Credit Facilities: Under 1 Year $ — $ — $ — $ — $ — $ — $ — $ — 1-5 Years 1,000,000 — — — 800,000 200,000 200,000 200,000 After 5 Years — — — — — — — — Subtotal 1,000,000 — — — 800,000 200,000 200,000 200,000 Senior Notes: (4) Under 1 Year — — — — — — — — 1-5 Years — 500,000 459,138 474,250 — — — — After 5 Years — 2,050,000 1,854,183 2,040,505 — 1,800,000 1,648,467 1,715,155 Subtotal — 2,550,000 2,313,321 2,514,755 — 1,800,000 1,648,467 1,715,155 Subordinated Notes: (4) Under 1 Year — — — — — — — — 1-5 Years — — — — — — — — After 5 Years — 1,350,000 1,329,615 1,353,975 — 750,000 739,390 643,575 Subtotal — 1,350,000 1,329,615 1,353,975 — 750,000 739,390 643,575 Debt Obligations of Consolidated Special Purpose Vehicles (3) 269,600 70,400 70,400 70,394 — — — — Total $ 1,269,600 $ 3,970,400 $ 3,713,336 $ 3,939,124 $ 800,000 $ 2,750,000 $ 2,587,857 $ 2,558,730 (1) Carrying value of debt as of December 31, 2024 and 2023, includes purchase accounting adjustments of $34.1 million and $40.2 million, respectively, net debt issuance costs of $(57.9) million and $(36.5) million, respectively, and cumulative fair value loss on hedged debt obligations of $(233.2) million and $(165.8) million, respectively. The amortization of the purchase accounting adjustments was $6.1 million, $3.1 million, and $7.8 million for the years ended December 31, 2024, 2023, and 2022, respectively. (2) These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments. (3) These debt obligations primarily include debt obligations of consolidated sponsored reinsurance vehicles that are not guaranteed by KKR or Global Atlantic. (4) Interest rates of the notes are fixed and the weighted average interest rates are the following: December 31, 2024 December 31, 2023 Senior Notes 5.67% 5.22% Subordinated Notes 6.14% 4.70% Senior Notes Due 2054 Global Atlantic (Fin) Company ("GA FinCo") and Global Atlantic Limited (Delaware) (formerly known as Global Atlantic Financial Limited, "GALD") are both wholly-owned indirect subsidiaries of TGAFG, the holding company for the Global Atlantic business. In March 2024, GA FinCo issued $750 million aggregate principal amount of 6.750% senior unsecured notes due 2054 (the “GA 2054 Senior Notes”). The GA 2054 Senior Notes were issued pursuant to an indenture, dated October 7, 2019, among GA FinCo, as issuer, GALD, as guarantor, and U.S. Bank National Association, as trustee, and supplemented by the fifth supplemental indenture thereto, dated March 15, 2024, among GA FinCo, GALD and the trustee. The GA 2054 Senior Notes are fully and unconditionally guaranteed on a senior unsecured basis by GALD. The GA 2054 Senior Notes bear interest at a rate of 6.750% per year. Interest on the GA 2054 Senior Notes is payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2024. The GA 2054 Senior Notes will mature on March 15, 2054. GA FinCo may, at its option, redeem some or all of the GA 2054 Senior Notes at any time: (i) prior to September 15, 2053 at a redemption price equal to the greater of 100% of the principal amount of the GA 2054 Senior Notes to be redeemed and a make-whole payment plus, in either case, accrued and unpaid interest, if any, to the date of redemption; and (ii) on or after September 15, 2053 at a redemption price equal to 100% of the principal amount of the GA 2054 Senior Notes to be redeemed, plus accrued and unpaid interest to the date of redemption. Global Atlantic Subordinated Notes Due 2054 On June 11 2024, GA FinCo issued $600 million of 7.950% fixed-to-fixed rate subordinated debentures maturing on October 15, 2054 (the “GA 2054 Subordinated Debentures.”) The GA 2054 Subordinated Debentures were issued pursuant to the Subordinated Indenture, dated as of July 6, 2021 among GA FinCo, as issuer, GALD, as guarantor, and U.S. Bank National Association, as trustee, as supplemented by the Second Supplemental Indenture thereto, dated as of June 11, 2024. The GA 2054 Subordinated Debentures will bear interest (i) from, and including, June 11, 2024 to, but not including, the initial interest reset date of October 15, 2029 at an annual rate of 7.95% and (ii) from and including October 15, 2029, during each interest reset period, at an annual rate equal to the five-year Treasury rate as of the most recent reset interest determination date, plus 3.608%. Interest on the GA 2054 Subordinated Debentures is payable semi-annually in arrears on April 15 and October 15 of each year, commencing on October 15, 2024, and on the maturity date. GA FinCo has the right on one or more occasions to defer the payment of interest on the GA 2054 Subordinated Debentures for up to five If GA FinCo has exercised its right to defer interest payments on the GA 2054 Subordinated Debentures, GA FinCo and GALD generally may not (1) make payments on or redeem or purchase (A) GA FinCo or GALD common stock, or (B) with respect to GA FinCo, any indebtedness ranking on parity with or junior to the GA 2054 Subordinated Debentures, and with respect to GALD, any indebtedness ranking on parity with or junior to the guarantee or (2) make any guarantee payments with respect to any guarantee by GA FinCo or GALD of any securities or any of their respective subsidiaries if such guarantee ranks equally with or junior to the GA 2054 Subordinated Debentures. GA FinCo may elect to redeem the GA 2054 Subordinated Debentures either (1) in whole at any time or in part from time to time during the three-month period prior to, and including, October 15, 2029, or the three month period prior to, and including, each subsequent interest reset date, in each case at 100% of the principal amount of the GA 2054 Subordinated Debentures being redeemed, plus accrued and unpaid interest (including compounded interest, if any) to, but excluding, the redemption date; (2) in whole, but not in part, at any time within 90 days after the occurrence of a tax event at 100% of the principal amount of the GA 2054 Subordinated Debentures being redeemed, plus accrued and unpaid interest (including compounded interest, if any) to, but excluding, the redemption date; (3) in whole, but not in part, at any time within 90 days after the occurrence of a rating agency event at 102% of the principal amount of the GA 2054 Subordinated Debentures being redeemed, plus accrued and unpaid interest (including compounded interest, if any) to, but excluding, the redemption date; or (4) in whole, but not in part, at any time within 90 days after the occurrence of a regulatory capital event at 100% of the principal amount of the GA 2054 Subordinated Debentures being redeemed, plus accrued and unpaid interest (including compounded interest, if any) to, but excluding, the redemption date. Global Atlantic Credit Agreement In March 2024, GA FinCo repaid $300 million then outstanding indebtedness under the Global Atlantic Credit Agreement with proceeds from the GA 2054 Senior Notes. In May 2024, GA FinCo terminated its revolving credit facility and replaced it with a new credit agreement with GA FinCo, as borrower, GALD, as guarantor, and Wells Fargo Bank, N.A., as administrative agent, that (1) provides for up to $1.0 billion of revolving borrowings, including up to $500 million of letters of credit, (2) has a maturity of May 2029, and (3) contains customary events of default, representations and warranties and covenants that are substantially similar to those that were in the terminated revolving credit agreement, including the consolidated debt to capitalization and net worth covenants. Interest on any funded borrowings accrues at SOFR plus a spread ranging from 1.225% to 1.975%, based on GALD’s long-term issuer credit ratings. The borrower must pay a commitment fee on any unfunded committed balance under the agreement, ranging from 0.125% to 0.300% based on the long-term issuer credit rating. Debt Covenants Borrowings of KKR (including Global Atlantic) contain various debt covenants. These covenants do not, in management's opinion, materially restrict KKR's operating business or investment strategies as of December 31, 2024. KKR (including Global Atlantic) was in compliance with such debt covenants in all material respects as of December 31, 2024. Scheduled principal payments for Asset Management and Strategic Holdings debt obligations at December 31, 2024 are as follows: Revolving Credit Facilities Notes Issued Other Debt Obligations Total 2025 — 31,788 3,685,902 3,717,690 2026 — — 496,776 496,776 2027 — 231,420 404,349 635,769 2028 — 284,188 614,527 898,715 2029 — 1,738,072 574,652 2,312,724 Thereafter — 6,290,419 31,921,596 38,212,015 $ — $ 8,575,887 $ 37,697,802 $ 46,273,689 Scheduled principal payments for Insurance debt obligations at December 31, 2024 are as follows: Revolving Credit Facilities Notes Issued Other Debt Obligations Total 2025 $ — $ — $ — $ — 2026 — — — — 2027 — — 70,400 70,400 2028 — — — — 2029 — 500,000 — 500,000 Thereafter — 3,400,000 — 3,400,000 $ — $ 3,900,000 $ 70,400 $ 3,970,400

POLICY LIABILITIES

POLICY LIABILITIES	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
POLICY LIABILITIES	POLICY LIABILITIES The following reflects the reconciliation of the components of policy liabilities to the total balance reported in the consolidated statements of financial condition as of December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Policyholders’ Account Balances $ 137,881,796 $ 125,187,354 Liability for Future Policy Benefits 26,795,091 17,823,750 Additional Liability for Annuitization, Death, or Other Insurance Benefits 7,491,915 7,129,785 Market Risk Benefit Liability 1,002,236 1,120,968 Other Policy-related Liabilities (1) 12,034,328 8,796,414 Total Policy Liabilities $ 185,205,366 $ 160,058,271 (1) Other policy-related liabilities as of December 31, 2024 and 2023 primarily consist of embedded derivatives associated with contractholder deposit funds ($6.0 billion and $4.0 billion, respectively), cost-of-reinsurance liabilities ($3.1 billion and $1.8 billion, respectively), policy liabilities accounted under a fair value option (both $1.2 billion), negative VOBA ($766.3 million and $867.9 million, respectively) and outstanding claims ($303.8 million and $235.1 million, respectively). Policyholders’ Account Balances The following reflects the policyholders’ account balances roll-forward for the years ended December 31, 2024 and 2023, and the policyholders’ account balances weighted average interest rates, net amount at risk, and cash surrender value as of those dates: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Funding Agreements Other (1) Total Balance as of Beginning of Period $ 56,762,736 $ 30,168,445 $ 21,969,053 $ 7,015,998 $ 9,271,122 $ 125,187,354 Issuances and Premiums Received 16,453,922 8,097,987 1,991,442 2,372,925 1,611,601 30,527,877 Benefit Payments, Surrenders, and Withdrawals (10,038,636) (5,211,414) (1,453,435) (2,553,181) (1,579,574) (20,836,240) Interest (2) 2,305,618 773,638 723,201 277,270 343,238 4,422,965 Other Activity (3) (397,023) (110,321) (1,054,364) 45,091 96,457 (1,420,160) Balance as of End of Period $ 65,086,617 $ 33,718,335 $ 22,175,897 $ 7,158,103 $ 9,742,844 $ 137,881,796 Less: Reinsurance Recoverable (11,664,932) (3,074,278) (7,504,951) — (3,532,472) (25,776,633) Balance as of End of Period, Net of Reinsurance Recoverable $ 53,421,685 $ 30,644,057 $ 14,670,946 $ 7,158,103 $ 6,210,372 $ 112,105,163 Average Interest Rate 4.05 % 2.74 % 3.29 % 4.21 % 3.31 % 3.56 % Net Amount at Risk, Gross of Reinsurance (4) $ — $ — $ 111,882,678 $ — $ 1,140,998 $ 113,023,676 Cash Surrender Value (5) $ 50,421,300 $ 33,928,559 $ 13,974,862 $ — $ 4,458,881 $ 102,783,602 (1) “Other” consists of activity related to payout annuities without life contingencies, preneed, variable annuities, and life products. (2) Interest includes interest credited to policyholders’ account values, and interest accreted in other components of the policyholder account balance, including investment-type contract values, host amounts for contractholder deposits with embedded derivatives, funding agreements, and other associated reserves. (3) “Other activity” includes policy charges, fees and commissions, transfers, assumption changes, fair value changes, and the impact of hedge fair value adjustments. (4) Net amount at risk represents the difference between the face value of the insurance policy and the reserve accumulated under that same policy. (5) Cash surrender values are reported net of any applicable surrender charges, net of reinsurance. Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Funding Agreements Other (1) Total Balance as of Beginning of Period $ 48,510,703 $ 29,123,926 $ 17,397,185 $ 7,535,489 $ 9,713,933 $ 112,281,236 Issuances and Premiums Received 16,604,445 4,891,428 5,824,786 510,000 675,340 28,505,999 Benefit Payments, Surrenders, and Withdrawals (9,493,423) (4,234,383) (917,240) (1,415,763) (1,585,439) (17,646,248) Interest (2) 1,483,545 533,127 497,919 226,394 303,026 3,044,011 Other Activity (3) (342,534) (145,653) (833,597) 159,878 164,262 (997,644) Balance as of End of Period $ 56,762,736 $ 30,168,445 $ 21,969,053 $ 7,015,998 $ 9,271,122 $ 125,187,354 Less: Reinsurance Recoverable (10,279,657) (3,191,151) (7,190,573) — (3,021,333) (23,682,714) Balance as of End of Period, Net of Reinsurance Recoverable $ 46,483,079 $ 26,977,294 $ 14,778,480 $ 7,015,998 $ 6,249,789 $ 101,504,640 Average Interest Rate 3.36 % 2.15 % 3.28 % 3.12 % 2.74 % 2.94 % Net Amount at Risk, Gross of Reinsurance (4) $ — $ — $ 135,840,650 $ — $ 1,168,689 $ 137,009,339 Cash Surrender Value (5) $ 43,590,426 $ 28,429,388 $ 15,161,982 $ — $ 4,659,916 $ 91,841,712 (1) “Other” consists of activity related to payout annuities without life contingencies, preneed, variable annuities, and life products. (2) Interest includes interest credited to policyholders’ account values, and interest accreted in other components of the policyholder account balance, including investment-type contract values, host amounts for contractholder deposits with embedded derivatives, funding agreements, and other associated reserves. (3) “Other activity” includes policy charges, fees and commissions, transfers, assumption changes, fair value changes, and the impact of hedge fair value adjustments. (4) Net amount at risk represents the difference between the face value of the insurance policy and the reserve accumulated under that same policy. (5) Cash surrender values are reported net of any applicable surrender charges, net of reinsurance. The following table presents the account values by range of guaranteed minimum crediting rates and the related range of differences, in basis points, between rates being credited to policyholders and the respective guaranteed minimums. Account values, as disclosed below, differ from policyholder account balances as they exclude balances associated with index credits, contractholder deposit fund host balances, funding agreements, and other associated reserves. In addition, policyholder account balances include discounts and premiums on assumed business which are not reflected in account values. As of December 31, 2024 Account Values with Adjustable Crediting Rates Subject to Guaranteed Minimums: Range of guaranteed minimum crediting rates: At Guaranteed Minimum 1 - 49 bps Above Guaranteed Minimum 50 - 99 bps Above Guaranteed Minimum 100 - 150 bps Above Guaranteed Minimum Greater Than 150 bps Above Guaranteed Minimum Total Less Than 1.00% $ 3,479,329 $ 36,286 $ 357,440 $ 740,947 $ 32,674,542 $ 37,288,544 1.00% - 1.99% 1,304,845 738,935 805,357 1,867,453 10,903,160 15,619,750 2.00% - 2.99% 769,182 36,663 56,798 697,085 3,671,581 5,231,309 3.00% - 4.00% 10,302,787 1,619,059 474,803 1,253,515 1,478,389 15,128,553 Greater Than 4.00% 11,785,696 1,353,687 76,806 7,020 — 13,223,209 Total $ 27,641,839 $ 3,784,630 $ 1,771,204 $ 4,566,020 $ 48,727,672 $ 86,491,365 Percentage of Total 32 % 4 % 2 % 5 % 57 % 100 % As of December 31, 2023 Account Values with Adjustable Crediting Rates Subject to Guaranteed Minimums: Range of guaranteed minimum crediting rates: At Guaranteed Minimum 1 - 49 bps Above Guaranteed Minimum 50 - 99 bps Above Guaranteed Minimum 100 - 150 bps Above Guaranteed Minimum Greater Than 150 bps Above Guaranteed Minimum Total Less Than 1.00% $ 2,706,701 $ 25,839 $ 660,189 $ 3,546,450 $ 25,940,436 $ 32,879,615 1.00% - 1.99% 1,471,320 1,013,423 999,852 1,968,519 6,603,795 12,056,909 2.00% - 2.99% 896,276 44,850 55,874 109,411 1,310,234 2,416,645 3.00% - 4.00% 12,494,439 1,186,572 414,111 953,560 1,067,325 16,116,007 Greater Than 4.00% 12,095,647 1,385,538 138,112 117,561 298,493 14,035,351 Total $ 29,664,383 $ 3,656,222 $ 2,268,138 $ 6,695,501 $ 35,220,283 $ 77,504,527 Percentage of Total 38 % 5 % 3 % 9 % 45 % 100 % Liability for Future Policy Benefits The following tables summarize the balances of, and changes in, the liability for future policy benefits for traditional and limited-payment contracts for the years ended December 31, 2024 and 2023: Years Ended December 31, 2024 December 31, 2023 Payout Annuities (1) Other (2) Total Payout Annuities (1) Other (2) Total Present Value of Expected Net Premiums Balance as of Beginning of Period $ — $ (208,370) $ (208,370) $ — $ (255,401) $ (255,401) Balance at Original Discount Rate $ — $ (241,058) $ (241,058) $ — $ (308,674) $ (308,674) Effect of Changes in Cash Flow Assumptions — — — — 43,842 43,842 Effect of Actual Variances from Expected Experience — (99,920) (99,920) — (4,839) (4,839) Adjusted Beginning of Period Balance — (340,978) (340,978) — (269,671) (269,671) Years Ended December 31, 2024 December 31, 2023 Payout Annuities (1) Other (2) Total Payout Annuities (1) Other (2) Total Issuances — (1,276,555) (1,276,555) — — — Interest — (48,966) (48,966) — (4,314) (4,314) Net Premiums Collected — 221,836 221,836 — 32,927 32,927 Ending Balance at Original Discount Rate — (1,444,663) (1,444,663) — (241,058) (241,058) Effect of Changes in Discount Rate Assumptions — 45,452 45,452 — 32,688 32,688 Balance as of End of Period $ — $ (1,399,211) $ (1,399,211) $ — $ (208,370) $ (208,370) Present Value of Expected Future Policy Benefits Balance as of Beginning of Period $ 17,427,353 $ 604,767 $ 18,032,120 $ 14,021,515 $ 679,806 $ 14,701,321 Balance at Original Discount Rate $ 20,040,000 $ 701,655 $ 20,741,655 $ 17,321,203 $ 818,450 $ 18,139,653 Effect of Changes in Cash Flow Assumptions (28,430) — (28,430) (1,563) (46,438) (48,001) Effect of Actual Variances from Expected Experience 18,093 (34,295) (16,202) 29,339 13,296 42,635 Adjusted Beginning of Period Balance 20,029,663 667,360 20,697,023 17,348,979 785,308 18,134,287 Issuances 3,307,864 9,008,029 12,315,893 3,869,133 458 3,869,591 Interest 644,967 345,231 990,198 437,596 9,246 446,842 Benefit Payments (1,866,380) (683,709) (2,550,089) (1,615,708) (93,357) (1,709,065) Ending Balance at Original Discount Rate 22,116,114 9,336,911 31,453,025 20,040,000 701,655 20,741,655 Effect of Changes in Discount Rate Assumptions (3,048,636) (210,087) (3,258,723) (2,612,647) (96,888) (2,709,535) Balance as of End of Period 19,067,478 9,126,824 28,194,302 17,427,353 604,767 18,032,120 Net Liability for Future Policy Benefits 19,067,478 7,727,613 26,795,091 17,427,353 396,397 17,823,750 Less: Reinsurance Recoverable (3) (9,579,679) (6,139,016) (15,718,695) (9,270,511) (3,042) (9,273,553) Net Liability for Future Policy Benefits, Net of Reinsurance Recoverables $ 9,487,799 $ 1,588,597 $ 11,076,396 $ 8,156,842 $ 393,355 $ 8,550,197 (1) Payout annuities generally only have a single premium received at contract inception. As a result, the liability for future policy benefits generally would not reflect a present value for future premiums for payout annuities. (2) “Other” consists of activity related to long-term care insurance, variable annuities, traditional life insurance, preneed insurance, and fixed-rate annuity products. Mortality and morbidity risks associated with the long-term care insurance have been ceded to a third-party reinsurer. (3) Reinsurance recoverables associated with the liability for future policy benefits is net of the effect of changes in discount rate assumptions of $(284.7) million and $389.9 million for the years ended December 31, 2024 and 2023, respectively. The following table summarizes the amount of gross premiums related to traditional and limited-payment contracts recognized in the consolidated statements of operations for the years ended December 31, 2024, 2023, and 2022: Gross Premiums Years Ended December 31, 2024 2023 2022 Payout Annuities $ 3,577,363 $ 4,143,287 $ 2,400,351 Other 8,943,328 64,493 72,159 Total Products $ 12,520,691 $ 4,207,780 $ 2,472,510 The following table reflects the weighted-average duration and weighted-average interest rates of the future policy benefit liability as of December 31, 2024 and 2023: As of December 31, 2024 Payout Annuities Other Weighted-Average Interest Rates, Original Discount Rate 3.81 % 4.89 % Weighted-Average Interest Rates, Current Discount Rate 5.44 % 5.51 % Weighted-Average Liability Duration (Years, Current Rates) 8.45 9.46 As of December 31, 2023 Payout Annuities Other Weighted-Average Interest Rates, Original Discount Rate 3.37 % 2.57 % Weighted-Average Interest Rates, Current Discount Rate 4.95 % 4.95 % Weighted-Average Liability Duration (Years, Current Rates) 8.58 9.03 The following reflects the undiscounted ending balance of expected future gross premiums and expected future benefits and payments for traditional and limited-payment contracts, as of December 31, 2024 and 2023: As of December 31, 2024 Payout Annuities Other Expected Future Benefit Payments, Undiscounted $ 33,415,451 $ 16,509,005 Expected Future Benefit Payments, Discounted (Original Discount Rate) 22,116,114 9,336,911 Expected Future Benefit Payments, Discounted (Current Discount Rate) 19,067,478 9,126,824 Expected Future Gross Premiums, Undiscounted — 2,072,528 Expected Future Gross Premiums, Discounted (Original Discount Rate) — 1,614,118 Expected Future Gross Premiums, Discounted (Current Discount Rate) — 1,567,542 As of December 31, 2023 Payout Annuities Other Expected Future Benefit Payments, Undiscounted $ 29,164,580 $ 832,608 Expected Future Benefit Payments, Discounted (Original Discount Rate) 19,899,423 689,760 Expected Future Benefit Payments, Discounted (Current Discount Rate) 17,427,352 604,768 Expected Future Gross Premiums, Undiscounted — 377,693 Expected Future Gross Premiums, Discounted (Original Discount Rate) — 317,710 Expected Future Gross Premiums, Discounted (Current Discount Rate) — 262,653 Significant Inputs, Judgments, and Assumptions used in Measuring Future Policyholder Benefits Significant policyholder behavior and other assumption inputs to the calculation of the liability for future policy benefits include discount rates, mortality and, for life insurance, lapse rates. Global Atlantic reviews its assumptions at least annually, and more frequently if necessary. Accordingly, as part of the annual assumption review conducted during the year ended December 31, 2024, mortality assumptions were revised for payout annuities, which resulted in a $28.4 million increase to net income before taxes. During the year ended December 31, 2023, premium and lapse assumptions were revised for traditional life insurance products (included with the “Other” category), which resulted in a $4.2 million increase to net income before taxes. For the years ended December 31, 2024 and 2023, Global Atlantic recognized $238.1 million and $(315.0) million in other comprehensive income (loss) (gross of the impact of reinsurance), respectively, due to changes in the future policy benefits estimate from updating discount rates. During the years ended December 31, 2024 and 2023, there were no changes to the methods used to determine the discount rates. Additional Liability for Annuitization, Death, or Other Insurance Benefits The following tables reflect the additional liability for annuitization, death, or other insurance benefits roll-forward for the years ended December 31, 2024 and 2023: Years Ended December 31, 2024 2023 Balance as of Beginning of Period $ 7,251,266 $ 5,104,810 Effect of Changes in Cash Flow Assumptions (16,361) 13,773 Effect of Changes in Experience (59,717) (43,775) Adjusted Balance as of Beginning of Period 7,175,188 5,074,808 Issuances 23,401 1,929,571 Assessments 694,061 495,559 Benefits Paid (504,520) (399,201) Interest 242,080 150,529 Balance as of End of Period 7,630,210 7,251,266 Less: Impact of Unrealized Investment Gains and Losses 138,295 121,481 Less: Reinsurance Recoverable, End of Period 1,586,281 1,434,130 Balance, End of Period, Net of Reinsurance Recoverable and Impact of Unrealized Investment Gains and Losses $ 5,905,634 $ 5,695,655 The additional liability for annuitization, death, or other insurance benefits relates primarily to secondary guarantees on certain interest-sensitive life products, and preneed insurance. The following reflects the amount of gross assessments recognized for the additional liability for annuitization, death, or other insurance benefits in the consolidated statements of operations for the years ended December 31, 2024, 2023, and 2022: Gross Assessments Years Ended December 31, 2024 2023 2022 Total Amount Recognized Within Revenue in the Consolidated Statements of Operations $ 710,732 $ 471,957 $ 586,269 The following reflects the weighted average duration and weighted average interest rate for the additional liability for annuitization, death, or other insurance benefits as of December 31, 2024 and 2023: As of December 31, 2024 December 31, 2023 Weighted-Average Interest, Current Discount Rate 3.29 % 3.09 % Weighted-Average Liability Duration (Years) 26.51 27.64 Significant Inputs, Judgments, and Assumptions used in Measuring the Additional Liabilities for Annuitization, Death, or Other Insurance Benefits Significant policyholder behavior assumption inputs to the calculation of the additional liability for annuitization, death, or other insurance benefits include mortality, lapse rates, investment yields and interest margin. Global Atlantic reviews its assumptions at least annually, and more frequently if necessary. Accordingly, as part of the annual assumption review conducted during the year ended December 31, 2024, assumptions for lapse rates, investment yields, and interest margin were updated, which resulted in a $16.4 million decrease to net income before taxes. During the year ended December 31, 2023, assumptions for lapse rates, investment yields, and option budget costs were updated, which resulted in a $13.8 million increase to net income before taxes. Market Risk Benefits The following table presents the balances of, and changes in, market risk benefits: Years Ended December 31, 2024 December 31, 2023 Fixed-indexed Annuity Variable- and Other Annuities Total Fixed-indexed Annuity Variable- and Other Annuities Total Balance as of Beginning of Period $ 868,268 $ 252,683 $ 1,120,951 $ 548,536 $ 120,322 $ 668,858 Balance as of Beginning of Period, Before Impact of Changes in Instrument-specific Credit Risk $ 790,615 $ 225,594 $ 1,016,209 $ 651,641 $ 150,558 $ 802,199 Issuances 59,261 (49) 59,212 1,839 (36) 1,803 Interest 41,965 10,142 52,107 38,739 8,590 47,329 Attributed Fees Collected 104,938 89,462 194,400 103,961 83,712 187,673 Benefit Payments (7,240) (7,080) (14,320) (4,366) (1,729) (6,095) Effect of Changes in Interest Rates (177,230) (79,171) (256,401) (27,401) 4,464 (22,937) Effect of Changes in Equity Markets (18,262) (69,324) (87,586) (23,026) (86,643) (109,669) Effect of Actual Experience Different from Assumptions 49,020 (17,322) 31,698 142,453 11,021 153,474 Effect of Changes in Other Future Expected Assumptions (126,523) (2,145) (128,668) (93,225) 55,657 (37,568) Balance as of End of Period Before Impact of Changes in Instrument-Specific Credit Risk 716,544 150,107 866,651 790,615 225,594 1,016,209 Effect of Changes in Instrument-specific Credit Risk 99,437 33,829 133,266 77,653 27,089 104,742 Balance as of End of Period 815,981 183,936 999,917 868,268 252,683 1,120,951 Less: Reinsurance Recoverable as of the End of the Period — (11,371) (11,371) — (14,214) (14,214) Balance as of End of Period, Net of Reinsurance Recoverable $ 815,981 $ 172,565 $ 988,546 $ 868,268 $ 238,469 $ 1,106,737 Net Amount at Risk $ 4,696,606 $ 1,288,267 $ 5,984,873 $ 4,282,995 $ 1,423,763 $ 5,706,758 Weighted-average Attained Age of Contract holders (Years) 71 70 71 70 69 70 The following reflects the reconciliation of the market risk benefits reflected in the preceding table to the amounts reported in an asset and liability position, respectively, in the consolidated statements of financial condition as of December 31, 2024 and 2023: As of December 31, 2024 As of December 31, 2023 Asset Liability Net Asset Liability Net Fixed-Indexed Annuities $ 2,319 $ 818,300 $ (815,981) $ — $ 868,268 $ (868,268) Variable- and Other Annuities — 183,936 (183,936) 17 252,700 (252,683) Total $ 2,319 $ 1,002,236 $ (999,917) $ 17 $ 1,120,968 $ (1,120,951) Significant Inputs, Judgments, and Assumptions used in Measuring Market Risk Benefits Significant policyholder behavior and other assumption inputs to the calculation of the market risk benefits include interest rates, instrument-specific credit risk, mortality rates, surrender rates, and utilization rates. Global Atlantic reviews its assumptions at least annually, and more frequently if necessary. Accordingly, as part of the annual assumption review conducted during the year ended December 31, 2024, assumptions for fixed-indexed annuities mortality, surrenders, and utilization, and variable annuity activations were updated, which resulted in a $128.7 million increase to net income before taxes. During the year ended December 31, 2023, assumptions for fixed-indexed annuity surrender and partial withdrawals, and variable annuity surrender and activations were updated, which resulted in a $37.6 million increase to net income before taxes. Separate Account Liabilities Separate account assets and liabilities consist of investment accounts established and maintained by Global Atlantic for certain variable annuity and interest-sensitive life insurance contracts. Some of these contracts include minimum guarantees such as GMDBs and GMWBs that guarantee a minimum payment to the policyholder. The assets that support these variable annuity and interest-sensitive life insurance contracts are measured at fair value and are reported as separate account assets on the consolidated statements of financial condition. An equivalent amount is reported as separate account liabilities. Market risk benefit assets and liabilities for minimum guarantees are valued and presented separately from separate account assets and separate account liabilities. For more information on market risk benefits see “—Market risk benefits” in this footnote. Policy charges assessed against the policyholders for mortality, administration and other services are included in “Policy fees” in the consolidated statements of operations. The following table presents the balances of and changes in separate account liabilities: December 31, 2024 December 31, 2023 Variable Annuities Interest-Sensitive Life Total Variable Annuities Interest-Sensitive Life Total Balance as of Beginning of Period $ 3,565,029 $ 541,971 $ 4,107,000 $ 3,627,770 $ 503,024 $ 4,130,794 Premiums and Deposits 25,846 13,014 38,860 30,669 13,723 44,392 Surrenders, Withdrawals and Benefit Payments (551,657) (25,219) (576,876) (470,858) (22,207) (493,065) Investment Performance 474,335 94,489 568,824 497,887 95,314 593,201 Other (112,936) (43,812) (156,748) (120,439) (47,883) (168,322) Balance as of End of Period $ 3,400,617 $ 580,443 $ 3,981,060 $ 3,565,029 $ 541,971 $ 4,107,000 Cash Surrender Value as of End of Period (1) $ 3,400,617 $ 580,443 $ 3,981,060 $ 3,565,029 $ 541,971 $ 4,107,000 (1) Cash surrender value attributed to the separate accounts does not reflect the impact of surrender charges; surrender charges are attributed to policyholder account balances recorded in the general account. The following table presents the aggregate fair value of assets, by major investment asset type, supporting separate accounts: December 31, 2024 December 31, 2023 Asset Type: Managed Volatility Equity/Fixed Income Blended Fund $ 1,930,973 $ 2,131,149 Equity 1,685,944 1,596,467 Fixed Income 146,475 152,398 Money Market 217,086 226,387 Alternative 582 599 Total Assets Supporting Separate Account Liabilities $ 3,981,060 $ 4,107,000 Closed Blocks Summarized financial information of Global Atlantic’s closed blocks is as follows: December 31, 2024 December 31, 2023 Assets Total Investments $ 1,361 $ 1,272 Cash and Cash Equivalents 9,062 6,332 Accrued Investment Income 46 46 Reinsurance Recoverable 940,732 926,035 Deferred Income Taxes 50,321 42,926 Total Assets 1,001,522 976,611 Liabilities Policy Liabilities 899,732 877,856 Policyholder Dividend Obligation at Fair Value 76,297 77,762 Policyholder Dividends Payable at Fair Value 9,578 10,240 Total Policy Liabilities 985,607 965,858 Accrued Expenses and Other Liabilities 13,639 12,793 Total Liabilities 999,246 978,651 Excess of Closed Block Liabilities Over Assets Designated to the Closed Blocks and Maximum Future Earnings to be Recognized from Closed Block Assets and Liabilities $ (2,276) $ 2,040 Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Revenues Premiums and Other Income $ 1,449 $ (911) $ (436) Net Investment Expense 332 319 164 Total Revenues 1,781 (592) (272) Benefits and Expenses Policy Benefits and Claims (929) (2,219) (12,141) Other Expenses 44 (13) 251 Total Benefits and Expenses (885) (2,232) (11,890) Net Contribution from the Closed Blocks 2,666 1,640 11,618 Income Tax (Benefit) Expense (7,367) 861 16,185 Net Income (Loss) $ 10,033 $ 779 $ (4,567) Many expenses related to the closed block operations are charged to operations outside the closed blocks; accordingly, the contribution from the closed blocks does not represent the actual profitability of the closed block operations. The closed blocks of business represent policies acquired through acquisition, which were valued at fair value as of the acquisition date.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES KKR & Co. Inc. is a domestic corporation for U.S. federal income tax purposes and is subject to U.S. federal, state and local income taxes at the entity level on its share of taxable income. In addition, KKR Group Partnership and certain of its subsidiaries operate as partnerships for U.S. federal tax purposes but as taxable entities for certain state, local or non-U.S. tax purposes. Moreover, certain corporate subsidiaries of KKR, including certain subsidiaries of Global Atlantic, are domestic corporations for U.S. federal income tax purposes and are subject to U.S. federal, state, and local income taxes. Income (loss) before income taxes includes the following components: For the Years Ended December 31, 2024 2023 2022 Income (Loss) before Income Taxes: United States $ 5,087,745 $ 5,614,242 $ (713,238) Foreign 772,688 940,367 421,017 Total Income (Loss) before Income Taxes $ 5,860,433 $ 6,554,609 $ (292,221) The provision (benefit) for income taxes consists of the following: For the Years Ended December 31, 2024 2023 2022 Current Federal $ 363,242 $ 462,940 $ 737,737 State and Local 93,925 52,480 97,074 Foreign 188,837 108,836 94,473 Subtotal 646,004 624,256 929,284 Deferred Federal 249,601 447,488 (703,169) State and Local 62,538 121,198 (83,113) Foreign (3,747) 4,581 (17,609) Subtotal 308,392 573,267 (803,891) Total Income Taxes $ 954,396 $ 1,197,523 $ 125,393 The following table reconciles the U.S. Federal Statutory Tax Rate to the Effective Income Tax Rate: For the Years Ended December 31, 2024 2023 2022 Statutory U.S. Federal Income Tax Rate 21.0 % 21.0 % 21.0 % Income not attributable to KKR & Co. Inc. (1) (15.5) % (8.8) % (94.1) % Foreign Income Taxes — % (0.3) % 0.8 % State and Local Income Taxes 2.2 % 2.2 % (4.6) % Compensation Charges not attributable to KKR & Co. Inc. 10.1 % 4.9 % 31.4 % Change in Valuation Allowance (1.1) % — % — % Non-Deductible Expenses 1.1 % — % (0.8) % Other (1.5) % (0.7) % 3.4 % Effective Income Tax Rate 16.3 % 18.3 % (42.9) % (1) Represents primarily income attributable to noncontrolling interests for all periods. A summary of the tax effects of the temporary differences is as follows: Asset Management and Strategic Holdings December 31, 2024 December 31, 2023 Deferred Tax Assets Fund Management Fee Credits $ 127,006 $ 117,958 Equity Based Compensation 96,476 87,649 KKR Holdings Unit Exchanges (1) 387,836 421,065 Depreciation and Amortization (2) 140,088 172,995 Operating Lease Liability 179,640 83,594 Other 8,248 28,127 Total Deferred Tax Assets before Valuation Allowance 939,294 911,388 Valuation Allowance — — Total Deferred Tax Assets 939,294 911,388 Deferred Tax Liabilities Investment Basis Differences / Net Unrealized Gains & Losses (2)(3) 3,030,794 2,629,572 Indefinite Lived Intangible Asset (4) 444,123 494,907 Operating Lease Right-of-Use Asset 179,640 83,594 Other 74,452 24,853 Total Deferred Tax Liabilities 3,729,009 3,232,926 Total Deferred Taxes, Net $ (2,789,715) $ (2,321,538) (1) In connection with exchanges of KKR Holdings units into common stock of KKR & Co. Inc., KKR records a deferred tax asset associated with an increase in KKR & Co. Inc.'s share of the tax basis of the tangible and intangible assets of KKR Group Partnership. This amount is offset by an adjustment to record amounts due to KKR Holdings and principals under the tax receivable agreement, which is included within Due to Affiliates in the consolidated statements of financial condition. The net impact of these adjustments was recorded as an adjustment to equity at the time of the exchanges. (2) This deferred tax item includes a portion of the tax benefit KKR recognized as a result of the step-up in tax basis generated by the conversion of KKR & Co. L.P. to KKR & Co. Inc. (3) This deferred tax item includes a portion of the tax liability KKR recognized as a result of the Reorganization Mergers. See Note 1 "Organization" in our financial statements. (4) In connection with the acquisition of KJRM in 2022, KKR recognized a deferred tax liability resulting from the difference in the book and tax basis of the indefinite lived intangibles. Insurance December 31, 2024 December 31, 2023 Deferred Tax Assets Insurance Reserves $ 675,090 $ 552,373 Insurance Intangibles 461,211 358,154 Net Operating Loss and Capital Loss Carryforwards 813,382 828,727 Insurance Investment Basis Differences, Including Derivatives 819,881 587,339 Other 84,006 92,343 Total Deferred Tax Assets before Valuation Allowance 2,853,570 2,418,936 Valuation Allowance (36,933) (89,250) Total Deferred Tax Assets 2,816,637 2,329,686 Deferred Tax Liabilities Insurance Loss Reserve Adjustment 27,965 55,929 Total Deferred Tax Liabilities 27,965 55,929 Total Deferred Taxes, Net $ 2,788,672 $ 2,273,757 Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. In 2022, changes in market conditions, including rapidly rising interest rates, impacted the unrealized tax gains and losses in the available for sale securities portfolios of Global Atlantic, resulting in deferred tax assets related to net unrealized tax capital losses for which the carryforward period has not yet begun. As such, when assessing recoverability, Global Atlantic considered our ability and intent to hold the underlying securities to recovery. Based on all available evidence, Global Atlantic concluded that a valuation allowance should be established on a portion of the US deferred tax assets related to unrealized tax capital losses that are not more-likely-than-not to be realized, which represents the portion of the portfolio Global Atlantic estimates it would not be able to hold to recovery. In 2024, Global Atlantic concluded that it had the ability to utilize realized capital loss carryforwards prior to their expiration, and to recover its unrealized losses in the available for sale securities portfolio. As a result, Global Atlantic concluded that it was more likely than not that the related US deferred tax assets would be wholly realizable, and consequently released the previously recorded valuation allowance recorded against its deferred income tax assets. Therefore, the valuation allowance of $89 million was released through the income tax expense line of the statement of operations as of December 31, 2024. On December 27, 2023, the Government of Bermuda enacted the Bermuda Corporate Income Tax ("Bermuda CIT"). Commencing on January 1, 2025, the Bermuda CIT generally will impose a 15% corporate income tax on in-scope entities that are residents in Bermuda or have a Bermuda permanent establishment. On January 2, 2024, Global Atlantic became subject to Bermuda CIT and resulted in the establishment of a $22.1 million deferred tax asset, primarily on available-for-sale securities, which was offset by a full valuation allowance. As of December 31, 2024, a valuation allowance of $36.9 million was recorded on the deferred tax assets associated with Bermuda CIT as Global Atlantic does not believe those deferred tax assets will more likely than not be realized. As of December 31, 2024, the Global Atlantic Limited (Delaware) consolidated group has a U.S. federal net operating loss ("NOL") carryforward of $594.8 million; $56.3 million will begin to expire in 2034 and the remainder has an indefinite life. The Global Atlantic Limited (Delaware) consolidated group also has capital loss carryforwards of $402 million which will begin to expire in 2027. In addition, Global Atlantic Re Limited had a federal NOL of $2.6 billion, Global Atlantic Iris Re Limited has a federal NOL of $251.6 million, and the Global Atlantic Iris Non-life entities (Global Atlantic Iris FinCo LLC and Global Atlantic Iris LLC) have a federal NOL of $5.3 million, all of which have an indefinite life. As of December 31, 2024, KKR has accumulated undistributed earnings generated by certain foreign subsidiaries for which we have not recorded any deferred taxes with respect to outside U.S. federal income tax basis difference on these subsidiaries because of our ability and intent to reinvest such earnings indefinitely unless they can be distributed tax free. KKR will continue to evaluate its capital management plans. It is not practicable for us to determine the amount of unrecognized deferred income tax liability due to the complexity associated with the hypothetical calculation. On August 16, 2022, the Inflation Reduction Act (the “IRA”) was signed into law. The IRA enacted a new 15% corporate minimum tax ("CAMT") on the "adjusted financial statement income" of certain large corporations, which became effective on January 1, 2023. In addition, the IRA enacted a 1% excise tax on corporate stock repurchases completed after December 31, 2022. KKR does not expect to have a CAMT liability for the year ending December 31, 2024. KKR will continue to review and monitor the issuance of additional guidance from the U.S. Treasury and the IRS. On December 20, 2021, the OECD released Pillar Two Model Rules, which contemplate a global 15% minimum tax rate. The OECD continues to release additional guidance, including administrative guidance on interpretation and application of Pillar Two, and many countries have passed legislation and others continue to work towards passing legislation to comply with Pillar Two. The changes contemplated by Pillar Two, when enacted by various countries in which we do business, may increase our taxes in such countries. Based on the available legislation, KKR concluded there was no material impact on income taxes with respect to Pillar Two for the year ended December 31, 2024. KKR will continue to evaluate the potential future impacts of Pillar Two and will continue to review and monitor the issuance of additional guidance. Tax Contingencies KKR files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, KKR is subject to examination by U.S. federal and certain state, local and foreign tax regulators. As of December 31, 2024, tax returns of KKR and its predecessor entities are no longer subject to examinations for years before 2018 for U.S. federal tax returns and 2014 for state and local tax returns under general statute of limitations provisions. For the years ended December 31, 2024, 2023, and 2022, KKR's unrecognized tax benefits relating to uncertain tax positions, excluding related interest and penalties, consisted of the following: For the Years Ended December 31, 2024 2023 2022 Unrecognized Tax Benefits, beginning of period $ 16,476 $ 41,008 $ 59,633 Gross increases in tax positions in prior periods 10,677 — 5,169 Gross decreases in tax positions in prior periods — (13,878) (8,414) Gross increases in tax positions in current period 5,927 935 6,261 Lapse of statute of limitations (250) (219) (551) Settlements with taxing authorities — (11,370) (21,090) Unrecognized Tax Benefits, end of period $ 32,830 $ 16,476 $ 41,008 If the above tax benefits were recognized, the effective income tax rate would be reduced. KKR believes that there could be a decrease to the tax positions up to $15 million within 12 months of the reporting date but the impact of such decrease to the effective tax rate would not be significant. KKR recognizes interest and penalties accrued related to unrecognized tax benefits as income tax expense. Related to the unrecognized tax benefits, KKR had a net increase of accrued penalties of $0.4 million and interest of $1.8 million during 2024 and in total, as of December 31, 2024, recognized a liability for penalties of $2.3 million and interest of $6.9 million. During 2023, penalties decreased by $1.3 million and interest decreased by $6.7 million and in total, as of December 31, 2023, recognized a liability for penalties of $2.0 million and interest of $5.1 million. During 2022, penalties decreased by $2.0 million and interest decreased by $2.0 million and in total, as of December 31, 2022, recognized a liability for penalties of $3.2 million and interest of $11.8 million.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION The following table summarizes the expense associated with equity-based compensation in connection with KKR equity incentive awards and incentive awards previously granted under the Global Atlantic Financial Company Book Value Award Plan ("GA Book Value Plan") and the Global Atlantic Senior Management Equity Incentive Plan ("GA Equity Incentive Plan") for the years ended December 31, 2024, 2023, and 2022, respectively. As of December 31, 2024, there are no awards outstanding under either the GA Book Value Plan or the GA Equity Incentive Plan. For the Years Ended December 31, 2024 2023 2022 Asset Management (1) $ 611,644 $ 502,816 $ 569,518 Insurance 134,799 115,653 160,718 Total $ 746,443 $ 618,469 $ 730,236 (1) For the year ended December 31, 2022, $119.8 million represents equity-based compensation expense in connection with the allocation of units of KKR Holdings, which were not dilutive to common stockholders of KKR & Co. Inc. KKR Equity Incentive Awards Under KKR's equity incentive plans, KKR is permitted to grant equity awards representing ownership interests in KKR & Co. Inc. common stock. On March 29, 2019, the Amended and Restated KKR & Co. Inc. 2019 Equity Incentive Plan (the "2019 Equity Incentive Plan") became effective. Following the effectiveness of the 2019 Equity Incentive Plan, KKR no longer makes further grants under the Amended and Restated KKR & Co. Inc. 2010 Equity Incentive Plan (the "2010 Equity Incentive Plan" and, together with the 2019 Equity Incentive Plan, our "Equity Incentive Plans"), and the 2019 Equity Incentive Plan became KKR's only plan for providing new equity awards by KKR & Co. Inc. Outstanding awards under the 2010 Equity Incentive Plan will remain outstanding, unchanged and subject to the terms of the 2010 Equity Incentive Plan and their respective equity award agreements, until the vesting, expiration or lapse of such awards in accordance with their terms. The total number of equity awards representing shares of common stock that may be issued under the 2019 Equity Incentive Plan is equivalent to 15% of the aggregate number of the shares of common stock and KKR Group Partnership Units (excluding KKR Group Partnership Units held by KKR & Co. Inc. or its wholly-owned subsidiaries), subject to annual adjustment. As of December 31, 2024, 48,929,325 shares may be issued under the 2019 Equity Incentive Plan. KKR has also issued equity grants in the form of restricted holdings units through KKR Holdings III L.P. ("KKR Holdings III"), which are not issued under the 2019 Equity Incentive Plan and are currently held by certain current and former Global Atlantic employees. Equity awards granted generally consist of (i) restricted stock units that convert into shares of common stock of KKR & Co. Inc. (or cash equivalent) upon vesting and (ii) restricted holdings units that are exchangeable into shares of common stock of KKR & Co. Inc. upon vesting and certain other conditions, including those described below. Service-Vesting Awards KKR grants restricted stock units and restricted holdings units that are subject to service-based vesting, typically over a three Expense associated with the vesting of these Service-Vesting Awards is based on the closing price of KKR & Co. Inc. common stock on the date of grant, discounted for the lack of participation rights in the expected dividends on unvested equity awards. Expense is recognized on a straight line basis over the life of the award and assumes a forfeiture rate of up to 7% annually based upon expected turnover by class of recipient. As of December 31, 2024, there was approximately $906 million of total estimated unrecognized expense related to unvested Service-Vesting Awards, which is expected to be recognized over the weighted average remaining requisite service period of 2.4 years. A summary of the status of unvested Service-Vesting Awards granted from January 1, 2024 through December 31, 2024 is presented below: Shares (1) Weighted Balance, January 1, 2024 23,228,671 $ 53.22 Granted 5,796,078 92.29 Vested (7,062,056) 50.29 Forfeitures (856,803) 60.07 Balance, December 31, 2024 21,105,890 $ 64.65 (1) Unvested Service-Vesting Awards include restricted stock units and restricted holdings units granted to certain current and former Global Atlantic employees. Market Condition Awards KKR also grants restricted stock units and restricted holdings units that are subject to both a service-based vesting condition and a market price based vesting condition (referred to hereafter as "Market Condition Awards"). The following is a discussion of the Market Condition Awards, excluding the Co-CEO Awards (as defined and discussed below). The number of Market Condition Awards (other than the Co-CEO awards) that will vest depend upon (i) the market price of KKR common stock reaching certain price targets that range from $45.00 to $140.00 and (ii) the employee being employed by KKR on a certain date, which typically ranges from five Due to the existence of the service requirement, the vesting period for these Market Condition Awards (other than the Co-CEO awards) is explicit, and as such, compensation expense will be recognized on (i) a straight-line basis over the period from the date of grant through the date the award recipient is required to be employed by KKR and (ii) assumes a forfeiture rate of up to 7% annually based upon expected turnover. The fair value of the awards granted are based on a Monte Carlo simulation valuation model. In addition, the grant date fair value assumes that holders of the Market Condition Awards will not participate in dividends until such awards have met all of their vesting requirements. Below is a summary of the grant date fair value based on the Monte Carlo simulation valuation model and the significant assumptions used to estimate the grant date fair value of these Market Condition Awards: Weighted Range Grant Date Fair Value $30.62 $19.87 - $79.94 Closing KKR share price as of valuation date $51.74 $37.93 - $98.62 Risk Free Rate 2.21% 0.41% - 4.41% Volatility 30.04% 28.00% - 38.00% Dividend Yield 1.27% 0.71% - 1.53% Expected Cost of Equity 10.74% 9.13% - 11.80% As of December 31, 2024, there was approximately $557 million of total estimated unrecognized expense related to these unvested Market Condition Awards, which is expected to be recognized over the weighted average remaining requisite service period of 2.6 years. A summary of the status of unvested Market Condition Awards granted from January 1, 2024 through December 31, 2024 is presented below: Shares (1) Weighted Balance, January 1, 2024 36,497,589 $ 29.59 Granted 2,278,830 58.31 Vested (234,776) 22.10 Forfeitures (522,620) 31.44 Balance, December 31, 2024 38,019,023 $ 31.33 (1) Unvested Market Condition Awards include restricted holdings units granted to certain current and former Global Atlantic employees. As of December 31, 2024, all of the Market Condition awards have met their market price based vesting condition. These Market Condition awards remain unvested until their service conditions (as described above) are satisfied. Co-CEO Awards On December 9, 2021, the Board of Directors approved grants of 7.5 million restricted holdings units to each of KKR’s Co-Chief Executive Officers that are subject to both a service-based vesting condition and a market price based vesting condition (referred to hereafter as "Co-CEOs Awards"). For both Co-Chief Executive Officers, 20% of the Co-CEOs Awards are eligible to vest at each of the following KKR common stock prices targets: $95.80, $105.80, $115.80, $125.80 and $135.80. The market price based vesting condition is met when the average closing price of KKR common stock during 20 consecutive trading days meets or exceeds the stock price targets. In addition to the market price based vesting conditions, in order for the award to vest, the Co-Chief Executive Officer is required to be employed by KKR on December 31, 2026 (with exceptions for involuntary termination without cause, death and permanent disability). These awards will be automatically canceled and forfeited upon the earlier of a Co-Chief Executive Officer’s termination of service (except for involuntary termination without cause, death or permanent disability) or the failure to meet the market price based vesting condition by December 31, 2028 (for which continued service is required if the market price vesting condition is met after December 31, 2026). Co-CEO Awards do not participate in dividends until such awards have met both their service-based and market price based vesting requirements. Additionally, these awards are subject to additional transfer restrictions and minimum retained ownership requirements after vesting. Due to the existence of the service requirement, the vesting period for these Co-CEO Awards is explicit, and as such, compensation expense will be recognized on a straight-line basis over the period from the date of grant through December 31, 2026 given the derived service period is less than the explicit service period. The fair value of the awards granted are based on a Monte Carlo simulation valuation model. In addition, the grant date fair value assumes that these Co-CEO Awards will not participate in dividends until such awards have met all of their vesting requirements. Below is a summary of the grant date fair value based on the Monte Carlo simulation valuation model and the significant assumptions used to estimate the grant date fair value of these Co-CEO Awards: Grant Date Fair Value $48.91 Closing KKR share price as of valuation date $75.76 Risk Free Rate 1.42 % Volatility 28.0 % Dividend Yield 0.77 % Expected Cost of Equity 9.36 % As of December 31, 2024, there was approximately $290 million of total estimated unrecognized expense related to these unvested Co-CEO Awards, which is expected to be recognized ratably from January 1, 2025 to December 31, 2026. As of December 31, 2024, all Co-CEO Awards have met their market price based vesting condition. The Co-CEO Awards remain unvested until their service conditions (as described above) are satisfied. Modification and Replacement of Book Value Awards - Insurance On February 1, 2021, Global Atlantic adopted the GA Book Value Plan to enhance the ability of Global Atlantic to attract, motivate and retain its employees and to promote the success of the Global Atlantic business. The GA Book Value Plan authorized the grant of cash-settled awards ("book value awards," or "BVAs") representing the right to receive one or more payments upon vesting equal to the product of an initial dollar value set by the award multiplied by a pre-determined formula as of each applicable vesting date. The predetermined formula was equal to the quotient determined by dividing the book value of one share of TGAFG on the applicable vesting date by the book value of a share on the original grant date, subject to adjustments. Book value awards generally vested in three equal, annual installments, subject to continued employment. BVAs were accounted for as profit sharing arrangements in accordance with Accounting Standard Codification 710, Compensation – General ("ASC 710"). On January 2, 2024, KKR replaced the BVAs with approximately 1.9 million of Service-Vesting Awards granted pursuant to our 2019 Equity Incentive Plan, which are accounted for as equity classified awards in scope of ASC 718. As such, this modification resulted in (i) a change in scope from ASC 710 to ASC 718, (ii) a change in classification from liability to equity and (iii) a corresponding reclassification of $77 million from Accrued Expenses and Other Liabilities to Additional Paid-In Capital in the consolidated statement of financial condition. Accordingly, these awards are not remeasured to fair value after the modification date. No incremental expense recognition was required upon the modification of the BVAs, because no incremental value was transferred to employees. The service and vesting conditions of the Service-Vesting Awards mirror those of the BVAs. Modification and Replacement of GA Equity Incentive Plan Awards - Insurance On June 24, 2021, Global Atlantic issued 1,000 non-voting incentive shares to a Bermuda exempted partnership owned by certain Global Atlantic employees, who were eligible to receive incentive units under the GA Equity Incentive Plan. These incentive units represented an interest in the receipt of certain amounts based on Global Atlantic's book value, market value, and AUM, in each case as derived in part from the value of TGAFG’s fully-diluted equity shares. The GA Equity Incentive Plan awards were accounted for as a hybrid compensation plan, consisting of one component most closely aligned with a profit-sharing plan under ASC 710, as well as other components within scope of ASC 718, in all cases with obligations liability-classified. Accordingly, with regard to awards within scope of ASC 710, Global Atlantic recorded expense based on payouts deemed to be probable and reasonably estimable based on the book value growth of Global Atlantic at the grant date and at each reporting period. For award components subject to liability-classification under ASC 718, Global Atlantic recorded expense, net of a 0% estimated forfeiture rate, based on the fair value of awards granted, with periodic adjustments to expense for changes in fair value, over the requisite 5-year service period. On January 2, 2024, KKR replaced the GA Equity Incentive Plan awards with (i) 1.3 million of Service-Vesting Awards with a remaining vesting period of approximately 2 years and 0.9 million of Market Condition Awards, both of which are accounted for as equity classified awards in scope of ASC 718, and (ii) $54 million in vested KKR Holdings III restricted holdings units. As such, this modification resulted in (i) a change in scope from ASC 710 to ASC 718 for a portion of the award, (ii) a change in classification from liability to equity and (iii) a corresponding reclassification of $149 million from Accrued Expenses and Other Liabilities to Additional Paid-In Capital in the consolidated statement of financial condition. No incremental expense recognition was required upon the modification of the GA Equity Incentive Plan awards, because no incremental value was transferred to employees. Due to the existence of the service requirement, the vesting period for the Market Condition Awards is explicit, and as such, compensation expense will be recognized on (i) a straight-line basis over the period from the date of grant through the date the award recipient is required to be employed by KKR and (ii) assumes a forfeiture rate of up to 4% annually based upon expected turnover. The fair value of the awards granted are based on a Monte Carlo simulation valuation model.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Due from Affiliates consists of: December 31, 2024 December 31, 2023 Amounts due from unconsolidated investment funds $ 1,583,090 $ 1,229,308 Amounts due from portfolio companies 272,955 217,544 Due from Affiliates $ 1,856,045 $ 1,446,852 Due to Affiliates consists of: December 31, 2024 December 31, 2023 Amounts due to current and former employees under the tax receivable agreement $ 378,951 $ 406,730 Amounts due to unconsolidated investment funds 145,565 131,369 Due to Affiliates $ 524,516 $ 538,099 Tax Receivable Agreement KKR Group Co. Inc. (formerly KKR & Co. Inc.) and KKR Holdings were parties to a tax receivable agreement, which required KKR to pay to KKR Holdings or to its limited partners a portion of any cash tax savings realized by KKR resulting from their exchange of KKR Group Partnership Units for shares of common stock. In connection with the Reorganization Mergers, KKR Holdings and KKR terminated the tax receivable agreement on May 30, 2022; provided that, notwithstanding such termination of the tax receivable agreement, all obligations of KKR to make payments arising under the tax receivable agreement with respect to any exchanges completed prior to May 30, 2022 remain outstanding until fully paid. Prior to the Reorganization Mergers, KKR was required to acquire KKR Group Partnership Units from time to time pursuant to the exchange agreement with KKR Holdings. The KKR Group Partnership made an election under Section 754 of the Code that was effective for each taxable year in which an exchange of KKR Group Partnership Units for shares of common stock occurred, which may have resulted in an increase in KKR's tax basis of the assets of KKR Group Partnership at the time of an exchange of KKR Group Partnership Units. Certain of these exchanges were expected to result in an increase in KKR's share of the tax basis of the tangible and intangible assets of the KKR Group Partnership, primarily attributable to a portion of the goodwill inherent in KKR's business that would not otherwise have been available. This increase in tax basis may have increased depreciation and amortization deductions for tax purposes and therefore reduced the amount of income tax KKR otherwise would be required to pay. This increase in tax basis may have also decreased gain (or increased loss) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The tax receivable agreement required KKR to pay to KKR Holdings, or to current and former principals who exchanged KKR Holdings Units for shares of common stock (as transferees of KKR Group Partnership Units), 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax that KKR realized as a result of the increase in tax basis described above, as well as 85% of the amount of any such savings KKR actually realized as a result of increases in tax basis that arose due to future payments under the agreement. KKR benefited from the remaining 15% of cash savings, if any, in income tax that it realized. These payment obligations are obligations of KKR Group Co. Inc. (formerly KKR & Co. Inc.) and its wholly-owned subsidiary, KKR Group Holdings Corp., which are treated as corporations for U.S. tax purposes, but are not payment obligations of KKR & Co. Inc. or KKR Group Partnership L.P., and are recorded within Due to Affiliates in the accompanying consolidated statements of financial condition. Payments made under the tax receivable agreement are required to be made within 90 days of the filing of KKR's tax returns, which may result in a timing difference between the tax savings received by KKR and the cash payments made to the exchanging holders of KKR Group Partnership Units. Effective July 1, 2018, we amended the tax receivable agreement to reflect the conversion of KKR & Co. L.P. to KKR Group Co. Inc. (formerly KKR & Co. Inc.) on July 1, 2018 (the "Conversion"). The amendment also provides that, in the event the maximum U.S. federal corporate income tax rate is increased to a rate higher than 21.0% within the five- year period following the Conversion, for exchanges pursuant to the exchange agreement that take place within that five-year period (other than exchanges following the death of an individual), payments of cash tax savings realized as a result of such exchanges shall be calculated by applying a U.S. federal corporate income tax rate not to exceed 21.0%. The amendment also clarified that the tax benefit payments with respect to exchanges completed at any time prior to the Conversion will be calculated without taking into account the step-up in tax basis in our underlying assets that we generated in 2018 as a result of the Conversion. For the years ended December 31, 2024, 2023, and 2022, cash payments that have been made under the tax receivable agreement were $27.2 million, $16.3 million, and $10.3 million, respectively. KKR expects to benefit from the remaining 15% of cash savings, if any, in income tax that they realize. As of December 31, 2024, $18.3 million of cumulative income tax savings have been realized. Discretionary Investments Certain of KKR's current and former employees and other qualifying personnel are permitted to invest, and have invested, their own capital in KKR's funds, in side-by-side investments with these funds and the firm, as well as in funds managed by its hedge fund partnerships. Side-by-side investments are made on the same terms and conditions as those acquired by the applicable fund or the firm, except that the side-by-side investments do not subject the investor to management fees or a carried interest. The cash contributed by these individuals aggregated $863.8 million, $629.0 million, and $714.8 million for the years ended December 31, 2024, 2023, and 2022, respectively. Aircraft and Other Services Certain of our senior employees own aircraft that are used for KKR's business in the ordinary course of its operations. The hourly rates that KKR pays for the use of these aircraft are based on current market rates for chartering private aircraft of the same type. KKR incurred $6.2 million, $3.4 million, and $2.9 million for the use of these aircraft for the years ended December 31, 2024, 2023, and 2022, respectively, of which substantially all was paid to entities controlled by Messrs. Kravis, Roberts and Nuttall, and of which substantially all was borne by KKR rather than its investment funds (which indirectly bear the cost of some of these flights at commercial airline rates). Facilities Messrs. Kravis and Roberts, including their estate planning trusts, whose beneficiaries include their children, and certain other senior employees who are not executive officers of KKR, are minority limited partners in a real estate partnership that owns KKR's Menlo Park location. Payments made to this partnership were $7.7 million, $9.5 million, and $8.8 million for the years ended December 31, 2024, 2023, and 2022, respectively. In November 2022, this lease was renewed for another 15-year term. Other Transactions In June 2024, certain of our funds contributed equity interests in one portfolio company to another portfolio company in which Mr. Niel indirectly owns a minority equity interest and is a board member. Both of these portfolio companies were, and remain, majority-owned by our funds. In connection with this transaction, the contributing funds received additional equity interests in the acquiring portfolio company, with KKR’s equity interest as general partner of the contributing funds representing a value of approximately $22 million. As a result of the transaction, Mr. Niel’s equity interest in the acquiring portfolio company, which was and remains less than 5% of its outstanding equity, was diluted on the same basis as other equity holders unaffiliated with KKR. Mr. Niel was not involved in the negotiation of the transaction.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING KKR operates through three reportable segments which are presented below and reflect how its chief operating decision-makers, who are the Co-Chief Executive Officers, allocate resources and assess performance: • Asset Management - The asset management business offers a broad range of investment management services to investment funds, vehicles and accounts (including Global Atlantic and the Strategic Holdings segment) and provides capital markets services to portfolio companies and third parties. This reportable segment also reflects how its business lines operate collaboratively with predominantly a single expense pool. • Insurance - The insurance business is operated by Global Atlantic, which is a leading U.S. retirement and life insurance company that provides a broad suite of protection, legacy and savings products and reinsurance solutions to clients across individual and institutional markets. Global Atlantic primarily generates income by earning a spread between its investment income and the cost of policyholder benefits. • Strategic Holdings - The strategic holdings business currently represents KKR's participation in its core private equity strategy, which was previously presented in the Asset Management segment’s Principal Activities business line. This segment primarily generates income from dividends from these businesses. Dividends are presented net of management fees paid to the Asset Management segment. If KKR were to sell a portion or all of a business reported in Strategic Holdings, the realized gain or loss would be presented as realized investment income, net of a performance fee paid to the Asset Management segment. KKR’s segment profitability measure used to make operating decisions and assess performance across KKR’s reportable segments is presented prior to giving effect to the allocation of income (loss) among KKR & Co. Inc. and holders of any exchangeable securities, and the consolidation of the investment funds, vehicles and accounts that KKR advises, manages or sponsors (including CFEs). For each segment, the chief operating decision makers use the key measure of segment earnings to allocate resources to that segment in the annual budget and forecasting process. KKR's segment profitability measure excludes: (i) equity-based compensation charges, (ii) amortization of acquired intangibles, and (iii) transaction-related and non-operating items, if any. Transaction-related and non-operating items arise from corporate actions and non-operating items, which consist of: (i) impairments, (ii) transaction costs from acquisitions, (iii) depreciation on real estate that KKR owns and occupies, (iv) contingent liabilities, net of any recoveries, and (v) other gains or charges that affect period-to-period comparability and are not reflective of KKR's ongoing operational performance. Inter-segment transactions are not eliminated from segment results when management considers those transactions in assessing the results of the respective segments. These transactions include (i) management fees earned by the Asset Management segment as the investment adviser for Global Atlantic insurance companies, (ii) management and performance fees earned by the Asset Management segment from the Strategic Holdings segment, and (iii) interest income and expense based on lending arrangements where the Asset Management segment borrows from the Insurance segment. All these inter-segment transactions are recorded by each segment based on the applicable governing agreements. Total Segment Earnings represents the total segment earnings of KKR’s Asset Management, Insurance, and Strategic Holdings segments: • Asset Management Segment Earnings is the segment profitability measure used to make operating decisions and to assess the performance of the Asset Management segment. This measure is presented before income taxes and is comprised of: (i) Fee Related Earnings, (ii) Realized Performance Income, (iii) Realized Performance Income Compensation, (iv) Realized Investment Income, and (v) Realized Investment Income Compensation. Asset Management Segment Earnings excludes the impact of: (i) unrealized gains (losses) on investments, (ii) unrealized carried interest, and (iii) unrealized carried interest compensation. Management fees earned by KKR as the adviser, manager or sponsor for its investment funds, vehicles and accounts, including its Global Atlantic insurance companies and Strategic Holdings segment, are included in Asset Management Segment Earnings. • Insurance Operating Earnings is the segment profitability measure used to make operating decisions and to assess the performance of the Insurance segment. This measure is presented before income taxes and is comprised of: (i) Net Investment Income, (ii) Net Cost of Insurance, and (iii) General, Administrative, and Other Expenses. Insurance Operating Earnings excludes the impact of: (i) investment gains (losses) which include realized gains (losses) related to asset/liability matching investment strategies and unrealized investment gains (losses) and (ii) non-operating changes in policy liabilities and derivatives which includes (a) changes in the fair value of market risk benefits and other policy liabilities measured at fair value and related benefit payments, (b) fees attributed to guaranteed benefits, (c) derivatives used to manage the risks associated with policy liabilities, and (d) losses at contract issuance on payout annuities. Insurance Operating Earnings includes (i) realized gains and losses not related to asset/liability matching investment strategies and (ii) the investment management costs that are earned by our Asset Management segment as the investment adviser of the Global Atlantic insurance companies. • Strategic Holdings Segment Earnings is the segment profitability measure used to make operating decisions and to assess the performance of the Strategic Holdings segment. This measure is presented before income taxes and is comprised of: Dividends, Net and Net Realized Investment Income. Strategic Holdings Segment Earnings excludes the impact of unrealized gains (losses) on investments. Strategic Holdings Segment Earnings includes management fees and performance fee expenses that are earned by the Asset Management segment. KKR disclosed all the segment expenses under the significant expense principle for each reportable segment. There are no expenses to be disclosed in the other segment category, because segment revenues minus segment expenses equals the segment measure of profit of each reportable segment. Modification of Segment Information In connection with the scaling of the core private equity strategy on KKR’s balance sheet and the acquisition of the remaining minority equity interests in Global Atlantic on January 2, 2024, KKR reevaluated the manner in which it makes operational and resource deployment decisions and assesses the overall performance of KKR's business. Effective with the first quarter of 2024, KKR changed the preparation of the reports used by KKR's chief operating decision makers. As a result, KKR has modified the presentation of its segment financial information with retrospective application to all prior periods presented. The most significant changes between KKR's current segment presentation and its previous segment presentation reported prior to the first quarter of 2024, are as follows: • Creating a new business segment, Strategic Holdings - The new segment is currently comprised of KKR’s participation in its core private equity strategy. Our participation in the core private equity strategy has scaled into a business KKR now evaluates separately from its Asset Management segment. Additionally, KKR may also acquire other long-term assets that are not part of the core private equity strategy for this segment. As of the first quarter of 2024, KKR’s participation in its core private equity strategy no longer is reported as part of the Asset Management segment. The Asset Management segment continues to represent KKR's business separate from its insurance operations and continues to reflect how the chief operating decision makers allocate resources and assess performance in the asset management business, which includes operating collaboratively across its business lines, with predominantly a single expense pool. Effective as of the first quarter of 2024, the results of our Strategic Holdings segment includes a management fee and performance fee that is paid to our Asset Management segment for providing advisory services rather than allocating the costs borne by our Asset Management segment to support our Strategic Holdings segment. The historical amounts presented herein do not include any management or performance fees since the governing agreement was not in place prior to the first quarter of 2024. • Segment Earnings - Segment Earnings is the performance measure for KKR's segment profitability and is used by management in making operational decisions and to assess performance. Segment Presentation The following tables set forth information regarding KKR's segment results: Years Ended December 31, 2024 2023 2022 Asset Management Management Fees (1)(2) $ 3,461,381 $ 3,030,325 $ 2,656,487 Transaction and Monitoring Fees, Net 1,165,884 720,654 775,933 Fee Related Performance Revenues 137,992 94,427 90,665 Fee Related Compensation (833,918) (865,336) (769,735) Other Operating Expenses (663,543) (596,284) (585,999) Fee Related Earnings 3,267,796 2,383,786 2,167,351 Realized Performance Income (3) 1,822,115 1,065,389 2,176,658 Realized Performance Income Compensation (1,213,327) (666,440) (1,333,526) Realized Investment Income (4) 534,668 645,031 1,033,186 Realized Investment Income Compensation (80,198) (103,590) (159,003) Asset Management Segment Earnings $ 4,331,054 $ 3,324,176 $ 3,884,666 Insurance Net Investment Income (1) (4) $ 6,328,822 $ 5,377,817 $ 4,112,244 Net Cost of Insurance (4,448,886) (3,283,009) (2,295,133) General, Administrative and Other (865,390) (805,109) (638,274) Pre-tax Operating Earnings 1,014,546 1,289,699 1,178,837 Pre-tax Operating Earnings Attributable to Noncontrolling Interests — (473,062) (454,075) Insurance Operating Earnings $ 1,014,546 $ 816,637 $ 724,762 Strategic Holdings Dividends, Net (2) $ 76,211 $ 14,531 $ 52,863 Strategic Holdings Operating Earnings 76,211 14,531 52,863 Net Realized Investment Income (3) 87,693 — 35,332 Strategic Holdings Segment Earnings $ 163,904 $ 14,531 $ 88,195 Total Segment Earnings $ 5,509,504 $ 4,155,344 $ 4,697,623 (1) Includes intersegment management fees of $537.2 million, $445.9 million, and $301.3 million earned by the Asset Management segment from the Insurance segment for the years ended December 31, 2024, 2023, and 2022, respectively. (2) Includes intersegment management fees of $31.8 million earned by the Asset Management segment from the Strategic Holdings segment for the year ended December 31, 2024. (3) Includes intersegment performances fees of $15.5 million earned by the Asset Management segment from the Strategic Holdings segment for the year ended December 31, 2024. (4) Includes intersegment interest expense of $10.2 million, $186.4 million, and $145.3 million for the years ended December 31, 2024, 2023, and 2022, respectively. As of December 31, 2024 2023 Segment Assets: Asset Management $ 25,868,340 $ 27,052,445 Insurance 243,719,868 207,160,065 Strategic Holdings 8,052,232 6,668,834 Total Segment Assets $ 277,640,440 $ 240,881,344 Years Ended December 31, Non-cash expenses excluded from Segment Earnings 2024 2023 2022 Equity Based Compensation and Other Asset Management (1) $ 611,644 $ 502,816 $ 569,518 Insurance (2) 134,799 71,579 93,508 Total Non-cash expenses $ 746,443 $ 574,395 $ 663,026 (1) For the year ended December 31, 2022, $119.8 million represents equity-based compensation expense in connection with the allocation of units of KKR Holdings, which were not dilutive to common stockholders of KKR & Co. Inc. (2) Amounts include the portion allocable to KKR & Co. Inc. Reconciliations of Total Segment Amounts The following tables reconcile Segment Revenues, Expenses, Earnings, and Assets to their equivalent GAAP measure: Years Ended December 31, 2024 2023 2022 Total GAAP Revenues $ 21,878,698 $ 14,499,312 $ 5,704,180 Impact of Consolidation and Other 1,344,972 861,928 841,711 Asset Management Adjustments: Capital Allocation-Based Income (Loss) (GAAP) (3,558,284) (2,843,437) 2,500,509 Realized Carried Interest 1,481,760 1,005,759 1,993,860 Realized Investment Income 534,668 645,031 1,033,186 Capstone Fees (110,953) (100,314) (86,665) Expense Reimbursements (152,726) (75,687) (102,927) Strategic Holdings Adjustments: Realized Investment Income and Dividends 211,157 14,531 88,195 Insurance Adjustments: Net Premiums (7,898,834) (1,975,675) (1,182,461) Policy Fees (1,377,686) (1,260,249) (1,261,721) Other Income (238,410) (176,442) (139,124) (Gains) Losses from Investments (1) 1,532,863 700,380 472,053 Non-Operating Changes in Policy Liabilities and Derivatives (32,459) (346,963) 1,072,572 Total Segment Revenues (2) $ 13,614,766 $ 10,948,174 $ 10,933,368 (1) Includes gains and losses on funds withheld receivables and payables embedded derivatives. (2) Total Segment Revenues is comprised of (i) Management Fees, (ii) Transaction and Monitoring Fees, Net, (iii) Fee Related Performance Revenues, (iv) Realized Performance Income, (v) Realized Investment Income, (vi) Net Investment Income, and (vii) Dividends, Net. Years Ended December 31, 2024 2023 2022 Total GAAP Expenses $ 20,985,860 $ 12,358,605 $ 5,997,816 Impact of Consolidation and Other (448,776) (392,778) (252,829) Equity-based compensation - KKR Holdings (1) — — (119,834) Asset Management Adjustments: Equity-based Compensation (611,644) (502,816) (449,685) Unrealized Carried Interest Compensation (1,505,558) (792,758) 1,753,396 Transaction-related and Non-operating Items (122,009) (31,805) (53,919) Reimbursable Expenses (152,726) (75,687) (102,927) Capstone Expenses (81,280) (77,642) (81,746) Insurance Adjustments: Net Premiums (7,898,834) (1,975,675) (1,182,461) Policy Fees (1,377,686) (1,260,249) (1,261,721) Other Income (238,410) (176,442) (139,124) Non-Operating Changes in Policy Liabilities (270,326) (608,081) 1,877,814 Equity-Based and Other Compensation (134,799) (115,653) (160,718) Amortization of Intangibles (17,935) (17,647) (17,647) Transaction-Related and Non-Operating Items (20,615) (11,604) (24,745) Total Segment Expenses (2) $ 8,105,262 $ 6,319,768 $ 5,781,670 (1) Represents equity-based compensation expense in connection with the allocation of KKR Holdings Units, which were not dilutive to common stockholders of KKR & Co. Inc. (2) Total Segment Expenses is comprised of (i) Fee Related Compensation, (ii) Realized Performance Income Compensation, (iii) Realized Investment Income Compensation, (iv) Net Cost of Insurance, (v) General, Administrative and Other, and (vi) Other Operating Expenses. Years Ended December 31, 2024 2023 2022 Income (Loss) Before Tax (GAAP) $ 5,860,433 $ 6,554,609 $ (292,221) Impact of Consolidation and Other (1,252,727) (1,543,641) (371,227) Interest Expense, Net 302,381 325,919 302,151 Equity-based compensation - KKR Holdings (1) — — 119,834 Asset Management Adjustments: Unrealized (Gains) Losses (673,790) (843,627) 2,445,529 Unrealized Carried Interest (1,943,200) (1,656,974) 4,231,359 Unrealized Carried Interest Compensation 1,505,558 792,758 (1,753,396) Transaction-related and Non-operating Items 122,009 31,805 94,629 Equity-based Compensation 279,418 230,858 210,756 Equity-based Compensation - Performance based 332,226 271,958 238,929 Strategic Holdings Adjustments: Unrealized (Gains) Losses (958,418) (691,307) (443,447) Insurance Adjustments: (2) (Gains) Losses from Investments (2)(3) 1,465,348 363,956 379,647 Non-Operating Changes in Policy Liabilities and Derivatives (2) 296,917 228,929 (584,495) Transaction-Related and Non-Operating Items (2) 20,615 7,347 15,215 Equity-Based and Other Compensation (2) 134,799 71,579 93,508 Amortization of Acquired Intangibles (2) 17,935 11,175 10,852 Total Segment Earnings $ 5,509,504 $ 4,155,344 $ 4,697,623 (1) Represents equity-based compensation expense in connection with the allocation of KKR Holdings Units, which were not dilutive to common stockholders of KKR & Co. Inc. (2) Amounts represent the portion allocable to KKR. (3) Includes gains and losses on funds withheld receivables and payables embedded derivatives. As of December 31, 2024 December 31, 2023 Total GAAP Assets $ 360,099,411 $ 317,294,194 Impact of Consolidation and Reclassifications (78,288,198) (73,748,156) Carry Pool Reclassifications (4,170,773) (2,664,694) Total Segment Assets $ 277,640,440 $ 240,881,344

