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CLOSED BLOCK (Tables)
 9 Months Ended
Sep. 30, 2024
Closed Block Disclosure [Abstract]  
Schedule of Closed Block Assets and Liabilities
Summarized financial information for the Company’s Closed Block is as follows:
 September 30, 2024December 31, 2023
(in millions)
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other$5,271 $5,461 
Other liabilities57 57 
Total Closed Block liabilities5,328 5,518 
Assets Designated to the Closed Block:
Fixed maturities AFS, at fair value (amortized cost of $2,862 and $2,945) (allowance for credit losses of $0 and $0)
2,785 2,800 
Mortgage loans on real estate (net of allowance for credit losses of $15 and $13)
1,541 1,612 
Policy loans534 554 
Cash and other invested assets79 58 
Other assets117 150 
Total assets designated to the Closed Block5,056 5,174 
Excess of Closed Block liabilities over assets designated to the Closed Block272 344 
Amounts included in AOCI:
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $16 and $31
(61)(115)
Maximum future earnings to be recognized from Closed Block assets and liabilities$211 $229 
Schedule of Closed Block Operations, Net Results
The Company’s Closed Block revenues and expenses were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(in millions)
Revenues:
Premiums and other income$26 $27 $81 $86 
Net investment income (loss)51 53 154 156 
Investment gains (losses), net(2)(6)(3)(6)
Total revenues75 74 232 236 
Benefits and Other Deductions:
Policyholders’ benefits and dividends69 79 210 237 
Other operating costs and expenses
— — — — 
Total benefits and other deductions69 79 210 237 
Net income (loss), before income taxes6 (5)22 (1)
Income tax (expense) benefit(2)2 (5)— 
Net income (loss)$4 $(3)$17 $(1)