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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Net investment income $ 428 $ 397 $ 822 $ 779
Fee income 176 175 341 349
Premiums 10 8 19 22
Broker-dealer commission revenue 0 27 1 68
Net realized capital gains (losses):        
Total other-than-temporary impairments (1) 0 (21) (9)
Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss) 0 1 0 1
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net (1) (1) (21) (10)
Other net realized capital gains (losses) (1) (82) (5) (160)
Total net realized capital gains (losses) (2) (83) (26) (170)
Other revenue 1 2 5 2
Total revenues 613 526 1,162 1,050
Benefits and expenses:        
Interest credited and other benefits to contract owners/policyholders 269 200 524 398
Operating expenses 193 178 410 286
Broker-dealer commission expense 0 27 1 68
Net amortization of Deferred policy acquisition costs and Value of business acquired 3 17 9 82
Total benefits and expenses 465 422 944 834
Income (loss) before income taxes 148 104 218 216
Income tax expense (benefit) 19 5 24 30
Net income (loss) $ 129 $ 99 $ 194 $ 186