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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Provision for Income Taxes
 Successor CompanyPredecessor Company
As Restated
For the Year Ended December 31, 2022For the Period of July 1, 2021 to December 31, 2021For the Six Months Ended June 30, 2021For the Year Ended December 31, 2020
Income Tax Expense (Benefit)
Current - U.S. Federal$(18)(86)$— $10 
Deferred - U.S. Federal56 137 30 56 
 Total income tax expense$38 $51 $30 $66 
Schedule of Deferred Tax Assets and Liabilities
Deferred tax assets and liabilities on the Consolidated Balance Sheets represent the tax consequences of differences between the financial reporting and tax basis of assets and liabilities.
Components of Deferred Tax Assets (Liabilities)
Successor Company
As Restated
December 31, 2022December 31, 2021
Deferred Tax Assets
Tax basis deferred policy acquisition costs$129 $110 
VOBA and reserves415 716 
Net operating loss carryover1 25 
Employee benefits4 7 
Foreign tax credit carryover16 16 
Net unrealized loss on investments703 4 
Deferred reinsurance gain231 187 
 Total deferred tax assets1,499 1,065 
Deferred Tax Liabilities
Investment related items(366)(449)
Other(13)(13)
 Total deferred tax liabilities(379)(462)
 Net deferred tax asset$1,120 $603 
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the tax provision at the U.S. Federal statutory rate to the provision (benefit) for income taxes is as follows.
Income Tax Rate Reconciliation
 Successor CompanyPredecessor Company
As Restated
For the Year Ended December 31, 2022For the Period of July 1, 2021 to December 31, 2021For the Six Months Ended June 30, 2021For the Year Ended December 31, 2020
 
Tax provision at U.S. Federal statutory rate$83 $70 $45 $98 
Dividends received deduction ("DRD")(38)(16)(14)(28)
Foreign related investments(7)(2)(1)(4)
Other— (1)— — 
Provision for income taxes$38 $51 $30 $66