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
EQUITY	EQUITY Stockholders' Equity Common Stock The common stock of KKR & Co. Inc. is entitled to vote as provided by its certificate of incorporation, Delaware General Corporation Law and the rules of the New York Stock Exchange ("NYSE"). Subject to preferences that apply to any shares of preferred stock outstanding at the time on which dividends are payable, the holders of common stock are entitled to receive dividends out of funds legally available if the Board of Directors, in its discretion, determines to declare dividends and then only at the times and in the amounts that the Board of Directors may determine. The common stock is not entitled to preemptive rights and is not subject to conversion, redemption or sinking fund provisions. Series I Preferred Stock Except for any distribution required by Delaware law to be made upon a dissolution event, the holders of Series I preferred stock do not have any economic rights to receive dividends. Series I preferred stock is entitled to vote on various matters that may be submitted to vote of the stockholders and the other matters as set forth in the certificate of incorporation. Upon a dissolution event, each holder of Series I preferred stock will be entitled to a payment equal to $0.01 per share of Series I preferred stock. The Series I preferred stock will be eliminated on the Sunset Date (as defined in Note 1 "Organization"), which is scheduled to occur not later than December 31, 2026. Share Repurchase Program Under KKR's repurchase program, shares of common stock of KKR & Co. Inc. may be repurchased from time to time in open market transactions, in privately negotiated transactions or otherwise. The timing, manner, price and amount of any repurchases will be determined by KKR in its discretion and will depend on a variety of factors, including legal requirements, price and economic and market conditions. In addition to the repurchases of common stock, the repurchase program will be used for the retirement (by cash settlement or the payment of tax withholding amounts upon net settlement) of equity awards granted pursuant to our 2019 Equity Incentive Plan representing the right to receive common stock. KKR expects that the program will be in effect until the maximum approved dollar amount has been used. The program does not require KKR to repurchase or retire any specific number of shares of common stock or equity awards, respectively, and the program may be suspended, extended, modified or discontinued at any time. As of January 31, 2025, there was approximately $69 million remaining under the program. In April 2024, the share repurchase program was amended such that when the remaining available amount under the share repurchase program becomes $50 million or less, the total available amount under the share repurchase program will automatically add an additional $500 million to the then remaining available amount of $50 million or less. The repurchase program does not have an expiration date. The following table presents the shares of KKR & Co. Inc. common stock that have been repurchased or equity awards retired under the repurchase program: For the Years Ended December 31, 2024 2023 2022 Shares of common stock repurchased — 5,395,162 5,191,174 Equity awards for common stock retired 1,170,857 764,999 1,308,501 Change in KKR & Co. Inc.'s Ownership Interest Vesting of restricted holdings units results in a change in ownership in KKR Group Partnership, while KKR retains a controlling interest, and is accounted for as an equity transaction between the controlling and noncontrolling interests. Noncontrolling Interests Noncontrolling interests in consolidated entities represent the non-redeemable ownership interests in KKR that are held primarily by: (i) third party fund investors in KKR's consolidated funds and certain other entities; (ii) third parties in KKR's Capital Markets business line; (iii) certain current and former employees who hold exchangeable securities; and (iv) certain third-party investors in certain of Global Atlantic's consolidated entities. The following table presents total noncontrolling interests: For the Years Ended December 31, 2024 2023 2022 Beginning of Period (as previously reported for the prior period) $ 34,904,791 $ 35,778,000 $ 40,474,565 Adoption of New Accounting Standard (See Note 2) — 632,858 104,961 Balance at the beginning of the period (as revised for the prior period) 34,904,791 36,410,858 40,579,526 Net Income (Loss) Attributable to Noncontrolling Interests 1,756,643 1,630,230 101,258 Other Comprehensive Income (Loss), net of tax 6,294 588,415 (3,919,807) Compensation Modification - Issuance of Holdings III Units (See Note 19) 53,623 — — Equity-Based Compensation (Non Cash Contribution) 432,299 323,577 364,225 2024 GA Acquisition - Cash consideration (See Note 1) (2,622,230) — — 2024 GA Acquisition - Issuance of Holdings III Units (See Note 1) 40,789 — — Exchange of KKR Holdings units to Common Stock — — (12,865) Holdings Merger (See Note 1) — — (7,197,950) Change in KKR & Co. Inc.'s Ownership - 2024 GA Acquisition 2,169,300 — — Change in KKR & Co. Inc.'s Ownership Interest (431,394) (156,867) (170,436) Capital Contributions 7,466,717 12,871,585 13,706,821 Capital Distributions (8,191,990) (8,301,516) (7,039,914) Changes in Consolidation 1,163,105 (8,461,491) — Balance at the end of the period $ 36,747,947 $ 34,904,791 $ 36,410,858

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTERESTS	12 Months Ended
	Dec. 31, 2024
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTERESTS	REDEEMABLE NONCONTROLLING INTERESTS Redeemable noncontrolling interests represent: (i) Noncontrolling interests of certain KKR investment funds and vehicles that are subject to periodic redemption by fund investors following the expiration of a specified period of time, or may be withdrawn subject to a redemption fee during the period when capital may not be otherwise withdrawn. Consolidated fund investor's interests subject to redemption as described above are presented as Redeemable Noncontrolling Interests in the accompanying consolidated statements of financial condition and presented as Net Income (Loss) Attributable to Redeemable Noncontrolling Interests in the accompanying consolidated statements of operations. When redeemable amounts become legally payable to fund investors, they are classified as a liability and included in Accounts Payable, Accrued Expenses, and Other Liabilities in the accompanying consolidated statements of financial condition. (ii) During the quarter ended September 30, 2024, Global Atlantic acquired the remaining outstanding redeemable noncontrolling interests in certain renewable energy entities. Global Atlantic had redeemable noncontrolling interests related to a renewable energy entity of approximately $47.8 million as of December 31, 2023, as determined by the HLBV method. The following table presents the calculation of Redeemable Noncontrolling Interests: For the Years Ended December 31, 2024 2023 2022 Balance at the beginning of the period $ 615,427 $ 152,065 $ 82,491 Net Income (Loss) Attributable to Redeemable Noncontrolling Interests 73,149 (5,405) 2,792 Capital Contributions 922,127 499,433 69,322 Capital Distributions (23,763) (2,845) (2,540) Change in KKR & Co. Inc.'s Ownership Interest (1,763) — — Changes in Consolidation — (27,821) — Balance at the end of the period $ 1,585,177 $ 615,427 $ 152,065

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Funding Commitments and Others As of December 31, 2024, KKR had unfunded commitments consisting of $11.0 billion to its investment funds and vehicles. These unfunded commitments also include funding requirements to levered investment vehicles and structured transactions to fund or otherwise be liable for a portion of the vehicle's investment losses and/or to provide the vehicle with liquidity upon certain termination events. In addition to these uncalled commitments and funding obligations to KKR's investment funds and vehicles, KKR has entered into contractual commitments primarily with respect to underwriting transactions, debt financing, revolving credit facilities, and syndications in KKR's Capital Markets business line. As of December 31, 2024, these capital markets commitments amounted to $0.7 billion. Whether these amounts are actually funded, in whole or in part, depends on the contractual terms of such capital markets commitments, including the satisfaction or waiver of any conditions to closing or funding. KKR's capital markets business has arrangements with third parties, which are expected to reduce KKR's risk under certain circumstances when underwriting certain debt transactions. As a result, our unfunded capital markets commitments as of December 31, 2024 have been reduced to reflect the amount expected to be funded by such third parties. As of December 31, 2024, KKR's capital markets business line has entered into such arrangements representing a total notional amount of $4.5 billion. Global Atlantic has commitments to purchase or fund investments of $3.1 billion as of December 31, 2024. These commitments include those related to mortgage loans, other lending facilities, and real assets. For those commitments that represent a contractual obligation to extend credit, Global Atlantic has recorded a liability of $14.9 million for current expected credit losses as of December 31, 2024. In addition, Global Atlantic has entered into certain forward flow agreements to purchase loans. Global Atlantic's obligations under these agreements are subject to change, curtailment, and cancellation based on various provisions including repricing mechanics, due diligence reviews, and performance or pool quality, among other factors. Global Atlantic has certain contingent funding obligations related to development-stage renewable energy projects in the amount of $329.7 million as of December 31, 2024, with expiration dates occurring between May 2025 and September 2027. For accounting purposes, these contingent funding obligations are considered guarantees of the obligations of the development-stage renewable energy projects. As of December 31, 2024, purchase commitments under agreements with third-party administrators and other service providers were as follows: 2025 $ 35,659 2026 31,329 2027 21,830 2028 12,537 2029 11,160 Thereafter 54,913 Total $ 167,428 Non-cancelable Operating Leases KKR's non-cancelable operating leases consist of leases of office space around the world. There are no material rent holidays, contingent rent, rent concessions, or leasehold improvement incentives associated with any of these property leases. In addition to base rentals, certain lease agreements are subject to escalation provisions and rent expense is recognized on a straight‑line basis over the term of the lease agreement. Global Atlantic also enters into land leases for its consolidated investments in renewable energy. As of December 31, 2024, the approximate aggregate future lease payments required on the asset management operating leases are as follows: 2025 $ 51,593 2026 80,012 2027 73,910 2028 70,413 2029 66,906 Thereafter 584,472 Total Lease Payments Required 927,306 Less: Imputed Interest 205,065 Total Operating Lease Liabilities $ 722,241 As of December 31, 2024, the approximate aggregate future lease payments required on the Global Atlantic operating leases are as follows: 2025 $ 18,699 2026 17,041 2027 17,056 2028 13,425 2029 12,091 Thereafter 289,301 Total Lease Payments Required 367,613 Less: Imputed Interest 182,066 Total Operating Lease Liabilities $ 185,547 Contingent Repayment Guarantees The partnership documents governing KKR's carry-paying investment funds and vehicles generally include a "clawback" provision that, if triggered, may give rise to a contingent obligation requiring the general partner to return amounts to the fund for distribution to the fund investors at the end of the life of the fund. Under a clawback obligation, upon the liquidation of a fund, the general partner is required to return, typically on an after-tax basis, previously distributed carry to the extent that, due to the diminished performance of later investments, the aggregate amount of carry distributions received by the general partner during the term of the fund exceed the amount to which the general partner was ultimately entitled, including the effects of any performance thresholds. KKR has guaranteed its general partners' clawback obligations. As of December 31, 2024, approximately $546 million of carried interest was subject to this clawback obligation, assuming that all applicable carry-paying funds and their alternative investment vehicles were liquidated at their December 31, 2024 fair values. Although KKR would be required to remit the entire amount to fund investors that are entitled to receive the clawback payment, KKR would be entitled to seek reimbursement of approximately $221 million of that amount from Associates Holdings, which is not a KKR subsidiary. As of December 31, 2024, Associates Holdings had access to cash reserves sufficient to reimburse the full $221 million that would be due to KKR. If the investments in all carry-paying funds were to be liquidated at zero value, a possibility that management views to be remote, the clawback obligation would have been approximately $4.7 billion as of December 31, 2024. KKR will acquire control of Associates Holdings when a subsidiary of KKR becomes its general partner upon the closing of the transactions contemplated to occur on the Sunset Date (as defined in Note 1 "Organization"), which will occur not later than December 31, 2026. Carried interest is recognized in the consolidated statements of operations based on the contractual conditions set forth in the agreements governing the fund as if the fund were terminated and liquidated at the reporting date and the fund's investments were realized at the then estimated fair values. Amounts earned pursuant to carried interest are earned by the general partner of those funds to the extent that cumulative investment returns are positive and where applicable, preferred return thresholds have been met. If these investment amounts earned decrease or turn negative in subsequent periods, recognized carried interest will be reversed and to the extent that the aggregate amount of carry distributions received by the general partner during the term of the fund exceed the amount to which the general partner was ultimately entitled, a clawback obligation would be recorded. For funds that are consolidated, this clawback obligation, if any, is reflected as an increase in noncontrolling interests in the consolidated statements of financial condition. For funds that are not consolidated, this clawback obligation, if any, is reflected as a reduction of KKR's investment balance as this is where carried interest is initially recorded. Indemnifications and Other Guarantees KKR may incur contingent liabilities for claims that may be made against it in the future. KKR enters into contracts that contain a variety of representations, warranties and covenants, including indemnifications. KKR (including KFN) and certain of KKR's investment funds have provided and provide certain credit support, such as indemnities and guarantees, relating to a variety of matters, including non-recourse carve-out guarantees for fraud, willful misconduct and other wrongful acts in connection with the financing of (i) certain real estate investments that we have made, including KKR's corporate real estate, and (ii) certain investment vehicles that KKR manages or sponsors. KKR also has provided, and provides, credit support in connection with its businesses, including: i. to certain of its subsidiaries' obligations in connection with a limited number of investment vehicles that KKR manages, ii. in connection with repayment and funding obligations to third-party lenders on behalf of certain employees, excluding its executive officers, in connection with their personal investments in KKR investment funds and a levered multi-asset investment vehicle, iii. to one of its hedge fund partnerships, iv. through a contingent guarantee of a subsidiary’s loan repayment obligations, which does not become effective unless and until its loan becomes accelerated due to certain specified events of default involving the investment vehicles managed by KJRM, v. the obligations of our subsidiaries' funding obligations to our investment vehicles, and vi. certain of our investment vehicles to fund or otherwise be liable for a portion of their investment losses and/or to provide them with liquidity upon certain termination events. In addition, KKR has agreed to tender to one of its consolidated investment vehicles up to a fixed number of shares that KKR owns in it if the net asset value of such shares is less than an agreed upon value on June 1, 2027. KKR may also become liable for certain fees payable to sellers of businesses or assets if a transaction does not close, subject to certain conditions, if any, specified in the acquisition agreements for such businesses or assets. In addition, the Global Atlantic business was formerly owned by The Goldman Sachs Group, Inc. (together with its subsidiaries, "Goldman Sachs"). In connection with the separation of Global Atlantic from Goldman Sachs in 2013, Global Atlantic entered into a tax benefit payment agreement with Goldman Sachs. Under the tax benefit payment agreement, GA FinCo is obligated to make annual payments out of available cash, guaranteed by GAFG, to Goldman Sachs over an approximately 25-year period. As of December 31, 2024, the present value of the remaining amount to be paid is $49.5 million. Although these payments are subordinated and deferrable, deferral of these payments would result in restrictions on distributions by GA FinCo and GAFG. Unless otherwise stated above, KKR's maximum exposure under the arrangements described under this section “—Indemnifications and Other Guarantees” are currently unknown as there are no stated or notional amounts included in these arrangements and KKR's liabilities for these matters would require a claim to be made against KKR in the future. Legal Proceedings From time to time, KKR (including Global Atlantic) is involved in various legal proceedings, requests for information, lawsuits, arbitration, and claims incidental to the conduct of KKR's businesses. KKR's businesses are also subject to extensive regulation, which may result in regulatory or other legal proceedings against them. Moreover, in the ordinary course of business, KKR is and can be the defendant or the plaintiff in numerous lawsuits with respect to acquisitions, bankruptcy, insolvency and other events. Such lawsuits may involve claims, or may be resolved on terms, that adversely affect the value of certain investments owned by KKR's funds and Global Atlantic's insurance companies. Kentucky Matter In December 2017, KKR & Co. L.P. (which is now KKR Group Co. Inc.) and its then Co-Chief Executive Officers, Henry Kravis and George Roberts, were named as defendants in a lawsuit filed in Kentucky state court (the “2017 Action”) alleging, among other things, the violation of fiduciary and other duties in connection with certain separately managed accounts that Prisma Capital Partners LP, a former subsidiary of KKR, manages for the Kentucky Retirement Systems. Also named as defendants in the lawsuit are certain current and former trustees and officers of the Kentucky Retirement Systems, Prisma Capital Partners LP, and various other service providers to the Kentucky Retirement Systems and their related persons. The 2017 Action was dismissed at the direction of the Supreme Court of Kentucky for lack of Kentucky constitutional standing. This dismissal became final on February 16, 2024. On July 21, 2020, the Office of the Attorney General, on behalf of the Commonwealth of Kentucky (the "Kentucky AG"), filed a new lawsuit in the same Kentucky state court (the “2020 AG Action”) making essentially the same allegations as those raised in the 2017 Action, including against what was then KKR & Co. Inc. (now KKR Group Co. Inc.) and Messrs. Kravis and Roberts. On May 1, 2024, the trial court denied motions to dismiss the 2020 AG Action filed by KKR & Co. Inc. and Messrs. Kravis and Roberts. On April 8, 2024, after receiving permission from the Kentucky trial court in the 2020 AG Action, the Kentucky AG amended its complaint in the 2020 AG Action to add a claim for breach of contract. The Kentucky AG also filed an action (the "2024 AG Action") substantially identical to the 2020 AG Action, including the new claim for breach of contract. On April 23, 2024, KKR & Co. Inc., Messrs. Kravis and Roberts and other defendants moved to strike the Kentucky AG's amended complaint in the 2020 AG Action, to stay consideration of the breach of contract claim and the 2024 AG Action until after the trial court's ruling on the motions to dismiss the 2020 AG Action, and to deny a motion by the Kentucky AG to consolidate the 2020 AG Action and the 2024 AG Action. These motions were denied, and the trial court consolidated the 2020 AG Action with the 2024 AG Action. On June 17, 2024, KKR & Co. Inc., Messrs. Kravis and Roberts and other defendants filed new motions to dismiss the consolidated 2020 AG Action and 2024 AG Action. In January 2021, some of the attorneys for the plaintiffs in the 2017 Action filed a new lawsuit on behalf of a new set of plaintiffs, who claim to be “Tier 3” members of Kentucky Retirement Systems (the “Tier 3 Plaintiffs”), alleging substantially the same allegations as in the 2017 Action. On July 9, 2021, the Tier 3 Plaintiffs served an amended complaint, which purports to assert, on behalf of a class of beneficiaries of Kentucky Retirement Systems, direct claims for breach of fiduciary duty and civil violations under the Racketeer Influenced and Corrupt Organizations Act (“RICO”). This complaint was removed to the U.S. District Court for the Eastern District of Kentucky, which has entered an order staying this case until the completion of the 2020 AG Action. On August 20, 2021, the Tier 3 Plaintiffs and other individual plaintiffs filed a second complaint in Kentucky state court (the “Second Tier 3 Action”), purportedly on behalf of Kentucky Retirement Systems’ funds, alleging the same claims against what was then KKR & Co. Inc. (now KKR Group Co. Inc.) and Messrs. Kravis and Roberts as in the July 9th amended complaint but without the RICO or class action allegations. On May 1, 2024, the trial court denied motions to dismiss the Second Tier 3 Action filed by KKR & Co. Inc. and Messrs. Kravis and Roberts. On July 3, 2024, KKR & Co. Inc., Messrs. Kravis and Roberts and other defendants filed a writ of prohibition asking the Kentucky Court of Appeals to order the trial court to dismiss the Second Tier 3 Action. The Second Tier 3 Action is stayed pending the outcome of this petition. On March 24, 2022, in a separate declaratory judgment action brought by the Commonwealth of Kentucky regarding the enforceability of certain indemnification provisions available to what was then KKR & Co. Inc. (now KKR Group Co. Inc.) and Prisma Capital Partners LP, the Kentucky state court concluded that it has personal jurisdiction over KKR & Co. Inc. in that action, and that the indemnification provisions violated the Kentucky Constitution and were therefore unenforceable. On December 1, 2023, the Kentucky Court of Appeals reversed the trial court’s summary judgment on the issue of personal jurisdiction over KKR & Co. Inc., but affirmed the trial court’s rulings that the indemnification provisions violated the Kentucky Constitution and were unenforceable. On February 5, 2024, the Kentucky Court of Appeals denied the petitions of KKR & Co. Inc. and others for rehearing. On April 8, 2024, KKR & Co. Inc. and other defendants in the declaratory judgment case filed motions with the Supreme Court of Kentucky for discretionary review of the Court of Appeals' December 1, 2023 decision. On August 14, 2024, the Kentucky Supreme Court granted discretionary review in the Kentucky AG’s declaratory judgment case of both personal jurisdiction over KKR & Co. Inc. and the enforceability and constitutionality of the indemnification provisions. On January 8, 2025, KKR, Messrs. Kravis and Roberts, Prisma Capital Partners L.P., and certain other defendants entered into an agreement with the Commonwealth of Kentucky, Kentucky Public Pensions Authority, County Employees Retirement System and Kentucky Retirement Systems (the “KPPA Entities”) to settle the 2020 AG Action and the 2024 AG Action. If the settlement is approved by the court, the defendants must collectively deposit the settlement recovery of $227.5 million into an agreed escrow account, minus a dollar-for-dollar credit in the amount of the remaining funds and assets held in the Daniel Boone Fund reserve which is controlled by defendant Prisma Capital Partners L.P.; currently the Daniel Boone Fund reserve totals approximately $145 million. If the following conditions are met, the escrow account will be terminated, the Daniel Boone Fund reserve will be delivered to the KPPA Entities, and all claims in connection with the investments and related matters against KKR, Messrs. Kravis and Roberts, Prisma Capital Partners L.P., and the other defendants that are party to the settlement agreement will be dismissed: (1) the approval of the settlement becomes final and non-appealable, and (2) either (i) there is a final ruling that all claims currently pending against the defendants in the Second Tier 3 Action are dismissed with prejudice and the dismissal is final and non-appealable or (ii) there is a final ruling that the Tier 3 Plaintiffs do not have standing or otherwise lack legal authority to continue pursuing claims against the defendants or their related parties for collective, plan-wide, trust-wide, system-wide, pension fund-wide, tier-wide relief, or relief on behalf of or for the KPPA Entities. KKR, Messrs. Kravis and Roberts, Prisma Capital Partners L.P., and the other defendants that are party to the settlement deny any liability, wrongdoing, or damage, maintain that the settlement is not an admission of any fault, liability, wrongdoing or damage, and maintain that they have entered into the settlement solely to avoid further legal expense, inconvenience, and the distraction of burdensome and protracted litigation. Until such time as the settlement becomes final, KKR intends to continue to vigorously defend against all claims against KKR and Messrs. Kravis and Roberts. Shareholder Derivative Litigation On July 30, 2024, a shareholder derivative complaint was filed in Delaware Chancery Court and was subsequently amended on August 7, 2024. The amended complaint claims, among other matters, that the Co-Founders and various current and former executive officers and directors of KKR & Co. Inc. breached fiduciary duties and wasted corporate assets in connection with transactions contemplated by the Reorganization Agreement pursuant to which, among other things, the Co-Founders, certain current and former executive officers, and other senior executives of KKR received common stock from KKR. The suit seeks to recover on behalf of KKR & Co. Inc. a cancellation of shares issued in the reorganization, monetary damages, injunctive relief, restitution, and other remedies. KKR & Co. Inc. filed a motion to dismiss the amended complaint on December 19, 2024. Regulatory Matters KKR currently is, and expects to continue to become from time to time, subject to various examinations, inquiries and investigations by various U.S. and non-U.S. governmental and regulatory agencies. Such examinations, inquiries and investigations may result in the commencement of civil, criminal or administrative proceedings, or the imposition of fines, penalties, or other remedies, against KKR and its personnel. KKR is subject to periodic examinations of its regulated businesses by various U.S. and non-U.S. governmental and regulatory agencies, including but not limited to the Securities and Exchange Commission ("SEC"), Financial Industry Regulatory Authority ("FINRA"), the U.K. Financial Conduct Authority, Central Bank of Ireland, Monetary Authority of Singapore, U.S. state insurance regulatory authorities, and the Bermuda Monetary Authority. KKR may also become subject to inquiries or investigations (through a request for information, civil investigative demand, subpoena or otherwise) by any of the foregoing governmental and regulatory agencies as well as by any other U.S. or non-U.S. governmental or regulatory agency, including but not limited to the SEC, U.S. Department of Justice ("DOJ"), U.S. state attorney generals, and similar non-U.S. governmental or regulatory agencies. KKR has been subject to investigations by the Antitrust Division of the DOJ (the “DOJ”) related to the accuracy and completeness of certain filings made by KKR pursuant to the premerger notification requirements under the Hart‐Scott‐Rodino Act of 1976 (“HSR”) for certain transactions in 2021 and 2022. Since 2022, KKR was cooperating with the DOJ in connection with these investigations and has engaged in discussions with the DOJ about possible resolution of these investigations. On January 14, 2025, the DOJ filed a civil antitrust complaint (the “DOJ Complaint”) in the U.S. District Court for the Southern District of New York against KKR and various KKR-sponsored investment entities (the “KKR Defendants”) alleging violations of the HSR Act. The DOJ Complaint requests various relief for the alleged violations of the HSR Act by the KKR Defendants, including civil penalties in an amount to be determined and various equitable relief, including potential disgorgement and injunctive relief against future violations of the HSR Act. On January 14, 2025, KKR filed a complaint (the “KKR Complaint”) in the U.S. District Court for the District of Columbia against Doha Mekki in her official capacity as Acting Assistant Attorney General of the United States for the Antitrust Division, the DOJ, the Federal Trade Commission (“FTC”), and the United States of America pertaining to the HSR-related investigations conducted by the DOJ. On January 16, 2025, KKR voluntarily dismissed the KKR Complaint filed in the U.S. District Court for the District of Columbia and re-filed it in the U.S. District Court for the Southern District of New York as related to the DOJ Complaint. The KKR Complaint requests various forms of relief, including declaratory judgments that: (i) KKR did not violate the HSR Act; (ii) the DOJ’s and FTC’s interpretations of the HSR Act are unconstitutionally vague; and (iii) the DOJ seeks an excessive fine in violation of the U.S. Constitution. KKR intends to vigorously defend against the DOJ Complaint and prosecute the KKR Complaint. The DOJ may initiate additional civil or criminal proceedings or take other actions against KKR, its employees or portfolio companies, which could include further antitrust investigations into past HSR filings or transactions or other purported violations of antitrust law. There can be no certainty as to the possible outcome of the DOJ Complaint, the KKR Complaint, or such other proceedings or other actions, any of which could result in a range of adverse financial and non‐financial consequences to KKR. Even in the event that the parties are able to settle the pending litigation, it is possible that any such settlement could involve significant monetary penalties and/or other possible remedial measures. In addition, KKR is currently subject to other investigations by the Antitrust Division of the DOJ related to antitrust matters, including restrictions on interlocking directorates under Section 8 of the Clayton Act. KKR is currently cooperating with the DOJ in connection with these other investigations. On January 13, 2025, KKR entered into a settlement with the SEC to resolve the SEC’s investigation related to the preservation of text messages and similar communications on electronic messaging applications under the Investment Advisers Act of 1940 (the “Advisers Act”). Under the terms of the settlement, among other things, KKR paid a civil penalty of $11.0 million, made certain admissions about recordkeeping violations under the Advisers Act, and agreed, among other things, to conduct a self-assessment of KKR’s compliance with its policies and procedures to preserve electronic communications. Loss Contingencies KKR establishes an accrued liability for legal or regulatory proceedings only when those matters present loss contingencies that are both probable and reasonably estimable. KKR includes in its financial statements the amount of any reserve for regulatory, litigation and related matters that Global Atlantic includes in its financial statements. No loss contingency is recorded for matters where such losses are either not probable or reasonably estimable (or both) at the time of determination. Such matters also have the possibility of resulting in losses in excess of any amounts accrued. To the extent KKR can in any particular period estimate an aggregate range of reasonably possible losses, these decisions involve significant judgment given that it is inherently difficult to determine whether any loss for a matter is probable or even possible or to estimate the amount of any loss in many legal, governmental and regulatory matters. Estimating an accrued liability or a reasonably possible loss involves significant judgment due to many uncertainties, including among others: (i) the proceeding may be in early stages; (ii) damages sought may be unspecified, unsupportable, unexplained or uncertain; (iii) discovery may not have been started or is incomplete; (iv) there may be uncertainty as to the outcome of pending appeals or motions; (v) there may be significant factual issues to be resolved; (vi) there may be novel legal issues or unsettled legal theories to be presented or a large number of parties; or (vii) the proceeding relates to a regulatory examination, inquiry, or investigation. It is not possible to predict the ultimate outcome of all pending litigations, arbitrations, claims, and governmental or regulatory examinations, inquiries, investigations and proceedings, and some of the matters discussed above seek or may seek potentially large or indeterminate relief. Consequently, management is unable as of the date of filing of this report to estimate an amount or range of reasonably possible losses related to matters pending against KKR. In addition, any amounts accrued as loss contingencies or disclosed as reasonably possible losses may be, in part or in whole, subject to insurance or other payments such as contributions and indemnity, which may reduce any ultimate loss. As of the date of filing this report, management does not believe, based on currently available information, that the outcomes of the matters pending against KKR will have a material adverse effect upon its financial statements. However, given the potentially large and/or indeterminate relief sought or that may be sought in certain of these matters and the inherent unpredictability of litigations, arbitrations, claims, and governmental or regulatory examinations, inquiries, investigations and proceedings, it is possible that an adverse outcome in certain matters could have a material adverse effect on KKR's financial results in any future period. In addition, there can be no assurance that material losses will not be incurred from claims that have not yet been asserted or those where potential losses have not yet been determined to be probable or possible and reasonably estimable. Other Financing Arrangements Global Atlantic has financing arrangements with unaffiliated third parties to support the reserves of its affiliated special purpose reinsurers. Total fees associated with these financing arrangements were $17.9 million, $20.3 million, and $20.1 million for the years ended December 31, 2024, 2023, and 2022, respectively, and are included in insurance expenses in the consolidated statements of operations. As of December 31, 2024 and 2023, the total capacity of the financing arrangements with third parties was $2.4 billion and $2.3 billion, respectively. Other than the matters disclosed above, there were no outstanding or unpaid balances from the financing arrangements with unaffiliated third parties as of both December 31, 2024 and 2023.

CAPITAL & REGULATORY REQUIREMEN

CAPITAL & REGULATORY REQUIREMENTS	12 Months Ended
	Dec. 31, 2024
CAPITAL AND REGULATORY REQUIREMENTS
CAPITAL & REGULATORY REQUIREMENTS	CAPITAL & REGULATORY REQUIREMENTS Insurance subsidiary capital requirements All of our Global Atlantic insurance companies are subject to minimum capital and surplus requirements. Insurance companies typically operate in excess of such requirements. Failure to maintain such minimum capital will result in regulatory actions, including in certain circumstances regulatory takeover of the insurance company. In the United States, our Global Atlantic's insurance companies are subject to risk based capital ("RBC") standards and other minimum capital and surplus requirements imposed by state laws. The RBC formula is intended to measure the adequacy of the insurance company’s statutory surplus in relation to the risks inherent in its business. The RBC formula requires higher surplus in relation to items deemed to have higher risk. Regulatory action is triggered beginning at 200% RBC and below. Our Global Atlantic Bermuda insurance companies are subject to Bermuda Solvency Capital Requirements ("BSCR") standards and other minimum capital and surplus requirements imposed by the BMA. The BMA expects that insurers operate at or above a BSCR ratio of at least 120%. Each of our Global Atlantic insurance companies exceeded the minimum requirements that would trigger regulatory action for all periods presented in this report. Insurance subsidiary dividend restrictions Payments of dividends by our U.S. and Bermuda-domiciled insurance companies are restricted by insurance statutes and regulations. Our ability to pay dividends out of our U.S.-domiciled insurance companies is limited to the dividend paying capacity of Global Atlantic's indirect insurance subsidiary, Commonwealth Annuity and Life Insurance Company (“Commonwealth”). Commonwealth has negative unassigned surplus, and while it remains so, Commonwealth must obtain written approval from the Massachusetts Division of Insurance prior to the payment of any dividend or distribution. Without prior regulatory approval, and subject to maintaining certain solvency requirements, our U.S. and Bermuda insurance subsidiaries, may declare ordinary dividends or distributions to their holding companies during 2025, as follows: Ordinary dividend and distribution capacity ($ in thousands) U.S. domiciled Commonwealth Annuity and Life Insurance Company None Bermuda domiciled Global Atlantic Re Limited $ 1,354,945 Shareholders’ equity of our principal U.S.-domiciled insurance subsidiary, Commonwealth Annuity and Life Insurance Company, determined pursuant to statutory accounting rules was approximately $6.2 billion and $4.3 billion as of December 31, 2024 and 2023, respectively. Statutory surplus computed under those methodologies differ from equity reported in accordance with U.S. GAAP primarily because fixed maturity securities are required to be carried at cost or amortized cost, embedded derivatives on funds withheld reinsurance balances are not recognized, policy acquisition costs are expensed when incurred and asset valuation, and interest maintenance reserves are required to be held. Life insurance reserves are calculated based upon different assumptions and the recognition of deferred tax assets is based on different recoverability assumptions. Shareholders’ equity of our Bermuda-domiciled insurance subsidiary, Global Atlantic Re Limited, determined pursuant to statutory accounting rules was approximately $4.2 billion and $3.4 billion as of December 31, 2024 and 2023, respectively. Bermuda reinsurers file statutory financial statements with the Bermuda Monetary Authority (the "BMA") that may differ from U.S. GAAP. For example, Bermuda statutory surplus differs from U.S. GAAP primarily due to a modification that permits our Bermuda insurance subsidiary to not measure the embedded derivative included within certain funds withheld coinsurance agreements at fair value.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS A dividend of $0.175 per share of common stock of KKR & Co. Inc. has been declared and was announced on February 4, 2025. This dividend will be paid on February 28, 2025 to common stockholders of record as of the close of business on February 14, 2025. Additionally, beginning with the dividend to be announced with the results of the quarter ending March 31, 2025, KKR intends to increase its regular annualized dividend per share of common stock from $0.70 to $0.74. On February 4, 2025, KKR announced that it has arrangements in place to increase its ownership interests in certain core private equity businesses within its Strategic Holdings segment by approximately $1.1 billion. The acquisition of these stakes are anticipated to be completed in the first half of 2025, material portions of which are subject to the satisfaction or waiver of conditions prior to their completion. There can be no assurance that all of the acquisitions will close as contemplated.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS Valuation Allowance for Deferred Tax Assets (in thousands) Asset Management and Strategic Holdings Balance at Beginning of Period Tax Valuation Allowance (Charged) /Credited to Income Tax Provision Tax Valuation Allowance (Charged) / Credited to Balance Sheet Balance at End of Period Year Ended: December 31, 2022 $ (23,082) $ — $ 23,082 (1) $ — December 31, 2023 $ — $ — $ — $ — December 31, 2024 $ — $ — $ — $ — (1) A valuation allowance was recorded for deferred tax assets related to foreign loss carryforwards that were not considered to be more likely than not realized prior to their expiration. These deferred taxes and associated valuation allowances were reversed in 2022 as a result of a deconsolidation transaction. Insurance Balance at Beginning of Period Tax Valuation Allowance (Charged) /Credited to Income Tax Provision Tax Valuation Allowance (Charged) / Credited to Balance Sheet Balance at End of Period Year Ended: December 31, 2022 $ — $ — $ (89,250) (2) $ (89,250) December 31, 2023 $ (89,250) $ — $ — $ (89,250) December 31, 2024 $ (89,250) $ 67,147 $ (14,830) (3) $ (36,933) (2) In 2022, a valuation allowance was recorded for deferred tax assets related to unrealized tax capital losses that were at the time not considered to be more likely than not to be realized prior to their expiration. In 2024, based on a change in judgment, Global Atlantic concluded that it had the ability to utilize realized capital loss carryforwards prior to their expiration, and to recover its unrealized losses in the available for sale securities portfolio. As a result, Global Atlantic concluded that it was more likely than not that the related deferred tax assets would be wholly realizable, and consequently released the previously recorded valuation allowance recorded against its deferred income tax assets. (3) On January 2, 2024, Global Atlantic became subject to Bermuda CIT and resulted in the establishment of a $22.1 million deferred tax asset, primarily on available-for-sale securities, which was offset by a full valuation allowance. As of December 31, 2024, a valuation allowance of $36.9 million was recorded on the deferred tax assets associated with Bermuda CIT. Insurance Year Ended December 31, 2024 Additions Balance at Beginning of Period Charged to Costs and Expenses Assumed Recoveries Deductions Charge-off Balance at End of Period Reserves Deducted from Assets to Which They Apply: Credit Loss Allowance on Available-for-sale Securities $ 268,712 $ 115,367 $ 611 $ — $ (20,466) $ (88,902) $ 275,322 Credit Loss Allowance on Loans 602,443 305,770 — 28,773 — (322,578) 614,408 Credit Loss Allowance on Unfunded Commitments and Letters of Credit 49,432 (30,639) — — — — 18,793 Credit Loss Allowance on Reinsurance Recoverables 21,049 (4,681) — — — — 16,368 Year Ended December 31, 2023 Additions Balance at Beginning of Period Charged to Costs and Expenses Assumed Recoveries Deductions Charge-off Balance at End of Period Reserves Deducted from Assets to Which They Apply: Credit Loss Allowance on Available-for-sale Securities $ 128,332 $ 168,899 $ 1,191 $ — $ (16,063) $ (13,647) $ 268,712 Credit Loss Allowance on Loans 560,228 210,704 — 21,768 — (190,257) 602,443 Credit Loss Allowance on Unfunded Commitments 55,786 (6,354) — — — — 49,432 Credit Loss Allowance on Reinsurance Recoverables 41,163 (20,114) — — — — 21,049 Year Ended December 31, 2022 Additions Balance at Beginning of Period Charged to Costs and Expenses Assumed Recoveries Deductions Charge-off Balance at End of Period Reserves Deducted from Assets to Which They Apply: Credit Loss Allowance on Available-for-sale Securities $ 88,133 $ 57,411 $ 2,554 $ — $ (11,925) $ (7,841) $ 128,332 Credit Loss Allowance on Loans 374,077 369,296 — — — (183,145) 560,228 Credit Loss Allowance on Unfunded Commitments 21,675 34,111 — — — — 55,786 Credit Loss Allowance on Reinsurance Recoverables 8,386 32,777 — — — — 41,163

SCHEDULE IV - REINSURANCE

SCHEDULE IV - REINSURANCE	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SCHEDULE IV - REINSURANCE	SCHEDULE IV—REINSURANCE As of December 31, 2024 Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net ($ in thousands) Life Insurance In-force $ 75,603,581 $ (57,446,060) $ 43,934,822 $ 62,092,343 71 % Premiums and Other Considerations: Premiums $ 642,803 $ (4,659,566) $ 11,915,597 $ 7,898,834 151 % Policy Fees $ 917,684 $ (651,996) $ 1,111,998 $ 1,377,686 81 % As of December 31, 2023 Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net ($ in thousands) Life Insurance In-force $ 81,531,659 $ (69,253,317) $ 45,073,052 $ 57,351,394 79 % Premiums and Other Considerations: Premiums $ 118,535 $ (2,281,618) $ 4,138,758 $ 1,975,675 209 % Policy Fees $ 912,931 $ (94,767) $ 442,085 $ 1,260,249 35 % As of December 31, 2022 Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net ($ in thousands) Life Insurance In-force $ 87,800,041 $ (50,258,155) $ 20,664,894 $ 58,206,780 36 % Premiums and Other Considerations: Premiums $ 111,602 $ (1,342,375) $ 2,413,234 $ 1,182,461 204 % Policy Fees $ 950,702 $ (17,509) $ 328,528 $ 1,261,721 26 %

