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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, 2023
Dec. 31, 2022
Revenues          
Premiums (related party: $(56), $(27), $— , and $—)   $ 26 $ 24 $ 88 $ 99
Policy charges and fee income (related party: $(304), $(320), $— , and $—)   434 438 646 509
Net investment income (related party: $(380), $(136), $—, and $—)   498 534 590 778
Investment and derivative related losses, net (related party: $361, $696, $— , and $—)   (50) (242) (929) (76)
Total revenues   908 754 395 1,310
Benefits, Losses and Expenses          
Benefits and losses (remeasurement loss (gain): $(17), $10, $14, and $—) (related party: $(276), $(117), $— , and $— )   161 349 307 521
Change in market risk benefits (related party: $77, $4,$—, and $—)   2 0 (305) (295)
Amortization of value of business acquired and deferred acquisition costs (related party: $14, $19, $—, and $—)   24 (43) 55 61
Insurance operating costs and other expenses (related party: $(136), $(119), $—, and $—)   212 232 334 301
Total benefits, losses and expenses   399 538 391 588
Income before income taxes   509 216 4 722
Provision for income taxes   88 30 (39) 107
Net income $ 421 $ 421 $ 186 $ 43 $ 615