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Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Liabilities
Deferred and Current Tax Assets (Liabilities)
As of
June 30, 2024December 31, 2023
(in millions)
Net deferred tax assets (liabilities)$259 $250 
Net current tax assets (liabilities)7 (9)
Effective Tax Rate Reconciliation
A reconciliation of the difference between the provision for income taxes and the expected tax provision at statutory rates in taxable jurisdictions is presented below.

Effective Tax Rate Reconciliation  
 Second QuarterSix Months
 2024202320242023
 (in millions)
Expected tax provision (benefit)$16 $23 $39 $43 
Tax-exempt interest(2)(3)(4)(6)
NCI— — (1)(3)
State taxes1 4 3 7 
Foreign taxes(3)(4)2 1 
Global minimum tax2 — 7 — 
Other(1)(2)(2)(1)
Total provision (benefit) for income taxes$13 $18 $44 $41 
Effective tax rate14.5 %12.6 %18.6 %15.6 %
Pretax Income (Loss) by Tax Jurisdiction The following tables present pre-tax income and revenue by jurisdiction.
 
Pre-tax Income (Loss) by Tax Jurisdiction
 Second QuarterSix Months
 2024202320242023
 (in millions)
U.S.$87 $117 $216 $225 
Bermuda17 33 47 58 
U.K. (7)(4)(18)(15)
France(3)(2)(7)(4)
Total$94 $144 $238 $264 
Revenue by Tax Jurisdiction
Revenue by Tax Jurisdiction
 Second QuarterSix Months
 2024202320242023
 (in millions)
U.S.$166 $293 $370 $528 
Bermuda31 58 67 93 
U.K.5 8 11 21 
France— 1 (1)1 
Total$202 $360 $447 $643