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to KKR & Co. Inc.	$ 3,076,245	$ 3,732,261	$ (521,664)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	KKR’s asset management business has a cybersecurity incident response plan, which was developed taking into account industry standard guidance provided by institutes such as the National Institute of Standards and Technology. This plan is a key component of the cybersecurity program, which is generally incorporated within our enterprise risk management framework. The KKR CISO and KKR’s Chief Compliance Officer co-chair a cybersecurity incident response team (“KKR CIRT”), which aims to manage and mitigate the risk and impact of cybersecurity breach events at KKR’s asset management business, including those arising from third-party service providers, including those providers that have access to KKR’s customer and employee data. Cybersecurity considerations affect the selection and oversight of our third-party service providers. We perform cybersecurity-related diligence on third parties that have access to our systems, data or facilities. In addition to the KKR CISO and our Chief Compliance Officer, the KKR CIRT includes members of the firm’s legal, technology, compliance, risk, public affairs, human capital and finance groups. KKR has established a notification decision framework to determine when the KKR CIRT will provide notifications regarding certain cybersecurity incidents, with different severity thresholds triggering notifications to different recipient groups, including the Risk and Operations Committee, senior members of management, and our Board of Directors or its committees. The KKR information security team undertakes a variety of measures to monitor and manage the cybersecurity risks of KKR’s asset management business. Our technology platforms and applications are designed to enable us to monitor user and network behavior at KKR’s asset management business, identify threats using certain analytics, and mitigate attacks across various layers of the enterprise. The KKR information security team conducts regular internal and external audits with third-party cybersecurity experts to identify and evaluate potential weaknesses in our cybersecurity systems. In addition, the KKR information security team conducts periodic phishing simulations, as well as periodic employee training on KKR’s security policies and controls and provides other security trainings as part of new employee onboarding. KKR also has a cybersecurity incident response plan that is specific to our insurance business. The plan sets forth the roles and responsibilities of the Global Atlantic incident response team, which is comprised of Global Atlantic employees representing key business functions at our insurance business and is overseen by the Global Atlantic CISO. Global Atlantic utilizes several mechanisms to monitor and manage the cybersecurity risks of our insurance business, including to prevent, and prepare to respond to, an incident. This includes maintaining relationships with external incident response organizations, performing periodic cybersecurity risk assessments, overseeing and monitoring risks from cybersecurity threats associated with third-party service providers, and ensuring that Global Atlantic employees complete security awareness training relating to cybersecurity best practices. Global Atlantic also has a cybersecurity notification framework in place to determine when appropriate notifications and escalations are required to be provided to senior members of Global Atlantic’s management, members of Global Atlantic’s board of directors and members of KKR’s Risk and Operations Committee, certain members of which would, as appropriate, report such information to our Board of Directors or its Audit Committee or Risk Committee. As of the date of this filing, we do not believe that our business strategy, results of operations or financial conditions have been materially affected by any cybersecurity incidents for the period covered by this report. However, institutions like us, as well as our employees, service providers and other third parties, have experienced information security and cybersecurity attacks in the past and will likely continue to be the target of increasingly sophisticated cyber actors. For a discussion of how risks from cybersecurity threats may affect us, see "Part 1 Item 1A. Risk Factors—"Risks Related to Our Business—Cybersecurity failures and data security breaches may disrupt or have a material adverse impact on our businesses, operations and investments.”
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	KKR’s asset management business has a cybersecurity incident response plan, which was developed taking into account industry standard guidance provided by institutes such as the National Institute of Standards and Technology. This plan is a key component of the cybersecurity program, which is generally incorporated within our enterprise risk management framework. The KKR CISO and KKR’s Chief Compliance Officer co-chair a cybersecurity incident response team (“KKR CIRT”), which aims to manage and mitigate the risk and impact of cybersecurity breach events at KKR’s asset management business, including those arising from third-party service providers, including those providers that have access to KKR’s customer and employee data. Cybersecurity considerations affect the selection and oversight of our third-party service providers. We perform cybersecurity-related diligence on third parties that have access to our systems, data or facilities.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	KKR’s Chief Information Security Officer (the “KKR CISO”) leads an information security team (the “KKR information security team”) whose responsibilities include securing data from unauthorized use or access. The cybersecurity strategy and program at KKR’s asset management business includes, among other things, annual employee training about cybersecurity risks and new employee onboarding about KKR’s security policies. Prior to joining KKR, KKR’s CISO was the CISO at another large financial institution where he was responsible for their global information security program. KKR’s CISO also has prior experience in various information security roles, including security architecture, application security, engineering and operations. He holds a Bachelor of Science in computer science from the New York University Polytechnic School of Engineering, is a Certified Information Systems Security Professional (CISSP) and holds a Series 99 – Operations Professional Exam certification. The KKR CISO is a member of the firm’s Operational Risk Committee. The Operational Risk Committee is comprised of senior employees from across our asset management business and operating functions. The committee focuses on significant operating and business risks, which includes among others, regulatory, cybersecurity, operational, geopolitical, and reputational risks, and is responsible for ensuring risks are identified, assessed, managed and mitigated effectively. The cybersecurity risk environment for KKR’s asset management business, which includes identifying and monitoring KKR’s technology risks, including those related to information security, business disruption, fraud and privacy related risks, and also promoting cybersecurity awareness at the firm. The Operational Risk Committee reports to KKR’s Risk and Operations Committee, which is comprised of senior employees from across our asset management and insurance businesses and operating functions. KKR's Risk and Operations Committee includes our Chief Financial Officer, Chief Operating Officer, Chief Legal Officer and General Counsel, Chief Compliance Officer. At least annually, management will present to the Audit Committee and the Risk Committee of our Board of Directors on various topics relating to KKR's technology risks, including KKR’s cybersecurity program, the current cybersecurity threat landscape, and risk management. KKR also has a Chief Information Security Officer dedicated to our insurance business (the “Global Atlantic CISO”), who has more than 20 years of experience in various information security and technology roles. The Global Atlantic CISO leads an information security team that is focused on overseeing the cybersecurity strategy and program for Global Atlantic, which includes, among other things, annual employee training about cybersecurity risks and new employee onboarding about Global Atlantic’s security policies. The Global Atlantic CISO reports at least annually to the operations & technology committee of Global Atlantic’s board of directors (whose members include non-executive directors unaffiliated with KKR) and members of KKR’s Risk and Operations Committee. The Global Atlantic CISO also provides ad hoc reporting to Global Atlantic’s management-level committees and Global Atlantic’s board of directors and its risk committee. Material information regarding information security affecting our insurance business is also reported to KKR’s Risk and Operations Committee and to the Audit Committee or Risk Committee of KKR’s Board of Directors.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	KKR’s Chief Information Security Officer (the “KKR CISO”) leads an information security team (the “KKR information security team”) whose responsibilities include securing data from unauthorized use or access. The cybersecurity strategy and program at KKR’s asset management business includes, among other things, annual employee training about cybersecurity risks and new employee onboarding about KKR’s security policies.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Prior to joining KKR, KKR’s CISO was the CISO at another large financial institution where he was responsible for their global information security program. KKR’s CISO also has prior experience in various information security roles, including security architecture, application security, engineering and operations. He holds a Bachelor of Science in computer science from the New York University Polytechnic School of Engineering, is a Certified Information Systems Security Professional (CISSP) and holds a Series 99 – Operations Professional Exam certification.
Cybersecurity Risk Role of Management [Text Block]	KKR also has a Chief Information Security Officer dedicated to our insurance business (the “Global Atlantic CISO”), who has more than 20 years of experience in various information security and technology roles. The Global Atlantic CISO leads an information security team that is focused on overseeing the cybersecurity strategy and program for Global Atlantic, which includes, among other things, annual employee training about cybersecurity risks and new employee onboarding about Global Atlantic’s security policies. The Global Atlantic CISO reports at least annually to the operations & technology committee of Global Atlantic’s board of directors (whose members include non-executive directors unaffiliated with KKR) and members of KKR’s Risk and Operations Committee. The Global Atlantic CISO also provides ad hoc reporting to Global Atlantic’s management-level committees and Global Atlantic’s board of directors and its risk committee. Material information regarding information security affecting our insurance business is also reported to KKR’s Risk and Operations Committee and to the Audit Committee or Risk Committee of KKR’s Board of Directors.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The KKR CISO is a member of the firm’s Operational Risk Committee. The Operational Risk Committee is comprised of senior employees from across our asset management business and operating functions. The committee focuses on significant operating and business risks, which includes among others, regulatory, cybersecurity, operational, geopolitical, and reputational risks, and is responsible for ensuring risks are identified, assessed, managed and mitigated effectively. The cybersecurity risk environment for KKR’s asset management business, which includes identifying and monitoring KKR’s technology risks, including those related to information security, business disruption, fraud and privacy related risks, and also promoting cybersecurity awareness at the firm. The Operational Risk Committee reports to KKR’s Risk and Operations Committee, which is comprised of senior employees from across our asset management and insurance businesses and operating functions. KKR's Risk and Operations Committee includes our Chief Financial Officer, Chief Operating Officer, Chief Legal Officer and General Counsel, Chief Compliance Officer.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Prior to joining KKR, KKR’s CISO was the CISO at another large financial institution where he was responsible for their global information security program. KKR’s CISO also has prior experience in various information security roles, including security architecture, application security, engineering and operations. He holds a Bachelor of Science in computer science from the New York University Polytechnic School of Engineering, is a Certified Information Systems Security Professional (CISSP) and holds a Series 99 – Operations Professional Exam certification.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	At least annually, management will present to the Audit Committee and the Risk Committee of our Board of Directors on various topics relating to KKR's technology risks, including KKR’s cybersecurity program, the current cybersecurity threat landscape, and risk management.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements (referred to hereafter as the "financial statements") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). KKR consolidates the financial results of KKR Group Partnership and its consolidated entities, which include the accounts of KKR's investment management and capital markets companies, the general partners of certain unconsolidated investment funds, general partners of consolidated investment funds, and their respective consolidated investment funds, Global Atlantic’s insurance companies, and certain other entities including CFEs. References to Global Atlantic hereafter includes the insurance companies of Global Atlantic, which are consolidated by KKR starting on February 1, 2021 (the "2021 GA Acquisition Date"). The presentations in the consolidated statement of financial condition and consolidated statement of operations reflect the significant industry diversification of KKR by its acquisition of Global Atlantic. Global Atlantic operates an insurance business, and KKR operates an asset management business, which manages the operations of the newly-formed Strategic Holdings segment (see Note 21 "Segment Reporting"), each of which possess distinct characteristics. As a result, KKR developed a two-tiered approach for the financial statements presentation, where Global Atlantic's insurance operations are presented separately from KKR's asset management business. KKR believes that these separate presentations provide a more informative view of the consolidated financial position and results of operations than traditional aggregated presentations and that reporting Global Atlantic’s insurance operations separately is appropriate given, among other factors, the relative significance of Global Atlantic’s policy liabilities, which are not obligations of KKR & Co. Inc. (other than the insurance companies that issued them). If a traditional aggregate presentation were to be used, KKR would expect to eliminate or combine several identical or similar captions, which would condense the presentations, but would also reduce the level of information presented. KKR also believes that using a traditional aggregate presentation would result in no new line items compared to the two-tier presentation included in the financial statements in this report. The summary of the significant accounting policies has been organized considering the two-tiered approach and includes a section for common accounting policies and an accounting policy section for each of the two tiers when a policy is specific to one of the tiers. In the ordinary course of business, KKR’s Asset Management business, Strategic Holdings business, and Insurance business enter into transactions with each other, which may include transactions pursuant to their investment management agreements and certain financing arrangements. The borrowings from these financing arrangements are non-recourse to KKR beyond the assets designated to support such borrowings. All of the investment management and financing arrangements amongst KKR segments are eliminated in consolidation. All intercompany transactions and balances have been eliminated.
Use of Estimates and Risks and Uncertainties	Use of Estimates and Risks and Uncertainties The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the recognition and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, expenses, investment income (loss), and income taxes during the reporting periods. Such estimates include but are not limited to (i) the valuation of investments and financial instruments, (ii) the determination of the income tax provision, (iii) the impairment of goodwill and intangible assets, (iv) the impairment of available-for-sale investments, (v) the valuation of insurance policy liabilities, including market risk benefits, (vi) the valuation of embedded derivatives in policy liabilities and funds withheld, (vii) the determination of the allowance for loan losses, and (viii) amortization of deferred revenues and expenses associated with the insurance business.
Principles of Consolidation	Principles of Consolidation The types of entities KKR assesses for consolidation include (i) subsidiaries, including management companies, broker-dealers and general partners of investment funds that KKR manages, (ii) entities that have the attributes of an investment company, like investment funds, (iii) CFEs, (iv) Global Atlantic and its insurance companies, and (v) other entities. Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity. Pursuant to its consolidation policy, KKR first considers whether an entity is considered a VIE and therefore whether to apply the consolidation guidance under the VIE model. Entities that do not qualify as VIEs are assessed for consolidation as voting interest entities ("VOEs") under the voting interest model. Most of KKR's investment funds are categorized as VIEs. KKR's funds are, for GAAP purposes, investment companies and therefore are not required to consolidate their investments in portfolio companies even if majority-owned and controlled. Rather, the consolidated funds and vehicles reflect their investments at fair value as described below in "—Fair Value Measurements." An entity in which KKR holds a variable interest is a VIE if any one of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, (b) the holders of the equity investment at risk (as a group) lack either the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity's activities that have a significant effect on the success of the legal entity or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the legal entity, their rights to receive the expected residual returns of the legal entity, or both and substantially all of the legal entity's activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. Limited partnerships and other similar entities where unaffiliated limited partners have not been granted (i) substantive participatory rights or (ii) substantive rights to either dissolve the partnership or remove the general partner ("kick-out rights") are VIEs. KKR's investment funds (i) are generally limited partnerships, (ii) generally provide KKR with operational discretion and control, and (iii) generally have fund investors with no substantive rights to impact ongoing governance and operating activities of the fund, including the ability to remove the general partner, and, as such, the limited partners do not have kick-out rights. KKR consolidates all VIEs in which it is the primary beneficiary. A reporting entity is determined to be the primary beneficiary if it holds a controlling financial interest in a VIE. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (i) whether an entity in which KKR holds a variable interest is a VIE and (ii) whether KKR's involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (for example, management and performance income), would give it a controlling financial interest. Performance of that analysis requires the exercise of judgment. Fees earned by KKR that are customary and commensurate with the level of effort required to provide those services, and where KKR does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered to be variable interests. KKR factors in all economic interests including interests held through related parties, to determine if it holds a variable interest. KKR determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion when facts and circumstances change. For entities that are determined not to be VIEs, these entities are generally considered VOEs and are evaluated under the voting interest model. KKR consolidates VOEs it controls through a majority voting interest or through other means. The consolidation assessment, including the determination as to whether an entity qualifies as a VIE or VOE, depends on the facts and circumstances for each entity, and therefore certain of KKR's investment funds may qualify as VIEs whereas others may qualify as VOEs. With respect to CLOs (which are generally VIEs), in KKR's role as collateral manager, KKR generally has the power to direct the activities of the CLO that most significantly impact the economic performance of the entity. In some, but not all cases, KKR, through its residual interest in the CLO may have variable interests that represent an obligation to absorb losses of, or a right to receive benefits from, the CLO that could potentially be significant to the CLO. In cases where KKR has both the power to direct the activities of the CLO that most significantly impact the CLO's economic performance and the obligation to absorb losses of the CLO or the right to receive benefits from the CLO that could potentially be significant to the CLO, KKR is deemed to be the primary beneficiary and consolidates the CLO. Global Atlantic has formed certain VIEs to hold investments, including investments in real assets, consumer and other loans and fixed maturity securities. These VIEs issue beneficial interests primarily to Global Atlantic’s insurance companies, and Global Atlantic maintains the power to direct the activities of the VIEs that most significantly impact their economic performance and bears the obligation to absorb losses or receive benefits from the VIEs that could potentially be significant. Accordingly, Global Atlantic is the primary beneficiary of these VIEs, which are consolidated in Global Atlantic’s results. For certain consolidated renewable energy partnerships consolidated by Global Atlantic's insurance companies, Global Atlantic uses a hypothetical liquidation at book value ("HLBV") method to allocate income and cash flows based on third-party investors’ claim to net assets, including those for the noncontrolling interests and redeemable noncontrolling interests. KKR classifies certain noncontrolling interests with redemption features that are not solely within the control of KKR outside of permanent equity on its consolidated statements of financial condition. These redeemable noncontrolling interests are reported using the greater of the carrying value at each reporting date as determined by the HLBV method or the estimated redemption value in each reporting period. Noncontrolling Interests Noncontrolling interests in consolidated entities of KKR represent the non-redeemable ownership interests that are held primarily by: (i) third party fund investors in KKR's consolidated funds and certain other entities; (ii) third parties in KKR's Capital Markets business line; (iii) certain current and former employees who hold exchangeable securities; and (iv) certain third-party investors in certain of Global Atlantic's consolidated entities. For further details see Note 22 "Equity." Noncontrolling interests held by KKR Holdings before the closing of the Reorganization Mergers are described in Note 1 "Organization."
Cash and Cash Equivalents	Cash and Cash Equivalents Generally KKR considers all liquid short‑term investments with original maturities of three months or less when purchased to be cash equivalents. Cash and cash equivalents includes cash held at consolidated entities, which represents cash that, although not legally restricted, is not available generally to fund liquidity needs of KKR, as the use of such funds is generally limited to the investment activities of KKR's investment funds and CFEs. The carrying values of cash and cash equivalents are considered to be reasonable estimates of their fair values.
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents Restricted cash and cash equivalents primarily represent amounts that are held by third parties under certain of KKR's financing and derivative transactions. The duration of this restricted cash generally matches the duration of the related financing or derivative transaction. Global Atlantic’s restricted cash principally includes certain cash and cash equivalents held in trusts formed for the benefit of ceding companies or held in connection with open derivative transactions. The carrying values of restricted cash and cash equivalents are considered to be reasonable estimates of their fair values.
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation techniques are applied. These valuation techniques involve varying levels of management estimation and judgment, the degree of which is dependent on a variety of factors. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments and financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I - Pricing inputs are unadjusted, quoted prices in active markets for identical assets or liabilities as of the measurement date. The types of financial instruments included in this category are publicly-listed equities, U.S. government and agencies securities, and securities sold short. Level II - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the measurement date, and fair value is determined through the use of models or other valuation methodologies. The types of financial instruments included in this category are credit investments, fixed-income securities held by consolidated insurance companies, investments and debt obligations of consolidated CLO entities, convertible debt securities indexed to publicly-listed securities, less liquid and restricted equity securities, certain funds withheld payable at interest, and certain over-the-counter derivatives such as foreign currency option and forward contracts. Level III - Pricing inputs are unobservable for the financial instruments and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The types of financial instruments generally included in this category are private portfolio companies, real assets investments, certain credit investments, equity method investments for which the fair value option was elected, certain fixed-income and structured securities held by the consolidated insurance subsidiaries, reinsurance recoverables carried at fair value, certain insurance policy liabilities carried at fair value, and certain embedded derivatives related to (i) certain funds withheld payable at interest, and (ii) annuities and indexed universal life products, which contain equity-indexed features. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. KKR's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset. A significant decrease in the volume and level of activity for the asset or liability is an indication that transactions or quoted prices may not be representative of fair value because in such market conditions there may be increased instances of transactions that are not orderly. In those circumstances, further analysis of transactions or quoted prices is needed, and a significant adjustment to the transactions or quoted prices may be necessary to estimate fair value. The availability of observable inputs can vary depending on the financial asset or liability and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument has recently been issued, whether the instrument is traded on an active exchange or in the secondary market, and current market conditions. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires additional judgment. Accordingly, the degree of judgment exercised by KKR in determining fair value is greatest for instruments categorized in Level III. The variability and availability of the observable inputs affected by the factors described above may cause transfers between Levels I, II, and III, which KKR recognizes at the beginning of the reporting period. Investments and other financial instruments that have readily observable market prices (such as those traded on a securities exchange) are stated at the last quoted sales price as of the reporting date. KKR does not adjust the quoted price for these investments, even in situations where KKR holds a large position and a sale could reasonably affect the quoted price. Management's determination of fair value is based upon the methodologies and processes described below and may incorporate assumptions that are management's best estimates after consideration of a variety of internal and external factors. Level II Valuation Methodologies Credit Investments, U.S. Municipal Securities, Corporate Bonds and Structured Securities: These financial instruments generally have bid and ask prices that can be observed in the marketplace. Bid prices reflect the highest price that KKR and others are willing to pay for an instrument. Ask prices represent the lowest price that KKR and others are willing to accept for an instrument. For financial instruments whose inputs are based on bid-ask prices obtained from third party pricing services, fair value may not always be a predetermined point in the bid-ask range. KKR's policy is generally to allow for mid-market pricing and adjusting to the point within the bid-ask range that meets KKR's best estimate of fair value. KKR may also use model-derived valuations whose inputs are observable or whose significant value drivers are observable. Investments and Debt Obligations of Consolidated CLO Vehicles: Investments of consolidated CLO vehicles are reported within Investments of Consolidated CFEs and are valued using the same valuation methodology as described above for credit investments. KKR measures CLO debt obligations on the basis of the fair value of the financial assets of the CLO. Securities Indexed to Publicly-Listed Securities: These securities are typically valued using standard convertible security pricing models. The key inputs into these models that require some amount of judgment are the credit spreads utilized and the volatility assumed. To the extent the company being valued has other outstanding debt securities that are publicly-traded, the implied credit spread on the company's other outstanding debt securities would be utilized in the valuation. To the extent the company being valued does not have other outstanding debt securities that are publicly-traded, the credit spread will be estimated based on the implied credit spreads observed in comparable publicly-traded debt securities. In certain cases, an additional spread will be added to reflect an illiquidity discount due to the fact that the security being valued is not publicly-traded. The volatility assumption is based upon the historically observed volatility of the underlying equity security into which the convertible debt security is convertible and/or the volatility implied by the prices of options on the underlying equity security. Equity Securities: The valuation of certain equity securities is based on (i) an observable price for an identical security adjusted for the effect of a restriction or leverage that collateralized the equity securities and (ii) quoted prices for identical or similar instruments in markets that are not active. Derivatives: The valuation incorporates observable inputs comprising yield curves, foreign currency rates, interest rate volatility and credit spreads. Level III Valuation Methodologies Private Equity Investments: KKR generally employs two valuation methodologies when determining the fair value of a private equity investment. The first methodology is typically a market comparables analysis that considers key financial inputs, which may take into account recent public and private transactions and other available measures. The second methodology utilized is typically a discounted cash flow analysis, which incorporates significant assumptions and judgments. Estimates of key inputs used in this methodology include the weighted average cost of capital for the investment and assumed inputs used to calculate terminal values, such as exit EBITDA multiples. The results of the discounted cash flow approach can be significantly impacted by these estimates. Other inputs are also used in both methodologies. In addition, when a definitive agreement has been executed to sell an investment, KKR generally considers a significant determinant of fair value to be the consideration to be received by KKR pursuant to the executed definitive agreement. Upon completion of the valuations conducted using these methodologies, a weighting is ascribed to each method, and an illiquidity discount is typically applied where appropriate. The ultimate fair value recorded for a particular investment will generally be within a range suggested by the two methodologies, except that the value may be higher or lower than such range in the case of investments being sold pursuant to an executed definitive agreement. When determining the weighting ascribed to each valuation methodology, KKR considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis, the expected hold period and manner of realization for the investment, and in the case of investments being sold pursuant to an executed definitive agreement, an estimated probability of such sale being completed. These factors can result in different weightings among investments in the portfolio and in certain instances may result in up to a 100% weighting to a single methodology. When an illiquidity discount is to be applied, KKR seeks to take a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments. KKR then evaluates such private equity investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include (i) the nature of KKR's governance rights, (ii) whether the portfolio company is undergoing significant restructuring activity or similar factors, and (iii) characteristics about the portfolio company regarding its size and/or whether the portfolio company is experiencing, or expected to experience, a significant decline in earnings. These factors generally make it less likely that a portfolio company would be sold or publicly offered in the near term at a price indicated by using just a market multiples and/or discounted cash flow analysis, and these factors tend to reduce the number of opportunities to sell an investment and/or increase the time horizon over which an investment may be monetized. Depending on the applicability of these factors, KKR determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time KKR holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by KKR in its valuations. In the case of growth equity investments, enterprise values may be determined using the market comparables analysis and discounted cash flow analysis described above. A scenario analysis may also be conducted to subject the estimated enterprise values to a downside, base and upside case, which involves significant assumptions and judgments. A milestone analysis may also be conducted to assess the current level of progress towards value drivers that we have determined to be important, which involves significant assumptions and judgments. The enterprise value in each case may then be allocated across the investment's capital structure to reflect the terms of the security and subjected to probability weightings. In certain cases, the values of growth equity investments may be based on recent or expected financings or other transactions. Real Asset Investments: Real asset investments in infrastructure, real estate, and energy are valued using one or a combination of the discounted cash flow analysis, market comparables analysis and direct income capitalization methods, which in each case incorporates significant assumptions and judgments. Infrastructure investments are generally valued using the discounted cash flow analysis. Key inputs used in this methodology can include the weighted average cost of capital and assumed inputs used to calculate terminal values, such as exit EBITDA multiples. Real estate investments are generally valued using a combination of direct income capitalization and discounted cash flow analysis. Certain real estate investments are valued by KKR based on ranges of valuations determined by independent valuation firms. Key inputs used in such methodologies that require estimates include an unlevered discount rate, current capitalization rate and exit capitalization rate. The valuations of real assets investments also use other inputs. Energy investments are generally valued using a discounted cash flow approach, and where applicable, a market approach using comparable companies and transactions. Key inputs used in our valuations include (i) the weighted average cost of capital, (ii) future commodity prices, as quoted on indices, and long-term commodity price forecasts, and (iii) the asset’s projected future operating performance. Credit Investments: Credit investments are valued using values obtained from dealers or market makers, and where these values are not available, credit investments are generally valued by KKR based on ranges of valuations determined by an independent valuation firm. Valuation models are based on discounted cash flow analyses, for which the key inputs are determined based on market comparables, which incorporate similar instruments from similar issuers. Real Estate Mortgage Loans: Real estate mortgage loans are illiquid, structured investments that are specific to the property and its operating performance. KKR engages an independent valuation firm to estimate the fair value of each loan. KKR reviews the quarterly loan valuation estimates provided by the independent valuation firm. These loans are generally valued using a discounted cash flow model using discount rates derived from observable market data applied to the capital structure of the respective sponsor and estimated property value. Other Investments: With respect to other investments including equity method investments, KKR generally employs the same valuation methodologies as described above for private equity, credit investments and real assets investments when valuing these other investments. Funds withheld at interest: The funds withheld receivables and payables at interest carried at fair value are primarily valued based on the fair value of the underlying investments, which have quoted prices or other observable inputs to pricing. A portion of the funds withheld receivable and payables at interest carried at fair value represent embedded derivatives and are generally valued as the difference between the fair value of the underlying assets and the carrying value of the host contract at the balance sheet date. Reinsurance recoverables: Reinsurance recoverables carried at fair value are valued using present value techniques that consider inputs including mortality and surrender rates for the associated policies, as well as estimates of policy expenses and the cost of capital held in support of the related closed block policy liabilities. Insurance policy liabilities, insurance embedded derivatives, and market risk benefits: Certain insurance policy liabilities that are carried at fair value are valued using present value techniques that discount estimated liability cash flows at a rate that reflects the variability of those cash flows and also consider policyholder behavior (including lapse rates, surrender rates and mortality). Closed block policy liabilities carried at fair value are valued using present value techniques that consider inputs including mortality and surrender rates for the respective policies, as well as estimates of policy expenses and the cost of capital held in support of the liabilities. Insurance embedded derivative liabilities are related to our fixed-indexed annuity, variable annuity and indexed universal life products, which contain equity-indexed features. These embedded derivative liabilities are calculated as the present value of future projected benefits in excess of the projected guaranteed benefits, using an option budget as the indexed account value growth rate and considering an adjustment to reflect the risk of nonperformance on our obligation and inputs such as projected withdrawal and surrender activity, and mortality. KKR calculates nonperformance risk using a blend of observable peer company credit spreads, adjusted to reflect the claims paying ability of our insurance entities, as well as an adjustment to reflect the priority of policyholder claims. Market risk benefits include certain contract features on fixed annuity and variable annuity products. These features include minimum guarantees to policyholders, such as guaranteed minimum death benefits (GMDBs), guaranteed minimum withdrawal benefits (GMWBs), and long-term care benefits (which are capped at the return of account value plus one or two times the account value). Market risk benefits are measured at fair value using a non-option and option valuation approach based on current net amounts at risk, market data, experience, and other factors. Key unobservable inputs that have a significant impact on KKR's Level III valuations as described above are included in Note 9 "Fair Value Measurements." KKR utilizes several unobservable pricing inputs and assumptions in determining the fair value of its Level III financial instruments. These unobservable pricing inputs and assumptions may differ by financial instruments and in the application of KKR's valuation methodologies. KKR's reported fair value estimates could vary materially if KKR had chosen to incorporate different unobservable pricing inputs and other assumptions or, for certain applicable investments, if KKR only used either the discounted cash flow methodology or the market comparables methodology instead of assigning a weighting to both methodologies.
Business Combinations	Business Combinations
Goodwill and Indefinite-Lived Intangible Assets	Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of acquisition cost over the fair value of net tangible and intangible assets acquired in connection with an acquisition. Goodwill is assessed for impairment annually in the third quarter of each fiscal year or more frequently if circumstances indicate impairment may have occurred. In accordance with GAAP, KKR has the option to either (i) perform a quantitative impairment test or (ii) first perform a qualitative assessment (commonly known as "step zero") to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, in which case the quantitative test would then be performed. When performing a quantitative impairment test, KKR compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit is less than its carrying amount, the goodwill impairment loss is equal to the excess of the carrying value over the fair value, limited to the carrying amount of goodwill allocated to that reporting unit. The estimated fair values of the reporting units are derived based on valuation techniques KKR believes market participants would use for each respective reporting unit. The estimated fair values are generally determined by utilizing a discounted cash flow methodology and methodologies that incorporate market multiples of certain comparable companies. KKR tests goodwill for impairment at the reporting unit level, which is generally at the level of or one level below its reportable segments, on an annual basis, or, when an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Goodwill recorded as a result of the acquisition of Global Atlantic has been allocated to the insurance segment, and goodwill recorded as a result of the acquisition of KJR Management ("KJRM") has been allocated to the asset management segment. In the first quarter of 2024, the change in reportable segments required the identification of a new reporting unit related to the creation of the Strategic Holdings segment and the allocation of goodwill to this reporting unit based on the relative fair value approach. During the third quarter of 2024, KKR performed its annual impairment analysis for the goodwill recorded at the asset management, strategic holdings and insurance reporting units. KKR elected to perform step zero for the purposes of its impairment analysis for the goodwill recorded at its reporting units. Based upon these assessments, KKR determined that it is more likely than not that the fair value of the reporting units exceeds its carrying value. Factors considered in the qualitative assessment included macroeconomic conditions, industry and market considerations, cost factors, current and projected financial performance, changes in management or strategy and market capitalization. KKR tests indefinite-lived intangible assets for impairment at the aggregate level of management contracts. KKR has the option to either (i) perform a quantitative impairment test or (ii) first perform a qualitative assessment to determine whether it is more likely than not that the fair value is less than its carrying amount, in which case, the quantitative test would be performed. During the third quarter of 2024, KKR performed its annual impairment analysis on KJRM’s investment management contracts recorded at KKR’s asset management business, which were determined to have indefinite useful lives and are not subject to amortization. KKR elected to perform a qualitative assessment for the purposes of its impairment analysis. Based upon this assessment, KKR determined that it is more likely than not that the fair value of the KJRM investment management contracts exceeded their carrying value. Factors considered in the qualitative assessment included macroeconomic conditions, industry and market considerations, cost factors, and current and projected financial performance.
Fixed Assets, Depreciation and Amortization	Fixed Assets, Depreciation and Amortization
Foreign Currency	Foreign Currency Consolidated entities that have a functional currency that differs from KKR's reporting currency are (i) KKR's investment management and capital markets companies located outside the United States and (ii) certain CFEs. Foreign currency denominated assets and liabilities are translated using the exchange rates prevailing at the end of each reporting period. Results of foreign operations are translated at the weighted average exchange rate for each reporting period. Translation adjustments are included as a component of accumulated other comprehensive income (loss) until realized. Foreign currency income or expenses resulting from transactions outside of the functional currency of a consolidated entity are recorded as incurred in general, administrative and other expense in the consolidated statements of operations.
Leases	Leases At contract inception, KKR determines if an arrangement contains a lease by evaluating whether (i) the identified asset has been deployed in the contract explicitly or implicitly and (ii) KKR obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. Additionally, at contract inception KKR will evaluate whether the lease is an operating or finance lease. Right-of-use ("ROU") assets represent KKR’s right to use an underlying asset for the lease term and lease liabilities represent KKR’s obligation to make lease payments arising from the lease. ROU assets and the associated lease liabilities are recognized at the commencement date based on the present value of the future minimum lease payments over the lease term. The discount rate implicit in the lease is generally not readily determinable. Consequently, KKR uses its incremental borrowing rate based on the information available including, but not limited to, collateral assumptions, the term of the lease, and the economic environment in which the lease is denominated at the commencement date in determining the present value of the future lease payments. The ROU assets are recognized as the initial measurement of the lease liabilities plus any initial direct costs and any prepaid lease payments less lease incentives received, if any. The lease terms may include options to extend or terminate the lease which are accounted for when it is reasonably certain that KKR will exercise that option. Certain leases that include lease and non-lease components are accounted for as one single lease component. In addition to contractual rent payments, occupancy lease agreements generally include additional payments for certain costs incurred by the landlord, such as building expenses and utilities. To the extent these are fixed or determinable, they are included as part of the lease payments used to measure the operating lease liability. Operating lease expense is recognized on a straight-line basis over the lease term and is recorded within Occupancy and Related Charges in the accompanying consolidated statements of operations. The ROU assets are included in Other Assets and the lease liabilities are included in Accrued Expenses and Other Liabilities in the accompanying consolidated statements of financial condition. See Note 14 "Other Assets and Accrued Expenses and Other Liabilities."
Equity-based, Incentive and Other Deferred Compensation	Equity-based Compensation In addition to the cash-based compensation and carry pool allocations as described above, employees receive equity awards. Most of these awards are subject to service-based vesting typically over a three The total tax benefit recognized in the consolidated statements of operations for equity based compensation for the years ended December 31, 2024, 2023, and 2022 was $126.7 million, $51.3 million and $65.4 million, respectively, and was recognized as an income tax benefit in the consolidated statements of operations. Incentive and Other Deferred Compensation Global Atlantic measured compensation cost for certain legacy deferred or cash-based compensation plans that were in place prior to 2024 using an intrinsic value method, beginning on the date of grant, and remeasured the value at each reporting period until the awards are settled. Accrued compensation expense is recognized in general, administrative and other expenses in the consolidated statements of operations and within accrued expenses and other liabilities in the consolidated statements of financial condition. See Note 19, "Equity Based Compensation", for additional information relating to the modification and replacement of these legacy plans.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, excluding those resulting from contributions from and distributions to owners. In the accompanying consolidated financial statements, comprehensive income is recorded net of income taxes and is comprised of (i) Net Income (Loss), as presented in the consolidated statements of operations, (ii) unrealized gains (losses) on available-for-sale securities and other (iii) net effect of changes in discount rates and instrument-specific credit risk on policy liabilities and (iv) foreign currency translation.
Income Taxes	Income Taxes KKR & Co. Inc. is a domestic corporation for U.S. federal income tax purposes and is subject to U.S. federal, state and local income taxes at the entity level on its share of taxable income. In addition, KKR Group Partnership and certain of its subsidiaries operate as partnerships for U.S. federal tax purposes but as taxable entities for certain state, local or non-U.S. tax purposes. Moreover, certain corporate subsidiaries of KKR, including certain subsidiaries of Global Atlantic, are domestic corporations for U.S. federal income tax purposes and are subject to U.S. federal, state, and local income taxes. Deferred Income Taxes Income taxes are accounted for using the asset and liability method of accounting. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax basis, using tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred assets and liabilities of a change in tax rates is recognized in the consolidated statements of operations in the period when the change is enacted. Deferred tax assets, which are recorded in Other Assets within the consolidated statements of financial condition, are reduced by a valuation allowance when, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. When evaluating the realizability of the deferred tax assets, all evidence, both positive and negative, is considered. Items considered when evaluating the need for a valuation allowance include the ability to carry back losses, future reversals of existing temporary differences, tax planning strategies, and expectations of future earnings. For a particular tax‑paying component of an entity and within a particular tax jurisdiction, deferred tax assets and liabilities are offset and presented as a single amount within Other Assets or Accrued and Other Liabilities, as applicable, in the accompanying statements of financial condition. Uncertain Tax Positions KKR analyzes its tax filing positions in all of the U.S. federal, state and local tax jurisdictions and foreign tax jurisdictions where it is required to file income tax returns, as well as for all open tax years in these jurisdictions. If, based on this analysis, KKR determines that uncertainties in tax positions exist, a reserve is established. The reserve for uncertain tax positions is recorded in Accrued and Other Liabilities in the accompanying statements of financial condition. KKR recognizes accrued interest and penalties related to uncertain tax positions within the provision for income taxes in the consolidated statements of operations. KKR records uncertain tax positions on the basis of a two‑step process: (a) determination is made whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (b) those tax positions that meet the more‑likely‑than‑not threshold are recognized as the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
Net Income (Loss) attributable to KKR & Co. Inc. per share of common stock	Net Income (Loss) attributable to KKR & Co. Inc. per share of common stock Net Income (Loss) attributable to KKR per share of common stock (Basic) is computed by dividing earnings (losses) attributable to KKR common stockholders by the weighted average number of common shares outstanding for the period. Net Income (Loss) attributable to KKR per share of common stock (Diluted) reflects the assumed conversion of all dilutive securities. For further information on net income (loss) per common share, see Note 13 "Net Income (Loss) Attributable to KKR & Co. Inc. per Share of Common Stock."
Investments	Investments Investments consist primarily of private equity, credit, investments of consolidated CFEs, real assets, equity method and other investments. Investments denominated in currencies other than the entity's functional currency are valued based on the spot rate of the respective currency at the end of the reporting period with changes related to exchange rate movements reflected in the consolidated statements of operations. Security and loan transactions are recorded on a trade date basis. Further disclosure on investments is presented in Note 7 "Investments." The following describes the types of securities held within each investment class. Private Equity - Consists primarily of equity investments in operating businesses, including growth equity investments. Credit - Consists primarily of investments in below investment grade corporate debt securities (primarily high yield bonds and syndicated bank loans), originated, distressed and opportunistic credit, real estate mortgage loans, and interests in unconsolidated CLOs. Investments of Consolidated CFEs - Consists primarily of investments in below investment grade corporate debt securities (primarily high yield bonds and syndicated bank loans) held directly by the consolidated CLOs. Real Assets - Consists primarily of investments in (i) infrastructure assets, (ii) real estate, principally residential and commercial real estate assets and businesses, and (iii) energy related assets, principally oil and natural gas properties. Equity Method - Other - Consists primarily of (i) certain direct interests in operating companies in which KKR is deemed to exert significant influence under GAAP and (ii) certain interests in partnerships and joint ventures that hold private equity and real assets investments. Equity Method - Capital Allocation-Based Income - Consists primarily of (i) the capital interest KKR holds as the general partner in certain investment funds, which are not consolidated and (ii) the carried interest component of the general partner interest, which are accounted for as a single unit of account. Other - Consists primarily of investments in common stock, preferred stock, warrants and options of companies that are not private equity, real assets, credit or investments of consolidated CFEs. Investments held by Consolidated Investment Funds The consolidated investment funds are, for GAAP purposes, investment companies and reflect their investments and other financial instruments, including portfolio companies that are majority-owned and controlled by KKR's investment funds, at fair value. KKR has retained this specialized accounting for the consolidated investment funds in consolidation. Accordingly, the unrealized gains and losses resulting from changes in fair value of the investments and other financial instruments held by the consolidated investment funds are reflected as a component of Net Gains (Losses) from Investment Activities in the consolidated statements of operations. Certain energy investments are made through consolidated investment funds, including investments in working and royalty interests in oil and natural gas properties as well as investments in operating companies that operate in the energy industry. Since these investments are held through consolidated investment funds, such investments are reflected at fair value as of the end of the reporting period. Investments in operating companies that are held through KKR's consolidated investment funds are generally classified within private equity investments and investments in working and royalty interests in oil and natural gas properties are generally classified as real asset investments. Fair Value Option For certain investments and other financial instruments, KKR has elected the fair value option. Such election is irrevocable until the occurrence of certain qualifying events as defined in ASC 825, when KKR has, in addition to the ability to elect or the option to cease applying the fair value option to an eligible item to which it was previously applied and is applied on a financial instrument by financial instrument basis at initial recognition. KKR has elected the fair value option for certain private equity, real assets, credit, investments of consolidated CFEs, equity method - other and other financial instruments not held through a consolidated investment fund. Accounting for these investments at fair value is consistent with how KKR accounts for its investments held through consolidated investment funds. Changes in the fair value of such instruments are recognized in Net Gains (Losses) from Investment Activities in the consolidated statements of operations. Interest income on interest bearing credit securities on which the fair value option has been elected is based on stated coupon rates adjusted for the accretion of purchase discounts and the amortization of purchase premiums. This interest income is recorded within Interest Income in the consolidated statements of operations. Equity Method For certain investments in entities over which KKR exercises significant influence but which do not meet the requirements for consolidation and for which KKR has not elected the fair value option, KKR uses the equity method of accounting. The carrying value of equity method investments, for which KKR has not elected the fair value option, is determined based on the amounts invested by KKR, adjusted for the equity in earnings or losses of the investee allocated based on KKR's respective ownership percentage, less distributions. For equity method investments for which KKR has not elected the fair value option, KKR records its proportionate share of the investee's earnings or losses based on the most recently available financial information of the investee, which in certain cases may lag the date of KKR's financial statements by no more than three calendar months. As of December 31, 2024, equity method investees for which KKR reports financial results on a lag include Marshall Wace LLP ("Marshall Wace"). KKR evaluates its equity method investments for which KKR has not elected the fair value option for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. The carrying value of investments classified as Equity Method - Capital Allocation-Based Income approximates fair value, because the underlying investments of the unconsolidated investment funds are reported at fair value. Financial Instruments held by Consolidated CFEs KKR measures both the financial assets and financial liabilities of the consolidated CFEs in its financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities which results in KKR's consolidated net income (loss) reflecting KKR's own economic interests in the consolidated CFEs including (i) changes in the fair value of the beneficial interests retained by KKR and (ii) beneficial interests that represent compensation for services rendered. For the consolidated CLOs, KKR has determined that the fair value of the financial assets of the consolidated CLOs is more observable than the fair value of the financial liabilities of the consolidated CLOs. As a result, the financial assets of the consolidated CLOs are being measured at fair value and the financial liabilities are being measured in consolidation as: (1) the sum of the fair value of the financial assets and the carrying value of any nonfinancial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by KKR (other than those that represent compensation for services) and KKR's carrying value of any beneficial interests that represent compensation for services. The resulting amount is allocated to the individual financial liabilities (other than the beneficial interests retained by KKR). Investments In the normal course of business, Global Atlantic enters into transactions involving various types of investments. Investments include the following: U.S. government and agency obligations; commercial mortgage-backed securities ("CMBS"), residential mortgage-backed securities ("RMBS"), CLOs, collateralized bond obligations ("CBOs"), and all other structured securities, consisting primarily of asset-backed securities ("ABS") (collectively, "structured securities"); corporate bonds; state and political subdivision obligations; foreign government obligations; equity securities; mortgage and other loan receivables; policy loans; and other non-derivative investments. Available-For-Sale Fixed Maturity Securities Global Atlantic primarily accounts for its fixed maturity securities (including bonds, structured securities and redeemable preferred stock) as available-for-sale ("AFS"). AFS fixed maturity securities are generally recorded on a trade-date basis and are carried at fair value. Impairment associated with AFS fixed maturity securities is recognized as an allowance for credit losses. The allowance for credit losses is established either by a charge to net investment-related losses in the consolidated statements of operations, for securities identified as credit impaired after purchase, or by a gross-up recognition of an initial allowance for purchased credit deteriorated ("PCD") securities. PCD securities are those purchased by Global Atlantic that were assessed at acquisition as having experienced a more-than-insignificant deterioration in credit quality since their origination. Global Atlantic considers an AFS fixed maturity security to be PCD if there are indicators of a credit loss at the acquisition date or, in the case of structured securities, if there is a significant difference between contractual cash flows and expected cash flows at acquisition. PCD securities also include those AFS fixed maturity securities previously held by Global Atlantic that were similarly assessed at the time when KKR acquired a majority controlling interest in Global Atlantic on February 1, 2021 (the "2021 GA Acquisition"). The initial amortized cost for a PCD security equals the purchase price plus the initial allowance for credit losses. The initial allowance for credit losses is determined using a discounted cash flow method based on the best estimate of the present value of cash flows expected to be collected. After purchase, the accounting for a PCD security is generally consistent with that applied to all other securities. Unrealized gains and losses on AFS fixed maturity securities, net of tax and insurance intangible amortization, are reported in accumulated other comprehensive income ("AOCI") in the consolidated statements of financial condition. Realized investment gains and losses are recognized on a first-in first-out ("FIFO") basis and are reported in net investment-related gains (losses) in the consolidated statements of operations. The amortized cost of fixed maturity securities is adjusted for impairment charge-offs, amortization of premiums and accretion of discounts. Such amortization and accretion is calculated using the effective yield method and included in net investment income in the consolidated statements of operations. For structured securities, Global Atlantic recognizes interest income using a constant effective yield based on estimated cash flows generated from internal models utilizing interest rate, default and prepayment assumptions. Effective yields for structured securities that are not of high credit quality are recalculated and adjusted prospectively based on changes in expected undiscounted future cash flows, after consideration of any appropriate recognition or release of an allowance for credit losses. For structured securities that are of high credit quality, effective yields are recalculated based on payments received and updated prepayment expectations, and amortized cost is adjusted to the amount that would have existed had the new effective yield been applied since acquisition with a corresponding charge or credit to net investment income. Prepayment fees are recorded when earned in net investment income in the consolidated statements of operations. Global Atlantic generally suspends accrual of interest for securities that are more than 90 days past due and reverses any related accrued interest to net investment income in the consolidated statements of operations. When a security is in non-accrual status, coupon payments are recognized as interest income as cash is received, subject to consideration as to the overall collectibility of the security. A security is returned to accrual status when Global Atlantic determines that the collection of amounts due is probable. The allowance for credit losses excludes accrued interest from the amortized cost basis for which losses are estimated. Trading Fixed Maturity Securities Global Atlantic accounts for certain fixed maturity securities as trading at acquisition, based on intent or via the election of the fair value option. Trading securities are generally recorded on a trade-date basis and are carried at fair value, with realized and unrealized gains and losses reported in net investment-related gains (losses) in the consolidated statements of operations. Interest income from these securities is reported in net investment income. Trading securities, which are primarily used to match asset and liability accounting, back funds withheld payable at interest where the investment performance is ceded to reinsurers under the terms of the respective reinsurance agreements. Equity Securities Global Atlantic accounts for its investments in equity securities (including common stock and non-redeemable preferred stock) that do not require equity method accounting or result in consolidation, at fair value. Realized and unrealized investment gains and losses are reported in net investment-related gains (losses) in the consolidated statements of operations. Mortgage and Other Loan Receivables Global Atlantic purchases and originates mortgage and other loan receivables, and the majority of these loans are carried at cost, less the allowance for credit losses and as adjusted for amortization/accretion of premiums/discounts. Loan premiums or discounts are amortized or accreted using the effective yield method. The allowance for credit losses is established either by a charge to net investment-related losses in the consolidated statements of operations or, for PCD mortgage and other loan receivables, by a gross-up recognition of the initial allowance in the consolidated statements of financial condition. PCD mortgage and other loan receivables are those purchased by Global Atlantic that were assessed at acquisition as having experienced a more-than-insignificant deterioration in credit quality since their origination. PCD mortgage and other loan receivables also include those mortgage and other loan receivables previously held by Global Atlantic that were similarly assessed at the time of the 2021 GA Acquisition. The initial amortized cost for a PCD mortgage or other loan receivable equals the purchase price plus the initial allowance for credit losses. The initial allowance for credit losses is determined using a method consistent with that used for other similar loans. See further discussion of allowance methods below. After purchase, the accounting for a PCD mortgage or other loan receivable is consistent with that applied to all other mortgage and other loan receivables. Global Atlantic has elected the fair value option for certain mortgage and other loan receivables, when purchased or originated. Changes in the fair value of these mortgage and other loan receivables are reported in net investment related gains (losses) in the consolidated statements of operations. Interest income is accrued on the principal balance of each loan based on its contractual interest rate. The accrual of interest is generally suspended when the collection of interest is no longer probable or the collection of any portion of principal is doubtful. Global Atlantic generally suspends accrual of interest for loans that are more than 90 days past due and reverses any related accrued interest to net investment income in the consolidated statements of operations. When a loan is in non-accrual status, coupon payments are generally recognized as interest income as cash is received, subject to consideration as to the overall collectibility of the loan. A loan is returned to accrual status when Global Atlantic determines that the collection of amounts due is probable. The allowance for credit losses for loans carried at amortized cost excludes accrued interest from the amortized cost basis for which losses are estimated. Policy Loans Policy loans are loans policyholders take out against their life insurance policies. Each policy loan is fully collateralized by the cash surrender value of the policyholder’s life insurance policy. Policy loans are carried at unpaid principal balances. Interest income on such loans is recognized as earned using the contractually agreed upon interest rate and reflected in net investment income in the consolidated statements of operations. Generally, interest is capitalized on the associated policy’s anniversary date. Real Assets and Other Investments Real assets consist primarily of investments in real estate assets, transportation assets, energy-related assets (principally renewable energy properties), and infrastructure assets. Other investments include equity securities, limited partnership interests, investments in Federal Home Loan Bank ("FHLB") common stock, and other interests. Real assets and other investments in the consolidated statements of financial condition include investments in investment partnerships, for which Global Atlantic does not have voting control or power to direct activities. These investments are accounted for using the equity method of accounting unless Global Atlantic’s interest is so minor that it has virtually no influence over partnership operating or financial policies. The equity method of accounting requires that the investments be initially recorded at cost and the carrying amount of the investment subsequently be adjusted to recognize Global Atlantic’s share of the earnings and losses of the investee. Where there is a difference between the cost of the investment and Global Atlantic’s proportionate share of the equity method investee’s net assets, this basis difference is accreted to net investment income over the life of the underlying assets. In applying the equity method, Global Atlantic uses financial information provided by the investee, generally on a one to three month lag due to the timing of the receipt of related financial statements. The income from Global Atlantic’s equity method investments is included in net investment income in the consolidated statements of operations. In limited circumstances, Global Atlantic elects to apply the fair value option to investment partnerships, which are carried at fair value with unrealized gains and losses reported in net investment-related gains (losses) in the consolidated statements of operations. Distributions from investment partnerships that apply equity method accounting are classified as either investing or operating activities within the consolidated statements of cash flows based on the nature of the distributions. Global Atlantic consolidates investment partnerships and other entities when it has a controlling financial interest. The results of certain consolidated investment entities are reported on a one to three month lag and intervening events are evaluated for materiality and recognition by disclosure or otherwise, as appropriate. Included in real assets are Global Atlantic’s investments in renewable energy entities, including partnerships and limited liability companies. Respective investments are consolidated when Global Atlantic has a controlling financial interest, or are accounted for using the equity method of accounting when Global Atlantic has the ability to exercise significant influence but not control. These investments involve tiered capital structures that facilitate a waterfall of returns and allocations to ensure the efficient use of tax credits. A conventional income statement oriented approach to the equity method of accounting, or to the recognition of noncontrolling interests (when Global Atlantic is consolidating the investment), based on ownership percentages does not accurately reflect the proper allocation of income and cash flows for these investments. Instead, Global Atlantic uses the HLBV which is a balance sheet oriented approach to the equity method of accounting and to the recognition of noncontrolling interests that allocates income and cash flows based on changes to each investor’s claim to net assets assuming a liquidation of the investee as of each reporting date, including an assessment of the likelihood of liquidation in determining the contractual provisions to utilize when applying the HLBV method. The income, net of the depreciation and other expenses associated with consolidated real assets is reported in net investment income in the consolidated statements of operations. Income on real assets is generally earned from the lease of the assets or, in the case of energy-related assets, from the contracted sale of the energy generated. Real assets carried at depreciated cost, excluding land, are depreciated on a straight-line basis over their estimated useful lives. As appropriate, depreciation is recognized to the estimated salvage value of the respective asset. Global Atlantic has certain investments in real estate held in consolidated investment companies that account for such real estate at fair value under investment company accounting, and this specialized accounting is retained in consolidation. Real asset investments in real estate are valued using one or a combination of the discounted cash flow analysis, market comparables analysis and direct income capitalization methods, which in each case incorporates significant assumptions and judgments. Certain real estate investments are valued based on ranges of valuations determined by independent valuation firms. Changes in the fair value of real estate in consolidated investment companies are recognized in net investment-related gains (losses) in the consolidated statements of operations. Investments in equity securities are carried at fair value, with changes recognized in net investment related gains (losses) in the consolidated statements of operations. Investments in FHLB common stock are accounted at cost.
Due from and Due to Affiliates	Due from and Due to Affiliates KKR considers its principals and their related entities, unconsolidated investment funds and the portfolio companies of its funds to be affiliates for accounting purposes. Receivables from and payables to affiliates are recorded at their current settlement amount.
Derivative Instruments	Derivative instruments Derivative Instruments Derivatives are instruments that derive their values from underlying asset prices, indices, foreign exchange rates, reference rates and other inputs or a combination of these factors. Derivatives may be privately negotiated contracts, which are usually referred to as over-the-counter ("OTC") derivatives, or they may be listed and traded on an exchange ("exchange-traded"). Global Atlantic’s derivative instruments are primarily used to hedge certain risks, including interest rate risk, equity market risk and foreign exchange risk. Where certain criteria are met, some of these hedging arrangements may achieve hedge accounting. Derivative instruments are recognized at estimated fair value in either funds withheld receivable at interest, other assets, funds withheld payable at interest or accrued expenses and other liabilities in the consolidated statements of financial condition, with changes in fair value recorded in net investment-related gains (losses) in the consolidated statements of operations. Where certain qualifying criteria are met, some derivative instruments are designated as accounting hedges and are recognized at estimated fair value in derivative assets or accrued expenses and other liabilities in the consolidated statements of financial condition. For derivative instruments designated as fair value hedges, changes in fair value are recognized in the consolidated statements of operations, in the same line where the hedged item is reported. For derivative instruments designated as cash flow hedges, changes in fair value are initially recognized in accumulated other comprehensive income (loss) in the consolidated statements of financial condition and subsequently reclassified to the consolidated statements of operations when the hedged item affects earnings, in the same line item where the hedged item is reported. For derivative instruments designated as net investment hedges, changes in fair value are recognized in accumulated other comprehensive income (loss) in the consolidated statements of financial condition, consistent with the translation adjustment for the hedged investment.
Securities Sold Short	Securities Sold Short Whether part of a hedging transaction or a transaction in its own right, securities sold short represent obligations of KKR to deliver the specified security at the contracted price at a future point in time, and thereby create a liability to repurchase the security in the market at the prevailing prices. The liability for such securities sold short, which is recorded in Accrued Expenses and Other Liabilities in the statement of financial condition, is marked to market based on the current fair value of the underlying security at the reporting date with changes in fair value recorded as unrealized gains or losses in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. These transactions may involve market risk in excess of the amount currently reflected in the accompanying consolidated statements of financial condition.
Fees and Other	Fees and Other Fees and Other, as detailed above, are accounted for as contracts with customers. Under ASC 606, Revenue from Contracts with Customers ("ASC 606"), KKR is required to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) KKR satisfies its performance obligation. In determining the transaction price, KKR has included variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. The following table summarizes KKR's revenues from contracts with customers: Revenue Type Customer Performance Obligation Performance Obligation Satisfied Over Time or Point In Time (1) Variable or Payment Terms Subject to Return Once Recognized Classification of Uncollected Amounts (2) Management Fees Investment funds, CLOs and other vehicles Investment management services Over time as services are rendered Variable consideration since varies based on fluctuations in the basis of the management fee over time Typically quarterly or annually in arrears No Due from Affiliates Transaction Fees Portfolio companies and third party companies Advisory services and debt and equity arranging and underwriting Point in time when the transaction (e.g. underwriting) is completed Fixed consideration Typically paid on or shortly after transaction closes No Due from Affiliates (portfolio companies) Other Assets (third parties) Monitoring Fees Recurring Fees Portfolio companies Monitoring services Over time as services are rendered Variable consideration since varies based on fluctuations in the basis of the recurring fee Typically quarterly in arrears No Due from Affiliates Termination Fees Portfolio companies Monitoring services Point in time when the termination is completed Fixed consideration Typically paid on or shortly after termination occurs No Due from Affiliates Incentive Fees Investment funds and other vehicles Investment management services that result in achievement of minimum investment return levels Over time as services are rendered Variable consideration since contingent upon the investment fund and other vehicles achieving more than stipulated investment return hurdles Typically paid shortly after the end of the performance measurement period No Due from Affiliates Expense Reimbursements Investment funds and portfolio companies Investment management and monitoring services Point in time when the related expense is incurred Fixed consideration Typically shortly after expense is incurred No Due from Affiliates Consulting Fees Portfolio companies and other companies Consulting and other services Over time as services are rendered Fixed consideration Typically quarterly in arrears No Due from Affiliates (1) For performance obligations satisfied at a point in time, there were no significant judgments made in evaluating when a customer obtains control of the promised service. (2) For amounts classified in Other Assets, see Note 14 "Other Assets and Accrued Expenses and Other Liabilities." For amounts classified in Due from Affiliates, see Note 20 "Related Party Transactions." Management Fees KKR provides investment management services to investment funds, CLOs, and other vehicles and entities in exchange for a management fee. Management fees are generally determined quarterly based on an annual rate and are generally based upon a percentage of the capital committed, capital invested or net asset value during the investment period, if applicable. Thereafter, management fees are generally based on a percentage of remaining invested capital, net asset value, gross assets or as otherwise defined in the respective contractual agreements. Since some of the factors that cause the fees to fluctuate are outside of KKR's control, management fees are considered to be constrained and are therefore not included in the transaction price. Revenue recognized for the investment management services provided is generally determined at the end of the period because these management fees are payable on a regular basis (typically quarterly) and the uncertainty for that period is resolved. Management fees earned from KKR's consolidated investment funds and other vehicles and entities are eliminated in consolidation. However, because these amounts are funded by, and earned from, noncontrolling interests, KKR's allocated share of the net income from the consolidated investment funds and other vehicles is increased by the amount of fees that are eliminated. Accordingly, net income (loss) attributable to KKR and KKR’s stockholder’s equity would be unchanged, if such investment funds and other vehicles were not consolidated. Management fee calculations based on committed capital or invested capital are mechanical in nature and therefore do not require the use of significant estimates or judgments. Management fee calculations based on net asset value, total assets, or investment fair value depend on the fair value of the underlying investments within the investment vehicle. Fee Credits Under the terms of the management agreements with certain of its investment funds, KKR is required to share with such funds an agreed upon percentage of certain fees, including monitoring and transaction fees earned from portfolio companies ("Fee Credits"). Investment funds earn Fee Credits only with respect to monitoring and transaction fees that are allocable to the fund's investment in the portfolio company and not, for example, any fees allocable to capital invested through co-investment vehicles. Fee Credits are calculated after deducting certain costs incurred in connection with pursuing potential investments that do not result in completed transactions ("broken-deal expenses") and generally amount to 80% for older funds formed on or prior to January 1, 2015, or 100% for newer funds, of allocable monitoring and transaction fees after broken-deal expenses are recovered, although the actual percentage may vary from fund to fund. Fee Credits are recognized and owed to investment funds concurrently with the recognition of monitoring fees, transaction fees and broken-deal expenses. Since Fee Credits are payable to investment funds, amounts owed are generally applied as a reduction of the management fee that is otherwise billed to the investment fund. Fee credits are recorded as a reduction of revenues in the consolidated statement of operations. Fee Credits owed to investment funds are recorded in Due to Affiliates on the consolidated statements of financial condition. See Note 20 "Related Party Transactions." Transaction Fees KKR (i) arranges debt and equity financing, places and underwrites securities offerings, and provides other types of capital markets services for companies seeking financing in its Capital Markets business line and (ii) provides advisory services in connection with successful Private Equity, Real Assets, and Credit and Liquid Strategies business line portfolio company investment transactions, in each case, in exchange for a transaction fee. Transaction fees are separately negotiated for each transaction and are generally based on (i) for Capital Markets business line transactions, a percentage of the overall transaction size and (ii) for Private Equity, Real Assets, and Credit and Liquid Strategies business line transactions, a percentage of either total enterprise value of an investment or a percentage of the aggregate price paid for an investment. After the contract is established, there are no significant judgments made when determining the transaction price. Monitoring Fees KKR provides services in connection with monitoring portfolio companies in exchange for a fee. Recurring monitoring fees are separately negotiated for each portfolio company. In addition, certain monitoring fee arrangements may provide for a termination payment following an initial public offering or change of control as defined in the contractual terms of the related agreement. These termination payments are recognized in the period when the related transaction closes. After the contract is established, there are no significant judgments made when determining the transaction price. Incentive Fees KKR provides investment management services to certain investment funds, CLOs and other vehicles in exchange for a management fee as discussed above and, in some cases an incentive fee when KKR is not entitled to a carried interest. Incentive fee rates generally range from 5% to 20% of investment gains. Incentive fees are considered a form of variable consideration as these fees are subject to reversal, and therefore the recognition of such fees is deferred until the end of each fund's measurement period when the performance-based incentive fees become fixed and determinable. Incentive fees are generally paid within 90 days of the end of the investment vehicles' measurement period. After the contract is established, there are no significant judgments made when determining the transaction price. Incentive fees earned from KKR's consolidated investment funds, CLOs, and other vehicles are eliminated in consolidation. However, because these amounts are funded by, and earned from, noncontrolling interests, KKR's allocated share of the net income from the consolidated investment funds, CLOs, and other vehicles is increased by the amount of fees that are eliminated. Accordingly, net income (loss) attributable to KKR would be unchanged if such investment funds and other vehicles were not consolidated. Expense Reimbursements Providing investment management services to investment funds and monitoring KKR’s portfolio companies require KKR to arrange for services on behalf of them. In those situations where KKR is acting as an agent on behalf of its investment funds or portfolio companies, it presents the cost of services on a net basis as a reduction of Revenues. In all other situations, KKR is primarily responsible for fulfilling the services and is therefore acting as a principal for those arrangements for accounting purposes. As a result, the expense and related reimbursement associated with those services is presented on a gross basis. Costs incurred are classified within Expenses and reimbursements of such costs are classified as Expense Reimbursements within Revenues on the consolidated statements of operations. After the contract is established, there are no significant judgments made when determining the transaction price. Consulting Fees KKR provides consulting and other services to portfolio companies and other companies in exchange for a consulting fee. Consulting fees are separately negotiated with each company for which services are provided. After the contract is established, there are no significant judgments made when determining the transaction price. Capital Allocation-Based Income (Loss) Capital allocation-based income (loss) is earned from those arrangements where KKR has a general partner capital interest and is entitled to a disproportionate allocation of investment income (referred to hereafter as "carried interest"). KKR accounts for its general partner interests in capital allocation-based arrangements as financial instruments under ASC 323, Investments - Equity Method and Joint Ventures ("ASC 323") since the general partner has significant governance rights in the investment funds in which it invests, which demonstrates significant influence. In accordance with ASC 323, KKR records equity method income based on the proportionate share of the income of the investment fund, including carried interest, assuming the investment fund was liquidated as of each reporting date pursuant to each investment fund's governing agreements. Accordingly, these general partner interests are accounted for outside of the scope of ASC 606. Other arrangements surrounding contractual incentive fees through an advisory contract are separate and distinct and accounted for in accordance with ASC 606. In these incentive fee arrangements, accounted for in accordance with ASC 606, KKR’s economics in the entity do not involve an allocation of capital. See "Incentive Fees" above. Carried interest is allocated to the general partner based on cumulative fund performance to date, and where applicable, subject to a preferred return to the funds' limited partners. At the end of each reporting period, KKR calculates the carried interest that would be due to KKR for each investment fund, pursuant to the fund agreements, as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as carried interest to reflect either (a) positive performance resulting in an increase in the carried interest allocated to the general partner or (b) negative performance that would cause the amount due to KKR to be less than the amount previously recognized, resulting in a negative adjustment to carried interest allocated to the general partner. In each case, it is necessary to calculate the carried interest on cumulative results compared to the carried interest recorded to date and to make the required positive or negative adjustments. KKR ceases to record negative carried interest allocations once previously recognized carried interest allocations for an investment fund have been fully reversed. KKR is not obligated to make payments for guaranteed returns or hurdles and, therefore, cannot have negative carried interest over the life of an investment fund. Accrued but unpaid carried interest as of the reporting date is reflected in Investments in the consolidated statements of financial condition.
Compensation and Benefits	Compensation and Benefits Compensation and Benefits expense includes (i) base cash compensation consisting of salaries and wages, (ii) benefits, (iii) carry pool allocations, (iv) equity-based compensation, and (v) discretionary cash bonuses. To supplement base cash compensation, benefits, carry pool allocations, and equity-based compensation, KKR typically pays discretionary cash bonuses, which are included in Compensation and Benefits expense in the consolidated statements of operations, based principally on the level of segment (i) management fees and other fee revenues (including incentive fees), (ii) realized performance income and (iii) realized investment income earned during the year. The amounts paid as discretionary cash bonuses, if any, are at KKR’s sole discretion and vary by individual to individual and from period to period, including having no cash bonus. KKR accrues discretionary cash bonuses when payment becomes probable and reasonably estimable which is generally in the period when KKR makes the decision to pay discretionary cash bonuses and is based upon a number of factors including the recognition of segment fee revenues, realized performance income, realized investment income and other factors determined during the year. KKR decides whether to pay a discretionary cash bonus and determines the percentage of applicable revenue components to pay compensation only upon the occurrence of the realization event. There is no contractual or other binding obligation that requires KKR to pay a discretionary cash bonus to its employees, except in limited circumstances. Carry Pool Allocation With respect to our funds that provide for carried interest, KKR allocates a portion of the realized and unrealized carried interest that KKR earns to Associates Holdings, which is referred to as the carry pool, from which KKR's asset management employees and certain other carry pool participants are eligible to receive a carried interest allocation. The allocation is determined based upon a fixed arrangement between Associates Holdings and KKR, and KKR does not exercise discretion on whether to make an allocation to the carry pool upon a realization event. KKR refers to the portion of carried interest that KKR allocates to the carry pool as the carry pool percentage. As of December 31, 2023, the carry pool percentage was fixed at 40%, 43% or 65% by investment fund, depending on the fund’s vintage. For funds that closed after December 31, 2020 but before December 31, 2023, the carry pool percentage was fixed at 65%. For funds that closed after June 30, 2017 but before December 31, 2020, the carry pool percentage was fixed at 43%, and the carry pool percentage was fixed at 40% for older funds that contributed to KKR's carry pool. Effective January 2, 2024, KKR is authorized to apply a carry pool percentage in excess of these fixed percentages of up to 80% for all funds. This increase to the carry pool percentage was approved by a majority of KKR's independent directors, and the carry pool percentage may not be increased above 80% without the further approval of a majority of KKR's independent directors. For funds that closed after December 31, 2023, the carry pool percentage is fixed at 80%. For funds that closed prior to December 31, 2023, the carry pool percentage is calculated at a fixed percentage of 40%, 43% or 65% (depending on the fund’s vintage) for carried interest realized up to a high water mark, which was established based on the unrealized carried interest balance that existed on January 2, 2024, plus an additional percentage amount up to 80% based on a formulaic allocation, only if the unrealized carried interest balance at any period end exceeds the high water mark. This imposes a limitation of the carry pool allocation for such funds based on the amount of cumulative unrealized carried interest income earned subsequent to December 31, 2023. For funds that closed before December 31, 2023, if the cumulative carried interest subsequent to December 31, 2023 is not sufficient to fund this formulaic allocation, the allocation of carried interest reverts to the carry pool percentage in effect before this modification. As such, upon modification of the carry pool percentage effective on January 2, 2024, the cumulative unrealized carried interest was not sufficient to fund the additional formulaic allocation percentage in excess of the pre-existing 40%, 43% and 65% carry pool percentages, and therefore no incremental expense was recognized as of such date. The carry pool percentage applicable for all funds that closed prior to December 31, 2023 will not be less than their applicable carry pool percentages of 40%, 43% or 65% prior to December 31, 2023, and will not be more than 80%. The intent of this modification is that for all funds that closed prior to January 2, 2024, upon the final liquidation of each fund, realized carried interest distributed will equal the historical fund carry pool allocations up to the high water mark and only distributions of realized carried interest in excess of the high water mark will be distributed at 80 percent if and only if the unrealized carried interest balance at any period end exceeds the high water mark. Under no circumstance would a distribution of carried interest exceed 80% of the total allocable carried interest at any time. KKR accounts for the carry pool as a compensatory profit-sharing arrangement in Accrued Expenses and Other Liabilities within the accompanying consolidated statements of financial condition in conjunction with the related carried interest income and it is recorded as compensation expense. The liability that is recorded in each period reflects the legal entitlement of Associates Holdings at each point in time should the total unrealized carried interest be realized at the value recorded at each reporting date. Upon a reversal of carried interest income, the related carry pool allocation, if any, is also reversed. Accordingly, such compensation expense is subject to both positive and negative adjustments. Profit Sharing Plan
General, Administrative and Other Expenses	General, Administrative and Other General, administrative and other expense consists primarily of professional fees paid to legal advisors, accountants, advisors and consultants, insurance costs, travel and related expenses, communications and information services, depreciation and amortization charges, broken-deal expenses, placement fees and other general operating expenses. A portion of these general administrative and other expenses, in particular broken-deal expenses, are borne by fund investors. General, Administrative and Other Expenses
Investment Income	Investment Income Investment income consists primarily of the net impact of: i. Realized and unrealized gains and losses on investments, securities sold short, derivatives and debt obligations of consolidated CFEs which are recorded in Net Gains (Losses) from Investment Activities. Upon disposition of an investment, previously recognized unrealized gains or losses are reversed and a realized gain or loss is recognized. ii. Foreign exchange gains and losses relating to mark‑to‑market activity on foreign exchange forward contracts, foreign currency options and foreign denominated debt which are recorded in Net Gains (Losses) from Investment Activities. iii. Dividends, which are recognized on the ex‑dividend date, or, in the absence of a formal declaration of a record date, on the date it is received. iv. Interest income, which is recognized as earned. v.
Investment Credit Losses and Impairment	Investment Credit Losses and Impairment Available-For-Sale Fixed Maturity Securities One of the significant estimates related to AFS securities is the evaluation of those investments for credit losses. The evaluation of investments for credit losses is a quantitative and qualitative quarterly process that is subject to risks and uncertainties and involves significant estimates and judgments by management. Changes in the estimates and judgments used in such analysis can have a significant impact on the consolidated statements of operations. Considerations relevant to the evaluation of credit losses may include the severity of any loss position, as well as changes in market interest rates, changes in business climate, management changes, litigation, government actions, and other similar factors that may impact an issuer’s ability to meet current and future principal and interest obligations. Indicators of credit impairment may also include changes in credit ratings, the frequency of late payments, pricing levels and deterioration in any, or a combination of, key financial ratios, financial statements, revenue forecasts and cash flow projections. For AFS fixed maturity securities in an unrealized loss position, Global Atlantic first considers the intent to sell a security, or whether it is more-likely-than-not that it will be required to sell the security, before the recovery of its amortized cost. If Global Atlantic intends to sell an AFS fixed maturity security with an unrealized loss or it is more-likely-than-not that it will be required to sell an AFS fixed maturity security with an unrealized loss before recovery of its amortized cost basis, the amortized cost is written down to fair value and a corresponding charge is recognized to net investment-related losses. For AFS fixed maturity securities in an unrealized loss position that Global Atlantic does not intend to sell, and will not be required to sell, Global Atlantic bifurcates the impairment into two components: credit impairment and non-credit impairment. Credit impairments are measured as the difference between the security’s cost or amortized cost and its estimated recoverable value, which is the present value of its expected future cash flows discounted at the current effective interest rate. The estimated recoverable value is subject to a floor equal to the fair value of the security. The remaining difference between the security’s fair value and the recoverable value, if any, is the non-credit impairment. Credit impairments are recognized in the allowance for credit losses on AFS fixed maturity securities, which is established via a charge to net investment-related losses in the consolidated statements of operations, and non-credit impairments are charged to accumulated other comprehensive income in the consolidated statements of financial condition. In determining the estimated recoverable value, the review of expected future cash flows for structured securities includes assumptions about key systemic risks (e.g., unemployment rates, housing prices) and loan-specific information (e.g., delinquency rates, loan-to-value ratios). Estimating future cash flows is a quantitative and qualitative process that incorporates information received from third parties, along with assumptions and judgments about the future performance of the underlying collateral. For corporate and government bonds the recoverable value is determined using cash flow estimates that consider facts and circumstances relevant to the security and the issuer, including overall financial strength and secondary sources of repayment as well as pending restructuring or disposition of assets. In periods subsequent to the initial recognition of an allowance for credit losses on a fixed maturity security, whether for a PCD security or a security impaired since purchase, Global Atlantic continues to monitor credit loss expectations. Deterioration in the estimated recoverable value of a credit impaired security is recognized as an addition to the allowance for credit losses, as limited by the amount by which the security’s fair value is less than amortized cost. Improvements in the estimated recoverable value of a credit impaired security or improvements in the fair value of a credit impaired security that limit the amount of the allowance result in reductions in the allowance for credit losses, which are recognized as a credit to net investment-related gains (losses) in the consolidated statements of income. Amounts are charged off against the allowance for credit losses when deemed uncollectible or when Global Atlantic determines that it intends to sell, or more likely than not will be required to sell, the security. Charge-offs are reflected as a decrease in the allowance and a direct write down in the amortized cost of the security. If Global Atlantic recovers all or a portion of an amount previously written off on a credit impaired security, the recovery is recognized as a realized investment gain. Mortgage and Other Loan Receivables Global Atlantic updates its estimate of the expected credit losses on its investments in mortgage and other loan receivables carried at amortized cost each quarter. For loans that share similar risk characteristics, expected credit losses are measured on a pool basis. For loans that do not share similar risk characteristics, expected credit losses are measured individually. Loans subject to individual evaluation include those loans that are collateral dependent, where the borrower is experiencing financial difficulty. For these collateral dependent loans, expected credit losses are measured as the difference between the fair value of the collateral (less costs to sell, where the collateral is to be sold) and the amortized cost basis of the loan. For commercial mortgage loans, the current expected credit losses are estimated using a model that evaluates the probability that each loan will default and estimates the amount of loss given the occurrence of such a default over the life of each loan in the portfolio. The model incorporates historical and current data on the relevant property market and projects potential future paths for each loan’s collateral, considering both the net income to be generated by the collateral real estate and its market value. The model considers how macroeconomic forecasts (such as gross domestic product, unemployment, and interest rates) influence commercial real estate market factors (including vacancy rates, rental and income growth rates, property value changes), and in turn how commercial real estate market conditions, in combination with loan specific information (including debt service coverage and loan to value), drive commercial mortgage loan credit risk. For residential mortgage loans and consumer loans, the current expected credit losses are primarily estimated using a discounted cash flow model. The model considers loan-specific information as well as current, historical and forecasted data relevant to the respective loans, including home prices, interest rates and unemployment. Expected cash flows are projected for each loan and are discounted using the effective interest rate of the respective loan. Any shortfalls between the discounted cash flows and the amortized cost of each individual loan are aggregated to determine the total allowances on the residential mortgage loan and consumer loan portfolios. For certain residential mortgage loans secured by single-family rental properties, current expected credit losses are determined using a model consistent with that described above for commercial mortgage loans. With regard to the use of forecasts in the determination of Global Atlantic’s current expected credit losses, the reversion of forecasts to historical data is based on reversion dynamics that depend on the specific variable and its interaction with the other parameters of the respective model; however, the forecasts generally tend to revert to a long-term equilibrium trend within two to three years from the forecast start date. For the investment in other loan receivables, a variety of methodologies are used to estimate the respective current expected credit losses. These methodologies consider the terms specific to each loan, including the value of any collateral, and evaluate the risk of loss over the life of these loans. Global Atlantic also assesses and measures an allowance for credit losses arising from off-balance sheet commitments, including loan commitments, that are not unconditionally cancellable by Global Atlantic. This allowance for credit losses for off-balance sheet commitments is determined using methods consistent with those used for the associated mortgage and other loan receivable class, as described above, and is recognized in other liabilities in the consolidated statements of financial condition, since there is no funded asset for the committed amount. When all or a portion of a loan is deemed uncollectible, the uncollectible portion of the carrying amount of the loan is charged off against the allowance. If Global Atlantic recovers all or a portion of an amount previously written off on a credit impaired loan, the recovery is recognized as a realized investment gain. Real Assets and Other Investments The determination of the amount of impairment on other classes of investments also requires significant judgment and is based upon a periodic evaluation and assessment of known and inherent risks associated with the respective asset class. Such assessments are revised as conditions change and new information becomes available. Impairment of consolidated real assets carried at depreciated cost is assessed whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. When indicators of impairment are present, a recoverability test is performed to determine if the sum of the estimated undiscounted future cash flows attributable to the assets is greater than the carrying amount. If the undiscounted estimated future cash flows are less than the carrying amount, an impairment loss is recognized based on the amount by which the carrying amount exceeds its estimated fair value. Impairment of investments subject to the equity method of accounting is assessed whenever events or circumstances suggest that the carrying amount may not be recoverable. An impairment charge is recognized in earnings for a decline in value that is determined to be other than temporary and is measured as the difference between the carrying amount and the fair value of the equity method investment as of the balance sheet date.
Deferral and Amortization of Certain Revenues and Expenses	Deferral and Amortization of Certain Revenues and Expenses Deferrals Deferred policy acquisition costs ("DAC") consist of commissions and other costs that are directly related to the successful acquisition of new or renewal life insurance or annuity contracts. DAC is estimated using a group approach, instead of on an individual contract level. DAC groups, or cohorts, are by product type and issue year and consistent with the groups used in estimating the associated insurance liability. DAC is recorded in insurance intangibles in the consolidated statements of financial condition. Value of business acquired ("VOBA") represents the difference between the carrying value of the purchased insurance contract liabilities at the time of the business combination and the estimated fair value of insurance and reinsurance contracts. VOBA can be either positive or negative. Positive VOBA is recorded in insurance intangibles. Negative VOBA is recorded in the same financial statement line in the consolidated statements of financial condition as the associated reserves. For limited-payment products (e.g., payout annuities), gross premiums received in excess of net premiums are deferred at initial recognition as a deferred profit liability (“DPL”). DPL is measured using assumptions consistent with those used in the measurement of the liability for future policy benefits, including discount rate, mortality, lapses, and expenses. DPL is recorded in policy liabilities in the consolidated statements of financial condition. For certain preneed contracts, the gross premium is in excess of the benefit reserve plus additional insurance liability. An unearned front-end load ("UFEL") is established to defer the recognition of this front-end load. UFEL is recorded in policy liabilities in the consolidated statements of financial condition. Amortization DAC is amortized on a constant level basis for the grouped contracts over the expected economic life of the related contracts. Global Atlantic amortizes DAC for all products on a constant level basis based on policy count, except for DAC for traditional life products that are amortized on a constant level basis based on face amount. The constant level bases used for amortization are projected using mortality and lapse assumptions that are based on Global Atlantic's experience, industry data, and other factors and are consistent with those used for the liability for future policy benefits. If those projected assumptions change in future periods, they will be reflected in the cohort level amortization basis at that time. Unexpected lapses, due to higher mortality and lapse experience than expected, are recognized in the current period as a reduction of the capitalized balances. Amortization of DAC is included in amortization of policy acquisition costs in the consolidated statements of operations. VOBA is generally amortized using the same methodology and assumptions used to amortize DAC. DPL is amortized and recognized in proportion to insurance in-force for life insurance contracts and expected future benefit payments for annuity contracts. Interest is accreted on the balance of the DPL using the discount rate determined at contract issuance. Global Atlantic reviews and updates its estimates of cash flows for the DPL at the same time as the estimates of cash flows for the liability for future policy benefits. When cash flows are updated, the updated estimates are used to recalculate the DPL at contract issuance. The recalculated DPL as of the beginning of the current reporting period is compared to the carrying amount of the DPL as of the beginning of the current reporting period, and any difference is recognized as either a charge or credit to net policy benefits and claims. UFEL is amortized consistent with the amortization of DAC on preneed contracts. The key assumptions used in the calculation of the amortization of these balances are reviewed quarterly and updated if actual experience or other evidence suggests that current assumptions should be revised. In addition, Global Atlantic formally reviews assumptions annually as part of the assumptions review process. The effects of changes in assumptions are recorded in net income in the period in which the changes are made. Internal Replacements
Separate Accounts	Separate Accounts Separate account assets and liabilities represent segregated funds administered and invested by Global Atlantic for the benefit of variable annuities and variable universal life insurance contractholders and certain pension funds. Global Atlantic reports separately, as assets and liabilities, investments held in the separate accounts and liabilities of separate accounts if: (1) such separate accounts are legally recognized; (2) assets supporting the contract liabilities are legally insulated from Global Atlantic’s general account liabilities; (3) investments are directed by the contract owner or participant; and (4) all investment performance, net of contract fees and assessments, is passed through to the contract owner.
Policy Liabilities	Policy Liabilities Policy liabilities, or collectively, “reserves,” are the portion of past premiums or assessments received that are set aside to meet future policy and contract obligations as they become due. Interest accrues on these reserves and on future premiums, which may also be available to pay for future obligations. Global Atlantic establishes reserves to pay future policyholder benefits, claims, and certain expenses for its life policies and annuity contracts. Reserves are estimates based on models that include many actuarial assumptions and projections. These assumptions and projections, which are inherently uncertain, involve significant judgment, including assumptions as to the levels and/or timing of premiums, benefits, claims, expenses, interest credits, investment results (including equity market returns), mortality, longevity, and persistency. The assumptions on which reserves are based are intended to represent an estimation of experience for the period that policyholder benefits are payable. The adequacy of these reserves and the assumptions underlying those reserves are reviewed at least annually. Global Atlantic cannot, however, determine with precision the amount or the timing of actual policyholder benefit payments. If actual experience is better than or equal to the assumptions, then reserves would be adequate to provide for future policyholder benefits and expenses. If experience is worse than the assumptions, additional reserves may be required to meet future policy and contract obligations. This would result in a charge to Global Atlantic’s net income during the period in which excess policyholder benefits are paid or an increase in reserves occurs. For a majority of Global Atlantic’s in-force policies, including its universal life policies and most annuity contracts, the base policy reserve is equal to the account value. For these products, the account value represents Global Atlantic’s obligation to repay to the policyholder the amounts held on deposit. However, there are several significant blocks of business where additional policyholder reserves are explicitly calculated, including fixed-indexed annuities, variable annuities, universal life with secondary guarantees, indexed universal life and preneed policies. Annuity Contracts Fixed Indexed Annuities ("FIA") Policy liabilities for fixed-indexed annuities earning a fixed rate of interest and certain other fixed-rate annuity products are computed under a retrospective deposit method and represent policyholder account balances before applicable surrender charges. For certain fixed-rate annuity products, an additional reserve was established for above market interest rate guarantees upon acquisition. These reserves are amortized on a straight-line basis over the remaining guaranteed interest rate period. Certain of Global Atlantic’s fixed-indexed annuity products enable the policyholder to allocate contract value between a fixed crediting rate and strategies which reflect the change in the value of an index, such as the S&P 500 Index or other indices. These products are accounted for as investment-type contracts. The liability for these products consists of a combination of the underlying account value and an embedded derivative value. The liability for the underlying account value is primarily based on policy guarantees and its initial value is the difference between the premium payment and the fair value of the embedded derivative. Thereafter, the account value liability is determined in a manner consistent with the accounting for a deposit liability under the “effective yield method.” All future host balances are determined as: (1) the initial host balance; (2) plus interest; (3) less applicable policyholder benefits. The interest rate used in the prior roll forward is re-determined on each valuation date, per the effective yield method. The embedded derivative component’s fair value is based on an estimate of the policyholders’ expected participation in future increases in the relevant index. The fair value of this embedded derivative component includes assumptions, including those about future interest rates and investment yields, future costs for options used to hedge the contract obligations, projected withdrawal and surrender activity, benefit utilization and the level and limits on contract participation in any future increases in the respective index option. The account value liability and embedded derivative are recorded in policy liabilities in the consolidated statements of financial condition, with changes in value of the liabilities recorded in policy benefits and claims in the consolidated statements of operations. Contractholder deposit funds reserves for certain assumed blocks of fixed-indexed and fixed-rate annuity products are accounted for as investment-type contracts. A net liability (consisting of the benefit reserve plus deferred revenue liability less ceding commission paid between a ceding and assuming reinsurance company) is established at inception and amortized under the effective yield method. Global Atlantic issues registered index-linked annuity ("RILA") contracts, which are similar to FIAs in offering the policyholder the opportunity to participate in the performance of a market index, subject to a cap or adjusted for a participation rate. In contrast to the FIA, the RILA enables policyholders to earn higher returns but with the risk of loss to principal and related earnings. In particular, if performance of the market indices is negative, the policyholder may potentially absorb losses, subject to downside protection in the form of either a "buffer" or a "floor" specified in the contract. A "buffer" is protection from downside performance up to a certain percentage, typically 10 percent, with uncapped losses thereafter. A "floor" is protection from downside performance in excess of the "floor," e.g., if the floor is 10% then the policyholder absorbs losses up to 10% but not in excess. The RILA is accounted for similar to the FIA. The RILA host contract is calculated at the inception of the contract as the value of the initial premium minus the value of the index option, which is an embedded derivative. That initial host value is then accreted to the guaranteed surrender value at the end of the surrender charge period. The RILA index option, which is an embedded derivative, is required to be measured at fair value. Fair value represents the policyholders’ expected participation in future increases in the relevant index and is calculated as the excess cash flows from the indexed crediting feature above the guaranteed cash flows. The excess cash flows are based on the option budget methodology whereby the indexed account is projected to grow by the option budget. A key difference from a standard FIA product is that the RILA policyholder can lose principal on this investment. Therefore, it is possible that the embedded derivative can become negative. The option budget will be calculated depending on the product type and strategy. The growth in the indexed account will be projected based on the value of the options dependent upon the strategy and associated hedge construction. The fair value of this embedded derivative component includes assumptions, including those about future interest rates and investment yields, future costs for options used to hedge the contract obligations, projected withdrawal and surrender activity, benefit utilization and the level and limits on contract participation in any future increases in the respective index option. The account value liability and embedded derivative are recorded in policy liabilities in the consolidated statements of financial condition, with changes in value of the liabilities recorded in policy benefits and claims in the consolidated statements of operations. Variable Annuities Global Atlantic issues and assumes variable annuity contracts for which the liabilities are included in policy liabilities in the consolidated statements of financial condition. The change in the liabilities for these benefits is included in policy benefits and claims in the consolidated statements of operations. Variable annuity contracts may have certain guarantees that are accounted for as market risk benefits, which are discussed in more detail below. Funding Agreements Global Atlantic issues funding agreements to certain unaffiliated special purpose entities that have issued debt securities for which payment of interest and principal is secured by such funding agreements. Global Atlantic also has similar obligations to Federal Home Loan Banks. Global Atlantic’s funding agreements are considered investment type contracts and liabilities are net deposits plus accrued and unpaid interest. Global Atlantic's obligation is reported in policy liabilities in the consolidated statements of financial condition. Interest expense is calculated using the effective interest method and recorded in policy benefits and claims in the consolidated statements of operations. Interest-Sensitive Life Products For universal life policies, the base policy reserve is the policyholder account value. Policy liabilities for indexed universal life with returns linked to the performance of a specified market index are equal to the sum of two components: (1) the fair value of the embedded derivative; and (2) the host (or guaranteed) component. The fair value of the embedded derivative component is based on the fair value of the policyholders’ expected participation in future increases in the relevant index over the life of the contract. The fair value of this embedded derivative component includes assumptions, including those about future interest rates and investment yields, future costs for options used to hedge the contract obligations, projected benefits, benefit utilization and the level and limits on contract participation in any future increases in the respective index option. The initial host balance is established at the time of premium payment and is equal to the total account value less the embedded derivative component. Thereafter, the balance of the host component is determined in a manner consistent with the accounting for a deposit liability under the “effective yield method.” All future host balances are determined as: (1) the initial host balance; (2) plus interest; (3) less applicable policyholder benefits. The interest rate used in the prior roll forward is re-determined on each valuation date, per the effective yield method. Preneed Policies Preneed insurance contracts that feature death benefits with variable growth rates are accounted for as universal life-type contracts, which requires that the retrospective deposit method be used. This includes contracts where Global Atlantic has the discretion to adjust death benefit growth rates up or down, or where death benefit growth rates are tied to inflation as measured by the U.S. Consumer Price Index. The retrospective deposit method establishes a liability for policyholder benefits in an amount determined by the account or contract balance that accrues to the benefit of the policyholder. This account value is deemed to be equal to the contract’s statutory cash surrender value. In addition to the account balance, Global Atlantic establishes an additional reserve for expected future discretionary benefits which is reflected as policy liabilities in KKR's consolidated statements of financial condition. Preneed insurance contracts without a discretionary death benefit growth rate have death benefits which are fixed and guaranteed. For these contracts, Global Atlantic recognizes a liability for future policy benefits. Traditional and Limited Payment Contracts Liability for Future Policy Benefits A liability for future policy benefits, which is the present value of estimated future policy benefits to be paid to or on behalf of policyholders and certain related expenses less the present value of estimated future net premiums to be collected from policyholders, is accrued as premium revenue is recognized. The liability is estimated using current assumptions that include mortality, morbidity, lapses, and expenses. These current assumptions are based on judgments that consider Global Atlantic’s historical experience, industry data, and other factors. For nonparticipating traditional and limited-payment contracts, contracts are grouped into cohorts by contract type and issue year. The liability is adjusted for differences between actual and expected experience. With the exception of the expense assumption, Global Atlantic reviews its historical and future cash flow assumptions quarterly and updates the net premium ratio used to calculate the liability each time the assumptions are changed. Global Atlantic has elected to use expense assumptions that are locked in at contract inception and are not subsequently reviewed or updated. Each quarter, Global Atlantic updates its estimate of cash flows expected over the entire life of a group of contracts using actual historical experience and current future cash flow assumptions. These updated cash flows are discounted using the discount rate or curve on the original contract issue date to calculate the revised net premiums and net premium ratio, which are used to derive an updated liability for future policy benefits. This amount is then compared to the carrying amount of the liability before the updating of cash flow assumptions to determine the current period change in liability estimate. This current period change in the liability is the liability remeasurement gain or loss and is presented parenthetically as a separate component of benefit expense in the consolidated statements of operations. For nonparticipating traditional and limited-payment contracts, the discount rate assumption is a spot rate yield curve that is derived based on upper medium grade (low credit risk) fixed-income instruments with similar duration to the liability. Global Atlantic uses one or more external indices of corporate credit issues as its proxy for these instruments. The discount rate assumption is updated quarterly and used to remeasure the liability at the reporting date, with the resulting change in the discount rate reflected in other comprehensive income. For liability cash flows between two market observable points on the yield curve, Global Atlantic interpolates the effective yield by holding the marginal rates constant. For liability cash flows that are projected beyond the last market-observable point on the yield curve, Global Atlantic uses the last market-observable yield level. Payout Annuities Payout annuities include single premium immediate annuities, annuitizations of deferred annuities, pension risk transfer and structured settlements. These contracts subject the insurer to risks over a period that extends beyond the period or periods in which premiums are collected. These contracts may be either non-life contingent or life contingent. Non-life contingent annuities are accounted for as investment contracts. For life contingent annuities, Global Atlantic records a liability at the present value of future annuity payments and estimated future expenses calculated using expected mortality and costs, and expense assumptions. Any gross premiums received in excess of the net premium is the DPL and is recognized separately in income in a constant relationship with the discounted amount of the insurance in-force or expected future benefit payments. These liabilities are recorded in policy liabilities in the consolidated statements of financial condition. Also included under payout annuities are liabilities for disability income benefits which pertain primarily to disability income policies that are already in claim payout status. Liabilities for disability income benefits are calculated as the present value of future disability payments and estimated future expenses using expected mortality and costs, and interest assumptions. The liabilities are recorded in policy liabilities in the consolidated statements of financial condition. Whole and Term Life Global Atlantic has established liabilities for amounts payable under insurance policies, including whole life insurance and term life insurance policies. These policies provide death benefits in exchange for a guaranteed level premium for a specified period of time and, in the case of whole life, a guaranteed minimum cash surrender value. Generally, liabilities for these policies are calculated as the present value of future expected benefits to be paid, reduced by the present value of future expected net premiums. Current assumptions are used in the establishment of liabilities for future policyholder benefits including mortality, policy lapse, renewal, investment returns, inflation, expenses and other contingent events as appropriate for the respective product. Each quarter, Global Atlantic updates its estimate of cash flows using actual historical experience and current future cash flow assumptions. These updated cash flows are discounted using the discount rate or curve on the original contract issue date to calculate the revised net premiums and net premium ratio, which are used to derive an updated liability for future policy benefits. This amount is then compared to the carrying amount of the liability before the updating of cash flow assumptions to determine the current period change in liability estimate. This current period change in the liability is the liability remeasurement gain or loss and is presented parenthetically as a separate component of benefit expense in the consolidated statements of operations. Policy liabilities for participating whole life insurance policies are equal to the aggregate of: (1) net level premium reserves for death and endowment policyholder benefits (calculated based upon the non-forfeiture interest rate, and mortality rated guarantee in calculating the cash surrender values described in such contracts); and (2) the liability for terminal dividends. Long-Term Care Long-term care policies are purchased by individuals to pay for specified personal care costs, typically in the later stage of life at the onset of a loss of ability to perform certain basic activities of daily living. Policyholders pay ongoing premiums to keep the policy in force and receive benefits in the event their health becomes impaired. Global Atlantic has established liabilities for future policyholder benefits payable under its long-term care policies reinsured. Liabilities for long-term care benefits are calculated as the present value of future expected benefits to be paid reduced by the present value of future expected net premiums. Principal assumptions used in the establishment of liabilities for future policyholder benefits are mortality, morbidity (claim incidence and continuation), lapse, and future interest rates. Long-term care insurance risks assumed by Global Atlantic have been retroceded to a third-party reinsurer in exchange for fixed cash flows. Net of this reinsurance, the long-term care block has the economic profile of a period certain annuity. Product Guarantees Market Risk Benefits Market risk benefits are contracts or contract features that both provide protection to the policyholder from other-than-nominal capital market risk and expose Global Atlantic to other-than-nominal capital market risk. Market risk benefits include certain contract features on fixed annuity and variable annuity products. These features include minimum guarantees to policyholders, such as guaranteed minimum death benefits (“GMDBs”), guaranteed minimum withdrawal benefits (“GMWBs”), and long-term care benefits (which are capped at the return of account value plus one or two times the account value). Market risk benefits are measured at fair value using a non-option and option valuation approach based on current net amounts at risk, market data, experience, and other factors. Changes in fair value are recognized in net income each period with the exception of the portion of the change in fair value due to a change in the instrument-specific credit risk, which is recognized in other comprehensive income. Additional Liability for Annuitization, Death, or Other Insurance Benefits Global Atlantic establishes additional liabilities for contracts or contract features that provide for potential benefits in addition to the account balance but are not market risk benefits or embedded derivatives. These benefits include annuitization benefits and death or other insurance benefits (e.g., universal life secondary guarantees). For these benefits, the liability is the sum of the current benefit ratio multiplied by cumulative assessments and accreted interest, less excess payments. In particular, Global Atlantic holds additional liabilities for universal life products with secondary guarantees, sometimes referred to as no-lapse guarantees. The additional liabilities are measured using the benefit ratio approach where excess benefits are spread over the life of the contract based on assessments collected from the policyholder. Generally, total expected excess benefit payments are the aggregate of death claims after the policyholder account value is exhausted. The exception is when the cost of insurance charges are insufficient to produce consistently positive earnings in the future. In this case, all death benefits are deemed to be excess benefits. For annuitization benefits, the benefit ratio is the present value of expected annuitization payments to be made less the accrued account balance at the expected annuitization date divided by the present value of expected assessments during the accumulation phase of the contract, discounted at the contract rate. Expected annuitization payments and related incremental claim adjustment expenses, expected assessments, and expected excess payments are calculated using discount rate, mortality, lapse, and expense assumptions. Global Atlantic recognizes a shadow reserve adjustment for the additional insurance liabilities when unrealized gains and losses are included in the investment margin while calculating the present value of expected assessments for the benefit ratios. Shadow reserve adjustments are recognized in other comprehensive income. For additional liabilities for death or other insurance benefits, the discount rate assumption is based on the contract rate at inception. The mortality, lapse, and expense assumptions are based on Global Atlantic’s experience, industry data, and other factors. Assumptions are reviewed and updated, if necessary, at least annually. When those assumptions are updated, the benefit ratio and the liability are remeasured, with the resulting gain or loss reflected in total benefits expense.
Outstanding Claims	Outstanding Claims
Closed Blocks	Closed Blocks Through its insurance companies, Global Atlantic has acquired several closed blocks of participating life insurance policies. Global Atlantic has elected to account for the closed block policy liabilities using the fair value option. The assets and cash flow generated by the closed blocks inure solely to the benefit of the holders of policies included in the closed blocks. All closed block assets will ultimately be paid out as policyholder benefits and through policyholder dividends. In the event that the closed blocks’ assets are insufficient to meet the benefits of the closed blocks' benefits, general assets of Global Atlantic would be used to meet the contractual benefits to the closed blocks’ policyholders.
Reinsurance	Reinsurance Consistent with the overall business strategy, Global Atlantic assumes certain policy risks written by other insurance companies on a coinsurance, modified coinsurance or funds withheld coinsurance basis. Reinsurance accounting is applied for these ceded and assumed transactions when risk transfer provisions have been met. To meet risk transfer requirements, a long-duration reinsurance contract must transfer mortality or morbidity risks, and subject the reinsurer to a reasonable possibility of a significant loss. Those contracts that do not meet risk transfer requirements are accounted for using deposit accounting. Global Atlantic seeks to diversify risk and limits its overall financial exposure through reinsurance. With respect to ceded reinsurance, Global Atlantic values reinsurance recoverables on reported claims at the time the underlying claim is recognized in accordance with contract terms. For future policyholder benefits, Global Atlantic estimates the amount of reinsurance recoverables based on the terms of the reinsurance contracts and historical reinsurance recovery information. The reinsurance recoverables are based on what Global Atlantic believes are reasonable estimates and the balance is reported as an asset in the consolidated statements of financial condition. However, the ultimate amount of the reinsurance recoverable is not known until all claims are settled. The cost of reinsurance, which is the difference between the amount paid for a reinsurance contract and the amount of the liabilities for policy benefits relating to the underlying reinsured contracts, is deferred and amortized over the reinsurance contract period for short-duration contracts, or over the terms of the reinsured policies on a basis consistent with the reporting of those policies for long-duration contracts. Generally, Global Atlantic amortizes cost of reinsurance based on policy count or effective yield method, retrospectively calculated based on actual and projected future cash flows. Cost of reinsurance assets and liabilities are reported in insurance intangibles and policy liabilities in the consolidated statements of financial condition, respectively. Reinsurance contracts do not relieve Global Atlantic from its obligations to policyholders, and failure of reinsurers to honor their obligations could result in losses to Global Atlantic; consequently, allowances are established for expected credit losses, via a charge to policy benefits and claims in the consolidated statements of operations. Global Atlantic’s funds withheld receivable at interest and reinsurance recoverable assets are reviewed for expected credit losses by considering credit ratings for each reinsurer, historical insurance industry specific default rate factors, rights of offset, expected recovery rates upon default and the impact of other terms specific to the reinsurance arrangement. For funds withheld and modified coinsurance agreements, Global Atlantic has the right to receive or obligation to pay the total return on assets supporting the funds withheld receivable at interest or funds withheld payable at interest. This indirectly exposes Global Atlantic to the credit risk of the underlying assets. As a result, funds withheld coinsurance and modified coinsurance agreements are viewed as total return swaps and accounted for as embedded derivatives. Embedded derivatives are required to be separated from the host contracts and measured at fair value with changes in fair value recognized in net income. Generally, the embedded derivative is measured as the difference between the fair value of the underlying assets and the carrying value of the host contract at the balance sheet date. The fair value of the embedded derivative is included in the funds withheld receivable at interest or the funds withheld payable at interest on the consolidated statements of financial condition. Changes in the fair value of the embedded derivative are reported in operating activities on the consolidated statements of cash flows.
Recognition of Insurance Revenue and Related Benefits and Insurance Expenses	Recognition of Insurance Revenue and Related Benefits Premiums related to whole life and term life insurance contracts and payout contracts with life contingencies are recognized in premiums in the consolidated statements of operations when due from the contractholders. Amounts received as payment for universal life and investment-type contracts are reported as deposits to contractholder account balances and recorded in policy liabilities in the consolidated statements of financial condition. Amounts received as payment for Global Atlantic’s fixed fund variable annuities are reported as a component of policy liabilities in the consolidated statements of financial condition. Revenues from these contracts consist primarily of fees assessed against the contractholder account balance for mortality, policy administration, separate account administration and surrender charges, and are reported in policy fees in the consolidated statements of operations. Additionally, Global Atlantic earns investment income from the investment of contract deposits in Global Atlantic’s insurance companies' general account portfolio, which is reported in net investment income in the consolidated statements of operations. Fees assessed that represent compensation to Global Atlantic for benefits to be provided in future periods and certain other fees are established as an unearned revenue reserve liability and amortized into revenue over the expected life of the related contracts in a manner consistent with DAC for these contracts. Unearned revenue reserves are reported in policy liabilities in the consolidated statements of financial condition and amortized into policy fees in the consolidated statements of operations. Benefits and expenses for these products include claims in excess of related account balances, expenses for contract administration and interest credited to contractholder account balances in the consolidated statements of operations. Global Atlantic primarily earns revenues from premiums, policy fees, income from investments, and other administration, management, and distribution fees. For the year ended December 31, 2024, Global Atlantic’s revenue was sourced in its entirety from the Americas (100%), based on the geographic region of the reporting subsidiary company. Due to a large block reinsurance transaction during the year ended December 31, 2024, Global Atlantic recognized more than 10% of KKR's total consolidated revenues with one reinsurance counterparty in the period. Predominantly all of Global Atlantic’s fixed assets are located in the United States. Insurance Expenses
Other Income	Other Income
Adoption of New Accounting Pronouncements and Future Application of Accounting Standards	Adoption of New Accounting Pronouncements Targeted Improvements to the Accounting for Long-Duration Contracts Effective January 1, 2023, Global Atlantic adopted new accounting guidance for insurance and reinsurance companies that issue long-duration contracts (“LDTI”), with retrospective application from the 2021 GA Acquisition Date, coinciding with the 2021 GA Acquisition. Accordingly, the financial statements for all prior periods presented were restated to reflect the new accounting guidance. Detailed information regarding the adjustments made to prior period balances can be found in Note 2, “Summary of Significant Accounting Policies” in the 2023 Annual Report. Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions In June 2022, the FASB issued ASU 2022-03, ASC Subtopic 820 “Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions” ("ASU 2022-03"). According to ASU 2022-03, an entity should not consider the contractual sale restriction when measuring the equity security’s fair value and an entity is not allowed to recognize a contractual sale restriction as a separate unit of account. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. KKR adopted this accounting standard effective January 1, 2024 and its adoption on a prospective basis did not have a material impact on KKR's consolidated financial statements. Accounting for Investments in Tax Credit Structures In March 2023, the FASB issued ASU 2023-02 "Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method" ("ASU 2023-02") to expand the population of investments in tax credit structures that may be eligible to apply the proportional amortization method (“PAM”), if certain criteria are met. The election to use the PAM can be made on a tax credit program-by-program basis. Under the new guidance, certain disclosures are required for investments in tax credit programs for which the PAM is elected. The guidance is effective for fiscal years beginning after December 15, 2023. KKR adopted this accounting standard effective January 1, 2024 and its adoption did not have a material impact on KKR's consolidated financial statements. Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07 "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07"). ASU 2023-07 intends to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. KKR adopted this accounting standard effective for the year ended December 31, 2024 and its adoption did not have a material impact on KKR's consolidated financial statements. Refer to Note 21 "Segment Reporting" for the expanded disclosures. Future Application of Accounting Standards Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09 "Improvements to Income Tax Disclosures" ("ASU 2023-09"). ASU 2023-09 intends to enhance the transparency and decision usefulness of income tax disclosures, requiring disaggregated information about an entity’s effective tax rate reconciliation as well as income taxes paid. This is effective for fiscal years beginning after December 15, 2024. KKR is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures. Scope Application of Profits Interest and Similar Awards In March 2024, the FASB issued ASU 2024-01, Compensation-Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards (“ASU 2024-01”). ASU 2024-01 amends the guidance in Accounting Standard Codification 718 (“ASC 718”) by adding an illustrative example to demonstrate and clarify how to apply the scope guidance to determine whether profits interests and similar awards should be accounted for as a share-based payment arrangement under ASC 718 or another standard. ASU 2024-01 will be effective for KKR’s reporting period ended March 31, 2025. KKR is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures. Expense Disaggregation Disclosures In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures . The ASU requires a public business entity to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis including employee compensation, depreciation, and intangible asset amortization for each income statement line item that contains those expenses. The update will be effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027. KKR is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Revenues from Contracts with Customers	The following table summarizes KKR's revenues from contracts with customers: Revenue Type Customer Performance Obligation Performance Obligation Satisfied Over Time or Point In Time (1) Variable or Payment Terms Subject to Return Once Recognized Classification of Uncollected Amounts (2) Management Fees Investment funds, CLOs and other vehicles Investment management services Over time as services are rendered Variable consideration since varies based on fluctuations in the basis of the management fee over time Typically quarterly or annually in arrears No Due from Affiliates Transaction Fees Portfolio companies and third party companies Advisory services and debt and equity arranging and underwriting Point in time when the transaction (e.g. underwriting) is completed Fixed consideration Typically paid on or shortly after transaction closes No Due from Affiliates (portfolio companies) Other Assets (third parties) Monitoring Fees Recurring Fees Portfolio companies Monitoring services Over time as services are rendered Variable consideration since varies based on fluctuations in the basis of the recurring fee Typically quarterly in arrears No Due from Affiliates Termination Fees Portfolio companies Monitoring services Point in time when the termination is completed Fixed consideration Typically paid on or shortly after termination occurs No Due from Affiliates Incentive Fees Investment funds and other vehicles Investment management services that result in achievement of minimum investment return levels Over time as services are rendered Variable consideration since contingent upon the investment fund and other vehicles achieving more than stipulated investment return hurdles Typically paid shortly after the end of the performance measurement period No Due from Affiliates Expense Reimbursements Investment funds and portfolio companies Investment management and monitoring services Point in time when the related expense is incurred Fixed consideration Typically shortly after expense is incurred No Due from Affiliates Consulting Fees Portfolio companies and other companies Consulting and other services Over time as services are rendered Fixed consideration Typically quarterly in arrears No Due from Affiliates (1) For performance obligations satisfied at a point in time, there were no significant judgments made in evaluating when a customer obtains control of the promised service. (2) For amounts classified in Other Assets, see Note 14 "Other Assets and Accrued Expenses and Other Liabilities." For amounts classified in Due from Affiliates, see Note 20 "Related Party Transactions."

