Brookfield Asset Management Inc.

Company Overview

Business Model: Brookfield Asset Management Ltd. is a leading global alternative asset manager focused on investing client capital for the long-term in real assets and essential service businesses across infrastructure, renewable power and transition, private equity, real estate, and credit strategies. The Company generates asset management income primarily through base management fees, incentive fees, and carried interest, aligning its interests with clients by investing its own capital alongside them. Revenue is diversified across long-term private funds, permanent capital vehicles and perpetual strategies, and liquid strategies.

Market Position: The Company is a leading global alternative asset manager with over $1 trillion of Assets Under Management and $603 billion in Fee-Bearing Capital as of December 31, 2025. It holds leading positions in infrastructure, renewable power and transition, real estate, and credit investment management. Its competitive advantages include deep operating expertise, global reach across more than 50 countries, large-scale flexible capital, and a comprehensive ecosystem that provides unique intelligence and sourcing capabilities. The Company offers over 55 unique active strategies spanning various risk-adjusted returns.

Recent Strategic Developments:

• Significant Fundraising: Raised over $110 billion in 2025, including over $10 billion for the second vintage of its global transition fund and fifth real estate flagship fund, $31.6 billion across its Oaktree Capital Management, L.P. franchise, $6.6 billion from other partner managers, $3.3 billion for the fourth vintage of its infrastructure debt fund, and $25.2 billion from Brookfield Wealth Solutions Ltd.
• AI Infrastructure Expansion: Launched a €20 billion infrastructure investment program in France, with €15 billion led by Data4 Luxembourg S.à.r.l. and €5 billion in associated AI infrastructure. Announced up to SEK 95 billion ($10 billion) investment in Sweden for AI infrastructure. Launched a $100 billion global AI Infrastructure program in partnership with NVIDIA and Kuwait Investment Authority, anchoring the Brookfield AI Infrastructure Fund with $5 billion of capital commitments. Formed a $20 billion joint venture with Qai, Qatar’s AI company, for AI infrastructure in Qatar and international markets.
• Strategic Acquisitions & Partnerships: Acquired a 51.3% economic interest in Angel Oak Companies, LLC for approximately $149 million. Agreed to acquire the remaining 26% interest in Oaktree Capital Management, L.P. for approximately $3 billion, expected to close in H1 2026. Partnered with Cameco and the U.S. Government to accelerate deployment of Westinghouse Electric Company's nuclear reactor technologies. Launched Brookfield Private Equity Fund, an evergreen semi-liquid fund for individual investors.
• Corporate Restructuring: Completed the 2025 Arrangement on February 4, 2025, whereby Brookfield Corporation transferred its approximate 73% interest in the asset management business to Brookfield Asset Management Ltd. in exchange for newly issued Class A Shares.
• Leadership Changes: Connor Teskey appointed Chief Executive Officer of Brookfield Asset Management Ltd. effective February 3, 2026, with Bruce Flatt continuing as Chair of the Board.

Geographic Footprint: Headquartered in New York, NY, with over 5,800 investment and asset management professionals and employees across 32 global offices. The Company invests on behalf of clients in more than 50 countries on five continents. The majority of its revenues are earned in the U.S.

Financial Performance

Revenue Analysis

Profitability Metrics (2025):

• Gross Margin (Fee-Related Earnings / Fee Revenues): 54.6%
• Operating Margin (Income before taxes / Total Revenue): 60.7%
• Net Margin (Net Income / Total Revenue): 49.8%

Investment in Growth (2025):

• R&D Expenditure: Not explicitly disclosed.
• Capital Expenditures: Not explicitly disclosed.
• Strategic Investments: Approximately $555 million in cash outflows for investments, including Oaktree Capital Management, L.P., Concora Super Holdco, L.P., Primary Wave, and Angel Oak Companies, LLC. Net investment increases of $682 million.

Business Segment Analysis

Infrastructure

Financial Performance (2025):

• Fee-Bearing Capital: $106,398 million (+10% YoY)
• Fee Revenues: $1,291 million (+7% YoY)
• Segment Earnings: $620 million (+3% YoY)
• Key Growth Drivers: Inflows from perpetual strategies ($2.9 billion), long-term private funds ($2.2 billion), and debt/equity issuances from Brookfield Infrastructure Partners L.P. ($730 million). Higher market capitalization of Brookfield Infrastructure Partners L.P. and favorable market valuations.

