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Audited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss) $ 356,000 $ (286,000) $ (4,000) $ 4,965,000
Adjustments to reconcile net income (loss) to net cash from (used in) operating activities:        
Investment (gains) losses, net (481,000) 1,907,000 310,000 (7,489,000)
Goodwill impairment 0 0 93,000 0
Interest credited to policyholders’ account balances 85,000 0 0 640,000
Other, net 2,000 (24,000) (30,000) 3,000
Change in:        
Insurance liabilities, at fair value 0 (7,751,000) (568,000) 0
Deposit asset, at fair value 0 1,989,000 169,000 0
Net modified coinsurance receivable, at fair value 0 4,685,000 587,000 0
Future policy benefits 60,000 0 0 642,000
Accrued investment income 1,000 (21,000) (11,000) 60,000
Deferred policy acquisition costs 104,000 0 0 3,466,000
Income taxes 142,000 184,000 (9,000) 896,000
Reinsurance recoverables (39,000) 15,000 29,000 (33,000)
Derivatives, net (1,079,000) (220,000) (584,000) (2,623,000)
Other, net (40,000) (14,000) 3,000 (1,223,000)
Cash flows from (used in) operating activities (889,000) 464,000 (15,000) (696,000)
Proceeds from the sale/maturity/prepayment of:        
Fixed maturity securities, at fair value 0 3,362,000 500,000 0
Fixed maturities, available-for-sale 422,000 0 0 9,400,000
Fixed maturities, trading 0 0 0 2,086,000
Equity securities 95,000 0 0 56,000
Secured receivable 0 60,000 0 0
Mortgage and other loans 39,000 6,000 116,000 338,000
Other invested assets 1,000 4,000 387,000 53,000
Short-term investments 795,000 301,000 94,000 464,000
Payments for the purchase/origination of:        
Fixed maturity securities, at fair value 0 (4,312,000) (783,000) 0
Fixed maturities, available-for-sale (751,000) 0 0 (5,833,000)
Fixed maturities, trading 0 0 0 (5,392,000)
Equity securities 0 (11,000) 0 (101,000)
Secured receivable 0 (7,000) 0 0
Mortgage and other loans (13,000) (203,000) (369,000) (1,267,000)
Other invested assets 0 (345,000) (52,000) (225,000)
Short-term investments (94,000) (42,000) (88,000) (1,023,000)
Notes receivable from parent and affiliates, net 0 0 0 51,000
Derivatives, net 3,000 0 0 (84,000)
Other, net 0 (1,000) 3,000 0
Cash flows from (used in) investing activities 497,000 (1,188,000) (192,000) (1,477,000)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Net Policyholder's account deposits (withdrawals) 62,000 (176,000) (197,000) 4,602,000
Cash collateral for loaned securities 205,000 (99,000) (106,000) 0
Repayments of debt (maturities longer than 90 days) 0 0 0 (300,000)
Net decrease in short-term borrowing 0 0 0 (120,000)
Drafts outstanding (7,000) (7,000) 19,000 (3,000)
Distribution to parent (306,000) 0 (45,000) (1,057,000)
Repurchase agreements 0 300,000 604,000 0
Other, net 0 0 0 (2,000)
Cash flows from (used in) financing activities (46,000) 18,000 275,000 3,120,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (438,000) (706,000) 68,000 947,000
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,016,000 1,578,000 872,000 1,069,000
CASH AND CASH EQUIVALENTS, END OF YEAR $ 1,578,000 872,000 940,000 2,016,000
SUPPLEMENTAL CASH FLOW INFORMATION        
Income taxes paid (refund)   (217,000) 4,000 398,000
Interest paid   $ 0 $ 2,000 $ 8,000