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necessary the time have and We volatility of uncertainty. through experience financial flexibility, and this manage discipline to macro
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close portfolio high reinsurance Turning well-positioned. remains our diversified X. quality, and Slide investment to the of transaction, After the
transaction assets the second as the quarter. Our $XX result a reinsurance decreased billion invested of during total
differentiated, sign yield mortgage the commercial liabilities reinsurance between worked with and fit assets. increase by As private and points. had our in portfolio with credit needs we to the basis opportunity lower included counterparty well go-forward close to liquidity loans the approximately and specific we the the certain the withheld assets funds of identify retain account, assets These XX higher-yielding
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the the guidance net to risk from XXXX good a commercial return A comments loan-to-value an year our of and XX% The Excluding expect average significant due XX% our outlook the of We're XX% account. service profile comfortable profile. and high to we The RIS-Spread a decline. revenue high at decrease liability to the of a improved investment fit loan to now is and of in full has portfolio portfolio. XX% the end portfolio variances, for be our general quality, margin XXXX from X% transaction, range with other few X.Xx. ratio average coverage an our remaining on debt mortgage of
and diverse disciplined long management. we are and a exposure our liabilities liability sectors, asset have to high-risk have term, manageable importantly, other and We alternatives and
the of in investment of are the portfolio Additional our appendix details available slides.
As contracts effect many XXXX. on LDTI, of goes targeted X, you or guidance, insurance into know, for long-duration improvements the January accounting
will on our reported but our LDTI flow underlying economics, our capital cash impact free generation it doesn't or results. Importantly, change financial have an position,
and of early billion decrease total adopting We're on results LDTI interest assumption by impacted billion as that will this under the guidance equity currently XXXX the the be to discount international impact XXXX. and equivalent modified a transition all rate with financial ratings of in are XXXX update recast rate on the will driven We the credit single estimating based XXXX. January between $X.X stockholders' standards. to of impact adoption retrospective the $X.X requirement in from approximately rating Nearly of A we'll on liabilities and LDTI and a is AOCI X, basis,
of expect where a second the impact have our today, AOCI. result, as impact from expected value XXXX. interest significantly were equity from immaterial the to LDTI excluding beginning the stockholders' LDTI here they to risen As book at of an of XXXX is Sitting as have to quarter be and we immaterial of equity rates
return, focused drivers transformation is into capital-efficient growth, company off. a our more Our growth paying higher higher on
and As transactions quarter, over increased of quarter the excluding the to and ROE impact ago second the variances, despite year X% XX.X%. improved macro and significant volatility, from non-GAAP EPS
on the aim please approach, management in growth long-term executing the strategy questions. open management forward, global and move asset retirement drive capital benefits the our and strengthen to our select in invest continue drivers U.S. emerging and we concludes call all As Operator, value. we remarks. go-forward prepared our for and will protection, shareholder U.S. markets This of to with
