RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Affiliated Asset Transfer

The table below shows affiliated asset trades for the six months ended June 30, 2023.

Affiliate	Date	Transaction	Security Type	Fair Value		Book Value		Investment Gains (Losses), Net
				(in millions)
Fortitude Re Investments, LLC	May 2023	Sale	Limited Partnership	$	12	$	12	$	—
Fortitude Re Investments, LLC	May 2023	Sale	Limited Partnership	7		7		—

The table below shows affiliated asset trades for the three months ended March 31, 2022.

Affiliate	Date	Transaction	Security Type	Fair Value		Book Value		Realized Investment Gain (Loss)
				(in millions)
Pruco Life	January 2022	Sale	Fixed Maturity Securities	4		5		(1)
Prudential Financial	January 2022	Sale	Commercial Mortgage Loan	29		30		(1)
Pruco Life	January 2022	Sale	Derivatives	—		—		—
Pruco Life	February 2022	Sale	Fixed Maturity Securities	129		138		(9)
Prudential Financial	March 2022	Sale	Fixed Maturity Securities	$	33	$	33	$	—

Reinsurance Impact On Income Statement

Reinsurance amounts, included in the Predecessor Company’s Unaudited Interim Statements of Operations and Comprehensive Income (Loss), were as follows:

	Three Months Ended March 31
	2022
	(in millions)
Premiums:
Direct	$	9
Ceded	(1)
Net premiums	8
Policy charges and fee income:
Direct	102
Ceded	(5)
Net policy charges and fee income	97
Asset management and service fees:
Direct	22
Ceded	(2)
Net asset management and service fees	20
Realized investment gains (losses), net:
Direct	312
Ceded	169
Realized investment gains (losses), net	481
Policyholders' benefits (including change in reserves):
Direct	31
Ceded	(5)
Net policyholders' benefits (including change in reserves)	26
Interest credited to policyholders’ account balances:
Direct	91
Ceded	(6)
Net interest credited to policyholders’ account balances	85
Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization	(41)