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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Fee income and other $ 215 $ 246 $ 661 $ 746
Earned premiums 27 124 97 180
Net investment income 324 363 958 1,030
Net realized capital gains (losses):        
Total other-than-temporary impairment (“OTTI”) losses (2) (12) (16) (24)
OTTI losses recognized in other comprehensive income (OCI) 1 0 2 1
Net OTTI losses recognized in earnings 1 12 14 23
Other net realized capital gains (losses) (32) (19) (47) (122)
Total net realized capital gains (losses) (33) (31) (61) (145)
Total revenues 533 702 1,655 1,811
Benefits, losses and expenses        
Benefits, loss and loss adjustment expenses 352 405 1,024 1,096
Deferred Policy Acquisition Costs and Present Value of Future Profits, Amortization 7 81 25 100
Insurance operating costs and other expenses 103 124 304 365
Dividends to policyholders 0 0 0 1
Total benefits, losses and expenses 462 610 1,353 1,562
Income before income taxes 71 92 302 249
Income tax expense (12) 13 32 24
Net income $ 83 $ 79 $ 270 $ 225