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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Gross premiums and policy fees $ 1,054 $ 1,045 $ 3,175 $ 2,950
Reinsurance ceded (311) (287) (954) (683)
Net premiums and policy fees 743 758 2,221 2,267
Net investment income 753 740 2,215 2,236
Realized gains (losses) 67 111 161 (224)
Other income 89 115 277 354
Total revenues 1,652 1,724 4,874 4,633
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and nine months 2021 - $394 and $1,074; three and nine months 2020 - $246 and $565) 1,350 1,259 3,748 3,737
Amortization of deferred policy acquisition costs and value of business acquired 91 110 233 145
Other operating expenses, net of reinsurance ceded: (three and nine months 2021 - $54 and $162; three and nine months 2020 - $52 and $171) 152 195 506 576
Total benefits and expenses 1,593 1,564 4,487 4,458
Income before income tax 59 160 387 175
Income tax expense 10 29 74 31
Net income $ 49 $ 131 $ 313 $ 144