SIGNIFICANT TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2021

Insurance [Abstract]

Summary of fair values of the net assets acquired

The following table details the final allocation of assets acquired and liabilities assumed from the Individual Life Business reinsurance transaction as of the date of the GWL&A Closing.

	Fair Value
	As of
	June 1, 2019
	(Dollars In Millions)
Assets
Fixed maturities	$	8,698
Commercial mortgage loans		1,386
Policy loans		44
Other long-term investments		1,522
Total investments		11,650
Cash		35
Accrued investment income		101
Reinsurance receivables		—
Accounts and premiums receivable		2
Value of business acquired		535
Other intangibles		21
Other assets		6
Assets related to separate accounts		9,583
Total assets	$	21,933
Liabilities
Future policy benefits and claims	$	11,022
Annuity account balances		220
Other policyholders' funds		220
Other liabilities		75
Liabilities related to separate accounts		9,583
Total liabilities		21,120
Net assets acquired	$	813

Pro forma information

The following unaudited pro forma condensed consolidated results of operations assumes that the aforementioned transactions of the Individual Life Business were completed as of January 1, 2018. The unaudited pro forma condensed results of operations are presented solely for informational purposes and are not necessarily indicative of the consolidated condensed results of operations that might have been achieved had the transaction been completed as of the date indicated:

	Unaudited
	For The Year Ended
	December 31,
	(Recast)
	2019		2018
	(Dollars In Millions)
Revenue	$	6,165	$	5,592
Net income	$	444	$	253