Statutory Results (Tables)

12 Months Ended

Dec. 31, 2023

Statutory Accounting Practices Disclosure

Statutory net income (loss) and statutory capital for the Company's U.S. insurance subsidiaries are as follows:


	Successor Company						Predecessor Company
	For the Years Ended December 31,				For the Period of July 1, 2021 to December 31, 2021		For the Six Months Ended June 30, 2021
(In millions)	2023		2022		For the Period of July 1, 2021 to December 31, 2021		For the Six Months Ended June 30, 2021
Combined statutory net income (loss)	$	48	$	441	$	(426)	$	(2)


	Successor Company
	As of December 31,
	2023		2022
Statutory capital [1]	$	2,188	$	2,738

[1] The Company relies upon a prescribed practice allowed by Connecticut state laws that allow the Company to receive a reinsurance reserve credit for reinsurance treaties that provide for a limited right of unilateral cancellation by the reinsurer. The benefit from this prescribed practice was approximately $27 and $40 as of December 31, 2023 and 2022 (Successor Company), respectively.

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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