Shares declined 1.0% following the quarter, reflecting a market response that signals the results were largely in line with expectations but lacked clear drivers to push the stock higher. Despite positive execution in key regions, there was no evident catalyst to offset cautious investor sentiment.

• Pretax adjusted operating income was $611 million, translating to $6.97 per share after tax.
• Asia Pacific continued to drive growth with multiple notable transactions, particularly in Japan, across asset and biometric risk segments.
• EMEA showed steady performance, supported by positive experience and momentum in longevity business with additional transaction activity.
• U.S. operations delivered solid adjusted operating results, with favorable claims experience and sustained underwriting momentum in individual life.
• The company repurchased $50 million in shares, reflecting balanced capital allocation amid a stable but unspectacular quarter.