falsedesktopHIG2019-03-31000004594719000007{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Indicate by check mark:\tYes\tNo\n- whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.\tx\t¨\n- whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\tx\t¨\n- whether the registrant is a large accelerated filer an accelerated filer a non-accelerated filer a smaller reporting company or an emerging growth company. See definitions of \"large accelerated filer\" \"accelerated filer\" \"smaller reporting company\" and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\t\t\n", "q10k_tbl_1": "Item\tDescription\tPage\n\tPart I. FINANCIAL INFORMATION\t\n1.\tFinancial Statements\t\n\tCondensed Consolidated Statements of Operations - For the Three Months Ended March 31 2019 (Successor Company) and For the Three Months Ended March 31 2018 (Predecessor Company)\t5\n\tCondensed Consolidated Statements of Comprehensive Income (Loss) - For the Three Months Ended March 31 2019 (Successor Company) and For the Three Months Ended March 31 2018 (Predecessor Company)\t6\n\tCondensed Consolidated Balance Sheets - As of March 31 2019 (Successor Company) and December 31 2018 (Successor Company)\t7\n\tCondensed Consolidated Statements of Changes in Stockholder's Equity - For the Three Months Ended March 31 2019 (Successor Company) and For the Three Months Ended March 31 2018 (Predecessor Company)\t8\n\tCondensed Consolidated Statements of Cash Flows - For the Three Months Ended March 31 2019 (Successor Company) and For the Three Months Ended March 31 2018 (Predecessor Company)\t9\n\tNotes to Condensed Consolidated Financial Statements\t10\n2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t53\n3.\tQuantitative and Qualitative Disclosures About Market Risk\t77\n4.\tControls and Procedures\t77\n\tPart II. OTHER INFORMATION\t\n1.\tLegal Proceedings\t78\n1A.\tRisk Factors\t78\n2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t[a]\n6.\tExhibits\t78\n\tExhibit Index\t79\n\tSignature\t80\n", "q10k_tbl_2": "\tSuccessor Company\tPredecessor Company\n(In millions)\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nRevenues\t\t\nFee income and other\t203\t231\nEarned premiums\t8\t27\nNet investment income\t238\t312\nNet realized capital gains (losses)\t(193)\t21\nAmortization of deferred reinsurance gain\t15\t0\nTotal revenues\t271\t591\nBenefits losses and expenses\t\t\nBenefits losses and loss adjustment expenses\t174\t325\nAmortization of deferred policy acquisition costs (\"DAC\") and value of business acquired (\"VOBA\")\t(43)\t11\nInsurance operating costs and other expenses\t106\t108\nOther intangible asset amortization\t1\t0\nDividends to policyholders\t2\t2\nTotal benefits losses and expenses\t240\t446\nIncome before income taxes\t31\t145\nIncome tax expense (benefit)\t(1)\t20\nNet income\t32\t125\n", "q10k_tbl_3": "\tSuccessor Company\tPredecessor Company\n(In millions)\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nNet income\t32\t125\nOther comprehensive income (loss):\t\t\nChanges in net unrealized gain (loss) on securities\t354\t(304)\nChanges in net gain on cash-flow hedging instruments\t0\t(18)\nChanges in foreign currency translation adjustments\t(2)\t1\nOCI net of tax\t352\t(321)\nComprehensive income (loss)\t384\t(196)\n", "q10k_tbl_4": "\tSuccessor Company\t\n(In millions except for share data)\tAs of March 31 2019\tAs of December 31 2018\nAssets\t\t\nInvestments:\t\t\nFixed maturities available-for-sale at fair value (amortized cost: March 31 2019 - $13711; December 31 2018 - $14035)\t13977\t13839\nFixed maturities at fair value using the fair value option\t11\t12\nEquity securities at fair value\t173\t116\nMortgage loans (net of valuation allowances: March 31 2019 - $0; December 31 2018 - $5)\t2085\t2100\nPolicy loans at outstanding balance\t1452\t1441\nLimited partnerships and other alternative investments\t912\t894\nOther investments\t166\t201\nShort-term investments\t1204\t844\nTotal investments\t19980\t19447\nCash\t104\t221\nPremiums receivable and agents' balances\t11\t12\nReinsurance recoverables\t29321\t29564\nValue of business acquired\t741\t716\nDeferred income taxes net\t876\t969\nOther intangible assets\t50\t51\nOther assets\t404\t352\nSeparate account assets\t104809\t98814\nTotal assets\t156296\t150146\nLiabilities\t\t\nReserve for future policy benefits\t18314\t18323\nOther policyholder funds and benefits payable\t28182\t28584\nOther liabilities\t2602\t2420\nSeparate account liabilities\t104809\t98814\nTotal liabilities\t153907\t148141\nCommitments and Contingencies (Note 10)\t\t\nStockholder's Equity\t\t\nCommon stock-1000 shares authorized issued and outstanding par value $5690\t6\t6\nAdditional paid-in capital\t1761\t1761\nAccumulated other comprehensive income (loss) net of tax\t181\t(171)\nRetained earnings\t441\t409\nTotal stockholder's equity\t2389\t2005\nTotal liabilities and stockholder's equity\t156296\t150146\n", "q10k_tbl_5": "For the Three Months Ended March 31 2019 (Successor Company)\t\t\t\t\t\n(In millions)\tCommon Stock\tAdditional Paid-In Capital\tAccumulated Other Comprehensive Income\tRetained Earnings\tTotal Equity\nBalance beginning of period\t6\t1761\t(171)\t409\t2005\nNet income\t0\t0\t0\t32\t32\nTotal other comprehensive income\t0\t0\t352\t0\t352\nBalance end of period\t6\t1761\t181\t441\t2389\n", "q10k_tbl_6": "For the Three Months Ended March 31 2018 (Predecessor Company)\t\t\t\t\t\n(In millions)\tCommon Stock\tAdditional Paid-In Capital\tAccumulated Other Comprehensive Income\tRetained Earnings\tTotal Equity\nBalance beginning of period\t6\t3539\t1023\t2112\t6680\nCumulative effect of accounting changes net of tax\t0\t0\t182\t(182)\t0\nAdjusted balance beginning of period\t6\t3539\t1205\t1930\t6680\nNet income\t0\t0\t0\t125\t125\nTotal other comprehensive loss\t0\t0\t(321)\t0\t(321)\nCapital contributions from parent\t0\t2\t0\t0\t2\nBalance end of period\t6\t3541\t884\t2055\t6486\n", "q10k_tbl_7": "\tSuccessor Company\tPredecessor Company\n(In millions)\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nOperating Activities\t\t\nNet income\t32\t125\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\nNet realized capital (gains) losses\t193\t(21)\nAmortization of deferred reinsurance gain\t(15)\t0\nAmortization of DAC and VOBA\t(43)\t11\nDepreciation and amortization net\t11\t4\nOther operating activities net\t(139)\t126\nChange in assets and liabilities:\t\t\nDecrease in reinsurance recoverables\t289\t3\nDecrease in deferred and accrued