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CLOSED BLOCK (Tables)
 12 Months Ended
Dec. 31, 2023
Closed Block Disclosure [Abstract]  
Schedule of Closed Block Assets and Liabilities
Summarized financial information for the Company’s Closed Block is as follows:
December 31,
 20232022
(in millions)
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other$5,461 $5,692 
Other liabilities57 68 
Total Closed Block liabilities5,518 5,760 
Assets Designated to the Closed Block:
Fixed maturities AFS, at fair value (amortized cost of $2,945 and $3,171) (allowance for credit losses of $0 and $0)
2,800 2,948 
Mortgage loans on real estate (net of allowance for credit losses of $13 and $4)
1,612 1,645 
Policy loans554 569 
Cash and other invested assets58 — 
Other assets150 187 
Total assets designated to the Closed Block5,174 5,349 
December 31,
 20232022
Excess of Closed Block liabilities over assets designated to the Closed Block344 411 
Amounts included in AOCI:
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $31 and $47
(115)(177)
Maximum future earnings to be recognized from Closed Block assets and liabilities$229 $234 
Schedule of Closed Block Operations, Net Results
The Company’s Closed Block revenues and expenses were as follows:
Year Ended December 31,
202320222021
(in millions)
Revenues:
Premiums and other income$115 $125 $144 
Net investment income (loss)209 221 237 
Investment gains (losses), net(8)(3)4 
Total revenues316 343 385 
Benefits and Other Deductions:
Policyholders’ benefits and dividends309 330 375 
Other operating costs and expenses— 2 3 
Total benefits and other deductions309 332 378 
Net income (loss), before income taxes7 11 7 
Income tax (expense) benefit(2)3 (3)
Net income (loss)$5 $14 $4