Product Portfolio:

• Long-term Private Funds: Brookfield Infrastructure Fund (flagship series), Brookfield AI Infrastructure Fund (AI infrastructure development), Brookfield Infrastructure Structured Solutions Fund (structured equity/non-control common equity in mid-market).
• Permanent Capital Vehicles and Perpetual Strategies: Brookfield Infrastructure Partners L.P. (publicly traded platform), Brookfield Super-Core Infrastructure Partners (perpetual private fund), Brookfield Infrastructure Income Fund (semi-liquid strategy for private wealth).
• Investments: Regulated/contracted utilities (electricity/gas connections, pipelines), transport systems (rail, toll roads, terminals), midstream assets (commodity movement/storage), data infrastructure (telecom towers, fiber optic, data centers).

Market Dynamics: Focus on high-quality real assets and operating businesses delivering essential goods and services, diversified across utilities, transport, midstream, and data infrastructure.

Renewable Power and Transition

Financial Performance (2025):

• Fee-Bearing Capital: $67,245 million (+16% YoY)
• Fee Revenues: $828 million (+29% YoY)
• Segment Earnings: $451 million (+30% YoY)
• Key Growth Drivers: Inflows from the second vintage of the flagship global transition fund ($5.4 billion), fundraising for the Catalytic Transition Fund ($1.8 billion), and higher market capitalization of Brookfield Renewable Partners L.P.

Product Portfolio:

• Long-term Private Funds: Brookfield Global Transition Fund (flagship series for net-zero carbon economy transition), Catalytic Transition Fund (clean energy/transition assets in emerging markets).
• Permanent Capital Vehicles and Perpetual Strategies: Brookfield Renewable Partners L.P. (publicly traded platform).
• Investments: Hydroelectric, utility-scale solar, distributed energy/storage, wind operations, sustainable solutions (nuclear services, renewable natural gas, carbon capture, recycling, sustainable aviation fuel).

Market Dynamics: Favorable investment environment driven by global demand for low-cost, low-carbon energy, especially from corporate off-takers.

Private Equity

Financial Performance (2025):

• Fee-Bearing Capital: $48,006 million (+6% YoY)
• Fee Revenues: $556 million (+18% YoY)
• Segment Earnings: $121 million (-25% YoY)
• Key Growth Drivers: Inflows from long-term private funds and co-investments ($5.3 billion), market valuation increases from Brookfield Business Partners L.P. due to higher share price. Segment Earnings decreased due to lower management fees from flagship funds and higher Segment Expenses.

Product Portfolio:

• Long-term Private Funds: Brookfield Capital Partners (global opportunistic flagship fund for industrial/essential service businesses), Brookfield Special Investments (structured, large-scale, non-control investments), Brookfield Financial Infrastructure Partners (asset-light financial infrastructure), Brookfield Middle East Partners (regional opportunistic investments), Pinegrove Ventures (venture capital).
• Permanent Capital Vehicles and Perpetual Strategies: Brookfield Business Partners L.P. (publicly traded global business services/industrials company), Brookfield Private Equity Fund (evergreen semi-liquid fund for individual investors).
• Investments: Service providers to infrastructure, operationally intense industrial businesses, essential services providers (mortgage insurer, telecom equipment distributor, automotive software, private school operators).

Market Dynamics: Focus on high-quality businesses providing essential products and services, diversified across business services and industrials sectors.

Real Estate

Financial Performance (2025):

• Fee-Bearing Capital: $101,682 million (+9% YoY)
• Fee Revenues: $1,090 million (+13% YoY)
• Segment Earnings: $603 million (+19% YoY)
• Key Growth Drivers: Inflows from opportunistic debt repayment within Brookfield Property Group ($5.6 billion), the fifth vintage of the flagship fund ($4.7 billion), co-investment capital, and other long-term private funds. Higher catch-up fees from follow-on closes.

Product Portfolio:

• Long-term Private Funds: Brookfield Strategic Real Estate Partners (opportunistic flagship fund for distressed assets, turnarounds, recapitalizations), Brookfield Real Estate Secondaries (liquidity solutions for GPs).
• Permanent Capital Vehicles and Perpetual Strategies: Brookfield Property Group (manages real estate assets for Brookfield Corporation), Brookfield Premier Real Estate Partners (core plus strategy), Brookfield Real Estate Income Trust (non-traded REIT for private wealth).
• Investments: High-quality retail destinations, full-service hotels/hospitality, multifamily, alternative living, life sciences, logistics, office properties in key gateway cities.

