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Statutory Requirements (Tables)

12 Months Ended

Dec. 31, 2022

Statutory Accounting Practices [Line Items]

Statutory Accounting Practices Disclosure [Table Text Block]

The following represents the EBS capital and surplus and BSCR ratios:

			Successor															Predecessor
			December 31, 2022															December 31, 2021
(In millions, except percentages)			EBS capital & surplus						BSCR ratio									EBS capital & surplus						BSCR ratio
ALRe			$	16,759					256		%							$	14,630					209		%
AARe1			21,876						278		%							6,632						2,460		%
ACRA 1A			5,993						262		%							3,872						183		%
1 As a result of the merger, our legal entities were reorganized, which resulted in a significant change to AARe’s statutory capital position.

The following represents the effect of the permitted practices to the statutory financial statements:

			Successor
			December 31, 2022
(In millions)			ALRe						AARe						ACRA 1A
Increase (decrease) to capital and surplus due to permitted practices			$	6,029					$	19,671					$	8,289
Increase (decrease) to statutory net income due to permitted practices			2,605						5,299						5,945

The following represents the maximum distribution our Bermuda subsidiaries would be permitted to remit to its parent without the need for prior approval:

			Successor									Predecessor
(In millions)			December 31, 2022									December 31, 2021
ALRe			$	5,550								$	7,122
AARe			7,050									165
ACRA 1A			1,912									1,759

Statutory capital and surplus and net income (loss)—The following table presents, for each of our primary insurance subsidiaries, the statutory capital and surplus and the statutory net income (loss), based on the most recent statutory financial statements to be filed with insurance regulators:

			Statutory capital & surplus															Statutory net income (loss)
			Successor									Predecessor						Successor									Predecessor
(In millions)			December 31, 2022									December 31, 2021						Year Ended December 31, 2022									Year Ended December 31, 2021						Year Ended December 31, 2020
ALRe			$	13,084								$	11,823					$	937								$	3,278					$	1,544
AARe			17,126									2,649						1,329									(3,703)						92
ACRA 1A			5,637									4,187						(87)									293						1,522
AADE			2,298									1,605						(20)									(70)						54
AAIA			2,067									1,279						(238)									(182)						(8)
AANY			284									304						(23)									(8)						(25)

X

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
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-Name Accounting Standards Codification
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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

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