INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary Of Income Tax Expense (benefit)

A summary of the income tax (expense) benefit in the statements of income (loss) follows:

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Income tax (expense) benefit:
Current (expense) benefit	$	—	$	40	$	(1)
Deferred (expense) benefit	5		(11)		14
Total	$	5	$	29	$	13

Schedule Of Effective Income Tax Rate Reconciliation

The sources of the difference and their tax effects are as follows:

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Expected income tax (expense) benefit	$	4	$	8	$	12
Non-taxable investment income	1		1		1
Tax settlements/uncertain tax position release	—		8
Change in tax law	—		12
Income tax (expense) benefit	$	5	$	29	$	13

Schedule Of Net Deferred Income Taxes

The components of the net deferred income taxes are as follows:

	December 31,
	2021				2020
	Assets		Liabilities		Assets		Liabilities
	(in millions)
Net operating loss and credits	24		—		7		—
Reserves and reinsurance	193		—		189		—
DAC	—		66		—		43
Unrealized investment gains (losses)	—		27		—		52
Investments	—		131		—		128
Other	24		—		24		—
Total	$	241	$	224	$	220	$	223

Unrecognized Tax Benefits Reconciliation

A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows:

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Balance at January 1,	$	1	$	4	$	4
Additions for tax positions of prior years	—		—		—
Reductions for tax positions of prior years	—		(3)		—
Additions for tax positions of current year	—		—		—
Settlements with tax authorities	—		—		—
Balance at December 31,	$	1	$	1	$	4
Unrecognized tax benefits that, if recognized, would impact the effective rate	$	1	$	1	$	4