income taxes\t93\t15\nIncrease (decrease) in reserve for future policy benefits and unearned premiums\t(241)\t4\nNet changes in other assets and other liabilities\t202\t0\nNet cash provided by operating activities\t382\t267\nInvesting Activities\t\t\nProceeds from the sale/maturity/prepayment of:\t\t\nFixed maturities available-for-sale\t1112\t1605\nFixed maturities fair value option\t1\t3\nEquity securities at fair value\t14\t31\nMortgage loans\t20\t98\nPartnerships\t22\t50\nPayments for the purchase of:\t\t\nFixed maturities available-for-sale\t(853)\t(1212)\nEquity securities at fair value\t(2)\t(7)\nMortgage loans\t(13)\t(63)\nPartnerships\t(24)\t(44)\nNet payments for repurchase agreements program\t(7)\t0\nNet payments for derivatives\t(52)\t(156)\nNet decrease in policy loans\t(11)\t(46)\nNet additions to property and equipment\t0\t(1)\nNet payments for short-term investments\t(349)\t(460)\nOther investing activities net\t0\t15\nNet cash used for investing activities\t(142)\t(187)\nFinancing Activities\t\t\nDeposits and other additions to investment and universal life-type contracts\t680\t1354\nWithdrawals and other deductions from investment and universal life-type contracts\t(2958)\t(7472)\nNet transfers from separate accounts related to investment and universal life-type contracts\t1890\t5918\nNet increase (decrease) in securities loaned or sold under agreements to repurchase\t29\t(136)\nNet repayments at maturity or settlement of consumer notes\t0\t(4)\nNet cash used for financing activities\t(359)\t(340)\nForeign exchange rate effect on cash\t2\t0\nNet decrease in cash\t(117)\t(260)\nCash - beginning of period\t221\t537\nCash - end of period\t104\t277\n", "q10k_tbl_8": "Cash and invested assets\t27038\nVOBA\t805\nDeferred Income Taxes\t998\nIntangible Assets\t55\nReinsurance recoverable and other assets\t22615\nSeparate account assets\t110773\nTotal assets\t162284\nReserves for future policy benefits\t18057\nOther policyholder funds and benefits payable\t29560\nOther liabilities\t2127\nSeparate account liabilities\t110773\nTotal liabilities\t160517\nEquity\t1767\nTotal liabilities and stockholder's equity\t162284\n", "q10k_tbl_9": "Successor Company\t\t\t\t\nAssets and (Liabilities) Carried at Fair Value by Hierarchy Level as of March 31 2019\t\t\t\t\n\tTotal\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nAssets accounted for at fair value on a recurring basis\t\t\t\t\nFixed maturities AFS\t\t\t\t\nAsset backed securities (\"ABS\")\t383\t0\t381\t2\nCollateralized loan obligations (\"CLOs\")\t997\t0\t899\t98\nCommercial mortgage-backed securities (\"CMBS\")\t1481\t0\t1443\t38\nCorporate\t8020\t0\t7778\t242\nForeign government/government agencies\t390\t0\t390\t0\nBonds of municipalities and political subdivisions (\"municipal bonds\")\t732\t0\t732\t0\nResidential mortgage-backed securities (\"RMBS\")\t986\t0\t602\t384\nU.S. Treasuries\t988\t81\t907\t0\nTotal fixed maturities AFS\t13977\t81\t13132\t764\nFixed maturities FVO\t11\t0\t11\t0\nEquity securities at fair value\t173\t52\t86\t35\nDerivative assets\t\t\t\t\nCredit derivatives\t1\t0\t1\t0\nForeign exchange derivatives\t1\t0\t1\t0\nInterest rate derivatives\t39\t0\t39\t0\nGuaranteed minimum withdrawal benefit (\"GMWB\") hedging instruments\t27\t0\t4\t23\nMacro hedge program\t59\t0\t0\t59\nTotal derivative assets [1]\t127\t0\t45\t82\nShort-term investments\t1204\t455\t749\t0\nReinsurance recoverable for GMWB\t28\t0\t0\t28\nModified coinsurance reinsurance contracts\t(12)\t0\t(12)\t0\nSeparate account assets [2]\t100323\t64134\t36134\t55\nTotal assets accounted for at fair value on a recurring basis\t115831\t64722\t50145\t964\nLiabilities accounted for at fair value on a recurring basis\t\t\t\t\nOther policyholder funds and benefits payable\t\t\t\t\nGMWB embedded derivative\t(29)\t0\t0\t(29)\nTotal other policyholder funds and benefits payable\t(29)\t0\t0\t(29)\nDerivative liabilities\t\t\t\t\nCredit derivatives\t3\t0\t3\t0\nEquity derivatives\t1\t0\t0\t1\nForeign exchange derivatives\t(97)\t0\t(97)\t0\nInterest rate derivatives\t(143)\t0\t(114)\t(29)\nGMWB hedging instruments\t20\t0\t23\t(3)\nMacro hedge program\t(24)\t0\t0\t(24)\nTotal derivative liabilities [3]\t(240)\t0\t(185)\t(55)\nTotal liabilities accounted for at fair value on a recurring basis\t(269)\t0\t(185)\t(84)\n", "q10k_tbl_10": "Successor Company\t\t\t\t\nAssets and (Liabilities) Carried at Fair Value by Hierarchy Level as of December 31 2018\t\t\t\t\n\tTotal\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nAssets accounted for at fair value on a recurring basis\t\t\t\t\nFixed maturities AFS\t\t\t\t\nABS\t516\t0\t514\t2\nCLOs\t963\t0\t886\t77\nCMBS\t1407\t0\t1366\t41\nCorporate\t7678\t0\t7351\t327\nForeign government/government agencies\t377\t0\t377\t0\nMunicipal bonds\t734\t0\t734\t0\nRMBS\t1033\t0\t590\t443\nU.S. Treasuries\t1131\t322\t809\t0\nTotal fixed maturities AFS\t13839\t322\t12627\t890\nFixed maturities FVO\t12\t0\t12\t0\nEquity securities at fair value\t116\t54\t16\t46\nDerivative assets\t\t\t\t\nInterest rate derivatives\t36\t0\t36\t0\nGMWB hedging instruments\t44\t0\t8\t36\nMacro hedge program\t132\t0\t0\t132\nTotal derivative assets [1]\t212\t0\t44\t168\nShort-term investments\t844\t464\t380\t0\nReinsurance recoverable for GMWB\t40\t0\t0\t40\nModified coinsurance reinsurance contracts\t12\t0\t12\t0\nSeparate account assets [2]\t94724\t59361\t35323\t40\nTotal assets accounted for at fair value on a recurring basis\t109799\t60201\t48414\t1184\nLiabilities accounted for at fair value on a recurring basis\t\t\t\t\nOther policyholder funds and benefits payable\t\t\t\t\nGMWB embedded derivative\t(80)\t0\t0\t(80)\nTotal other policyholder funds and benefits payable\t(80)\t0\t0\t(80)\nDerivative liabilities\t\t\t\t\nCredit derivatives\t2\t0\t2\t0\nForeign exchange derivatives\t(91)\t0\t(91)\t0\nInterest rate derivatives\t(137)\t0\t(110)\t(27)\nGMWB hedging instruments\t27\t0\t18\t9\nMacro hedge program\t115\t0\t0\t115\nTotal derivative liabilities [3]\t(84)\t0\t(181)\t97\nTotal liabilities accounted for at fair value on a recurring basis\t(164)\t0\t(181)\t17\n", "q10k_tbl_11": "Significant Unobservable Inputs for Level 3 - Securities\t\t\t\t\t\t\t\nAs of March 31 2019 (Successor Company)\t\t\t\t\t\t\t\nAssets Accounted for at Fair Value on a Recurring Basis\tFair Value\tPredominant Valuation Technique\tSignificant Unobservable Input\tMinimum\tMaximum\tWeighted Average [1]\tImpact of Increase in Input on Fair Value [2]\nCLOs [3]\t71\tDiscounted cash