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UNAUDITED INTERIM CONDENSED COMBINED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 129 $ 5
Non-cash items affecting net income    
Premiums received in kind (910) 0
Amortization and accretion on investments 3 0
Depreciation expense 3 0
Unrealized losses on investments and derivatives 525 63
Effect of foreign exchange rates 2 0
Income tax expense 11 2
Income from equity accounted investments (86) 0
Interest credited to policyholders' account balances 5 0
Net capitalized interest on policy loans and mortgage loans (2) 0
Realized gain on derivatives 1 0
Changes in non-cash balances related to operations    
Changes in premiums due and other receivables 14 0
Changes in reinsurance funds withheld (213) 0
Changes in deferred tax asset (3) 0
Changes in reinsurance assets 40 19
Changes in future policy benefits 970 (34)
Charges to policyholders’ account balances (31) 0
Changes in accrued investment income (124) 0
Changes in deferred acquisition costs (76) 0
Changes in working capital and other 203 (11)
Operating activities affecting cash    
Income tax paid (40) 0
Realized gains on investments and derivatives (70) (14)
Purchase of derivatives (27) 0
Sales of derivatives 34 0
Dividend income received (77) 0
Cash flows from operating activities 281 30
Investing activities    
Cash flows used in obtaining control of subsidiaries or other businesses (4,086) 0
Dividends And Interest Received, Classified As Investing Activities 77 0
Purchase of investments    
Corporate bonds (1,326) (348)
Government and treasuries (2,319) (189)
Common equity (244) (291)
Private debt (247) 0
Preferred shares (40) 0
Private equity and other (100) 0
Asset-backed securities (282) (10)
Mortgages (171) 0
Purchase Of Private Loans (121) (44)
Purchase of short term investments (697) 0
Proceeds from sales and maturities of investments    
Corporate bonds 643 0
Government and treasuries 3,504 495
Private debt 152 0
Private equity and other 34 0
Asset-backed securities 5 0
Mortgages 154 0
Proceeds from disposal of short term investments 1,409 0
Distributions from equity method investments 41 0
Change in collateral held for derivatives (11) 0
Purchase of equity accounted investments (306) 0
Proceeds from disposal of derivative instruments 94 0
Proceeds from disposal of property and equipment 2 0
Purchase of intangible assets (7) (1)
Cash flows from investing activities (3,842) (388)
Financing activities    
Issuance of common equity 450 1,160
Issuance of preferred equity 2,459 0
Return of capital (3) (5)
Borrowings from related parties 255 582
Repayments of borrowings to related parties (580) (582)
Borrowings from external parties 3,656 0
Repayment of borrowings to external parties (1,055) 0
Borrowings issued to reinsurance entities 49 0
Policyholders' account deposits 141 0
Policyholders' account withdrawals (112) 0
Debt issuance costs (4) 0
Payments to noncontrolling interest (3) 0
Proceeds from repurchase agreement 197 41
Repayments of repurchase agreement (197) (23)
Cash flows from financing activities 5,253 1,173
Cash and cash equivalents, beginning of period 393 35
Net change during the period 1,692 815
Foreign exchange on cash balances held in foreign currencies (1) 1
Cash and cash equivalents, end of period $ 2,084 $ 851