REVENUES - ASSET MANAGEMENT A_2

REVENUES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Asset Management and Strategic Holdings Revenues	For the years ended December 31, 2024, 2023, and 2022, respectively, Asset Management and Strategic Holdings revenues consisted of the following: Years Ended December 31, 2024 2023 2022 Management Fees $ 1,994,089 $ 1,843,144 $ 1,682,466 Fee Credits (696,091) (297,936) (532,355) Transaction Fees 1,857,317 1,075,204 1,316,637 Monitoring Fees 187,538 138,339 131,750 Incentive Fees 47,430 29,117 33,537 Expense Reimbursements 152,726 75,687 102,927 Consulting Fees 110,953 100,314 86,665 Total Fees and Other 3,653,962 2,963,869 2,821,627 Carried Interest 3,243,495 2,304,623 (2,068,662) General Partner Capital Interest 314,789 538,814 (431,847) Total Capital Allocation-Based Income (Loss) 3,558,284 2,843,437 (2,500,509) Total Revenues $ 7,212,246 $ 5,807,306 $ 321,118

NET GAINS (LOSSES) FROM INVES_2

NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Total Net Gains (Losses) from Investment Activities	The following table summarizes total Net Gains (Losses) from Investment Activities: For the Year Ended December 31, 2024 Net Realized Gains (Losses) Net Unrealized Gains (Losses) Total Private Equity (1) $ 191,791 $ 1,694,901 $ 1,886,692 Credit (1) (509,690) 279,102 (230,588) Investments of Consolidated CFEs (1) (61,580) 84,799 23,219 Real Assets (1) 287,041 (200,080) 86,961 Equity Method - Other (1) 409,833 606,258 1,016,091 Other Investments (1) (187,015) 109,411 (77,604) Foreign Exchange Forward Contracts and Options (2) 171,330 549,055 720,385 Securities Sold Short (2) (31,912) 13,633 (18,279) Other Derivatives (2) (40,055) 16,332 (23,723) Debt Obligations and Other (3) 17,089 42,610 59,699 Net Gains (Losses) From Investment Activities $ 246,832 $ 3,196,021 $ 3,442,853 For the Year Ended December 31, 2023 Net Realized Gains (Losses) Net Unrealized Gains (Losses) Total Private Equity (1) $ (300,439) $ 2,931,254 $ 2,630,815 Credit (1) (322,067) 505,868 183,801 Investments of Consolidated CFEs (1) (104,196) 1,019,063 914,867 Real Assets (1) (322,894) 16,107 (306,787) Equity Method - Other (1) 327,549 586,125 913,674 Other Investments (1) (329,006) 198,889 (130,117) Foreign Exchange Forward Contracts and Options (2) 155,784 (312,408) (156,624) Securities Sold Short (2) 4,780 (12,872) (8,092) Other Derivatives (2) 11,120 2,383 13,503 Debt Obligations and Other (3) 102,896 (1,132,553) (1,029,657) Net Gains (Losses) From Investment Activities $ (776,473) $ 3,801,856 $ 3,025,383 For the Year Ended December 31, 2022 Net Realized Gains (Losses) Net Unrealized Gains (Losses) Total Private Equity (1) $ 784,736 $ (1,541,242) $ (756,506) Credit (1) (168,025) (470,254) (638,279) Investments of Consolidated CFEs (1) (69,234) (1,437,482) (1,506,716) Real Assets (1) 323,901 220,207 544,108 Equity Method - Other (1) 73,317 (298,100) (224,783) Other Investments (1) 29,490 (661,967) (632,477) Foreign Exchange Forward Contracts and Options (2) 389,371 (26,406) 362,965 Securities Sold Short (2) 89,705 11,010 100,715 Other Derivatives (2) (32,614) 39,404 6,790 Debt Obligations and Other (3) (122,141) 1,200,787 1,078,646 Net Gains (Losses) From Investment Activities $ 1,298,506 $ (2,964,043) $ (1,665,537) (1) See Note 7 "Investments." (2) See Note 8 "Derivatives" and Note 14 "Other Assets and Accrued Expenses and Other Liabilities." (3)

NET INVESTMENT INCOME - INSUR_2

NET INVESTMENT INCOME - INSURANCE (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, All Other Investments [Abstract]
Schedule of Net Investment Income	The components of net investment income were as follows: Years Ended December 31, 2024 2023 2022 Fixed Maturity Securities $ 5,597,124 $ 4,450,917 $ 3,257,226 Mortgage and Other Loan Receivables 2,681,876 1,958,875 1,572,308 Real Assets 815,612 625,707 608,074 Short-Term and Other Investment Income 513,276 309,861 116,884 Income Assumed from Funds Withheld Receivable at Interest 81,335 94,658 91,608 Policy Loans 84,320 37,460 31,433 Income Ceded to Funds Withheld Payable at Interest (2,391,926) (1,363,704) (954,763) Total Investment Income 7,381,617 6,113,774 4,722,770 Less Investment Expenses: Investment Management and Administration 498,733 352,042 364,609 Real Asset Depreciation and Maintenance 204,934 198,385 215,672 Interest Expense on Derivative Collateral and Repurchase Agreements 103,342 48,445 24,243 Net Investment Income $ 6,574,608 $ 5,514,902 $ 4,118,246

NET INVESTMENT-RELATED GAINS _2

NET INVESTMENT-RELATED GAINS (LOSSES) - INSURANCE (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Schedule of Net Investment Gains (Losses)	Net investment-related gains (losses) were as follows: Years Ended December 31, 2024 2023 2022 Realized Gains (Losses) on Available-for-Sale Fixed Maturity Securities $ (567,985) $ (64,140) $ (559,987) Credit Loss Allowances on Available-for-Sale Securities (115,367) (168,899) (57,411) Credit Loss Allowances on Mortgage and Other Loan Receivables (305,770) (210,704) (369,296) Credit Loss Allowances on Unfunded Commitments 30,639 6,321 (34,112) Impairment of Available-for-Sale Fixed Maturity Securities Due to Intent to Sell — (26,741) — Unrealized Gains (Losses) on Fixed Maturity Securities Classified as Trading (735,209) 1,031,227 (2,603,874) Unrealized Gains (Losses) on Other Investments Recognized under the Fair-Value Option and Equity Investments 9,560 (23,540) (60,388) Unrealized Gains (Losses) on Real Assets (167,873) (202,671) 77,755 Realized Gains (Losses) on Real Assets 11,418 71,158 (150,288) Net Gains (Losses) on Derivative Instruments 419,927 (680,717) 2,346,747 Realized Gains (Losses) on Funds Withheld at Interest Payable Portfolio 126,422 25,427 38,074 Realized Gains (Losses) on Funds Withheld at Interest Receivable Portfolio (62,493) (9,193) (3,176) Other Realized Gains (Losses) (66,355) 17,210 57,466 Net Investment-Related Gains (Losses) $ (1,423,086) $ (235,262) $ (1,318,490)
Schedule of Roll-forward of the Allowance for Credit Losses for Fixed Maturity Securities	The table below presents a roll-forward of the allowance for credit losses recognized for fixed maturity securities held by Global Atlantic: Year Ended December 31, 2024 Year Ended December 31, 2023 Corporate Structured Total Corporate Structured Total Balance, as of Beginning of Period $ 49,008 $ 219,704 $ 268,712 $ 1,298 $ 127,034 $ 128,332 Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance 106,038 2,805 108,843 68,166 75,623 143,789 Accretion of Initial Credit Loss Allowance on PCD Securities — 611 611 — 1,191 1,191 Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance (1,089) (19,377) (20,466) (2,843) (13,220) (16,063) Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance 22,184 (15,660) 6,524 (3,966) 29,076 25,110 Balances Charged Off (76,525) (12,377) (88,902) (13,647) — (13,647) Balance, as of End of Period $ 99,616 $ 175,706 $ 275,322 $ 49,008 $ 219,704 $ 268,712 Year Ended December 31, 2022 Corporate Structured Total Balance, as of Beginning of Period $ 3,238 $ 84,895 $ 88,133 Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance 791 68,943 69,734 Initial Credit Loss Allowance Recognized on Purchased Credit Deteriorated ("PCD") Securities — 707 707 Accretion of Initial Credit Loss Allowance on PCD Securities — 1,847 1,847 Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance — (11,925) (11,925) Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance 5,110 (17,433) (12,323) Balances Charged Off (7,841) — (7,841) Balance, as of End of Period $ 1,298 $ 127,034 $ 128,332
Schedule of Changes in the Allowance for Credit Losses for Mortgages and Other Loan Receivables	Changes in the allowance for credit losses on mortgage and other loan receivables held by Global Atlantic are summarized below: Year Ended December 31, 2024 Year Ended December 31, 2023 Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Balance, as of Beginning of Period $ 319,631 $ 107,204 $ 175,608 $ 602,443 $ 227,315 $ 125,825 $ 207,088 $ 560,228 Net Provision (Release) 164,254 5,157 136,359 305,770 113,932 (10,445) 107,217 210,704 Charge-offs (163,478) (5,116) (153,984) (322,578) (21,616) (8,176) (160,465) (190,257) Recoveries of Amounts Previously Charged-off 5,650 — 23,123 28,773 — — 21,768 21,768 Balance, as of End of Period $ 326,057 $ 107,245 $ 181,106 $ 614,408 $ 319,631 $ 107,204 $ 175,608 $ 602,443 Year Ended December 31, 2022 Commercial Mortgage Loans Residential Mortgage Loans Consumer and Other Loan Receivables Total Balance, as of Beginning of Period $ 65,970 $ 72,082 $ 236,025 $ 374,077 Net Provision (Release) 161,345 74,798 133,153 369,296 Charge-offs (1) — (21,055) (162,090) (183,145) Balance, as of End of Period $ 227,315 $ 125,825 $ 207,088 $ 560,228 (1) Consumer and other loan receivables included $12.8 million of recoveries for the year ended December 31, 2022.
Schedule of Proceeds from Voluntary Sales and Gross Gains and Losses for AFS Fixed Maturity Securities	The proceeds from voluntary sales and the gross gains and losses on those sales of available-for-sale ("AFS") fixed maturity securities were as follows: Years Ended December 31, 2024 2023 2022 AFS Fixed Maturity Securities: Proceeds from Voluntary Sales $ 19,370,239 $ 6,687,271 $ 12,050,106 Gross Gains $ 112,264 $ 62,452 $ 21,567 Gross Losses $ (643,899) $ (120,799) $ (569,706)

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Investments [Abstract]
Schedule of Investments	Investments consist of the following: December 31, 2024 December 31, 2023 Asset Management and Strategic Holdings Private Equity $ 34,462,952 $ 32,742,484 Credit 8,054,581 8,274,904 Investments of Consolidated CFEs 27,488,538 24,996,298 Real Assets 13,222,738 12,000,008 Equity Method - Other 8,333,527 8,163,831 Equity Method - Capital Allocation-Based Income 9,798,370 7,877,904 Other Investments 5,092,344 4,579,372 Investments - Asset Management and Strategic Holdings $ 106,453,051 $ 98,634,801 Insurance Fixed Maturity Securities, Available-for-sale, at Fair Value (1) $ 76,259,956 $ 69,414,188 Mortgage and Other Loan Receivables 52,751,077 39,177,927 Fixed Maturity Securities, Trading, at Fair Value (2) 21,419,241 18,805,470 Real Assets (3)(4) 14,078,498 9,342,318 Policy Loans 1,622,958 1,556,030 Other Investments (4)(5) 1,475,156 360,745 Funds Withheld Receivable at Interest 2,537,858 2,713,645 Investments - Insurance (6) $ 170,144,744 $ 141,370,323 Total Investments $ 276,597,795 $ 240,005,124 (1) Amortized cost of $85.6 billion and $78.7 billion, net of credit loss allowances of $275.3 million and $268.7 million, respectively. (2) Amortized cost of $23.8 billion and $20.5 billion, respectively. Trading fixed maturity securities are primarily held to back funds withheld payable at interest. The investment performance on these investments is ceded to third-party reinsurers. (3) Net of accumulated depreciation of $623.1 million and $467.7 million, respectively. (4) Real assets of $1.0 billion and $104.7 million, respectively, and other investments of $682.9 million and $38.6 million, respectively, are accounted for using the equity method of accounting. Global Atlantic's maximum exposure to loss related to these equity method investments is limited to the carrying value of these investments plus unfunded commitments of $23.0 million and $19.7 million, respectively. In addition, Global Atlantic has investments that would otherwise require the equity method of accounting for which the fair value option has been elected. The carrying amount of these investments was $476.3 million and $175.3 million, respectively. (5) Other investments include equity securities, limited partnership interests, investments in FHLB common stock, and other interests. (6)
Schedule of Equity Method Investments	The following table shows summarized financial information relating to the statements of financial condition for all of KKR's equity method investments assuming 100% ownership as of December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Asset Management and Strategic Holdings Total Assets $ 252,104,471 $ 245,172,170 Total Liabilities $ 63,141,812 $ 67,695,320 Total Equity $ 188,962,659 $ 177,476,850 Insurance Total Assets $ 18,317,590 $ 5,643,540 Total Liabilities $ 10,321,725 $ 3,040,471 Total Equity $ 7,995,865 $ 2,603,069 The following table shows summarized financial information relating to the statements of operations for all of KKR's equity method investments assuming 100% ownership for the years ended December 31, 2024, 2023, and 2022: For the Years Ended December 31, 2024 2023 2022 Asset Management and Strategic Holdings Investment Related Revenues $ 17,725,187 $ 17,454,663 $ 28,379,991 Other Revenues 1,300,377 854,595 826,557 Investment Related Expenses 13,254,876 18,623,867 4,297,342 Other Expenses 1,997,379 422,050 223,953 Net Realized and Unrealized Gains (Losses) from Investments 20,646,085 15,795,029 (16,279,901) $ 24,419,394 $ 15,058,370 $ 8,405,352 Insurance Revenues $ 2,555,196 $ 416,360 $ 1,365,222 Expenses 2,610,301 482,056 708,229 $ (55,105) $ (65,696) $ 656,993 Net Income (Loss) $ 24,364,289 $ 14,992,674 $ 9,062,345
Schedule of AFS Fixed Maturity Securities	The cost or amortized cost and fair value for AFS fixed maturity securities were as follows: Cost or Amortized Cost Allowance for Credit Losses (1)(2) Gross Unrealized Fair Value As of December 31, 2024 Gains Losses AFS Fixed Maturity Securities Portfolio by Type: U.S. Government and Agencies $ 2,576,106 $ — $ 227 $ (184,926) $ 2,391,407 U.S. State, Municipal and Political Subdivisions 4,774,108 — 5,290 (1,009,937) 3,769,461 Corporate 48,862,650 (99,616) 119,998 (6,943,765) 41,939,267 Residential Mortgage-backed Securities, or “RMBS” 10,964,553 (115,810) 54,319 (624,040) 10,279,022 Commercial Mortgage-backed Securities, or “CMBS” 8,387,194 (44,024) 28,702 (381,505) 7,990,367 Collateralized Bond Obligations, or “CBOs” 2,487,066 (1,190) — (79,644) 2,406,232 CLOs 4,106,046 (6,620) 24,177 (22,265) 4,101,338 Asset-Backed Securities, or “ABSs” 3,455,133 (8,062) 23,255 (87,464) 3,382,862 Total AFS Fixed Maturity Securities $ 85,612,856 $ (275,322) $ 255,968 $ (9,333,546) $ 76,259,956 (1) Represents the cumulative amount of credit impairments that have been recognized in the consolidated statements of operations (as net investment gains (losses)) or that were recognized as a gross-up of the purchase price of PCD securities. Amount excludes unrealized losses related to non-credit impairment. (2) Includes credit loss allowances on purchase-credit deteriorated fixed maturity securities of $(9.2) million. Cost or Amortized Cost Allowance for Credit Losses (1)(2) Gross Unrealized Fair Value As of December 31, 2023 Gains Losses AFS Fixed Maturity Securities Portfolio by Type: U.S. Government and Agencies $ 1,209,507 $ — $ 62,514 $ (68,929) $ 1,203,092 U.S. State, Municipal and Political Subdivisions 5,562,826 — 29,699 (985,133) 4,607,392 Corporate 46,378,337 (49,008) 211,570 (6,592,143) 39,948,756 RMBS 8,734,629 (152,067) 38,206 (674,550) 7,946,218 CMBS 7,491,743 (35,953) 4,195 (731,358) 6,728,627 CBOs 2,951,511 (1,214) — (143,818) 2,806,479 CLOs 3,493,731 (19,077) 6,483 (52,365) 3,428,772 ABSs 2,901,573 (11,393) 14,358 (159,686) 2,744,852 Total AFS Fixed Maturity Securities $ 78,723,857 $ (268,712) $ 367,025 $ (9,407,982) $ 69,414,188 (1) Represents the cumulative amount of credit impairments that have been recognized in the consolidated statements of operations (as net investment gains (losses)) or that were recognized as a gross-up of the purchase price of PCD securities. Amount excludes unrealized losses related to non-credit impairment. (2) Includes credit loss allowances on purchase-credit deteriorated fixed maturity securities of $(12.8) million. The maturity distribution for AFS fixed maturity securities is as follows: As of December 31, 2024 Cost or Fair Value Due in One Year or Less $ 1,260,728 $ 1,254,003 Due After One Year Through Five Years 12,622,231 12,403,864 Due After Five Years Through Ten Years 9,428,803 9,080,920 Due After Ten Years 32,801,486 25,361,348 Subtotal 56,113,248 48,100,135 RMBS 10,848,743 10,279,022 CMBS 8,343,170 7,990,367 CBOs 2,485,876 2,406,232 CLOs 4,099,426 4,101,338 ABSs 3,447,071 3,382,862 Total AFS Fixed Maturity Securities $ 85,337,534 $ 76,259,956 The following tables provide information about AFS fixed maturity securities that have been continuously in an unrealized loss position: Less Than 12 months 12 months or More Total As of December 31, 2024 Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses AFS Fixed Maturity Securities Portfolio by Type: U.S. Government and Agencies $ 2,150,669 $ (110,280) $ 203,661 $ (74,646) $ 2,354,330 $ (184,926) U.S. State, Municipal and Political Subdivisions 251,191 (4,816) 3,305,469 (1,005,121) 3,556,660 (1,009,937) Corporate 12,959,540 (457,706) 18,491,535 (6,486,059) 31,451,075 (6,943,765) RMBS 2,436,204 (62,488) 3,998,635 (561,552) 6,434,839 (624,040) CMBS 1,006,250 (4,683) 3,737,990 (376,822) 4,744,240 (381,505) CBOs 1,158 (81) 2,405,075 (79,563) 2,406,233 (79,644) CLOs 274,025 (1,630) 293,008 (20,635) 567,033 (22,265) ABSs 739,370 (5,581) 1,309,477 (81,883) 2,048,847 (87,464) Total AFS Fixed Maturity Securities in a Continuous Loss Position $ 19,818,407 $ (647,265) $ 33,744,850 $ (8,686,281) $ 53,563,257 $ (9,333,546) Less Than 12 months 12 months or More Total As of December 31, 2023 Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses AFS Fixed Maturity Securities Portfolio by Type: U.S. Government and Agencies $ 94,807 $ (2,512) $ 198,750 $ (66,417) $ 293,557 $ (68,929) U.S. State, Municipal and Political Subdivisions 112,468 (4,140) 3,829,447 (980,993) 3,941,915 (985,133) Corporate 4,360,234 (189,026) 27,108,292 (6,403,117) 31,468,526 (6,592,143) RMBS 1,371,230 (66,550) 4,354,902 (608,000) 5,726,132 (674,550) CMBS 332,095 (4,535) 6,031,766 (726,823) 6,363,861 (731,358) CBOs 1,867 (118) 2,804,612 (143,700) 2,806,479 (143,818) CLOs 246,728 (868) 1,679,813 (51,497) 1,926,541 (52,365) ABSs 553,438 (15,760) 1,742,373 (143,926) 2,295,811 (159,686) Total AFS Fixed Maturity Securities in a Continuous Loss Position $ 7,072,867 $ (283,509) $ 47,749,955 $ (9,124,473) $ 54,822,822 $ (9,407,982)
Schedule of Certain Loans and Debt Securities Acquired in Transfer	These securities are identified as PCD, and a reconciliation of the difference between the purchase price and the par value of these PCD securities is below. No assets with credit deterioration were purchased during the years ended December 31, 2024 and 2023. Year Ended December 31, 2022 Purchase Price of PCD Securities Acquired During the Current Period $ 24,005 Allowance for Credit Losses at Acquisition 707 Discount Attributable to Other Factors 1,710 Par Value $ 26,422
Schedule of Mortgage and Other Loans Receivable	Mortgage and other loan receivables consist of the following: December 31, 2024 December 31, 2023 Commercial Mortgage Loans (1) $ 25,263,148 $ 21,861,245 Residential Mortgage Loans (1) 21,581,616 12,722,778 Consumer Loans (1) 4,848,208 4,424,882 Other Loan Receivables (1)(2) 1,672,513 771,465 Total Mortgage and Other Loan Receivables $ 53,365,485 $ 39,780,370 Allowance for Credit Losses (3) (614,408) (602,443) Total Mortgage and Other Loan Receivables, Net of Allowance for Credit Losses $ 52,751,077 $ 39,177,927 (1) Includes $1.6 billion and $697.4 million of loans carried at fair value using the fair value option as of December 31, 2024 and 2023, respectively. These loans had unpaid principal balances of $1.8 billion and $785.2 million as of December 31, 2024 and 2023, respectively. (2) As of December 31, 2024, other loan receivables consisted primarily of renewable energy development loans, warehouse facility loans backed by agricultural mortgages, loans collateralized by aircraft and loans collateralized by residential mortgages of $547.2 million, $503.0 million, $271.2 million and $200.0 million, respectively. As of December 31, 2023, other loan receivables consisted primarily of loans collateralized by aircraft and loans collateralized by residential mortgages of $315.4 million and $200.0 million, respectively. (3) Includes credit loss allowances on purchase-credit deteriorated mortgage and other loan receivables of $(72.2) million and $(91.7) million as of December 31, 2024 and 2023, respectively.
Schedule of Maturity Distribution by Contractual Maturity for Residential and Commercial Mortgage Loans	The maturity distribution for residential and commercial mortgage loans was as follows as of December 31, 2024: Years Residential Commercial Total Mortgage Loans 2025 $ 4,935 $ 4,755,929 $ 4,760,864 2026 581,437 6,704,132 7,285,569 2027 602,887 7,321,963 7,924,850 2028 126,129 1,579,826 1,705,955 2029 11,336 1,339,578 1,350,914 Thereafter 20,254,892 3,561,720 23,816,612 Total $ 21,581,616 $ 25,263,148 $ 46,844,764
Schedule of Mortgage Loan Portfolio by Geographic Region and Property Type	The following tables present the mortgage loans by geographic region and property type: Mortgage Loans – Carrying Value by Geographic Region December 31, 2024 December 31, 2023 South Atlantic $ 13,215,065 28.2 % $ 9,653,955 27.9 % Pacific 11,739,093 25.1 % 8,649,256 25.0 % Middle Atlantic 5,841,960 12.5 % 4,436,129 12.8 % West South Central 5,395,952 11.5 % 4,202,501 12.2 % Mountain 4,001,411 8.5 % 3,262,801 9.4 % New England 1,679,335 3.6 % 1,470,741 4.3 % East North Central 1,505,688 3.2 % 1,166,460 3.4 % East South Central 986,070 2.1 % 731,053 2.1 % West North Central 455,503 1.0 % 358,609 1.0 % Foreign and Other Regions 2,024,687 4.3 % 652,518 1.9 % Total by Geographic Region $ 46,844,764 100.0 % $ 34,584,023 100.0 % Mortgage Loans – Carrying Value by Property Type December 31, 2024 December 31, 2023 Residential $ 21,581,616 46.1 % $ 12,722,778 36.8 % Multi-family 12,793,478 27.3 % 11,495,638 33.2 % Industrial 6,357,311 13.6 % 4,415,819 12.8 % Office Building 4,468,303 9.5 % 4,586,277 13.3 % Other Property Types 804,743 1.7 % 578,799 1.7 % Retail 504,812 1.1 % 493,596 1.4 % Warehouse 334,501 0.7 % 291,116 0.8 % Total by Property Type $ 46,844,764 100.0 % $ 34,584,023 100.0 %
Schedule of Receivables by Credit Quality Indicator	The following table represents the portfolio of mortgage and consumer loan receivables by origination year and performance status as of December 31, 2024 and 2023: By Year of Origination Performance Status as of December 31, 2024 2024 2023 2022 2021 2020 Prior Total Commercial Mortgage Loans Gross Charge-offs for the Year Ended December 31, 2024 $ — $ — $ (20,387) $ (80,798) $ (10,695) $ (51,598) $ (163,478) Current $ 4,626,771 $ 3,575,323 $ 6,012,774 $ 6,414,939 $ 559,931 $ 3,899,288 $ 25,089,026 30 to 59 Days Past Due — — — — — — — 60 to 89 Days Past Due — — — — — 42,335 42,335 90 days or More Past Due or in Process of Foreclosure — — — 96,787 — 35,000 131,787 Total Commercial Mortgage Loans $ 4,626,771 $ 3,575,323 $ 6,012,774 $ 6,511,726 $ 559,931 $ 3,976,623 $ 25,263,148 Residential Mortgage Loans Gross Charge-offs for the Year Ended December 31, 2024 $ (15) $ (7) $ (1,308) $ (2,565) $ (524) $ (697) $ (5,116) Current $ 8,277,782 $ 3,958,884 $ 1,948,869 $ 4,010,265 $ 1,192,287 $ 1,470,411 $ 20,858,498 30 to 59 Days Past Due 67,924 89,078 64,113 39,326 6,140 90,891 357,472 60 to 89 Days Past Due 20,388 24,336 10,303 11,554 325 23,597 90,503 90 days or More Past Due or in Process of Foreclosure 9,550 42,672 36,404 64,990 9,235 112,292 275,143 Total Residential Mortgage Loans $ 8,375,644 $ 4,114,970 $ 2,059,689 $ 4,126,135 $ 1,207,987 $ 1,697,191 $ 21,581,616 Consumer Loans Gross Charge-offs for the Year Ended December 31, 2024 $ (1,345) $ (6,896) $ (22,614) $ (73,814) $ (19,872) $ (29,251) $ (153,792) Current $ 592,705 $ 454,890 $ 691,198 $ 1,394,197 $ 566,071 $ 1,050,090 $ 4,749,151 30 to 59 Days Past Due 860 2,444 3,433 22,069 4,090 14,816 47,712 60 to 89 Days Past Due 517 1,194 2,178 10,399 2,299 7,874 24,461 90 days or More Past Due or in Process of Foreclosure 278 2,317 3,351 9,656 2,650 8,632 26,884 Total Consumer Loans $ 594,360 $ 460,845 $ 700,160 $ 1,436,321 $ 575,110 $ 1,081,412 $ 4,848,208 Total Mortgage and Consumer Loan Receivables $ 13,596,775 $ 8,151,138 $ 8,772,623 $ 12,074,182 $ 2,343,028 $ 6,755,226 $ 51,692,972 By Year of Origination Performance Status as of December 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial Mortgage Loans Gross Charge-offs for the Year Ended December 31, 2023 $ — $ — $ — $ — $ (14,000) $ (7,616) $ (21,616) Current $ 3,600,652 $ 6,278,419 $ 6,633,293 $ 624,457 $ 1,395,717 $ 2,969,381 $ 21,501,919 30 to 59 Days Past Due — — — — — — — 60 to 89 Days Past Due — — — — — 79,635 79,635 90 days or More Past Due or in Process of Foreclosure — — 182,069 36,859 — 60,763 279,691 Total Commercial Mortgage Loans $ 3,600,652 $ 6,278,419 $ 6,815,362 $ 661,316 $ 1,395,717 $ 3,109,779 $ 21,861,245 Residential Mortgage Loans Gross Charge-offs for the Year Ended December 31, 2023 $ (6) $ (1,228) $ (2,244) $ (913) $ (1,412) $ (2,373) $ (8,176) Current $ 2,794,600 $ 1,981,373 $ 4,518,357 $ 1,358,200 $ 221,566 $ 1,365,231 $ 12,239,327 30 to 59 Days Past Due 43,432 22,291 37,082 3,554 5,461 84,079 195,899 60 to 89 Days Past Due 8,467 8,520 9,991 1,437 1,389 26,565 56,369 90 days or More Past Due or in Process of Foreclosure 2,518 19,326 72,753 12,048 9,265 115,273 231,183 Total Residential Mortgage Loans $ 2,849,017 $ 2,031,510 $ 4,638,183 $ 1,375,239 $ 237,681 $ 1,591,148 $ 12,722,778 Consumer Loans Gross Charge-offs for the Year Ended December 31, 2023 $ (185) $ (18,117) $ (83,147) $ (23,273) $ (15,740) $ (19,783) $ (160,245) Current $ 109,393 $ 497,113 $ 1,726,280 $ 701,655 $ 610,988 $ 656,270 $ 4,301,699 30 to 59 Days Past Due 1,707 4,229 28,966 5,082 4,497 12,686 57,167 60 to 89 Days Past Due 1,193 2,548 14,872 3,298 2,561 6,756 31,228 90 days or More Past Due or in Process of Foreclosure 2,597 3,991 13,461 4,281 3,907 6,551 34,788 Total Consumer Loans $ 114,890 $ 507,881 $ 1,783,579 $ 714,316 $ 621,953 $ 682,263 $ 4,424,882 Total Mortgage and Consumer Loan Receivables $ 6,564,559 $ 8,817,810 $ 13,237,124 $ 2,750,871 $ 2,255,351 $ 5,383,190 $ 39,008,905
Schedule of Loan-to-Value Ratios	The following table summarizes Global Atlantic's loan-to-value ratios for its commercial mortgage loans as of December 31, 2024 and 2023: Loan-to-value as of December 31, 2024 by Year of Origination Carrying Value Loan-to-value 70% and Less Carrying Value Loan-to-value 71% - 90% Carrying Value Loan-to-value Over 90% Total Carrying Value 2024 $ 4,487,814 $ 138,957 $ — $ 4,626,771 2023 3,575,323 — — 3,575,323 2022 5,646,922 365,852 — 6,012,774 2021 4,931,730 1,429,694 150,302 6,511,726 2020 433,377 91,524 35,030 559,931 2019 1,145,297 54,501 39,308 1,239,106 Prior 2,538,853 53,510 145,154 2,737,517 Total Commercial Mortgage Loans $ 22,759,316 $ 2,134,038 $ 369,794 $ 25,263,148 Loan-to-value as of December 31, 2023 by Year of Origination Carrying Value Loan-to-value 70% and Less Carrying Value Loan-to-value 71% - 90% Carrying Value Loan-to-value Over 90% Total Carrying Value 2023 $ 3,600,652 $ — $ — $ 3,600,652 2022 5,912,623 365,796 — 6,278,419 2021 5,110,011 1,483,763 221,588 6,815,362 2020 496,085 93,210 72,021 661,316 2019 1,257,983 93,661 44,073 1,395,717 2018 881,620 52,640 114,989 1,049,249 Prior 1,991,780 — 68,750 2,060,530 Total Commercial Mortgage Loans $ 19,250,754 $ 2,089,070 $ 521,421 $ 21,861,245
Schedule of Financing Receivable, Troubled Debt Restructuring	The tables below present the carrying value of loans to borrowers experiencing financial difficulty, for which modifications have been granted during the years ended December 31, 2024 and 2023: Year Ended December 31, 2024 by Loan Type Deferral of Amounts Due Interest Rate Relief Maturity Extension Combination (1) Total Percentage of Total Carrying Value Outstanding Commercial Mortgage Loans $ — $ — $ — $ 387,903 $ 387,903 1.54 % Residential Mortgage Loans 4,563 — — 14,227 18,790 0.09 % Consumer Loans 2,795 901 29,865 50,963 84,524 1.74 % Total (2) $ 7,358 $ 901 $ 29,865 $ 453,093 $ 491,217 (1) Includes modifications involving a combination of deferral of amounts due, interest rate relief, or maturity extension. (2) Excludes loans that were modified during the year, but were repaid in full by year end. Year Ended December 31, 2023 by Loan Type Deferral of Amounts Due Interest Rate Relief Maturity Extension Combination (1) Total Percentage of Total Carrying Value Outstanding Commercial Mortgage Loans $ — $ — $ — $ 478,836 $ 478,836 2.19 % Residential Mortgage Loans 1,371 1,206 25,130 8,145 35,852 0.28 % Consumer Loans 6,515 3,768 48,568 18,465 77,316 1.75 % Total (2) $ 7,886 $ 4,974 $ 73,698 $ 505,446 $ 592,004 (1) Includes modifications involving a combination of deferral of amounts due, interest rate relief, or maturity extension. (2) Excludes loans that were modified during the year, but were repaid in full by year end. The table below presents the performance status of the loans modified during the twelve months ended December 31, 2024: Performance Status as of December 31, 2024 by Loan Type Current 30-59 Days Past Due 60-89 Days Past Due 90 days or More Past Due or in Process of Foreclosure Total Commercial Mortgage Loans $ 387,903 $ — $ — $ — $ 387,903 Residential Mortgage Loans 15,461 1,519 158 1,652 18,790 Consumer Loans 63,094 12,867 5,287 3,276 84,524 Total (1) $ 466,458 $ 14,386 $ 5,445 $ 4,928 $ 491,217 (1) Loans may have been modified more than once during the twelve months period; in this circumstance, the loan is only included once in this table. Modified loans that were subsequently repaid are excluded.
Schedule of Repurchase Agreements	The carrying value of assets pledged for repurchase agreements by type of collateral and remaining contractual maturity of the repurchase agreements as of December 31, 2024 and 2023 is presented in the following tables: As of December 31, 2024 Overnight <30 Days 30 - 90 Days > 90 Days Total Residential Mortgage Loans $ — $ 4,266 $ 71,170 $ 195,691 $ 271,127 Total Assets Pledged $ — $ 4,266 $ 71,170 $ 195,691 $ 271,127 As of December 31, 2023 Overnight <30 Days 30 - 90 Days > 90 Days Total AFS Corporate Securities $ — $ — $ 524,411 $ 849,368 $ 1,373,779 Residential Mortgage Loans — 39,289 — — 39,289 Total Assets Pledged $ — $ 39,289 $ 524,411 $ 849,368 $ 1,413,068

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value and Notional Value of Derivative Assets and Liabilities	The fair value and notional value of the derivative assets and liabilities were as follows: As of December 31, 2024 Notional Derivative Derivative Asset Management and Strategic Holdings Foreign Exchange Contracts and Options $ 19,452,993 $ 511,513 $ 131,339 Other Derivatives 455,500 8,444 — Total Asset Management and Strategic Holdings $ 19,908,493 $ 519,957 $ 131,339 Insurance Derivatives Designated as Hedge Accounting Instruments: Interest Rate Contracts $ 15,490,742 $ 41,578 $ 511,118 Foreign Currency Contracts 2,541,093 66,774 28,878 Total Derivatives Designated as Hedge Accounting Instruments $ 18,031,835 $ 108,352 $ 539,996 Derivatives Not Designated as Hedge Accounting Instruments: Equity Market Contracts $ 37,151,092 $ 1,921,164 $ 143,049 Interest Rate Contracts 29,211,430 206,222 561,452 Foreign Currency Contracts 2,887,035 108,929 54,679 Other Contracts 61,508 1,895 194 Total Derivatives Not Designated as Hedge Accounting Instruments $ 69,311,065 $ 2,238,210 $ 759,374 Counterparty Netting (2) — (648,549) (648,549) Cash Collateral — (1,636,662) (261,634) Total Insurance (1) $ 87,342,900 $ 61,351 $ 389,187 Fair Value Included Within Total Assets and Liabilities $ 107,251,393 $ 581,308 $ 520,526 (1) Excludes embedded derivatives. The fair value of these embedded derivatives related to assets was $125.9 million and the fair value of these embedded derivatives related to liabilities was $3.2 billion as of December 31, 2024. (2) Represents netting of derivative exposures covered by qualifying master netting agreements. As of December 31, 2023 Notional Derivative Derivative Asset Management and Strategic Holdings Foreign Exchange Contracts and Options $ 15,771,463 $ 264,621 $ 441,608 Other Derivatives 374,604 4,792 2,382 Total Asset Management and Strategic Holdings $ 16,146,067 $ 269,413 $ 443,990 Insurance Derivatives Designated as Hedge Accounting Instruments: Interest Rate Contracts $ 7,320,500 $ — $ 372,212 Foreign Currency Contracts 2,302,335 24,278 73,478 Total Derivatives Designated as Hedge Accounting Instruments $ 9,622,835 $ 24,278 $ 445,690 Derivatives Not Designated as Hedge Accounting Instruments: Equity Market Contracts $ 35,203,206 $ 1,480,875 $ 248,127 Interest Rate Contracts 22,259,423 284,067 306,244 Foreign Currency Contracts 1,331,345 65,803 56,616 Other Contracts 60,000 — 600 Total Derivatives Not Designated as Hedge Accounting Instruments $ 58,853,974 $ 1,830,745 $ 611,587 Counterparty Netting (2) — (694,250) (694,250) Cash Collateral — (1,115,079) (216,830) Total Insurance (1) $ 68,476,809 $ 45,694 $ 146,197 Fair Value Included Within Total Assets and Liabilities $ 84,622,876 $ 315,107 $ 590,187 (1) Excludes embedded derivatives. The fair value of these embedded derivatives related to assets was $88.7 million and the fair value of these embedded derivatives related to liabilities was $1.6 billion as of December 31, 2023. (2) Represents netting of derivative exposures covered by qualifying master netting agreements.
Schedule of Derivative Liabilities at Fair Value	The following table presents the financial statement classification, carrying amount, and cumulative fair value hedging adjustments for qualifying hedged debt and policy liabilities: As of December 31, 2024 As of December 31, 2023 Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Liabilities (1) Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Liabilities (1) Debt $ 2,279,261 $ (233,202) $ 1,608,294 $ (165,817) Policy Liabilities 4,453,766 (204,435) 4,380,048 (255,308) (1) Includes $193.3 million and $27.8 million of hedging adjustments on discontinued hedging relationships as of December 31, 2024 and 2023, respectively.
Schedule of Derivative Gains and Losses	The following table presents the financial statement classification and amount of gains (losses) recognized on derivative instruments and related hedged items, where applicable. None of the Asset Management and Strategic Holdings derivatives are designated as hedge accounting instruments. The table below includes only derivatives held by Global Atlantic. Year Ended December 31, 2024 Net Investment-Related Gains (Losses) Net Investment Income Net Policy Benefits and Claims Interest Expense Change in AOCI Derivatives Designated as Hedge Accounting Instruments: Fair Value Hedges Gains (Losses) on Derivatives Designated as Hedge Instruments: Interest Rate Contracts $ — $ — $ (108,622) $ (134,580) $ — Foreign Currency Contracts 119,618 4,551 — — (10,977) Total Gains (Losses) on Derivatives Designated as Hedge Instruments $ 119,618 $ 4,551 $ (108,622) $ (134,580) $ (10,977) Gains (Losses) on Hedged Items: Interest Rate Contracts $ — $ — $ 108,622 $ 134,580 $ — Foreign Currency Contracts (117,318) — — — — Total Gains (Losses) on Hedged Items $ (117,318) $ — $ 108,622 $ 134,580 $ — Amortization for Gains (Losses) Excluded from Assessment of Effectiveness: Foreign Currency Contracts $ 20,145 $ — $ — $ — $ — Total Amortization for Gains (Losses) Excluded from Assessment of Effectiveness $ 20,145 $ — $ — $ — $ — Total Gains (Losses) on Fair Value Hedges, Net of Hedged Items $ 22,445 $ 4,551 $ — $ — $ (10,977) Cash Flow Hedges Interest Rate Contracts $ — $ (6,043) $ — $ — $ (183,626) Total Gains (Losses) on Cash Flow Hedges $ — $ (6,043) $ — $ — $ (183,626) Net Investment Hedges Gains (Losses) on Derivatives Designated as Hedge Instruments $ — $ 1,388 $ — $ — $ (25,344) Total Gains (Losses) on Net Investment Hedges $ — $ 1,388 $ — $ — $ (25,344) Derivatives Not Designated as Hedge Accounting Instruments: Insurance Embedded Derivatives - Funds Withheld Receivable $ 37,226 $ — $ — $ — $ — Embedded Derivatives - Funds Withheld Payable 350,241 — — — — Equity Index Options 567,543 — — — — Equity Future Contracts (87,484) — — — — Interest Rate Contracts (569,315) — — — — Foreign Exchange and Other Derivative Contracts 99,271 — — — — Total Gains (Losses) on Derivatives Not Designated as Hedge Accounting Instruments from Insurance Activities $ 397,482 $ — $ — $ — $ — Total $ 419,927 $ (104) $ — $ — $ (219,947) Year Ended December 31, 2023 Net Investment-Related Gains (Losses) Net Investment Income Net Policy Benefits and Claims Interest Expense Change in AOCI Derivatives Designated as Hedge Accounting Instruments: Fair Value Hedges Gains (Losses) on Derivatives Designated as Hedge Instruments: Interest Rate Contracts $ — $ — $ (53,870) $ (20,410) $ — Foreign Currency Contracts (88,384) — — — 9,119 Total Gains (Losses) on Derivatives Designated as Hedge Instruments $ (88,384) $ — $ (53,870) $ (20,410) $ 9,119 Gains (Losses) on Hedged Items: Interest Rate Contracts $ — $ — $ 53,870 $ 20,410 $ — Foreign Currency Contracts 80,210 — — — — Total Gains (Losses) on Hedged Items $ 80,210 $ — $ 53,870 $ 20,410 $ — Amortization for Gains (Losses) Excluded from Assessment of Effectiveness: Foreign Currency Contracts $ 28,345 $ — $ — $ — $ — Total Amortization for Gains (Losses) Excluded from Assessment of Effectiveness $ 28,345 $ — $ — $ — $ — Total Gains (Losses) on Fair Value Hedges, Net of Hedged Items $ 20,171 $ — $ — $ — $ 9,119 Cash Flow Hedges Interest Rate Contracts $ — $ (1,381) $ — $ — $ 33,446 Total Gains (Losses) on Cash Flow Hedges $ — $ (1,381) $ — $ — $ 33,446 Derivatives Not Designated as Hedge Accounting Instruments: Insurance Embedded Derivatives - Funds Withheld Receivable $ 75,876 $ — $ — $ — $ — Embedded Derivatives - Funds Withheld Payable (1,040,463) — — — — Equity Index Options 482,121 — — — — Equity Future Contracts (116,766) — — — — Interest Rate and Foreign Exchange Contracts (101,376) — — — — Other (280) — — — — Total Gains (Losses) on Derivatives Not Designated as Hedge Accounting Instruments from Insurance Activities $ (700,888) $ — $ — $ — $ — Total $ (680,717) $ (1,381) $ — $ — $ 42,565 Year Ended December 31, 2022 Net Investment-Related Gains (Losses) Net Investment Income Net Policy Benefits and Claims Interest Expense Change in AOCI Derivatives Designated as Hedge Accounting Instruments: Fair Value Hedges Gains (Losses) on Derivatives Designated as Hedge Instruments: Interest Rate Contracts $ — $ — $ (382,376) $ (177,855) $ — Foreign Currency Contracts 64,945 — — — (6,784) Total Gains (Losses) on Derivatives Designated as Hedge Instruments $ 64,945 $ — $ (382,376) $ (177,855) $ (6,784) Gains (Losses) on Hedged Items: Interest Rate Contracts $ — $ — $ 382,376 $ 177,855 $ — Foreign Currency Contracts (61,785) — — — — Total Gains (Losses) on Hedged Items $ (61,785) $ — $ 382,376 $ 177,855 $ — Amortization for Gains (Losses) Excluded from Assessment of Effectiveness: Foreign Currency Contracts $ 14,737 $ — $ — $ — $ — Total Amortization for Gains (Losses) Excluded from Assessment of Effectiveness $ 14,737 $ — $ — $ — $ — Total Gains (Losses) on Fair Value Hedges, Net of Hedged Items $ 17,897 $ — $ — $ — $ (6,784) Cash Flow Hedges Interest Rate Contracts $ 1,032 $ — $ — $ — $ (169,785) Total Gains (Losses) on Cash Flow Hedges $ 1,032 $ — $ — $ — $ (169,785) Derivatives Not Designated as Hedge Accounting Instruments: Insurance Embedded Derivatives - Funds Withheld Receivable $ (29,390) $ — $ — $ — $ — Embedded Derivatives - Funds Withheld Payable 3,448,710 — — — — Equity Index Options (895,602) — — — — Equity Future Contracts 167,924 — — — — Interest Rate and Foreign Exchange Contracts (333,937) — — — — Credit Risk Contracts (108) — — — — Other (29,779) — — — — Total Gains (Losses) on Derivatives Not Designated as Hedge Accounting Instruments from Insurance Activities $ 2,327,818 $ — $ — $ — $ — Total $ 2,346,747 $ — $ — $ — $ (176,569)
Schedule of Offsetting Assets	The amount of Global Atlantic's net derivative assets and liabilities after consideration of collateral received or pledged were as follows: As of December 31, 2024 Gross Amount Recognized Gross Amounts Offset in the Statements of Financial Position (1) Net Amounts Presented in the Statements of Financial Condition Collateral (Received) / Pledged Net Amount after Collateral Derivative Assets (Excluding Embedded Derivatives) $ 2,346,562 $ (2,285,211) $ 61,351 $ (157,782) $ (96,431) Derivative Liabilities (Excluding Embedded Derivatives) $ 1,299,370 $ (910,183) $ 389,187 $ 504,665 $ (115,478) (1) Represents netting of derivative exposures covered by qualifying master netting agreements. As of December 31, 2023 Gross Amount Recognized Gross Amounts Offset in the Statements of Financial Position (1) Net Amounts Presented in the Statements of Financial Condition Collateral (Received) / Pledged Net Amount after Collateral Derivative Assets (Excluding Embedded Derivatives) $ 1,855,023 $ (1,809,329) $ 45,694 $ (45,095) $ 599 Derivative Liabilities (Excluding Embedded Derivatives) $ 1,057,277 $ (911,080) $ 146,197 $ 167,973 $ (21,776) (1) Represents netting of derivative exposures covered by qualifying master netting agreements.
Schedule of Offsetting Liabilities	The amount of Global Atlantic's net derivative assets and liabilities after consideration of collateral received or pledged were as follows: As of December 31, 2024 Gross Amount Recognized Gross Amounts Offset in the Statements of Financial Position (1) Net Amounts Presented in the Statements of Financial Condition Collateral (Received) / Pledged Net Amount after Collateral Derivative Assets (Excluding Embedded Derivatives) $ 2,346,562 $ (2,285,211) $ 61,351 $ (157,782) $ (96,431) Derivative Liabilities (Excluding Embedded Derivatives) $ 1,299,370 $ (910,183) $ 389,187 $ 504,665 $ (115,478) (1) Represents netting of derivative exposures covered by qualifying master netting agreements. As of December 31, 2023 Gross Amount Recognized Gross Amounts Offset in the Statements of Financial Position (1) Net Amounts Presented in the Statements of Financial Condition Collateral (Received) / Pledged Net Amount after Collateral Derivative Assets (Excluding Embedded Derivatives) $ 1,855,023 $ (1,809,329) $ 45,694 $ (45,095) $ 599 Derivative Liabilities (Excluding Embedded Derivatives) $ 1,057,277 $ (911,080) $ 146,197 $ 167,973 $ (21,776) (1) Represents netting of derivative exposures covered by qualifying master netting agreements.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities at Fair Value	The following tables summarize the valuation of assets and liabilities measured and reported at fair value by the fair value hierarchy. Investments classified as Equity Method - Other, for which the fair value option has not been elected, and Equity Method - Capital Allocation-Based Income have been excluded from the tables below. Assets, at fair value: December 31, 2024 Level I Level II Level III Total Asset Management and Strategic Holdings Private Equity $ 816,229 $ 523,274 $ 33,123,449 $ 34,462,952 Credit — 3,249,173 4,805,408 8,054,581 Investments of Consolidated CFEs — 27,488,538 — 27,488,538 Real Assets 436,546 261,902 12,524,290 13,222,738 Equity Method - Other 162,950 264,284 1,405,300 1,832,534 Other Investments 179,102 64,391 4,848,851 5,092,344 Total Investments $ 1,594,827 $ 31,851,562 $ 56,707,298 $ 90,153,687 Foreign Exchange Contracts and Options — 511,513 — 511,513 Other Derivatives 42 8,402 — 8,444 Total Assets at Fair Value - Asset Management and Strategic Holdings $ 1,594,869 $ 32,371,477 $ 56,707,298 $ 90,673,644 Insurance AFS Fixed Maturity Securities: U.S. Government and Agencies $ — $ 2,391,407 $ — $ 2,391,407 U.S. State, Municipal and Political Subdivisions — 3,769,461 — 3,769,461 Corporate — 32,585,117 9,354,150 41,939,267 Structured Securities — 25,851,177 2,308,644 28,159,821 Total AFS Fixed Maturity Securities $ — $ 64,597,162 $ 11,662,794 $ 76,259,956 Trading Fixed Maturity Securities: U.S. Government and Agencies $ — $ 2,425,469 $ — $ 2,425,469 U.S. State, Municipal and Political Subdivisions — 380,175 — 380,175 Corporate — 10,132,588 1,322,304 11,454,892 Structured Securities — 6,399,502 759,203 7,158,705 Total Trading Fixed Maturity Securities $ — $ 19,337,734 $ 2,081,507 $ 21,419,241 Mortgage and Other Loan Receivables — — 1,611,109 1,611,109 Real Assets — — 8,121,139 (1) 8,121,139 Other Investments 207,281 269,250 103,823 (1) 580,354 Funds Withheld Receivable at Interest — — 125,887 125,887 Reinsurance Recoverable — — 940,731 940,731 Derivative Assets: Equity Market Contracts 5,475 1,915,689 — 1,921,164 Interest Rate Contracts — 247,800 — 247,800 Other Contracts — 1,895 — 1,895 Foreign Currency Contracts — 175,703 — 175,703 Counterparty Netting and Cash Collateral (159) (2,285,052) — (2) (2,285,211) Total Derivative Assets $ 5,316 $ 56,035 $ — $ 61,351 Separate Account Assets 3,981,060 — — 3,981,060 Total Assets at Fair Value - Insurance $ 4,193,657 $ 84,260,181 $ 24,646,990 $ 113,100,828 Total Assets at Fair Value $ 5,788,526 $ 116,631,658 $ 81,354,288 $ 203,774,472 December 31, 2023 Level I Level II Level III Total Asset Management and Strategic Holdings Private Equity $ 1,762,257 $ 58,653 $ 30,921,574 $ 32,742,484 Credit 281,626 2,540,362 5,452,916 8,274,904 Investments of Consolidated CFEs — 24,996,298 — 24,996,298 Real Assets 676,808 27,567 11,295,633 12,000,008 Equity Method - Other 418,791 326,835 1,537,962 2,283,588 Other Investments 218,151 95,453 4,265,768 4,579,372 Total Investments $ 3,357,633 $ 28,045,168 $ 53,473,853 $ 84,876,654 Foreign Exchange Contracts and Options — 264,621 — 264,621 Other Derivatives — 4,792 — 4,792 Total Assets at Fair Value - Asset Management and Strategic Holdings $ 3,357,633 $ 28,314,581 $ 53,473,853 $ 85,146,067 Insurance AFS Fixed Maturity Securities: U.S. Government and Agencies $ 1,082,421 $ 120,671 $ — $ 1,203,092 U.S. State, Municipal and Political Subdivisions — 4,607,392 — 4,607,392 Corporate — 31,377,753 8,571,003 39,948,756 Structured Securities — 21,824,948 1,830,000 23,654,948 Total AFS Fixed Maturity Securities $ 1,082,421 $ 57,930,764 $ 10,401,003 $ 69,414,188 Trading Fixed Maturity Securities: U.S. Government and Agencies $ 2,354,194 $ 163,919 $ — $ 2,518,113 U.S. State, Municipal and Political Subdivisions — 1,223,946 — 1,223,946 Corporate — 9,815,909 656,923 10,472,832 Structured Securities — 3,997,341 593,238 4,590,579 Total Trading Fixed Maturity Securities $ 2,354,194 $ 15,201,115 $ 1,250,161 $ 18,805,470 Mortgage and Other Loan Receivables — — 697,402 697,402 Real Assets — — 4,815,265 (1) 4,815,265 Other Investments 4,215 — 126,008 (1) 130,223 Funds Withheld Receivable at Interest — — 88,661 88,661 Reinsurance Recoverable — — 926,035 926,035 Derivative Assets: Equity Market Contracts 1,669 1,479,206 — 1,480,875 Interest Rate Contracts 19,474 264,593 — 284,067 Foreign Currency Contracts — 90,081 — 90,081 Counterparty Netting and Cash Collateral (23,522) (1,785,807) — (2) (1,809,329) Total Derivative Assets $ (2,379) $ 48,073 $ — $ 45,694 Separate Account Assets 4,107,000 — — 4,107,000 Total Assets at Fair Value - Insurance $ 7,545,451 $ 73,179,952 $ 18,304,535 $ 99,029,938 Total Assets at Fair Value $ 10,903,084 $ 101,494,533 $ 71,778,388 $ 184,176,005 (1) Real assets and other investments excluded from the fair value hierarchy table include certain funds for which fair value is measured at net asset value per share as a practical expedient. As of December 31, 2024 and 2023, the fair value of these real assets were $34.5 million and $132.6 million, respectively, and other investments were $4.3 million and $5.9 million, respectively. These fund investments have strategies primarily focused on real assets (primarily real estate) or other investments and are subject to certain restrictions on redemption. As of December 31, 2024, there were $1.3 million and $1.5 million of unfunded commitments associated with these real assets and other investments, respectively. (2) Represents netting of derivative exposures covered by qualifying master netting agreements. Liabilities, at fair value: December 31, 2024 Level I Level II Level III Total Asset Management and Strategic Holdings Securities Sold Short $ 109,168 $ — $ — $ 109,168 Foreign Exchange Contracts and Options — 131,339 — 131,339 Unfunded Revolver Commitments — — 96,848 (1) 96,848 Other Derivatives — — — — Debt Obligations of Consolidated CFEs — 27,150,809 — 27,150,809 Total Liabilities at Fair Value - Asset Management and Strategic Holdings $ 109,168 $ 27,282,148 $ 96,848 $ 27,488,164 Insurance Policy Liabilities (Including Market Risk Benefits) $ — $ — $ 1,279,794 (3) $ 1,279,794 Closed Block Policy Liabilities — — 988,320 988,320 Funds Withheld Payable at Interest — — (2,797,544) (2,797,544) Derivative Instruments Payable: Equity Market Contracts 508 142,541 — 143,049 Interest Rate Contracts 89 1,072,481 — 1,072,570 Foreign Currency Contracts — 83,557 — 83,557 Other Contracts — 194 — 194 Counterparty Netting and Cash Collateral (159) (910,024) — (2) (910,183) Total Derivative Instruments Payable $ 438 $ 388,749 $ — $ 389,187 Embedded Derivative – Interest-sensitive Life Products — — 491,818 491,818 Embedded Derivative – Annuity Products — — 5,481,063 5,481,063 Total Liabilities at Fair Value - Insurance $ 438 $ 388,749 $ 5,443,451 $ 5,832,638 Total Liabilities at Fair Value $ 109,606 $ 27,670,897 $ 5,540,299 $ 33,320,802 December 31, 2023 Level I Level II Level III Total Asset Management and Strategic Holdings Securities Sold Short $ 149,136 $ — $ — $ 149,136 Foreign Exchange Contracts and Options — 441,608 — 441,608 Unfunded Revolver Commitments — — 94,683 (1) 94,683 Other Derivatives 143 2,239 — 2,382 Debt Obligations of Consolidated CFEs — 25,276,404 — 25,276,404 Total Liabilities at Fair Value - Asset Management and Strategic Holdings $ 149,279 $ 25,720,251 $ 94,683 $ 25,964,213 Insurance Policy Liabilities (Including Market Risk Benefits) $ — $ — $ 1,474,970 (3) $ 1,474,970 Closed Block Policy Liabilities — — 968,554 968,554 Funds Withheld Payable at Interest — — (2,447,303) (2,447,303) Derivative Instruments Payable: Equity Market Contracts 7,088 241,039 — 248,127 Interest Rate Contracts 17,931 660,525 — 678,456 Foreign Currency Contracts — 130,094 — 130,094 Other Contracts — 600 — 600 Counterparty Netting and Cash Collateral (23,522) (887,558) — (2) (911,080) Total Derivative Instruments Payable $ 1,497 $ 144,700 $ — $ 146,197 Embedded Derivative – Interest-sensitive Life Products — — 458,302 458,302 Embedded Derivative – Annuity Products — — 3,587,371 3,587,371 Total Liabilities at Fair Value - Insurance $ 1,497 $ 144,700 $ 4,041,894 $ 4,188,091 Total Liabilities at Fair Value $ 150,776 $ 25,864,951 $ 4,136,577 $ 30,152,304 (1) These unfunded revolver commitments are valued using the same valuation methodologies as KKR's Level III credit investments. (2) Represents netting of derivative exposures covered by qualifying master netting agreements. (3) Includes market risk benefit of $1.0 billion and $1.1 billion as of December 31, 2024 and 2023, respectively.
Schedule of Changes in Assets and Liabilities Reported at Fair Value for which Level III Inputs have been used to Determine Fair Value	The following tables summarize changes in assets and liabilities measured and reported at fair value for which Level III inputs have been used to determine fair value for the years ended December 31, 2024 and 2023, respectively. For the Year Ended December 31, 2024 Balance, Beg. of Period Transfers In / (Out) - Changes in Consolidation Transfers Transfers Out Net Purchases/Issuances/Sales/Settlements Net Unrealized and Realized Gains (Losses) Change in OCI Balance, End of Period Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date Assets Asset Management and Strategic Holdings Private Equity $ 30,921,574 $ (1,064,234) $ 9,042 $ (412,552) $ 1,533,345 $ 2,136,275 $ — $ 33,123,449 $ 2,105,048 $ — Credit 5,452,916 151,713 185,716 (115,891) (589,790) (279,256) — 4,805,408 (131,728) — Real Assets 11,295,633 934,530 — — 181,621 112,506 — 12,524,290 18,321 — Equity Method - Other 1,537,962 — — (62,977) (51,372) (18,313) — 1,405,300 (24,713) — Other Investments 4,265,768 — — (8,106) 655,179 (64,167) 177 4,848,851 (158,715) 177 Total Assets - Asset Management and Strategic Holdings $ 53,473,853 $ 22,009 $ 194,758 $ (599,526) $ 1,728,983 $ 1,887,045 $ 177 $ 56,707,298 $ 1,808,213 $ 177 Insurance AFS Fixed Maturity Securities: Corporate Fixed Maturity Securities $ 8,571,003 $ — $ — $ (301) $ 822,496 $ (144,561) $ 105,513 $ 9,354,150 $ — $ 39,834 Structured Securities 1,830,000 — 95,965 (53,297) 347,284 36,153 52,539 2,308,644 — 68,924 Total AFS Fixed Maturity Securities $ 10,401,003 $ — $ 95,965 $ (53,598) $ 1,169,780 $ (108,408) $ 158,052 $ 11,662,794 $ — $ 108,758 Trading Fixed Maturity Securities: Corporate Fixed Maturity Securities 656,923 — 1,416 — 608,282 55,683 — 1,322,304 17,563 — Structured Securities 593,238 — 123,566 (66,767) 67,404 41,762 — 759,203 21,901 — Total Trading Fixed Maturity Securities $ 1,250,161 $ — $ 124,982 $ (66,767) $ 675,686 $ 97,445 $ — $ 2,081,507 $ 39,464 $ — Mortgage and Other Loan Receivables 697,402 — — — 877,418 36,289 — 1,611,109 44,887 — Real Assets 4,815,265 — — — 3,412,986 (107,112) — 8,121,139 (117,906) — Other Investments 126,008 — — — 4,067 (26,252) — 103,823 (52,911) — Funds Withheld Receivable at Interest 88,661 — — — — 37,226 — 125,887 — — Reinsurance Recoverable 926,035 — — — (4,514) 19,210 — 940,731 — — Total Assets - Insurance $ 18,304,535 $ — $ 220,947 $ (120,365) $ 6,135,423 $ (51,602) $ 158,052 $ 24,646,990 $ (86,466) $ 108,758 Total $ 71,778,388 $ 22,009 $ 415,705 $ (719,891) $ 7,864,406 $ 1,835,443 $ 158,229 $ 81,354,288 $ 1,721,747 $ 108,935 For the Year Ended December 31, 2023 Balance, Beg. of Period Transfers In / (Out) - Changes in Consolidation (1) Transfers In Transfers Out Net Purchases/Issuances/Sales/Settlements Net Unrealized and Realized Gains (Losses) Change in OCI Balance, End of Period Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date Assets Asset Management and Strategic Holdings Private Equity $ 25,336,957 $ 286,848 $ 33,231 $ (29,417) $ 3,693,726 $ 1,600,229 $ — $ 30,921,574 $ 1,696,643 $ — Credit 5,786,026 — 253,572 (188,710) (470,131) 72,159 — 5,452,916 116,478 — Real Assets 17,015,112 (8,962,252) — (628) 3,643,071 (399,670) — 11,295,633 (434,545) — Equity Method - Other 1,624,420 — — (2,335) (343,597) 259,474 — 1,537,962 260,584 — Other Investments 3,334,366 — 22,777 (22,376) 1,025,854 (94,853) — 4,265,768 (70,060) — Other Derivatives — — — — 2,153 (2,153) — — — — Total Assets - Asset Management and Strategic Holdings $ 53,096,881 $ (8,675,404) $ 309,580 $ (243,466) $ 7,551,076 $ 1,435,186 $ — $ 53,473,853 $ 1,569,100 $ — Insurance AFS Fixed Maturity Securities: Corporate Fixed Maturity Securities $ 8,310,657 $ — $ 108,323 $ — $ 57,480 $ 50,066 $ 44,477 $ 8,571,003 $ — $ 55,176 Structured Securities 1,419,441 — 275,347 (15,666) 63,618 19,789 67,471 1,830,000 — 60,873 Total AFS Fixed Maturity Securities $ 9,730,098 $ — $ 383,670 $ (15,666) $ 121,098 $ 69,855 $ 111,948 $ 10,401,003 $ — $ 116,049 Trading Fixed Maturity Securities: Corporate Fixed Maturity Securities 672,023 — — (188) (508) (14,404) — 656,923 (10,951) — Structured Securities 643,811 — 11,971 (11,878) (46,528) (4,138) — 593,238 5,338 — Total Trading Fixed Maturity Securities $ 1,315,834 $ — $ 11,971 $ (12,066) $ (47,036) $ (18,542) $ — $ 1,250,161 $ (5,613) $ — Mortgage and Other Loan Receivables 787,515 — — — (89,548) (565) — 697,402 (1,637) — Real Assets 4,757,964 — — — 267,328 (210,027) — 4,815,265 (193,775) — Other Investments 141,763 — — — 7,319 (23,074) — 126,008 (23,645) — Funds Withheld Receivable at Interest 12,785 — — — — 75,876 — 88,661 — — Reinsurance Recoverable 981,775 — — — (7,200) (48,540) — 926,035 — — Total Assets - Insurance $ 17,727,734 $ — $ 395,641 $ (27,732) $ 251,961 $ (155,017) $ 111,948 $ 18,304,535 $ (224,670) $ 116,049 Total $ 70,824,615 $ (8,675,404) $ 705,221 $ (271,198) $ 7,803,037 $ 1,280,169 $ 111,948 $ 71,778,388 $ 1,344,430 $ 116,049 (1) For transfers (out) - changes in consolidation, in certain instances, KKR's economic interests became insignificant and certain investment vehicles are no longer consolidated as a result of additional amounts subscribed for by third party investors. For the Year Ended December 31, 2024 Purchases Issuances Sales Settlements Net Purchases/ Issuances/ Sales/ Settlements Assets Asset Management and Strategic Holdings Private Equity $ 2,818,924 $ — $ (1,285,579) $ — $ 1,533,345 Credit 1,501,339 — (1,695,729) (395,400) (589,790) Real Assets 1,954,238 — (1,772,617) — 181,621 Equity Method - Other 4,087 — (55,459) — (51,372) Other Investments 3,636,756 — (2,889,368) (92,209) 655,179 Total Assets - Asset Management and Strategic Holdings $ 9,915,344 $ — $ (7,698,752) $ (487,609) $ 1,728,983 Insurance AFS Fixed Maturity Securities: Corporate Fixed Maturity Securities $ 3,852,070 $ — $ (1,239,285) $ (1,790,289) $ 822,496 Structured Securities 995,608 — (11,931) (636,393) 347,284 Total AFS Fixed Maturity Securities $ 4,847,678 $ — $ (1,251,216) $ (2,426,682) $ 1,169,780 Trading Fixed Maturity Securities: Corporate Fixed Maturity Securities 1,132,431 — (224,710) (299,439) 608,282 Structured Securities 355,892 — (209,172) (79,316) 67,404 Total Trading Fixed Maturity Securities $ 1,488,323 $ — $ (433,882) $ (378,755) $ 675,686 Mortgage and Other Loan Receivables 1,065,772 — (2,487) (185,867) 877,418 Real Assets 3,431,726 — (18,740) — 3,412,986 Other Investments 4,465 — — (398) 4,067 Reinsurance Recoverable — — — (4,514) (4,514) Total Assets - Insurance $ 10,837,964 $ — $ (1,706,325) $ (2,996,216) $ 6,135,423 Total $ 20,753,308 $ — $ (9,405,077) $ (3,483,825) $ 7,864,406 For the Year Ended December 31, 2023 Purchases Issuances Sales Settlements Net Purchases/ Issuances/ Sales/ Settlements Assets Asset Management and Strategic Holdings Private Equity $ 4,909,109 $ — $ (1,215,383) $ — $ 3,693,726 Credit 1,598,277 — (1,945,798) (122,610) (470,131) Real Assets 5,052,128 — (1,408,018) (1,039) 3,643,071 Equity Method - Other 10,130 — (353,727) — (343,597) Other Investments 1,545,695 — (356,694) (163,147) 1,025,854 Other Derivatives 2,153 — — — 2,153 Total Assets - Asset Management and Strategic Holdings $ 13,117,492 $ — $ (5,279,620) $ (286,796) $ 7,551,076 Insurance AFS Fixed Maturity Securities: Corporate Fixed Maturity Securities $ 1,332,909 $ — $ (157,859) $ (1,117,570) $ 57,480 Structured Securities 366,410 — (1,020) (301,772) 63,618 Total AFS Fixed Maturity Securities $ 1,699,319 $ — $ (158,879) $ (1,419,342) $ 121,098 Trading Fixed Maturity Securities: Corporate Fixed Maturity Securities 74,783 — (8,014) (67,277) (508) Structured Securities 55,633 — (51,193) (50,968) (46,528) Total Trading Fixed Maturity Securities $ 130,416 $ — $ (59,207) $ (118,245) $ (47,036) Mortgage and Other Loan Receivables 1,796 — (3,078) (88,266) (89,548) Real Assets 293,571 — (26,243) — 267,328 Other Investments 7,537 — (218) — 7,319 Reinsurance Recoverable — — — (7,200) (7,200) Total Assets - Insurance $ 2,132,639 $ — $ (247,625) $ (1,633,053) $ 251,961 Total $ 15,250,131 $ — $ (5,527,245) $ (1,919,849) $ 7,803,037 For the Year Ended December 31, 2024 Balance, Beg. of Period Transfers In / (Out) - Changes in Consolidation Transfers In Transfers Out Net Purchases/Sales/Settlements/Issuances Net Unrealized and Realized Gains (Losses) Change in OCI Balance, End of Period Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date Liabilities Asset Management and Strategic Holdings Unfunded Revolver Commitments $ 94,683 $ — $ — $ — $ — $ 2,165 $ — $ 96,848 $ 2,165 Total Liabilities - Asset Management and Strategic Holdings $ 94,683 $ — $ — $ — $ — $ 2,165 $ — $ 96,848 $ 2,165 Insurance Policy Liabilities $ 1,474,970 $ — $ — $ — $ 44,891 $ (268,545) $ 28,478 $ 1,279,794 $ — Closed Block Policy Liabilities 968,554 — — — 5,652 16,870 (2,756) 988,320 — Funds Withheld Payable at Interest (2,447,303) — — — — (350,241) — (2,797,544) — Embedded Derivative – Interest-sensitive 458,302 — — — (100,797) 134,313 — 491,818 — Embedded Derivative – Annuity Products 3,587,371 — — — 1,109,304 784,388 — 5,481,063 — Total Liabilities - Insurance $ 4,041,894 $ — $ — $ — $ 1,059,050 $ 316,785 $ 25,722 $ 5,443,451 $ — Total $ 4,136,577 $ — $ — $ — $ 1,059,050 $ 318,950 $ 25,722 $ 5,540,299 $ 2,165 For the Year Ended December 31, 2023 Balance, Beg. of Period Transfers In / (Out) - Changes in Consolidation Transfers In Transfers Out Net Purchases/Sales/Settlements/Issuances Net Unrealized and Realized Gains (Losses) Change in OCI Balance, End of Period Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date Liabilities Asset Management and Strategic Holdings Unfunded Revolver Commitments $ 137,315 $ — $ — $ — $ — $ (42,632) $ — $ 94,683 $ (42,632) Total Liabilities - Asset Management and Strategic Holdings $ 137,315 $ — $ — $ — $ — $ (42,632) $ — $ 94,683 $ (42,632) Insurance Policy Liabilities $ 1,063,496 $ — $ — $ — $ (4,292) $ 177,932 $ 237,834 $ 1,474,970 $ — Closed Block Policy Liabilities 1,016,313 — — — (11,951) (42,705) 6,897 968,554 — Funds Withheld Payable at Interest (3,487,766) — — — — 1,040,463 — (2,447,303) — Embedded Derivative – Interest-sensitive 337,860 — — — (43,820) 164,262 — 458,302 — Embedded Derivative – Annuity Products 1,851,381 — — — 955,812 780,178 — 3,587,371 — Total Liabilities - Insurance $ 781,284 $ — $ — $ — $ 895,749 $ 2,120,130 $ 244,731 $ 4,041,894 $ — Total $ 918,599 $ — $ — $ — $ 895,749 $ 2,077,498 $ 244,731 $ 4,136,577 $ (42,632) Year Ended December 31, 2024 Issuances Settlements Net Issuances/Settlements Liabilities Asset Management and Strategic Holdings Unfunded Revolver Commitments $ — $ — $ — Total Liabilities - Asset Management and Strategic Holdings $ — $ — $ — Insurance Policy Liabilities $ 59,211 $ (14,320) $ 44,891 Closed Block Policy Liabilities 5,652 — 5,652 Embedded Derivative – Interest-sensitive Life Products — (100,797) (100,797) Embedded Derivative – Annuity Products 1,375,081 (265,777) 1,109,304 Total Liabilities - Insurance $ 1,439,944 $ (380,894) $ 1,059,050 Total $ 1,439,944 $ (380,894) $ 1,059,050 Year Ended December 31, 2023 Issuances Settlements Net Issuances/Settlements Liabilities Asset Management and Strategic Holdings Unfunded Revolver Commitments $ — $ — $ — Total Liabilities - Asset Management and Strategic Holdings $ — $ — $ — Insurance Policy Liabilities $ 1,803 $ (6,095) $ (4,292) Closed Block Policy Liabilities — (11,951) (11,951) Embedded Derivative – Interest-sensitive Life Products — (43,820) (43,820) Embedded Derivative – Annuity Products 1,081,979 (126,167) 955,812 Total Liabilities - Insurance $ 1,083,782 $ (188,033) $ 895,749 Total $ 1,083,782 $ (188,033) $ 895,749
Schedule of Valuation Methodologies used for Assets, Measured at Fair Value and Categorized within Level III	The following table presents additional information about valuation methodologies and significant unobservable inputs used for financial assets and liabilities that are measured and reported at fair value and categorized within Level III as of December 31, 2024. Because input information includes only those items for which information is reasonably available, balances shown below may not equal total amounts reported for such Level III assets and liabilities: Level III Assets Fair Value December 31, 2024 Valuation Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) ASSET MANAGEMENT AND STRATEGIC HOLDINGS Private Equity $ 33,123,449 Private Equity $ 30,498,966 Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 6.0% 5.0% - 20.0% Decrease Weight Ascribed to Market Comparables 28.5% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 69.3% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price 2.2% 0.0% - 100.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 18.9x 5.0x - 29.1x Increase Enterprise Value/Forward EBITDA Multiple 17.1x 4.7x - 32.1x Increase Discounted cash flow Weighted Average Cost of Capital 9.3% 5.6% - 14.4% Decrease Enterprise Value/EBITDA Exit Multiple 14.8x 6.0x - 27.6x Increase Level III Assets Fair Value December 31, 2024 Valuation Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Growth Equity $ 2,624,483 Inputs to market comparables, discounted cash flow and milestones Illiquidity Discount 10.1% 10.0% - 15.0% Decrease Weight Ascribed to Market Comparables 35.2% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 3.4% 0.0% - 50.0% (5) Weight Ascribed to Transaction Price 11.6% 0.0% - 100.0% (6) Weight Ascribed to Milestones 49.8% 0.0% - 100.0% (6) Scenario Weighting Base 75.0% 50.0% - 85.0% Increase Downside 11.8% 5.0% - 25.0% Decrease Upside 13.2% 10.0% - 25.0% Increase Market Comparables Enterprise Value/Revenues Multiple 7.0x 2.3x - 12.0x Increase Credit $ 4,805,408 Yield Analysis Yield 10.7% 0.0% - 23.8% Decrease Net Leverage 5.9x 1.6x -10.5x Decrease EBITDA Multiple 12.1x 1.4x - 30.0x Increase Real Assets $ 12,524,290 Energy $ 1,466,523 Inputs to market comparables, discounted cash flow and transaction price Weight Ascribed to Market Comparables 44.7% 0.0% - 50.0% (4) Weight Ascribed to Discounted Cash Flow 55.3% 50.0% - 100.0% (5) Market comparables Enterprise Value/LTM EBITDA Multiple 5.2x 5.2x - 5.2x Increase Enterprise Value/Forward EBITDA Multiple 8.6x 5.3x- 9.6x Increase Discounted cash flow Weighted Average Cost of Capital 13.0% 10.2% - 14.2% Decrease Average Price Per BOE (8) $42.44 $39.14 - $47.69 Increase Infrastructure $ 997,361 Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 6.7% 5.0% - 10.0% Decrease Weight Ascribed to Market Comparables 11.2% 0.0% - 25.0% (4) Weight Ascribed to Discounted Cash Flow 88.8% 75.0% - 100.0% (5) Weight Ascribed to Transaction Price 0.0% 0.0% - 0.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 11.8x 11.8x - 11.8x Increase Enterprise Value/Forward EBITDA Multiple 22.2x 11.6x - 25.6x Increase Discounted cash flow Weighted Average Cost of Capital 7.0% 5.8% - 8.7% Decrease Enterprise Value/EBITDA Exit Multiple 16.1x 10.0x - 22.0x Increase Real Estate $ 10,060,406 Inputs to direct income capitalization, discounted cash flow and transaction price Weight Ascribed to Direct Income Capitalization 8.6% 0.0% - 100.0% (7) Weight Ascribed to Discounted Cash Flow 87.4% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price 4.0% 0.0% - 100.0% (6) Direct income capitalization Current Capitalization Rate 5.4% 1.8% - 7.5% Decrease Discounted cash flow Exit Capitalization Rate 5.6% 3.1% - 9.0% Decrease Unlevered Discount Rate 7.3% 2.8% - 11.0% Decrease Equity Method - Other $ 1,405,300 Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 7.1% 5.0% - 10.0% Decrease Weight Ascribed to Market Comparables 52.8% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 46.5% 0.0% - 50.0% (5) Weight Ascribed to Transaction Price 0.7% 0.0% - 100.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 12.4x 5.2x - 22.4x Increase Enterprise Value/Forward EBITDA Multiple 11.7x 5.3x - 19.4x Increase Discounted cash flow Weighted Average Cost of Capital 10.8% 6.5% - 15.8% Decrease Enterprise Value/EBITDA Exit Multiple 11.0x 9.5x - 15.0x Increase Other Investments $ 4,848,851 (9) Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 8.5% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 23.3% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 38.9% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price 37.8% 0.0% - 100.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 12.0x 7.8x - 15.3x Increase Enterprise Value/Forward EBITDA Multiple 15.3x 7.3x - 19.1x Increase Discounted cash flow Weighted Average Cost of Capital 12.8% 7.3% - 19.5% Decrease Enterprise Value/EBITDA Exit Multiple 13.3x 8.5x - 15.0x Increase Level III Assets Fair Value December 31, 2024 Valuation Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) INSURANCE (10) Corporate Fixed Maturity Securities $ 10,676,454 Discounted cash flow Discount Spread 2.2% 0.2% - 5.0% Decrease Structured Securities $ 3,067,847 Discounted cash flow Discount Spread 2.3% 1.3% - 4.4% Decrease Constant Prepayment Rate 13.6% 10.0% - 15.0% Increase/Decrease Constant Default Rate 0.3% 0.0% - 3.0% Decrease Loss Severity 9.4% 0.0% - 95.0% Decrease Mortgage and Other Loan Receivables $ 1,611,109 Discounted cash flow Discount Spread 2.6% 0.7% - 4.7% Decrease Real Assets $ 8,121,139 Discounted cash flow Discount Rate 7.4% 6.5% - 8.3% Decrease Terminal Capitalization Rate 5.8% 5.0% - 7.3% Decrease Reinsurance Recoverable $ 940,731 Present value of expenses paid from the open block plus the cost of capital held in support of the liabilities. Expense Assumption $17.3 The average expense assumption is between $8.2 and $78.0 per policy, increased by inflation. The annual inflation rate was increased by 2.5%. Increase Unobservable inputs are a market participant’s view of the expenses, a risk margin on the uncertainty of the level of expenses and a cost of capital on the capital held in support of the liabilities. Expense Risk Margin 9.4% Decrease Cost of Capital 9.7% 3.7% - 13.9% Increase Discounted cash flow Mortality Rate 5.7% Increase Surrender Rate 2.0% Increase (1) In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies and company specific developments including exit strategies and realization opportunities. KKR has determined that market participants would take these inputs into account when valuing the investments and debt obligations. "LTM" means last twelve months, and "EBITDA" means earnings before interest, taxes, depreciation, and amortization. (2) Inputs were weighted based on the fair value of the investments included in the range. (3) Unless otherwise noted, this column represents the directional change in the fair value of the Level III investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. (4) The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level III investments if the market comparables approach results in a higher valuation than the discounted cash flow approach and transaction price. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach and transaction price. (5) The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level III investments if the discounted cash flow approach results in a higher valuation than the market comparables approach, transaction price and direct income capitalization approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach, transaction price and direct income capitalization approach. (6) The directional change from an increase in the weight ascribed to the transaction price or milestones would increase the fair value of the Level III investments if the transaction price or milestones results in a higher valuation than the market comparables and discounted cash flow approach. The opposite would be true if the transaction price or milestones results in a lower valuation than the market comparables approach and discounted cash flow approach. (7) The directional change from an increase in the weight ascribed to the direct income capitalization approach would increase the fair value of the Level III investments if the direct income capitalization approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the direct income capitalization approach results in a lower valuation than the discounted cash flow approach. (8) The total energy fair value amount includes multiple investments (in multiple locations throughout North America) that are held in different investment funds and produce varying quantities of oil, condensate, natural gas liquids, and natural gas. Commodity price may be measured using a common volumetric equivalent where one barrel of oil equivalent ("BOE") is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for the various investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 87% liquids and 13% natural gas. (9) Consists primarily of investments in common stock, preferred stock, warrants and options of companies that are not private equity, real assets, credit, equity method - other, or investments of consolidated CFEs. (10) The funds withheld receivable at interest has been excluded from the above table. As discussed in Note 12 – Reinsurance, the funds withheld receivable at interest is created through funds withheld contracts. The assets supporting these receivables were held in trusts for the benefit of Global Atlantic. Accordingly, the unobservable inputs utilized in the valuation of the embedded derivative are a component of the invested assets supporting the funds withheld reinsurance agreements. Level III Liabilities Fair Value December 31, 2024 Valuation Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) ASSET MANAGEMENT AND STRATEGIC HOLDINGS Unfunded Revolver Commitments $ 96,848 Yield Analysis Yield 9.7% 6.6% - 14.8% Decrease INSURANCE (4) Policy Liabilities $ 1,279,794 Policy liabilities under fair value option: Present value of best estimate liability cash flows. Unobservable inputs include a market participant view of the risk margin included in the discount rate which reflects the variability of the cash flows. Risk Margin Rate 0.6% 0.4% - 0.8% Decrease Policyholder behavior is also a significant unobservable input, including lapse, surrender and mortality. Surrender Rate 6.4% 3.7% - 7.6% Decrease Mortality Rate 4.8% 3.5% - 9.1% Increase Market risk benefit: Fair value using a non-option and option valuation approach Instrument-specific Credit Risk (10 and 30 Year) 0.6% / 0.7% Decrease Policyholder behavior is also a significant unobservable input, including lapse, surrender, and mortality. Mortality Rate 2.6% 0.6% - 28.0% Decrease Surrender Rate 4.1% 0.1% - 39.5% Decrease Level III Liabilities Fair Value December 31, 2024 Valuation Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Closed Block Policy Liabilities $ 988,320 Present value of expenses paid from the open block plus the cost of capital held in support of the liabilities. Expense Assumption $17.3 The average expense assumption is between $8.2 and $78.0 per policy, increased by inflation. The annual inflation rate was increased by 2.5%. Increase Instrument-Specific Credit Risk 0.6% 0.4% - 0.7% Decrease Unobservable inputs are a market participant’s view of the expenses, a risk margin on the uncertainty of the level of expenses and a cost of capital on the capital held in support of the liabilities. Expense Risk Margin 9.4% Decrease Cost of Capital 9.7% 3.7% - 13.9% Increase Discounted cash flow Mortality Rate 5.7% Increase Surrender Rate 2.0% Increase Embedded Derivative – Interest-Sensitive Life Products $ 491,818 Policy persistency is a significant unobservable input. Lapse Rate 3.2% Decrease Mortality Rate 0.8% Decrease Future costs for options used to hedge the contract obligations Option Budget Assumption 3.6% Increase Instrument-Specific Credit Risk 0.6% 0.4% - 0.7% Decrease Embedded Derivative – Annuity Products $ 5,481,063 Policyholder behavior is a significant unobservable input, including utilization and lapse. Utilization: Fixed-Indexed Annuity 96.5% Increase Surrender Rate: Retail FIA 13.9% Increase Institutional FIA 18.6% Decrease Mortality Rate: Retail FIA 2.7% Decrease Institutional FIA 1.9% Decrease Future costs for options used to hedge the contract obligations Option Budget Assumption: Retail FIA 3.1% Increase Institutional FIA 3.7% Increase Instrument-Specific Credit Risk 0.6% 0.4% - 0.7% Decrease (1) In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies and company specific developments including exit strategies and realization opportunities. KKR has determined that market participants would likely take these inputs into account when valuing the investments and debt obligations. "LTM" means last twelve months, and "EBITDA" means earnings before interest, taxes, depreciation and amortization. (2) Inputs were weighted based on the fair value of the investments included in the range. (3) Unless otherwise noted, this column represents the directional change in the fair value of the Level III investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. (4) The fair value of the embedded derivative component of the funds withheld payable at interest has been excluded from the above table. The investments supporting the funds withheld payable at interest balance are held in a trust by Global Atlantic. Accordingly, the unobservable inputs utilized in the valuation of the embedded derivative are a component of the investments supporting the reinsurance cession agreements.
Schedule of Financial Instruments not Carried at Fair Value	The following tables present carrying amounts and fair values of Global Atlantic’s financial instruments which are not carried at fair value as of December 31, 2024 and 2023: Fair Value Hierarchy As of December 31, 2024 Carrying Value Level I Level II Level III Fair Value ($ in thousands) Financial Assets: Insurance Mortgage and Other Loan Receivables $ 51,139,968 $ — $ — $ 49,542,913 $ 49,542,913 Policy Loans 1,622,958 — — 1,557,776 1,557,776 FHLB Common Stock and Other Investments 166,919 — — 166,919 166,919 Funds Withheld Receivables at Interest 2,411,971 — 2,411,971 — 2,411,971 Cash and Cash Equivalents 6,343,445 6,343,445 — — 6,343,445 Restricted Cash and Cash Equivalents 350,512 350,512 — — 350,512 Total Financial Assets $ 62,035,773 $ 6,693,957 $ 2,411,971 $ 51,267,608 $ 60,373,536 Financial Liabilities: Insurance Policy Liabilities – Policyholder Account Balances $ 59,880,083 $ — $ 51,914,709 $ 7,088,877 $ 59,003,586 Funds Withheld Payables at Interest 46,759,454 — 46,759,454 — 46,759,454 Debt Obligations 3,713,336 — — 3,682,060 3,682,060 Securities Sold Under Agreements to Repurchase 261,396 — 261,396 — 261,396 Total Financial Liabilities $ 110,614,269 $ — $ 98,935,559 $ 10,770,937 $ 109,706,496 Fair Value Hierarchy As of December 31, 2023 Carrying Value Level I Level II Level III Fair Value ($ in thousands) Financial Assets: Insurance Mortgage and Other Loan Receivables $ 38,480,525 $ — $ — $ 35,539,059 $ 35,539,059 Policy Loans 1,556,030 — — 1,341,005 1,341,005 FHLB Common Stock and Other Investments 173,148 — — 173,148 173,148 Funds Withheld Receivables at Interest 2,624,984 — 2,624,984 — 2,624,984 Cash and Cash Equivalents 11,954,675 11,954,675 — — 11,954,675 Restricted Cash and Cash Equivalents 342,954 342,954 — — 342,954 Total Financial Assets $ 55,132,316 $ 12,297,629 $ 2,624,984 $ 37,053,212 $ 51,975,825 Financial Liabilities: Insurance Policy Liabilities – Policyholder Account Balances $ 53,821,432 $ — $ 45,395,423 $ 6,966,991 $ 52,362,414 Funds Withheld Payables at Interest 36,786,825 — 36,786,825 — 36,786,825 Debt Obligations 2,587,857 — — 2,396,587 2,396,587 Securities Sold Under Agreements to Repurchase 1,358,434 — 1,358,434 — 1,358,434 Total Financial Liabilities $ 94,554,548 $ — $ 83,540,682 $ 9,363,578 $ 92,904,260

FAIR VALUE OPTION (Tables)