flows\tSpread\t60bps\t256bps\t253bps\tDecrease\nCMBS [3]\t30\tDiscounted cash flows\tSpread (encompasses prepayment default risk and loss severity)\t9bps\t1816bps\t241bps\tDecrease\nCorporate [4]\t158\tDiscounted cash flows\tSpread\t121bps\t665bps\t291bps\tDecrease\nRMBS [3]\t384\tDiscounted cash flows\tSpread\t26bps\t1214bps\t85bps\tDecrease\n\t\t\tConstant prepayment rate\t-%\t16%\t6%\tDecrease [5]\n\t\t\tConstant default rate\t1%\t6%\t3%\tDecrease\n\t\t\tLoss severity\t-%\t100%\t60%\tDecrease\nAs of December 31 2018 (Successor Company)\t\t\t\t\t\t\t\nAssets Accounted for at Fair Value on a Recurring Basis\tFair Value\tPredominant Valuation Technique\tSignificant Unobservable Input\tMinimum\tMaximum\tWeighted Average [1]\tImpact of Increase in Input on Fair Value [2]\nCMBS [3]\t1\tDiscounted cash flows\tSpread (encompasses prepayment default risk and loss severity)\t9bps\t1816bps\t278bps\tDecrease\nCorporate [4]\t144\tDiscounted cash flows\tSpread\t145bps\t1145bps\t400bps\tDecrease\nRMBS [3]\t426\tDiscounted cash flows\tSpread\t31bps\t346bps\t92bps\tDecrease\n\t\t\tConstant prepayment rate\t-%\t13%\t6%\tDecrease [5]\n\t\t\tConstant default rate\t2%\t8%\t3%\tDecrease\n\t\t\tLoss severity\t-%\t100%\t58%\tDecrease\n", "q10k_tbl_12": "Significant Unobservable Inputs for Level 3 - Freestanding Derivatives\t\t\t\t\t\t\nAs of March 31 2019 (Successor Company)\t\t\t\t\t\t\n\tFair Value\tPredominant Valuation Technique\tSignificant Unobservable Input\tMinimum\tMaximum\tImpact of Increase in Input on Fair Value [1]\nEquity derivatives\t\t\t\t\t\t\nEquity options\t1\tOption model\tEquity volatility\t1%\t1%\tIncrease\nInterest rate derivatives\t\t\t\t\t\t\nInterest rate swaps\t(29)\tDiscounted cash flows\tSwap curve beyond 30 years\t3%\t3%\tDecrease\nGMWB hedging instruments\t\t\t\t\t\t\nEquity variance swaps\t(29)\tOption model\tEquity volatility\t17%\t17%\tIncrease\nEquity options\t1\tOption model\tEquity volatility\t31%\t33%\tIncrease\nCustomized swaps\t46\tDiscounted cash flows\tEquity volatility\t12%\t25%\tIncrease\nInterest rate swaption\t2\tOption model\tInterest rate volatility\t2%\t2%\tIncrease\nMacro hedge program [2]\t\t\t\t\t\t\nEquity options\t37\tOption model\tEquity volatility\t1%\t30%\tIncrease\nAs of December 31 2018 (Successor Company)\t\t\t\t\t\t\n\tFair Value\tPredominant Valuation Technique\tSignificant Unobservable Input\tMinimum\tMaximum\tImpact of Increase in Input on Fair Value [1]\nInterest rate derivatives\t\t\t\t\t\t\nInterest rate swaps\t(27)\tDiscounted cash flows\tSwap curve beyond 30 years\t3%\t3%\tDecrease\nGMWB hedging instruments\t\t\t\t\t\t\nEquity variance swaps\t(26)\tOption model\tEquity volatility\t22%\t22%\tIncrease\nEquity options\t(1)\tOption model\tEquity volatility\t30%\t32%\tIncrease\nCustomized swaps\t71\tDiscounted cash flows\tEquity volatility\t18%\t30%\tIncrease\nInterest rate swaption\t1\tOption model\tInterest rate volatility\t3%\t3%\tIncrease\nMacro hedge program [2]\t\t\t\t\t\t\nEquity options\t250\tOption model\tEquity volatility\t17%\t30%\tIncrease\n", "q10k_tbl_13": "Significant Unobservable Inputs for Level 3 GMWB Embedded Customized and Reinsurance Derivatives\t\t\t\nAs of March 31 2019 (Successor Company)\t\t\t\nSignificant Unobservable Input\tUnobservable Inputs (Minimum)\tUnobservable Inputs (Maximum)\tImpact of Increase in Input on Fair Value Liability [1]\nWithdrawal utilization [2]\t15%\t100%\tIncrease\nWithdrawal rates [3]\t-%\t8%\tIncrease\nLapse rates [4]\t1%\t40%\tDecrease\nReset elections [5]\t20%\t45%\tIncrease\nEquity volatility [6]\t12%\t25%\tIncrease\nCredit standing adjustment [7]\t0.04%\t0.28%\tDecrease\nAs of December 31 2018 (Successor Company)\t\t\t\nSignificant Unobservable Input\tUnobservable Inputs (Minimum)\tUnobservable Inputs (Maximum)\tImpact of Increase in Input on Fair Value Liability [1]\nWithdrawal utilization [2]\t15%\t100%\tIncrease\nWithdrawal rates [3]\t-%\t8%\tIncrease\nLapse rates [4]\t1%\t40%\tDecrease\nReset elections [5]\t20%\t45%\tIncrease\nEquity volatility [6]\t17%\t30%\tIncrease\nCredit standing adjustment [7]\t0.04%\t0.28%\tDecrease\n", "q10k_tbl_14": "Fair Value Roll-forwards for Financial Instruments Classified as Level 3\t\t\t\t\t\t\t\t\t\n\t\tTotal Realized/Unrealized Gains (Losses)\t\t\t\t\t\t\t\n\tFair Value as of January 1 2019\tIncluded in Net Income [1] [2] [6]\tIncluded in OCI [3]\tPurchases\tSettlements\tSales\tTransfers into Level 3 [4]\tTransfers out of Level 3 [4]\tFair Value as of March 31 2019\nAssets\t\t\t\t\t\t\t\t\t\nFixed maturities AFS\t\t\t\t\t\t\t\t\t\nABS\t2\t0\t0\t0\t0\t0\t0\t0\t2\nCLOs\t77\t0\t0\t38\t0\t(5)\t0\t(12)\t98\nCMBS\t41\t0\t0\t29\t0\t0\t0\t(32)\t38\nCorporate\t327\t1\t4\t4\t(3)\t(86)\t4\t(9)\t242\nRMBS\t443\t0\t1\t0\t(22)\t(21)\t0\t(17)\t384\nTotal fixed maturities AFS\t890\t1\t5\t71\t(25)\t(112)\t4\t(70)\t764\nEquity securities at fair value\t46\t(2)\t0\t0\t0\t(9)\t0\t0\t35\nFreestanding derivatives\t\t\t\t\t\t\t\t\t\nEquity\t0\t0\t0\t1\t0\t0\t0\t0\t1\nInterest rate\t(27)\t(2)\t\t0\t0\t0\t0\t0\t(29)\nGMWB hedging instruments\t45\t(25)\t\t0\t0\t0\t0\t0\t20\nMacro hedge program\t247\t(213)\t\t1\t0\t0\t0\t0\t35\nTotal freestanding derivatives [5]\t265\t(240)\t0\t2\t0\t0\t0\t0\t27\nReinsurance recoverable for GMWB\t40\t(14)\t0\t0\t2\t0\t0\t0\t28\nSeparate accounts\t40\t0\t0\t28\t0\t(1)\t0\t(12)\t55\nTotal assets\t1281\t(255)\t5\t101\t(23)\t(122)\t4\t(82)\t909\nLiabilities\t\t\t\t\t\t\t\t\t\nOther policyholder funds and benefits payable\t\t\t\t\t\t\t\t\t\nGuaranteed withdrawal benefits\t(80)\t65\t0\t0\t(14)\t0\t0\t0\t(29)\nTotal other policyholder funds and benefits payable\t(80)\t65\t0\t0\t(14)\t0\t0\t0\t(29)\nTotal liabilities\t(80)\t65\t0\t0\t(14)\t0\t0\t0\t(29)\n", "q10k_tbl_15": "Fair Value Roll-forwards for Financial Instruments Classified as Level 3\t\t\t\t\t\t\t\t\t\n\t\tTotal Realized/Unrealized Gains (Losses)\t\t\t\t\t\t\t\n\tFair Value as of January 1 2018\tIncluded in Net Income [1] [2] [6]\tIncluded in OCI [3]\tPurchases\tSettlements\tSales\tTransfers into Level 3 [4]\tTransfers out of Level 3 [4]\tFair Value as of March 31 2018\nAssets\t\t\t\t\t\t\t\t\t\nFixed maturities AFS\t\t\t\t\t\t\t\t\t\nABS\t13\t0\t0\t0\t(1)\t0\t0\t(3)\t9\nCLOs\t73\t0\t0\t5\t0\t0\t0\t(6)\t72\nCMBS\t26\t0\t0\t0\t(1)\t(4)\t0\t0\t21\nCorporate\t443\t0\t(7)\t20\t(13)\t(30)\t54\t(20)\t447\nForeign Govt./Govt. agencies\t1\t0\t0\t0\t0\t0\t0\t0\t1\nMunicipal\t38\t0\t(1)\t0\t0\t0\t0\t0\t37\nRMBS\t692\t0\t(2)\t3\t(47)\t0\t0\t(5)\t641\nTotal fixed maturities AFS\t1286\t0\t(10)\t28\t(62)\t(34)\t54\t(34)\t1228\nEquity