Market Dynamics: Investments in iconic properties in dynamic markets, aiming for stable/growing distributions and downside protection.

Credit

Financial Performance (2025):

• Fee-Bearing Capital: $279,383 million (+14% YoY)
• Fee Revenues: $1,726 million (+21% YoY)
• Segment Earnings: $701 million (+35% YoY)
• Key Growth Drivers: Capital deployed within long-term private funds and perpetual/liquid credit strategies ($24.5 billion), insurance capital inflows from Brookfield Wealth Solutions Ltd. ($22.5 billion), capital raised within partner managers ($3.7 billion), and market valuation increases.

Product Portfolio:

• Strategies: Global Opportunities (flagship opportunistic credit), Brookfield Infrastructure Debt (mezzanine debt in infrastructure/renewable power), Brookfield Real Estate Finance Fund (commercial real estate debt), tailored separately managed accounts.
• Partner Managers: Oaktree Capital Management, L.P., Castlelake Group TopCo L.P., Angel Oak Companies, LLC, LC Financial Holdings Limited, PWMP Ventures LLC, 17Capital LLP.
• Investments: Private Credit (directly sourced across various sectors), Opportunistic Credit (market dislocations), Structured Credit (asset-backed finance), Liquid Credit (public debt securities).

Market Dynamics: Provides flexible, specialized capital solutions to borrowers and attractive risk-adjusted returns across a range of debt strategies.

Capital Allocation Strategy

Shareholder Returns (2025):

• Share Repurchases: $412 million (6,548,561 Class A Shares purchased).
• Dividend Payments: $2.8 billion.
• Dividend Per Share: $1.75 (annualized for 2025). A quarterly dividend of $0.5025 per share was declared on February 4, 2026, representing a 15% increase YoY.
• Dividend Yield: Approximately 4.0% (based on $2.01 annualized dividend and average repurchase price of $50.25).
• Future Capital Return Commitments: New share repurchase program authorized on January 9, 2026, to purchase up to 36.9 million Class A Shares (approx. 10% of public float) by January 12, 2027.

Balance Sheet Position (as of December 31, 2025):

• Cash and Equivalents: $1,583 million
• Total Debt: $2,940 million (Corporate borrowings of $2,478 million + Borrowings of consolidated funds of $462 million)
• Net Cash Position: -$1,357 million (Net Debt)
• Credit Rating: Not disclosed.
• Debt Maturity Profile: Senior unsecured notes due 2030 ($600 million, 4.653%), 2035 ($750 million, 5.795%), 2036 ($400 million, 5.298%), and 2055 ($750 million, 6.077%). Revolving credit facilities of $1.05 billion undrawn.

Cash Flow Generation (2025):

• Operating Cash Flow: $2.1 billion
• Free Cash Flow: Not explicitly stated.
• Cash Conversion Metrics: Not explicitly stated.

Operational Excellence

Production & Service Model: Brookfield Asset Management Ltd. leverages its heritage as an owner and operator, supported by approximately 250,000 operating employees of its managed businesses. The Company maintains a culture of long-term focus, alignment of interest, and collaboration. Its operations team is fully integrated with investment teams, working from due diligence through execution and monetization to enhance value and cash flows.

Supply Chain Architecture: Not explicitly detailed as a separate architecture.

Key Suppliers & Partners:

• Investment Partners: NVIDIA, Kuwait Investment Authority (KIA), Qai (Qatar's AI company, subsidiary of Qatar Investment Authority), Cameco (partner in Westinghouse Electric Company).
• Technology Partners: Relies on third-party service providers for technology and information systems, including cloud-based software services.

Facility Network:

• Principal Executive Office: Brookfield, 225 Liberty Street, 8th Floor, New York, NY.
• Other Offices: Leases space for other offices in North America, South America, Europe, Middle East, and Asia-Pacific.
• Manufacturing/R&D/Distribution: Not explicitly detailed for Brookfield Asset Management Ltd. itself, but its managed assets include diverse operational facilities globally.

