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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Earned premiums $ 1,943 $ 1,773 $ 3,861 $ 3,466
Investment income, net of expenses 220 195 430 380
Investment gains and losses, net 434 (1,154) 540 (1,820)
Fee revenues 6 3 10 7
Other revenues 2 3 5 5
Total revenues 2,605 820 4,846 2,038
Benefits and Expenses        
Insurance losses and contract holders' benefits 1,340 1,322 2,738 2,354
Underwriting, acquisition and insurance expenses 579 533 1,135 1,053
Interest expense 13 13 27 26
Other operating expenses 7 5 12 9
Total benefits and expenses 1,939 1,873 3,912 3,442
Income (Loss) Before Income Taxes 666 (1,053) 934 (1,404)
Provision (Benefit) for Income Taxes        
Current 51 30 67 71
Deferred 81 (265) 108 (391)
Total provision (benefit) for income taxes 132 (235) 175 (320)
Net Income (Loss) $ 534 $ (818) $ 759 $ (1,084)
Per Common Share        
Net income (loss)—basic $ 3.40 $ (5.12) $ 4.83 $ (6.77)
Net income (loss)—diluted $ 3.38 $ (5.12) $ 4.80 $ (6.77)