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Consolidated Statements of Operations - USD ($)
$ in Millions
6 Months Ended 12 Months Ended
Dec. 31, 2021
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 losses   (20) (242) (10) (74)
Amortization of deferred gains   0 26 33 53
Total revenues   919 780 1,416 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   331 216 397 465
Provision for income taxes $ 51 51 30 38 66
Net income $ 280 $ 280 $ 186 $ 359 $ 399