Operational Metrics:

• Total Employees (investment and asset management professionals): Over 5,800
• Client Service Professionals: Over 300
• Private Wealth Channel Professionals: Approximately 150
• Operating Employees of Managed Businesses: Approximately 250,000 globally.

Market Access & Customer Relationships

Go-to-Market Strategy:

• Distribution Channels: Offers a range of alternative investment products to over 2,400 institutional clients globally. Actively developing and distributing catered products to the private wealth channel, which has grown to approximately 60,000 clients representing over 8% of capital raised.
• Direct Sales: Leverages its team of investment and asset management professionals and client service professionals.
• Channel Partners: Distributes unregistered funds to retail investors indirectly through third-party managed vehicles sponsored by brokerage firms, private banks, or feeder providers.

Customer Portfolio:

• Institutional Customers: Public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies.
• Private Wealth Investors: High net worth individuals and mass affluent investors.
• Customer Concentration: Not explicitly detailed, but states a diverse client base of over 2,400 clients, including some of the world's largest institutional investors.

Geographic Revenue Distribution (2025 Fee Revenues):

• United States: $1,291 million
• United Kingdom: $862 million
• Canada: $779 million
• Other: $515 million

Competitive Intelligence

Market Structure & Dynamics

Industry Characteristics: The Company operates in the global alternative asset management industry, characterized by increasing investor demand for diversification and innovative solutions. The market is competitive, with fund managers increasingly adopting strategies outside their traditional focus. Consolidation among institutional fund investors favors established firms.

Competitive Positioning Matrix (2025):

Direct Competitors

Primary Competitors: The Company competes with "many other firms" in fundraising, investment opportunities, and talent acquisition. Competition is based on investment performance, investor perception, reputation, service quality, pricing, fund terms, and attractiveness of investments.

Emerging Competitive Threats: New entrants, disruptive technologies (e.g., AI), and alternative solutions. Investors may insource investments or reduce allocations to alternatives.

Competitive Response Strategy: Continuously innovate new strategies to meet client needs, deepen and develop new institutional relationships, access new distribution channels (e.g., high net worth individuals and private wealth investors), and consider strategic M&A opportunities that expand capabilities and are accretive to shareholders.

Risk Assessment Framework

Strategic & Market Risks

• Market Dynamics: Volatility in Class A Shares trading price due to market conditions, operating performance, regulatory changes, and general economic/political/social conditions.
• Technology Disruption: Failure to adopt AI effectively, or inappropriate use of AI by employees/third parties, could lead to competitive disadvantage, inaccurate outputs, or misuse of data.
• Customer Concentration: Not explicitly detailed as a concentration risk, but general risk of inability to attract/retain investor capital.
• Economic Conditions: Exposure to local, regional, national, and international economic conditions (interest rates, inflation, credit/capital market volatility, business investment, government spending, sovereign debt, consumer spending, trade barriers, supply chain disruptions, commodity prices, currency exchange rates, political circumstances, catastrophic events).
• Interest Rate Fluctuations: Further increases could decrease asset values, breach credit agreement covenants, increase interest costs, and impact debt financing availability/cost.
• Inflationary Pressures: Could impact managed assets, ability to source investments, match prior performance, and secure attractive debt financing.

Operational & Execution Risks

• Supply Chain Vulnerabilities: Not explicitly detailed as a risk category for Brookfield Asset Management Ltd. itself, but managed assets rely on free movement of goods/services/capital.
• IT System Failure: Reliance on technology and information systems (many by third parties) creates risk of cyber-terrorism, attacks, data breaches, and system failures, potentially leading to financial loss, reputational damage, and legal/regulatory actions.
• Acquisition Risks: Difficulty integrating acquired operations, disruption of current operations, diversion of resources, managing growth of larger organization, entering new markets, labor/commercial/regulatory disputes, environmental liabilities, change of control triggers.
• Temporary Investments/Backstop Commitments: Inability to syndicate, assign, or transfer temporary commitments could impact liquidity and ability to meet other financial commitments.
• Investment Performance: Poor product development or marketing efforts could adversely impact Fee-Bearing Capital growth. Inappropriate capital allocation or ineffective investment management could lead to lower returns.
• Cash Flow Management: Insufficient cash flow to meet financial obligations or capitalize on investment opportunities due to debt financing risks, illiquid assets, or inability to refinance.
• Legal Disputes: Involvement in various legal actions (personal injury, property damage, taxes, land rights, contract disputes) could adversely impact financial performance and reputation.
• Insurance Coverage: Potential for large losses not covered by insurance policies, including catastrophic events or certain types of risk (war, environmental contamination).
• Inability to Collect: Third parties (deal/trading counterparties, governmental agencies, customers, financial intermediaries, private fund investors) may default on payment obligations.