securities at fair value\t46\t10\t0\t0\t0\t(14)\t0\t0\t42\nFreestanding derivatives\t\t\t\t\t\t\t\t\t\nInterest rate\t(29)\t1\t0\t0\t0\t0\t0\t0\t(28)\nGMWB hedging instruments\t34\t0\t0\t0\t0\t(2)\t0\t0\t32\nMacro hedge program\t23\t10\t0\t0\t0\t0\t0\t0\t33\nTotal freestanding derivatives [5]\t28\t11\t0\t0\t0\t(2)\t0\t0\t37\nReinsurance recoverable for GMWB\t36\t(8)\t0\t0\t3\t0\t0\t0\t31\nSeparate accounts\t185\t0\t0\t10\t0\t(162)\t17\t(9)\t41\nTotal assets\t1581\t13\t(10)\t38\t(59)\t(212)\t71\t(43)\t1379\nLiabilities\t\t\t\t\t\t\t\t\t\nOther policyholder funds and benefits payable\t\t\t\t\t\t\t\t\t\nGuaranteed withdrawal benefits\t(75)\t39\t0\t0\t(17)\t0\t0\t0\t(53)\nTotal other policyholder funds and benefits payable\t(75)\t39\t0\t0\t(17)\t0\t0\t0\t(53)\nTotal liabilities\t(75)\t39\t0\t0\t(17)\t0\t0\t0\t(53)\n", "q10k_tbl_16": "Changes in Unrealized Gains (Losses) Included in Net Income for Financial Instruments Classified as Level 3 Still Held at End of Period\t\t\n\tSuccessor Company\tPredecessor Company\n\tFor the Three Months Ended March 31 2019 [1] [2]\tFor the Three Months Ended March 31 2018 [1] [2]\nAssets\t\t\nFreestanding derivatives\t\t\nInterest rate\t(2)\t1\nGMWB hedging instruments\t(25)\t(2)\nMacro hedge program\t(213)\t12\nTotal freestanding derivatives\t(240)\t11\nReinsurance recoverable for GMWB\t(14)\t(8)\nSeparate accounts\t0\t0\nTotal assets\t(254)\t3\nLiabilities\t\t\nOther policyholder funds and benefits payable\t\t\nGuaranteed withdrawal benefits\t65\t39\nTotal other policyholder funds and benefits payable\t65\t39\nTotal liabilities\t65\t39\n", "q10k_tbl_17": "Financial Assets and Liabilities Not Carried at Fair Value\t\t\t\t\t\n\t\tSuccessor Company\t\t\t\n\tFair Value Hierarchy\tCarrying Amount\tFair Value\tCarrying Amount\tFair Value\n\t\tMarch 31 2019\t\tDecember 31 2018\t\nAssets\t\t\t\t\t\nPolicy loans\tLevel 3\t1452\t1452\t1441\t1441\nMortgage loans\tLevel 3\t2085\t2118\t2100\t2125\nLiabilities\t\t\t\t\t\nOther policyholder funds and benefits payable [1]\tLevel 3\t6187\t5951\t6186\t5888\nAssumed investment contracts [2]\tLevel 3\t183\t182\t185\t185\n", "q10k_tbl_18": "Net Realized Capital Gains (Losses)\t\t\n\tSuccessor Company\tPredecessor Company\n(Before tax)\tFor the three months ended March 31 2019\tFor the three months ended March 31 2018\nGross gains on sales\t13\t21\nGross losses on sales\t(8)\t(17)\nEquity securities [1]\t2\t11\nResults of variable annuity hedge program\t\t\nGMWB derivatives net\t14\t4\nMacro hedge program\t(226)\t18\nTotal results of variable annuity hedge program\t(212)\t22\nTransactional foreign currency revaluation\t0\t(14)\nNon-qualifying foreign currency derivatives\t(4)\t17\nOther net [2]\t16\t(19)\nNet realized capital gains (losses)\t(193)\t21\n", "q10k_tbl_19": "Cumulative Credit Impairments\t\t\n\tSuccessor Company\tPredecessor Company\n(Before tax)\tFor the three months ended March 31 2019\tFor the three months ended March 31 2018\nBalance as of beginning of period\t(6)\t(88)\nAdditions for credit impairments recognized on [1]:\t\t\nSecurities not previously impaired\t0\t0\nSecurities previously impaired\t0\t0\nReductions for credit impairments previously recognized on:\t\t\nSecurities that matured or were sold during the period\t6\t4\nBalance as of end of period\t0\t(84)\n", "q10k_tbl_20": "AFS Securities by Type\t\t\t\t\t\t\t\t\t\t\n\tSuccessor Company\t\t\t\t\t\t\t\t\t\n\tMarch 31 2019\t\t\t\t\tDecember 31 2018\t\t\t\t\n\tCost or Amortized Cost [1]\tGross Unrealized Gains\tGross Unrealized Losses\tFair Value\tNon-Credit OTTI [2]\tCost or Amortized Cost [1]\tGross Unrealized Gains\tGross Unrealized Losses\tFair Value\tNon-Credit OTTI [2]\nABS\t380\t3\t0\t383\t0\t514\t2\t0\t516\t0\nCLOs\t996\t9\t(8)\t997\t0\t971\t5\t(13)\t963\t0\nCMBS\t1453\t32\t(1)\t1481\t0\t1409\t8\t(7)\t1407\t0\nCorporate\t7855\t183\t(51)\t8020\t0\t7860\t19\t(236)\t7678\t(1)\nForeign govt./govt. agencies\t380\t14\t(1)\t390\t0\t383\t3\t(6)\t377\t0\nMunicipal\t710\t21\t0\t732\t0\t738\t5\t(10)\t734\t0\nRMBS\t980\t7\t(1)\t986\t0\t1034\t3\t(4)\t1033\t0\nU.S. Treasuries\t957\t31\t0\t988\t0\t1126\t8\t(3)\t1131\t0\nTotal fixed maturities AFS\t13711\t300\t(62)\t13977\t0\t14035\t53\t(279)\t13839\t(1)\n", "q10k_tbl_21": "Fixed maturities AFS by Contractual Maturity Year\t\t\t\t\n\tSuccessor Company\t\t\t\n\tMarch 31 2019\t\tDecember 31 2018\t\nContractual Maturity\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\nOne year or less\t430\t429\t481\t479\nOver one year through five years\t1419\t1433\t1508\t1501\nOver five years through ten years\t1885\t1926\t1807\t1783\nOver ten years\t6168\t6342\t6311\t6157\nSubtotal\t9902\t10130\t10107\t9920\nMortgage-backed and asset-backed securities\t3809\t3847\t3928\t3919\nTotal fixed maturities AFS\t13711\t13977\t14035\t13839\n", "q10k_tbl_22": "Unrealized Loss Aging for AFS Securities by Type and Length of Time as of March 31 2019\t\t\t\t\t\t\t\t\t\nSuccessor Company\t\t\t\t\t\t\t\t\t\n\tLess Than 12 Months\t\t\t12 Months or More\t\t\tTotal\t\t\n\tAmortized Cost [1]\tFair Value\tUnrealized Losses\tAmortized Cost [1]\tFair Value\tUnrealized Losses\tAmortized Cost [1]\tFair Value\tUnrealized Losses\nABS\t102\t102\t0\t0\t0\t0\t102\t102\t0\nCLOs\t885\t877\t(8)\t0\t0\t0\t885\t877\t(8)\nCMBS\t217\t216\t(1)\t0\t0\t0\t217\t216\t(1)\nCorporate\t1634\t1596\t(51)\t0\t0\t0\t1634\t1596\t(51)\nForeign govt./govt. agencies\t72\t71\t(1)\t0\t0\t0\t72\t71\t(1)\nMunicipal\t31\t31\t0\t0\t0\t0\t31\t31\t0\nRMBS\t297\t296\t(1)\t0\t0\t0\t297\t296\t(1)\nU.S. Treasuries\t15\t15\t0\t0\t0\t0\t15\t15\t0\nTotal fixed maturities AFS in an unrealized loss position\t3253\t3204\t(62)\t0\t0\t0\t3253\t3204\t(62)\n", "q10k_tbl_23": "Unrealized Loss Aging for AFS Securities by Type and Length of Time as of December 31 2018\t\t\t\t\t\t\t\t\t\nSuccessor Company\t\t\t\t\t\t\t\t\t\n\tLess Than 12 Months\t\t\t12 Months or More\t\t\tTotal\t\t\n\tAmortized Cost [1]\tFair Value\tUnrealized Losses\tAmortized Cost [1]\tFair Value\tUnrealized Losses\tAmortized Cost [1]\tFair Value\tUnrealized Losses\nABS\t179\t179\t0\t0\t0\t0\t179\t179\t0\nCLOs\t887\t874\t(13)\t0\t0\t0\t887\t874\t(13)\nCMBS\t762\t754\t(7)\t0\t0\t0\t762\t754\t(7)\nCorporate\t6748\t6549\t(236)\t0\t0\t0\t6748\t6549\t(236)\nForeign govt./govt. agencies\t218\t212\t(6)\t0\t0\t0\t218\t212\t(6)\nMunicipal\t490\t480\t(10)\t0\t0\t0\t490\t480\t(10)\nRMBS\t727\t723\t(4)\t0\t0\t0\t727\t723\t(4)\nU.S. Treasuries\t619\t616\t(3)\t0\t0\t0\t619\t616\t(3)\nTotal fixed maturities AFS in an unrealized