FAIR VALUE OPTION (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Disclosures of Financial Instruments for which the Fair Value Option was Elected	The following table summarizes the financial instruments for which the fair value option has been elected: December 31, 2024 December 31, 2023 Assets Asset Management and Strategic Holdings Credit $ 1,310,984 $ 976,978 Investments of Consolidated CFEs 27,488,538 24,996,298 Real Assets 55,087 59,721 Equity Method - Other 1,832,534 2,283,588 Other Investments 110,979 153,597 Total Asset Management and Strategic Holdings $ 30,798,122 $ 28,470,182 Insurance Fixed Maturity Securities $ 100,162 $ — Mortgage and Other Loan Receivables 1,611,109 697,402 Real Assets 471,498 169,407 Other Investments 47,944 63,470 Reinsurance Recoverable 940,731 926,035 Total Insurance $ 3,171,444 $ 1,856,314 Total Assets $ 33,969,566 $ 30,326,496 Liabilities Asset Management and Strategic Holdings Debt Obligations of Consolidated CFEs $ 27,150,809 $ 25,276,404 Total Asset Management and Strategic Holdings $ 27,150,809 $ 25,276,404 Insurance Policy Liabilities $ 1,265,878 $ 1,322,555 Total Insurance $ 1,265,878 $ 1,322,555 Total Liabilities $ 28,416,687 $ 26,598,959 The following table presents the net realized and unrealized gains (losses) on financial instruments for which the fair value option was elected: For the Year Ended December 31, 2024 Net Realized Net Unrealized Total Assets Asset Management and Strategic Holdings Credit $ (30,456) $ 5,968 $ (24,488) Investments of Consolidated CFEs (61,580) 84,799 23,219 Real Assets — (4,634) (4,634) Equity Method - Other 52,204 (176,599) (124,395) Other Investments 932 279 1,211 Total Asset Management and Strategic Holdings $ (38,900) $ (90,187) $ (129,087) Insurance Mortgage and Other Loan Receivables $ — $ 42,778 $ 42,778 Real Assets — (13,543) (13,543) Other Investments — (15,119) (15,119) Total Insurance $ — $ 14,116 $ 14,116 Total Assets $ (38,900) $ (76,071) $ (114,971) Liabilities Asset Management and Strategic Holdings Debt Obligations of Consolidated CFEs $ (10,387) $ (58,952) $ (69,339) Total Asset Management and Strategic Holdings $ (10,387) $ (58,952) $ (69,339) Insurance Policy Liabilities $ — $ 84,672 $ 84,672 Total Insurance $ — $ 84,672 $ 84,672 Total Liabilities $ (10,387) $ 25,720 $ 15,333 For the Year Ended December 31, 2023 Net Realized Net Unrealized Total Assets Asset Management and Strategic Holdings Credit $ (85,682) $ 66,109 $ (19,573) Investments of Consolidated CFEs (104,196) 1,019,063 914,867 Real Assets 51,637 (54,697) (3,060) Equity Method - Other 170,909 61,205 232,114 Other Investments 1,455 (813) 642 Total Asset Management and Strategic Holdings $ 34,123 $ 1,090,867 $ 1,124,990 Insurance Mortgage and Other Loan Receivables $ — $ (1,342) $ (1,342) Real Assets — (52,291) (52,291) Other Investments — (13,123) (13,123) Total Insurance $ — $ (66,756) $ (66,756) Total Assets $ 34,123 $ 1,024,111 $ 1,058,234 Liabilities Asset Management and Strategic Holdings Debt Obligations of Consolidated CFEs $ (1,212) $ (1,015,491) $ (1,016,703) Total Asset Management and Strategic Holdings $ (1,212) $ (1,015,491) $ (1,016,703) Insurance Policy Liabilities $ — $ 62,621 $ 62,621 Total Insurance $ — $ 62,621 $ 62,621 Total Liabilities $ (1,212) $ (952,870) $ (954,082) For the Year Ended December 31, 2022 Net Realized Net Unrealized Total Assets Asset Management and Strategic Holdings Credit $ (103,860) $ (9,326) $ (113,186) Investments of Consolidated CFEs (69,234) (1,437,482) (1,506,716) Real Assets 85 19,295 19,380 Equity Method - Other (14,891) (201,935) (216,826) Other Investments 6,657 (9,927) (3,270) Total Asset Management and Strategic Holdings $ (181,243) $ (1,639,375) $ (1,820,618) Insurance Mortgage and other loan receivables $ — $ (96,569) $ (96,569) Real assets — 122,082 122,082 Other Investments — 31,027 31,027 Total Insurance $ — $ 56,540 $ 56,540 Total Assets $ (181,243) $ (1,582,835) $ (1,764,078) Liabilities Asset Management and Strategic Holdings Debt Obligations of Consolidated CFEs $ (785) $ 1,175,161 $ 1,174,376 Total Asset Management and Strategic Holdings $ (785) $ 1,175,161 $ 1,174,376 Insurance Policy liabilities $ — $ 138,039 $ 138,039 Total Insurance $ — $ 138,039 $ 138,039 Total Liabilities $ (785) $ 1,313,200 $ 1,312,415

INSURANCE INTANGIBLES, UNEARN_2

INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Schedule of Intangible Assets, Net	The following reflects the reconciliation of the components of insurance intangibles to the total balance reported in the consolidated statements of financial condition as of December 31, 2024 and 2023: December 31, December 31, 2024 2023 Deferred Acquisition Costs, or "DAC" $ 1,731,076 $ 1,154,697 Value of Business Acquired 1,165,193 1,252,984 Cost-of-Reinsurance Intangibles 2,302,674 2,043,143 Total Insurance Intangibles $ 5,198,943 $ 4,450,824
Schedule of Changes to Deferred Policy Acquisition Costs	The following tables reflect the deferred acquisition costs roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 373,863 $ 481,970 $ 132,079 $ 166,785 $ 1,154,697 Capitalizations 197,662 404,165 7,640 202,251 811,718 Amortization Expense (108,132) (98,550) (8,576) (20,081) (235,339) Balance, as of the End of the Period $ 463,393 $ 787,585 $ 131,143 $ 348,955 $ 1,731,076 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 221,679 $ 367,813 $ 116,021 $ 115,457 $ 820,970 Capitalizations 218,243 175,869 23,592 66,458 484,162 Amortization Expense (66,059) (61,712) (7,534) (15,130) (150,435) Balance, as of the End of the Period $ 373,863 $ 481,970 $ 132,079 $ 166,785 $ 1,154,697 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Other Total Balance, as of the Beginning of the Period $ 107,104 $ 179,449 $ 54,298 $ 56,730 $ 397,581 Capitalizations 144,635 220,866 67,892 69,515 502,908 Amortization Expense (30,060) (32,502) (6,169) (10,788) (79,519) Balance, as of the End of the Period $ 221,679 $ 367,813 $ 116,021 $ 115,457 $ 820,970
Schedule of Changes to Value of Business Acquired Asset	The following tables reflect the value of business acquired, or “VOBA” asset roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 44,922 $ 621,372 $ 262,942 $ 245,042 $ 78,706 $ 1,252,984 Amortization Expense (3,687) (43,210) (13,530) (20,695) (6,669) (87,791) Balance, as of the End of the Period $ 41,235 $ 578,162 $ 249,412 $ 224,347 $ 72,037 $ 1,165,193 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 48,762 $ 663,296 $ 276,795 $ 241,778 $ 85,898 $ 1,316,529 Amortization Expense (3,840) (41,924) (13,853) 3,264 (7,192) (63,545) Balance, as of the End of the Period $ 44,922 $ 621,372 $ 262,942 $ 245,042 $ 78,706 $ 1,252,984 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 52,723 $ 709,271 $ 292,323 $ 269,172 $ 94,479 $ 1,417,968 Amortization Expense (3,961) (45,975) (15,528) (27,394) (8,581) (101,439) Balance, as of the End of the Period $ 48,762 $ 663,296 $ 276,795 $ 241,778 $ 85,898 $ 1,316,529 The following tables reflect the negative value of business acquired, or “negative VOBA” liability roll-forward by product category for the years ended December 31, 2024, 2023, and 2022: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 65,966 $ 106,538 $ 421,213 $ 91,295 $ 182,920 $ 867,932 Amortization Expense (21,534) (31,283) (29,397) (6,113) (13,297) (101,624) Balance, as of the End of the Period $ 44,432 $ 75,255 $ 391,816 $ 85,182 $ 169,623 $ 766,308 Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 98,342 $ 145,610 $ 461,592 $ 99,776 $ 198,804 $ 1,004,124 Amortization Expense (32,376) (39,072) (40,379) (8,481) (15,884) (136,192) Balance, as of the End of the Period $ 65,966 $ 106,538 $ 421,213 $ 91,295 $ 182,920 $ 867,932 Year ended December 31, 2022 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Variable Annuities Other Total Balance, as of the Beginning of the Period $ 136,227 $ 184,664 $ 500,264 $ 109,826 $ 211,296 $ 1,142,277 Amortization Expense (37,885) (39,054) (38,672) (10,050) (12,492) (138,153) Balance, as of the End of the Period $ 98,342 $ 145,610 $ 461,592 $ 99,776 $ 198,804 $ 1,004,124
Schedule of Present Value of Future Insurance Profits, Expected Amortization	Estimated future amortization of VOBA and Negative VOBA as of December 31, 2024, is as follows: Years VOBA Negative VOBA Total, net 2025 $ 84,071 $ (86,456) $ (2,385) 2026 78,852 (70,146) 8,706 2027 73,940 (59,329) 14,611 2028 69,456 (51,274) 18,182 2029 65,376 (45,433) 19,943 Thereafter 793,498 (453,670) 339,828 Total $ 1,165,193 $ (766,308) $ 398,885
Schedule of Changes to Unearned Revenue Reserve	Unearned Revenue Reserves and Unearned Front-end Loads Years Ended December 31, 2024 2023 2022 Preneed Balance, as of the Beginning of the Period $ 178,053 $ 118,186 $ 55,510 Deferral 69,303 71,798 69,548 Amortized to Income during the Period (16,566) (11,931) (6,872) Balance, as of the End of the Period $ 230,790 $ 178,053 $ 118,186

REINSURANCE (Tables)

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Schedule of Effects of Reinsurance Agreements	The effects of all reinsurance agreements on the consolidated statements of financial condition were as follows: December 31, 2024 December 31, 2023 Policy Liabilities: Direct $ 84,062,566 $ 75,715,857 Assumed 101,142,800 84,342,414 Total Policy Liabilities 185,205,366 160,058,271 Ceded (1) (45,006,124) (35,773,958) Net Policy Liabilities $ 140,199,242 $ 124,284,313 (1) Reported within reinsurance recoverable within the consolidated statements of financial condition. The effects of reinsurance on the consolidated statements of operations were as follows: Years Ended December 31, 2024 2023 2022 Net Premiums: Direct $ 642,803 $ 118,535 $ 111,602 Assumed 11,915,597 4,138,758 2,413,234 Ceded (4,659,566) (2,281,618) (1,342,375) Net Premiums $ 7,898,834 $ 1,975,675 $ 1,182,461 Years Ended December 31, 2024 2023 2022 Policy Fees: Direct $ 917,684 $ 912,931 $ 950,702 Assumed 1,111,998 442,085 328,528 Ceded (651,996) (94,767) (17,509) Net Policy Fees $ 1,377,686 $ 1,260,249 $ 1,261,721 Years Ended December 31, 2024 2023 2022 Net Policy Benefits and Claims: Direct $ 4,047,792 $ 3,406,055 $ 812,961 Assumed 15,949,420 5,922,927 3,255,354 Ceded (6,703,930) (2,966,725) (1,710,077) Net Policy Benefits and Claims $ 13,293,282 $ 6,362,257 $ 2,358,238
Schedule of Reinsurance Recoverable and Funds Withheld Receivable at Interest by Credit Quality Indicator	The following shows the amortized cost basis of Global Atlantic’s reinsurance recoverable and funds withheld receivable at interest by credit quality indicator and any associated credit enhancements Global Atlantic has obtained to mitigate counterparty credit risk: As of December 31, 2024 As of December 31, 2023 A.M. Best Rating (1) Reinsurance Recoverable and Funds Withheld Receivable at Interest Credit Enhancements (2) Net Reinsurance Credit Exposure (3) Reinsurance Recoverable and Funds Withheld Receivable at Interest Credit Enhancements (2) Net Reinsurance Credit Exposure (3) A++ $ 26,854 $ — $ 26,854 $ 38,857 $ — $ 38,857 A+ 1,731,697 — 1,731,697 1,801,954 — 1,801,954 A 2,143,893 — 2,143,893 2,212,800 — 2,212,800 A- 3,926,161 3,477,840 448,321 4,430,484 3,814,976 615,508 B++ 600 — 600 589 — 589 B+ — — — — — — B — — — — — — B- — — — — — — C++/C+ (231) — — (228) — — Not Rated or Private Rating (4) 39,979,509 40,484,070 — 30,859,068 30,210,350 648,718 Total $ 47,808,483 $ 43,961,910 $ 4,351,365 $ 39,343,524 $ 34,025,326 $ 5,318,426 (1) Ratings are periodically updated (at least annually) as A.M. Best issues new ratings. (2) Credit enhancements primarily include funds withheld payable at interest. (3) Includes credit loss allowance of $16.4 million and $21.0 million as of December 31, 2024 and 2023, respectively, held against reinsurance recoverable and funds withheld receivable at interest. (4) Includes $40.0 billion and $30.8 billion as of December 31, 2024 and 2023, respectively, associated with cessions to co-investment vehicles (the "Ivy and other co-investment vehicles") that participate in qualifying reinsurance transactions sourced by Global Atlantic.

NET INCOME (LOSS) ATTRIBUTABL_2

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. INC. PER SHARE OF COMMON STOCK (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income (Loss) Attributable to KKR & Co. per Share of Common Stock	For the years ended December 31, 2024, 2023, and 2022, basic and diluted Net Income (Loss) attributable to KKR & Co. Inc. per share of common stock were calculated as follows: Years Ended December 31, 2024 2023 2022 Net Income (Loss) Available to KKR & Co. Inc. $ 3,076,245 $ 3,680,514 $ (590,664) (+) Series C Mandatory Convertible Preferred Dividend (if dilutive) (1) — 51,747 — Net Income (Loss) Available to KKR & Co. Inc. $ 3,076,245 $ 3,732,261 $ (590,664) Basic Net Income (Loss) Per Share of Common Stock Weighted Average Shares of Common Stock Outstanding - Basic 887,021,433 867,496,813 749,504,970 Net Income (Loss) Attributable to KKR & Co. Inc. $ 3.47 $ 4.24 $ (0.79) Diluted Net Income (Loss) Per Share of Common Stock Weighted Average Shares of Common Stock Outstanding - Basic 887,021,433 867,496,813 749,504,970 Incremental Common Shares: Assumed vesting of dilutive equity awards (2) 51,883,167 25,294,958 — Assumed conversion of Series C Mandatory Convertible Preferred Stock (1) — 18,995,662 — Weighted Average Shares of Common Stock Outstanding - Diluted 938,904,600 911,787,433 749,504,970 Net Income (Loss) Attributable to KKR & Co. Inc. $ 3.28 $ 4.09 $ (0.79) (1) For the year ended December 31, 2023, the impact of Series C Mandatory Convertible Preferred Stock calculated under the if-converted method was dilutive, and as such (i) shares of common stock (assuming a conversion ratio based on the average volume weighted average price per share of common stock over each reporting period) were included in the Weighted Average Shares of Common Stock Outstanding - Diluted and (ii) Series C Mandatory Convertible Preferred dividends were added back to Net Income (Loss) Available to KKR & Co. Inc. Common Stockholders - Diluted. (2) For the years ended December 31, 2024 and 2023 Weighted Average Shares of Common Stock Outstanding – Diluted includes unvested equity awards, including certain equity awards that have met their market price-based vesting condition but have not satisfied their service-based vesting condition. Vesting of these equity awards dilute equity holders of KKR Group Partnership, including KKR & Co. Inc. and holders of exchangeable securities pro rata in accordance with their respective ownership interests in KKR Group Partnership. For the year ended December 31, 2022, all unvested equity awards are excluded from the calculation of Diluted Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock because inclusion of such unvested equity awards would be anti-dilutive having the effect of decreasing the loss per share of common stock.
Schedule of KKR Holdings Shares Excluded from the Calculation of Diluted Net Income (Loss) Attributable to KKR & Co. L.P. per Share of Common Stock - Diluted	Years Ended December 31, 2024 2023 2022 Weighted Average KKR Holdings Units — — 107,018,025 Weighted Average Vested Restricted Holdings Units 6,828,095 3,675,345 2,250,186 Total 6,828,095 3,675,345 109,268,211

OTHER ASSETS AND ACCRUED EXPE_2

OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
Schedule of Other Assets	Other Assets consist of the following: December 31, 2024 December 31, 2023 Asset Management and Strategic Holdings Unsettled Investment Sales (1) $ 293,379 $ 271,544 Receivables 259,644 55,602 Due from Broker (2) 97,524 76,075 Deferred Tax Assets, net 50,627 48,580 Interest Receivable 264,680 351,999 Fixed Assets, net (3) 902,896 863,096 Foreign Exchange Contracts and Options (4) 511,513 264,621 Goodwill (5) 509,561 558,279 Intangible Assets (6) 1,457,871 1,624,648 Derivative Assets 8,444 4,792 Prepaid Taxes 167,751 211,966 Prepaid Expenses 57,629 56,828 Operating Lease Right of Use Assets (7) 701,274 358,684 Deferred Financing Costs 19,594 19,213 Other 231,899 209,296 Total Asset Management and Strategic Holdings $ 5,534,286 $ 4,975,223 Insurance Deferred Tax Assets, net $ 2,788,672 $ 2,273,757 Accrued Investment Income 1,475,704 1,220,781 Goodwill 509,972 501,496 Intangible Assets and Deferred Sales Inducements (8) 343,657 258,529 Premiums and Other Account Receivables 254,992 188,136 Other 276,104 152,486 Operating Lease Right of Use Assets (7) 165,204 172,955 Unsettled Investment Sales (1) and Derivative Collateral Receivables 141,532 27,562 Derivative Assets 61,351 45,694 Prepaid Taxes 273,197 42,294 Market Risk Benefit Asset 2,319 17 Total Insurance $ 6,292,704 $ 4,883,707 Total Other Assets $ 11,826,990 $ 9,858,930 (1) Primarily includes amounts due from third parties for investments sold for which cash settlement has not occurred. (2) Represents amounts held at clearing brokers resulting from securities transactions. (3) Net of accumulated depreciation and amortization of $326.0 million and $257.4 million as of December 31, 2024 and December 31, 2023, respectively. Depreciation and amortization expense of $71.6 million, $68.4 million, and $54.6 million for the years ended December 31, 2024, 2023, and 2022, respectively, are included in General, Administrative and Other in the accompanying consolidated statements of operations. Additionally, KKR’s fixed assets are predominantly located in the United States. (4) Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign currency denominated investments. Such instruments are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. See Note 4 "Net Gains (Losses) from Investment Activities - Asset Management and Strategic Holdings" in our financial statements for the net changes in fair value associated with these instruments. (5) As of December 31, 2024, the carrying value of goodwill is recorded and assessed for impairment at the reporting unit. As of December 31, 2024, there are approximately $(82.9) million of cumulative foreign currency translation adjustments included in AOCI related to the goodwill recorded as result of the acquisition of KJRM. (6) As of December 31, 2024, there are approximately $(282.7) million of cumulative foreign currency translation adjustments included in AOCI related to the intangible assets recorded as result of the acquisition of KJRM. (7) For Asset Management, non-cancelable operating leases consist of leases for office space in North America, Europe, Asia, and Australia. KKR is the lessee under the terms of the operating leases. The operating lease cost was $89.7 million, $67.8 million, and $54.2 million for the years ended December 31, 2024, 2023, and 2022, respectively. For Insurance, non-cancelable operating leases consist of leases for office space and land in the U.S. For the years ended December 31, 2024, 2023, and 2022, the operating lease cost was $20.9 million, $21.9 million, and $25.0 million, respectively. (8) The definite life intangible assets are amortized using the straight-line method over the useful life of the assets which is an average of 11.7 years. The indefinite life intangible assets are not subject to amortization. The amortization expense of definite life intangible assets was $19.1 million, $17.6 million, and $17.6 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Schedule of Accounts Payable, Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities consist of the following: December 31, 2024 December 31, 2023 Asset Management and Strategic Holdings Amounts Payable to Carry Pool (1) $ 4,170,773 $ 2,664,694 Unsettled Investment Purchases (2) 2,081,970 574,986 Securities Sold Short (3) 109,168 149,136 Derivative Liabilities — 2,382 Accrued Compensation and Benefits 130,717 210,625 Interest Payable 467,324 492,501 Foreign Exchange Contracts and Options (4) 131,339 441,608 Accounts Payable and Accrued Expenses 425,731 221,851 Taxes Payable 91,398 39,255 Uncertain Tax Positions 42,054 23,579 Unfunded Revolver Commitments 96,848 94,683 Operating Lease Liabilities (5) 722,241 360,852 Deferred Tax Liabilities, net 2,840,342 2,370,118 Other Liabilities 138,598 72,145 Total Asset Management and Strategic Holdings $ 11,448,503 $ 7,718,415 Insurance Accrued Expenses $ 562,226 $ 607,262 Unsettled Investment Purchases (2) and Derivative Collateral Liabilities 347,121 205,669 Insurance Operations Balances in Course of Settlement 190,775 250,367 Securities Sold Under Agreements to Repurchase 261,396 1,358,434 Derivative Liabilities 389,187 146,197 Operating Lease Liabilities (5) 185,547 193,566 Accrued Employee Related Expenses 107,049 370,984 Interest Payable 40,315 15,894 Tax Payable to Former Parent Company 49,477 62,545 Accounts and Commissions Payable 31,414 32,104 Other Tax Related Liabilities 22,455 12,984 Total Insurance $ 2,186,962 $ 3,256,006 Total Accrued Expenses and Other Liabilities $ 13,635,465 $ 10,974,421 (1) Represents the amount of carried interest payable to current and former KKR employees arising from KKR's investment funds and co-investment vehicles that provide for carried interest. (2) Primarily includes amounts owed to third parties for investment purchases for which cash settlement has not occurred. (3) Represents the obligations of KKR to deliver a specified security at a future point in time. Such securities are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. See Note 4 "Net Gains (Losses) from Investment Activities - Asset Management and Strategic Holdings" in our financial statements for the net changes in fair value associated with these instruments. (4) Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign currency denominated investments. Such instruments are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. See Note 4 "Net Gains (Losses) from Investment Activities - Asset Management and Strategic Holdings" in our financial statements for the net changes in fair value associated with these instruments. (5) For Asset Management, operating leases for office space have remaining lease terms that range from approximately 1 year to 16 years, some of which include options to extend the leases from 2 years to 10 years. The weighted average remaining lease terms were 13.1 years and 10.3 years as of December 31, 2024 and December 31, 2023, respectively. The weighted average discount rates were 3.7% and 2.9% as of December 31, 2024 and December 31, 2023, respectively. For Insurance, operating leases for office space have remaining lease terms that range from approximately 1 year to 10 years, some of which include options to extend the leases for up to 10 years. The weighted average remaining lease terms were 7.4 years and 7.6 years

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Maximum Exposure to Loss, Before Allocations to the Carry Pool and Noncontrolling Interests, if any, for VIEs	As of December 31, 2024 and December 31, 2023, the maximum exposure to loss, before allocations to the carry pool and noncontrolling interests, if any, for those VIEs in which KKR is determined not to be the primary beneficiary but in which it has a variable interest is as follows: Asset Management and Strategic Holdings December 31, 2024 December 31, 2023 Investments $ 9,798,370 $ 7,877,904 Due from (to) Affiliates, net 1,437,525 1,097,939 Maximum Exposure to Loss $ 11,235,895 $ 8,975,843 Insurance Real Assets $ 124,910 $ 189,029 Other Investments 664,951 35,721 Maximum Exposure to Loss $ 789,861 $ 224,750 Total Maximum Exposure to Loss $ 12,025,756 $ 9,200,593

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt Obligations	KKR's Asset Management and Strategic Holdings debt obligations consisted of the following: December 31, 2024 December 31, 2023 By remaining maturity at Financing Available Principal Carrying Value Fair Financing Available Principal Carrying Value Fair Revolving Credit Facilities: (1) Under 1 Year $ 750,000 $ — $ — $ — $ 750,000 $ — $ — $ — 1-5 Years 3,468,753 — — — 2,236,492 — — — After 5 Years — — — — — — — — Subtotal 4,218,753 — — — 2,986,492 — — — KKR USD Senior Notes: (2)(3)(6)(8) Under 1 Year — — — — — — — — 1-5 Years — 750,000 746,000 709,328 — — — — After 5 Years — 4,250,000 4,167,548 3,436,331 — 5,000,000 4,890,919 4,181,595 Subtotal — 5,000,000 4,913,548 4,145,659 — 5,000,000 4,890,919 4,181,595 KKR Yen Senior Notes: (2)(3)(6) Under 1 Year — 31,788 31,762 31,766 — — — — 1-5 Years — 830,314 826,986 823,390 — 610,552 608,047 606,447 After 5 Years — 591,902 584,999 570,285 — 363,069 357,986 337,097 Subtotal — 1,454,004 1,443,747 1,425,441 — 973,621 966,033 943,544 KKR Euro Senior Notes: (2)(3)(6) Under 1 Year — — — — — — — — 1-5 Years — 673,366 669,325 634,836 — 717,400 712,331 646,248 After 5 Years — — — — — — — — Subtotal — 673,366 669,325 634,836 — 717,400 712,331 646,248 KKR Subordinated Notes: (2)(3)(7) Under 1 Year — — — — — — — — 1-5 Years — — — — — — — — After 5 Years — 500,000 487,110 366,200 — 500,000 486,755 377,400 Subtotal — 500,000 487,110 366,200 — 500,000 486,755 377,400 KFN USD Senior Notes: (2)(3)(4)(9) Under 1 Year — — — — — — — — 1-5 Years — — — — — — — — After 5 Years — 690,000 684,730 608,237 — 690,000 684,032 624,018 Subtotal — 690,000 684,730 608,237 — 690,000 684,032 624,018 KFN Junior Subordinated Notes: (2)(4)(5)(9) Under 1 Year — — — — — — — — 1-5 Years — — — — — — — — After 5 Years — 258,517 240,136 211,909 — 258,517 238,801 208,902 Subtotal — 258,517 240,136 211,909 — 258,517 238,801 208,902 Total KKR & KFN Notes 4,218,753 8,575,887 8,438,596 7,392,282 2,986,492 8,139,538 7,978,871 6,981,707 Other Debt Obligations: (1)(2)(8) 5,628,669 37,697,802 37,495,324 37,409,158 6,618,692 37,274,503 36,907,999 36,699,920 Total $ 9,847,422 $ 46,273,689 $ 45,933,920 $ 44,801,440 $ 9,605,184 $ 45,414,041 $ 44,886,870 $ 43,681,627 (1) Financing available is reduced by the dollar amounts specified in any issued letters of credit. (2) Carrying value includes: (i) unamortized note discount (net of premium), as applicable and (ii) unamortized debt issuance costs, as applicable. Financing costs related to the issuance of the notes have been deducted from the note liability and are being amortized over the life of the notes. (3) Interest rates of the notes are fixed and the weighted average interest rates are the following: December 31, 2024 December 31, 2023 KKR USD Senior Notes 4.23% 4.23% KKR Yen Senior Notes 1.67% 1.46% KKR Euro Senior Notes 1.63% 1.63% KKR Subordinated Notes 4.63% 4.63% KFN USD Senior Notes 5.44% 5.44% (4) These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments. (5) Interest rates of the notes are floating and the weighted average interest rate is 7.3% and 8.1% and the weighted average years to maturity is 11.8 years and 12.8 years as of December 31, 2024 and December 31, 2023, respectively. (6) The notes are classified as Level II within the fair value hierarchy and fair value is determined by third party broker quotes. (7) The notes are classified as Level I within the fair value hierarchy and fair value is determined by quoted prices in active markets since the debt is publicly listed. (8) As of December 31, 2024 and December 31, 2023, the principal value, carrying value and fair value reflects the elimination for the portion of applicable debt obligations that are held by Global Atlantic. (9) KKR consolidates and reports debt obligations of KKR Financial Holdings LLC, a KKR subsidiary ("KFN"), which are non-recourse to KKR beyond the assets of KFN. From time to time, KKR may provide credit support for the funding obligations of its subsidiaries. Global Atlantic's debt obligations consisted of the following: December 31, 2024 December 31, 2023 By Remaining Maturity at Financing Available Principal Carrying Value (1) Fair Value (2) Financing Available Principal Carrying Value (1) Fair Value (2) Revolving Credit Facilities: Under 1 Year $ — $ — $ — $ — $ — $ — $ — $ — 1-5 Years 1,000,000 — — — 800,000 200,000 200,000 200,000 After 5 Years — — — — — — — — Subtotal 1,000,000 — — — 800,000 200,000 200,000 200,000 Senior Notes: (4) Under 1 Year — — — — — — — — 1-5 Years — 500,000 459,138 474,250 — — — — After 5 Years — 2,050,000 1,854,183 2,040,505 — 1,800,000 1,648,467 1,715,155 Subtotal — 2,550,000 2,313,321 2,514,755 — 1,800,000 1,648,467 1,715,155 Subordinated Notes: (4) Under 1 Year — — — — — — — — 1-5 Years — — — — — — — — After 5 Years — 1,350,000 1,329,615 1,353,975 — 750,000 739,390 643,575 Subtotal — 1,350,000 1,329,615 1,353,975 — 750,000 739,390 643,575 Debt Obligations of Consolidated Special Purpose Vehicles (3) 269,600 70,400 70,400 70,394 — — — — Total $ 1,269,600 $ 3,970,400 $ 3,713,336 $ 3,939,124 $ 800,000 $ 2,750,000 $ 2,587,857 $ 2,558,730 (1) Carrying value of debt as of December 31, 2024 and 2023, includes purchase accounting adjustments of $34.1 million and $40.2 million, respectively, net debt issuance costs of $(57.9) million and $(36.5) million, respectively, and cumulative fair value loss on hedged debt obligations of $(233.2) million and $(165.8) million, respectively. The amortization of the purchase accounting adjustments was $6.1 million, $3.1 million, and $7.8 million for the years ended December 31, 2024, 2023, and 2022, respectively. (2) These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments. (3) These debt obligations primarily include debt obligations of consolidated sponsored reinsurance vehicles that are not guaranteed by KKR or Global Atlantic. (4) Interest rates of the notes are fixed and the weighted average interest rates are the following: December 31, 2024 December 31, 2023 Senior Notes 5.67% 5.22% Subordinated Notes 6.14% 4.70%
Schedule of Other Debt Obligations	As of December 31, 2024, other debt obligations consisted of the following: Financing Available Principal Carrying Value Fair Value Weighted Weighted Average Remaining Maturity in Years Financing Facilities of Consolidated Funds and Other (1) $ 5,628,669 $ 10,368,391 $ 10,344,515 $ 10,258,349 5.7% 4.4 Debt Obligations of Consolidated CFEs — 27,329,411 27,150,809 27,150,809 (2) 10.4 $ 5,628,669 $ 37,697,802 $ 37,495,324 $ 37,409,158 (1) Includes borrowings collateralized by fund investments, fund co-investments, and other assets held by levered investment vehicles of $2.8 billion. (2) The senior notes of the consolidated CFEs had a weighted average interest rate of 6.1%. The subordinated notes of the consolidated CLOs do not have contractual interest rates but instead receive a pro rata amount of the net distributions from the excess cash flows of the respective CLO vehicle. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the period, if any.
Schedule of Maturities of Long-Term Debt	Scheduled principal payments for Asset Management and Strategic Holdings debt obligations at December 31, 2024 are as follows: Revolving Credit Facilities Notes Issued Other Debt Obligations Total 2025 — 31,788 3,685,902 3,717,690 2026 — — 496,776 496,776 2027 — 231,420 404,349 635,769 2028 — 284,188 614,527 898,715 2029 — 1,738,072 574,652 2,312,724 Thereafter — 6,290,419 31,921,596 38,212,015 $ — $ 8,575,887 $ 37,697,802 $ 46,273,689 Scheduled principal payments for Insurance debt obligations at December 31, 2024 are as follows: Revolving Credit Facilities Notes Issued Other Debt Obligations Total 2025 $ — $ — $ — $ — 2026 — — — — 2027 — — 70,400 70,400 2028 — — — — 2029 — 500,000 — 500,000 Thereafter — 3,400,000 — 3,400,000 $ — $ 3,900,000 $ 70,400 $ 3,970,400

POLICY LIABILITIES (Tables)

POLICY LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Schedule of Policyholder Account Balance and Liability for Unpaid Claims and Claims Adjustment Expense	The following reflects the reconciliation of the components of policy liabilities to the total balance reported in the consolidated statements of financial condition as of December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Policyholders’ Account Balances $ 137,881,796 $ 125,187,354 Liability for Future Policy Benefits 26,795,091 17,823,750 Additional Liability for Annuitization, Death, or Other Insurance Benefits 7,491,915 7,129,785 Market Risk Benefit Liability 1,002,236 1,120,968 Other Policy-related Liabilities (1) 12,034,328 8,796,414 Total Policy Liabilities $ 185,205,366 $ 160,058,271 (1) Other policy-related liabilities as of December 31, 2024 and 2023 primarily consist of embedded derivatives associated with contractholder deposit funds ($6.0 billion and $4.0 billion, respectively), cost-of-reinsurance liabilities ($3.1 billion and $1.8 billion, respectively), policy liabilities accounted under a fair value option (both $1.2 billion), negative VOBA ($766.3 million and $867.9 million, respectively) and outstanding claims ($303.8 million and $235.1 million, respectively).
Schedule of Policyholder Account Balance	The following reflects the policyholders’ account balances roll-forward for the years ended December 31, 2024 and 2023, and the policyholders’ account balances weighted average interest rates, net amount at risk, and cash surrender value as of those dates: Year Ended December 31, 2024 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Funding Agreements Other (1) Total Balance as of Beginning of Period $ 56,762,736 $ 30,168,445 $ 21,969,053 $ 7,015,998 $ 9,271,122 $ 125,187,354 Issuances and Premiums Received 16,453,922 8,097,987 1,991,442 2,372,925 1,611,601 30,527,877 Benefit Payments, Surrenders, and Withdrawals (10,038,636) (5,211,414) (1,453,435) (2,553,181) (1,579,574) (20,836,240) Interest (2) 2,305,618 773,638 723,201 277,270 343,238 4,422,965 Other Activity (3) (397,023) (110,321) (1,054,364) 45,091 96,457 (1,420,160) Balance as of End of Period $ 65,086,617 $ 33,718,335 $ 22,175,897 $ 7,158,103 $ 9,742,844 $ 137,881,796 Less: Reinsurance Recoverable (11,664,932) (3,074,278) (7,504,951) — (3,532,472) (25,776,633) Balance as of End of Period, Net of Reinsurance Recoverable $ 53,421,685 $ 30,644,057 $ 14,670,946 $ 7,158,103 $ 6,210,372 $ 112,105,163 Average Interest Rate 4.05 % 2.74 % 3.29 % 4.21 % 3.31 % 3.56 % Net Amount at Risk, Gross of Reinsurance (4) $ — $ — $ 111,882,678 $ — $ 1,140,998 $ 113,023,676 Cash Surrender Value (5) $ 50,421,300 $ 33,928,559 $ 13,974,862 $ — $ 4,458,881 $ 102,783,602 (1) “Other” consists of activity related to payout annuities without life contingencies, preneed, variable annuities, and life products. (2) Interest includes interest credited to policyholders’ account values, and interest accreted in other components of the policyholder account balance, including investment-type contract values, host amounts for contractholder deposits with embedded derivatives, funding agreements, and other associated reserves. (3) “Other activity” includes policy charges, fees and commissions, transfers, assumption changes, fair value changes, and the impact of hedge fair value adjustments. (4) Net amount at risk represents the difference between the face value of the insurance policy and the reserve accumulated under that same policy. (5) Cash surrender values are reported net of any applicable surrender charges, net of reinsurance. Year Ended December 31, 2023 Fixed Rate Annuities Fixed Indexed Annuities Interest Sensitive Life Funding Agreements Other (1) Total Balance as of Beginning of Period $ 48,510,703 $ 29,123,926 $ 17,397,185 $ 7,535,489 $ 9,713,933 $ 112,281,236 Issuances and Premiums Received 16,604,445 4,891,428 5,824,786 510,000 675,340 28,505,999 Benefit Payments, Surrenders, and Withdrawals (9,493,423) (4,234,383) (917,240) (1,415,763) (1,585,439) (17,646,248) Interest (2) 1,483,545 533,127 497,919 226,394 303,026 3,044,011 Other Activity (3) (342,534) (145,653) (833,597) 159,878 164,262 (997,644) Balance as of End of Period $ 56,762,736 $ 30,168,445 $ 21,969,053 $ 7,015,998 $ 9,271,122 $ 125,187,354 Less: Reinsurance Recoverable (10,279,657) (3,191,151) (7,190,573) — (3,021,333) (23,682,714) Balance as of End of Period, Net of Reinsurance Recoverable $ 46,483,079 $ 26,977,294 $ 14,778,480 $ 7,015,998 $ 6,249,789 $ 101,504,640 Average Interest Rate 3.36 % 2.15 % 3.28 % 3.12 % 2.74 % 2.94 % Net Amount at Risk, Gross of Reinsurance (4) $ — $ — $ 135,840,650 $ — $ 1,168,689 $ 137,009,339 Cash Surrender Value (5) $ 43,590,426 $ 28,429,388 $ 15,161,982 $ — $ 4,659,916 $ 91,841,712 (1) “Other” consists of activity related to payout annuities without life contingencies, preneed, variable annuities, and life products. (2) Interest includes interest credited to policyholders’ account values, and interest accreted in other components of the policyholder account balance, including investment-type contract values, host amounts for contractholder deposits with embedded derivatives, funding agreements, and other associated reserves. (3) “Other activity” includes policy charges, fees and commissions, transfers, assumption changes, fair value changes, and the impact of hedge fair value adjustments. (4) Net amount at risk represents the difference between the face value of the insurance policy and the reserve accumulated under that same policy. (5) Cash surrender values are reported net of any applicable surrender charges, net of reinsurance.
Schedule of Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The following table presents the account values by range of guaranteed minimum crediting rates and the related range of differences, in basis points, between rates being credited to policyholders and the respective guaranteed minimums. Account values, as disclosed below, differ from policyholder account balances as they exclude balances associated with index credits, contractholder deposit fund host balances, funding agreements, and other associated reserves. In addition, policyholder account balances include discounts and premiums on assumed business which are not reflected in account values. As of December 31, 2024 Account Values with Adjustable Crediting Rates Subject to Guaranteed Minimums: Range of guaranteed minimum crediting rates: At Guaranteed Minimum 1 - 49 bps Above Guaranteed Minimum 50 - 99 bps Above Guaranteed Minimum 100 - 150 bps Above Guaranteed Minimum Greater Than 150 bps Above Guaranteed Minimum Total Less Than 1.00% $ 3,479,329 $ 36,286 $ 357,440 $ 740,947 $ 32,674,542 $ 37,288,544 1.00% - 1.99% 1,304,845 738,935 805,357 1,867,453 10,903,160 15,619,750 2.00% - 2.99% 769,182 36,663 56,798 697,085 3,671,581 5,231,309 3.00% - 4.00% 10,302,787 1,619,059 474,803 1,253,515 1,478,389 15,128,553 Greater Than 4.00% 11,785,696 1,353,687 76,806 7,020 — 13,223,209 Total $ 27,641,839 $ 3,784,630 $ 1,771,204 $ 4,566,020 $ 48,727,672 $ 86,491,365 Percentage of Total 32 % 4 % 2 % 5 % 57 % 100 % As of December 31, 2023 Account Values with Adjustable Crediting Rates Subject to Guaranteed Minimums: Range of guaranteed minimum crediting rates: At Guaranteed Minimum 1 - 49 bps Above Guaranteed Minimum 50 - 99 bps Above Guaranteed Minimum 100 - 150 bps Above Guaranteed Minimum Greater Than 150 bps Above Guaranteed Minimum Total Less Than 1.00% $ 2,706,701 $ 25,839 $ 660,189 $ 3,546,450 $ 25,940,436 $ 32,879,615 1.00% - 1.99% 1,471,320 1,013,423 999,852 1,968,519 6,603,795 12,056,909 2.00% - 2.99% 896,276 44,850 55,874 109,411 1,310,234 2,416,645 3.00% - 4.00% 12,494,439 1,186,572 414,111 953,560 1,067,325 16,116,007 Greater Than 4.00% 12,095,647 1,385,538 138,112 117,561 298,493 14,035,351 Total $ 29,664,383 $ 3,656,222 $ 2,268,138 $ 6,695,501 $ 35,220,283 $ 77,504,527 Percentage of Total 38 % 5 % 3 % 9 % 45 % 100 %
Schedule of Balances of and Changes in Liability for Future Policy Benefits, and Revenue and Interest Recognized	The following tables summarize the balances of, and changes in, the liability for future policy benefits for traditional and limited-payment contracts for the years ended December 31, 2024 and 2023: Years Ended December 31, 2024 December 31, 2023 Payout Annuities (1) Other (2) Total Payout Annuities (1) Other (2) Total Present Value of Expected Net Premiums Balance as of Beginning of Period $ — $ (208,370) $ (208,370) $ — $ (255,401) $ (255,401) Balance at Original Discount Rate $ — $ (241,058) $ (241,058) $ — $ (308,674) $ (308,674) Effect of Changes in Cash Flow Assumptions — — — — 43,842 43,842 Effect of Actual Variances from Expected Experience — (99,920) (99,920) — (4,839) (4,839) Adjusted Beginning of Period Balance — (340,978) (340,978) — (269,671) (269,671) Years Ended December 31, 2024 December 31, 2023 Payout Annuities (1) Other (2) Total Payout Annuities (1) Other (2) Total Issuances — (1,276,555) (1,276,555) — — — Interest — (48,966) (48,966) — (4,314) (4,314) Net Premiums Collected — 221,836 221,836 — 32,927 32,927 Ending Balance at Original Discount Rate — (1,444,663) (1,444,663) — (241,058) (241,058) Effect of Changes in Discount Rate Assumptions — 45,452 45,452 — 32,688 32,688 Balance as of End of Period $ — $ (1,399,211) $ (1,399,211) $ — $ (208,370) $ (208,370) Present Value of Expected Future Policy Benefits Balance as of Beginning of Period $ 17,427,353 $ 604,767 $ 18,032,120 $ 14,021,515 $ 679,806 $ 14,701,321 Balance at Original Discount Rate $ 20,040,000 $ 701,655 $ 20,741,655 $ 17,321,203 $ 818,450 $ 18,139,653 Effect of Changes in Cash Flow Assumptions (28,430) — (28,430) (1,563) (46,438) (48,001) Effect of Actual Variances from Expected Experience 18,093 (34,295) (16,202) 29,339 13,296 42,635 Adjusted Beginning of Period Balance 20,029,663 667,360 20,697,023 17,348,979 785,308 18,134,287 Issuances 3,307,864 9,008,029 12,315,893 3,869,133 458 3,869,591 Interest 644,967 345,231 990,198 437,596 9,246 446,842 Benefit Payments (1,866,380) (683,709) (2,550,089) (1,615,708) (93,357) (1,709,065) Ending Balance at Original Discount Rate 22,116,114 9,336,911 31,453,025 20,040,000 701,655 20,741,655 Effect of Changes in Discount Rate Assumptions (3,048,636) (210,087) (3,258,723) (2,612,647) (96,888) (2,709,535) Balance as of End of Period 19,067,478 9,126,824 28,194,302 17,427,353 604,767 18,032,120 Net Liability for Future Policy Benefits 19,067,478 7,727,613 26,795,091 17,427,353 396,397 17,823,750 Less: Reinsurance Recoverable (3) (9,579,679) (6,139,016) (15,718,695) (9,270,511) (3,042) (9,273,553) Net Liability for Future Policy Benefits, Net of Reinsurance Recoverables $ 9,487,799 $ 1,588,597 $ 11,076,396 $ 8,156,842 $ 393,355 $ 8,550,197 (1) Payout annuities generally only have a single premium received at contract inception. As a result, the liability for future policy benefits generally would not reflect a present value for future premiums for payout annuities. (2) “Other” consists of activity related to long-term care insurance, variable annuities, traditional life insurance, preneed insurance, and fixed-rate annuity products. Mortality and morbidity risks associated with the long-term care insurance have been ceded to a third-party reinsurer. (3) Reinsurance recoverables associated with the liability for future policy benefits is net of the effect of changes in discount rate assumptions of $(284.7) million and $389.9 million for the years ended December 31, 2024 and 2023, respectively. The following table summarizes the amount of gross premiums related to traditional and limited-payment contracts recognized in the consolidated statements of operations for the years ended December 31, 2024, 2023, and 2022: Gross Premiums Years Ended December 31, 2024 2023 2022 Payout Annuities $ 3,577,363 $ 4,143,287 $ 2,400,351 Other 8,943,328 64,493 72,159 Total Products $ 12,520,691 $ 4,207,780 $ 2,472,510 The following table reflects the weighted-average duration and weighted-average interest rates of the future policy benefit liability as of December 31, 2024 and 2023: As of December 31, 2024 Payout Annuities Other Weighted-Average Interest Rates, Original Discount Rate 3.81 % 4.89 % Weighted-Average Interest Rates, Current Discount Rate 5.44 % 5.51 % Weighted-Average Liability Duration (Years, Current Rates) 8.45 9.46 As of December 31, 2023 Payout Annuities Other Weighted-Average Interest Rates, Original Discount Rate 3.37 % 2.57 % Weighted-Average Interest Rates, Current Discount Rate 4.95 % 4.95 % Weighted-Average Liability Duration (Years, Current Rates) 8.58 9.03 The following reflects the undiscounted ending balance of expected future gross premiums and expected future benefits and payments for traditional and limited-payment contracts, as of December 31, 2024 and 2023: As of December 31, 2024 Payout Annuities Other Expected Future Benefit Payments, Undiscounted $ 33,415,451 $ 16,509,005 Expected Future Benefit Payments, Discounted (Original Discount Rate) 22,116,114 9,336,911 Expected Future Benefit Payments, Discounted (Current Discount Rate) 19,067,478 9,126,824 Expected Future Gross Premiums, Undiscounted — 2,072,528 Expected Future Gross Premiums, Discounted (Original Discount Rate) — 1,614,118 Expected Future Gross Premiums, Discounted (Current Discount Rate) — 1,567,542 As of December 31, 2023 Payout Annuities Other Expected Future Benefit Payments, Undiscounted $ 29,164,580 $ 832,608 Expected Future Benefit Payments, Discounted (Original Discount Rate) 19,899,423 689,760 Expected Future Benefit Payments, Discounted (Current Discount Rate) 17,427,352 604,768 Expected Future Gross Premiums, Undiscounted — 377,693 Expected Future Gross Premiums, Discounted (Original Discount Rate) — 317,710 Expected Future Gross Premiums, Discounted (Current Discount Rate) — 262,653
Schedule of Additional Liability, Long-Duration Insurance	The following tables reflect the additional liability for annuitization, death, or other insurance benefits roll-forward for the years ended December 31, 2024 and 2023: Years Ended December 31, 2024 2023 Balance as of Beginning of Period $ 7,251,266 $ 5,104,810 Effect of Changes in Cash Flow Assumptions (16,361) 13,773 Effect of Changes in Experience (59,717) (43,775) Adjusted Balance as of Beginning of Period 7,175,188 5,074,808 Issuances 23,401 1,929,571 Assessments 694,061 495,559 Benefits Paid (504,520) (399,201) Interest 242,080 150,529 Balance as of End of Period 7,630,210 7,251,266 Less: Impact of Unrealized Investment Gains and Losses 138,295 121,481 Less: Reinsurance Recoverable, End of Period 1,586,281 1,434,130 Balance, End of Period, Net of Reinsurance Recoverable and Impact of Unrealized Investment Gains and Losses $ 5,905,634 $ 5,695,655 The following reflects the amount of gross assessments recognized for the additional liability for annuitization, death, or other insurance benefits in the consolidated statements of operations for the years ended December 31, 2024, 2023, and 2022: Gross Assessments Years Ended December 31, 2024 2023 2022 Total Amount Recognized Within Revenue in the Consolidated Statements of Operations $ 710,732 $ 471,957 $ 586,269 The following reflects the weighted average duration and weighted average interest rate for the additional liability for annuitization, death, or other insurance benefits as of December 31, 2024 and 2023: As of December 31, 2024 December 31, 2023 Weighted-Average Interest, Current Discount Rate 3.29 % 3.09 % Weighted-Average Liability Duration (Years) 26.51 27.64
Schedule of Market Risk Benefit, Activity	The following table presents the balances of, and changes in, market risk benefits: Years Ended December 31, 2024 December 31, 2023 Fixed-indexed Annuity Variable- and Other Annuities Total Fixed-indexed Annuity Variable- and Other Annuities Total Balance as of Beginning of Period $ 868,268 $ 252,683 $ 1,120,951 $ 548,536 $ 120,322 $ 668,858 Balance as of Beginning of Period, Before Impact of Changes in Instrument-specific Credit Risk $ 790,615 $ 225,594 $ 1,016,209 $ 651,641 $ 150,558 $ 802,199 Issuances 59,261 (49) 59,212 1,839 (36) 1,803 Interest 41,965 10,142 52,107 38,739 8,590 47,329 Attributed Fees Collected 104,938 89,462 194,400 103,961 83,712 187,673 Benefit Payments (7,240) (7,080) (14,320) (4,366) (1,729) (6,095) Effect of Changes in Interest Rates (177,230) (79,171) (256,401) (27,401) 4,464 (22,937) Effect of Changes in Equity Markets (18,262) (69,324) (87,586) (23,026) (86,643) (109,669) Effect of Actual Experience Different from Assumptions 49,020 (17,322) 31,698 142,453 11,021 153,474 Effect of Changes in Other Future Expected Assumptions (126,523) (2,145) (128,668) (93,225) 55,657 (37,568) Balance as of End of Period Before Impact of Changes in Instrument-Specific Credit Risk 716,544 150,107 866,651 790,615 225,594 1,016,209 Effect of Changes in Instrument-specific Credit Risk 99,437 33,829 133,266 77,653 27,089 104,742 Balance as of End of Period 815,981 183,936 999,917 868,268 252,683 1,120,951 Less: Reinsurance Recoverable as of the End of the Period — (11,371) (11,371) — (14,214) (14,214) Balance as of End of Period, Net of Reinsurance Recoverable $ 815,981 $ 172,565 $ 988,546 $ 868,268 $ 238,469 $ 1,106,737 Net Amount at Risk $ 4,696,606 $ 1,288,267 $ 5,984,873 $ 4,282,995 $ 1,423,763 $ 5,706,758 Weighted-average Attained Age of Contract holders (Years) 71 70 71 70 69 70 The following reflects the reconciliation of the market risk benefits reflected in the preceding table to the amounts reported in an asset and liability position, respectively, in the consolidated statements of financial condition as of December 31, 2024 and 2023: As of December 31, 2024 As of December 31, 2023 Asset Liability Net Asset Liability Net Fixed-Indexed Annuities $ 2,319 $ 818,300 $ (815,981) $ — $ 868,268 $ (868,268) Variable- and Other Annuities — 183,936 (183,936) 17 252,700 (252,683) Total $ 2,319 $ 1,002,236 $ (999,917) $ 17 $ 1,120,968 $ (1,120,951)
Schedule of Separate Account, Liability	The following table presents the balances of and changes in separate account liabilities: December 31, 2024 December 31, 2023 Variable Annuities Interest-Sensitive Life Total Variable Annuities Interest-Sensitive Life Total Balance as of Beginning of Period $ 3,565,029 $ 541,971 $ 4,107,000 $ 3,627,770 $ 503,024 $ 4,130,794 Premiums and Deposits 25,846 13,014 38,860 30,669 13,723 44,392 Surrenders, Withdrawals and Benefit Payments (551,657) (25,219) (576,876) (470,858) (22,207) (493,065) Investment Performance 474,335 94,489 568,824 497,887 95,314 593,201 Other (112,936) (43,812) (156,748) (120,439) (47,883) (168,322) Balance as of End of Period $ 3,400,617 $ 580,443 $ 3,981,060 $ 3,565,029 $ 541,971 $ 4,107,000 Cash Surrender Value as of End of Period (1) $ 3,400,617 $ 580,443 $ 3,981,060 $ 3,565,029 $ 541,971 $ 4,107,000 (1) Cash surrender value attributed to the separate accounts does not reflect the impact of surrender charges; surrender charges are attributed to policyholder account balances recorded in the general account.
Schedule of Fair Value, Separate Account Investment	The following table presents the aggregate fair value of assets, by major investment asset type, supporting separate accounts: December 31, 2024 December 31, 2023 Asset Type: Managed Volatility Equity/Fixed Income Blended Fund $ 1,930,973 $ 2,131,149 Equity 1,685,944 1,596,467 Fixed Income 146,475 152,398 Money Market 217,086 226,387 Alternative 582 599 Total Assets Supporting Separate Account Liabilities $ 3,981,060 $ 4,107,000 Closed Blocks Summarized financial information of Global Atlantic’s closed blocks is as follows: December 31, 2024 December 31, 2023 Assets Total Investments $ 1,361 $ 1,272 Cash and Cash Equivalents 9,062 6,332 Accrued Investment Income 46 46 Reinsurance Recoverable 940,732 926,035 Deferred Income Taxes 50,321 42,926 Total Assets 1,001,522 976,611 Liabilities Policy Liabilities 899,732 877,856 Policyholder Dividend Obligation at Fair Value 76,297 77,762 Policyholder Dividends Payable at Fair Value 9,578 10,240 Total Policy Liabilities 985,607 965,858 Accrued Expenses and Other Liabilities 13,639 12,793 Total Liabilities 999,246 978,651 Excess of Closed Block Liabilities Over Assets Designated to the Closed Blocks and Maximum Future Earnings to be Recognized from Closed Block Assets and Liabilities $ (2,276) $ 2,040 Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Revenues Premiums and Other Income $ 1,449 $ (911) $ (436) Net Investment Expense 332 319 164 Total Revenues 1,781 (592) (272) Benefits and Expenses Policy Benefits and Claims (929) (2,219) (12,141) Other Expenses 44 (13) 251 Total Benefits and Expenses (885) (2,232) (11,890) Net Contribution from the Closed Blocks 2,666 1,640 11,618 Income Tax (Benefit) Expense (7,367) 861 16,185 Net Income (Loss) $ 10,033 $ 779 $ (4,567) Many expenses related to the closed block operations are charged to operations outside the closed blocks; accordingly, the contribution from the closed blocks does not represent the actual profitability of the closed block operations. The closed blocks of business represent policies acquired through acquisition, which were valued at fair value as of the acquisition date.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income (loss) before Income Tax, Domestic and Foreign	Income (loss) before income taxes includes the following components: For the Years Ended December 31, 2024 2023 2022 Income (Loss) before Income Taxes: United States $ 5,087,745 $ 5,614,242 $ (713,238) Foreign 772,688 940,367 421,017 Total Income (Loss) before Income Taxes $ 5,860,433 $ 6,554,609 $ (292,221)
Schedule of Components of Income Tax Expense (Benefit)	The provision (benefit) for income taxes consists of the following: For the Years Ended December 31, 2024 2023 2022 Current Federal $ 363,242 $ 462,940 $ 737,737 State and Local 93,925 52,480 97,074 Foreign 188,837 108,836 94,473 Subtotal 646,004 624,256 929,284 Deferred Federal 249,601 447,488 (703,169) State and Local 62,538 121,198 (83,113) Foreign (3,747) 4,581 (17,609) Subtotal 308,392 573,267 (803,891) Total Income Taxes $ 954,396 $ 1,197,523 $ 125,393
Schedule of Effective Income Tax Rate Reconciliation	The following table reconciles the U.S. Federal Statutory Tax Rate to the Effective Income Tax Rate: For the Years Ended December 31, 2024 2023 2022 Statutory U.S. Federal Income Tax Rate 21.0 % 21.0 % 21.0 % Income not attributable to KKR & Co. Inc. (1) (15.5) % (8.8) % (94.1) % Foreign Income Taxes — % (0.3) % 0.8 % State and Local Income Taxes 2.2 % 2.2 % (4.6) % Compensation Charges not attributable to KKR & Co. Inc. 10.1 % 4.9 % 31.4 % Change in Valuation Allowance (1.1) % — % — % Non-Deductible Expenses 1.1 % — % (0.8) % Other (1.5) % (0.7) % 3.4 % Effective Income Tax Rate 16.3 % 18.3 % (42.9) % (1)
Schedule of Deferred Tax Assets and Liabilities	A summary of the tax effects of the temporary differences is as follows: Asset Management and Strategic Holdings December 31, 2024 December 31, 2023 Deferred Tax Assets Fund Management Fee Credits $ 127,006 $ 117,958 Equity Based Compensation 96,476 87,649 KKR Holdings Unit Exchanges (1) 387,836 421,065 Depreciation and Amortization (2) 140,088 172,995 Operating Lease Liability 179,640 83,594 Other 8,248 28,127 Total Deferred Tax Assets before Valuation Allowance 939,294 911,388 Valuation Allowance — — Total Deferred Tax Assets 939,294 911,388 Deferred Tax Liabilities Investment Basis Differences / Net Unrealized Gains & Losses (2)(3) 3,030,794 2,629,572 Indefinite Lived Intangible Asset (4) 444,123 494,907 Operating Lease Right-of-Use Asset 179,640 83,594 Other 74,452 24,853 Total Deferred Tax Liabilities 3,729,009 3,232,926 Total Deferred Taxes, Net $ (2,789,715) $ (2,321,538) (1) In connection with exchanges of KKR Holdings units into common stock of KKR & Co. Inc., KKR records a deferred tax asset associated with an increase in KKR & Co. Inc.'s share of the tax basis of the tangible and intangible assets of KKR Group Partnership. This amount is offset by an adjustment to record amounts due to KKR Holdings and principals under the tax receivable agreement, which is included within Due to Affiliates in the consolidated statements of financial condition. The net impact of these adjustments was recorded as an adjustment to equity at the time of the exchanges. (2) This deferred tax item includes a portion of the tax benefit KKR recognized as a result of the step-up in tax basis generated by the conversion of KKR & Co. L.P. to KKR & Co. Inc. (3) This deferred tax item includes a portion of the tax liability KKR recognized as a result of the Reorganization Mergers. See Note 1 "Organization" in our financial statements. (4) In connection with the acquisition of KJRM in 2022, KKR recognized a deferred tax liability resulting from the difference in the book and tax basis of the indefinite lived intangibles. Insurance December 31, 2024 December 31, 2023 Deferred Tax Assets Insurance Reserves $ 675,090 $ 552,373 Insurance Intangibles 461,211 358,154 Net Operating Loss and Capital Loss Carryforwards 813,382 828,727 Insurance Investment Basis Differences, Including Derivatives 819,881 587,339 Other 84,006 92,343 Total Deferred Tax Assets before Valuation Allowance 2,853,570 2,418,936 Valuation Allowance (36,933) (89,250) Total Deferred Tax Assets 2,816,637 2,329,686 Deferred Tax Liabilities Insurance Loss Reserve Adjustment 27,965 55,929 Total Deferred Tax Liabilities 27,965 55,929 Total Deferred Taxes, Net $ 2,788,672 $ 2,273,757
Schedule of Unrecognized Tax Benefits	For the years ended December 31, 2024, 2023, and 2022, KKR's unrecognized tax benefits relating to uncertain tax positions, excluding related interest and penalties, consisted of the following: For the Years Ended December 31, 2024 2023 2022 Unrecognized Tax Benefits, beginning of period $ 16,476 $ 41,008 $ 59,633 Gross increases in tax positions in prior periods 10,677 — 5,169 Gross decreases in tax positions in prior periods — (13,878) (8,414) Gross increases in tax positions in current period 5,927 935 6,261 Lapse of statute of limitations (250) (219) (551) Settlements with taxing authorities — (11,370) (21,090) Unrecognized Tax Benefits, end of period $ 32,830 $ 16,476 $ 41,008

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Payment Arrangement, Expensed and Capitalized, Amount	The following table summarizes the expense associated with equity-based compensation in connection with KKR equity incentive awards and incentive awards previously granted under the Global Atlantic Financial Company Book Value Award Plan ("GA Book Value Plan") and the Global Atlantic Senior Management Equity Incentive Plan ("GA Equity Incentive Plan") for the years ended December 31, 2024, 2023, and 2022, respectively. As of December 31, 2024, there are no awards outstanding under either the GA Book Value Plan or the GA Equity Incentive Plan. For the Years Ended December 31, 2024 2023 2022 Asset Management (1) $ 611,644 $ 502,816 $ 569,518 Insurance 134,799 115,653 160,718 Total $ 746,443 $ 618,469 $ 730,236 (1) For the year ended December 31, 2022, $119.8 million represents equity-based compensation expense in connection with the allocation of units of KKR Holdings, which were not dilutive to common stockholders of KKR & Co. Inc.
Schedule of Unvested Awards Granted Under Equity Incentive Plan	A summary of the status of unvested Service-Vesting Awards granted from January 1, 2024 through December 31, 2024 is presented below: Shares (1) Weighted Balance, January 1, 2024 23,228,671 $ 53.22 Granted 5,796,078 92.29 Vested (7,062,056) 50.29 Forfeitures (856,803) 60.07 Balance, December 31, 2024 21,105,890 $ 64.65 (1) Unvested Service-Vesting Awards include restricted stock units and restricted holdings units granted to certain current and former Global Atlantic employees. A summary of the status of unvested Market Condition Awards granted from January 1, 2024 through December 31, 2024 is presented below: Shares (1) Weighted Balance, January 1, 2024 36,497,589 $ 29.59 Granted 2,278,830 58.31 Vested (234,776) 22.10 Forfeitures (522,620) 31.44 Balance, December 31, 2024 38,019,023 $ 31.33 (1) Unvested Market Condition Awards include restricted holdings units granted to certain current and former Global Atlantic employees.
Schedule of Significant Assumptions Used to Estimate Grant Date Fair Value	Below is a summary of the grant date fair value based on the Monte Carlo simulation valuation model and the significant assumptions used to estimate the grant date fair value of these Market Condition Awards: Weighted Range Grant Date Fair Value $30.62 $19.87 - $79.94 Closing KKR share price as of valuation date $51.74 $37.93 - $98.62 Risk Free Rate 2.21% 0.41% - 4.41% Volatility 30.04% 28.00% - 38.00% Dividend Yield 1.27% 0.71% - 1.53% Expected Cost of Equity 10.74% 9.13% - 11.80% Below is a summary of the grant date fair value based on the Monte Carlo simulation valuation model and the significant assumptions used to estimate the grant date fair value of these Co-CEO Awards: Grant Date Fair Value $48.91 Closing KKR share price as of valuation date $75.76 Risk Free Rate 1.42 % Volatility 28.0 % Dividend Yield 0.77 % Expected Cost of Equity 9.36 %

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of Due from and to Affiliates	Due from Affiliates consists of: December 31, 2024 December 31, 2023 Amounts due from unconsolidated investment funds $ 1,583,090 $ 1,229,308 Amounts due from portfolio companies 272,955 217,544 Due from Affiliates $ 1,856,045 $ 1,446,852 Due to Affiliates consists of: December 31, 2024 December 31, 2023 Amounts due to current and former employees under the tax receivable agreement $ 378,951 $ 406,730 Amounts due to unconsolidated investment funds 145,565 131,369 Due to Affiliates $ 524,516 $ 538,099

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Information Regarding Segment Results and Reconciliations	The following tables set forth information regarding KKR's segment results: Years Ended December 31, 2024 2023 2022 Asset Management Management Fees (1)(2) $ 3,461,381 $ 3,030,325 $ 2,656,487 Transaction and Monitoring Fees, Net 1,165,884 720,654 775,933 Fee Related Performance Revenues 137,992 94,427 90,665 Fee Related Compensation (833,918) (865,336) (769,735) Other Operating Expenses (663,543) (596,284) (585,999) Fee Related Earnings 3,267,796 2,383,786 2,167,351 Realized Performance Income (3) 1,822,115 1,065,389 2,176,658 Realized Performance Income Compensation (1,213,327) (666,440) (1,333,526) Realized Investment Income (4) 534,668 645,031 1,033,186 Realized Investment Income Compensation (80,198) (103,590) (159,003) Asset Management Segment Earnings $ 4,331,054 $ 3,324,176 $ 3,884,666 Insurance Net Investment Income (1) (4) $ 6,328,822 $ 5,377,817 $ 4,112,244 Net Cost of Insurance (4,448,886) (3,283,009) (2,295,133) General, Administrative and Other (865,390) (805,109) (638,274) Pre-tax Operating Earnings 1,014,546 1,289,699 1,178,837 Pre-tax Operating Earnings Attributable to Noncontrolling Interests — (473,062) (454,075) Insurance Operating Earnings $ 1,014,546 $ 816,637 $ 724,762 Strategic Holdings Dividends, Net (2) $ 76,211 $ 14,531 $ 52,863 Strategic Holdings Operating Earnings 76,211 14,531 52,863 Net Realized Investment Income (3) 87,693 — 35,332 Strategic Holdings Segment Earnings $ 163,904 $ 14,531 $ 88,195 Total Segment Earnings $ 5,509,504 $ 4,155,344 $ 4,697,623 (1) Includes intersegment management fees of $537.2 million, $445.9 million, and $301.3 million earned by the Asset Management segment from the Insurance segment for the years ended December 31, 2024, 2023, and 2022, respectively. (2) Includes intersegment management fees of $31.8 million earned by the Asset Management segment from the Strategic Holdings segment for the year ended December 31, 2024. (3) Includes intersegment performances fees of $15.5 million earned by the Asset Management segment from the Strategic Holdings segment for the year ended December 31, 2024. (4) Includes intersegment interest expense of $10.2 million, $186.4 million, and $145.3 million for the years ended December 31, 2024, 2023, and 2022, respectively. As of December 31, 2024 2023 Segment Assets: Asset Management $ 25,868,340 $ 27,052,445 Insurance 243,719,868 207,160,065 Strategic Holdings 8,052,232 6,668,834 Total Segment Assets $ 277,640,440 $ 240,881,344 Years Ended December 31, Non-cash expenses excluded from Segment Earnings 2024 2023 2022 Equity Based Compensation and Other Asset Management (1) $ 611,644 $ 502,816 $ 569,518 Insurance (2) 134,799 71,579 93,508 Total Non-cash expenses $ 746,443 $ 574,395 $ 663,026 (1) For the year ended December 31, 2022, $119.8 million represents equity-based compensation expense in connection with the allocation of units of KKR Holdings, which were not dilutive to common stockholders of KKR & Co. Inc. (2) Amounts include the portion allocable to KKR & Co. Inc. The following tables reconcile Segment Revenues, Expenses, Earnings, and Assets to their equivalent GAAP measure: Years Ended December 31, 2024 2023 2022 Total GAAP Revenues $ 21,878,698 $ 14,499,312 $ 5,704,180 Impact of Consolidation and Other 1,344,972 861,928 841,711 Asset Management Adjustments: Capital Allocation-Based Income (Loss) (GAAP) (3,558,284) (2,843,437) 2,500,509 Realized Carried Interest 1,481,760 1,005,759 1,993,860 Realized Investment Income 534,668 645,031 1,033,186 Capstone Fees (110,953) (100,314) (86,665) Expense Reimbursements (152,726) (75,687) (102,927) Strategic Holdings Adjustments: Realized Investment Income and Dividends 211,157 14,531 88,195 Insurance Adjustments: Net Premiums (7,898,834) (1,975,675) (1,182,461) Policy Fees (1,377,686) (1,260,249) (1,261,721) Other Income (238,410) (176,442) (139,124) (Gains) Losses from Investments (1) 1,532,863 700,380 472,053 Non-Operating Changes in Policy Liabilities and Derivatives (32,459) (346,963) 1,072,572 Total Segment Revenues (2) $ 13,614,766 $ 10,948,174 $ 10,933,368 (1) Includes gains and losses on funds withheld receivables and payables embedded derivatives. (2) Total Segment Revenues is comprised of (i) Management Fees, (ii) Transaction and Monitoring Fees, Net, (iii) Fee Related Performance Revenues, (iv) Realized Performance Income, (v) Realized Investment Income, (vi) Net Investment Income, and (vii) Dividends, Net. Years Ended December 31, 2024 2023 2022 Total GAAP Expenses $ 20,985,860 $ 12,358,605 $ 5,997,816 Impact of Consolidation and Other (448,776) (392,778) (252,829) Equity-based compensation - KKR Holdings (1) — — (119,834) Asset Management Adjustments: Equity-based Compensation (611,644) (502,816) (449,685) Unrealized Carried Interest Compensation (1,505,558) (792,758) 1,753,396 Transaction-related and Non-operating Items (122,009) (31,805) (53,919) Reimbursable Expenses (152,726) (75,687) (102,927) Capstone Expenses (81,280) (77,642) (81,746) Insurance Adjustments: Net Premiums (7,898,834) (1,975,675) (1,182,461) Policy Fees (1,377,686) (1,260,249) (1,261,721) Other Income (238,410) (176,442) (139,124) Non-Operating Changes in Policy Liabilities (270,326) (608,081) 1,877,814 Equity-Based and Other Compensation (134,799) (115,653) (160,718) Amortization of Intangibles (17,935) (17,647) (17,647) Transaction-Related and Non-Operating Items (20,615) (11,604) (24,745) Total Segment Expenses (2) $ 8,105,262 $ 6,319,768 $ 5,781,670 (1) Represents equity-based compensation expense in connection with the allocation of KKR Holdings Units, which were not dilutive to common stockholders of KKR & Co. Inc. (2) Total Segment Expenses is comprised of (i) Fee Related Compensation, (ii) Realized Performance Income Compensation, (iii) Realized Investment Income Compensation, (iv) Net Cost of Insurance, (v) General, Administrative and Other, and (vi) Other Operating Expenses. Years Ended December 31, 2024 2023 2022 Income (Loss) Before Tax (GAAP) $ 5,860,433 $ 6,554,609 $ (292,221) Impact of Consolidation and Other (1,252,727) (1,543,641) (371,227) Interest Expense, Net 302,381 325,919 302,151 Equity-based compensation - KKR Holdings (1) — — 119,834 Asset Management Adjustments: Unrealized (Gains) Losses (673,790) (843,627) 2,445,529 Unrealized Carried Interest (1,943,200) (1,656,974) 4,231,359 Unrealized Carried Interest Compensation 1,505,558 792,758 (1,753,396) Transaction-related and Non-operating Items 122,009 31,805 94,629 Equity-based Compensation 279,418 230,858 210,756 Equity-based Compensation - Performance based 332,226 271,958 238,929 Strategic Holdings Adjustments: Unrealized (Gains) Losses (958,418) (691,307) (443,447) Insurance Adjustments: (2) (Gains) Losses from Investments (2)(3) 1,465,348 363,956 379,647 Non-Operating Changes in Policy Liabilities and Derivatives (2) 296,917 228,929 (584,495) Transaction-Related and Non-Operating Items (2) 20,615 7,347 15,215 Equity-Based and Other Compensation (2) 134,799 71,579 93,508 Amortization of Acquired Intangibles (2) 17,935 11,175 10,852 Total Segment Earnings $ 5,509,504 $ 4,155,344 $ 4,697,623 (1) Represents equity-based compensation expense in connection with the allocation of KKR Holdings Units, which were not dilutive to common stockholders of KKR & Co. Inc. (2) Amounts represent the portion allocable to KKR. (3) Includes gains and losses on funds withheld receivables and payables embedded derivatives. As of December 31, 2024 December 31, 2023 Total GAAP Assets $ 360,099,411 $ 317,294,194 Impact of Consolidation and Reclassifications (78,288,198) (73,748,156) Carry Pool Reclassifications (4,170,773) (2,664,694) Total Segment Assets $ 277,640,440 $ 240,881,344

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Share Repurchases	The following table presents the shares of KKR & Co. Inc. common stock that have been repurchased or equity awards retired under the repurchase program: For the Years Ended December 31, 2024 2023 2022 Shares of common stock repurchased — 5,395,162 5,191,174 Equity awards for common stock retired 1,170,857 764,999 1,308,501
Schedule of Noncontrolling Interests	The following table presents total noncontrolling interests: For the Years Ended December 31, 2024 2023 2022 Beginning of Period (as previously reported for the prior period) $ 34,904,791 $ 35,778,000 $ 40,474,565 Adoption of New Accounting Standard (See Note 2) — 632,858 104,961 Balance at the beginning of the period (as revised for the prior period) 34,904,791 36,410,858 40,579,526 Net Income (Loss) Attributable to Noncontrolling Interests 1,756,643 1,630,230 101,258 Other Comprehensive Income (Loss), net of tax 6,294 588,415 (3,919,807) Compensation Modification - Issuance of Holdings III Units (See Note 19) 53,623 — — Equity-Based Compensation (Non Cash Contribution) 432,299 323,577 364,225 2024 GA Acquisition - Cash consideration (See Note 1) (2,622,230) — — 2024 GA Acquisition - Issuance of Holdings III Units (See Note 1) 40,789 — — Exchange of KKR Holdings units to Common Stock — — (12,865) Holdings Merger (See Note 1) — — (7,197,950) Change in KKR & Co. Inc.'s Ownership - 2024 GA Acquisition 2,169,300 — — Change in KKR & Co. Inc.'s Ownership Interest (431,394) (156,867) (170,436) Capital Contributions 7,466,717 12,871,585 13,706,821 Capital Distributions (8,191,990) (8,301,516) (7,039,914) Changes in Consolidation 1,163,105 (8,461,491) — Balance at the end of the period $ 36,747,947 $ 34,904,791 $ 36,410,858

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTERESTS (Tables)	12 Months Ended
	Dec. 31, 2024
Noncontrolling Interest [Abstract]
Schedule of Rollforward of Redeemable Noncontrolling Interest	The following table presents the calculation of Redeemable Noncontrolling Interests: For the Years Ended December 31, 2024 2023 2022 Balance at the beginning of the period $ 615,427 $ 152,065 $ 82,491 Net Income (Loss) Attributable to Redeemable Noncontrolling Interests 73,149 (5,405) 2,792 Capital Contributions 922,127 499,433 69,322 Capital Distributions (23,763) (2,845) (2,540) Change in KKR & Co. Inc.'s Ownership Interest (1,763) — — Changes in Consolidation — (27,821) — Balance at the end of the period $ 1,585,177 $ 615,427 $ 152,065

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Purchase Agreements	As of December 31, 2024, purchase commitments under agreements with third-party administrators and other service providers were as follows: 2025 $ 35,659 2026 31,329 2027 21,830 2028 12,537 2029 11,160 Thereafter 54,913 Total $ 167,428
Schedule of Approximate Aggregate Future Lease Payments	As of December 31, 2024, the approximate aggregate future lease payments required on the asset management operating leases are as follows: 2025 $ 51,593 2026 80,012 2027 73,910 2028 70,413 2029 66,906 Thereafter 584,472 Total Lease Payments Required 927,306 Less: Imputed Interest 205,065 Total Operating Lease Liabilities $ 722,241 As of December 31, 2024, the approximate aggregate future lease payments required on the Global Atlantic operating leases are as follows: 2025 $ 18,699 2026 17,041 2027 17,056 2028 13,425 2029 12,091 Thereafter 289,301 Total Lease Payments Required 367,613 Less: Imputed Interest 182,066 Total Operating Lease Liabilities $ 185,547

CAPITAL & REGULATORY REQUIREM_2

CAPITAL & REGULATORY REQUIREMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
CAPITAL AND REGULATORY REQUIREMENTS
Schedule of Ordinary Dividend Capacity	Without prior regulatory approval, and subject to maintaining certain solvency requirements, our U.S. and Bermuda insurance subsidiaries, may declare ordinary dividends or distributions to their holding companies during 2025, as follows: Ordinary dividend and distribution capacity ($ in thousands) U.S. domiciled Commonwealth Annuity and Life Insurance Company None Bermuda domiciled Global Atlantic Re Limited $ 1,354,945

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Millions			12 Months Ended
	Jan. 02, 2024 USD ($)	Oct. 08, 2021 vote	Dec. 31, 2024
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of votes per common share (vote) | vote		1
Reorganization agreement, anniversary of death or permanent disability of co-founders		6 months
Global Atlantic
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Cash consideration paid by KKR	$ 2,600
Issuance of securities exchangeable for shares of KKR & Co. common stock	$ 41
KKR Group Partnership
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of economic interest held by parent entity			99.20%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value Measurements (Details)	12 Months Ended
	Dec. 31, 2024 methodology
Fair Value Measurements
Number of valuation methodologies used to determine fair value of investments (in methodologies)	2
Maximum
Fair Value Measurements
Weighting percentage of methodology used to determine fair value of investments (up to 100%)	100%
Minimum | Illiquidity Discount
Fair Value Measurements
Private equity, measurement input	0.05

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fixed Assets, Depreciation and Amortization (Details)	Dec. 31, 2024
Maximum | Owner Occupied Real Estate
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment	40 years
Maximum | Other Fixed Assets
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment	7 years
Minimum | Other Fixed Assets
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment	3 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Equity-based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
GA Equity Incentive Plan
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Tax benefit for equity based compensation	$ 126.7	$ 51.3	$ 65.4
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Vesting period (in years)	3 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Vesting period (in years)	5 years

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Tax benefit (expense) related to items of other comprehensive income	$ (30)	$ (339)	$ 1,688

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Management Fees (Details)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Fee Credits as a percentage of monitoring and transaction fees net of fund-related expenses, older funds	80%
Fee Credits as a percentage of monitoring and transaction fees net of fund-related expenses, newer funds	100%
Incentive fee, low end of range (as a percent)	5%
Incentive fee, high end of range (as a percent)	20%
Incentive fee, payment period	90 days

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Compensation and Benefits (Details)		12 Months Ended
	Jan. 02, 2024	Dec. 31, 2024	Dec. 31, 2023
Equity Based Payments
Carry pool percentage threshold	80%
Maximum
Equity Based Payments
Carry pool percentage threshold	80%	80%
All Other Funds, Option One
Equity Based Payments
Percent allocated to carry pool			40%
All Other Funds, Option Two
Equity Based Payments
Percent allocated to carry pool			43%
All Other Funds, Option Three
Equity Based Payments
Percent allocated to carry pool			65%
All Other Funds, Option Four
Equity Based Payments
Percent allocated to carry pool		80%

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recognition of Insurance Revenue and Related Benefits (Details)	12 Months Ended
	Dec. 31, 2024 counterparty
Concentration Risk [Line Items]
Concentration risk, revenues, number of reinsurance counterparties exceeding threshold	1
Geographic Concentration Risk | Revenue Benchmark | Americas
Concentration Risk [Line Items]
Concentration risk percentage	100%

