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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Net investment income $ 1,722 $ 1,482 $ 1,523
Fee income 1,336 1,136 993
Premiums 1 9 29
Realized capital gains (losses) (132) (44) (134)
Other Nonoperating Income (Expense) 73 65 18
Total revenues 3,000 2,648 2,429
Benefits and expenses:      
Interest credited and other benefits to contract owners/policyholders 873 770 817
Operating expenses 1,332 1,160 1,133
Net amortization of DAC and VOBA 102 73 76
Interest expense 2 2 3
Total benefits and expenses 2,309 2,005 2,029
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 691 643 400
Income tax expense 97 57 13
Net income $ 594 $ 586 $ 387