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F&G Insurance Subsidiary Financial Information and Regulatory Matters (Tables) | 3 Months Ended
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Mar. 31, 2024
Insurance [Abstract] |
Statutory Accounting Practices | Our principal insurance subsidiaries' statutory financial statements are based on a December 31 year end. Statutory net income and statutory capital and surplus of our wholly owned insurance subsidiaries as of March 31, 2024 and December 31, 2023, were as follows (in millions):
| Subsidiary (state of domicile) (a)
| FGL Insurance (IA) |  | FGL NY Insurance (NY) |  | Raven Re (VT) |  | Corbeau Re (VT)
Statutory net income (loss): |  |  |  |  |  |  |
For the three months ended March 31, 2024 | $ | — |  |  | $ | 2 |  |  | $ | 15 |  |  | $ | (134) |
For the three months ended March 31, 2023 | (3) |  |  | 1 |  |  | 14 |  |  | — |
Statutory capital and surplus: |  |  |  |  |  |  |
March 31, 2024 | $ | 1,940 |  |  | $ | 89 |  |  | $ | 155 |  |  | $ | 156 |
December 31, 2023 | 2,009 |  |  | 86 |  |  | 140 |  |  | 171 |
(a) FGL NY Insurance, Raven Re and Corbeau Re are subsidiaries of FGL Insurance, and the columns should not be added together. Corbeau Re was incorporated on September 1, 2023. Non-U.S. Companies Net income and capital and surplus of our wholly owned Bermuda and Cayman Islands regulated insurance subsidiaries under U.S. GAAP were as follows (in millions):
| Subsidiary (country of domicile)
| F&G Cayman Re (Cayman Islands) |  | F&G Life Re (Bermuda)
Statutory net income (loss): |  |  |
For the three months ended March 31, 2024 | $ | (31) |  |  | $ | 49 |
For the three months ended March 31, 2023 | 35 |  |  | 68 |
Statutory capital and surplus: |  |  |
March 31, 2024 | $ | 143 |  |  | $ | 61 |
December 31, 2023 | 114 |  | 11

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- Definition Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(23)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479989/944-505-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479989/944-505-50-6 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 55 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479956/944-505-55-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 55 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479956/944-505-55-1 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479989/944-505-50-3 + Details
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