loss position\t10630\t10387\t(279)\t0\t0\t0\t10630\t10387\t(279)\n", "q10k_tbl_24": "Mortgage Loans Credit Quality\t\t\t\t\n\tSuccessor Company\t\t\t\n\tMarch 31 2019\t\tDecember 31 2018\t\nLoan-to-value\tCarrying Value\tAvg. Debt-Service Coverage Ratio\tCarrying Value\tAvg. Debt-Service Coverage Ratio\n65% - 80%\t358\t1.88x\t340\t1.78x\nLess than 65%\t1727\t2.52x\t1760\t2.48x\nTotal mortgage loans\t2085\t2.41x\t2100\t2.36x\n", "q10k_tbl_25": "Mortgage Loans by Region\t\t\t\t\n\tSuccessor Company\t\t\t\n\tMarch 31 2019\t\tDecember 31 2018\t\n\tCarrying Value\tPercent of Total\tCarrying Value\tPercent of Total\nEast North Central\t56\t2.7%\t56\t2.7%\nEast South Central\t19\t0.9%\t19\t0.9%\nMiddle Atlantic\t131\t6.3%\t131\t6.2%\nMountain\t51\t2.4%\t51\t2.4%\nNew England\t79\t3.8%\t79\t3.7%\nPacific\t679\t32.6%\t684\t32.6%\nSouth Atlantic\t451\t21.6%\t457\t21.8%\nWest South Central\t225\t10.8%\t226\t10.8%\nOther [1]\t394\t18.9%\t397\t18.9%\nTotal mortgage loans\t2085\t100%\t2100\t100%\n", "q10k_tbl_26": "Mortgage Loans by Property Type\t\t\t\t\n\tSuccessor Company\t\t\t\n\tMarch 31 2019\t\tDecember 31 2018\t\n\tCarrying Value\tPercent of Total\tCarrying Value\tPercent of Total\nCommercial\t\t\t\t\nIndustrial\t585\t28.1%\t580\t27.6%\nLodging\t24\t1.2%\t24\t1.1%\nMultifamily\t519\t24.9%\t518\t24.7%\nOffice\t459\t22.0%\t478\t22.8%\nRetail\t284\t13.6%\t286\t13.6%\nSingle Family\t86\t4.1%\t86\t4.1%\nOther\t128\t6.1%\t128\t6.1%\nTotal mortgage loans\t2085\t100%\t2100\t100%\n", "q10k_tbl_27": "Securities Lending and Repurchase Agreements\t\t\n\tSuccessor Company\t\n\tMarch 31 2019\tDecember 31 2018\n\tFair Value\tFair Value\nSecurities Lending Transactions:\t\t\nGross amount of securities on loan\t297\t277\nGross amount of associated liability for collateral received [1]\t304\t284\nRepurchase agreements:\t\t\nGross amount of recognized liabilities for repurchase agreements\t195\t186\nGross amount of collateral pledged related to repurchase agreements [2]\t197\t190\nGross amount of recognized receivables for reverse repurchase agreements [3]\t35\t25\n", "q10k_tbl_28": "GMWB Hedging Instruments (Successor Company)\t\t\t\t\n\tNotional Amount\t\tFair Value\t\n\tMarch 31 2019\tDecember 31 2018\tMarch 31 2019\tDecember 31 2018\nCustomized swaps\t4095\t3877\t45\t71\nEquity swaps options and futures\t792\t776\t(28)\t(25)\nInterest rate swaps and futures\t2602\t3140\t30\t25\nTotal\t7489\t7793\t47\t71\n", "q10k_tbl_29": "Derivative Balance Sheet Presentation (Successor Company)\t\t\t\t\t\t\t\t\n\tNet Derivatives\t\t\t\tAsset Derivatives\t\tLiability Derivatives\t\n\tNotional Amount\t\tFair Value\t\tFair Value\t\tFair Value\t\n\tMar 31 2019\tDec 31 2018\tMar 31 2019\tDec 31 2018\tMar 31 2019\tDec 31 2018\tMar 31 2019\tDec 31 2018\nCash flow hedges\t\t\t\t\t\t\t\t\nForeign currency swaps\t10\t0\t0\t0\t0\t0\t0\t0\nTotal cash flow hedges\t10\t0\t0\t0\t0\t0\t0\t0\nNon-qualifying strategies\t\t\t\t\t\t\t\t\nInterest rate contracts\t\t\t\t\t\t\t\t\nInterest rate swaps and futures\t3049\t3152\t(104)\t(101)\t47\t38\t(151)\t(139)\nForeign exchange contracts\t\t\t\t\t\t\t\t\nForeign currency swaps and forwards\t225\t225\t(10)\t(9)\t7\t7\t(17)\t(16)\nFixed payout annuity hedge\t270\t270\t(86)\t(82)\t0\t0\t(86)\t(82)\nCredit contracts\t\t\t\t\t\t\t\t\nCredit derivatives that purchase credit protection\t40\t45\t(1)\t(1)\t0\t0\t(1)\t(1)\nCredit derivatives that assume credit risk [1]\t267\t372\t5\t3\t5\t3\t0\t0\nCredit derivatives in offsetting positions\t0\t43\t0\t0\t0\t5\t0\t(5)\nEquity contracts\t\t\t\t\t\t\t\t\nEquity index swaps options and futures\t2000\t0\t1\t0\t1\t0\t0\t0\nVariable annuity hedge program\t\t\t\t\t\t\t\t\nGMWB product derivatives [2]\t11027\t9957\t(29)\t(80)\t0\t0\t(29)\t(80)\nGMWB reinsurance contracts\t2307\t2115\t28\t40\t28\t40\t0\t0\nGMWB hedging instruments\t7489\t7793\t47\t71\t86\t114\t(39)\t(43)\nMacro hedge program\t14140\t10765\t35\t247\t107\t288\t(72)\t(41)\nOther\t\t\t\t\t\t\t\t\nModified coinsurance reinsurance contracts\t807\t798\t(12)\t12\t0\t12\t(12)\t0\nTotal non-qualifying strategies\t41621\t35535\t(126)\t100\t281\t507\t(407)\t(407)\nTotal cash flow hedges and non-qualifying strategies\t41631\t35535\t(126)\t100\t281\t507\t(407)\t(407)\nBalance Sheet Location\t\t\t\t\t\t\t\t\nFixed maturities available-for-sale\t41\t41\t0\t0\t0\t0\t0\t0\nOther investments\t7180\t11000\t127\t212\t153\t248\t(26)\t(36)\nOther liabilities\t20269\t11623\t(240)\t(84)\t100\t207\t(340)\t(291)\nReinsurance recoverables\t3114\t2914\t16\t52\t28\t52\t(12)\t0\nOther policyholder funds and benefits payable\t11027\t9957\t(29)\t(80)\t0\t0\t(29)\t(80)\nTotal derivatives\t41631\t35535\t(126)\t100\t281\t507\t(407)\t(407)\n", "q10k_tbl_30": "Offsetting Derivative Assets and Liabilities (Successor Company)\t\t\t\t\t\t\n\t(i)\t(ii)\t(iii) = (i) - (ii)\t\t(iv)\t(v) = (iii) - (iv)\n\t\t\tNet Amounts Presented in the Statement of Financial Position\t\tCollateral Disallowed for Offset in the Statement of Financial Position\t\n\tGross Amounts of Recognized Assets (Liabilities)\tGross Amounts Offset in the Statement of Financial Position\tDerivative Assets [1] (Liabilities) [2]\tAccrued Interest and Cash Collateral Received [3] Pledged [2]\tFinancial Collateral Received [4]\tNet Amount\nAs of March 31 2019\t\t\t\t\t\t\nOther investments\t253\t214\t127\t(88)\t11\t28\nOther liabilities\t(366)\t(66)\t(240)\t(60)\t(298)\t(2)\nAs of December 31 2018\t\t\t\t\t\t\nOther investments\t455\t352\t212\t(109)\t65\t38\nOther liabilities\t(327)\t(147)\t(84)\t(96)\t(178)\t(2)\n", "q10k_tbl_31": "Derivatives in Cash Flow Hedging Relationships\t\t\t\t\n\tGain or (Loss) Reclassified from AOCI into Income\t\t\t\n\tSuccessor Company\t\tPredecessor Company\t\n\tFor the three months ended March 31 2019\t\tFor the three months ended March 31 2018\t\n\tNet Capital Gain/(Loss)\tNet Investment Income\tNet Capital Gain/(Loss)\tNet Investment Income\nInterest rate swaps\t0\t0\t0\t5\nForeign currency swaps\t0\t0\t2\t0\nTotal\t0\t0\t2\t5\nTotal amounts presented on the Condensed Consolidated Statements of Operations\t(193)\t238\t21\t312\n", "q10k_tbl_32": "Non-Qualifying Strategies Recognized within Net Realized Capital Gains (Losses)\t\t\n\tSuccessor Company\tPredecessor Company\n\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nVariable annuity hedge program:\t\t\nGMWB product derivatives\t65\t39\nGMWB reinsurance contracts\t(5)\t(13)\nGMWB hedging instruments\t(46)\t(22)\nMacro hedge program\t(226)\t18\nTotal variable annuity hedge program\t(212)\t22\nForeign