Financial & Regulatory Risks

• Regulatory & Compliance: Subject to numerous and increasing regulatory compliance obligations and oversight (SEC, FINRA, Investment Advisers Act, Investment Company Act, anti-bribery/corruption laws, trade sanctions, foreign direct investment restrictions, data privacy laws like GDPR). Non-compliance can lead to financial penalties, loss of business, reputational damage, and increased costs.
• Taxation: Changes in U.S. and Canadian tax laws, reassessments by tax authorities, or classification as a passive foreign investment company (PFIC) could create additional tax costs or adverse consequences for shareholders.

Geopolitical & External Risks

• Geopolitical Exposure: Subject to geopolitical uncertainties in all operating jurisdictions, including political instability, changes in government policies, tariffs, trade protectionism, military conflict, terrorism, and civil unrest.
• Catastrophic Events: Exposure to severe weather, natural disasters, major accidents, pandemics/epidemics, climate change, military conflict/war, or terrorism/sabotage, which could materially impact operations and financial performance.

Innovation & Technology Leadership

Research & Development Focus:

• Core Technology Areas: Actively progressing new organic growth strategies in AI infrastructure.
• Innovation Pipeline: Developing AI infrastructure solutions to meet growing demand from hyperscalers, enterprises, and governments.

Intellectual Property Portfolio:

• Patent Strategy: Not explicitly detailed.
• Licensing Programs: Brookfield Asset Management Ltd. has a non-exclusive, royalty-free license to use the name "Brookfield" and the "Brookfield" logo from Brookfield Corporation.
• IP Litigation: Not explicitly detailed.

Technology Partnerships:

• Strategic Alliances: Partnership with NVIDIA and Kuwait Investment Authority for a $100 billion global AI Infrastructure program. Strategic partnership with Qai (Qatar's AI company) for a $20 billion joint venture focused on AI infrastructure in Qatar and international markets.

Leadership & Governance

Executive Leadership Team

Leadership Continuity: The Company emphasizes developing executives from within and has a tailored approach to talent development and succession planning. The GNCC assesses succession candidates annually.

Board Composition (as of February 23, 2026):

• Total Directors: 12
• Independent Directors: 7 (58%)
• Women Directors: 4 (33%)
• Ethnically Diverse Directors: 2 (17%)
• Chair of the Board: Bruce Flatt (non-independent, also CEO of Brookfield Corporation).
• Lead Independent Director: Marcel R. Coutu.
• Committees: Audit Committee and Governance, Nominating and Compensation Committee (GNCC) are fully comprised of independent directors.

Human Capital Strategy

Workforce Composition (as of December 31, 2025):

• Total Employees (investment and asset management professionals): Over 5,800
• Total Operating Employees (of managed businesses): Approximately 250,000
• Geographic Distribution (investment and asset management professionals): Greater than 50% in the U.S.
• Geographic Distribution (full-time operating employees): North America (35%), South America (15%), Europe (20%), Asia-Pacific (20%), Other (10%).
• Skill Mix: Includes individuals focused on core investment strategies, corporate activities, and dedicated operations professionals with extensive business leadership experience.

Talent Management:

• Acquisition & Retention: Focus on attracting and retaining highly qualified and motivated executives who embrace a long-term focus and the Company's values of collaboration, discipline, and entrepreneurship. Compensation programs link a significant portion of employee rewards to successful investment outcomes and long-term equity appreciation.
• Retention Metrics: Not explicitly disclosed, but long-term incentive awards with 5-year vesting periods and forfeiture terms for departing executives are key retention mechanisms.
• Employee Value Proposition: Compensation philosophy emphasizes long-term equity compensation, high share ownership requirements for executives (five times base salary), and a culture of collaboration and entrepreneurship.

Diversity & Development:

• Diversity Metrics: Board has 33% women and 17% ethnically diverse directors.
• Development Programs: Provides a wide range of development opportunities, including exposure to new competencies, transfers between business units, relocations, and role expansions. Annual review of individual progress.
• Culture & Engagement: Firm-wide culture built on mutual respect, teamwork, and passion, underpinned by collaboration, entrepreneurship, and discipline.

