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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net premiums $ 1,516 $ 1,099 $ 3,047 $ 1,899
Other policy revenue 200 103 312 200
Net investment income 1,118 444 1,692 840
Investment related gains (losses) (114) 222 (70) 92
Net investment results from reinsurance funds withheld 182 106 406 118
Total revenues 2,902 1,974 5,387 3,149
Policyholder benefits and claims incurred (1,515) (1,133) (2,929) (1,875)
Interest sensitive contract benefits (422) (156) (607) (243)
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired (276) (185) (501) (332)
Change in fair value of insurance-related derivatives and embedded derivatives 13 30 57 (39)
Change in fair value of market risk benefits (168) 14 (199) 8
Other reinsurance expenses (7) 30 (14) 36
Operating expenses (461) (141) (694) (315)
Interest expense (95) (60) (167) (120)
Total benefits and expenses (2,931) (1,601) (5,054) (2,880)
Net income (loss) before income taxes (29) 373 333 269
Income tax recovery (expense) 298 (13) 273 (2)
Net income for the period 269 360 606 267
Attributable to:        
Non-controlling interests 5 (3) 7 2
Net income (loss) $ 269 $ 360 $ 606 $ 267
Net income per Class C share, Basic (in dollars per share) $ 1.95 $ 8.07 $ 4.85 $ 5.04
Class A exchangeable, Class A-1 exchangeable and Class B shareholders        
Attributable to:        
Net income $ 3 $ 1 $ 6 $ 2
Class C Shares        
Attributable to:        
Net income $ 261 $ 362 $ 593 $ 263