exchange contracts:\t\t\nForeign currency swaps and forwards\t0\t(3)\nFixed payout annuity hedge\t(4)\t20\nTotal foreign exchange contracts\t(4)\t17\nOther non-qualifying derivatives:\t\t\nInterest rate contracts\t\t\nInterest rate swaps and futures\t30\t(30)\nCredit contracts\t\t\nCredit derivatives that purchase credit protection\t0\t0\nCredit derivatives that assume credit risk\t6\t(1)\nEquity contracts\t\t\nEquity index swaps and options\t0\t0\nOther\t\t\nModified coinsurance reinsurance contracts\t(24)\t26\nTotal other non-qualifying derivatives\t12\t(5)\nTotal [1]\t(204)\t34\n", "q10k_tbl_33": "Credit Derivatives by Type\t\t\t\t\t\nAs of March 31 2019\t\t\t\t\t\nSuccessor Company\t\t\t\t\t\n\t\t\tUnderlying Referenced Credit Obligation(s) [1]\t\t\nCredit Derivative Type by Derivative Risk Exposure\tNotional Amount [2]\tFair Value\tWeighted Average Years to Maturity Type\tAverage Credit Rating Offsetting Notional Amount [3]\tOffsetting Fair Value [3]\nSingle name credit default swaps\t\t\t\t\t\nInvestment grade risk exposure\t65\t1\t5 years Corporate Credit\tA- $-\t0\nBasket credit default swaps [4]\t\t\t\t\t\nInvestment grade risk exposure\t202\t4\t5 years Corporate Credit\tBBB+ -\t0\nTotal [5]\t267\t5\t\t0\t0\n", "q10k_tbl_34": "As of December 31 2018\t\t\t\t\t\t\t\nSuccessor Company\t\t\t\t\t\t\t\n\t\t\t\tUnderlying Referenced Credit Obligation(s) [1]\t\t\t\nCredit Derivative type by derivative risk exposure\tNotional Amount [2]\tFair Value\tWeighted Average Years to Maturity\tType\tAverage Credit Rating\tOffsetting Notional Amount [3]\tOffsetting Fair Value [3]\nSingle name credit default swaps\t\t\t\t\t\t\t\nInvestment grade risk exposure\t80\t1\t4 years\tCorporate Credit/ Foreign Gov.\tA\t0\t0\nBasket credit default swaps [4]\t\t\t\t\t\t\t\nInvestment grade risk exposure\t202\t1\t5 years\tCorporate Credit\tBBB+\t0\t0\nBelow investment grade risk exposure\t80\t2\t5 years\tCorporate Credit\tB+\t0\t0\nInvestment grade risk exposure\t12\t(1)\t5 years\tCMBS Credit\tA-\t2\t0\nBelow investment grade risk exposure\t19\t(5)\tLess than 1 Year\tCMBS Credit\tB-\t19\t5\nTotal [5]\t393\t(2)\t\t\t\t21\t5\n", "q10k_tbl_35": "Reinsurance Recoverables\t\t\n\tSuccessor Company\t\n\tMarch 31 2019\tDecember 31 2018\nReserve for future policy benefits and other policyholder funds and benefits payable\t\t\nSold businesses (MassMutual and Prudential)\t19433\t19354\nCommonwealth\t8687\t8969\nOther reinsurers\t1201\t1241\nGross reinsurance recoverables\t29321\t29564\n", "q10k_tbl_36": "Insurance Revenues\t\t\n\tSuccessor Company\tPredecessor Company\n\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nGross earned premiums fee income and other\t576\t640\nReinsurance assumed\t30\t29\nReinsurance ceded\t(395)\t(411)\nNet earned premiums fee income and other\t211\t258\n", "q10k_tbl_37": "Changes in the DAC Balance [1]\t\t\n\tSuccessor Company\tPredecessor Company\n\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nBalance beginning of period\t0\t405\nAmortization - DAC\t0\t(8)\nAmortization - unlock charge pre-tax\t0\t(3)\nAdjustments to unrealized gains and losses on securities AFS and other\t0\t23\nBalance end of period\t0\t417\n", "q10k_tbl_38": "Changes in the VOBA Balance [1]\t\t\n\tSuccessor Company\tPredecessor Company\n\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nBalance beginning of period\t716\t0\nAmortization - VOBA [2]\t41\t0\nAmortization - Unlock benefit pre-tax\t2\t0\nAdjustments to unrealized gains and losses on securities AFS and other\t(18)\t0\nBalance end of period\t741\t0\n", "q10k_tbl_39": "Expected Amortization Expense of VOBA (Successor Company)\t\nYears\tExpected Amortization Expense\n2019 [1]\t25\n2020\t42\n2021\t53\n2022\t47\n2023\t43\n", "q10k_tbl_40": "Changes in Reserves for Future Policy Benefits\t\t\t\t\nSuccessor Company\t\t\t\t\n\tUniversal Life-Type Contracts\t\t\t\n\tGMDB/GMWB [1]\tUniversal Life Secondary Guarantees\tTraditional Annuity and Other Contracts [2]\tTotal Future Policy Benefits\nLiability balance as of January 1 2019\t462\t3276\t14585\t18323\nIncurred [3]\t17\t92\t99\t208\nPaid\t(24)\t(1)\t(192)\t(217)\nLiability balance as of March 31 2019\t455\t3367\t14492\t18314\nReinsurance recoverable asset as of January 1 2019\t284\t3276\t4972\t8532\nIncurred [3]\t13\t92\t5\t110\nPaid\t(19)\t(1)\t(64)\t(84)\nReinsurance recoverable asset as of March 31 2019\t278\t3367\t4913\t8558\n", "q10k_tbl_41": "Predecessor Company\t\t\t\t\n\tUniversal Life-Type Contracts\t\t\t\n\tGMDB/GMWB [1]\tUniversal Life Secondary Guarantees\tTraditional Annuity and Other Contracts [2]\tTotal Future Policy Benefits\nLiability balance as of January 1 2018\t873\t2940\t10669\t14482\nIncurred [3]\t35\t87\t105\t227\nPaid\t(28)\t0\t(194)\t(222)\nChange in unrealized investment gains and losses\t0\t0\t(205)\t(205)\nLiability balance as of March 31 2018\t880\t3027\t10375\t14282\nReinsurance recoverable asset as of January 1 2018\t464\t2940\t1742\t5146\nIncurred [3]\t22\t87\t(55)\t54\nPaid\t(22)\t0\t(12)\t(34)\nReinsurance recoverable asset as of March 31 2018\t464\t3027\t1675\t5166\n", "q10k_tbl_42": "Account Value by GMDB/GMWB Type as of March 31 2019 (Successor Company)\t\t\t\t\n\tAccount Value (\"AV\") [9]\tNet Amount at Risk (\"NAR\") [10]\tRetained Net Amount at Risk (\"RNAR\") [10]\tWeighted Average Attained Age of Annuitant\nMaximum anniversary value (\"MAV\") [1]\t\t\t\t\nMAV only\t12268\t1828\t280\t72\nWith 5% rollup [2]\t998\t116\t39\t72\nWith Earnings Protection Benefit Rider (\"EPB\") [3]\t3102\t488\t77\t72\nWith 5% rollup & EPB\t430\t98\t21\t74\nTotal MAV\t16798\t2530\t417\t\nAsset Protection Benefit (APB) [4]\t8470\t115\t77\t70\nLifetime Income Benefit (LIB) - Death Benefit [5]\t382\t4\t4\t72\nReset [6] (5-7 years)\t2243\t5\t5\t71\nReturn of Premium [7] /Other\t5917\t59\t57\t72\nVariable Annuity without GMDB [8]\t2019\t0\t0\t69\nSubtotal Variable Annuity [11]\t35829\t2713\t560\t71\nLess: General Account Value\t3326\t\t\t\nSubtotal Separate Account Liabilities with GMDB\t32503\t\t\t\nSeparate Account Liabilities - Other [12]\t72306\t\t\t\nTotal Separate Account Liabilities\t104809\t\t\t\n", "q10k_tbl_43": "Account Balance Breakdown of Variable Separate Account Investments for Contracts with Guarantees\t\t\n\tSuccessor Company\t\nAsset type\tAs of March 31 2019\tAs of December 31 2018\nEquity securities (including mutual funds)\t30832\t28953\nCash and cash equivalents\t1671\t1286\nTotal [1]\t32503\t30239\n", "q10k_tbl_44": "Other Intangible Assets\t\t\t\t\nAs of March 31 