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Exit of Property and Casualty Insurance Business
12 Months Ended
Dec. 31, 2021
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]  
Exit of Property and Casualty Insurance Business

NOTE 2.    Exit of Property and Casualty Insurance Business:

In 2020, the Company initiated a plan to exit its property and casualty insurance business, which resulted in the recognition of impairment losses totaling $55 million for the year ended December 31, 2020.  In January 2021, the Company entered into book transfer agreements with two third-party insurers and will seek to non-renew policies that are not transferred.  The Company’s policies in force had declined by approximately 71% as of December 31, 2021 and the Company expects the transfers to be completed by the end of the third quarter of 2022.

The property and casualty insurance business recorded revenues of $119 million, $138 million and $136 million for the years ended December 31, 2021, 2020, and 2019, respectively.  Loss before income taxes for the year ended December 31, 2021, which was partially offset by a gain of $12 million from the sale of the agency operations during 2021, was $17 million.  Losses before income taxes for the years ended December 31, 2020 and 2019 were $86 million and $2 million, respectively.