Environmental & Social Impact

Environmental Commitments:

• Climate Strategy: Sustainability Policy integrates sustainability into decision-making. Focus on mitigating operational environmental impact, accelerating the global transition to a net-zero carbon economy, expanding low-carbon and renewable energy production, and advancing sustainable solutions.
• Emissions Targets: Not explicitly detailed, but the Brookfield Global Transition Fund focuses on investments aimed at reducing carbon dioxide emissions.
• Carbon Neutrality: Net-zero carbon economy transition is a strategic focus.
• Renewable Energy: Significant investor in renewable power and transition investments.

Supply Chain Sustainability:

• Supplier Engagement: Not explicitly detailed.
• Responsible Sourcing: Not explicitly detailed.

Social Impact Initiatives:

• Community Investment: Not explicitly detailed.
• Product Impact: Focus on promoting the well-being and safety of its workforce.

Business Cyclicality & Seasonality

Demand Patterns:

• Seasonal Trends: Not explicitly detailed.
• Economic Sensitivity: Revenues and asset values are exposed to local, regional, national, and international economic conditions, including interest rates, inflation, and credit/capital market volatility. Long-life assets are interest rate sensitive.
• Industry Cycles: Credit strategies are particularly sensitive to economic environments, with weak economic conditions often presenting investment opportunities. The composition of revenues varies based on market conditions and the cyclical nature of its businesses.

Planning & Forecasting: The Company's business plan incorporates both short-term and long-term growth objectives, with annual reviews and adjustments based on the global economic climate.

Regulatory Environment & Compliance

Regulatory Framework:

• Industry-Specific Regulations: Subject to extensive and increasing regulatory compliance obligations and oversight from various bodies including the SEC, Canadian provincial/territorial securities commissions, FINRA, Investment Advisers Act of 1940, and Investment Company Act. Managed assets must comply with municipal, state/provincial, national, and international laws and regulations.
• International Compliance: Regulated in jurisdictions including the E.U., U.K., Canada, Brazil, Colombia, Australia, India, and South Korea. Subject to anti-bribery and corruption laws (e.g., FCPA, U.K. Bribery Act 2010, Canadian Corruption of Foreign Public Officials Act) and trade sanctions laws (e.g., OFAC, E.U. sanctions). Also subject to foreign direct investment restrictions (e.g., U.S. Foreign Investment Risk Review Modernization Act).
• Data Privacy: Subject to data protection and privacy rules globally, such as the European General Data Protection Regulation (GDPR).

Trade & Export Controls:

• Export Restrictions: Compliance with trade and economic sanctions, including those targeting Russia.
• Sanctions Compliance: Compliance with sanctions imposed by the U.S. and other countries.

Legal Proceedings: No material outstanding litigation or claims as of December 31, 2025.

Tax Strategy & Considerations

Tax Profile:

• Effective Tax Rate (2025): 18%
• Current Tax Expense (2025): $376 million (U.S. $122 million, Canada $34 million, Other $216 million)
• Deferred Tax Expense (2025): $151 million (U.S. $34 million, Canada $72 million, Other $45 million)
• Income Taxes Paid (2025): $426 million (U.S. $190 million, Canada $128 million, U.K. $98 million, Other $10 million)

Geographic Tax Planning: Operates in countries with differing tax laws and rates. International tax structure and transfer pricing are subject to audit. Tax Reform Impact: Governments globally are increasing regulation of multinational companies and their use of differential tax rates, including the OECD/G20 Inclusive Framework on BEPS.

Insurance & Risk Transfer

Risk Management Framework:

• Insurance Coverage: Carries various insurance policies for business activities, but policies may not provide sufficient coverage for all potential material losses. Certain catastrophic risks (e.g., war, environmental contamination) may be uninsurable or not economically insurable.
• Risk Transfer Mechanisms: May selectively utilize financial instruments (e.g., credit default swaps, derivatives) to manage market exposures, but a significant portion of risks may remain unhedged.
• D&O Insurance: Carries directors' and officers' liability insurance, which may not be adequate or available in all circumstances.
• Group Policies: May enter into group insurance policies, which could impact other entities covered.