2019 (Successor Company)\t\t\t\t\n\tGross Carrying Amount\tAccumulated Amortization\tNet Carrying Amount\tWeighted Average Expected Life\nAmortizing Intangible Assets [1]\t29\t5\t24\t5\nTotal Indefinite Lived Intangible Assets [2]\t26\t0\t26\t0\nTotal Other Intangible Assets\t55\t5\t50\t5\n", "q10k_tbl_45": "Expected Pre-tax Amortization Expense (Successor Company)\t\nYears\tExpected Future Amortization Expense\n2019\t5\n2020\t6\n2021\t6\n2022\t6\n2023\t1\n", "q10k_tbl_46": "Income Tax Rate Reconciliation\t\t\n\tSuccessor Company\tPredecessor Company\n\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nTax provision at the U.S. federal statutory rate\t7\t30\nDividends-received deduction (\"DRD\")\t(6)\t(7)\nForeign related investments\t(2)\t(2)\nTax reform\t0\t(2)\nOther\t0\t1\nProvision for income taxes\t(1)\t20\n", "q10k_tbl_47": "Successor Company\t\t\t\t\nChanges in AOCI Net of Tax for the Three Months Ended March 31 2019\t\t\t\t\n\tChanges in\t\t\t\n\tNet Unrealized Gain on Securities\tNet Gain on Cash Flow Hedging Instruments\tForeign Currency Translation Adjustments\tAOCI net of tax\nBeginning balance\t(173)\t0\t2\t(171)\nOCI before reclassifications\t359\t0\t(2)\t357\nAmounts reclassified from AOCI\t(5)\t0\t0\t(5)\nOCI net of tax\t354\t0\t(2)\t352\nEnding balance\t181\t0\t0\t181\n", "q10k_tbl_48": "Predecessor Company\t\t\t\t\nChanges in AOCI Net of Tax for the Three Months Ended March 31 2018\t\t\t\t\n\tChanges in\t\t\t\n\tNet Unrealized Gain on Securities\tNet Gain on Cash Flow Hedging Instruments\tForeign Currency Translation Adjustments\tAOCI net of tax\nBeginning balance\t1022\t4\t(3)\t1023\nCumulative effect of accounting changes net of tax [1]\t182\t0\t0\t182\nAdjusted balance beginning of period\t1204\t4\t(3)\t1205\nOCI before reclassifications\t(301)\t(12)\t1\t(312)\nAmounts reclassified from AOCI\t(3)\t(6)\t0\t(9)\nOCI net of tax\t(304)\t(18)\t1\t(321)\nEnding balance\t900\t(14)\t(2)\t884\n", "q10k_tbl_49": "Reclassifications from AOCI\t\t\t\n\tSuccessor Company\tPredecessor Company\t\n\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\tAffected Line Item in the Condensed Consolidated Statement of Operations\nNet Unrealized Gain on Securities\t\t\t\nAvailable-for-sale securities\t6\t4\tNet realized capital gains (losses)\n\t6\t4\tIncome before income taxes\n\t1\t1\tIncome tax expense (benefit)\n\t5\t3\tNet income\nNet Gains on Cash Flow Hedging Instruments\t\t\t\nInterest rate swaps\t0\t5\tNet investment income\nForeign currency swaps\t0\t2\tNet realized capital gains (losses)\n\t0\t7\tIncome before income taxes\n\t0\t1\tIncome tax expense (benefit)\n\t0\t6\tNet income\nTotal amounts reclassified from AOCI\t5\t9\tNet income\n", "q10k_tbl_50": "Operating Summary\t\t\n\tSuccessor Company\tPredecessor Company\n\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nFee income and other\t203\t231\nEarned premiums\t8\t27\nNet investment income\t238\t312\nNet realized capital gains (losses)\t(193)\t21\nAmortization of deferred reinsurance gain\t15\t0\nTotal revenues\t271\t591\nBenefits losses and loss adjustment expenses\t174\t325\nAmortization of deferred policy acquisition costs (\"DAC\") and value of business acquired (\"VOBA\")\t(43)\t11\nInsurance operating costs and other expenses\t106\t108\nOther intangible asset amortization\t1\t0\nDividends to policyholders\t2\t2\nTotal benefits losses and expenses\t240\t446\nIncome before income taxes\t31\t145\nIncome tax expense (benefit)\t(1)\t20\nNet income\t32\t125\n", "q10k_tbl_51": "Composition of Invested Assets\t\t\t\t\n\tSuccessor Company\t\t\t\n\tMarch 31 2019\t\tDecember 31 2018\t\n\tAmount\tPercent\tAmount\tPercent\nFixed maturities available-for-sale (\"AFS\") at fair value\t13977\t69.9%\t13839\t71.2%\nFixed maturities at fair value using the fair value option (\"FVO\")\t11\t0.1%\t12\t0.1%\nEquity securities at fair value\t173\t0.9%\t116\t0.6%\nMortgage loans\t2085\t10.4%\t2100\t10.8%\nPolicy loans at outstanding balance\t1452\t7.3%\t1441\t7.4%\nLimited partnerships and other alternative investments\t912\t4.6%\t894\t4.6%\nOther investments [1]\t166\t0.8%\t201\t1.0%\nShort-term investments\t1204\t6.0%\t844\t4.3%\nTotal investments\t19980\t100%\t19447\t100%\n", "q10k_tbl_52": "Net Investment Income\t\t\t\t\n\tSuccessor Company\t\tPredecessor Company\t\n\tFor the Three Months Ended March 31 2019\t\tFor the Three Months Ended March 31 2018\t\n(Before tax)\tAmount\tYield [1]\tAmount\tYield [1]\nFixed maturities [2]\t145\t4.0%\t236\t4.6%\nEquity securities\t2\t3.9%\t3\t6.6%\nMortgage loans\t24\t4.6%\t34\t4.8%\nPolicy loans\t22\t6.0%\t18\t5.0%\nLimited partnerships and other alternative investments\t42\t19.3%\t24\t9.7%\nOther [3]\t7\t\t8\t\nInvestment expense\t(4)\t\t(11)\t\nTotal net investment income\t238\t5.0%\t312\t4.6%\nTotal net investment income excluding limited partnerships and other alternative investments\t196\t4.3%\t288\t4.5%\n", "q10k_tbl_53": "Net Realized Capital Gains (Losses)\t\t\n\tSuccessor Company\tPredecessor Company\n(Before tax)\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nGross gains on sales\t13\t21\nGross losses on sales\t(8)\t(17)\nEquity securities [1]\t2\t11\nResults of variable annuity hedge program\t\t\nGMWB derivatives net\t14\t4\nMacro hedge program\t(226)\t18\nTotal results of variable annuity hedge program\t(212)\t22\nTransactional foreign currency revaluation\t0\t(14)\nNon-qualifying foreign currency derivatives\t(4)\t17\nOther net [2]\t16\t(19)\nNet realized capital gains (losses)\t(193)\t21\n", "q10k_tbl_54": "Significant EGP-based Balances\t\t\n\tSuccessor Company\t\n\tAs of March 31 2019\tAs of December 31 2018\nVOBA [1]\t741\t716\nDeath and Other Insurance Benefit Reserves net of reinsurance [2]\t177\t178\n", "q10k_tbl_55": "Benefit (Charge) to Income Net of Tax as a Result of Unlock [1]\t\t\n\tSuccessor Company\tPredecessor Company\n\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nDAC\t0\t(3)\nVOBA\t2\t0\nDeath and Other Insurance Benefit Reserves\t1\t0\nTotal (pre tax)\t3\t(3)\nIncome tax effect\t1\t(1)\nTotal (after tax)\t2\t(2)\n", "q10k_tbl_56": "Successor Company\t\t\t\t\t\nTotal Variable Annuity Guarantees as of March 31 2019\t\t\t\t\t\n($ in billions)\tAccount Value\tGross Net Amount at Risk\tRetained Net Amount at Risk\t% of Contracts In the Money[2]\t% In the Money[2][3]\nVariable Annuity [1]\t\t\t\t\t\nGMDB [4]\t33.8\t2.7\t0.6\t27%\t14%\nGMWB\t15.1\t0.2\t0.1\t6%\t16%\n", "q10k_tbl_57": "Successor Company\t\t\t\t\t\nTotal Variable Annuity Guarantees as of December 