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INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Assets    
Fixed maturity securities, at fair value $ 4,966,000,000 $ 5,024,000,000
Equity securities, at fair value (cost - June 30, 2023 - $0; December 31, 2022 - $201) 0 175,000,000
Mortgage and other loans, at fair value 229,000,000 196,000,000
Short-term investments 39,000,000 42,000,000
Other invested assets (includes $620 and $430 of assets measured at fair value at June 30, 2023 and December 31, 2022, respectively) 640,000,000 450,000,000
Total investments 5,874,000,000 5,887,000,000
Cash and cash equivalents 649,000,000 872,000,000
Accrued investment income 55,000,000 52,000,000
Reinsurance recoverables, at fair value 200,000,000 235,000,000
Net modified coinsurance receivable 0 18,000,000
Deposit asset, at fair value 476,000,000 607,000,000
Goodwill 93,000,000 93,000,000
Income tax 46,000,000 50,000,000
Other assets (Receivables from parent and affiliates: June 30, 2023 - $2; December 31, 2022 - $40) 83,000,000 127,000,000
Separate account assets, at fair value 24,065,000,000 23,601,000,000
Total assets 31,541,000,000 31,542,000,000
Liabilities:    
Insurance liabilities, at fair value 4,984,000,000 5,546,000,000
Net modified coinsurance payable 81,000,000 0
Other liabilities (Payables to parent and affiliates: June 30, 2023 - $7; December 31, 2022 - $3) 805,000,000 808,000,000
Separate account liabilities, at fair value 24,065,000,000 23,601,000,000
Total liabilities 29,935,000,000 29,955,000,000
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 9)
EQUITY    
Common stock, $100 par value; 25,000 shares authorized, issued and outstanding 3,000,000 3,000,000
Additional paid-in capital 1,714,000,000 1,759,000,000
Retained deficit (149,000,000) (286,000,000)
Accumulated other comprehensive income 38,000,000 111,000,000
Total equity 1,606,000,000 1,587,000,000
TOTAL LIABILITIES AND EQUITY $ 31,541,000,000 $ 31,542,000,000