REVENUES - ASSET MANAGEMENT A_3

REVENUES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS - Schedule of Asset Management and Strategic Holdings Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total Revenues	$ 21,878,698	$ 14,499,312	$ 5,704,180
Asset Management and Strategic Holdings
Disaggregation of Revenue [Line Items]
Fees and Other	3,653,962	2,963,869	2,821,627
Carried Interest	3,243,495	2,304,623	(2,068,662)
General Partner Capital Interest	314,789	538,814	(431,847)
Total Capital Allocation-Based Income (Loss)	3,558,284	2,843,437	(2,500,509)
Total Revenues	7,212,246	5,807,306	321,118
Management Fees | Asset Management and Strategic Holdings
Disaggregation of Revenue [Line Items]
Fees and Other	1,994,089	1,843,144	1,682,466
Fee Credits | Asset Management and Strategic Holdings
Disaggregation of Revenue [Line Items]
Fees and Other	(696,091)	(297,936)	(532,355)
Transaction Fees | Asset Management and Strategic Holdings
Disaggregation of Revenue [Line Items]
Fees and Other	1,857,317	1,075,204	1,316,637
Monitoring Fees | Asset Management and Strategic Holdings
Disaggregation of Revenue [Line Items]
Fees and Other	187,538	138,339	131,750
Incentive Fees | Asset Management and Strategic Holdings
Disaggregation of Revenue [Line Items]
Fees and Other	47,430	29,117	33,537
Expense Reimbursements | Asset Management and Strategic Holdings
Disaggregation of Revenue [Line Items]
Fees and Other	152,726	75,687	102,927
Consulting Fees | Asset Management and Strategic Holdings
Disaggregation of Revenue [Line Items]
Fees and Other	$ 110,953	$ 100,314	$ 86,665

REVENUES - ASSET MANAGEMENT - N

REVENUES - ASSET MANAGEMENT - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Asset Management and Strategic Holdings
Concentration Risk [Line Items]
Fees and other	$ 3,653,962	$ 2,963,869	$ 2,821,627
Capital allocation-based income (loss)	3,558,284	2,843,437	(2,500,509)
Total Consolidated Revenues | Private Equity Fund Concentration Risk | One Flagship Private Equity Fund
Concentration Risk [Line Items]
Fees and other	900,000	1,000,000
Total Consolidated Revenues | Private Equity Fund Concentration Risk | Three Flagship Private Equity Funds
Concentration Risk [Line Items]
Capital allocation-based income (loss)			(2,600,000)
Total Capital Allocation-Based Income (Loss) | Private Equity Fund Concentration Risk | One Flagship Private Equity Fund
Concentration Risk [Line Items]
Fees and other			200,000
Americas | Total Consolidated Revenues | Geographic Concentration Risk | Asset Management and Strategic Holdings
Concentration Risk [Line Items]
Fees and other	2,200,000	1,800,000	1,700,000
Capital allocation-based income (loss)	2,200,000	1,500,000	(1,600,000)
EMEA | Total Consolidated Revenues | Geographic Concentration Risk | Asset Management and Strategic Holdings
Concentration Risk [Line Items]
Fees and other	800,000	600,000	500,000
Capital allocation-based income (loss)	400,000	400,000	100,000
Asia Pacific | Total Consolidated Revenues | Geographic Concentration Risk | Asset Management and Strategic Holdings
Concentration Risk [Line Items]
Fees and other	700,000	600,000	600,000
Capital allocation-based income (loss)	$ 900,000	$ 900,000	$ (1,000,000)

NET GAINS (LOSSES) FROM INVES_3

NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES - ASSET MANAGEMENT AND STRATEGIC HOLDINGS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	$ 246,832	$ (776,473)	$ 1,298,506
Net Unrealized Gains (Losses)	3,196,021	3,801,856	(2,964,043)
Total	3,442,853	3,025,383	(1,665,537)
Private Equity
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	191,791	(300,439)	784,736
Net Unrealized Gains (Losses)	1,694,901	2,931,254	(1,541,242)
Total	1,886,692	2,630,815	(756,506)
Credit
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(509,690)	(322,067)	(168,025)
Net Unrealized Gains (Losses)	279,102	505,868	(470,254)
Total	(230,588)	183,801	(638,279)
Investments of Consolidated CFEs
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(61,580)	(104,196)	(69,234)
Net Unrealized Gains (Losses)	84,799	1,019,063	(1,437,482)
Total	23,219	914,867	(1,506,716)
Real Assets
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	287,041	(322,894)	323,901
Net Unrealized Gains (Losses)	(200,080)	16,107	220,207
Total	86,961	(306,787)	544,108
Equity Method - Other
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	409,833	327,549	73,317
Net Unrealized Gains (Losses)	606,258	586,125	(298,100)
Total	1,016,091	913,674	(224,783)
Other Investments
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(187,015)	(329,006)	29,490
Net Unrealized Gains (Losses)	109,411	198,889	(661,967)
Total	(77,604)	(130,117)	(632,477)
Foreign Exchange Forward Contracts and Options
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	171,330	155,784	389,371
Net Unrealized Gains (Losses)	549,055	(312,408)	(26,406)
Total	720,385	(156,624)	362,965
Securities Sold Short
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(31,912)	4,780	89,705
Net Unrealized Gains (Losses)	13,633	(12,872)	11,010
Total	(18,279)	(8,092)	100,715
Other Derivatives
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(40,055)	11,120	(32,614)
Net Unrealized Gains (Losses)	16,332	2,383	39,404
Total	(23,723)	13,503	6,790
Debt Obligations and Other
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	17,089	102,896	(122,141)
Net Unrealized Gains (Losses)	42,610	(1,132,553)	1,200,787
Total	$ 59,699	$ (1,029,657)	$ 1,078,646

NET INVESTMENT INCOME - INSUR_3

NET INVESTMENT INCOME - INSURANCE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Investment Income [Line Items]
Total Investment Income	$ 7,381,617	$ 6,113,774	$ 4,722,770
Less Investment Expenses:
Investment Management and Administration	498,733	352,042	364,609
Real Asset Depreciation and Maintenance	204,934	198,385	215,672
Interest Expense on Derivative Collateral and Repurchase Agreements	103,342	48,445	24,243
Net Investment Income	6,574,608	5,514,902	4,118,246
Fixed Maturity Securities
Net Investment Income [Line Items]
Gross investment income and gain (loss) on equity method investments	5,597,124	4,450,917	3,257,226
Mortgage and Other Loan Receivables
Net Investment Income [Line Items]
Gross investment income and gain (loss) on equity method investments	2,681,876	1,958,875	1,572,308
Real Assets
Net Investment Income [Line Items]
Gross investment income and gain (loss) on equity method investments	815,612	625,707	608,074
Short-Term and Other Investment Income
Net Investment Income [Line Items]
Gross investment income and gain (loss) on equity method investments	513,276	309,861	116,884
Income Assumed from Funds Withheld Receivable at Interest
Net Investment Income [Line Items]
Gross investment income and gain (loss) on equity method investments	81,335	94,658	91,608
Policy Loans
Net Investment Income [Line Items]
Gross investment income and gain (loss) on equity method investments	84,320	37,460	31,433
Income Ceded to Funds Withheld Payable at Interest
Net Investment Income [Line Items]
Gross investment income and gain (loss) on equity method investments	$ (2,391,926)	$ (1,363,704)	$ (954,763)

NET INVESTMENT-RELATED GAINS _3

NET INVESTMENT-RELATED GAINS (LOSSES) - INSURANCE - Net Investment Gains (Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Investment Income [Line Items]
Credit Loss Allowances on Mortgage and Other Loan Receivables	$ (305,770)	$ (210,704)	$ (369,296)
Insurance
Net Investment Income [Line Items]
Realized Gains (Losses) on Available-for-Sale Fixed Maturity Securities	(567,985)	(64,140)	(559,987)
Credit Loss Allowances on Available-for-Sale Securities	(115,367)	(168,899)	(57,411)
Credit Loss Allowances on Mortgage and Other Loan Receivables	(305,770)	(210,704)	(369,296)
Credit Loss Allowances on Unfunded Commitments	30,639	6,321	(34,112)
Impairment of Available-for-Sale Fixed Maturity Securities Due to Intent to Sell	0	(26,741)	0
Unrealized Gains (Losses) on Fixed Maturity Securities Classified as Trading	(735,209)	1,031,227	(2,603,874)
Unrealized Gains (Losses) on Other Investments Recognized under the Fair-Value Option and Equity Investments	9,560	(23,540)	(60,388)
Unrealized Gains (Losses) on Real Assets	(167,873)	(202,671)	77,755
Realized Gains (Losses) on Real Assets	11,418	71,158	(150,288)
Net Gains (Losses) on Derivative Instruments	419,927	(680,717)	2,346,747
Other Realized Gains (Losses)	(66,355)	17,210	57,466
Net Investment-Related Gains (Losses)	(1,423,086)	(235,262)	(1,318,490)
Insurance | Payable Portfolio Segment
Net Investment Income [Line Items]
Realized Gains (Losses) on Funds Withheld at Interest Payable/Receivable Portfolio	126,422	25,427	38,074
Insurance | Receivable Portfolio Segment
Net Investment Income [Line Items]
Realized Gains (Losses) on Funds Withheld at Interest Payable/Receivable Portfolio	$ (62,493)	$ (9,193)	$ (3,176)

NET INVESTMENT-RELATED GAINS _4

NET INVESTMENT-RELATED GAINS (LOSSES) - INSURANCE - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, as of Beginning of Period	$ 268,712	$ 128,332	$ 88,133
Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance	108,843	143,789	69,734
Initial Credit Loss Allowance Recognized on Purchased Credit Deteriorated ("PCD") Securities			707
Accretion of Initial Credit Loss Allowance on PCD Securities	611	1,191	1,847
Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance	(20,466)	(16,063)	(11,925)
Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance	6,524	25,110	(12,323)
Balances Charged Off	(88,902)	(13,647)	(7,841)
Balance, as of End of Period	275,322	268,712	128,332
Corporate
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, as of Beginning of Period	49,008	1,298	3,238
Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance	106,038	68,166	791
Initial Credit Loss Allowance Recognized on Purchased Credit Deteriorated ("PCD") Securities			0
Accretion of Initial Credit Loss Allowance on PCD Securities	0	0	0
Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance	(1,089)	(2,843)	0
Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance	22,184	(3,966)	5,110
Balances Charged Off	(76,525)	(13,647)	(7,841)
Balance, as of End of Period	99,616	49,008	1,298
Structured
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, as of Beginning of Period	219,704	127,034	84,895
Initial Credit Loss Allowance Recognized on Securities with No Previously Recognized Allowance	2,805	75,623	68,943
Initial Credit Loss Allowance Recognized on Purchased Credit Deteriorated ("PCD") Securities			707
Accretion of Initial Credit Loss Allowance on PCD Securities	611	1,191	1,847
Reductions due to Sales (or Maturities, Pay Downs or Prepayments) During the Period of Securities with a Previously Recognized Credit Loss Allowance	(19,377)	(13,220)	(11,925)
Net Additions / Reductions for Securities with a Previously Recognized Credit Loss Allowance	(15,660)	29,076	(17,433)
Balances Charged Off	(12,377)	0	0
Balance, as of End of Period	$ 175,706	$ 219,704	$ 127,034

NET INVESTMENT-RELATED GAINS _5

NET INVESTMENT-RELATED GAINS (LOSSES) - INSURANCE - Allowance for Credit Losses, Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, as of Beginning of Period	$ 602,443	$ 560,228	$ 374,077
Net Provision (Release)	305,770	210,704	369,296
Charge-offs	(322,578)	(190,257)	(183,145)
Recoveries of Amounts Previously Charged-off	28,773	21,768
Balance, as of End of Period	614,408	602,443	560,228
Commercial Mortgage Loans
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, as of Beginning of Period	319,631	227,315	65,970
Net Provision (Release)	164,254	113,932	161,345
Charge-offs	(163,478)	(21,616)	0
Recoveries of Amounts Previously Charged-off	5,650	0
Balance, as of End of Period	326,057	319,631	227,315
Residential Mortgage Loans
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, as of Beginning of Period	107,204	125,825	72,082
Net Provision (Release)	5,157	(10,445)	74,798
Charge-offs	(5,116)	(8,176)	(21,055)
Recoveries of Amounts Previously Charged-off	0	0
Balance, as of End of Period	107,245	107,204	125,825
Consumer and Other Loan Receivables
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, as of Beginning of Period	175,608	207,088	236,025
Net Provision (Release)	136,359	107,217	133,153
Charge-offs	(153,984)	(160,465)	(162,090)
Recoveries of Amounts Previously Charged-off	23,123	21,768	12,800
Balance, as of End of Period	$ 181,106	$ 175,608	$ 207,088

NET INVESTMENT-RELATED GAINS _6

NET INVESTMENT-RELATED GAINS (LOSSES) - INSURANCE - Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AFS Fixed Maturity Securities:
Proceeds from Voluntary Sales	$ 19,370,239	$ 6,687,271	$ 12,050,106
Gross Gains	112,264	62,452	21,567
Gross Losses	$ (643,899)	$ (120,799)	$ (569,706)

INVESTMENTS - Summary of Invest

INVESTMENTS - Summary of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Total Investments	$ 276,597,795	$ 240,005,124
Amortized cost of available for sale securities	85,612,856	78,723,857
Allowance for credit losses on available for sale securities	275,322	268,712	$ 128,332	$ 88,133
Asset Management and Strategic Holdings
Schedule of Investments [Line Items]
Total Investments	106,453,051	98,634,801
Insurance
Schedule of Investments [Line Items]
Total Investments	170,144,744	141,370,323
Amortized cost of available for sale securities	85,600,000	78,700,000
Allowance for credit losses on available for sale securities	275,300	268,700
Amortized cost, trading securities	23,800,000	20,500,000
Equity method investment, maximum exposure to loss	23,000	19,700
Private Equity | Asset Management and Strategic Holdings
Schedule of Investments [Line Items]
Total Investments	34,462,952	32,742,484
Credit | Asset Management and Strategic Holdings
Schedule of Investments [Line Items]
Total Investments	8,054,581	8,274,904
Investments of Consolidated CFEs | Asset Management and Strategic Holdings
Schedule of Investments [Line Items]
Total Investments	27,488,538	24,996,298
Real Assets | Asset Management and Strategic Holdings
Schedule of Investments [Line Items]
Total Investments	13,222,738	12,000,008
Real Assets | Insurance
Schedule of Investments [Line Items]
Total Investments	14,078,498	9,342,318
Accumulated depreciation	623,100	467,700
Equity method investment	1,000,000	104,700
Real Assets | Insurance | Investment, Fair Value Option
Schedule of Investments [Line Items]
Total Investments	476,300	175,300
Equity Method - Other | Asset Management and Strategic Holdings
Schedule of Investments [Line Items]
Total Investments	8,333,527	8,163,831
Equity Method - Capital Allocation-Based Income | Asset Management and Strategic Holdings
Schedule of Investments [Line Items]
Total Investments	9,798,370	7,877,904
Other Investments | Asset Management and Strategic Holdings
Schedule of Investments [Line Items]
Total Investments	5,092,344	4,579,372
Other Investments | Insurance
Schedule of Investments [Line Items]
Total Investments	1,475,156	360,745
Equity method investment	682,900	38,600
Fixed Maturity Securities, Available-for-sale, at Fair Value | Insurance
Schedule of Investments [Line Items]
Total Investments	76,259,956	69,414,188
Mortgage and Other Loan Receivables | Insurance
Schedule of Investments [Line Items]
Total Investments	52,751,077	39,177,927
Fixed Maturity Securities, Trading, at Fair Value | Insurance
Schedule of Investments [Line Items]
Total Investments	21,419,241	18,805,470
Policy Loans | Insurance
Schedule of Investments [Line Items]
Total Investments	1,622,958	1,556,030
Funds Withheld Receivable at Interest | Insurance
Schedule of Investments [Line Items]
Total Investments	$ 2,537,858	$ 2,713,645

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($)
Schedule of Investments [Line Items]
Purchase of assets with credit deterioration	$ 0	$ 0
Gross unrealized losses on AFS fixed maturity securities	$ 9,333,546,000	$ 9,407,982,000
Securities in unrealized loss position | security	5,966	5,886
Securities in unrealized loss position, with an allowance for credit loss | security	3,833
AFS fixed maturity securities in an unrealized loss position for 12 months or more, fair value	$ 2,200,000,000
AFS fixed maturity securities in an unrealized loss position for 12 months or more, gross unrealized losses	268,400,000
Repurchase agreements, notional value	$ 261,400,000	$ 1,400,000,000
Various Equity Method Investments
Schedule of Investments [Line Items]
Assumed ownership percentage	100%	100%	100%
Investment in FHLB
Schedule of Investments [Line Items]
Other investments	$ 117,800,000	$ 131,700,000
State And Governmental Authorities
Schedule of Investments [Line Items]
Other investments	141,100,000	148,500,000
Asset Pledged as Collateral
Schedule of Investments [Line Items]
Other investments	4,600,000,000	3,600,000,000
Collateral Pledged
Schedule of Investments [Line Items]
Equity method investment	834,400,000
Residential And Commercial Portfolio Segment
Schedule of Investments [Line Items]
Mortgage loans 90 days past due or in process of foreclosure	$ 406,900,000	$ 510,900,000
Residential
Schedule of Investments [Line Items]
Weighted average loan-to-value ratio	63%	63%
Commercial
Schedule of Investments [Line Items]
Commitment to lend additional funds	$ 42,100,000
Commercial | Extended Maturity And Interest Rate Reduction
Schedule of Investments [Line Items]
Financing receivable, modification in period, stated interest rate	4.90%	3.60%
Commercial | Maturity Extension
Schedule of Investments [Line Items]
Financing receivable, modification in period, maturity extension, weighted average term	2 years 10 months 24 days	2 years 6 months
Global Atlantic
Schedule of Investments [Line Items]
Purchase of assets with credit deterioration			$ 24,005,000
Below Investment Grade
Schedule of Investments [Line Items]
Gross unrealized losses on AFS fixed maturity securities	$ 557,400,000	$ 694,600,000
Gross unrealized losses on AFS fixed maturity securities, single largest loss	$ 54,400,000	$ 53,400,000
Investments | Investment Concentration Risk
Schedule of Investments [Line Items]
Threshold percentage of total investments (greater than)	5%	5%

INVESTMENTS - Equity Method Inv

INVESTMENTS - Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Total Assets	$ 360,099,411	$ 317,294,194
Total Liabilities	298,114,719	258,915,282
Total Equity	60,399,515	57,763,485	$ 55,218,625
Net Realized and Unrealized Gains (Losses) from Investments	246,832	(776,473)	1,298,506
Revenues	21,878,698	14,499,312	5,704,180
Asset Management and Strategic Holdings
Schedule of Equity Method Investments [Line Items]
Total Assets	122,517,378	113,567,367
Total Liabilities	57,906,939	53,143,384
Revenues	7,212,246	5,807,306	321,118
Insurance
Schedule of Equity Method Investments [Line Items]
Total Assets	237,582,033	203,726,827
Total Liabilities	240,207,780	205,771,898
Revenues	14,666,452	8,692,006	5,383,062
Equity Method Investment | Asset Management and Strategic Holdings
Schedule of Equity Method Investments [Line Items]
Total Assets	252,104,471	245,172,170
Total Liabilities	63,141,812	67,695,320
Total Equity	188,962,659	177,476,850
Equity Method Investment | Insurance
Schedule of Equity Method Investments [Line Items]
Total Assets	18,317,590	5,643,540
Total Liabilities	10,321,725	3,040,471
Total Equity	7,995,865	2,603,069
Revenues	2,555,196	416,360	1,365,222
Various Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Net Income (Loss)	24,364,289	14,992,674	9,062,345
Various Equity Method Investments | Asset Management and Strategic Holdings
Schedule of Equity Method Investments [Line Items]
Net Income (Loss)	24,419,394	15,058,370	8,405,352
Various Equity Method Investments | Insurance
Schedule of Equity Method Investments [Line Items]
Net Income (Loss)	(55,105)	(65,696)	656,993
Various Equity Method Investments | Equity Method Investment | Asset Management and Strategic Holdings
Schedule of Equity Method Investments [Line Items]
Investment Related Revenues	17,725,187	17,454,663	28,379,991
Other Revenues	1,300,377	854,595	826,557
Investment Related Expenses	13,254,876	18,623,867	4,297,342
Other Expenses	1,997,379	422,050	223,953
Net Realized and Unrealized Gains (Losses) from Investments	20,646,085	15,795,029	(16,279,901)
Various Equity Method Investments | Equity Method Investment | Insurance
Schedule of Equity Method Investments [Line Items]
Expenses	$ 2,610,301	$ 482,056	$ 708,229

INVESTMENTS - AFS Fixed Maturit

INVESTMENTS - AFS Fixed Maturity Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 85,612,856	$ 78,723,857
Allowance for Credit Losses	(275,322)	(268,712)	$ (128,332)	$ (88,133)
Gross Unrealized Gains	255,968	367,025
Gross Unrealized Losses	(9,333,546)	(9,407,982)
Fair Value	76,259,956	69,414,188
Allowance for credit losses at acquisition	(9,200)	(12,800)
U.S. Government and Agencies
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	2,576,106	1,209,507
Allowance for Credit Losses	0	0
Gross Unrealized Gains	227	62,514
Gross Unrealized Losses	(184,926)	(68,929)
Fair Value	2,391,407	1,203,092
U.S. State, Municipal and Political Subdivisions
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	4,774,108	5,562,826
Allowance for Credit Losses	0	0
Gross Unrealized Gains	5,290	29,699
Gross Unrealized Losses	(1,009,937)	(985,133)
Fair Value	3,769,461	4,607,392
Corporate
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	48,862,650	46,378,337
Allowance for Credit Losses	(99,616)	(49,008)	$ (1,298)	$ (3,238)
Gross Unrealized Gains	119,998	211,570
Gross Unrealized Losses	(6,943,765)	(6,592,143)
Fair Value	41,939,267	39,948,756
Residential Mortgage-backed Securities, or “RMBS”
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	10,964,553	8,734,629
Allowance for Credit Losses	(115,810)	(152,067)
Gross Unrealized Gains	54,319	38,206
Gross Unrealized Losses	(624,040)	(674,550)
Fair Value	10,279,022	7,946,218
Commercial Mortgage-backed Securities, or “CMBS”
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	8,387,194	7,491,743
Allowance for Credit Losses	(44,024)	(35,953)
Gross Unrealized Gains	28,702	4,195
Gross Unrealized Losses	(381,505)	(731,358)
Fair Value	7,990,367	6,728,627
Collateralized Bond Obligations, or “CBOs”
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	2,487,066	2,951,511
Allowance for Credit Losses	(1,190)	(1,214)
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(79,644)	(143,818)
Fair Value	2,406,232	2,806,479
CLOs
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	4,106,046	3,493,731
Allowance for Credit Losses	(6,620)	(19,077)
Gross Unrealized Gains	24,177	6,483
Gross Unrealized Losses	(22,265)	(52,365)
Fair Value	4,101,338	3,428,772
Asset-Backed Securities, or “ABSs”
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	3,455,133	2,901,573
Allowance for Credit Losses	(8,062)	(11,393)
Gross Unrealized Gains	23,255	14,358
Gross Unrealized Losses	(87,464)	(159,686)
Fair Value	$ 3,382,862	$ 2,744,852

INVESTMENTS - Maturity Distribu

INVESTMENTS - Maturity Distribution for AFS Fixed Maturity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Cost or Amortized Cost (Net of Allowance)
Due in One Year or Less	$ 1,260,728
Due After One Year Through Five Years	12,622,231
Due After Five Years Through Ten Years	9,428,803
Due After Ten Years	32,801,486
Subtotal	56,113,248
Cost or Amortized Cost (Net of Allowance)	85,337,534
Fair Value
Due in One Year or Less	1,254,003
Due After One Year Through Five Years	12,403,864
Due After Five Years Through Ten Years	9,080,920
Due After Ten Years	25,361,348
Subtotal	48,100,135
Fair Value	76,259,956	$ 69,414,188
Residential Mortgage-backed Securities, or “RMBS”
Cost or Amortized Cost (Net of Allowance)
Without single maturity date	10,848,743
Fair Value
Without single maturity date	10,279,022
Fair Value	10,279,022	7,946,218
Commercial Mortgage-backed Securities, or “CMBS”
Cost or Amortized Cost (Net of Allowance)
Without single maturity date	8,343,170
Fair Value
Without single maturity date	7,990,367
Fair Value	7,990,367	6,728,627
Collateralized Bond Obligations, or “CBOs”
Cost or Amortized Cost (Net of Allowance)
Without single maturity date	2,485,876
Fair Value
Without single maturity date	2,406,232
Fair Value	2,406,232	2,806,479
CLOs
Cost or Amortized Cost (Net of Allowance)
Without single maturity date	4,099,426
Fair Value
Without single maturity date	4,101,338
Fair Value	4,101,338	3,428,772
Asset-Backed Securities, or “ABSs”
Cost or Amortized Cost (Net of Allowance)
Without single maturity date	3,447,071
Fair Value
Without single maturity date	3,382,862
Fair Value	$ 3,382,862	$ 2,744,852

INVESTMENTS - Purchased Credit

INVESTMENTS - Purchased Credit Deteriorated Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Purchase Price of PCD Securities Acquired During the Current Period	$ 0	$ 0
Allowance for Credit Losses at Acquisition	$ 9,200,000	$ 12,800,000
Global Atlantic
Debt Securities, Available-for-sale [Line Items]
Purchase Price of PCD Securities Acquired During the Current Period			$ 24,005,000
Allowance for Credit Losses at Acquisition			707,000
Discount Attributable to Other Factors			1,710,000
Par Value			$ 26,422,000

INVESTMENTS - AFS in Continuous

INVESTMENTS - AFS in Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value
Less Than 12 months	$ 19,818,407	$ 7,072,867
12 months or More	33,744,850	47,749,955
Total	53,563,257	54,822,822
Unrealized Losses
Less Than 12 months	(647,265)	(283,509)
12 months or More	(8,686,281)	(9,124,473)
Total	(9,333,546)	(9,407,982)
U.S. Government and Agencies
Fair Value
Less Than 12 months	2,150,669	94,807
12 months or More	203,661	198,750
Total	2,354,330	293,557
Unrealized Losses
Less Than 12 months	(110,280)	(2,512)
12 months or More	(74,646)	(66,417)
Total	(184,926)	(68,929)
U.S. State, Municipal and Political Subdivisions
Fair Value
Less Than 12 months	251,191	112,468
12 months or More	3,305,469	3,829,447
Total	3,556,660	3,941,915
Unrealized Losses
Less Than 12 months	(4,816)	(4,140)
12 months or More	(1,005,121)	(980,993)
Total	(1,009,937)	(985,133)
Corporate
Fair Value
Less Than 12 months	12,959,540	4,360,234
12 months or More	18,491,535	27,108,292
Total	31,451,075	31,468,526
Unrealized Losses
Less Than 12 months	(457,706)	(189,026)
12 months or More	(6,486,059)	(6,403,117)
Total	(6,943,765)	(6,592,143)
Residential Mortgage-backed Securities, or “RMBS”
Fair Value
Less Than 12 months	2,436,204	1,371,230
12 months or More	3,998,635	4,354,902
Total	6,434,839	5,726,132
Unrealized Losses
Less Than 12 months	(62,488)	(66,550)
12 months or More	(561,552)	(608,000)
Total	(624,040)	(674,550)
Commercial Mortgage-backed Securities, or “CMBS”
Fair Value
Less Than 12 months	1,006,250	332,095
12 months or More	3,737,990	6,031,766
Total	4,744,240	6,363,861
Unrealized Losses
Less Than 12 months	(4,683)	(4,535)
12 months or More	(376,822)	(726,823)
Total	(381,505)	(731,358)
Collateralized Bond Obligations, or “CBOs”
Fair Value
Less Than 12 months	1,158	1,867
12 months or More	2,405,075	2,804,612
Total	2,406,233	2,806,479
Unrealized Losses
Less Than 12 months	(81)	(118)
12 months or More	(79,563)	(143,700)
Total	(79,644)	(143,818)
CLOs
Fair Value
Less Than 12 months	274,025	246,728
12 months or More	293,008	1,679,813
Total	567,033	1,926,541
Unrealized Losses
Less Than 12 months	(1,630)	(868)
12 months or More	(20,635)	(51,497)
Total	(22,265)	(52,365)
Asset-Backed Securities, or “ABSs”
Fair Value
Less Than 12 months	739,370	553,438
12 months or More	1,309,477	1,742,373
Total	2,048,847	2,295,811
Unrealized Losses
Less Than 12 months	(5,581)	(15,760)
12 months or More	(81,883)	(143,926)
Total	$ (87,464)	$ (159,686)

INVESTMENTS - Mortgage and Othe

INVESTMENTS - Mortgage and Other Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	$ 53,365,485	$ 39,780,370
Allowance for Credit Losses	(614,408)	(602,443)	$ (560,228)	$ (374,077)
Total Mortgage and Other Loan Receivables, Net of Allowance for Credit Losses	52,751,077	39,177,927
Commercial Loan, Residential Loan, Consumer Loan, and Other Loan, Fair Value Option
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	1,600,000	697,400
Total Mortgage and Other Loan Receivables, Net of Allowance for Credit Losses	1,800,000	785,200
Purchase-Credit Deteriorated Mortgage and Other Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for Credit Losses	(72,200)	(91,700)
Commercial Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	25,263,148	21,861,245
Allowance for Credit Losses	(326,057)	(319,631)	(227,315)	(65,970)
Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	21,581,616	12,722,778
Allowance for Credit Losses	(107,245)	(107,204)	$ (125,825)	$ (72,082)
Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	4,848,208	4,424,882
Other Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	1,672,513	771,465
Other Loan Receivables | Renewable Energy Development Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	547,200
Other Loan Receivables | Agricultural Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	503,000
Other Loan Receivables | Aircraft
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	271,200	315,400
Other Loan Receivables | Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Mortgage and Other Loan Receivables	$ 200,000	$ 200,000

INVESTMENTS - Maturity of Resid

INVESTMENTS - Maturity of Residential and Commercial Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 53,365,485	$ 39,780,370
Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
2025	4,760,864
2026	7,285,569
2027	7,924,850
2028	1,705,955
2029	1,350,914
Thereafter	23,816,612
Total	46,844,764	34,584,023
Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
2025	4,935
2026	581,437
2027	602,887
2028	126,129
2029	11,336
Thereafter	20,254,892
Total	21,581,616	12,722,778
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
2025	4,755,929
2026	6,704,132
2027	7,321,963
2028	1,579,826
2029	1,339,578
Thereafter	3,561,720
Total	$ 25,263,148	$ 21,861,245

INVESTMENTS - Mortgage Loan Por

INVESTMENTS - Mortgage Loan Portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 53,365,485	$ 39,780,370
Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 46,844,764	$ 34,584,023
Financing receivable, before allowance for credit loss, to total, percent	100%	100%
Residential | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 21,581,616	$ 12,722,778
Financing receivable, before allowance for credit loss, to total, percent	46.10%	36.80%
Multi-family | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 12,793,478	$ 11,495,638
Financing receivable, before allowance for credit loss, to total, percent	27.30%	33.20%
Industrial | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 6,357,311	$ 4,415,819
Financing receivable, before allowance for credit loss, to total, percent	13.60%	12.80%
Office Building | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 4,468,303	$ 4,586,277
Financing receivable, before allowance for credit loss, to total, percent	9.50%	13.30%
Other Property Types | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 804,743	$ 578,799
Financing receivable, before allowance for credit loss, to total, percent	1.70%	1.70%
Retail | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 504,812	$ 493,596
Financing receivable, before allowance for credit loss, to total, percent	1.10%	1.40%
Warehouse | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 334,501	$ 291,116
Financing receivable, before allowance for credit loss, to total, percent	0.70%	0.80%
South Atlantic | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 13,215,065	$ 9,653,955
Financing receivable, before allowance for credit loss, to total, percent	28.20%	27.90%
Pacific | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 11,739,093	$ 8,649,256
Financing receivable, before allowance for credit loss, to total, percent	25.10%	25%
Middle Atlantic | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 5,841,960	$ 4,436,129
Financing receivable, before allowance for credit loss, to total, percent	12.50%	12.80%
West South Central | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 5,395,952	$ 4,202,501
Financing receivable, before allowance for credit loss, to total, percent	11.50%	12.20%
Mountain | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 4,001,411	$ 3,262,801
Financing receivable, before allowance for credit loss, to total, percent	8.50%	9.40%
New England | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 1,679,335	$ 1,470,741
Financing receivable, before allowance for credit loss, to total, percent	3.60%	4.30%
East North Central | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 1,505,688	$ 1,166,460
Financing receivable, before allowance for credit loss, to total, percent	3.20%	3.40%
East South Central | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 986,070	$ 731,053
Financing receivable, before allowance for credit loss, to total, percent	2.10%	2.10%
West North Central | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 455,503	$ 358,609
Financing receivable, before allowance for credit loss, to total, percent	1%	1%
Foreign and Other Regions | Residential And Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 2,024,687	$ 652,518
Financing receivable, before allowance for credit loss, to total, percent	4.30%	1.90%

INVESTMENTS - Receivables By Cr

INVESTMENTS - Receivables By Credit Quality Indicator (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gross Charge-offs
Total	$ (322,578)	$ (190,257)	$ (183,145)
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	53,365,485	39,780,370
Residential, Commercial, And Consumer Portfolio Segment
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	13,596,775	6,564,559
Year two	8,151,138	8,817,810
Year three	8,772,623	13,237,124
Year four	12,074,182	2,750,871
Year five	2,343,028	2,255,351
Prior	6,755,226	5,383,190
Total	51,692,972	39,008,905
Commercial Mortgage Loans
Gross Charge-offs
Year one	0	0
Year two	0	0
Year three	(20,387)	0
Year four	(80,798)	0
Year five	(10,695)	(14,000)
Prior	(51,598)	(7,616)
Total	(163,478)	(21,616)	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	4,626,771	3,600,652
Year two	3,575,323	6,278,419
Year three	6,012,774	6,815,362
Year four	6,511,726	661,316
Year five	559,931	1,395,717
Prior	3,976,623	3,109,779
Total	25,263,148	21,861,245
Residential Mortgage Loans
Gross Charge-offs
Year one	(15)	(6)
Year two	(7)	(1,228)
Year three	(1,308)	(2,244)
Year four	(2,565)	(913)
Year five	(524)	(1,412)
Prior	(697)	(2,373)
Total	(5,116)	(8,176)	$ (21,055)
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	8,375,644	2,849,017
Year two	4,114,970	2,031,510
Year three	2,059,689	4,638,183
Year four	4,126,135	1,375,239
Year five	1,207,987	237,681
Prior	1,697,191	1,591,148
Total	21,581,616	12,722,778
Consumer Loans
Gross Charge-offs
Year one	(1,345)	(185)
Year two	(6,896)	(18,117)
Year three	(22,614)	(83,147)
Year four	(73,814)	(23,273)
Year five	(19,872)	(15,740)
Prior	(29,251)	(19,783)
Total	(153,792)	(160,245)
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	594,360	114,890
Year two	460,845	507,881
Year three	700,160	1,783,579
Year four	1,436,321	714,316
Year five	575,110	621,953
Prior	1,081,412	682,263
Total	4,848,208	4,424,882
Current | Commercial Mortgage Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	4,626,771	3,600,652
Year two	3,575,323	6,278,419
Year three	6,012,774	6,633,293
Year four	6,414,939	624,457
Year five	559,931	1,395,717
Prior	3,899,288	2,969,381
Total	25,089,026	21,501,919
Current | Residential Mortgage Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	8,277,782	2,794,600
Year two	3,958,884	1,981,373
Year three	1,948,869	4,518,357
Year four	4,010,265	1,358,200
Year five	1,192,287	221,566
Prior	1,470,411	1,365,231
Total	20,858,498	12,239,327
Current | Consumer Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	592,705	109,393
Year two	454,890	497,113
Year three	691,198	1,726,280
Year four	1,394,197	701,655
Year five	566,071	610,988
Prior	1,050,090	656,270
Total	4,749,151	4,301,699
30 to 59 Days Past Due | Commercial Mortgage Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	0	0
Total	0	0
30 to 59 Days Past Due | Residential Mortgage Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	67,924	43,432
Year two	89,078	22,291
Year three	64,113	37,082
Year four	39,326	3,554
Year five	6,140	5,461
Prior	90,891	84,079
Total	357,472	195,899
30 to 59 Days Past Due | Consumer Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	860	1,707
Year two	2,444	4,229
Year three	3,433	28,966
Year four	22,069	5,082
Year five	4,090	4,497
Prior	14,816	12,686
Total	47,712	57,167
60 to 89 Days Past Due | Commercial Mortgage Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	42,335	79,635
Total	42,335	79,635
60 to 89 Days Past Due | Residential Mortgage Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	20,388	8,467
Year two	24,336	8,520
Year three	10,303	9,991
Year four	11,554	1,437
Year five	325	1,389
Prior	23,597	26,565
Total	90,503	56,369
60 to 89 Days Past Due | Consumer Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	517	1,193
Year two	1,194	2,548
Year three	2,178	14,872
Year four	10,399	3,298
Year five	2,299	2,561
Prior	7,874	6,756
Total	24,461	31,228
90 days or More Past Due or in Process of Foreclosure | Commercial Mortgage Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	0
Year two	0	0
Year three	0	182,069
Year four	96,787	36,859
Year five	0	0
Prior	35,000	60,763
Total	131,787	279,691
90 days or More Past Due or in Process of Foreclosure | Residential Mortgage Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	9,550	2,518
Year two	42,672	19,326
Year three	36,404	72,753
Year four	64,990	12,048
Year five	9,235	9,265
Prior	112,292	115,273
Total	275,143	231,183
90 days or More Past Due or in Process of Foreclosure | Consumer Loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	278	2,597
Year two	2,317	3,991
Year three	3,351	13,461
Year four	9,656	4,281
Year five	2,650	3,907
Prior	8,632	6,551
Total	$ 26,884	$ 34,788

INVESTMENTS - Loan-To-Value (De

INVESTMENTS - Loan-To-Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 53,365,485	$ 39,780,370
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	4,626,771	3,600,652
Year two	3,575,323	6,278,419
Year three	6,012,774	6,815,362
Year four	6,511,726	661,316
Year five	559,931	1,395,717
Year six	1,239,106	1,049,249
Prior	2,737,517	2,060,530
Total	25,263,148	21,861,245
Carrying Value Loan-to-value 70% and Less | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	4,487,814	3,600,652
Year two	3,575,323	5,912,623
Year three	5,646,922	5,110,011
Year four	4,931,730	496,085
Year five	433,377	1,257,983
Year six	1,145,297	881,620
Prior	2,538,853	1,991,780
Total	22,759,316	19,250,754
Carrying Value Loan-to-value 71% - 90% | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	138,957	0
Year two	0	365,796
Year three	365,852	1,483,763
Year four	1,429,694	93,210
Year five	91,524	93,661
Year six	54,501	52,640
Prior	53,510	0
Total	2,134,038	2,089,070
Carrying Value Loan-to-value Over 90% | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0	0
Year two	0	0
Year three	0	221,588
Year four	150,302	72,021
Year five	35,030	44,073
Year six	39,308	114,989
Prior	145,154	68,750
Total	$ 369,794	$ 521,421

INVESTMENTS - Loan Modification

INVESTMENTS - Loan Modifications (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	$ 491,217	$ 592,004
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	466,458
30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	14,386
60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	5,445
90 days or More Past Due or in Process of Foreclosure
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	4,928
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	$ 387,903	$ 478,836
Percentage of Total Carrying Value Outstanding	1.54%	2.19%
Commercial | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	$ 387,903
Commercial | 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	0
Commercial | 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	0
Commercial | 90 days or More Past Due or in Process of Foreclosure
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	0
Residential
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	$ 18,790	$ 35,852
Percentage of Total Carrying Value Outstanding	0.09%	0.28%
Residential | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	$ 15,461
Residential | 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	1,519
Residential | 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	158
Residential | 90 days or More Past Due or in Process of Foreclosure
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	1,652
Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	$ 84,524	$ 77,316
Percentage of Total Carrying Value Outstanding	1.74%	1.75%
Consumer Loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	$ 63,094
Consumer Loans | 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	12,867
Consumer Loans | 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	5,287
Consumer Loans | 90 days or More Past Due or in Process of Foreclosure
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	3,276
Deferral of Amounts Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	7,358	$ 7,886
Deferral of Amounts Due | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	0	0
Deferral of Amounts Due | Residential
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	4,563	1,371
Deferral of Amounts Due | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	2,795	6,515
Interest Rate Relief
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	901	4,974
Interest Rate Relief | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	0	0
Interest Rate Relief | Residential
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	0	1,206
Interest Rate Relief | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	901	3,768
Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	29,865	73,698
Maturity Extension | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	0	0
Maturity Extension | Residential
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	0	25,130
Maturity Extension | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	29,865	48,568
Combination
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	453,093	505,446
Combination | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	387,903	478,836
Combination | Residential
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	14,227	8,145
Combination | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying value of loans to borrowers experiencing financial difficulty	$ 50,963	$ 18,465

INVESTMENTS - Repurchase Agreem

INVESTMENTS - Repurchase Agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Total	$ 271,127	$ 1,413,068
AFS Corporate Securities
Schedule of Investments [Line Items]
Total		1,373,779
Residential Mortgage Loans
Schedule of Investments [Line Items]
Total	271,127	39,289
Overnight
Schedule of Investments [Line Items]
Total	0	0
Overnight | AFS Corporate Securities
Schedule of Investments [Line Items]
Total		0
Overnight | Residential Mortgage Loans
Schedule of Investments [Line Items]
Total	0	0
Less than 30 Days
Schedule of Investments [Line Items]
Total	4,266	39,289
Less than 30 Days | AFS Corporate Securities
Schedule of Investments [Line Items]
Total		0
Less than 30 Days | Residential Mortgage Loans
Schedule of Investments [Line Items]
Total	4,266	39,289
30 - 90 Days
Schedule of Investments [Line Items]
Total	71,170	524,411
30 - 90 Days | AFS Corporate Securities
Schedule of Investments [Line Items]
Total		524,411
30 - 90 Days | Residential Mortgage Loans
Schedule of Investments [Line Items]
Total	71,170	0
Greater than 90 Days
Schedule of Investments [Line Items]
Total	195,691	849,368
Greater than 90 Days | AFS Corporate Securities
Schedule of Investments [Line Items]
Total		849,368
Greater than 90 Days | Residential Mortgage Loans
Schedule of Investments [Line Items]
Total	$ 195,691	$ 0

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Restricted cash held with open derivative transactions with exchange brokers	$ 135.7	$ 133
Gain (loss) on net investment hedges	(25.3)
Fixed Maturity Securities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortized cost	2,100	2,300
Bond Forward
Derivative Instruments and Hedging Activities Disclosures [Line Items]
AOCI gain (loss) on cash flow hedges	(249.7)	$ (126.9)
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
AOCI gain (loss) on cash flow hedges	$ (60.8)

DERIVATIVES - Derivative Assets

DERIVATIVES - Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	$ 107,251,393	$ 84,622,876
Derivative Assets
Fair Value Included Within Total Assets and Liabilities	581,308	315,107
Derivative Liabilities
Fair Value Included Within Total Assets and Liabilities	520,526	590,187
Asset Management and Strategic Holdings
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	19,908,493	16,146,067
Derivative Assets
Gross Amount Recognized	519,957	269,413
Derivative Liabilities
Gross Amount Recognized	131,339	443,990
Asset Management and Strategic Holdings | Foreign Currency Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	19,452,993	15,771,463
Derivative Assets
Gross Amount Recognized	511,513	264,621
Derivative Liabilities
Gross Amount Recognized	131,339	441,608
Asset Management and Strategic Holdings | Other Derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	455,500	374,604
Derivative Assets
Gross Amount Recognized	8,444	4,792
Derivative Liabilities
Gross Amount Recognized	0	2,382
Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	87,342,900	68,476,809
Derivative Assets
Gross Amount Recognized	2,346,562	1,855,023
Counterparty Netting	(2,285,211)	(1,809,329)
Net Amounts Presented in the Statements of Financial Condition	61,351	45,694
Derivative Liabilities
Gross Amount Recognized	1,299,370	1,057,277
Counterparty Netting	(910,183)	(911,080)
Net Amounts Presented in the Statements of Financial Condition	389,187	146,197
Insurance | Assets
Derivative Liabilities
Fair value of embedded derivatives, net	125,900	88,700
Insurance | Liability
Derivative Liabilities
Fair value of embedded derivatives, net	3,200,000	1,600,000
Insurance | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	18,031,835	9,622,835
Derivative Assets
Gross Amount Recognized	108,352	24,278
Derivative Liabilities
Gross Amount Recognized	539,996	445,690
Insurance | Derivatives Not Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	69,311,065	58,853,974
Derivative Assets
Gross Amount Recognized	2,238,210	1,830,745
Counterparty Netting	(648,549)	(694,250)
Cash Collateral	(1,636,662)	(1,115,079)
Derivative Liabilities
Gross Amount Recognized	759,374	611,587
Counterparty Netting	(648,549)	(694,250)
Cash Collateral	(261,634)	(216,830)
Insurance | Foreign Currency Contracts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	2,541,093	2,302,335
Derivative Assets
Gross Amount Recognized	66,774	24,278
Derivative Liabilities
Gross Amount Recognized	28,878	73,478
Insurance | Foreign Currency Contracts | Derivatives Not Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	2,887,035	1,331,345
Derivative Assets
Gross Amount Recognized	108,929	65,803
Derivative Liabilities
Gross Amount Recognized	54,679	56,616
Insurance | Interest Rate Contracts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	15,490,742	7,320,500
Derivative Assets
Gross Amount Recognized	41,578	0
Derivative Liabilities
Gross Amount Recognized	511,118	372,212
Insurance | Interest Rate Contracts | Derivatives Not Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	29,211,430	22,259,423
Derivative Assets
Gross Amount Recognized	206,222	284,067
Derivative Liabilities
Gross Amount Recognized	561,452	306,244
Insurance | Equity Market Contracts | Derivatives Not Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	37,151,092	35,203,206
Derivative Assets
Gross Amount Recognized	1,921,164	1,480,875
Derivative Liabilities
Gross Amount Recognized	143,049	248,127
Insurance | Other Contracts | Derivatives Not Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value	61,508	60,000
Derivative Assets
Gross Amount Recognized	1,895	0
Derivative Liabilities
Gross Amount Recognized	$ 194	$ 600

DERIVATIVES - Carrying Value of

DERIVATIVES - Carrying Value of Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value hedge adjustments on discontinued hedges	$ 193,300	$ 27,800
Debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying Amount of Hedged Liabilities	2,279,261	1,608,294
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Liabilities	(233,202)	(165,817)
Policy Liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying Amount of Hedged Liabilities	4,453,766	4,380,048
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Liabilities	$ (204,435)	$ (255,308)

DERIVATIVES - Financial Stateme

DERIVATIVES - Financial Statement Classification (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on net investment hedges	$ (25,300)
Derivatives Not Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
AOCI (loss) gain on cash flow hedges	(219,947)	$ 42,565	$ (176,569)
Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)	419,927	(680,717)	2,346,747
Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)	397,482	(700,888)	2,327,818
Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)	(104)	(1,381)	0
Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
AOCI impact of fair value hedges	(10,977)	9,119	(6,784)
AOCI impact of total gains (losses) on fair value hedges, net of hedged items	(10,977)	9,119	(6,784)
Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on derivatives designated as hedge instruments	119,618	(88,384)	64,945
Gains (losses) on hedged items	(117,318)	80,210	(61,785)
Amortization for gains (losses) excluded from assessment of effectiveness	20,145	28,345	14,737
Total Gains (Losses) on Fair Value Hedges, Net of Hedged Items	22,445	20,171	17,897
Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on derivatives designated as hedge instruments	4,551	0	0
Total Gains (Losses) on Fair Value Hedges, Net of Hedged Items	4,551	0	0
Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Policy Benefits and Claims
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on derivatives designated as hedge instruments	(108,622)	(53,870)	(382,376)
Gains (losses) on hedged items	108,622	53,870	382,376
Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments: | Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on derivatives designated as hedge instruments	(134,580)	(20,410)	(177,855)
Gains (losses) on hedged items	134,580	20,410	177,855
Cash Flow Hedges | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
AOCI (loss) gain on cash flow hedges	(183,626)	33,446	(169,785)
Cash Flow Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cumulative loss on the settlement bond forward derivative hedge instrument	0	0	1,032
Cash Flow Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cumulative loss on the settlement bond forward derivative hedge instrument	(6,043)	(1,381)	0
Net Investment Hedges | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
AOCI (loss) gain on cash flow hedges	(25,344)
Net Investment Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on net investment hedges	0
Net Investment Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on net investment hedges	1,388
Interest Rate Contracts | Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)	(569,315)
Interest Rate Contracts | Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Policy Benefits and Claims
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on derivatives designated as hedge instruments	(108,622)	(53,870)	(382,376)
Gains (losses) on hedged items	108,622	53,870	382,376
Interest Rate Contracts | Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments: | Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on derivatives designated as hedge instruments	(134,580)	(20,410)	(177,855)
Gains (losses) on hedged items	134,580	20,410	177,855
Interest Rate Contracts | Cash Flow Hedges | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
AOCI (loss) gain on cash flow hedges	(183,626)	33,446	(169,785)
Interest Rate Contracts | Cash Flow Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cumulative loss on the settlement bond forward derivative hedge instrument	0	0	1,032
Interest Rate Contracts | Cash Flow Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cumulative loss on the settlement bond forward derivative hedge instrument	(6,043)	(1,381)	0
Foreign Exchange Contracts and Options | Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
AOCI impact of fair value hedges	(10,977)	9,119	(6,784)
Foreign Exchange Contracts and Options | Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on derivatives designated as hedge instruments	119,618	(88,384)	64,945
Gains (losses) on hedged items	(117,318)	80,210	(61,785)
Amortization for gains (losses) excluded from assessment of effectiveness	20,145	28,345	14,737
Foreign Exchange Contracts and Options | Fair Value Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on derivatives designated as hedge instruments	4,551	0	0
Gain (Loss) On Derivatives | Net Investment Hedges | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
AOCI (loss) gain on cash flow hedges	(25,344)
Gain (Loss) On Derivatives | Net Investment Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on net investment hedges	0
Gain (Loss) On Derivatives | Net Investment Hedges | Derivatives Designated as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) on net investment hedges	1,388
Embedded Derivatives - Funds Withheld Receivable | Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)	37,226	75,876	(29,390)
Embedded Derivatives - Funds Withheld Payable | Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)	350,241	(1,040,463)	3,448,710
Equity Index Options | Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)	567,543	482,121	(895,602)
Equity Future Contracts | Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)	(87,484)	(116,766)	167,924
Foreign Exchange and Other Derivative Contracts | Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)	$ 99,271
Other | Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)		(280)	(29,779)
Interest Rate and Foreign Exchange Contracts | Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)		$ (101,376)	(333,937)
Credit Risk Contracts | Derivatives Not Designated as Hedge Accounting Instruments: | Net Investment-Related Gains (Losses) | Insurance
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gains (losses)			$ (108)

DERIVATIVES - Offsetting Assets

DERIVATIVES - Offsetting Assets and Liabilities (Details) - Insurance - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivative Assets (Excluding Embedded Derivatives)
Gross Amount Recognized	$ 2,346,562	$ 1,855,023
Gross Amounts Offset in the Statements of Financial Position	(2,285,211)	(1,809,329)
Net Amounts Presented in the Statements of Financial Condition	61,351	45,694
Collateral (Received) / Pledged	(157,782)	(45,095)
Net Amount after Collateral	(96,431)	599
Derivative Liabilities (Excluding Embedded Derivatives)
Gross Amount Recognized	1,299,370	1,057,277
Gross Amounts Offset in the Statements of Financial Position	(910,183)	(911,080)
Net Amounts Presented in the Statements of Financial Condition	389,187	146,197
Collateral (Received) / Pledged	504,665	167,973
Net Amount after Collateral	$ (115,478)	$ (21,776)

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets, at fair value:
AFS Fixed Maturity Securities	$ 76,259,956	$ 69,414,188
Separate Account Assets	3,981,060	4,107,000
Unfunded commitments	11,000,000
Liabilities, at fair value
Embedded Derivative	6,000,000	4,000,000
Market Risk Benefit Liability	1,002,236	1,120,968
U.S. Government and Agencies
Assets, at fair value:
AFS Fixed Maturity Securities	2,391,407	1,203,092
U.S. State, Municipal and Political Subdivisions
Assets, at fair value:
AFS Fixed Maturity Securities	3,769,461	4,607,392
Corporate
Assets, at fair value:
AFS Fixed Maturity Securities	41,939,267	39,948,756
Asset Management and Strategic Holdings
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	2,382
Insurance
Assets, at fair value:
Reinsurance Recoverable	45,270,625	36,617,344
Counterparty Netting and Cash Collateral	(2,285,211)	(1,809,329)
Separate Account Assets	3,981,060	4,107,000
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	389,187	146,197
Funds Withheld Payable at Interest	1,159,146	1,423,242
Market Risk Benefit Liability	1,002,236	1,120,968
Level III | Asset Management and Strategic Holdings
Liabilities, at fair value
Unfunded Revolver Commitments	96,848
Level III | Insurance
Assets, at fair value:
Mortgage and Other Loan Receivables	1,611,109
Reinsurance Recoverable	940,731
Liabilities, at fair value
Policy Liabilities (Including Market Risk Benefits)	1,279,794
Closed Block Policy Liabilities	988,320
Level III | Insurance | Interest Sensitive Life
Liabilities, at fair value
Embedded Derivative	491,818
Level III | Insurance | Fixed-Indexed Annuity
Liabilities, at fair value
Embedded Derivative	5,481,063
Level III | Insurance | Corporate
Assets, at fair value:
Trading Fixed Maturity Securities	10,676,454
Level III | Insurance | Structured Securities
Assets, at fair value:
Trading Fixed Maturity Securities	3,067,847
Fair Value Measured on Recurring Basis
Assets, at fair value:
Total Financial Assets	203,774,472	184,176,005
Liabilities, at fair value
Total Liabilities at Fair Value	33,320,802	30,152,304
Fair Value Measured on Recurring Basis | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	90,153,687	84,876,654
Total Financial Assets	90,673,644	85,146,067
Liabilities, at fair value
Securities Sold Short	109,168	149,136
Unfunded Revolver Commitments	96,848	94,683
Total Liabilities at Fair Value	27,488,164	25,964,213
Fair Value Measured on Recurring Basis | Asset Management and Strategic Holdings | Debt Obligations of Consolidated CFEs
Liabilities, at fair value
Debt Obligations of Consolidated CFEs	27,150,809	25,276,404
Fair Value Measured on Recurring Basis | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	61,351	45,694
Counterparty Netting and Cash Collateral	(2,285,211)	(1,809,329)
AFS Fixed Maturity Securities	76,259,956	69,414,188
Trading Fixed Maturity Securities	21,419,241	18,805,470
Mortgage and Other Loan Receivables	1,611,109	697,402
Other Investments	580,354	130,223
Funds Withheld Receivable at Interest	125,887	88,661
Reinsurance Recoverable	940,731	926,035
Separate Account Assets	3,981,060	4,107,000
Total Financial Assets	113,100,828	99,029,938
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	389,187	146,197
Policy Liabilities (Including Market Risk Benefits)	1,279,794	1,474,970
Closed Block Policy Liabilities	988,320	968,554
Funds Withheld Payable at Interest	(2,797,544)	(2,447,303)
Cash Collateral	(910,183)	(911,080)
Total Liabilities at Fair Value	5,832,638	4,188,091
Fair Value Measured on Recurring Basis | Insurance | Interest Sensitive Life
Liabilities, at fair value
Embedded Derivative	491,818	458,302
Fair Value Measured on Recurring Basis | Insurance | Fixed-Indexed Annuity
Liabilities, at fair value
Embedded Derivative	5,481,063	3,587,371
Fair Value Measured on Recurring Basis | Insurance | U.S. Government and Agencies
Assets, at fair value:
AFS Fixed Maturity Securities	2,391,407	1,203,092
Trading Fixed Maturity Securities	2,425,469	2,518,113
Fair Value Measured on Recurring Basis | Insurance | U.S. State, Municipal and Political Subdivisions
Assets, at fair value:
AFS Fixed Maturity Securities	3,769,461	4,607,392
Trading Fixed Maturity Securities	380,175	1,223,946
Fair Value Measured on Recurring Basis | Insurance | Corporate
Assets, at fair value:
AFS Fixed Maturity Securities	41,939,267	39,948,756
Trading Fixed Maturity Securities	11,454,892	10,472,832
Fair Value Measured on Recurring Basis | Insurance | Structured Securities
Assets, at fair value:
AFS Fixed Maturity Securities	28,159,821	23,654,948
Trading Fixed Maturity Securities	7,158,705	4,590,579
Fair Value Measured on Recurring Basis | Foreign Exchange Contracts and Options | Asset Management and Strategic Holdings
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	511,513	264,621
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	131,339	441,608
Fair Value Measured on Recurring Basis | Other Derivatives | Asset Management and Strategic Holdings
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	8,444	4,792
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	2,382
Fair Value Measured on Recurring Basis | Equity Market Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	1,921,164	1,480,875
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	143,049	248,127
Fair Value Measured on Recurring Basis | Interest Rate Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	247,800	284,067
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	1,072,570	678,456
Fair Value Measured on Recurring Basis | Foreign Currency Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	175,703	90,081
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	83,557	130,094
Fair Value Measured on Recurring Basis | Other Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	1,895
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	194	600
Fair Value Measured on Recurring Basis | Private Equity | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	34,462,952	32,742,484
Fair Value Measured on Recurring Basis | Credit | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	8,054,581	8,274,904
Fair Value Measured on Recurring Basis | Investments of Consolidated CFEs | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	27,488,538	24,996,298
Fair Value Measured on Recurring Basis | Real Assets | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	13,222,738	12,000,008
Fair Value Measured on Recurring Basis | Real Assets | Insurance
Assets, at fair value:
Total Investments	8,121,139	4,815,265
Unfunded commitments	1,300
Fair Value Measured on Recurring Basis | Equity Method - Other | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	1,832,534	2,283,588
Fair Value Measured on Recurring Basis | Other Investments | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	5,092,344	4,579,372
Fair Value Measured on Recurring Basis | Other Investments | Insurance
Assets, at fair value:
Unfunded commitments	1,500
Fair Value Measured on Recurring Basis | Level I
Assets, at fair value:
Total Financial Assets	5,788,526	10,903,084
Liabilities, at fair value
Total Liabilities at Fair Value	109,606	150,776
Fair Value Measured on Recurring Basis | Level I | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	1,594,827	3,357,633
Total Financial Assets	1,594,869	3,357,633
Liabilities, at fair value
Securities Sold Short	109,168	149,136
Unfunded Revolver Commitments	0	0
Total Liabilities at Fair Value	109,168	149,279
Fair Value Measured on Recurring Basis | Level I | Asset Management and Strategic Holdings | Debt Obligations of Consolidated CFEs
Liabilities, at fair value
Debt Obligations of Consolidated CFEs	0	0
Fair Value Measured on Recurring Basis | Level I | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	5,316	(2,379)
Counterparty Netting and Cash Collateral	(159)	(23,522)
AFS Fixed Maturity Securities	0	1,082,421
Trading Fixed Maturity Securities	0	2,354,194
Mortgage and Other Loan Receivables	0	0
Other Investments	207,281	4,215
Funds Withheld Receivable at Interest	0	0
Reinsurance Recoverable	0	0
Separate Account Assets	3,981,060	4,107,000
Total Financial Assets	4,193,657	7,545,451
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	438	1,497
Policy Liabilities (Including Market Risk Benefits)	0	0
Closed Block Policy Liabilities	0	0
Funds Withheld Payable at Interest	0	0
Cash Collateral	(159)	(23,522)
Total Liabilities at Fair Value	438	1,497
Fair Value Measured on Recurring Basis | Level I | Insurance | Interest Sensitive Life
Liabilities, at fair value
Embedded Derivative	0	0
Fair Value Measured on Recurring Basis | Level I | Insurance | Fixed-Indexed Annuity
Liabilities, at fair value
Embedded Derivative	0	0
Fair Value Measured on Recurring Basis | Level I | Insurance | U.S. Government and Agencies
Assets, at fair value:
AFS Fixed Maturity Securities	0	1,082,421
Trading Fixed Maturity Securities	0	2,354,194
Fair Value Measured on Recurring Basis | Level I | Insurance | U.S. State, Municipal and Political Subdivisions
Assets, at fair value:
AFS Fixed Maturity Securities	0	0
Trading Fixed Maturity Securities	0	0
Fair Value Measured on Recurring Basis | Level I | Insurance | Corporate
Assets, at fair value:
AFS Fixed Maturity Securities	0	0
Trading Fixed Maturity Securities	0	0
Fair Value Measured on Recurring Basis | Level I | Insurance | Structured Securities
Assets, at fair value:
AFS Fixed Maturity Securities	0	0
Trading Fixed Maturity Securities	0	0
Fair Value Measured on Recurring Basis | Level I | Foreign Exchange Contracts and Options | Asset Management and Strategic Holdings
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Fair Value Measured on Recurring Basis | Level I | Other Derivatives | Asset Management and Strategic Holdings
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	42	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	143
Fair Value Measured on Recurring Basis | Level I | Equity Market Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	5,475	1,669
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	508	7,088
Fair Value Measured on Recurring Basis | Level I | Interest Rate Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0	19,474
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	89	17,931
Fair Value Measured on Recurring Basis | Level I | Foreign Currency Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Fair Value Measured on Recurring Basis | Level I | Other Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Fair Value Measured on Recurring Basis | Level I | Private Equity | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	816,229	1,762,257
Fair Value Measured on Recurring Basis | Level I | Credit | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	0	281,626
Fair Value Measured on Recurring Basis | Level I | Investments of Consolidated CFEs | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	0	0
Fair Value Measured on Recurring Basis | Level I | Real Assets | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	436,546	676,808
Fair Value Measured on Recurring Basis | Level I | Real Assets | Insurance
Assets, at fair value:
Total Investments	0	0
Fair Value Measured on Recurring Basis | Level I | Equity Method - Other | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	162,950	418,791
Fair Value Measured on Recurring Basis | Level I | Other Investments | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	179,102	218,151
Fair Value Measured on Recurring Basis | Level II
Assets, at fair value:
Total Financial Assets	116,631,658	101,494,533
Liabilities, at fair value
Total Liabilities at Fair Value	27,670,897	25,864,951
Fair Value Measured on Recurring Basis | Level II | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	31,851,562	28,045,168
Total Financial Assets	32,371,477	28,314,581
Liabilities, at fair value
Securities Sold Short	0	0
Unfunded Revolver Commitments	0	0
Total Liabilities at Fair Value	27,282,148	25,720,251
Fair Value Measured on Recurring Basis | Level II | Asset Management and Strategic Holdings | Debt Obligations of Consolidated CFEs
Liabilities, at fair value
Debt Obligations of Consolidated CFEs	27,150,809	25,276,404
Fair Value Measured on Recurring Basis | Level II | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	56,035	48,073
Counterparty Netting and Cash Collateral	(2,285,052)	(1,785,807)
AFS Fixed Maturity Securities	64,597,162	57,930,764
Trading Fixed Maturity Securities	19,337,734	15,201,115
Mortgage and Other Loan Receivables	0	0
Other Investments	269,250	0
Funds Withheld Receivable at Interest	0	0
Reinsurance Recoverable	0	0
Separate Account Assets	0	0
Total Financial Assets	84,260,181	73,179,952
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	388,749	144,700
Policy Liabilities (Including Market Risk Benefits)	0	0
Closed Block Policy Liabilities	0	0
Funds Withheld Payable at Interest	0	0
Cash Collateral	(910,024)	(887,558)
Total Liabilities at Fair Value	388,749	144,700
Fair Value Measured on Recurring Basis | Level II | Insurance | Interest Sensitive Life
Liabilities, at fair value
Embedded Derivative	0	0
Fair Value Measured on Recurring Basis | Level II | Insurance | Fixed-Indexed Annuity
Liabilities, at fair value
Embedded Derivative	0	0
Fair Value Measured on Recurring Basis | Level II | Insurance | U.S. Government and Agencies
Assets, at fair value:
AFS Fixed Maturity Securities	2,391,407	120,671
Trading Fixed Maturity Securities	2,425,469	163,919
Fair Value Measured on Recurring Basis | Level II | Insurance | U.S. State, Municipal and Political Subdivisions
Assets, at fair value:
AFS Fixed Maturity Securities	3,769,461	4,607,392
Trading Fixed Maturity Securities	380,175	1,223,946
Fair Value Measured on Recurring Basis | Level II | Insurance | Corporate
Assets, at fair value:
AFS Fixed Maturity Securities	32,585,117	31,377,753
Trading Fixed Maturity Securities	10,132,588	9,815,909
Fair Value Measured on Recurring Basis | Level II | Insurance | Structured Securities
Assets, at fair value:
AFS Fixed Maturity Securities	25,851,177	21,824,948
Trading Fixed Maturity Securities	6,399,502	3,997,341
Fair Value Measured on Recurring Basis | Level II | Foreign Exchange Contracts and Options | Asset Management and Strategic Holdings
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	511,513	264,621
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	131,339	441,608
Fair Value Measured on Recurring Basis | Level II | Other Derivatives | Asset Management and Strategic Holdings
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	8,402	4,792
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	2,239
Fair Value Measured on Recurring Basis | Level II | Equity Market Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	1,915,689	1,479,206
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	142,541	241,039
Fair Value Measured on Recurring Basis | Level II | Interest Rate Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	247,800	264,593
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	1,072,481	660,525
Fair Value Measured on Recurring Basis | Level II | Foreign Currency Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	175,703	90,081
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	83,557	130,094
Fair Value Measured on Recurring Basis | Level II | Other Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	1,895
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	194	600
Fair Value Measured on Recurring Basis | Level II | Private Equity | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	523,274	58,653
Fair Value Measured on Recurring Basis | Level II | Credit | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	3,249,173	2,540,362
Fair Value Measured on Recurring Basis | Level II | Investments of Consolidated CFEs | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	27,488,538	24,996,298
Fair Value Measured on Recurring Basis | Level II | Real Assets | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	261,902	27,567
Fair Value Measured on Recurring Basis | Level II | Real Assets | Insurance
Assets, at fair value:
Total Investments	0	0
Fair Value Measured on Recurring Basis | Level II | Equity Method - Other | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	264,284	326,835
Fair Value Measured on Recurring Basis | Level II | Other Investments | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	64,391	95,453
Fair Value Measured on Recurring Basis | Level III
Assets, at fair value:
Total Financial Assets	81,354,288	71,778,388
Liabilities, at fair value
Total Liabilities at Fair Value	5,540,299	4,136,577
Fair Value Measured on Recurring Basis | Level III | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	56,707,298	53,473,853
Total Financial Assets	56,707,298	53,473,853
Liabilities, at fair value
Securities Sold Short	0	0
Unfunded Revolver Commitments	96,848	94,683
Total Liabilities at Fair Value	96,848	94,683
Fair Value Measured on Recurring Basis | Level III | Asset Management and Strategic Holdings | Debt Obligations of Consolidated CFEs
Liabilities, at fair value
Debt Obligations of Consolidated CFEs	0	0
Fair Value Measured on Recurring Basis | Level III | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0	0
Counterparty Netting and Cash Collateral	0	0
AFS Fixed Maturity Securities	11,662,794	10,401,003
Trading Fixed Maturity Securities	2,081,507	1,250,161
Mortgage and Other Loan Receivables	1,611,109	697,402
Other Investments	103,823	126,008
Funds Withheld Receivable at Interest	125,887	88,661
Reinsurance Recoverable	940,731	926,035
Separate Account Assets	0	0
Total Financial Assets	24,646,990	18,304,535
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Policy Liabilities (Including Market Risk Benefits)	1,279,794	1,474,970
Closed Block Policy Liabilities	988,320	968,554
Funds Withheld Payable at Interest	(2,797,544)	(2,447,303)
Cash Collateral	0	0
Total Liabilities at Fair Value	5,443,451	4,041,894
Fair Value Measured on Recurring Basis | Level III | Insurance | Interest Sensitive Life
Liabilities, at fair value
Embedded Derivative	491,818	458,302
Fair Value Measured on Recurring Basis | Level III | Insurance | Fixed-Indexed Annuity
Liabilities, at fair value
Embedded Derivative	5,481,063	3,587,371
Fair Value Measured on Recurring Basis | Level III | Insurance | U.S. Government and Agencies
Assets, at fair value:
AFS Fixed Maturity Securities	0	0
Trading Fixed Maturity Securities	0	0
Fair Value Measured on Recurring Basis | Level III | Insurance | U.S. State, Municipal and Political Subdivisions
Assets, at fair value:
AFS Fixed Maturity Securities	0	0
Trading Fixed Maturity Securities	0	0
Fair Value Measured on Recurring Basis | Level III | Insurance | Corporate
Assets, at fair value:
AFS Fixed Maturity Securities	9,354,150	8,571,003
Trading Fixed Maturity Securities	1,322,304	656,923
Fair Value Measured on Recurring Basis | Level III | Insurance | Structured Securities
Assets, at fair value:
AFS Fixed Maturity Securities	2,308,644	1,830,000
Trading Fixed Maturity Securities	759,203	593,238
Fair Value Measured on Recurring Basis | Level III | Foreign Exchange Contracts and Options | Asset Management and Strategic Holdings
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Fair Value Measured on Recurring Basis | Level III | Other Derivatives | Asset Management and Strategic Holdings
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Fair Value Measured on Recurring Basis | Level III | Equity Market Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Fair Value Measured on Recurring Basis | Level III | Interest Rate Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Fair Value Measured on Recurring Basis | Level III | Foreign Currency Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Fair Value Measured on Recurring Basis | Level III | Other Contracts | Insurance
Assets, at fair value:
Net Amounts Presented in the Statements of Financial Condition	0
Liabilities, at fair value
Net Amounts Presented in the Statements of Financial Condition	0	0
Fair Value Measured on Recurring Basis | Level III | Private Equity | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	33,123,449	30,921,574
Fair Value Measured on Recurring Basis | Level III | Credit | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	4,805,408	5,452,916
Fair Value Measured on Recurring Basis | Level III | Investments of Consolidated CFEs | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	0	0
Fair Value Measured on Recurring Basis | Level III | Real Assets | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	12,524,290	11,295,633
Fair Value Measured on Recurring Basis | Level III | Real Assets | Insurance
Assets, at fair value:
Total Investments	8,121,139	4,815,265
Fair Value Measured on Recurring Basis | Level III | Equity Method - Other | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	1,405,300	1,537,962
Fair Value Measured on Recurring Basis | Level III | Other Investments | Asset Management and Strategic Holdings
Assets, at fair value:
Total Investments	4,848,851	4,265,768
Fair Value Measured on Recurring Basis | Fair Value Measured at Net Asset Value Per Share | Private Equity | Insurance
Assets, at fair value:
Other Investments	4,300	5,900
Fair Value Measured on Recurring Basis | Fair Value Measured at Net Asset Value Per Share | Real Assets | Insurance
Assets, at fair value:
Total Investments	$ 34,500	$ 132,600

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in Level III Assets (Details) - Level III - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	$ 71,778,388	$ 70,824,615
Transfers In / (Out) - Changes in Consolidation	22,009	(8,675,404)
Transfers In	415,705	705,221
Transfers Out	(719,891)	(271,198)
Net Purchases/Issuances/Sales/Settlements	7,864,406	7,803,037
Net Unrealized and Realized Gains (Losses)	1,835,443	1,280,169
Change in OCI	158,229	111,948
Balance, End of Period	81,354,288	71,778,388
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	1,721,747	1,344,430
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	$ 108,935	$ 116,049
Fair Value, Recurring Basis, Unobservable Input Reconciliation Asset, Gain (Loss) Statement Of Income Extensible List Not Disclosed	Net Unrealized and Realized Gains (Losses)	Net Unrealized and Realized Gains (Losses)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest
Fair Value Liabilities, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement Of Income, Extensible List Not Disclosed Flag	Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date
Asset Management and Strategic Holdings
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	$ 53,473,853	$ 53,096,881
Transfers In / (Out) - Changes in Consolidation	22,009	(8,675,404)
Transfers In	194,758	309,580
Transfers Out	(599,526)	(243,466)
Net Purchases/Issuances/Sales/Settlements	1,728,983	7,551,076
Net Unrealized and Realized Gains (Losses)	1,887,045	1,435,186
Change in OCI	177	0
Balance, End of Period	56,707,298	53,473,853
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	1,808,213	1,569,100
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	177	0
Insurance
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	18,304,535	17,727,734
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	220,947	395,641
Transfers Out	(120,365)	(27,732)
Net Purchases/Issuances/Sales/Settlements	6,135,423	251,961
Net Unrealized and Realized Gains (Losses)	(51,602)	(155,017)
Change in OCI	158,052	111,948
Balance, End of Period	24,646,990	18,304,535
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	(86,466)	(224,670)
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	108,758	116,049
AFS Fixed Maturity Securities | Insurance
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	10,401,003	9,730,098
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	95,965	383,670
Transfers Out	(53,598)	(15,666)
Net Purchases/Issuances/Sales/Settlements	1,169,780	121,098
Net Unrealized and Realized Gains (Losses)	(108,408)	69,855
Change in OCI	158,052	111,948
Balance, End of Period	11,662,794	10,401,003
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	108,758	116,049
AFS Fixed Maturity Securities | Insurance | AFS Corporate Securities
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	8,571,003	8,310,657
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	108,323
Transfers Out	(301)	0
Net Purchases/Issuances/Sales/Settlements	822,496	57,480
Net Unrealized and Realized Gains (Losses)	(144,561)	50,066
Change in OCI	105,513	44,477
Balance, End of Period	9,354,150	8,571,003
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	39,834	55,176
AFS Fixed Maturity Securities | Insurance | Structured Securities
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	1,830,000	1,419,441
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	95,965	275,347
Transfers Out	(53,297)	(15,666)
Net Purchases/Issuances/Sales/Settlements	347,284	63,618
Net Unrealized and Realized Gains (Losses)	36,153	19,789
Change in OCI	52,539	67,471
Balance, End of Period	2,308,644	1,830,000
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	68,924	60,873
Trading Fixed Maturity Securities | Insurance
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	1,250,161	1,315,834
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	124,982	11,971
Transfers Out	(66,767)	(12,066)
Net Purchases/Issuances/Sales/Settlements	675,686	(47,036)
Net Unrealized and Realized Gains (Losses)	97,445	(18,542)
Change in OCI	0	0
Balance, End of Period	2,081,507	1,250,161
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	39,464	(5,613)
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Trading Fixed Maturity Securities | Insurance | AFS Corporate Securities
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	656,923	672,023
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	1,416	0
Transfers Out	0	(188)
Net Purchases/Issuances/Sales/Settlements	608,282	(508)
Net Unrealized and Realized Gains (Losses)	55,683	(14,404)
Change in OCI	0	0
Balance, End of Period	1,322,304	656,923
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	17,563	(10,951)
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Trading Fixed Maturity Securities | Insurance | Structured Securities
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	593,238	643,811
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	123,566	11,971
Transfers Out	(66,767)	(11,878)
Net Purchases/Issuances/Sales/Settlements	67,404	(46,528)
Net Unrealized and Realized Gains (Losses)	41,762	(4,138)
Change in OCI	0	0
Balance, End of Period	759,203	593,238
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	21,901	5,338
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Mortgage and Other Loan Receivables | Insurance
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	697,402	787,515
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Issuances/Sales/Settlements	877,418	(89,548)
Net Unrealized and Realized Gains (Losses)	36,289	(565)
Change in OCI	0	0
Balance, End of Period	1,611,109	697,402
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	44,887	(1,637)
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Other Investments | Insurance
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	126,008	141,763
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Issuances/Sales/Settlements	4,067	7,319
Net Unrealized and Realized Gains (Losses)	(26,252)	(23,074)
Change in OCI	0	0
Balance, End of Period	103,823	126,008
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	(52,911)	(23,645)
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Funds Withheld Receivable at Interest | Insurance
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	88,661	12,785
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Issuances/Sales/Settlements	0	0
Net Unrealized and Realized Gains (Losses)	37,226	75,876
Change in OCI	0	0
Balance, End of Period	125,887	88,661
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Reinsurance Recoverable | Insurance
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	926,035	981,775
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Issuances/Sales/Settlements	(4,514)	(7,200)
Net Unrealized and Realized Gains (Losses)	19,210	(48,540)
Change in OCI	0	0
Balance, End of Period	940,731	926,035
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Private Equity | Investments | Asset Management and Strategic Holdings
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	30,921,574	25,336,957
Transfers In / (Out) - Changes in Consolidation	(1,064,234)	286,848
Transfers In	9,042	33,231
Transfers Out	(412,552)	(29,417)
Net Purchases/Issuances/Sales/Settlements	1,533,345	3,693,726
Net Unrealized and Realized Gains (Losses)	2,136,275	1,600,229
Change in OCI	0	0
Balance, End of Period	33,123,449	30,921,574
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	2,105,048	1,696,643
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Credit | Investments | Asset Management and Strategic Holdings
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	5,452,916	5,786,026
Transfers In / (Out) - Changes in Consolidation	151,713	0
Transfers In	185,716	253,572
Transfers Out	(115,891)	(188,710)
Net Purchases/Issuances/Sales/Settlements	(589,790)	(470,131)
Net Unrealized and Realized Gains (Losses)	(279,256)	72,159
Change in OCI	0	0
Balance, End of Period	4,805,408	5,452,916
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	(131,728)	116,478
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Real Assets | Investments | Asset Management and Strategic Holdings
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	11,295,633	17,015,112
Transfers In / (Out) - Changes in Consolidation	934,530	(8,962,252)
Transfers In	0	0
Transfers Out	0	(628)
Net Purchases/Issuances/Sales/Settlements	181,621	3,643,071
Net Unrealized and Realized Gains (Losses)	112,506	(399,670)
Change in OCI	0	0
Balance, End of Period	12,524,290	11,295,633
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	18,321	(434,545)
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Real Assets | Investments | Insurance
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	4,815,265	4,757,964
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Issuances/Sales/Settlements	3,412,986	267,328
Net Unrealized and Realized Gains (Losses)	(107,112)	(210,027)
Change in OCI	0	0
Balance, End of Period	8,121,139	4,815,265
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	(117,906)	(193,775)
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Equity Method - Other | Investments | Asset Management and Strategic Holdings
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	1,537,962	1,624,420
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	(62,977)	(2,335)
Net Purchases/Issuances/Sales/Settlements	(51,372)	(343,597)
Net Unrealized and Realized Gains (Losses)	(18,313)	259,474
Change in OCI	0	0
Balance, End of Period	1,405,300	1,537,962
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	(24,713)	260,584
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Other Investments | Investments | Asset Management and Strategic Holdings
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	4,265,768	3,334,366
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	22,777
Transfers Out	(8,106)	(22,376)
Net Purchases/Issuances/Sales/Settlements	655,179	1,025,854
Net Unrealized and Realized Gains (Losses)	(64,167)	(94,853)
Change in OCI	177	0
Balance, End of Period	4,848,851	4,265,768
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	(158,715)	(70,060)
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date	177	0
Other Derivatives | Investments | Asset Management and Strategic Holdings
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	$ 0	0
Transfers In / (Out) - Changes in Consolidation		0
Transfers In		0
Transfers Out		0
Net Purchases/Issuances/Sales/Settlements		2,153
Net Unrealized and Realized Gains (Losses)		(2,153)
Change in OCI		0
Balance, End of Period		0
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date		0
Changes in Net Unrealized Gains (Losses) Included in OCI related to Level III Assets and Liabilities still held as of the Reporting Date		$ 0

