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Consolidated Statements of Operations - USD ($)
$ in Millions
6 Months Ended 12 Months Ended
Dec. 31, 2021
Jun. 30, 2021
Dec. 31, 2022
Dec. 31, 2020
Revenues        
Policy charges and fee income $ 410 $ 438 $ 506 $ 741
Premiums 31 24 109 35
Net investment income 498 534 778 816
Net realized capital gains (losses) (20) (242) 317 (74)
Amortization of deferred gains 0 26 33 53
Total revenues 919 780 1,743 1,571
Benefits, losses and expenses        
Benefits and losses 285 375 637 626
Amortization of value of business acquired ("VOBA") and deferred acquisition costs ("DAC") 90 (43) 79 50
Insurance operating costs and other expenses 208 228 294 364
Other intangible asset amortization 3 3 6 6
Dividends to policyholders 2 1 3 60
Total benefits, losses and expenses 588 564 1,019 1,106
Income before income taxes 331 216 724 465
Provision for income taxes 51 30 107 66
Net income $ 280 $ 186 $ 617 $ 399