INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Expense (benefit)

A summary of the income tax (expense) benefit in the statements of income (loss) follows:

	Year Ended December 31,
	2022		2021		2020
	(in millions)
Income tax (expense) benefit:
Current (expense) benefit	$	—	$	—	$	40
Deferred (expense) benefit	21		24		(11)
Total	$	21	$	24	$	29

Schedule Of Effective Income Tax Rate Reconciliation

The sources of the difference and their tax effects are as follows:

	Year Ended December 31,
	2022		2021		2020
	(in millions)
Expected income tax (expense) benefit	$	23	$	23	$	8
Non-taxable investment income	2		1		1
Valuation allowance	(4)		—		—
Tax settlements/uncertain tax position release	—		—		8
Change in tax law	—		—		12
Income tax (expense) benefit	$	21	$	24	$	29

Schedule Of Net Deferred Income Taxes

The components of the net deferred income taxes are as follows:

	December 31,
	2022				2021
	Assets		Liabilities		Assets		Liabilities
	(in millions)
Net operating loss and credits	$	17	$	—	$	24	$	—
Reserves and reinsurance	258		—		215		—
DAC	—		80		—		74
Unrealized investment gains (losses)	82		—		—		27
Investments	—		132		—		131
Other	16		—		24		—
Valuation allowance	(85)		—		—		—
Total	$	288	$	212	$	263	$	232

Schedule Of Unrecognized Tax Benefits Reconciliation

A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows:

	2022		2021		2020
	(in millions)
Balance at January 1,	$	1	$	1	$	4
Additions for tax positions of prior years	—		—		—
Reductions for tax positions of prior years	—		—		(3)
Additions for tax positions of current year	—		—		—
Settlements with tax authorities	—		—		—
Balance at December 31,	$	1	$	1	$	1
Unrecognized tax benefits that, if recognized, would impact the effective rate	$	1	$	1	$	1