FAIR VALUE MEASUREMENTS - Break

FAIR VALUE MEASUREMENTS - Breakout of Asset Net Purchases/Issuances/Sales/Settlements (Details) - Level III - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	$ 20,753,308	$ 15,250,131
Issuances	0	0
Sales	(9,405,077)	(5,527,245)
Settlements	(3,483,825)	(1,919,849)
Net Purchases/Issuances/Sales/Settlements	7,864,406	7,803,037
Asset Management and Strategic Holdings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	9,915,344	13,117,492
Issuances	0	0
Sales	(7,698,752)	(5,279,620)
Settlements	(487,609)	(286,796)
Net Purchases/Issuances/Sales/Settlements	1,728,983	7,551,076
Insurance
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	10,837,964	2,132,639
Issuances	0	0
Sales	(1,706,325)	(247,625)
Settlements	(2,996,216)	(1,633,053)
Net Purchases/Issuances/Sales/Settlements	6,135,423	251,961
Investments | Private Equity | Asset Management and Strategic Holdings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	2,818,924	4,909,109
Issuances	0	0
Sales	(1,285,579)	(1,215,383)
Settlements	0	0
Net Purchases/Issuances/Sales/Settlements	1,533,345	3,693,726
Investments | Credit | Asset Management and Strategic Holdings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	1,501,339	1,598,277
Issuances	0	0
Sales	(1,695,729)	(1,945,798)
Settlements	(395,400)	(122,610)
Net Purchases/Issuances/Sales/Settlements	(589,790)	(470,131)
Investments | Real Assets | Asset Management and Strategic Holdings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	1,954,238	5,052,128
Issuances	0	0
Sales	(1,772,617)	(1,408,018)
Settlements	0	(1,039)
Net Purchases/Issuances/Sales/Settlements	181,621	3,643,071
Investments | Real Assets | Insurance
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	3,431,726	293,571
Issuances	0	0
Sales	(18,740)	(26,243)
Settlements	0	0
Net Purchases/Issuances/Sales/Settlements	3,412,986	267,328
Investments | Equity Method - Other | Asset Management and Strategic Holdings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	4,087	10,130
Issuances	0	0
Sales	(55,459)	(353,727)
Settlements	0	0
Net Purchases/Issuances/Sales/Settlements	(51,372)	(343,597)
Investments | Other Investments | Asset Management and Strategic Holdings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	3,636,756	1,545,695
Issuances	0	0
Sales	(2,889,368)	(356,694)
Settlements	(92,209)	(163,147)
Net Purchases/Issuances/Sales/Settlements	655,179	1,025,854
Investments | Other Derivatives | Asset Management and Strategic Holdings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		2,153
Issuances		0
Sales		0
Settlements		0
Net Purchases/Issuances/Sales/Settlements		2,153
AFS Fixed Maturity Securities | Insurance
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	4,847,678	1,699,319
Issuances	0	0
Sales	(1,251,216)	(158,879)
Settlements	(2,426,682)	(1,419,342)
Net Purchases/Issuances/Sales/Settlements	1,169,780	121,098
AFS Fixed Maturity Securities | Insurance | AFS Corporate Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	3,852,070	1,332,909
Issuances	0	0
Sales	(1,239,285)	(157,859)
Settlements	(1,790,289)	(1,117,570)
Net Purchases/Issuances/Sales/Settlements	822,496	57,480
AFS Fixed Maturity Securities | Insurance | Structured Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	995,608	366,410
Issuances	0	0
Sales	(11,931)	(1,020)
Settlements	(636,393)	(301,772)
Net Purchases/Issuances/Sales/Settlements	347,284	63,618
Fixed maturity securities, trading, at fair value | Insurance
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	1,488,323	130,416
Issuances	0	0
Sales	(433,882)	(59,207)
Settlements	(378,755)	(118,245)
Net Purchases/Issuances/Sales/Settlements	675,686	(47,036)
Fixed maturity securities, trading, at fair value | Insurance | AFS Corporate Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	1,132,431	74,783
Issuances	0	0
Sales	(224,710)	(8,014)
Settlements	(299,439)	(67,277)
Net Purchases/Issuances/Sales/Settlements	608,282	(508)
Fixed maturity securities, trading, at fair value | Insurance | Structured Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	355,892	55,633
Issuances	0	0
Sales	(209,172)	(51,193)
Settlements	(79,316)	(50,968)
Net Purchases/Issuances/Sales/Settlements	67,404	(46,528)
Mortgage and Other Loan Receivables | Insurance
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	1,065,772	1,796
Issuances	0	0
Sales	(2,487)	(3,078)
Settlements	(185,867)	(88,266)
Net Purchases/Issuances/Sales/Settlements	877,418	(89,548)
Other Investments | Insurance
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	4,465	7,537
Issuances	0	0
Sales	0	(218)
Settlements	(398)	0
Net Purchases/Issuances/Sales/Settlements	4,067	7,319
Reinsurance Recoverable | Insurance
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	(4,514)	(7,200)
Net Purchases/Issuances/Sales/Settlements	$ (4,514)	$ (7,200)

FAIR VALUE MEASUREMENTS - Cha_2

FAIR VALUE MEASUREMENTS - Changes in Level III Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Fair Value, Recurring Basis Unobservable Input Reconciliation, Liability, Gain (Loss), Statement Of Income, Extensible List, Not Disclosed Flag	Net Unrealized and Realized Gains (Losses)	Net Unrealized and Realized Gains (Losses)
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest
Fair Value Liabilities, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement Of Income, Extensible List Not Disclosed Flag	Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date
Level III
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	$ 4,136,577	$ 918,599
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Sales/Settlements/Issuances	1,059,050	895,749
Net Unrealized and Realized Gains (Losses)	318,950	2,077,498
Change in OCI	25,722	244,731
Balance, End of Period	5,540,299	4,136,577
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	2,165	(42,632)
Level III | Asset Management and Strategic Holdings
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	94,683	137,315
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Sales/Settlements/Issuances	0	0
Net Unrealized and Realized Gains (Losses)	2,165	(42,632)
Change in OCI	0	0
Balance, End of Period	96,848	94,683
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	2,165	(42,632)
Level III | Insurance
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	4,041,894	781,284
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Sales/Settlements/Issuances	1,059,050	895,749
Net Unrealized and Realized Gains (Losses)	316,785	2,120,130
Change in OCI	25,722	244,731
Balance, End of Period	5,443,451	4,041,894
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Level III | Unfunded Revolver Commitments | Asset Management and Strategic Holdings
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	94,683	137,315
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Sales/Settlements/Issuances	0	0
Net Unrealized and Realized Gains (Losses)	2,165	(42,632)
Change in OCI	0	0
Balance, End of Period	96,848	94,683
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	2,165	(42,632)
Level III | Policy Liabilities | Insurance
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	1,474,970	1,063,496
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Sales/Settlements/Issuances	44,891	(4,292)
Net Unrealized and Realized Gains (Losses)	(268,545)	177,932
Change in OCI	28,478	237,834
Balance, End of Period	1,279,794	1,474,970
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Level III | Closed Block Policy Liabilities | Insurance
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	968,554	1,016,313
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Sales/Settlements/Issuances	5,652	(11,951)
Net Unrealized and Realized Gains (Losses)	16,870	(42,705)
Change in OCI	(2,756)	6,897
Balance, End of Period	988,320	968,554
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Level III | Funds Withheld Payable at Interest | Insurance
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	(2,447,303)	(3,487,766)
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Sales/Settlements/Issuances	0	0
Net Unrealized and Realized Gains (Losses)	(350,241)	1,040,463
Change in OCI	0	0
Balance, End of Period	(2,797,544)	(2,447,303)
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Level III | Embedded Derivative | Insurance | Interest Sensitive Life
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	458,302	337,860
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Sales/Settlements/Issuances	(100,797)	(43,820)
Net Unrealized and Realized Gains (Losses)	134,313	164,262
Change in OCI	0	0
Balance, End of Period	491,818	458,302
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	0	0
Level III | Embedded Derivative | Insurance | Fixed-Indexed Annuity
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	3,587,371	1,851,381
Transfers In / (Out) - Changes in Consolidation	0	0
Transfers In	0	0
Transfers Out	0	0
Net Purchases/Sales/Settlements/Issuances	1,109,304	955,812
Net Unrealized and Realized Gains (Losses)	784,388	780,178
Change in OCI	0	0
Balance, End of Period	5,481,063	3,587,371
Changes in Net Unrealized Gains (Losses) Included in Earnings related to Level III Assets and Liabilities still held as of the Reporting Date	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Bre_2

FAIR VALUE MEASUREMENTS - Breakout of Liability Issuances and Settlements (Details) - Level III - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Liabilities
Issuances	$ 1,439,944	$ 1,083,782
Settlements	(380,894)	(188,033)
Net Issuances/Settlements	1,059,050	895,749
Asset Management and Strategic Holdings
Liabilities
Issuances	0	0
Settlements	0	0
Net Issuances/Settlements	0	0
Asset Management and Strategic Holdings | Unfunded Revolver Commitments
Liabilities
Issuances	0	0
Settlements	0	0
Net Issuances/Settlements	0	0
Insurance
Liabilities
Issuances	1,439,944	1,083,782
Settlements	(380,894)	(188,033)
Net Issuances/Settlements	1,059,050	895,749
Insurance | Policy Liabilities
Liabilities
Issuances	59,211	1,803
Settlements	(14,320)	(6,095)
Net Issuances/Settlements	44,891	(4,292)
Insurance | Closed Block Policy Liabilities
Liabilities
Issuances	5,652	0
Settlements	0	(11,951)
Net Issuances/Settlements	5,652	(11,951)
Insurance | Embedded Derivative | Interest Sensitive Life
Liabilities
Issuances	0	0
Settlements	(100,797)	(43,820)
Net Issuances/Settlements	(100,797)	(43,820)
Insurance | Embedded Derivative | Fixed-Indexed Annuity
Liabilities
Issuances	1,375,081	1,081,979
Settlements	(265,777)	(126,167)
Net Issuances/Settlements	$ 1,109,304	$ 955,812

FAIR VALUE MEASUREMENTS - Valua

FAIR VALUE MEASUREMENTS - Valuation Methodologies and Significant Unobservable Inputs (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) $ / Boe	Dec. 31, 2023 USD ($)
Level III Liabilities
Embedded derivative, fair value	$ 6,000,000,000	$ 4,000,000,000
Minimum | Illiquidity Discount
Level III Assets
Private equity, measurement input	0.05
Insurance
Level III Assets
Reinsurance recoverable, fair value	$ 45,270,625,000	$ 36,617,344,000
Level III | Asset Management and Strategic Holdings
Level III Assets
Private equity, fair value	33,123,449,000
Credit, fair value	4,805,408,000
Real Assets	12,524,290,000
Other investments, fair value	4,848,851,000
Level III Liabilities
Unfunded revolving commitments, fair value	96,848,000
Level III | Asset Management and Strategic Holdings | Equity Method - Other | Investments
Level III Assets
Equity method - other, fair value	$ 1,405,300,000
Level III | Asset Management and Strategic Holdings | Weighted Average | Illiquidity Discount
Level III Assets
Equity method - other, measurement input	0.071
Other investments, measurement input	0.085
Level III | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Market Comparables
Level III Assets
Equity method - other, measurement input	0.528
Other investments, measurement input	0.233
Level III | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Discounted Cash Flow
Level III Assets
Equity method - other, measurement input	0.465
Other investments, measurement input	0.389
Level III | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Transaction Price
Level III Assets
Equity method - other, measurement input	0.007
Other investments, measurement input	0.378
Level III | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Equity method - other, measurement input	12.4
Other investments, measurement input	12
Level III | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Equity method - other, measurement input	11.7
Other investments, measurement input	15.3
Level III | Asset Management and Strategic Holdings | Weighted Average | Weighted Average Cost of Capital
Level III Assets
Equity method - other, measurement input	0.108
Other investments, measurement input	0.128
Level III | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/EBITDA Exit Multiple
Level III Assets
Equity method - other, measurement input	11
Other investments, measurement input	13.3
Level III | Asset Management and Strategic Holdings | Weighted Average | Yield
Level III Assets
Credit, measurement input	0.107
Level III Liabilities
Unfunded revolving commitments, measurement input	0.097
Level III | Asset Management and Strategic Holdings | Weighted Average | Net Leverage
Level III Assets
Credit, measurement input	5.9
Level III | Asset Management and Strategic Holdings | Weighted Average | EBITDA Multiple
Level III Assets
Credit, measurement input	12.1
Level III | Asset Management and Strategic Holdings | Minimum | Illiquidity Discount
Level III Assets
Equity method - other, measurement input	0.050
Other investments, measurement input	0.050
Level III | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Market Comparables
Level III Assets
Equity method - other, measurement input	0
Other investments, measurement input	0
Level III | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Equity method - other, measurement input	0
Other investments, measurement input	0
Level III | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Transaction Price
Level III Assets
Equity method - other, measurement input	0
Other investments, measurement input	0
Level III | Asset Management and Strategic Holdings | Minimum | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Equity method - other, measurement input	5.2
Other investments, measurement input	7.8
Level III | Asset Management and Strategic Holdings | Minimum | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Equity method - other, measurement input	5.3
Other investments, measurement input	7.3
Level III | Asset Management and Strategic Holdings | Minimum | Weighted Average Cost of Capital
Level III Assets
Equity method - other, measurement input	0.065
Other investments, measurement input	0.073
Level III | Asset Management and Strategic Holdings | Minimum | Enterprise Value/EBITDA Exit Multiple
Level III Assets
Equity method - other, measurement input	9.5
Other investments, measurement input	8.5
Level III | Asset Management and Strategic Holdings | Minimum | Yield
Level III Assets
Credit, measurement input	0
Level III Liabilities
Unfunded revolving commitments, measurement input	0.066
Level III | Asset Management and Strategic Holdings | Minimum | Net Leverage
Level III Assets
Credit, measurement input	1.6
Level III | Asset Management and Strategic Holdings | Minimum | EBITDA Multiple
Level III Assets
Credit, measurement input	1.4
Level III | Asset Management and Strategic Holdings | Maximum | Illiquidity Discount
Level III Assets
Equity method - other, measurement input	0.100
Other investments, measurement input	0.150
Level III | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Market Comparables
Level III Assets
Equity method - other, measurement input	1
Other investments, measurement input	1
Level III | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Equity method - other, measurement input	0.500
Other investments, measurement input	1
Level III | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Transaction Price
Level III Assets
Equity method - other, measurement input	1
Other investments, measurement input	1
Level III | Asset Management and Strategic Holdings | Maximum | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Equity method - other, measurement input	22.4
Other investments, measurement input	15.3
Level III | Asset Management and Strategic Holdings | Maximum | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Equity method - other, measurement input	19.4
Other investments, measurement input	19.1
Level III | Asset Management and Strategic Holdings | Maximum | Weighted Average Cost of Capital
Level III Assets
Equity method - other, measurement input	0.158
Other investments, measurement input	0.195
Level III | Asset Management and Strategic Holdings | Maximum | Enterprise Value/EBITDA Exit Multiple
Level III Assets
Equity method - other, measurement input	15
Other investments, measurement input	15
Level III | Asset Management and Strategic Holdings | Maximum | Yield
Level III Assets
Credit, measurement input	0.238
Level III Liabilities
Unfunded revolving commitments, measurement input	0.148
Level III | Asset Management and Strategic Holdings | Maximum | Net Leverage
Level III Assets
Credit, measurement input	10.5
Level III | Asset Management and Strategic Holdings | Maximum | EBITDA Multiple
Level III Assets
Credit, measurement input	30
Level III | Insurance
Level III Assets
Mortgage and Other Loan Receivables	$ 1,611,109,000
Reinsurance recoverable, fair value	940,731,000
Level III Liabilities
Policy liabilities, fair value	1,279,794,000
Closed block policy liabilities, fair value	$ 988,320,000
Level III | Insurance | Expense Assumption
Level III Assets
Reinsurance recoverable, measurement input, annual inflation increase	0.025
Level III Liabilities
Closed block policy liabilities, measurement input, annual inflation rate increase	0.025
Level III | Insurance | Instrument-specific credit risk | Valuation Technique, Market Risk Benefit, Instrument-Specific Credit Risk, 10 Year
Level III Liabilities
Policy liabilities, measurement input	0.006
Level III | Insurance | Instrument-specific credit risk | Valuation Technique, Market Risk Benefit, Instrument-Specific Credit Risk, 30 Year
Level III Liabilities
Policy liabilities, measurement input	0.007
Level III | Insurance | Interest Sensitive Life
Level III Liabilities
Embedded derivative, fair value	$ 491,818,000
Level III | Insurance | Fixed-Indexed Annuity
Level III Liabilities
Embedded derivative, fair value	$ 5,481,063,000
Level III | Insurance | Weighted Average | Discount Spread
Level III Assets
Mortgage and Other Loan Receivables, measurement input	0.026
Level III | Insurance | Weighted Average | Discount Rate
Level III Assets
Real assets, measurement input	0.074
Level III | Insurance | Weighted Average | Terminal Capitalization Rate
Level III Assets
Real assets, measurement input	0.058
Level III | Insurance | Weighted Average | Expense Assumption
Level III Assets
Reinsurance recoverable, measurement input, expense per policy (in dollars per share)	17.3
Level III Liabilities
Closed block liabilities, measurement input, value	17.3
Level III | Insurance | Weighted Average | Instrument-specific credit risk
Level III Liabilities
Closed block policy liabilities, measurement input	0.006
Level III | Insurance | Weighted Average | Expense Risk Margin
Level III Assets
Reinsurance recoverable, measurement input	0.094
Level III Liabilities
Closed block policy liabilities, measurement input	0.094
Level III | Insurance | Weighted Average | Cost of Capital
Level III Assets
Reinsurance recoverable, measurement input	0.097
Level III Liabilities
Closed block policy liabilities, measurement input	0.097
Level III | Insurance | Weighted Average | Mortality Rate
Level III Assets
Reinsurance recoverable, measurement input	0.057
Level III Liabilities
Closed block policy liabilities, measurement input	0.057
Level III | Insurance | Weighted Average | Mortality Rate | Policyholder behavior is also a significant unobservable input, including lapse, surrender and mortality.
Level III Liabilities
Policy liabilities, measurement input	0.048
Level III | Insurance | Weighted Average | Mortality Rate | Valuation Technique, Market Risk Benefit, Policyholder Behavior
Level III Liabilities
Policy liabilities, measurement input	0.026
Level III | Insurance | Weighted Average | Surrender Rate
Level III Assets
Reinsurance recoverable, measurement input	0.020
Level III Liabilities
Closed block policy liabilities, measurement input	0.020
Level III | Insurance | Weighted Average | Surrender Rate | Policyholder behavior is also a significant unobservable input, including lapse, surrender and mortality.
Level III Liabilities
Policy liabilities, measurement input	0.064
Level III | Insurance | Weighted Average | Surrender Rate | Valuation Technique, Market Risk Benefit, Policyholder Behavior
Level III Liabilities
Policy liabilities, measurement input	0.041
Level III | Insurance | Weighted Average | Risk Margin Rate
Level III Liabilities
Policy liabilities, measurement input	0.006
Level III | Insurance | Weighted Average | Interest Sensitive Life | Instrument-specific credit risk
Level III Liabilities
Embedded derivative, measurement input	0.006
Level III | Insurance | Weighted Average | Interest Sensitive Life | Mortality Rate
Level III Liabilities
Embedded derivative, measurement input	0.008
Level III | Insurance | Weighted Average | Interest Sensitive Life | Lapse Rate
Level III Liabilities
Embedded derivative, measurement input	0.032
Level III | Insurance | Weighted Average | Interest Sensitive Life | Option Budget Assumption
Level III Liabilities
Embedded derivative, measurement input	0.036
Level III | Insurance | Weighted Average | Fixed-Indexed Annuity | Utilization
Level III Liabilities
Embedded derivative, measurement input	0.965
Level III | Insurance | Weighted Average | Institutional FIA | Mortality Rate
Level III Liabilities
Embedded derivative, measurement input	0.019
Level III | Insurance | Weighted Average | Institutional FIA | Surrender Rate
Level III Liabilities
Embedded derivative, measurement input	0.186
Level III | Insurance | Weighted Average | Institutional FIA | Option Budget Assumption
Level III Liabilities
Embedded derivative, measurement input	0.037
Level III | Insurance | Weighted Average | Retail FIA | Mortality Rate
Level III Liabilities
Embedded derivative, measurement input	0.027
Level III | Insurance | Weighted Average | Retail FIA | Surrender Rate
Level III Liabilities
Embedded derivative, measurement input	0.139
Level III | Insurance | Weighted Average | Retail FIA | Option Budget Assumption
Level III Liabilities
Embedded derivative, measurement input	0.031
Level III | Insurance | Weighted Average | Variable Annuities | Instrument-specific credit risk
Level III Liabilities
Embedded derivative, measurement input	0.006
Level III | Insurance | Minimum | Discount Spread
Level III Assets
Mortgage and Other Loan Receivables, measurement input	0.007
Level III | Insurance | Minimum | Discount Rate
Level III Assets
Real assets, measurement input	0.065
Level III | Insurance | Minimum | Terminal Capitalization Rate
Level III Assets
Real assets, measurement input	0.050
Level III | Insurance | Minimum | Expense Assumption
Level III Assets
Reinsurance recoverable, measurement input, expense per policy (in dollars per share)	8.2
Level III Liabilities
Closed block policy liabilities, measurement input	8.2
Level III | Insurance | Minimum | Instrument-specific credit risk
Level III Liabilities
Closed block policy liabilities, measurement input	0.004
Level III | Insurance | Minimum | Cost of Capital
Level III Assets
Reinsurance recoverable, measurement input	0.037
Level III Liabilities
Closed block policy liabilities, measurement input	0.037
Level III | Insurance | Minimum | Mortality Rate | Policyholder behavior is also a significant unobservable input, including lapse, surrender and mortality.
Level III Liabilities
Policy liabilities, measurement input	0.035
Level III | Insurance | Minimum | Mortality Rate | Valuation Technique, Market Risk Benefit, Policyholder Behavior
Level III Liabilities
Policy liabilities, measurement input	0.006
Level III | Insurance | Minimum | Surrender Rate | Policyholder behavior is also a significant unobservable input, including lapse, surrender and mortality.
Level III Liabilities
Policy liabilities, measurement input	0.037
Level III | Insurance | Minimum | Surrender Rate | Valuation Technique, Market Risk Benefit, Policyholder Behavior
Level III Liabilities
Policy liabilities, measurement input	0.001
Level III | Insurance | Minimum | Risk Margin Rate
Level III Liabilities
Policy liabilities, measurement input	0.004
Level III | Insurance | Minimum | Interest Sensitive Life | Instrument-specific credit risk
Level III Liabilities
Embedded derivative, measurement input	0.004
Level III | Insurance | Minimum | Variable Annuities | Instrument-specific credit risk
Level III Liabilities
Embedded derivative, measurement input	0.004
Level III | Insurance | Maximum | Discount Spread
Level III Assets
Mortgage and Other Loan Receivables, measurement input	0.047
Level III | Insurance | Maximum | Discount Rate
Level III Assets
Real assets, measurement input	0.083
Level III | Insurance | Maximum | Terminal Capitalization Rate
Level III Assets
Real assets, measurement input	0.073
Level III | Insurance | Maximum | Expense Assumption
Level III Assets
Reinsurance recoverable, measurement input, expense per policy (in dollars per share)	78
Level III Liabilities
Closed block policy liabilities, measurement input	78
Level III | Insurance | Maximum | Instrument-specific credit risk
Level III Liabilities
Closed block policy liabilities, measurement input	0.007
Level III | Insurance | Maximum | Cost of Capital
Level III Assets
Reinsurance recoverable, measurement input	0.139
Level III Liabilities
Closed block policy liabilities, measurement input	0.139
Level III | Insurance | Maximum | Mortality Rate | Policyholder behavior is also a significant unobservable input, including lapse, surrender and mortality.
Level III Liabilities
Policy liabilities, measurement input	0.091
Level III | Insurance | Maximum | Mortality Rate | Valuation Technique, Market Risk Benefit, Policyholder Behavior
Level III Liabilities
Policy liabilities, measurement input	0.280
Level III | Insurance | Maximum | Surrender Rate | Policyholder behavior is also a significant unobservable input, including lapse, surrender and mortality.
Level III Liabilities
Policy liabilities, measurement input	0.076
Level III | Insurance | Maximum | Surrender Rate | Valuation Technique, Market Risk Benefit, Policyholder Behavior
Level III Liabilities
Policy liabilities, measurement input	0.395
Level III | Insurance | Maximum | Risk Margin Rate
Level III Liabilities
Policy liabilities, measurement input	0.008
Level III | Insurance | Maximum | Interest Sensitive Life | Instrument-specific credit risk
Level III Liabilities
Embedded derivative, measurement input	0.007
Level III | Insurance | Maximum | Variable Annuities | Instrument-specific credit risk
Level III Liabilities
Embedded derivative, measurement input	0.007
Level III | Private Equity | Asset Management and Strategic Holdings
Level III Assets
Private equity, fair value	$ 30,498,966,000
Level III | Private Equity | Asset Management and Strategic Holdings | Weighted Average | Illiquidity Discount
Level III Assets
Private equity, measurement input	0.060
Level III | Private Equity | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Market Comparables
Level III Assets
Private equity, measurement input	0.285
Level III | Private Equity | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Discounted Cash Flow
Level III Assets
Private equity, measurement input	0.693
Level III | Private Equity | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Transaction Price
Level III Assets
Private equity, measurement input	0.022
Level III | Private Equity | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Private equity, measurement input	18.9
Level III | Private Equity | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Private equity, measurement input	17.1
Level III | Private Equity | Asset Management and Strategic Holdings | Weighted Average | Weighted Average Cost of Capital
Level III Assets
Private equity, measurement input	0.093
Level III | Private Equity | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/EBITDA Exit Multiple
Level III Assets
Private equity, measurement input	14.8
Level III | Private Equity | Asset Management and Strategic Holdings | Minimum | Illiquidity Discount
Level III Assets
Private equity, measurement input	0.050
Level III | Private Equity | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Market Comparables
Level III Assets
Private equity, measurement input	0
Level III | Private Equity | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Private equity, measurement input	0
Level III | Private Equity | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Transaction Price
Level III Assets
Private equity, measurement input	0
Level III | Private Equity | Asset Management and Strategic Holdings | Minimum | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Private equity, measurement input	5
Level III | Private Equity | Asset Management and Strategic Holdings | Minimum | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Private equity, measurement input	4.7
Level III | Private Equity | Asset Management and Strategic Holdings | Minimum | Weighted Average Cost of Capital
Level III Assets
Private equity, measurement input	0.056
Level III | Private Equity | Asset Management and Strategic Holdings | Minimum | Enterprise Value/EBITDA Exit Multiple
Level III Assets
Private equity, measurement input	6
Level III | Private Equity | Asset Management and Strategic Holdings | Maximum | Illiquidity Discount
Level III Assets
Private equity, measurement input	0.200
Level III | Private Equity | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Market Comparables
Level III Assets
Private equity, measurement input	1
Level III | Private Equity | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Private equity, measurement input	1
Level III | Private Equity | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Transaction Price
Level III Assets
Private equity, measurement input	1
Level III | Private Equity | Asset Management and Strategic Holdings | Maximum | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Private equity, measurement input	29.1
Level III | Private Equity | Asset Management and Strategic Holdings | Maximum | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Private equity, measurement input	32.1
Level III | Private Equity | Asset Management and Strategic Holdings | Maximum | Weighted Average Cost of Capital
Level III Assets
Private equity, measurement input	0.144
Level III | Private Equity | Asset Management and Strategic Holdings | Maximum | Enterprise Value/EBITDA Exit Multiple
Level III Assets
Private equity, measurement input	27.6
Level III | Growth Equity | Asset Management and Strategic Holdings
Level III Assets
Growth equity, fair value disclosure	$ 2,624,483,000
Level III | Growth Equity | Asset Management and Strategic Holdings | Weighted Average | Illiquidity Discount
Level III Assets
Growth equity, measurement input	0.101
Level III | Growth Equity | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Market Comparables
Level III Assets
Growth equity, measurement input	0.352
Level III | Growth Equity | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Discounted Cash Flow
Level III Assets
Growth equity, measurement input	0.034
Level III | Growth Equity | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Transaction Price
Level III Assets
Growth equity, measurement input	0.116
Level III | Growth Equity | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Milestones
Level III Assets
Growth equity, measurement input	0.498
Level III | Growth Equity | Asset Management and Strategic Holdings | Weighted Average | Base
Level III Assets
Growth equity, measurement input	0.750
Level III | Growth Equity | Asset Management and Strategic Holdings | Weighted Average | Downside
Level III Assets
Growth equity, measurement input	0.118
Level III | Growth Equity | Asset Management and Strategic Holdings | Weighted Average | Upside
Level III Assets
Growth equity, measurement input	0.132
Level III | Growth Equity | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/Revenues Multiple
Level III Assets
Growth equity, measurement input	7
Level III | Growth Equity | Asset Management and Strategic Holdings | Minimum | Illiquidity Discount
Level III Assets
Growth equity, measurement input	0.100
Level III | Growth Equity | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Market Comparables
Level III Assets
Growth equity, measurement input	0
Level III | Growth Equity | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Growth equity, measurement input	0
Level III | Growth Equity | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Transaction Price
Level III Assets
Growth equity, measurement input	0
Level III | Growth Equity | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Milestones
Level III Assets
Growth equity, measurement input	0
Level III | Growth Equity | Asset Management and Strategic Holdings | Minimum | Base
Level III Assets
Growth equity, measurement input	0.500
Level III | Growth Equity | Asset Management and Strategic Holdings | Minimum | Downside
Level III Assets
Growth equity, measurement input	0.050
Level III | Growth Equity | Asset Management and Strategic Holdings | Minimum | Upside
Level III Assets
Growth equity, measurement input	0.100
Level III | Growth Equity | Asset Management and Strategic Holdings | Minimum | Enterprise Value/Revenues Multiple
Level III Assets
Growth equity, measurement input	2.3
Level III | Growth Equity | Asset Management and Strategic Holdings | Maximum | Illiquidity Discount
Level III Assets
Growth equity, measurement input	0.150
Level III | Growth Equity | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Market Comparables
Level III Assets
Growth equity, measurement input	1
Level III | Growth Equity | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Growth equity, measurement input	0.500
Level III | Growth Equity | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Transaction Price
Level III Assets
Growth equity, measurement input	1
Level III | Growth Equity | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Milestones
Level III Assets
Growth equity, measurement input	1
Level III | Growth Equity | Asset Management and Strategic Holdings | Maximum | Base
Level III Assets
Growth equity, measurement input	0.850
Level III | Growth Equity | Asset Management and Strategic Holdings | Maximum | Downside
Level III Assets
Growth equity, measurement input	0.250
Level III | Growth Equity | Asset Management and Strategic Holdings | Maximum | Upside
Level III Assets
Growth equity, measurement input	0.250
Level III | Growth Equity | Asset Management and Strategic Holdings | Maximum | Enterprise Value/Revenues Multiple
Level III Assets
Growth equity, measurement input	12
Level III | Energy | Liquids
Level III Assets
Revenue ratio of liquids	87%
Level III | Energy | Natural Gas
Level III Assets
Revenue ratio of natural gas	13%
Level III | Energy | Asset Management and Strategic Holdings
Level III Assets
Real Assets	$ 1,466,523,000
Level III | Energy | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Market Comparables
Level III Assets
Real assets, measurement input	0.447
Level III | Energy | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Discounted Cash Flow
Level III Assets
Real assets, measurement input	0.553
Level III | Energy | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Real assets, measurement input	5.2
Level III | Energy | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Real assets, measurement input	8.6
Level III | Energy | Asset Management and Strategic Holdings | Weighted Average | Weighted Average Cost of Capital
Level III Assets
Real assets, measurement input	0.130
Level III | Energy | Asset Management and Strategic Holdings | Weighted Average | Average Price Per BOE
Level III Assets
Real assets, measurement input, value | $ / Boe	42.44
Level III | Energy | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Market Comparables
Level III Assets
Real assets, measurement input	0
Level III | Energy | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Real assets, measurement input	0.500
Level III | Energy | Asset Management and Strategic Holdings | Minimum | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Real assets, measurement input	5.2
Level III | Energy | Asset Management and Strategic Holdings | Minimum | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Real assets, measurement input	5.3
Level III | Energy | Asset Management and Strategic Holdings | Minimum | Weighted Average Cost of Capital
Level III Assets
Real assets, measurement input	0.102
Level III | Energy | Asset Management and Strategic Holdings | Minimum | Average Price Per BOE
Level III Assets
Real assets, measurement input, value | $ / Boe	39.14
Level III | Energy | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Market Comparables
Level III Assets
Real assets, measurement input	0.500
Level III | Energy | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Real assets, measurement input	1
Level III | Energy | Asset Management and Strategic Holdings | Maximum | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Real assets, measurement input	5.2
Level III | Energy | Asset Management and Strategic Holdings | Maximum | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Real assets, measurement input	9.6
Level III | Energy | Asset Management and Strategic Holdings | Maximum | Weighted Average Cost of Capital
Level III Assets
Real assets, measurement input	0.142
Level III | Energy | Asset Management and Strategic Holdings | Maximum | Average Price Per BOE
Level III Assets
Real assets, measurement input, value | $ / Boe	47.69
Level III | Infrastructure | Asset Management and Strategic Holdings
Level III Assets
Real Assets	$ 997,361,000
Level III | Infrastructure | Asset Management and Strategic Holdings | Weighted Average | Illiquidity Discount
Level III Assets
Real assets, measurement input	0.067
Level III | Infrastructure | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Market Comparables
Level III Assets
Real assets, measurement input	0.112
Level III | Infrastructure | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Discounted Cash Flow
Level III Assets
Real assets, measurement input	0.888
Level III | Infrastructure | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Transaction Price
Level III Assets
Real assets, measurement input	0
Level III | Infrastructure | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Real assets, measurement input	11.8
Level III | Infrastructure | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Real assets, measurement input	22.2
Level III | Infrastructure | Asset Management and Strategic Holdings | Weighted Average | Weighted Average Cost of Capital
Level III Assets
Real assets, measurement input	0.070
Level III | Infrastructure | Asset Management and Strategic Holdings | Weighted Average | Enterprise Value/EBITDA Exit Multiple
Level III Assets
Real assets, measurement input	16.1
Level III | Infrastructure | Asset Management and Strategic Holdings | Minimum | Illiquidity Discount
Level III Assets
Real assets, measurement input	0.050
Level III | Infrastructure | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Market Comparables
Level III Assets
Real assets, measurement input	0
Level III | Infrastructure | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Real assets, measurement input	0.750
Level III | Infrastructure | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Transaction Price
Level III Assets
Real assets, measurement input	0
Level III | Infrastructure | Asset Management and Strategic Holdings | Minimum | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Real assets, measurement input	11.8
Level III | Infrastructure | Asset Management and Strategic Holdings | Minimum | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Real assets, measurement input	11.6
Level III | Infrastructure | Asset Management and Strategic Holdings | Minimum | Weighted Average Cost of Capital
Level III Assets
Real assets, measurement input	0.058
Level III | Infrastructure | Asset Management and Strategic Holdings | Minimum | Enterprise Value/EBITDA Exit Multiple
Level III Assets
Real assets, measurement input	10
Level III | Infrastructure | Asset Management and Strategic Holdings | Maximum | Illiquidity Discount
Level III Assets
Real assets, measurement input	0.100
Level III | Infrastructure | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Market Comparables
Level III Assets
Real assets, measurement input	0.250
Level III | Infrastructure | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Real assets, measurement input	1
Level III | Infrastructure | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Transaction Price
Level III Assets
Real assets, measurement input	0
Level III | Infrastructure | Asset Management and Strategic Holdings | Maximum | Enterprise Value/LTM EBITDA Multiple
Level III Assets
Real assets, measurement input	11.8
Level III | Infrastructure | Asset Management and Strategic Holdings | Maximum | Enterprise Value/Forward EBITDA Multiple
Level III Assets
Real assets, measurement input	25.6
Level III | Infrastructure | Asset Management and Strategic Holdings | Maximum | Weighted Average Cost of Capital
Level III Assets
Real assets, measurement input	0.087
Level III | Infrastructure | Asset Management and Strategic Holdings | Maximum | Enterprise Value/EBITDA Exit Multiple
Level III Assets
Real assets, measurement input	22
Level III | Real Estate | Asset Management and Strategic Holdings
Level III Assets
Real Assets	$ 10,060,406,000
Level III | Real Estate | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Discounted Cash Flow
Level III Assets
Real assets, measurement input	0.874
Level III | Real Estate | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Transaction Price
Level III Assets
Real assets, measurement input	0.040
Level III | Real Estate | Asset Management and Strategic Holdings | Weighted Average | Weight Ascribed to Direct Income Capitalization
Level III Assets
Real assets, measurement input	0.086
Level III | Real Estate | Asset Management and Strategic Holdings | Weighted Average | Current Capitalization Rate
Level III Assets
Real assets, measurement input	0.054
Level III | Real Estate | Asset Management and Strategic Holdings | Weighted Average | Exit Capitalization Rate
Level III Assets
Real assets, measurement input	0.056
Level III | Real Estate | Asset Management and Strategic Holdings | Weighted Average | Discount Rate
Level III Assets
Real assets, measurement input	0.073
Level III | Real Estate | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Real assets, measurement input	0
Level III | Real Estate | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Transaction Price
Level III Assets
Real assets, measurement input	0
Level III | Real Estate | Asset Management and Strategic Holdings | Minimum | Weight Ascribed to Direct Income Capitalization
Level III Assets
Real assets, measurement input	0
Level III | Real Estate | Asset Management and Strategic Holdings | Minimum | Current Capitalization Rate
Level III Assets
Real assets, measurement input	0.018
Level III | Real Estate | Asset Management and Strategic Holdings | Minimum | Exit Capitalization Rate
Level III Assets
Real assets, measurement input	0.031
Level III | Real Estate | Asset Management and Strategic Holdings | Minimum | Discount Rate
Level III Assets
Real assets, measurement input	0.028
Level III | Real Estate | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Discounted Cash Flow
Level III Assets
Real assets, measurement input	1
Level III | Real Estate | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Transaction Price
Level III Assets
Real assets, measurement input	1
Level III | Real Estate | Asset Management and Strategic Holdings | Maximum | Weight Ascribed to Direct Income Capitalization
Level III Assets
Real assets, measurement input	1
Level III | Real Estate | Asset Management and Strategic Holdings | Maximum | Current Capitalization Rate
Level III Assets
Real assets, measurement input	0.075
Level III | Real Estate | Asset Management and Strategic Holdings | Maximum | Exit Capitalization Rate
Level III Assets
Real assets, measurement input	0.090
Level III | Real Estate | Asset Management and Strategic Holdings | Maximum | Discount Rate
Level III Assets
Real assets, measurement input	0.110
Level III | Real Estate | Insurance
Level III Assets
Real Assets	$ 8,121,139,000
Level III | AFS Corporate Securities | Insurance
Level III Assets
Securities, fair value	$ 10,676,454,000
Level III | AFS Corporate Securities | Insurance | Weighted Average | Discount Spread
Level III Assets
Securities, measurement input	0.022
Level III | AFS Corporate Securities | Insurance | Minimum | Discount Spread
Level III Assets
Securities, measurement input	0.002
Level III | AFS Corporate Securities | Insurance | Maximum | Discount Spread
Level III Assets
Securities, measurement input	0.050
Level III | Structured Securities | Insurance
Level III Assets
Securities, fair value	$ 3,067,847,000
Level III | Structured Securities | Insurance | Weighted Average | Discount Spread
Level III Assets
Securities, measurement input	0.023
Level III | Structured Securities | Insurance | Weighted Average | Constant Prepayment Rate
Level III Assets
Securities, measurement input	0.136
Level III | Structured Securities | Insurance | Weighted Average | Constant Default Rate
Level III Assets
Securities, measurement input	0.003
Level III | Structured Securities | Insurance | Weighted Average | Loss Severity
Level III Assets
Securities, measurement input	0.094
Level III | Structured Securities | Insurance | Minimum | Discount Spread
Level III Assets
Securities, measurement input	0.013
Level III | Structured Securities | Insurance | Minimum | Constant Prepayment Rate
Level III Assets
Securities, measurement input	0.100
Level III | Structured Securities | Insurance | Minimum | Constant Default Rate
Level III Assets
Securities, measurement input	0
Level III | Structured Securities | Insurance | Minimum | Loss Severity
Level III Assets
Securities, measurement input	0
Level III | Structured Securities | Insurance | Maximum | Discount Spread
Level III Assets
Securities, measurement input	0.044
Level III | Structured Securities | Insurance | Maximum | Constant Prepayment Rate
Level III Assets
Securities, measurement input	0.150
Level III | Structured Securities | Insurance | Maximum | Constant Default Rate
Level III Assets
Securities, measurement input	0.030
Level III | Structured Securities | Insurance | Maximum | Loss Severity
Level III Assets
Securities, measurement input	0.950

FAIR VALUE MEASUREMENTS - Instr

FAIR VALUE MEASUREMENTS - Instruments Not Carried At Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial Liabilities:
Securities Sold Under Agreements to Repurchase	$ 271,127	$ 1,413,068
Insurance
Financial Assets:
Cash and Cash Equivalents	6,343,445	11,954,675	$ 6,118,231	$ 3,391,934
Restricted Cash and Cash Equivalents	350,512	342,954	$ 308,383	$ 300,404
Financial Liabilities:
Funds Withheld Payable at Interest	1,159,146	1,423,242
Securities Sold Under Agreements to Repurchase	261,396	1,358,434
Insurance | Level III
Financial Liabilities:
Policy Liabilities – Policyholder Account Balances	1,279,794
Insurance | Carrying Value
Financial Assets:
Mortgage and Other Loan Receivables	51,139,968	38,480,525
Policy Loans	1,622,958	1,556,030
FHLB Common Stock and Other Investments	166,919	173,148
Funds Withheld Receivables at Interest	2,411,971	2,624,984
Cash and Cash Equivalents	6,343,445	11,954,675
Restricted Cash and Cash Equivalents	350,512	342,954
Total Financial Assets	62,035,773	55,132,316
Financial Liabilities:
Policy Liabilities – Policyholder Account Balances	59,880,083	53,821,432
Funds Withheld Payable at Interest	46,759,454	36,786,825
Debt Obligations	3,713,336	2,587,857
Securities Sold Under Agreements to Repurchase	261,396	1,358,434
Total Financial Liabilities	110,614,269	94,554,548
Insurance | Fair Value
Financial Assets:
Mortgage and Other Loan Receivables	49,542,913	35,539,059
Policy Loans	1,557,776	1,341,005
FHLB Common Stock and Other Investments	166,919	173,148
Funds Withheld Receivables at Interest	2,411,971	2,624,984
Cash and Cash Equivalents	6,343,445	11,954,675
Restricted Cash and Cash Equivalents	350,512	342,954
Total Financial Assets	60,373,536	51,975,825
Financial Liabilities:
Policy Liabilities – Policyholder Account Balances	59,003,586	52,362,414
Funds Withheld Payable at Interest	46,759,454	36,786,825
Debt Obligations	3,682,060	2,396,587
Securities Sold Under Agreements to Repurchase	261,396	1,358,434
Total Financial Liabilities	109,706,496	92,904,260
Insurance | Fair Value | Level I
Financial Assets:
Mortgage and Other Loan Receivables	0	0
Policy Loans	0	0
FHLB Common Stock and Other Investments	0	0
Funds Withheld Receivables at Interest	0	0
Cash and Cash Equivalents	6,343,445	11,954,675
Restricted Cash and Cash Equivalents	350,512	342,954
Total Financial Assets	6,693,957	12,297,629
Financial Liabilities:
Policy Liabilities – Policyholder Account Balances	0	0
Funds Withheld Payable at Interest	0	0
Debt Obligations	0	0
Securities Sold Under Agreements to Repurchase	0	0
Total Financial Liabilities	0	0
Insurance | Fair Value | Level II
Financial Assets:
Mortgage and Other Loan Receivables	0	0
Policy Loans	0	0
FHLB Common Stock and Other Investments	0	0
Funds Withheld Receivables at Interest	2,411,971	2,624,984
Cash and Cash Equivalents	0	0
Restricted Cash and Cash Equivalents	0	0
Total Financial Assets	2,411,971	2,624,984
Financial Liabilities:
Policy Liabilities – Policyholder Account Balances	51,914,709	45,395,423
Funds Withheld Payable at Interest	46,759,454	36,786,825
Debt Obligations	0	0
Securities Sold Under Agreements to Repurchase	261,396	1,358,434
Total Financial Liabilities	98,935,559	83,540,682
Insurance | Fair Value | Level III
Financial Assets:
Mortgage and Other Loan Receivables	49,542,913	35,539,059
Policy Loans	1,557,776	1,341,005
FHLB Common Stock and Other Investments	166,919	173,148
Funds Withheld Receivables at Interest	0	0
Cash and Cash Equivalents	0	0
Restricted Cash and Cash Equivalents	0	0
Total Financial Assets	51,267,608	37,053,212
Financial Liabilities:
Policy Liabilities – Policyholder Account Balances	7,088,877	6,966,991
Funds Withheld Payable at Interest	0	0
Debt Obligations	3,682,060	2,396,587
Securities Sold Under Agreements to Repurchase	0	0
Total Financial Liabilities	$ 10,770,937	$ 9,363,578

FAIR VALUE OPTION - Financial I

FAIR VALUE OPTION - Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	$ 33,969,566	$ 30,326,496
Liabilities	28,416,687	26,598,959
Asset Management and Strategic Holdings
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	30,798,122	28,470,182
Liabilities	27,150,809	25,276,404
Insurance
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	3,171,444	1,856,314
Liabilities	1,265,878	1,322,555
Credit | Asset Management and Strategic Holdings
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	1,310,984	976,978
Investments of Consolidated CFEs | Asset Management and Strategic Holdings
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	27,488,538	24,996,298
Real Assets | Asset Management and Strategic Holdings
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	55,087	59,721
Real Assets | Insurance
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	471,498	169,407
Equity Method - Other | Asset Management and Strategic Holdings
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	1,832,534	2,283,588
Other Investments | Asset Management and Strategic Holdings
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	110,979	153,597
Other Investments | Insurance
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	47,944	63,470
Fixed Maturity Securities | Insurance
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	100,162	0
Mortgage and Other Loan Receivables | Insurance
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	1,611,109	697,402
Reinsurance Recoverable | Insurance
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	940,731	926,035
Debt Obligations of Consolidated CFEs | Asset Management and Strategic Holdings
Fair Value, Option, Quantitative Disclosures [Line Items]
Liabilities	27,150,809	25,276,404
Policy Liabilities | Insurance
Fair Value, Option, Quantitative Disclosures [Line Items]
Liabilities	$ 1,265,878	$ 1,322,555

FAIR VALUE OPTION - Change in F

FAIR VALUE OPTION - Change in Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Net Realized Gains (Losses)	$ (38,900)	$ 34,123	$ (181,243)
Net Unrealized Gains (Losses)	(76,071)	1,024,111	(1,582,835)
Total	(114,971)	1,058,234	(1,764,078)
Liabilities
Net Realized Gains (Losses)	(10,387)	(1,212)	(785)
Net Unrealized Gains (Losses)	25,720	(952,870)	1,313,200
Total	15,333	(954,082)	1,312,415
Asset Management and Strategic Holdings
Assets
Net Realized Gains (Losses)	(38,900)	34,123	(181,243)
Net Unrealized Gains (Losses)	(90,187)	1,090,867	(1,639,375)
Total	(129,087)	1,124,990	(1,820,618)
Liabilities
Net Realized Gains (Losses)	(10,387)	(1,212)	(785)
Net Unrealized Gains (Losses)	(58,952)	(1,015,491)	1,175,161
Total	(69,339)	(1,016,703)	1,174,376
Insurance
Assets
Net Realized Gains (Losses)	0	0	0
Net Unrealized Gains (Losses)	14,116	(66,756)	56,540
Total	14,116	(66,756)	56,540
Liabilities
Net Realized Gains (Losses)	0	0	0
Net Unrealized Gains (Losses)	84,672	62,621	138,039
Total	84,672	62,621	138,039
Credit | Asset Management and Strategic Holdings
Assets
Net Realized Gains (Losses)	(30,456)	(85,682)	(103,860)
Net Unrealized Gains (Losses)	5,968	66,109	(9,326)
Total	(24,488)	(19,573)	(113,186)
Investments of Consolidated CFEs | Asset Management and Strategic Holdings
Assets
Net Realized Gains (Losses)	(61,580)	(104,196)	(69,234)
Net Unrealized Gains (Losses)	84,799	1,019,063	(1,437,482)
Total	23,219	914,867	(1,506,716)
Real Assets | Asset Management and Strategic Holdings
Assets
Net Realized Gains (Losses)	0	51,637	85
Net Unrealized Gains (Losses)	(4,634)	(54,697)	19,295
Total	(4,634)	(3,060)	19,380
Real Assets | Insurance
Assets
Net Realized Gains (Losses)	0	0	0
Net Unrealized Gains (Losses)	(13,543)	(52,291)	122,082
Total	(13,543)	(52,291)	122,082
Equity Method - Other | Asset Management and Strategic Holdings
Assets
Net Realized Gains (Losses)	52,204	170,909	(14,891)
Net Unrealized Gains (Losses)	(176,599)	61,205	(201,935)
Total	(124,395)	232,114	(216,826)
Mortgage and Other Loan Receivables | Insurance
Assets
Net Realized Gains (Losses)	0	0	0
Net Unrealized Gains (Losses)	42,778	(1,342)	(96,569)
Total	42,778	(1,342)	(96,569)
Other Investments | Asset Management and Strategic Holdings
Assets
Net Realized Gains (Losses)	932	1,455	6,657
Net Unrealized Gains (Losses)	279	(813)	(9,927)
Total	1,211	642	(3,270)
Other Investments | Insurance
Assets
Net Realized Gains (Losses)	0	0	0
Net Unrealized Gains (Losses)	(15,119)	(13,123)	31,027
Total	(15,119)	(13,123)	31,027
Debt Obligations of Consolidated CFEs | Asset Management and Strategic Holdings
Liabilities
Net Realized Gains (Losses)	(10,387)	(1,212)	(785)
Net Unrealized Gains (Losses)	(58,952)	(1,015,491)	1,175,161
Total	(69,339)	(1,016,703)	1,174,376
Policy Liabilities | Insurance
Liabilities
Net Realized Gains (Losses)	0	0	0
Net Unrealized Gains (Losses)	84,672	62,621	138,039
Total	$ 84,672	$ 62,621	$ 138,039

INSURANCE INTANGIBLES, UNEARN_3

INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS - Reconciliation of Insurance Intangibles (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Present Value of Future Insurance Profit [Line Items]
Deferred Acquisition Costs, or "DAC"	$ 1,731,076	$ 1,154,697	$ 820,970	$ 397,581
Value of Business Acquired	1,165,193	1,252,984	$ 1,316,529	$ 1,417,968
Insurance
Present Value of Future Insurance Profit [Line Items]
Deferred Acquisition Costs, or "DAC"	1,731,076	1,154,697
Value of Business Acquired	1,165,193	1,252,984
Cost-of-Reinsurance Intangibles	2,302,674	2,043,143
Total Insurance Intangibles	$ 5,198,943	$ 4,450,824

INSURANCE INTANGIBLES, UNEARN_4

INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS - Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, as of the Beginning of the Period	$ 1,154,697	$ 820,970	$ 397,581
Capitalizations	811,718	484,162	502,908
Amortization Expense	(235,339)	(150,435)	(79,519)
Balance, as of the End of the Period	1,731,076	1,154,697	820,970
Fixed Rate Annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, as of the Beginning of the Period	373,863	221,679	107,104
Capitalizations	197,662	218,243	144,635
Amortization Expense	(108,132)	(66,059)	(30,060)
Balance, as of the End of the Period	463,393	373,863	221,679
Fixed Indexed Annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, as of the Beginning of the Period	481,970	367,813	179,449
Capitalizations	404,165	175,869	220,866
Amortization Expense	(98,550)	(61,712)	(32,502)
Balance, as of the End of the Period	787,585	481,970	367,813
Interest Sensitive Life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, as of the Beginning of the Period	132,079	116,021	54,298
Capitalizations	7,640	23,592	67,892
Amortization Expense	(8,576)	(7,534)	(6,169)
Balance, as of the End of the Period	131,143	132,079	116,021
Other
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, as of the Beginning of the Period	166,785	115,457	56,730
Capitalizations	202,251	66,458	69,515
Amortization Expense	(20,081)	(15,130)	(10,788)
Balance, as of the End of the Period	$ 348,955	$ 166,785	$ 115,457

INSURANCE INTANGIBLES, UNEARN_5

INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS - Value of Business Acquired Asset (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance, as of the Beginning of the Period	$ 1,252,984	$ 1,316,529	$ 1,417,968
Amortization Expense	(87,791)	(63,545)	(101,439)
Balance, as of the End of the Period	1,165,193	1,252,984	1,316,529
Fixed Rate Annuities
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance, as of the Beginning of the Period	44,922	48,762	52,723
Amortization Expense	(3,687)	(3,840)	(3,961)
Balance, as of the End of the Period	41,235	44,922	48,762
Fixed Indexed Annuities
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance, as of the Beginning of the Period	621,372	663,296	709,271
Amortization Expense	(43,210)	(41,924)	(45,975)
Balance, as of the End of the Period	578,162	621,372	663,296
Interest Sensitive Life
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance, as of the Beginning of the Period	262,942	276,795	292,323
Amortization Expense	(13,530)	(13,853)	(15,528)
Balance, as of the End of the Period	249,412	262,942	276,795
Variable Annuities
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance, as of the Beginning of the Period	245,042	241,778	269,172
Amortization Expense	(20,695)	3,264	(27,394)
Balance, as of the End of the Period	224,347	245,042	241,778
Other
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance, as of the Beginning of the Period	78,706	85,898	94,479
Amortization Expense	(6,669)	(7,192)	(8,581)
Balance, as of the End of the Period	$ 72,037	$ 78,706	$ 85,898

INSURANCE INTANGIBLES, UNEARN_6

INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS - Value of Business Acquired Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movement In Value Of Business Acquired Liability [Roll Forward]
Balance, as of the Beginning of the Period	$ 867,932	$ 1,004,124	$ 1,142,277
Amortization Expense	(101,624)	(136,192)	(138,153)
Balance, as of the End of the Period	766,308	867,932	1,004,124
Fixed Rate Annuities
Movement In Value Of Business Acquired Liability [Roll Forward]
Balance, as of the Beginning of the Period	65,966	98,342	136,227
Amortization Expense	(21,534)	(32,376)	(37,885)
Balance, as of the End of the Period	44,432	65,966	98,342
Fixed Indexed Annuities
Movement In Value Of Business Acquired Liability [Roll Forward]
Balance, as of the Beginning of the Period	106,538	145,610	184,664
Amortization Expense	(31,283)	(39,072)	(39,054)
Balance, as of the End of the Period	75,255	106,538	145,610
Interest Sensitive Life
Movement In Value Of Business Acquired Liability [Roll Forward]
Balance, as of the Beginning of the Period	421,213	461,592	500,264
Amortization Expense	(29,397)	(40,379)	(38,672)
Balance, as of the End of the Period	391,816	421,213	461,592
Variable Annuities
Movement In Value Of Business Acquired Liability [Roll Forward]
Balance, as of the Beginning of the Period	91,295	99,776	109,826
Amortization Expense	(6,113)	(8,481)	(10,050)
Balance, as of the End of the Period	85,182	91,295	99,776
Other
Movement In Value Of Business Acquired Liability [Roll Forward]
Balance, as of the Beginning of the Period	182,920	198,804	211,296
Amortization Expense	(13,297)	(15,884)	(12,492)
Balance, as of the End of the Period	$ 169,623	$ 182,920	$ 198,804

INSURANCE INTANGIBLES, UNEARN_7

INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS - Estimated Future Amortization of VOBA (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
VOBA
2025	$ 84,071
2026	78,852
2027	73,940
2028	69,456
2029	65,376
Thereafter	793,498
Total	1,165,193	$ 1,252,984	$ 1,316,529	$ 1,417,968
Negative VOBA
2025	(86,456)
2026	(70,146)
2027	(59,329)
2028	(51,274)
2029	(45,433)
Thereafter	(453,670)
Total	(766,308)
Total, net
2025	(2,385)
2026	8,706
2027	14,611
2028	18,182
2029	19,943
Thereafter	339,828
Total	$ 398,885

INSURANCE INTANGIBLES, UNEARN_8

INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS - Unearned Revenue Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance, as of the Beginning of the Period	$ 235,100
Balance, as of the End of the Period	303,800	$ 235,100
Certain Universal Life Insurance Products And Preneed Contracts
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance, as of the Beginning of the Period	178,053	118,186	$ 55,510
Deferral	69,303	71,798	69,548
Amortized to Income during the Period	(16,566)	(11,931)	(6,872)
Balance, as of the End of the Period	$ 230,790	$ 178,053	$ 118,186

INSURANCE INTANGIBLES, UNEARN_9

INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Insurance [Abstract]
Amortization expense, assumption change	$ 4.4

REINSURANCE - Effects of Reinsu

REINSURANCE - Effects of Reinsurance Agreements (Details) - Insurance - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Policy Liabilities:
Direct	$ 84,062,566	$ 75,715,857
Assumed	101,142,800	84,342,414
Total Policy Liabilities	185,205,366	160,058,271
Ceded	(45,006,124)	(35,773,958)
Net Policy Liabilities	$ 140,199,242	$ 124,284,313

REINSURANCE - Credit Quality In

REINSURANCE - Credit Quality Indicator (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	$ 47,808,483	$ 39,343,524
Credit Enhancements	43,961,910	34,025,326
Net Reinsurance Credit Exposure	4,351,365	5,318,426
Credit loss allowance	16,400	21,000
A++
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	26,854	38,857
Credit Enhancements	0	0
Net Reinsurance Credit Exposure	26,854	38,857
A+
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	1,731,697	1,801,954
Credit Enhancements	0	0
Net Reinsurance Credit Exposure	1,731,697	1,801,954
A
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	2,143,893	2,212,800
Credit Enhancements	0	0
Net Reinsurance Credit Exposure	2,143,893	2,212,800
A-
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	3,926,161	4,430,484
Credit Enhancements	3,477,840	3,814,976
Net Reinsurance Credit Exposure	448,321	615,508
B++
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	600	589
Credit Enhancements	0	0
Net Reinsurance Credit Exposure	600	589
B+
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	0	0
Credit Enhancements	0	0
Net Reinsurance Credit Exposure	0	0
B
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	0	0
Credit Enhancements	0	0
Net Reinsurance Credit Exposure	0	0
B-
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	0	0
Credit Enhancements	0	0
Net Reinsurance Credit Exposure	0	0
C++/C+
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	(231)	(228)
Credit Enhancements	0	0
Net Reinsurance Credit Exposure	0	0
Not Rated or Private Rating
Ceded Credit Risk [Line Items]
Reinsurance Recoverable and Funds Withheld Receivable at Interest	39,979,509	30,859,068
Credit Enhancements	40,484,070	30,210,350
Net Reinsurance Credit Exposure	0	648,718
Net reinsurance credit exposure associated with cessions to co-investment vehicles	$ 40,000,000	$ 30,800,000

REINSURANCE - Narrative (Detail

REINSURANCE - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($) counterparty	Dec. 31, 2023 USD ($) counterparty
Effects of Reinsurance [Line Items]
Funds withheld receivable at interest	$ 2,500	$ 2,700
Number of counterparties | counterparty	6	6
Collateral held on behalf of reinsurers	$ 46,600	$ 36,700
Collateral held on our behalf by reinsurers	1,100	1,200
Reinsurer collateral, minimum amount held by trusts	100,200	81,800
Reinsurer collateral, reserves supported by trust assets	96,900	79,400
Cash Held In Trust
Effects of Reinsurance [Line Items]
Restricted cash	$ 185.8	$ 90.8

REINSURANCE - Effects of Rein_2

REINSURANCE - Effects of Reinsurance on Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Premiums:
Direct	$ 642,803	$ 118,535	$ 111,602
Assumed	11,915,597	4,138,758	2,413,234
Ceded	(4,659,566)	(2,281,618)	(1,342,375)
Net Premiums	7,898,834	1,975,675	1,182,461
Policy Fees:
Direct	917,684	912,931	950,702
Assumed	1,111,998	442,085	328,528
Ceded	(651,996)	(94,767)	(17,509)
Net Policy Fees	1,377,686	1,260,249	1,261,721
Net Policy Benefits and Claims:
Direct	4,047,792	3,406,055	812,961
Assumed	15,949,420	5,922,927	3,255,354
Ceded	(6,703,930)	(2,966,725)	(1,710,077)
Net Policy Benefits and Claims	$ 13,293,282	$ 6,362,257	$ 2,358,238

NET INCOME (LOSS) ATTRIBUTABL_3

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. INC. PER SHARE OF COMMON STOCK - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. INC. PER SHARE OF COMMON STOCK
Net Income (Loss) Available to KKR & Co. Inc. Common Stockholders - Basic	$ 3,076,245	$ 3,680,514	$ (590,664)
Net Income (Loss) Available to KKR & Co. Inc. Common Stockholders - Diluted	3,076,245	3,732,261	(590,664)
Series C Mandatory Convertible Preferred Stock Dividends
NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. INC. PER SHARE OF COMMON STOCK
Series C Mandatory Convertible Preferred Dividend (if dilutive)	$ 0	$ 51,747	$ 0
Incremental Common Shares:
Assumed conversion of Series C Mandatory Convertible Preferred Stock (in shares)	0	18,995,662	0
Common Stock
Basic Net Income (Loss) Per Share of Common Stock
Weighted Average Shares of Common Stock Outstanding - Basic (in shares)	887,021,433	867,496,813	749,504,970
Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock - Basic (in dollars per share)	$ 3.47	$ 4.24	$ (0.79)
Diluted Net Income (Loss) Per Share of Common Stock
Weighted Average Shares of Common Stock Outstanding - Basic (in shares)	887,021,433	867,496,813	749,504,970
Incremental Common Shares:
Assumed vesting of dilutive equity awards (in shares)	51,883,167	25,294,958	0
Weighted Average Shares of Common Stock Outstanding - Diluted (in shares)	938,904,600	911,787,433	749,504,970
Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock - Diluted (in dollars per share)	$ 3.28	$ 4.09	$ (0.79)

NET INCOME (LOSS) ATTRIBUTABL_4

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. INC. PER SHARE OF COMMON STOCK - Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Vested Restricted Holdings Units (in shares)	6,828,095	3,675,345	109,268,211
KKR Holdings Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Vested Restricted Holdings Units (in shares)	0	0	107,018,025
Restricted Holding Units (RHUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Vested Restricted Holdings Units (in shares)	6,828,095	3,675,345	2,250,186

NET INCOME (LOSS) ATTRIBUTABL_5

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. INC. PER SHARE OF COMMON STOCK - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock excluded from earnings per share calculation (in shares)	6,828,095	3,675,345	109,268,211
Common Stock | Market Condition Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock excluded from earnings per share calculation (in shares)	19,400,000	25,700,000	17,500,000

OTHER ASSETS AND ACCRUED EXPE_3

OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES - Other Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Market Risk Benefit Asset	$ 2,319	$ 17
Total Other Assets	11,826,990	9,858,930
KJR Management | Goodwill
Segment Reporting, Asset Reconciling Item [Line Items]
Cumulative foreign currency translation adjustments included in AOCI	(82,900)
KJR Management | Finite-Lived Intangible Assets
Segment Reporting, Asset Reconciling Item [Line Items]
Cumulative foreign currency translation adjustments included in AOCI	(282,700)
Asset Management and Strategic Holdings
Segment Reporting, Asset Reconciling Item [Line Items]
Unsettled Investment Sales and Derivative Collateral Receivables	293,379	271,544
Receivables	259,644	55,602
Due from Broker	97,524	76,075
Deferred Tax Assets, net	50,627	48,580
Interest Receivable	264,680	351,999
Fixed Assets, net	902,896	863,096
Foreign Exchange Contracts and Options	511,513	264,621
Goodwill	509,561	558,279
Intangible Assets	1,457,871	1,624,648
Derivative Assets	8,444	4,792
Prepaid Taxes	167,751	211,966
Prepaid Expenses	$ 57,629	$ 56,828
Operating lease, right-of-use asset, statement of financial position	Total Other Assets	Total Other Assets
Operating Lease Right of Use Assets	$ 701,274	$ 358,684
Deferred Financing Costs	19,594	19,213
Other	231,899	209,296
Total Other Assets	5,534,286	4,975,223
Accumulated depreciation and amortization of fixed assets	326,000	257,400
Depreciation and amortization expense of fixed assets	71,600	68,400	$ 54,600
Operating lease cost	89,700	67,800	54,200
Insurance
Segment Reporting, Asset Reconciling Item [Line Items]
Unsettled Investment Sales and Derivative Collateral Receivables	141,532	27,562
Deferred Tax Assets, net	2,788,672	2,273,757
Goodwill	509,972	501,496
Derivative Assets	61,351	45,694
Accrued Investment Income	1,475,704	1,220,781
Prepaid Taxes	273,197	42,294
Intangible Assets and Deferred Sales Inducements	$ 343,657	$ 258,529
Operating lease, right-of-use asset, statement of financial position	Total Other Assets	Total Other Assets
Operating Lease Right of Use Assets	$ 165,204	$ 172,955
Deferred Financing Costs	(57,900)	(36,500)
Premiums and Other Account Receivables	254,992	188,136
Other	276,104	152,486
Market Risk Benefit Asset	2,319	17
Total Other Assets	6,292,704	4,883,707
Operating lease cost	$ 20,900	21,900	25,000
Definite lived intangible assets, useful life	11 years 8 months 12 days
Amortization of Intangibles	$ 19,100	$ 17,600	$ 17,600

OTHER ASSETS AND ACCRUED EXPE_4

OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES - Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Securities Sold Under Agreements to Repurchase	$ 271,127	$ 1,413,068
Total Accrued Expenses and Other Liabilities	13,635,465	10,974,421
Asset Management and Strategic Holdings
Lessee, Lease, Description [Line Items]
Amounts Payable to Carry Pool	4,170,773	2,664,694
Unsettled Investment Purchases and Derivative Collateral Liabilities	2,081,970	574,986
Securities Sold Short	109,168	149,136
Derivative Liabilities	0	2,382
Accrued Compensation and Benefits	130,717	210,625
Interest Payable	467,324	492,501
Foreign Exchange Contracts and Options	131,339	441,608
Accounts Payable and Accrued Expenses	425,731	221,851
Taxes Payable	91,398	39,255
Uncertain Tax Positions	42,054	23,579
Unfunded Revolver Commitments	$ 96,848	$ 94,683
Operating lease, liability, statement of financial position	Total Accrued Expenses and Other Liabilities	Total Accrued Expenses and Other Liabilities
Operating Lease Liabilities	$ 722,241	$ 360,852
Deferred Tax Liabilities, net	2,840,342	2,370,118
Other Liabilities	138,598	72,145
Total Accrued Expenses and Other Liabilities	$ 11,448,503	$ 7,718,415
Operating lease, weighted average remaining lease term	13 years 1 month 6 days	10 years 3 months 18 days
Operating lease, weighted average discount rate	3.70%	2.90%
Asset Management and Strategic Holdings | Minimum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	1 year
Operating lease, maximum extension term	2 years
Asset Management and Strategic Holdings | Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	16 years
Operating lease, maximum extension term	10 years
Insurance
Lessee, Lease, Description [Line Items]
Unsettled Investment Purchases and Derivative Collateral Liabilities	$ 347,121	$ 205,669
Derivative Liabilities	389,187	146,197
Interest Payable	$ 40,315	$ 15,894
Operating lease, liability, statement of financial position	Total Accrued Expenses and Other Liabilities	Total Accrued Expenses and Other Liabilities
Operating Lease Liabilities	$ 185,547	$ 193,566
Accrued Expenses	562,226	607,262
Insurance Operations Balances in Course of Settlement	190,775	250,367
Securities Sold Under Agreements to Repurchase	261,396	1,358,434
Accrued Employee Related Expenses	107,049	370,984
Tax Payable to Former Parent Company	49,477	62,545
Accounts and Commissions Payable	31,414	32,104
Other Tax Related Liabilities	22,455	12,984
Total Accrued Expenses and Other Liabilities	$ 2,186,962	$ 3,256,006
Operating lease, weighted average remaining lease term	7 years 4 months 24 days	7 years 7 months 6 days
Operating lease, weighted average discount rate	4.70%	4.40%
Operating lease, optional extension period	10 years
Insurance | Land
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term	42 years 9 months 18 days	43 years 8 months 12 days
Insurance | Minimum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	1 year
Insurance | Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	10 years
Asset Management and Insurance Segments
Lessee, Lease, Description [Line Items]
Right-of-use asset obtained in exchange for operating lease liability	$ 408,000	$ 32,500	$ 159,400

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($)
Variable Interest Entity [Line Items]
Unfunded commitments	$ 11,000
Investments in Unconsolidated Investment Funds | Asset Management and Strategic Holdings
Variable Interest Entity [Line Items]
Commitment to unconsolidated investment funds	3,600
Investments in Unconsolidated Investment Funds | Insurance
Variable Interest Entity [Line Items]
Unfunded commitments	$ 25.8

VARIABLE INTEREST ENTITIES - Ma

VARIABLE INTEREST ENTITIES - Maximum Exposure to Loss (Details) - Investments in Unconsolidated CLO Vehicles - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Total Maximum Exposure to Loss	$ 12,025,756	$ 9,200,593
Asset Management and Strategic Holdings
Variable Interest Entity [Line Items]
Investments	9,798,370	7,877,904
Due from (to) Affiliates, net	1,437,525	1,097,939
Total Maximum Exposure to Loss	11,235,895	8,975,843
Insurance
Variable Interest Entity [Line Items]
Real Assets	124,910	189,029
Other Investments	664,951	35,721
Total Maximum Exposure to Loss	$ 789,861	$ 224,750

DEBT OBLIGATIONS - Components o

DEBT OBLIGATIONS - Components of Debt Obligations (Details) - Asset Management and Strategic Holdings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Financing Available	$ 9,847,422	$ 9,605,184
Principal	46,273,689	45,414,041
Carrying Value	45,933,920	44,886,870
Fair  Value	44,801,440	43,681,627
Total KKR & KFN Notes
Debt Instrument [Line Items]
Principal	8,575,887	8,139,538
Carrying Value	8,438,596	7,978,871
Fair  Value	7,392,282	6,981,707
Revolving Credit Facility
Debt Instrument [Line Items]
Financing Available	4,218,753	2,986,492
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Financing Available	4,218,753	2,986,492
Under 1 Year | Revolving Credit Facility
Debt Instrument [Line Items]
Financing Available	750,000	750,000
1-5 Years | Revolving Credit Facility
Debt Instrument [Line Items]
Financing Available	3,468,753	2,236,492
After 5 Years | Revolving Credit Facility
Debt Instrument [Line Items]
Financing Available	0	0
KKR USD Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal	5,000,000	5,000,000
Carrying Value	4,913,548	4,890,919
Fair  Value	$ 4,145,659	$ 4,181,595
Weighted average interest rate (percentage)	4.23%	4.23%
Under 1 Year | Senior Notes
Debt Instrument [Line Items]
Principal	$ 0	$ 0
Carrying Value	0	0
Fair  Value	0	0
1-5 Years | Senior Notes
Debt Instrument [Line Items]
Principal	750,000	0
Carrying Value	746,000	0
Fair  Value	709,328	0
After 5 Years | Senior Notes
Debt Instrument [Line Items]
Principal	4,250,000	5,000,000
Carrying Value	4,167,548	4,890,919
Fair  Value	3,436,331	4,181,595
KKR Yen Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal	1,454,004	973,621
Carrying Value	1,443,747	966,033
Fair  Value	$ 1,425,441	$ 943,544
Weighted average interest rate (percentage)	1.67%	1.46%
Under 1 Year | Senior Notes
Debt Instrument [Line Items]
Principal	$ 31,788	$ 0
Carrying Value	31,762	0
Fair  Value	31,766	0
1-5 Years | Senior Notes
Debt Instrument [Line Items]
Principal	830,314	610,552
Carrying Value	826,986	608,047
Fair  Value	823,390	606,447
After 5 Years | Senior Notes
Debt Instrument [Line Items]
Principal	591,902	363,069
Carrying Value	584,999	357,986
Fair  Value	570,285	337,097
KKR Euro Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal	673,366	717,400
Carrying Value	669,325	712,331
Fair  Value	$ 634,836	$ 646,248
Weighted average interest rate (percentage)	1.63%	1.63%
Under 1 Year | Senior Notes
Debt Instrument [Line Items]
Principal	$ 0	$ 0
Carrying Value	0	0
Fair  Value	0	0
1-5 Years | Senior Notes
Debt Instrument [Line Items]
Principal	673,366	717,400
Carrying Value	669,325	712,331
Fair  Value	634,836	646,248
After 5 Years | Senior Notes
Debt Instrument [Line Items]
Principal	0	0
Carrying Value	0	0
Fair  Value	0	0
KKR Subordinated Notes | Subordinated Notes
Debt Instrument [Line Items]
Principal	500,000	500,000
Carrying Value	487,110	486,755
Fair  Value	$ 366,200	$ 377,400
Weighted average interest rate (percentage)	4.63%	4.63%
Under 1 Year | Subordinated Notes
Debt Instrument [Line Items]
Principal	$ 0	$ 0
Carrying Value	0	0
Fair  Value	0	0
1-5 Years | Subordinated Notes
Debt Instrument [Line Items]
Principal	0	0
Carrying Value	0	0
Fair  Value	0	0
After 5 Years | Subordinated Notes
Debt Instrument [Line Items]
Principal	500,000	500,000
Carrying Value	487,110	486,755
Fair  Value	366,200	377,400
KFN USD Senior Notes | Senior Notes | KFN
Debt Instrument [Line Items]
Principal	690,000	690,000
Carrying Value	684,730	684,032
Fair  Value	$ 608,237	$ 624,018
Weighted average interest rate (percentage)	5.44%	5.44%
Under 1 Year | Senior Notes | KFN
Debt Instrument [Line Items]
Principal	$ 0	$ 0
Carrying Value	0	0
Fair  Value	0	0
1-5 Years | Senior Notes | KFN
Debt Instrument [Line Items]
Principal	0	0
Carrying Value	0	0
Fair  Value	0	0
After 5 Years | Senior Notes | KFN
Debt Instrument [Line Items]
Principal	690,000	690,000
Carrying Value	684,730	684,032
Fair  Value	608,237	624,018
KFN Junior Subordinated Notes | Junior Subordinated Notes | KFN
Debt Instrument [Line Items]
Principal	258,517	258,517
Carrying Value	240,136	238,801
Fair  Value	$ 211,909	$ 208,902
Weighted average interest rate (percentage)	7.30%	8.10%
Weighted average remaining maturity (in years)	11 years 9 months 18 days	12 years 9 months 18 days
Under 1 Year | Junior Subordinated Notes | KFN
Debt Instrument [Line Items]
Principal	$ 0	$ 0
Carrying Value	0	0
Fair  Value	0	0
1-5 Years | Junior Subordinated Notes | KFN
Debt Instrument [Line Items]
Principal	0	0
Carrying Value	0	0
Fair  Value	0	0
After 5 Years | Junior Subordinated Notes | KFN
Debt Instrument [Line Items]
Principal	258,517	258,517
Carrying Value	240,136	238,801
Fair  Value	211,909	208,902
Other Debt Obligations
Debt Instrument [Line Items]
Financing Available	5,628,669	6,618,692
Principal	37,697,802	37,274,503
Carrying Value	37,495,324	36,907,999
Fair  Value	$ 37,409,158	$ 36,699,920

DEBT OBLIGATIONS - Third Amende

DEBT OBLIGATIONS - Third Amended and Restated Credit Agreement (Details) - Corporate Credit Agreement - Revolving Credit Facilities	Jul. 03, 2024 USD ($)
Debt Instrument [Line Items]
Covenant, leverage ratio, maximum	4
Covenant, fee paying assets under management, minimum amount	$ 150,000,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity	2,750,000,000
Line of credit facility, maximum borrowing capacity, increase limit	750,000,000
Line of credit facility, maximum borrowing capacity	$ 3,500,000,000
Debt instrument, term	5 years

DEBT OBLIGATIONS - KKR Group Fi

DEBT OBLIGATIONS - KKR Group Finance Co. XI LLC May 2024 Notes Offering (Details) - Senior Notes - KKR Group Finance Co. XI LLC	May 30, 2024 JPY (¥)
Senior Notes Due 2029
Debt Instrument [Line Items]
Aggregate principal amount	¥ 44,600,000,000
Interest rate, stated percentage	1.559%
Senior Notes Due 2031
Debt Instrument [Line Items]
Aggregate principal amount	¥ 1,000,000,000
Interest rate, stated percentage	1.762%
Senior Notes Due 2034
Debt Instrument [Line Items]
Aggregate principal amount	¥ 26,200,000,000
Interest rate, stated percentage	2.083%
Senior Notes Due 2044
Debt Instrument [Line Items]
Aggregate principal amount	¥ 10,000,000,000
Interest rate, stated percentage	2.719%
Senior Notes Due 2054
Debt Instrument [Line Items]
Aggregate principal amount	¥ 9,600,000,000
Interest rate, stated percentage	3.008%
Default percentage of aggregate principal amount of notes outstanding (not less than)	25%
Repurchase price in cash, percentage of aggregate principal amount	101%

