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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Earned premiums $ 1,882 $ 1,669 $ 5,345 $ 4,806
Investment income, net of expenses 193 179 573 528
Investment gains and losses, net (674) (70) (2,494) 954
Fee revenues 5 4 12 11
Other revenues 2 3 7 8
Total revenues 1,408 1,785 3,443 6,307
Benefits and Expenses        
Insurance losses and contract holders' benefits 1,418 1,072 3,766 2,990
Underwriting, acquisition and insurance expenses 551 511 1,604 1,440
Interest expense 14 13 40 39
Other operating expenses 4 5 13 14
Total benefits and expenses 1,987 1,601 5,423 4,483
Income (Loss) Before Income Taxes (579) 184 (1,980) 1,824
Provision (Benefit) for Income Taxes        
Current 19 55 90 166
Deferred (180) (24) (571) 182
Total provision (benefit) for income taxes (161) 31 (481) 348
Net Income (Loss) $ (418) $ 153 $ (1,499) $ 1,476
Per Common Share        
Net income (loss)—basic $ (2.64) $ 0.95 $ (9.41) $ 9.16
Net income (loss)—diluted $ (2.64) $ 0.94 $ (9.41) $ 9.07