Income Tax Level 3 (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Provision for Income Taxes
	Successor Company						Predecessor Company
	For the Years Ended December 31,				June 1, 2018 to December 31, 2018		January 1, 2018 to May 31, 2018
Income Tax Expense (Benefit)	2020		2019
Current  - U.S. Federal	$	10	$	(8)	$	(15)	$	1
Deferred - U.S. Federal	56		52		74		6
Total income tax expense	$	66	$	44	$	59	$	7

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Components of Deferred Tax Assets (Liabilities)
	Successor Company
	As of December 31,
	2020		2019
Deferred Tax Assets
Tax basis deferred policy acquisition costs	$	79	$	60
Unearned premium reserve and other underwriting related reserves	1		4
VOBA and reserves	567		557
Net operating loss carryover	102		166
Employee benefits	7		4
Foreign tax credit carryover	18		13
Deferred reinsurance gain	198		210
Other	11		15
Total deferred tax assets	983		1,029
Deferred Tax Liabilities
Investment related items	(145)		(150)
Net unrealized gain on investments	(360)		(198)
Total deferred tax liabilities	(505)		(348)
Net deferred tax assets	$	478	$	681

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the tax provision at the U.S. Federal statutory rate to the provision (benefit) for income taxes is as follows:

	Successor Company						Predecessor Company
	For the Years Ended December 31,				June 1, 2018 to December 31, 2018		January 1, 2018 to May 31, 2018
	2020		2019
Tax provision at the U.S. federal statutory rate	$	98	$	86	$	98	$	21
Dividends received deduction ("DRD")	(28)		(34)		(37)		(12)
Foreign related investments	(4)		(7)		(4)		(3)
Tax reform	—		—		—		(2)
Other			(1)		2		3
Provision for income taxes	$	66	$	44	$	59	$	7