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CLOSED BLOCK (Tables)
 12 Months Ended
Dec. 31, 2024
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,
 20242023
(in millions)
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other$5,213 $5,461 
Other liabilities62 57 
Total Closed Block liabilities5,275 5,518 
Assets Designated to the Closed Block:
Fixed maturities AFS, at fair value (amortized cost of $2,888 and $2,945) (allowance for credit losses of $0 and $0)
2,746 2,800 
Mortgage loans on real estate (net of allowance for credit losses of $21 and $13)
1,531 1,612 
Policy loans523 554 
Cash and other invested assets17 58 
Other assets130 150 
Total assets designated to the Closed Block4,947 5,174 
December 31,
 20242023
Excess of Closed Block liabilities over assets designated to the Closed Block328 344 
Amounts included in AOCI:
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $30 and $31
(112)(115)
Maximum future earnings to be recognized from Closed Block assets and liabilities$216 $229 
Schedule of Closed Block Operations, Net Results
The Company’s Closed Block revenues and expenses were as follows:
Year Ended December 31,
202420232022
(in millions)
Revenues:
Premiums and other income$109 $115 $125 
Net investment income (loss)204 209 221 
Investment gains (losses), net(9)(8)(3)
Total revenues304 316 343 
Benefits and Other Deductions:
Policyholders’ benefits and dividends286 309 330 
Other operating costs and expenses2 — 2 
Total benefits and other deductions288 309 332 
Net income (loss), before income taxes16 7 11 
Income tax (expense) benefit(3)(2)3 
Net income (loss)$13 $5 $14