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CLOSED BLOCK
 3 Months Ended
Mar. 31, 2023
Closed Block Disclosure [Abstract]  
CLOSED BLOCK CLOSED BLOCK
Summarized financial information for the Company’s Closed Block is as follows:
 March 31, 2023December 31, 2022
(in millions)
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other$5,626 $5,692 
Policyholder dividend obligation— — 
Other liabilities102 68 
Total Closed Block liabilities5,728 5,760 
Assets Designated to the Closed Block:
Fixed maturities AFS, at fair value (amortized cost of $3,117 and $3,171) (allowance for credit losses of $0 and $0)
2,945 2,948 
Mortgage loans on real estate (net of allowance for credit losses of $5 and $4)
1,647 1,645 
Policy loans561 569 
Cash and other invested assets2 — 
Other assets201 187 
Total assets designated to the Closed Block5,356 5,349 
Excess of Closed Block liabilities over assets designated to the Closed Block372 411 
Amounts included in AOCI:
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $36 and $47
(136)(177)
Maximum future earnings to be recognized from Closed Block assets and liabilities$236 $234 

The Company’s Closed Block revenues and expenses were as follows:
Three Months Ended March 31,
20232022
(in millions)
Revenues:
Premiums and other income$30 $33 
Net investment income (loss)51 58 
Investment gains (losses), net— 1 
Total revenues81 92 
Benefits and Other Deductions:
Policyholders’ benefits and dividends83 76 
Other operating costs and expenses— — 
Total benefits and other deductions83 76 
Net income (loss), before income taxes(2)16 
Income tax (expense) benefit(1)(2)
Net income (loss)$(3)$14