DEBT OBLIGATIONS - KCM 364-Day

DEBT OBLIGATIONS - KCM 364-Day Revolving Credit Facility (Details) - Revolving Credit Facility - Asset Management and Strategic Holdings - USD ($)	Apr. 04, 2024	Apr. 07, 2023
KCM 364-Day Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term	364 days
Line of credit facility, maximum borrowing capacity	$ 750,000,000
KCM 364-Day Revolving Credit Facility | Sterling Overnight Interbank Average Rate (SONIA) | Revolving Credit Facilities | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
KCM 364-Day Revolving Credit Facility | Sterling Overnight Interbank Average Rate (SONIA) | Revolving Credit Facilities | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.75%
KCM 364-Day Revolving Credit Facility | Federal Funds Rate | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
KCM 364-Day Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
KCM 364-Day Revolving Credit Facility | Base Rate | Revolving Credit Facilities | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
KCM 364-Day Revolving Credit Facility | Base Rate | Revolving Credit Facilities | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
KCM Short-term Credit Agreement
Debt Instrument [Line Items]
Debt instrument, term		364 days
KCM Credit Facility
Debt Instrument [Line Items]
Debt instrument, term	5 years
Line of credit facility, maximum borrowing capacity	$ 750,000,000
KCM Credit Facility | Sterling Overnight Interbank Average Rate (SONIA) | Revolving Credit Facilities | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
KCM Credit Facility | Sterling Overnight Interbank Average Rate (SONIA) | Revolving Credit Facilities | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3%
KCM Credit Facility | Federal Funds Rate | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
KCM Credit Facility | Secured Overnight Financing Rate (SOFR) | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
KCM Credit Facility | Base Rate | Revolving Credit Facilities | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
KCM Credit Facility | Base Rate | Revolving Credit Facilities | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2%

DEBT OBLIGATIONS - KCM Credit F

DEBT OBLIGATIONS - KCM Credit Facility (Details) - KCM Credit Facility - Asset Management and Strategic Holdings	Apr. 04, 2024 USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term	5 years
Line of credit facility, maximum borrowing capacity	$ 750,000,000
Revolving Credit Facility | Sterling Overnight Interbank Average Rate (SONIA) | Revolving Credit Facilities | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Revolving Credit Facility | Sterling Overnight Interbank Average Rate (SONIA) | Revolving Credit Facilities | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3%
Revolving Credit Facility | Federal Funds Rate | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Revolving Credit Facility | Base Rate | Revolving Credit Facilities | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Revolving Credit Facility | Base Rate | Revolving Credit Facilities | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2%
Letter of Credit | Revolving Credit Facilities
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 750,000,000

DEBT OBLIGATIONS - Other Asset

DEBT OBLIGATIONS - Other Asset Management and Strategic Holdings Debt Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Assets	$ 360,099,411	$ 317,294,194
Consolidated VIEs
Debt Instrument [Line Items]
Assets	122,437,787	109,927,538
Consolidated VIEs | Consolidated CFEs
Debt Instrument [Line Items]
Assets	30,767,201	27,135,648
Asset Management and Strategic Holdings
Debt Instrument [Line Items]
Financing Available	9,847,422	9,605,184
Principal	46,273,689	45,414,041
Carrying Value	45,933,920	44,886,870
Fair  Value	44,801,440	43,681,627
Assets	122,517,378	113,567,367
Asset Management and Strategic Holdings | Consolidated VIEs
Debt Instrument [Line Items]
Carrying Value	34,705,866	33,830,853
Assets	93,170,646	86,096,876
Asset Management and Strategic Holdings | Consolidated VIEs | Consolidated CFEs
Debt Instrument [Line Items]
Carrying Value	27,150,809	25,276,404
Assets	30,767,201	27,135,648
Financing Facilities of Consolidated Funds and Other | Asset Management and Strategic Holdings
Debt Instrument [Line Items]
Financing Available	5,628,669
Principal	10,368,391
Carrying Value	10,344,515
Fair  Value	$ 10,258,349
Weighted Average Interest Rate	5.70%
Weighted Average Remaining Maturity in Years	4 years 4 months 24 days
Borrowings collateralized by fund investments	$ 2,800,000
Debt Obligations of Consolidated CFEs | Asset Management and Strategic Holdings | Consolidated CFE
Debt Instrument [Line Items]
Financing Available	0
Principal	27,329,411
Carrying Value	27,150,809
Fair  Value	$ 27,150,809
Weighted Average Interest Rate	6.10%
Weighted Average Remaining Maturity in Years	10 years 4 months 24 days
Other Debt Obligations | Asset Management and Strategic Holdings
Debt Instrument [Line Items]
Financing Available	$ 5,628,669	6,618,692
Principal	37,697,802	37,274,503
Carrying Value	37,495,324	36,907,999
Fair  Value	$ 37,409,158	$ 36,699,920

DEBT OBLIGATIONS - Global Atlan

DEBT OBLIGATIONS - Global Atlantic's Debt Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt
Debt Instrument [Line Items]
Cumulative amount of fair value hedging adjustments included in the carrying amount of hedged assets/(liabilities)	$ (233,202)	$ (165,817)
Insurance
Debt Instrument [Line Items]
Financing Available	1,269,600	800,000
Principal	3,970,400	2,750,000
Carrying Value	3,713,336	2,587,857
Fair  Value	3,939,124	2,558,730
Purchase accounting adjustments	34,100	40,200
Deferred Financing Costs	(57,900)	(36,500)
Amortization of purchase accounting adjustments	$ 6,100	$ 3,100	$ 7,800
Insurance | Senior Notes
Debt Instrument [Line Items]
Weighted Average Interest Rate	5.67%	5.22%
Insurance | Subordinated Notes
Debt Instrument [Line Items]
Weighted Average Interest Rate	6.14%	4.70%
Revolving Credit Facility | Insurance
Debt Instrument [Line Items]
Principal	$ 0	$ 200,000
Carrying Value	0	200,000
Fair  Value	0	200,000
Under 1 Year | Insurance
Debt Instrument [Line Items]
Principal	0	0
Carrying Value	0	0
Fair  Value	0	0
1-5 Years | Insurance
Debt Instrument [Line Items]
Principal	0	200,000
Carrying Value	0	200,000
Fair  Value	0	200,000
After 5 Years | Insurance
Debt Instrument [Line Items]
Principal	0	0
Carrying Value	0	0
Fair  Value	0	0
Senior Notes | Insurance | Senior Notes
Debt Instrument [Line Items]
Principal	2,550,000	1,800,000
Carrying Value	2,313,321	1,648,467
Fair  Value	2,514,755	1,715,155
Under 1 Year | Insurance | Senior Notes
Debt Instrument [Line Items]
Principal	0	0
Carrying Value	0	0
Fair  Value	0	0
1-5 Years | Insurance | Senior Notes
Debt Instrument [Line Items]
Principal	500,000	0
Carrying Value	459,138	0
Fair  Value	474,250	0
After 5 Years | Insurance | Senior Notes
Debt Instrument [Line Items]
Principal	2,050,000	1,800,000
Carrying Value	1,854,183	1,648,467
Fair  Value	2,040,505	1,715,155
Subordinated Notes | Insurance | Subordinated Notes
Debt Instrument [Line Items]
Principal	1,350,000	750,000
Carrying Value	1,329,615	739,390
Fair  Value	1,353,975	643,575
Under 1 Year | Insurance | Subordinated Notes
Debt Instrument [Line Items]
Principal	0	0
Carrying Value	0	0
Fair  Value	0	0
1-5 Years | Insurance | Subordinated Notes
Debt Instrument [Line Items]
Principal	0	0
Carrying Value	0	0
Fair  Value	0	0
After 5 Years | Insurance | Subordinated Notes
Debt Instrument [Line Items]
Principal	1,350,000	750,000
Carrying Value	1,329,615	739,390
Fair  Value	1,353,975	643,575
Debt Obligations of Consolidated Special Purpose Vehicles | Insurance
Debt Instrument [Line Items]
Financing Available	269,600	0
Principal	70,400	0
Carrying Value	70,400	0
Fair  Value	70,394	0
Revolving Credit Facility | Revolving Credit Facility | Insurance
Debt Instrument [Line Items]
Financing Available	1,000,000	800,000
Revolving Credit Facility | Under 1 Year | Insurance
Debt Instrument [Line Items]
Financing Available	0	0
Revolving Credit Facility | 1-5 Years | Insurance
Debt Instrument [Line Items]
Financing Available	1,000,000	800,000
Revolving Credit Facility | After 5 Years | Insurance
Debt Instrument [Line Items]
Financing Available	$ 0	$ 0

DEBT OBLIGATIONS - Senior Notes

DEBT OBLIGATIONS - Senior Notes (Details) - Senior Notes - Global Atlantic Senior Notes Due 2054 - Insurance	1 Months Ended
	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 750,000,000
Interest rate, stated percentage	6.75%
Redemption price percentage	100%

DEBT OBLIGATIONS - Subordinated

DEBT OBLIGATIONS - Subordinated Notes (Details) - Global Atlantic Subordinated Debentures Due 2054 - Subordinated Debt - Insurance - USD ($)		12 Months Ended
	Jun. 11, 2024	Dec. 31, 2024
Debt Instrument [Line Items]
Aggregate principal amount	$ 600,000,000
Interest rate, stated percentage	7.95%
Debt instrument, basis spread on variable rate		3.608%
Payment deferral term	5 years
Debt instrument, period before subsequent interest reset	3 months
Redemption Period One
Debt Instrument [Line Items]
Redemption price percentage	100%
Redemption Period Two
Debt Instrument [Line Items]
Redemption price percentage	100%
Redemption Period Three
Debt Instrument [Line Items]
Redemption price percentage	102%
Redemption Period Four
Debt Instrument [Line Items]
Redemption price percentage	100%

DEBT OBLIGATIONS - Global Atl_2

DEBT OBLIGATIONS - Global Atlantic Credit Agreement (Details) - Insurance - USD ($)		1 Months Ended
	May 31, 2024	Mar. 31, 2024
Global Atlantic Senior Notes Due 2054 | Senior Notes
Debt Instrument [Line Items]
Debt instrument repaid amount		$ 300,000,000
Revolving Credit Facility | Global Atlantic Credit Agreement | Revolving Credit Facilities
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000
Revolving Credit Facility | Global Atlantic Credit Agreement | Minimum | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.225%
Commitment fee percentage	0.125%
Revolving Credit Facility | Global Atlantic Credit Agreement | Maximum | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.975%
Commitment fee percentage	0.30%
Letter of Credit | Global Atlantic Credit Agreement | Revolving Credit Facilities
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 500,000,000

DEBT OBLIGATIONS - Debt Covenan

DEBT OBLIGATIONS - Debt Covenants (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Asset Management and Strategic Holdings
Debt Instrument [Line Items]
2025	$ 3,717,690
2026	496,776
2027	635,769
2028	898,715
2029	2,312,724
Thereafter	38,212,015
Debt outstanding, amount	46,273,689	$ 45,414,041
Insurance
Debt Instrument [Line Items]
2025	0
2026	0
2027	70,400
2028	0
2029	500,000
Thereafter	3,400,000
Debt outstanding, amount	3,970,400	$ 2,750,000
Revolving Credit Facilities | Asset Management and Strategic Holdings
Debt Instrument [Line Items]
2025	0
2026	0
2027	0
2028	0
2029	0
Thereafter	0
Debt outstanding, amount	0
Revolving Credit Facilities | Insurance
Debt Instrument [Line Items]
2025	0
2026	0
2027	0
2028	0
2029	0
Thereafter	0
Debt outstanding, amount	0
Notes Issued | Asset Management and Strategic Holdings
Debt Instrument [Line Items]
2025	31,788
2026	0
2027	231,420
2028	284,188
2029	1,738,072
Thereafter	6,290,419
Debt outstanding, amount	8,575,887
Notes Issued | Insurance
Debt Instrument [Line Items]
2025	0
2026	0
2027	0
2028	0
2029	500,000
Thereafter	3,400,000
Debt outstanding, amount	3,900,000
Other Debt Obligations | Asset Management and Strategic Holdings
Debt Instrument [Line Items]
2025	3,685,902
2026	496,776
2027	404,349
2028	614,527
2029	574,652
Thereafter	31,921,596
Debt outstanding, amount	37,697,802
Other Debt Obligations | Insurance
Debt Instrument [Line Items]
2025	0
2026	0
2027	70,400
2028	0
2029	0
Thereafter	0
Debt outstanding, amount	$ 70,400

POLICY LIABILITIES - Compositio

POLICY LIABILITIES - Composition of Policyholder Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Policyholders’ Account Balances	$ 137,881,796	$ 125,187,354	$ 112,281,236
Market Risk Benefit Liability	1,002,236	1,120,968
Embedded derivative	6,000,000	4,000,000
Cost-of-reinsurance liabilities	3,100,000	1,800,000
Liability for future policy benefits, fair value option	1,200,000	1,200,000
Present Value Of Future Insurance Profits, Liability	766,308	867,932	$ 1,004,124	$ 1,142,277
Policy liabilities, outstanding claims	303,800	235,100
Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Policyholders’ Account Balances	137,881,796	125,187,354
Liability for Future Policy Benefits	26,795,091	17,823,750
Additional Liability for Annuitization, Death, or Other Insurance Benefits	7,491,915	7,129,785
Market Risk Benefit Liability	1,002,236	1,120,968
Other Policy-related Liabilities	12,034,328	8,796,414
Total Policy Liabilities	$ 185,205,366	$ 160,058,271

POLICY LIABILITIES - Balance an

POLICY LIABILITIES - Balance and Changes In Policyholder Account Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Policyholder Account Balance [Roll Forward]
Beginning balance	$ 125,187,354	$ 112,281,236
Issuances and Premiums Received	30,527,877	28,505,999
Benefit Payments, Surrenders, and Withdrawals	(20,836,240)	(17,646,248)
Interest	4,422,965	3,044,011
Other Activity	(1,420,160)	(997,644)
Ending balance	137,881,796	125,187,354
Less: Reinsurance Recoverable	(25,776,633)	(23,682,714)
Balance as of End of Period, Net of Reinsurance Recoverable	$ 112,105,163	$ 101,504,640
Average Interest Rate	3.56%	2.94%
Net Amount at Risk, Gross of Reinsurance	$ 113,023,676	$ 137,009,339
Cash Surrender Value	102,783,602	91,841,712
Fixed Rate Annuities
Policyholder Account Balance [Roll Forward]
Beginning balance	56,762,736	48,510,703
Issuances and Premiums Received	16,453,922	16,604,445
Benefit Payments, Surrenders, and Withdrawals	(10,038,636)	(9,493,423)
Interest	2,305,618	1,483,545
Other Activity	(397,023)	(342,534)
Ending balance	65,086,617	56,762,736
Less: Reinsurance Recoverable	(11,664,932)	(10,279,657)
Balance as of End of Period, Net of Reinsurance Recoverable	$ 53,421,685	$ 46,483,079
Average Interest Rate	4.05%	3.36%
Net Amount at Risk, Gross of Reinsurance	$ 0	$ 0
Cash Surrender Value	50,421,300	43,590,426
Fixed Indexed Annuities
Policyholder Account Balance [Roll Forward]
Beginning balance	30,168,445	29,123,926
Issuances and Premiums Received	8,097,987	4,891,428
Benefit Payments, Surrenders, and Withdrawals	(5,211,414)	(4,234,383)
Interest	773,638	533,127
Other Activity	(110,321)	(145,653)
Ending balance	33,718,335	30,168,445
Less: Reinsurance Recoverable	(3,074,278)	(3,191,151)
Balance as of End of Period, Net of Reinsurance Recoverable	$ 30,644,057	$ 26,977,294
Average Interest Rate	2.74%	2.15%
Net Amount at Risk, Gross of Reinsurance	$ 0	$ 0
Cash Surrender Value	33,928,559	28,429,388
Interest Sensitive Life
Policyholder Account Balance [Roll Forward]
Beginning balance	21,969,053	17,397,185
Issuances and Premiums Received	1,991,442	5,824,786
Benefit Payments, Surrenders, and Withdrawals	(1,453,435)	(917,240)
Interest	723,201	497,919
Other Activity	(1,054,364)	(833,597)
Ending balance	22,175,897	21,969,053
Less: Reinsurance Recoverable	(7,504,951)	(7,190,573)
Balance as of End of Period, Net of Reinsurance Recoverable	$ 14,670,946	$ 14,778,480
Average Interest Rate	3.29%	3.28%
Net Amount at Risk, Gross of Reinsurance	$ 111,882,678	$ 135,840,650
Cash Surrender Value	13,974,862	15,161,982
Funding Agreements
Policyholder Account Balance [Roll Forward]
Beginning balance	7,015,998	7,535,489
Issuances and Premiums Received	2,372,925	510,000
Benefit Payments, Surrenders, and Withdrawals	(2,553,181)	(1,415,763)
Interest	277,270	226,394
Other Activity	45,091	159,878
Ending balance	7,158,103	7,015,998
Less: Reinsurance Recoverable	0	0
Balance as of End of Period, Net of Reinsurance Recoverable	$ 7,158,103	$ 7,015,998
Average Interest Rate	4.21%	3.12%
Net Amount at Risk, Gross of Reinsurance	$ 0	$ 0
Cash Surrender Value	0	0
Other
Policyholder Account Balance [Roll Forward]
Beginning balance	9,271,122	9,713,933
Issuances and Premiums Received	1,611,601	675,340
Benefit Payments, Surrenders, and Withdrawals	(1,579,574)	(1,585,439)
Interest	343,238	303,026
Other Activity	96,457	164,262
Ending balance	9,742,844	9,271,122
Less: Reinsurance Recoverable	(3,532,472)	(3,021,333)
Balance as of End of Period, Net of Reinsurance Recoverable	$ 6,210,372	$ 6,249,789
Average Interest Rate	3.31%	2.74%
Net Amount at Risk, Gross of Reinsurance	$ 1,140,998	$ 1,168,689
Cash Surrender Value	$ 4,458,881	$ 4,659,916

POLICY LIABILITIES - Guaranteed

POLICY LIABILITIES - Guaranteed Minimum Interest Rates (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 86,491,365	$ 77,504,527
Percentage of Total	100%	100%
Less Than 1.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 37,288,544	$ 32,879,615
Less Than 1.00% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	1%	1%
1.00% - 1.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 15,619,750	$ 12,056,909
1.00% - 1.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	1%	1%
1.00% - 1.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	1.99%	1.99%
2.00% - 2.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 5,231,309	$ 2,416,645
2.00% - 2.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	2%	2%
2.00% - 2.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	2.99%	2.99%
3.00% - 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 15,128,553	$ 16,116,007
3.00% - 4.00% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3%	3%
3.00% - 4.00% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	4%	4%
Greater Than 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 13,223,209	$ 14,035,351
Greater Than 4.00% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	4%	4%
At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 27,641,839	$ 29,664,383
Percentage of Total	32%	38%
At Guaranteed Minimum | Less Than 1.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 3,479,329	$ 2,706,701
At Guaranteed Minimum | 1.00% - 1.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	1,304,845	1,471,320
At Guaranteed Minimum | 2.00% - 2.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	769,182	896,276
At Guaranteed Minimum | 3.00% - 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	10,302,787	12,494,439
At Guaranteed Minimum | Greater Than 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	11,785,696	12,095,647
1 - 49 bps Above Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 3,784,630	$ 3,656,222
Percentage of Total	4%	5%
1 - 49 bps Above Guaranteed Minimum | Minimum
Policyholder Account Balance [Line Items]
Account values with adjustable crediting rates subject to guaranteed minimums (basis points)	0.0001	0.0001
1 - 49 bps Above Guaranteed Minimum | Maximum
Policyholder Account Balance [Line Items]
Account values with adjustable crediting rates subject to guaranteed minimums (basis points)	0.0049	0.0049
1 - 49 bps Above Guaranteed Minimum | Less Than 1.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 36,286	$ 25,839
1 - 49 bps Above Guaranteed Minimum | 1.00% - 1.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	738,935	1,013,423
1 - 49 bps Above Guaranteed Minimum | 2.00% - 2.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	36,663	44,850
1 - 49 bps Above Guaranteed Minimum | 3.00% - 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	1,619,059	1,186,572
1 - 49 bps Above Guaranteed Minimum | Greater Than 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	1,353,687	1,385,538
50 - 99 bps Above Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 1,771,204	$ 2,268,138
Percentage of Total	2%	3%
50 - 99 bps Above Guaranteed Minimum | Minimum
Policyholder Account Balance [Line Items]
Account values with adjustable crediting rates subject to guaranteed minimums (basis points)	0.0050	0.0050
50 - 99 bps Above Guaranteed Minimum | Maximum
Policyholder Account Balance [Line Items]
Account values with adjustable crediting rates subject to guaranteed minimums (basis points)	0.0099	0.0099
50 - 99 bps Above Guaranteed Minimum | Less Than 1.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 357,440	$ 660,189
50 - 99 bps Above Guaranteed Minimum | 1.00% - 1.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	805,357	999,852
50 - 99 bps Above Guaranteed Minimum | 2.00% - 2.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	56,798	55,874
50 - 99 bps Above Guaranteed Minimum | 3.00% - 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	474,803	414,111
50 - 99 bps Above Guaranteed Minimum | Greater Than 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	76,806	138,112
100 - 150 bps Above Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 4,566,020	$ 6,695,501
Percentage of Total	5%	9%
100 - 150 bps Above Guaranteed Minimum | Minimum
Policyholder Account Balance [Line Items]
Account values with adjustable crediting rates subject to guaranteed minimums (basis points)	0.0100	0.0100
100 - 150 bps Above Guaranteed Minimum | Maximum
Policyholder Account Balance [Line Items]
Account values with adjustable crediting rates subject to guaranteed minimums (basis points)	0.0150	0.0150
100 - 150 bps Above Guaranteed Minimum | Less Than 1.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 740,947	$ 3,546,450
100 - 150 bps Above Guaranteed Minimum | 1.00% - 1.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	1,867,453	1,968,519
100 - 150 bps Above Guaranteed Minimum | 2.00% - 2.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	697,085	109,411
100 - 150 bps Above Guaranteed Minimum | 3.00% - 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	1,253,515	953,560
100 - 150 bps Above Guaranteed Minimum | Greater Than 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	7,020	117,561
Greater Than 150 bps Above Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 48,727,672	$ 35,220,283
Percentage of Total	57%	45%
Greater Than 150 bps Above Guaranteed Minimum | Minimum
Policyholder Account Balance [Line Items]
Account values with adjustable crediting rates subject to guaranteed minimums (basis points)	0.0150	0.0150
Greater Than 150 bps Above Guaranteed Minimum | Less Than 1.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 32,674,542	$ 25,940,436
Greater Than 150 bps Above Guaranteed Minimum | 1.00% - 1.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	10,903,160	6,603,795
Greater Than 150 bps Above Guaranteed Minimum | 2.00% - 2.99%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	3,671,581	1,310,234
Greater Than 150 bps Above Guaranteed Minimum | 3.00% - 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	1,478,389	1,067,325
Greater Than 150 bps Above Guaranteed Minimum | Greater Than 4.00%
Policyholder Account Balance [Line Items]
Account values with adjustable credit rates subject to guaranteed minimum	$ 0	$ 298,493

POLICY LIABILITIES - Balances o

POLICY LIABILITIES - Balances of and Changes in Liability for Future Policy Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Present Value of Expected Future Policy Benefits
Liability for future policy benefit, reinsurance recoverable, after allowance, net of discount rate assumptions	$ (284,700)	$ 389,900
Payout Annuity And Long-Duration Insurance, Other
Present Value of Expected Net Premiums
Balance as of Beginning of Period	(208,370)	(255,401)
Balance at Original Discount Rate	(241,058)	(308,674)
Effect of Changes in Cash Flow Assumptions		0	$ 43,842
Effect of Actual Variances from Expected Experience		(99,920)	(4,839)
Adjusted Beginning of Period Balance		(340,978)	(269,671)
Issuances	(1,276,555)	0
Interest	(48,966)	(4,314)
Net Premiums Collected	221,836	32,927
Ending Balance at Original Discount Rate	(1,444,663)	(241,058)
Effect of Changes in Discount Rate Assumptions	45,452	32,688
Balance as of End of Period	(1,399,211)	(208,370)
Present Value of Expected Future Policy Benefits
Balance as of Beginning of Period	18,032,120	14,701,321
Balance at Original Discount Rate	20,741,655	18,139,653
Effect of Changes in Cash Flow Assumptions		(28,430)	(48,001)
Effect of Actual Variances from Expected Experience		(16,202)	42,635
Adjusted Beginning of Period Balance		20,697,023	18,134,287
Issuances	12,315,893	3,869,591
Interest	990,198	446,842
Benefit Payments	(2,550,089)	(1,709,065)
Ending Balance at Original Discount Rate	31,453,025	20,741,655
Effect of Changes in Discount Rate Assumptions	(3,258,723)	(2,709,535)
Balance as of End of Period	28,194,302	18,032,120
Total Policy Liabilities	26,795,091	17,823,750
Less: Reinsurance Recoverable	(15,718,695)	(9,273,553)
Net Liability for Future Policy Benefits, Net of Reinsurance Recoverables	11,076,396	8,550,197
Payout Annuities
Present Value of Expected Net Premiums
Balance as of Beginning of Period	0	0
Balance at Original Discount Rate	0	0
Effect of Changes in Cash Flow Assumptions		0	0
Effect of Actual Variances from Expected Experience		0	0
Adjusted Beginning of Period Balance		0	0
Issuances	0	0
Interest	0	0
Net Premiums Collected	0	0
Ending Balance at Original Discount Rate	0	0
Effect of Changes in Discount Rate Assumptions	0	0
Balance as of End of Period	0	0
Present Value of Expected Future Policy Benefits
Balance as of Beginning of Period	17,427,353	14,021,515
Balance at Original Discount Rate	20,040,000	17,321,203
Effect of Changes in Cash Flow Assumptions		(28,430)	(1,563)
Effect of Actual Variances from Expected Experience		18,093	29,339
Adjusted Beginning of Period Balance		20,029,663	17,348,979
Issuances	3,307,864	3,869,133
Interest	644,967	437,596
Benefit Payments	(1,866,380)	(1,615,708)
Ending Balance at Original Discount Rate	22,116,114	20,040,000
Effect of Changes in Discount Rate Assumptions	(3,048,636)	(2,612,647)
Balance as of End of Period	19,067,478	17,427,353
Total Policy Liabilities	19,067,478	17,427,353
Less: Reinsurance Recoverable	(9,579,679)	(9,270,511)
Net Liability for Future Policy Benefits, Net of Reinsurance Recoverables	9,487,799	8,156,842
Other
Present Value of Expected Net Premiums
Balance as of Beginning of Period	(208,370)	(255,401)
Balance at Original Discount Rate	(241,058)	(308,674)
Effect of Changes in Cash Flow Assumptions		0	43,842
Effect of Actual Variances from Expected Experience		(99,920)	(4,839)
Adjusted Beginning of Period Balance		(340,978)	(269,671)
Issuances	(1,276,555)	0
Interest	(48,966)	(4,314)
Net Premiums Collected	221,836	32,927
Ending Balance at Original Discount Rate	(1,444,663)	(241,058)
Effect of Changes in Discount Rate Assumptions	45,452	32,688
Balance as of End of Period	(1,399,211)	(208,370)
Present Value of Expected Future Policy Benefits
Balance as of Beginning of Period	604,767	679,806
Balance at Original Discount Rate	701,655	818,450
Effect of Changes in Cash Flow Assumptions		0	(46,438)
Effect of Actual Variances from Expected Experience		(34,295)	13,296
Adjusted Beginning of Period Balance		667,360	$ 785,308
Issuances	9,008,029	458
Interest	345,231	9,246
Benefit Payments	(683,709)	(93,357)
Ending Balance at Original Discount Rate	9,336,911	701,655
Effect of Changes in Discount Rate Assumptions	(210,087)	(96,888)
Balance as of End of Period	9,126,824	604,767
Total Policy Liabilities	7,727,613	396,397
Net Liability for Future Policy Benefits, Net of Reinsurance Recoverables	1,588,597	393,355
Other
Present Value of Expected Future Policy Benefits
Less: Reinsurance Recoverable	$ (6,139,016)	$ (3,042)

POLICY LIABILITIES - Amounts Re

POLICY LIABILITIES - Amounts Recognized in Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	$ 12,520,691	$ 4,207,780	$ 2,472,510
Payout Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	3,577,363	4,143,287	2,400,351
Other
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	$ 8,943,328	$ 64,493	$ 72,159

POLICY LIABILITIES - Weighted-A

POLICY LIABILITIES - Weighted-Average Interest Rates of Future Policy Benefits (Details)	Dec. 31, 2024	Dec. 31, 2023
Payout Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-Average Interest Rates, Original Discount Rate	3.81%	3.37%
Weighted-Average Interest Rates, Current Discount Rate	5.44%	4.95%
Weighted-Average Liability Duration (Years, Current Rates)	8 years 5 months 12 days	8 years 6 months 29 days
Other
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-Average Interest Rates, Original Discount Rate	4.89%	2.57%
Weighted-Average Interest Rates, Current Discount Rate	5.51%	4.95%
Weighted-Average Liability Duration (Years, Current Rates)	9 years 5 months 15 days	9 years 10 days

POLICY LIABILITIES - Expected F

POLICY LIABILITIES - Expected Future Benefit Payments and Gross Premiums, Undiscounted and Discounted (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Payout Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Expected Future Benefit Payments, Undiscounted	$ 33,415,451	$ 29,164,580
Expected Future Benefit Payments, Discounted (Original Discount Rate)	22,116,114	19,899,423
Expected Future Benefit Payments, Discounted (Current Discount Rate)	19,067,478	17,427,352
Expected Future Gross Premiums, Undiscounted	0	0
Expected Future Gross Premiums, Discounted (Original Discount Rate)	0	0
Expected Future Gross Premiums, Discounted (Current Discount Rate)	0	0
Other
Liability for Future Policy Benefit, Activity [Line Items]
Expected Future Benefit Payments, Undiscounted	16,509,005	832,608
Expected Future Benefit Payments, Discounted (Original Discount Rate)	9,336,911	689,760
Expected Future Benefit Payments, Discounted (Current Discount Rate)	9,126,824	604,768
Expected Future Gross Premiums, Undiscounted	2,072,528	377,693
Expected Future Gross Premiums, Discounted (Original Discount Rate)	1,614,118	317,710
Expected Future Gross Premiums, Discounted (Current Discount Rate)	$ 1,567,542	$ 262,653

POLICY LIABILITIES - Narrative

POLICY LIABILITIES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other comprehensive income (loss), net of reinsurance	$ (257,028)	$ (100,032)	$ (2,673)
Effect of changes in cash flow assumptions		(16,361)	$ 13,773
Effect of changes in other future expected assumptions	128,700	37,600
Liability For Future Policy Benefit, Expected Future Policy Benefit, Original Discount Rate, After Cash Flow and Reinsurance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other comprehensive income (loss), net of reinsurance	238,100	(315,000)
Payout Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Favorable impact to net income before taxes	$ 28,400
Payout Annuity And Long-Duration Insurance, Other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Favorable impact to net income before taxes		$ 4,200

POLICY LIABILITIES - Additional

POLICY LIABILITIES - Additional Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance as of Beginning of Period	$ 7,251,266	$ 5,104,810
Effect of Changes in Cash Flow Assumptions		(16,361)	$ 13,773
Effect of Changes in Experience		(59,717)	(43,775)
Adjusted Balance as of Beginning of Period		7,175,188	5,074,808
Issuances	23,401	1,929,571
Assessments	694,061	495,559
Benefits Paid	(504,520)	(399,201)
Interest	242,080	150,529
Balance as of End of Period	7,630,210	7,251,266	5,104,810
Less: Impact of Unrealized Investment Gains and Losses	138,295	121,481
Less: Reinsurance Recoverable, End of Period	1,586,281	1,434,130
Balance, End of Period, Net of Reinsurance Recoverable and Impact of Unrealized Investment Gains and Losses	5,905,634	5,695,655
Gross Assessments	$ 710,732	$ 471,957	$ 586,269
Weighted-Average Interest, Current Discount Rate	3.29%	3.09%
Weighted-Average Liability Duration (Years)	26 years 6 months 3 days	27 years 7 months 20 days

POLICY LIABILITIES - Market Bas

POLICY LIABILITIES - Market Based Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Market Risk Benefit [Roll Forward]
Balance as of Beginning of Period	$ 1,120,951
Effect of Changes in Other Future Expected Assumptions	128,700	$ 37,600
Balance as of End of Period	999,917	1,120,951
Asset	2,319	17
Liability	1,002,236	1,120,968
Net	(999,917)	(1,120,951)
Fixed Indexed Annuity And Variable And Other Annuities, Netting
Market Risk Benefit [Roll Forward]
Balance as of Beginning of Period	1,120,951	668,858
Balance as of Beginning of Period, Before Impact of Changes in Instrument-specific Credit Risk	1,016,209	802,199
Issuances	59,212	1,803
Interest	52,107	47,329
Attributed Fees Collected	194,400	187,673
Benefit Payments	(14,320)	(6,095)
Effect of Changes in Interest Rates	(256,401)	(22,937)
Effect of Changes in Equity Markets	(87,586)	(109,669)
Effect of Actual Experience Different from Assumptions	31,698	153,474
Effect of Changes in Other Future Expected Assumptions	(128,668)	(37,568)
Balance as of End of Period Before Impact of Changes in Instrument-Specific Credit Risk	866,651	1,016,209
Effect of Changes in Instrument-specific Credit Risk	133,266	104,742
Balance as of End of Period	999,917	1,120,951
Less: Reinsurance Recoverable as of the End of the Period	(11,371)	(14,214)
Balance as of End of Period, Net of Reinsurance Recoverable	988,546	1,106,737
Net Amount at Risk	$ 5,984,873	$ 5,706,758
Weighted-average Attained Age of Contract holders (Years)	71 years	70 years
Net	$ (999,917)	$ (1,120,951)
Fixed Indexed Annuities
Market Risk Benefit [Roll Forward]
Balance as of Beginning of Period	868,268	548,536
Balance as of Beginning of Period, Before Impact of Changes in Instrument-specific Credit Risk	790,615	651,641
Issuances	59,261	1,839
Interest	41,965	38,739
Attributed Fees Collected	104,938	103,961
Benefit Payments	(7,240)	(4,366)
Effect of Changes in Interest Rates	(177,230)	(27,401)
Effect of Changes in Equity Markets	(18,262)	(23,026)
Effect of Actual Experience Different from Assumptions	49,020	142,453
Effect of Changes in Other Future Expected Assumptions	(126,523)	(93,225)
Balance as of End of Period Before Impact of Changes in Instrument-Specific Credit Risk	716,544	790,615
Effect of Changes in Instrument-specific Credit Risk	99,437	77,653
Balance as of End of Period	815,981	868,268
Less: Reinsurance Recoverable as of the End of the Period	0	0
Balance as of End of Period, Net of Reinsurance Recoverable	815,981	868,268
Net Amount at Risk	$ 4,696,606	$ 4,282,995
Weighted-average Attained Age of Contract holders (Years)	71 years	70 years
Asset	$ 2,319	$ 0
Liability	818,300	868,268
Net	(815,981)	(868,268)
Variable- and Other Annuities
Market Risk Benefit [Roll Forward]
Balance as of Beginning of Period	252,683	120,322
Balance as of Beginning of Period, Before Impact of Changes in Instrument-specific Credit Risk	225,594	150,558
Issuances	(49)	(36)
Interest	10,142	8,590
Attributed Fees Collected	89,462	83,712
Benefit Payments	(7,080)	(1,729)
Effect of Changes in Interest Rates	(79,171)	4,464
Effect of Changes in Equity Markets	(69,324)	(86,643)
Effect of Actual Experience Different from Assumptions	(17,322)	11,021
Effect of Changes in Other Future Expected Assumptions	(2,145)	55,657
Balance as of End of Period Before Impact of Changes in Instrument-Specific Credit Risk	150,107	225,594
Effect of Changes in Instrument-specific Credit Risk	33,829	27,089
Balance as of End of Period	183,936	252,683
Less: Reinsurance Recoverable as of the End of the Period	(11,371)	(14,214)
Balance as of End of Period, Net of Reinsurance Recoverable	172,565	238,469
Net Amount at Risk	$ 1,288,267	$ 1,423,763
Weighted-average Attained Age of Contract holders (Years)	70 years	69 years
Asset	$ 0	$ 17
Liability	183,936	252,700
Net	$ (183,936)	$ (252,683)

POLICY LIABILITIES - Separate A

POLICY LIABILITIES - Separate Account Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Separate Account, Liability [Roll Forward]
Balance as of Beginning of Period	$ 4,107,000	$ 4,130,794
Premiums and Deposits	38,860	44,392
Surrenders, Withdrawals and Benefit Payments	(576,876)	(493,065)
Investment Performance	568,824	593,201
Other	(156,748)	(168,322)
Balance as of End of Period	3,981,060	4,107,000
Cash Surrender Value as of End of Period	3,981,060	4,107,000
Variable Annuities
Separate Account, Liability [Roll Forward]
Balance as of Beginning of Period	3,565,029	3,627,770
Premiums and Deposits	25,846	30,669
Surrenders, Withdrawals and Benefit Payments	(551,657)	(470,858)
Investment Performance	474,335	497,887
Other	(112,936)	(120,439)
Balance as of End of Period	3,400,617	3,565,029
Cash Surrender Value as of End of Period	3,400,617	3,565,029
Interest Sensitive Life
Separate Account, Liability [Roll Forward]
Balance as of Beginning of Period	541,971	503,024
Premiums and Deposits	13,014	13,723
Surrenders, Withdrawals and Benefit Payments	(25,219)	(22,207)
Investment Performance	94,489	95,314
Other	(43,812)	(47,883)
Balance as of End of Period	580,443	541,971
Cash Surrender Value as of End of Period	$ 580,443	$ 541,971

POLICY LIABILITIES - Separate_2

POLICY LIABILITIES - Separate Account Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Separate Account Investment [Line Items]
Total Assets Supporting Separate Account Liabilities	$ 3,981,060	$ 4,107,000
Managed Volatility Equity/Fixed Income Blended Fund
Fair Value, Separate Account Investment [Line Items]
Total Assets Supporting Separate Account Liabilities	1,930,973	2,131,149
Equity
Fair Value, Separate Account Investment [Line Items]
Total Assets Supporting Separate Account Liabilities	1,685,944	1,596,467
Fixed Income
Fair Value, Separate Account Investment [Line Items]
Total Assets Supporting Separate Account Liabilities	146,475	152,398
Money Market
Fair Value, Separate Account Investment [Line Items]
Total Assets Supporting Separate Account Liabilities	217,086	226,387
Alternative
Fair Value, Separate Account Investment [Line Items]
Total Assets Supporting Separate Account Liabilities	$ 582	$ 599

POLICY LIABILITIES - Closed Blo

POLICY LIABILITIES - Closed Blocks (Details) - Global Atlantic - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Total Investments	$ 1,361	$ 1,272
Cash and Cash Equivalents	9,062	6,332
Accrued Investment Income	46	46
Reinsurance Recoverable	940,732	926,035
Deferred Income Taxes	50,321	42,926
Total Assets	1,001,522	976,611
Liabilities
Policy Liabilities	899,732	877,856
Policyholder Dividend Obligation at Fair Value	76,297	77,762
Policyholder Dividends Payable at Fair Value	9,578	10,240
Total Policy Liabilities	985,607	965,858
Accrued Expenses and Other Liabilities	13,639	12,793
Total Liabilities	999,246	978,651
Excess of Closed Block Liabilities Over Assets Designated to the Closed Blocks and Maximum Future Earnings to be Recognized from Closed Block Assets and Liabilities	(2,276)	2,040
Revenues
Premiums and Other Income	1,449	(911)	$ (436)
Net Investment Expense	332	319	164
Total Revenues	1,781	(592)	(272)
Benefits and Expenses
Policy Benefits and Claims	(929)	(2,219)	(12,141)
Other Expenses	44	(13)	251
Total Benefits and Expenses	(885)	(2,232)	(11,890)
Net Contribution from the Closed Blocks	2,666	1,640	11,618
Income Tax (Benefit) Expense	(7,367)	861	16,185
Net Income (Loss)	$ 10,033	$ 779	$ (4,567)

INCOME TAXES - Income before In

INCOME TAXES - Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income (Loss) before Income Taxes:
United States	$ 5,087,745	$ 5,614,242	$ (713,238)
Foreign	772,688	940,367	421,017
Income (Loss) Before Taxes	$ 5,860,433	$ 6,554,609	$ (292,221)

INCOME TAXES - Provision (Benef

INCOME TAXES - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current
Federal	$ 363,242	$ 462,940	$ 737,737
State and Local	93,925	52,480	97,074
Foreign	188,837	108,836	94,473
Subtotal	646,004	624,256	929,284
Deferred
Federal	249,601	447,488	(703,169)
State and Local	62,538	121,198	(83,113)
Foreign	(3,747)	4,581	(17,609)
Subtotal	308,392	573,267	(803,891)
Total Income Taxes	$ 954,396	$ 1,197,523	$ 125,393

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Effective Income Tax Rate to the U.S. Federal Statutory Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Statutory U.S. Federal Income Tax Rate	21%	21%	21%
Income not attributable to KKR & Co. Inc.	(15.50%)	(8.80%)	(94.10%)
Foreign Income Taxes	0%	(0.30%)	0.80%
State and Local Income Taxes	2.20%	2.20%	(4.60%)
Compensation Charges not attributable to KKR & Co. Inc.	10.10%	4.90%	31.40%
Non-Deductible Expenses	1.10%	0%	(0.80%)
Change in Valuation Allowance	(1.10%)	0%	0%
Other	(1.50%)	(0.70%)	3.40%
Effective Income Tax Rate	16.30%	18.30%	(42.90%)

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets or Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jan. 02, 2024	Dec. 31, 2023
Asset Management and Strategic Holdings
Deferred Tax Assets
Fund Management Fee Credits	$ 127,006		$ 117,958
Equity Based Compensation	96,476		87,649
KKR Holdings Unit Exchanges	387,836		421,065
Depreciation and Amortization	140,088		172,995
Operating Lease Liability	179,640		83,594
Other	8,248		28,127
Total Deferred Tax Assets before Valuation Allowance	939,294		911,388
Valuation Allowance	0		0
Total Deferred Tax Assets	939,294		911,388
Deferred Tax Liabilities
Investment Basis Differences / Net Unrealized Gains & Losses	3,030,794		2,629,572
Indefinite Lived Intangible Asset / Fixed Assets and Intangibles	444,123		494,907
Operating Lease Right-of-Use Asset	179,640		83,594
Other	74,452		24,853
Total Deferred Tax Liabilities	3,729,009		3,232,926
Total Deferred Taxes, Net	(2,789,715)		(2,321,538)
Insurance
Deferred Tax Assets
Insurance Reserves	675,090		552,373
Insurance Intangibles	461,211		358,154
Net Operating Loss and Capital Loss Carryforwards	813,382		828,727
Insurance Investment Basis Differences, Including Derivatives	819,881	$ 22,100	587,339
Other	84,006		92,343
Total Deferred Tax Assets before Valuation Allowance	2,853,570		2,418,936
Valuation Allowance	(36,933)		(89,250)
Total Deferred Tax Assets	2,816,637		2,329,686
Deferred Tax Liabilities
Insurance Loss Reserve Adjustment	27,965		55,929
Total Deferred Tax Liabilities	27,965		55,929
Total Deferred Taxes, Net	$ 2,788,672		$ 2,273,757

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 02, 2024
Operating Loss Carryforwards [Line Items]
Decrease to tax positions within 12 months	$ 15,000
Net increase (decrease) of penalties	400	$ (1,300)	$ (2,000)
Net increase (decrease) on interest	1,800	(6,700)	(2,000)
Accrued income tax penalties liability	2,300	2,000	3,200
Accrued interest on income taxes, liability	6,900	5,100	$ 11,800
Insurance
Operating Loss Carryforwards [Line Items]
Decrease in deferred tax assets, valuation allowance	89,000
Deferred tax assets	819,881	587,339		$ 22,100
Deferred tax assets, valuation allowance	36,933	$ 89,250
Insurance | Capital Loss Carryforward
Operating Loss Carryforwards [Line Items]
Capital loss carryforwards	402,000
Insurance | Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	594,800
Operating loss carryforwards, subject to expiration	56,300
Insurance | Domestic Tax Authority | Global Atlantic Re Limited
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, not subject to expiration	2,600,000
Insurance | Domestic Tax Authority | Global Atlantic Iris Re Limited
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, not subject to expiration	251,600
Insurance | Domestic Tax Authority | Global Atlantic Iris FinCo LLC And Global Atlantic Iris LLC
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, not subject to expiration	$ 5,300

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, beginning of period	$ 16,476	$ 41,008	$ 59,633
Gross increases in tax positions in prior periods	10,677	0	5,169
Gross decreases in tax positions in prior periods	0	(13,878)	(8,414)
Gross increases in tax positions in current period	5,927	935	6,261
Lapse of statute of limitations	(250)	(219)	(551)
Settlements with taxing authorities	0	(11,370)	(21,090)
Unrecognized Tax Benefits, end of period	$ 32,830	$ 16,476	$ 41,008

EQUITY-BASED COMPENSATION - KKR

EQUITY-BASED COMPENSATION - KKR Equity Incentive Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity Based Payments
Equity-based Compensation	$ 746,443	$ 618,469	$ 730,236
KKR Holdings Awards
Equity Based Payments
Award outstanding (in shares)	0
Asset Management
Equity Based Payments
Equity-based Compensation	$ 611,644	502,816	569,518
Asset Management | KKR Holdings Awards
Equity Based Payments
Equity-based Compensation			119,800
Insurance
Equity Based Payments
Equity-based Compensation	$ 134,799	$ 115,653	$ 160,718

EQUITY-BASED COMPENSATION - K_2

EQUITY-BASED COMPENSATION - KKR Equity Incentive Plans Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) shares
Minimum
Equity Based Payments
Vesting period (in years)	3 years
Maximum
Equity Based Payments
Vesting period (in years)	5 years
KKR 2019 Equity Incentive Plan
Equity Based Payments
Total awards issuable as a percentage of diluted common stock outstanding	15%
Number of shares authorized (in shares) | shares	48,929,325
KKR Equity Incentive Plans | Service-Vesting Awards
Equity Based Payments
Portion of awards vested having one-year transfer restriction period (as a percent)	50%
Portion of awards vested having two-year transfer restriction period (as a percent)	50%
Minimum transfer restriction period with respect to one-half awards vested (in years)	1 year
Minimum transfer restriction period with respect to remaining one-half awards vested (in years)	2 years
Minimum retained ownership required to continuously hold common share equivalents to as percentage of cumulatively vested interests	15%
Maximum forfeiture rate assumed (as a percent)	7%
KKR Equity Incentive Plans | Service-Vesting Awards | Asset Management and Strategic Holdings
Equity Based Payments
Vesting period (in years)	2 years 4 months 24 days
Estimated unrecognized equity-based payment expense | $	$ 906
KKR Equity Incentive Plans | Minimum | Service-Vesting Awards
Equity Based Payments
Vesting period (in years)	3 years
KKR Equity Incentive Plans | Maximum | Service-Vesting Awards
Equity Based Payments
Vesting period (in years)	5 years

EQUITY-BASED COMPENSATION - Awa

EQUITY-BASED COMPENSATION - Awards Rollforward (Details) - KKR Equity Incentive Plans	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Service-Vesting Awards
Shares
Balance at the beginning of the period (in shares) | shares	23,228,671
Granted (in shares) | shares	5,796,078
Vested (in shares) | shares	(7,062,056)
Forfeitures (in shares) | shares	(856,803)
Balance at the end of the period (in shares) | shares	21,105,890
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 53.22
Granted (in dollars per share) | $ / shares	92.29
Vested (in dollars per share) | $ / shares	50.29
Forfeitures (in dollars per share) | $ / shares	60.07
Balance at the end of the period (in dollars per share) | $ / shares	$ 64.65
Market Condition Awards | Asset Management and Strategic Holdings
Shares
Balance at the beginning of the period (in shares) | shares	36,497,589
Granted (in shares) | shares	2,278,830
Vested (in shares) | shares	(234,776)
Forfeitures (in shares) | shares	(522,620)
Balance at the end of the period (in shares) | shares	38,019,023
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 29.59
Granted (in dollars per share) | $ / shares	58.31
Vested (in dollars per share) | $ / shares	22.10
Forfeitures (in dollars per share) | $ / shares	31.44
Balance at the end of the period (in dollars per share) | $ / shares	$ 31.33

EQUITY-BASED COMPENSATION - Mar

EQUITY-BASED COMPENSATION - Market Condition Awards Narrative (Details) - Market Condition Awards - KKR Equity Incentive Plans $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) day $ / shares
Equity Based Payments
Estimated unrecognized equity-based payment expense | $	$ 557
Remaining requisite service period	2 years 7 months 6 days
Asset Management and Strategic Holdings
Equity Based Payments
Average stock price target consecutive trading days threshold | day	20
Asset Management and Strategic Holdings | Minimum
Equity Based Payments
Stock price target (in dollars per share)	$ 45
Required service period	5 years
Asset Management and Strategic Holdings | Maximum
Equity Based Payments
Stock price target (in dollars per share)	$ 140
Required service period	6 years
Maximum forfeiture rate assumed	7%

EQUITY-BASED COMPENSATION - Ass

EQUITY-BASED COMPENSATION - Assumptions Used to Estimate Fair Value (Details) - KKR Equity Incentive Plans - Asset Management and Strategic Holdings	12 Months Ended
	Dec. 31, 2024 $ / shares
Market Condition Awards | Weighted Average
Equity Based Payments
Grant Date Fair Value (in dollars per share)	$ 30.62
Closing KKR share price as of valuation date (in dollars per share)	$ 51.74
Risk Free Rate	2.21%
Volatility	30.04%
Dividend Yield	1.27%
Expected Cost of Equity	10.74%
Market Condition Awards | Minimum
Equity Based Payments
Grant Date Fair Value (in dollars per share)	$ 19.87
Closing KKR share price as of valuation date (in dollars per share)	$ 37.93
Risk Free Rate	0.41%
Volatility	28%
Dividend Yield	0.71%
Expected Cost of Equity	9.13%
Market Condition Awards | Maximum
Equity Based Payments
Grant Date Fair Value (in dollars per share)	$ 79.94
Closing KKR share price as of valuation date (in dollars per share)	$ 98.62
Risk Free Rate	4.41%
Volatility	38%
Dividend Yield	1.53%
Expected Cost of Equity	11.80%
Co-CEO Market Condition Awards
Equity Based Payments
Grant Date Fair Value (in dollars per share)	$ 48.91
Closing KKR share price as of valuation date (in dollars per share)	$ 75.76
Risk Free Rate	1.42%
Volatility	28%
Dividend Yield	0.77%
Expected Cost of Equity	9.36%

EQUITY-BASED COMPENSATION - Co-

EQUITY-BASED COMPENSATION - Co-CEO Awards Narrative (Details) - Co-CEO Market Condition Awards - KKR Equity Incentive Plans - Asset Management and Strategic Holdings $ / shares in Units, shares in Millions, $ in Millions	Dec. 09, 2021 day $ / shares shares	Dec. 31, 2024 USD ($)
Equity Based Payments
Granted (in shares) | shares	7.5
Average stock price target consecutive trading days threshold | day	20
Estimated unrecognized equity-based payment expense | $		$ 290
Tranche One
Equity Based Payments
Vesting percentage	20%
Stock price target (in dollars per share)	$ 95.80
Tranche Two
Equity Based Payments
Vesting percentage	20%
Stock price target (in dollars per share)	$ 105.80
Tranche Three
Equity Based Payments
Vesting percentage	20%
Stock price target (in dollars per share)	$ 115.80
Tranche Four
Equity Based Payments
Vesting percentage	20%
Stock price target (in dollars per share)	$ 125.80
Tranche Five
Equity Based Payments
Vesting percentage	20%
Stock price target (in dollars per share)	$ 135.80

EQUITY-BASED COMPENSATION - Boo

EQUITY-BASED COMPENSATION - Book Value Awards Narrative (Details) - Insurance $ in Millions	Jan. 02, 2024 USD ($) shares	Feb. 01, 2021 installment payment shares
Book-Value Awards | GA Plan
Equity Based Payments
Number of payments authorized to be received upon vesting | payment		1
Book value used in payment calculation, number of shares (in shares)		1
Number of vesting installments | installment		3
Service-Vesting Awards | KKR 2019 Equity Incentive Plan
Equity Based Payments
Granted (in shares)	1,900,000
Reclassification of share-based payment arrangement from liability to equity | $	$ 77

EQUITY-BASED COMPENSATION - GA

EQUITY-BASED COMPENSATION - GA Equity Incentive Plan Awards Narrative (Details) - USD ($) $ in Millions			12 Months Ended
	Jan. 02, 2024	Jun. 24, 2021	Dec. 31, 2024
KKR Equity Incentive Plans | Insurance
Equity Based Payments
Compensation modification	$ 149
Service-Vesting Awards | GA Equity Incentive Plan
Equity Based Payments
Incentive shares issued (in shares)		1,000
Maximum forfeiture rate assumed (as a percent)		0%
Vesting period (in years)		5 years
Service-Vesting Awards | KKR Equity Incentive Plans
Equity Based Payments
Maximum forfeiture rate assumed (as a percent)			7%
Granted (in shares)			5,796,078
Service-Vesting Awards | KKR Equity Incentive Plans | Insurance
Equity Based Payments
Vesting period (in years)	2 years
Granted (in shares)	1,300,000
Market Condition Awards | KKR Equity Incentive Plans | Insurance
Equity Based Payments
Granted (in shares)	900,000
Maximum forfeiture rate assumed	4%
Restricted Holding Units (RHUs) | KKR Equity Incentive Plans | Insurance
Equity Based Payments
Vesting amount	$ 54

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of Related Party Transactions (Details) - Affiliated Entity - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Due from Affiliates	$ 1,856,045	$ 1,446,852
Due to Affiliates	524,516	538,099
Amounts due from unconsolidated investment funds
Related Party Transaction [Line Items]
Due from Affiliates	1,583,090	1,229,308
Due to Affiliates	145,565	131,369
Amounts due from portfolio companies
Related Party Transaction [Line Items]
Due from Affiliates	272,955	217,544
Amounts due to current and former employees under the tax receivable agreement
Related Party Transaction [Line Items]
Due to Affiliates	$ 378,951	$ 406,730

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Jul. 01, 2018	Nov. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024
Related Party Transaction [Line Items]
Amount required to be paid to transferees as percentage of cash savings in US federal, state and local income tax	85%
Expected benefit as percentage of cash savings in income tax	15%
Number of days within which payments required to be made under tax receivable agreement after filing of the tax return	90 days
Cash payments made under tax receivable agreement			$ 27.2	$ 16.3	$ 10.3
Cumulative income tax savings realized			18.3
Discretionary investments			863.8	629	714.8
Chief Executive Officer | Aircraft Rental, Charges
Related Party Transaction [Line Items]
Amount of related party transaction			6.2	3.4	2.9
Messrs. Kravis And Roberts, Including Estate Planning Trusts | Facilities, Payments Made To Partnership
Related Party Transaction [Line Items]
Payments made to related party			$ 7.7	$ 9.5	$ 8.8
Related party transaction, renewal term		15 years
Director
Related Party Transaction [Line Items]
Value of the general partner contributing funds						$ 22

SEGMENT REPORTING - Information

SEGMENT REPORTING - Information Regarding Segment Results (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Number of operating segments | segment	3
Interest Expense	$ 3,034,145	$ 2,772,088	$ 1,550,777
Net Investment Income	6,574,608	5,514,902	4,118,246
Pre-tax Operating Earnings Attributable to Noncontrolling Interests	5,860,433	6,554,609	(292,221)
Dividends, Net	1,100,361	791,160	1,322,447
Net Realized Investment Income	4,967,595	4,413,902	1,415
Assets	360,099,411	317,294,194
Total Non-cash expenses	746,443	574,395	663,026
Equity-based Compensation	746,443	618,469	730,236
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Earnings	5,509,504	4,155,344	4,697,623
Assets	277,640,440	240,881,344
Asset Management
Segment Reporting Information [Line Items]
Total Non-cash expenses	611,644	502,816	569,518
Equity-based Compensation	611,644	502,816	569,518
Asset Management | KKR Holdings Awards
Segment Reporting Information [Line Items]
Equity-based Compensation			119,800
Asset Management | Operating Segments
Segment Reporting Information [Line Items]
Compensation	(833,918)	(865,336)	(769,735)
Other Operating Expenses	(663,543)	(596,284)	(585,999)
Fee Related Earnings	3,267,796	2,383,786	2,167,351
Realized Performance Income	1,822,115	1,065,389	2,176,658
Realized Investment Income	534,668	645,031	1,033,186
Total Segment Earnings	4,331,054	3,324,176	3,884,666
Assets	25,868,340	27,052,445
Equity-based Compensation	611,644	502,816	449,685
Asset Management | Management Fees | Operating Segments
Segment Reporting Information [Line Items]
Realized Investment Income	3,461,381	3,030,325	2,656,487
Asset Management | Transaction and Monitoring Fees, Net | Operating Segments
Segment Reporting Information [Line Items]
Realized Investment Income	1,165,884	720,654	775,933
Asset Management | Fee Related | Operating Segments
Segment Reporting Information [Line Items]
Realized Investment Income	137,992	94,427	90,665
Asset Management | Realized Performance Income | Operating Segments
Segment Reporting Information [Line Items]
Compensation	(1,213,327)	(666,440)	(1,333,526)
Asset Management | Realized Investment Income | Operating Segments
Segment Reporting Information [Line Items]
Compensation	(80,198)	(103,590)	(159,003)
Insurance
Segment Reporting Information [Line Items]
Net Investment Income	6,574,608	5,514,902	4,118,246
Net Cost of Insurance	(741,796)	(825,998)	(562,585)
General, Administrative and Other	(745,096)	(746,215)	(718,977)
Assets	237,582,033	203,726,827
Total Non-cash expenses	134,799	71,579	93,508
Equity-based Compensation	134,799	115,653	160,718
Insurance | Operating Segments
Segment Reporting Information [Line Items]
Net Investment Income	6,328,822	5,377,817	4,112,244
Net Cost of Insurance	(4,448,886)	(3,283,009)	(2,295,133)
General, Administrative and Other	(865,390)	(805,109)	(638,274)
Pre-tax Operating Earnings	1,014,546	1,289,699	1,178,837
Pre-tax Operating Earnings Attributable to Noncontrolling Interests	0	(473,062)	(454,075)
Total Segment Earnings	1,014,546	816,637	724,762
Assets	243,719,868	207,160,065
Equity-based Compensation	134,799	115,653	160,718
Strategic Holdings | Operating Segments
Segment Reporting Information [Line Items]
Pre-tax Operating Earnings	76,211	14,531	52,863
Dividends, Net	76,211	14,531	52,863
Total Segment Earnings	163,904	14,531	88,195
Assets	8,052,232	6,668,834
Strategic Holdings | Realized Investment Income | Operating Segments
Segment Reporting Information [Line Items]
Net Realized Investment Income	87,693	0	35,332
Asset Management and Insurance Segments | Intersegment Eliminations
Segment Reporting Information [Line Items]
Interest Expense	10,200	186,400	145,300
Asset Management and Insurance Segments | Management Fees | Intersegment Eliminations
Segment Reporting Information [Line Items]
Realized Investment Income	537,200	445,900	301,300
Asset Management and Strategic Holdings
Segment Reporting Information [Line Items]
Realized Investment Income	3,653,962	2,963,869	2,821,627
Compensation	(4,330,967)	(3,012,687)	(1,144,666)
General, Administrative and Other	(1,311,676)	(1,056,899)	$ (993,548)
Assets	122,517,378	$ 113,567,367
Asset Management and Strategic Holdings | Intersegment Eliminations
Segment Reporting Information [Line Items]
Realized Performance Income	15,500
Asset Management and Strategic Holdings | Management Fees | Intersegment Eliminations
Segment Reporting Information [Line Items]
Realized Investment Income	$ 31,800

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation to Total Segment Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total GAAP Revenues	$ 21,878,698	$ 14,499,312	$ 5,704,180
Net Premiums	(7,898,834)	(1,975,675)	(1,182,461)
Insurance
Segment Reporting Information [Line Items]
Total GAAP Revenues	14,666,452	8,692,006	5,383,062
Net Premiums	(7,898,834)	(1,975,675)	(1,182,461)
Policy Fees	(1,377,686)	(1,260,249)	(1,261,721)
Other Income	(238,410)	(176,442)	(139,124)
Impact of Consolidation and Other
Segment Reporting Information [Line Items]
Total GAAP Revenues	1,344,972	861,928	841,711
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Revenues	13,614,766	10,948,174	10,933,368
Operating Segments | Asset Management
Segment Reporting Information [Line Items]
Capital Allocation-Based Income (Loss) (GAAP)	(3,558,284)	(2,843,437)	2,500,509
Realized Carried Interest	1,481,760	1,005,759	1,993,860
Realized Investment Income	534,668	645,031	1,033,186
Capstone Fees	(110,953)	(100,314)	(86,665)
Expense Reimbursements	(152,726)	(75,687)	(102,927)
Operating Segments | Strategic Holdings
Segment Reporting Information [Line Items]
Realized Investment Income and Dividends	211,157	14,531	88,195
Operating Segments | Insurance
Segment Reporting Information [Line Items]
Net Premiums	(7,898,834)	(1,975,675)	(1,182,461)
Policy Fees	(1,377,686)	(1,260,249)	(1,261,721)
Other Income	(238,410)	(176,442)	(139,124)
(Gains) Losses from Investments	1,532,863	700,380	472,053
Non-Operating Changes in Policy Liabilities and Derivatives	$ (32,459)	$ (346,963)	$ 1,072,572

SEGMENT REPORTING - Reconcili_2

SEGMENT REPORTING - Reconciliation to Total Segment Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total GAAP Expenses	$ 20,985,860	$ 12,358,605	$ 5,997,816
Equity-based Compensation	746,443	618,469	730,236
Net Premiums	(7,898,834)	(1,975,675)	(1,182,461)
Impact of Consolidation and Other
Segment Reporting Information [Line Items]
Total GAAP Expenses	(448,776)	(392,778)	(252,829)
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Expenses	8,105,262	6,319,768	5,781,670
Operating Segments | KKR Holdings Units
Segment Reporting Information [Line Items]
Equity-based Compensation	0	0	(119,834)
Asset Management
Segment Reporting Information [Line Items]
Equity-based Compensation	611,644	502,816	569,518
Transaction-related and Non-operating Items	122,009	31,805	94,629
Asset Management | Operating Segments
Segment Reporting Information [Line Items]
Equity-based Compensation	611,644	502,816	449,685
Unrealized Carried Interest Compensation	(1,505,558)	(792,758)	1,753,396
Reimbursable Expenses	(152,726)	(75,687)	(102,927)
Capstone Expenses	(81,280)	(77,642)	(81,746)
Transaction-related and Non-operating Items	122,009	31,805	53,919
Insurance
Segment Reporting Information [Line Items]
Total GAAP Expenses	15,226,106	8,195,628	3,782,331
Equity-based Compensation	134,799	115,653	160,718
Net Premiums	(7,898,834)	(1,975,675)	(1,182,461)
Policy Fees	(1,377,686)	(1,260,249)	(1,261,721)
Other Income	(238,410)	(176,442)	(139,124)
Amortization of Intangibles	(19,100)	(17,600)	(17,600)
Transaction-related and Non-operating Items	20,615	7,347	15,215
Insurance | Operating Segments
Segment Reporting Information [Line Items]
Equity-based Compensation	134,799	115,653	160,718
Net Premiums	(7,898,834)	(1,975,675)	(1,182,461)
Policy Fees	(1,377,686)	(1,260,249)	(1,261,721)
Other Income	(238,410)	(176,442)	(139,124)
Non-Operating Changes in Policy Liabilities	(270,326)	(608,081)	1,877,814
Amortization of Intangibles	(17,935)	(17,647)	(17,647)
Transaction-related and Non-operating Items	$ 20,615	$ 11,604	$ 24,745

SEGMENT REPORTING - Total Distr

SEGMENT REPORTING - Total Distributable Operating Earnings Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Income (Loss) Before Tax (GAAP)	$ 5,860,433	$ 6,554,609	$ (292,221)
Interest Expense, Net	3,034,145	2,772,088	1,550,777
Equity-based Compensation	746,443	618,469	730,236
Total Segment Earnings	5,509,504	4,155,344	4,697,623
Asset Management
Segment Reporting Information [Line Items]
Unrealized (Gains) Losses	(673,790)	(843,627)	2,445,529
Unrealized Carried Interest	(1,943,200)	(1,656,974)	4,231,359
Unrealized Carried Interest Compensation	1,505,558	792,758	(1,753,396)
Transaction-related and Non-operating Items	122,009	31,805	94,629
Equity-based Compensation	611,644	502,816	569,518
Asset Management | Non-Performance Based Awards
Segment Reporting Information [Line Items]
Equity-based Compensation	279,418	230,858	210,756
Asset Management | Performance Based Awards
Segment Reporting Information [Line Items]
Equity-based Compensation	332,226	271,958	238,929
Strategic Holdings
Segment Reporting Information [Line Items]
Unrealized (Gains) Losses	(958,418)	(691,307)	(443,447)
Insurance
Segment Reporting Information [Line Items]
Transaction-related and Non-operating Items	20,615	7,347	15,215
Equity-based Compensation	134,799	115,653	160,718
(Gains) Losses from Investments	1,465,348	363,956	379,647
Non-Operating Changes in Policy Liabilities and Derivatives	296,917	228,929	(584,495)
Equity-Based and Other Compensation	134,799	71,579	93,508
Amortization of Acquired Intangibles	17,935	11,175	10,852
Segment Reconciling Items
Segment Reporting Information [Line Items]
Interest Expense, Net	302,381	325,919	302,151
Segment Reconciling Items | KKR Holdings Units
Segment Reporting Information [Line Items]
Equity-based Compensation	0	0	119,834
Impact of Consolidation and Other
Segment Reporting Information [Line Items]
Income (Loss) Before Tax (GAAP)	$ (1,252,727)	$ (1,543,641)	$ (371,227)

SEGMENT REPORTING - Total Segme

SEGMENT REPORTING - Total Segment Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Consolidated GAAP assets	$ 360,099,411	$ 317,294,194
Impact of Consolidation and Reclassifications	(78,288,198)	(73,748,156)
Carry Pool Reclassifications	(4,170,773)	(2,664,694)
Operating Segments
Segment Reporting Information [Line Items]
Consolidated GAAP assets	$ 277,640,440	$ 240,881,344

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 31, 2025	Dec. 31, 2024	Apr. 30, 2024
Class of Stock [Line Items]
Remaining amount available for repurchase			$ 50
Remaining available amount, share repurchase program			50
Additional amount in share repurchase program			$ 500
Subsequent Event
Class of Stock [Line Items]
Remaining amount available for repurchase	$ 69
Series I Preferred Stock
Class of Stock [Line Items]
Preferred stock redemption price (in dollars per share)		$ 0.01

EQUITY - Share Repurchases (Det

EQUITY - Share Repurchases (Details) - Common Stock - Share Repurchase Program - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Shares of common stock repurchased (in shares)	0	5,395,162	5,191,174
Equity awards for common stock retired (in shares)	1,170,857	764,999	1,308,501

EQUITY - Noncontrolling Interes

EQUITY - Noncontrolling Interests Calculation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Stockholders' equity, beginning balance	$ 57,763,485	$ 55,218,625
Net Income (Loss) Attributable to Noncontrolling Interests	4,906,037	5,357,086	$ (417,614)
Stockholders' equity, ending balance	60,399,515	57,763,485	55,218,625
Noncontrolling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Stockholders' equity, beginning balance	34,904,791	36,410,858	40,579,526
Net Income (Loss) Attributable to Noncontrolling Interests	1,756,643	1,630,230	101,258
Other Comprehensive Income (Loss), net of tax	6,294	588,415	(3,919,807)
Compensation Modification - Issuance of Holdings III Units (See Note 19)	53,623
Equity-Based Compensation (Non Cash Contribution)	432,299	323,577	364,225
Exchange of KKR Holdings units to Common Stock			(12,865)
Holdings Merger (See Note 1)			(7,197,950)
Change in KKR & Co. Inc.'s Ownership Interest	(431,394)	(156,867)	(170,436)
Capital Contributions	7,466,717	12,871,585	13,706,821
Capital Distributions	(8,191,990)	(8,301,516)	(7,039,914)
Changes in Consolidation	1,163,105	(8,461,491)
Stockholders' equity, ending balance	36,747,947	34,904,791	36,410,858
Noncontrolling Interests | 2024 GA Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
2024 GA Acquisition - Cash consideration (See Note 1)	(2,622,230)
2024 GA Acquisition - Issuance of Holdings III Units (See Note 1)	40,789
Change in KKR & Co. Inc.'s Ownership - 2024 GA Acquisition	2,169,300
Noncontrolling Interests | As previously reported
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Stockholders' equity, beginning balance	$ 34,904,791	35,778,000	40,474,565
Stockholders' equity, ending balance		34,904,791	35,778,000
Noncontrolling Interests | Adjustment
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Stockholders' equity, beginning balance		$ 632,858	104,961
Stockholders' equity, ending balance			$ 632,858

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTERESTS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Redeemable Noncontrolling Interest [Line Items]
Redeemable non-controlling interests	$ 1,585,177	$ 615,427	$ 152,065	$ 82,491
Global Atlantic
Redeemable Noncontrolling Interest [Line Items]
Redeemable non-controlling interests		$ 47,800

REDEEMABLE NONCONTROLLING INT_4

REDEEMABLE NONCONTROLLING INTERESTS - Rollforward of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) in Redeemable Noncontrolling Interests
Balance at the beginning of the period	$ 615,427	$ 152,065	$ 82,491
Net Income (Loss) Attributable to Redeemable Noncontrolling Interests	73,149	(5,405)	2,792
Capital Contributions	922,127	499,433	69,322
Capital Distributions	(23,763)	(2,845)	(2,540)
Change in KKR & Co. Inc.'s Ownership Interest	(1,763)	0	0
Changes in Consolidation	0	(27,821)	0
Balance at the end of the period	$ 1,585,177	$ 615,427	$ 152,065

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($)		12 Months Ended
	Jan. 13, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2013	Jan. 08, 2025
Other Commitments [Line Items]
Unfunded commitments		$ 11,000,000,000
Notional amount		107,251,393,000	$ 84,622,876,000
Subsequent Event
Other Commitments [Line Items]
Deposit of settlement recovery, estimate						$ 227,500,000
Fund reserve						$ 145,000,000
Civil penalty payment	$ 11,000,000
Global Atlantic | Unaffiliated Third Parties
Other Commitments [Line Items]
Total fees expensed		17,900,000	20,300,000	$ 20,100,000
Total capacity of financing arrangements		2,400,000,000	$ 2,300,000,000
Global Atlantic | Financial Standby Letter of Credit
Other Commitments [Line Items]
Contingent funding obligations issued by third-party banks on behalf of borrowers		329,700,000
Global Atlantic | Payment Guarantee
Other Commitments [Line Items]
Guarantor period					25 years
Payment obligation		49,500,000
Capital Markets | KKR
Other Commitments [Line Items]
Unfunded commitments		700,000,000
Notional amount		4,500,000,000
Purchase or Funding of Investments | Global Atlantic
Other Commitments [Line Items]
Unfunded commitments		3,100,000,000
Commitment to Extend Credit | Global Atlantic
Other Commitments [Line Items]
Liability for current expected credit losses		14,900,000
Clawback Obligation Attributable to Certain and Former KKR Employees | Asset Management
Other Commitments [Line Items]
Private equity fund carried interest amount subject to clawback provision assuming liquidation at fair value		546,000,000
Cash reserve for full reimbursement amount		221,000,000
Liquidation value for clawback obligation		0
Clawback obligation amount if private equity vehicles liquidated at fair value		4,700,000,000
Clawback Obligation Attributable to Certain and Former KKR Employees | KKR Associates Holdings L.P. | Asset Management
Other Commitments [Line Items]
Cash reserve for full reimbursement amount		$ 221,000,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Purchase Obligations (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 35,659
2026	31,329
2027	21,830
2028	12,537
2029	11,160
Thereafter	54,913
Total	$ 167,428

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Non-cancelable Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Asset Management and Strategic Holdings
Lessee, Lease, Description [Line Items]
2025	$ 51,593
2026	80,012
2027	73,910
2028	70,413
2029	66,906
Thereafter	584,472
Total Lease Payments Required	927,306
Less: Imputed Interest	205,065
Total Operating Lease Liabilities	$ 722,241	$ 360,852
Operating lease, liability, statement of financial position	Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities
Insurance
Lessee, Lease, Description [Line Items]
2025	$ 18,699
2026	17,041
2027	17,056
2028	13,425
2029	12,091
Thereafter	289,301
Total Lease Payments Required	367,613
Less: Imputed Interest	182,066
Total Operating Lease Liabilities	$ 185,547	$ 193,566
Operating lease, liability, statement of financial position	Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities

CAPITAL & REGULATORY REQUIREM_3

CAPITAL & REGULATORY REQUIREMENTS - Schedule of Ordinary Dividend Capacity (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Commonwealth Annuity and Life Insurance Company
Dividends Payable [Line Items]
Ordinary dividend and distribution capacity	$ 0
Global Atlantic Re Limited
Dividends Payable [Line Items]
Ordinary dividend and distribution capacity	$ 1,354,945

CAPITAL & REGULATORY REQUIREM_4

CAPITAL & REGULATORY REQUIREMENTS - Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2024	Dec. 31, 2023
Commonwealth Annuity and Life Insurance Company
Dividends Payable [Line Items]
Statutory accounting shareholders' equity	$ 6.2	$ 4.3
Global Atlantic Re Limited and Global Atlantic Assurance Limited
Dividends Payable [Line Items]
Statutory accounting shareholders' equity	$ 4.2	$ 3.4

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Billions		3 Months Ended		12 Months Ended
	Feb. 04, 2025	Mar. 31, 2025	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2025
Subsequent Events
Dividend declared (in dollars per share)			$ 0.70	$ 0.690	$ 0.650	$ 0.610
Forecast
Subsequent Events
Dividend declared (in dollars per share)		$ 0.74
Subsequent Event
Subsequent Events
Dividend declared (in dollars per share)	$ 0.175
Subsequent Event | Forecast | Strategic Holdings
Subsequent Events
Increase in ownership interest in certain core private equity businesses							$ 1.1

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS - Valuation For Deferred Tax Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 02, 2024
Asset Management and Strategic Holdings
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Deferred tax assets, valuation allowance	$ 0	$ 0
Insurance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Deferred tax assets	819,881	587,339		$ 22,100
Deferred tax assets, valuation allowance	36,933	89,250
Valuation Allowance for Deferred Tax Assets | Asset Management and Strategic Holdings
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	0	0	$ (23,082)
Tax Valuation Allowance (Charged) /Credited to Income Tax Provision	0	0	0
Tax Valuation Allowance (Charged) / Credited to Balance Sheet	0	0	23,082
Balance at End of Period	0	0	0
Valuation Allowance for Deferred Tax Assets | Insurance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	(89,250)	(89,250)	0
Tax Valuation Allowance (Charged) /Credited to Income Tax Provision	67,147	0	0
Tax Valuation Allowance (Charged) / Credited to Balance Sheet	(14,830)	0	(89,250)
Balance at End of Period	$ (36,933)	$ (89,250)	$ (89,250)

SCHEDULE II - VALUATION AND Q_3

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS - Reserves Deducted From Assets To Which They Apply (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Credit Loss Allowance on Available-for-sale Securities
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 268,712	$ 128,332	$ 88,133
Charged to Costs and Expenses	115,367	168,899	57,411
Assumed	611	1,191	2,554
Recoveries	0	0	0
Deductions	(20,466)	(16,063)	(11,925)
Charge-off	(88,902)	(13,647)	(7,841)
Balance at End of Period	275,322	268,712	128,332
Credit Loss Allowance on Loans
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	602,443	560,228	374,077
Charged to Costs and Expenses	305,770	210,704	369,296
Assumed	0	0	0
Recoveries	28,773	21,768	0
Deductions	0	0	0
Charge-off	(322,578)	(190,257)	(183,145)
Balance at End of Period	614,408	602,443	560,228
Credit Loss Allowance on Unfunded Commitments and Letters of Credit
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	49,432	55,786	21,675
Charged to Costs and Expenses	(30,639)	(6,354)	34,111
Assumed	0	0	0
Recoveries	0	0	0
Deductions	0	0	0
Charge-off	0	0	0
Balance at End of Period	18,793	49,432	55,786
Credit Loss Allowance on Reinsurance Recoverables
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	21,049	41,163	8,386
Charged to Costs and Expenses	(4,681)	(20,114)	32,777
Assumed	0	0	0
Recoveries	0	0	0
Deductions	0	0	0
Charge-off	0	0	0
Balance at End of Period	$ 16,368	$ 21,049	$ 41,163

SCHEDULE IV - REINSURANCE (Deta

SCHEDULE IV - REINSURANCE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Gross Amount	$ 75,603,581	$ 81,531,659	$ 87,800,041
Ceded to Other Companies	(57,446,060)	(69,253,317)	(50,258,155)
Assumed from Other Companies	43,934,822	45,073,052	20,664,894
Net Amount	$ 62,092,343	$ 57,351,394	$ 58,206,780
Percentage of Amount Assumed to Net	71%	79%	36%
Gross Amount	$ 642,803	$ 118,535
Ceded to Other Companies	(4,659,566)	(2,281,618)
Assumed from Other Companies	11,915,597	4,138,758
Net Amount	$ 7,898,834	$ 1,975,675	$ 1,182,461
Percentage of Amount Assumed to Net	151%	209%	204%
Gross Amount	$ 917,684	$ 912,931	$ 950,702
Ceded to Other Companies	(651,996)	(94,767)	(17,509)
Assumed from Other Companies	1,111,998	442,085	328,528
Net Amount	$ 1,377,686	$ 1,260,249	$ 1,261,721
Percentage of Amount Assumed to Net	81%	35%	26%