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UNAUDITED INTERIM CONDENSED COMBINED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Premiums        
Gross $ 1,504 $ 50 $ 1,819 $ 52
Ceded (81) 0 (82) 0
Net premiums 1,423 50 1,737 52
Other policy revenue 31 0 31 0
Net investment (loss) income (158) 39 (258) (24)
Net investment results from funds withheld (12) 0 73 0
Total revenues 1,284 89 1,583 28
Income from equity accounted investments 72 0 86 0
Gross 377 21 515 38
Ceded (93) (6) (96) (12)
Change in future policy benefits        
Gross 890 59 883 (34)
Ceded 17 5 40 19
Interest credited to policyholders' account balances 5 0 5 0
Commissions for acquiring and servicing policies 62 0 62 0
Changes in deferred acquisition costs (52) 0 (76) 0
Other reinsurance expenses 28 0 55 0
Operating expenses 81 7 98 10
Interest expense 34 0 43 0
Total benefits and expenses 1,349 86 1,529 21
Net income before income taxes 7 3 140 7
Income tax expense (6) (1) (11) (2)
Net income 1 2 129 5
Net income for the period $ (2) $ 0 $ (2) $ 0
Net income, basic (USD per share) $ 0.06 $ 0.00 $ 4.99 $ 0.00
Brookfield Asset Management Inc.        
Change in future policy benefits        
Net income for the period [1] $ 0 $ 2 $ 0 $ 5
Class A exchangeable and Class B shareholders        
Change in future policy benefits        
Net income for the period [2] 1 0 3 0
Class C shareholders        
Change in future policy benefits        
Net income for the period [2] $ 2 $ 0 $ 128 $ 0
Net income, basic (USD per share) [3] $ 0.06 $ 0 $ 4.99 $ 0
[1] For the periods prior to June 28, 2021. See Note 2(b).
[2] For the period June 28, 2021 onward. See Note 2(b).
[3] Basic earnings per share for the three and six months ended January 1, 2021 to June 28, 2021 are attributed to our predecessor company Brookfield Annuity Holdings Inc., which was a wholly owned subsidiary of Brookfield Asset Management Inc.