31 2018\t\t\t\t\t\n($ in billions)\tAccount Value\tGross Net Amount at Risk\tRetained Net Amount at Risk\t% of Contracts In the Money[2]\t% In the Money[2][3]\nVariable Annuity [1]\t\t\t\t\t\nGMDB [4]\t31.8\t4.0\t1.2\t59%\t13%\nGMWB\t14.2\t0.3\t0.2\t11%\t13%\n", "q10k_tbl_58": "GAAP Sensitivity Analysis (before tax and VOBA) as of March 31 2019 [1]\t\t\t\t\t\t\nSuccessor company\t\t\t\t\t\t\n\tGMWB\t\t\tMacro\t\t\nEquity Market Return\t-20%\t-10%\t10%\t-20%\t-10%\t10%\nPotential Net Fair Value Impact\t(2)\t0\t(2)\t346\t139\t(100)\nInterest Rates\t-50bps\t-25bps\t+25bps\t-50bps\t-25bps\t+25bps\nPotential Net Fair Value Impact\t(5)\t(1)\t(1)\t37\t18\t(17)\nImplied Volatilities\t10%\t2%\t-10%\t10%\t2%\t-10%\nPotential Net Fair Value Impact\t(77)\t(14)\t55\t265\t54\t(269)\n", "q10k_tbl_59": "Gross and Net Reinsurance Recoverables\t\t\n\tSuccessor Company\t\nReinsurance Recoverables\tMarch 31 2019\tDecember 31 2018\nReserve for future policy benefits and other policyholder funds and benefits payable\t29321\t29564\nLess: Allowance for uncollectible reinsurance [1]\t0\t0\nNet reinsurance recoverables\t29321\t29564\n", "q10k_tbl_60": "Fixed Maturities by Credit Quality\t\t\t\t\t\t\n\tSuccessor Company\t\t\t\t\t\n\tMarch 31 2019\t\t\tDecember 31 2018\t\t\n\tAmortized Cost\tFair Value\tPercent of Total Fair Value\tAmortized Cost\tFair Value\tPercent of Total Fair Value\nUnited States Government/Government agencies\t1718\t1757\t12.6%\t1887\t1890\t13.7%\nAAA\t1288\t1303\t9.3%\t1301\t1297\t9.4%\nAA\t1631\t1660\t11.9%\t1629\t1614\t11.7%\nA\t4190\t4291\t30.7%\t4166\t4111\t29.7%\nBBB\t4299\t4378\t31.3%\t4387\t4276\t30.9%\nBB & below\t585\t588\t4.2%\t665\t651\t4.6%\nTotal fixed maturities AFS\t13711\t13977\t100%\t14035\t13839\t100%\n", "q10k_tbl_61": "Securities by Type\t\t\t\t\t\t\t\t\t\t\n\tSuccessor Company\t\t\t\t\t\t\t\t\t\n\tMarch 31 2019\t\t\t\t\tDecember 31 2018\t\t\t\t\n\tCost or Amortized Cost [1]\tGross Unrealized Gains\tGross Unrealized losses\tFair Value\tPercent of Total Fair Value\tCost or Amortized Cost [1]\tGross Unrealized Gains\tGross Unrealized losses\tFair Value\tPercent of Total Fair Value\nAsset backed securities (\"ABS\")\t\t\t\t\t\t\t\t\t\t\nConsumer loans\t306\t2\t0\t308\t2.2%\t437\t2\t0\t439\t3.2%\nOther\t74\t1\t0\t75\t0.5%\t77\t0\t0\t77\t0.5%\nCollateralized loan obligations (\"CLOs\")\t996\t9\t(8)\t997\t7.1%\t971\t5\t(13)\t963\t7.0%\nCommercial mortgage-backed securities (\"CMBS\")\t\t\t\t\t\t\t\t\t\t\nAgency backed [2]\t511\t5\t(1)\t515\t3.7%\t507\t2\t(4)\t505\t3.6%\nBonds\t840\t25\t0\t862\t6.2%\t803\t4\t(3)\t802\t5.8%\nInterest only (\"IOs\")\t102\t2\t0\t104\t0.7%\t99\t2\t0\t100\t0.7%\nCorporate\t\t\t\t\t\t\t\t\t\t\nBasic industry\t398\t9\t(3)\t406\t2.9%\t407\t1\t(17)\t393\t2.8%\nCapital goods\t621\t12\t(2)\t633\t4.5%\t646\t0\t(14)\t634\t4.6%\nConsumer cyclical\t363\t10\t(1)\t375\t2.7%\t349\t1\t(8)\t346\t2.5%\nConsumer non-cyclical\t1033\t20\t(6)\t1050\t7.5%\t1069\t1\t(38)\t1038\t7.5%\nEnergy\t856\t19\t(6)\t874\t6.3%\t880\t0\t(38)\t849\t6.1%\nFinancial services\t1379\t33\t(9)\t1407\t10.1%\t1363\t2\t(34)\t1334\t9.6%\nTech./comm.\t1262\t49\t(12)\t1306\t9.3%\t1209\t10\t(35)\t1189\t8.6%\nTransportation\t318\t6\t(3)\t321\t2.3%\t297\t1\t(11)\t287\t2.1%\nUtilities\t1494\t22\t(9)\t1514\t10.8%\t1520\t3\t(39)\t1490\t10.8%\nOther\t131\t3\t0\t134\t1.0%\t120\t0\t(2)\t118\t0.9%\nForeign govt./govt. agencies\t380\t14\t(1)\t390\t2.8%\t383\t3\t(6)\t377\t2.7%\nMunicipal bonds\t\t\t\t\t\t\t\t\t\t\nTaxable\t710\t21\t0\t732\t5.2%\t738\t5\t(10)\t734\t5.3%\nResidential mortgage-backed securities (\"RMBS\")\t\t\t\t\t\t\t\t\t\t\nAgency\t250\t4\t0\t254\t1.8%\t254\t1\t(1)\t254\t1.8%\nNon-agency\t323\t3\t0\t326\t2.3%\t329\t1\t(1)\t329\t2.4%\nAlt-A\t22\t0\t0\t22\t0.2%\t23\t0\t0\t23\t0.2%\nSub-prime\t385\t0\t(1)\t384\t2.8%\t428\t1\t(2)\t427\t3.1%\nU.S. Treasuries\t957\t31\t0\t988\t7.1%\t1126\t8\t(3)\t1131\t8.2%\nFixed maturities AFS\t13711\t300\t(62)\t13977\t100%\t14035\t53\t(279)\t13839\t100%\nFixed maturities FVO\t\t\t\t11\t\t\t\t\t12\t\nEquity securities at fair value\t\t\t\t173\t\t\t\t\t116\t\n", "q10k_tbl_62": "Successor Company\t\t\t\t\t\t\t\t\t\t\t\t\nMarch 31 2019\t\t\t\t\t\t\t\t\t\t\t\t\n\tAAA\t\tAA\t\tA\t\tBBB\t\tBB and Below\t\tTotal\t\n\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\nCMBS\t\t\t\t\t\t\t\t\t\t\t\t\nAgency\t511\t515\t0\t0\t0\t0\t0\t0\t0\t0\t511\t515\nBonds\t226\t230\t258\t264\t189\t196\t138\t143\t29\t29\t840\t862\nInterest Only\t74\t76\t19\t19\t5\t5\t3\t3\t1\t1\t102\t104\nTotal CMBS\t811\t821\t277\t283\t194\t201\t141\t146\t30\t30\t1453\t1481\nRMBS\t\t\t\t\t\t\t\t\t\t\t\t\nAgency\t250\t254\t0\t0\t0\t0\t0\t0\t0\t0\t250\t254\nNon-Agency\t143\t144\t87\t88\t73\t74\t17\t17\t3\t3\t323\t326\nAlt-A\t0\t0\t4\t4\t0\t0\t3\t3\t15\t15\t22\t22\nSub-Prime\t8\t8\t8\t8\t122\t122\t93\t93\t154\t153\t385\t384\nTotal RMBS\t401\t406\t99\t100\t195\t196\t113\t113\t172\t171\t980\t986\nTotal CMBS & RMBS\t1212\t1227\t376\t383\t389\t397\t254\t259\t202\t201\t2433\t2467\n", "q10k_tbl_63": "Successor Company\t\t\t\t\t\t\t\t\t\t\t\t\nDecember 31 2018\t\t\t\t\t\t\t\t\t\t\t\t\n\tAAA\t\tAA\t\tA\t\tBBB\t\tBB and Below\t\tTotal\t\n\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\nCMBS\t\t\t\t\t\t\t\t\t\t\t\t\nAgency\t507\t505\t0\t0\t0\t0\t0\t0\t0\t0\t507\t505\nBonds\t238\t236\t249\t249\t188\t188\t121\t121\t7\t8\t803\t802\nInterest Only\t76\t77\t16\t16\t3\t3\t3\t3\t1\t1\t99\t100\nTotal CMBS\t821\t818\t265\t265\t191\t191\t124\t124\t8\t9\t1409\t1407\nRMBS\t\t\t\t\t\t\t\t\t\t\t\t\nAgency\t254\t254\t0\t0\t0\t0\t0\t0\t0\t0\t254\t254\nNon-Agency\t153\t153\t89\t89\t68\t68\t17\t17\t2\t2\t329\t329\nAlt-A\t0\t0\t5\t5\t0\t0\t3\t3\t15\t15\t23\t23\nSub-Prime\t14\t14\t9\t9\t111\t111\t97\t97\t197\t196\t428\t427\nTotal RMBS\t421\t421\t103\t103\t179\t179\t117\t117\t214\t213\t1034\t1033\nTotal CMBS & RMBS\t1242\t1239\t368\t368\t370\t370\t241\t241\t222\t222\t2443\t2440\n", "q10k_tbl_64": "\tSuccessor Company\t\tPredecessor Company\t\n\tFor the three months ended March 31 2019\t\tFor the three months ended March 31 2018\t\n\tAmount\tYield\tAmount\tYield\nHedge funds\t1\t6.7%\t2\t4.1%\nReal estate funds\t5\t31.8%\t0\t-%\nPrivate equity and other funds\t36\t19.6%\t22\t13.1%\nTotal\t42\t19.3%\t24\t9.7%\n", "q10k_tbl_65": "\tSuccessor Company\t\t\t\n\tMarch 31 2019\t\tDecember 31 2018\t\n\tAmount\tPercent\tAmount\tPercent\nHedge funds\t87\t9.5%\t85\t9.5%\nReal estate funds\t63\t6.9%\t73\t8.2%\nPrivate equity and other funds\t762\t83.6%\t736\t82.3%\nTotal\t912\t100%\t894\t100%\n", "q10k_tbl_66": "\tSuccessor Company\t\t\t\t\t\t\t\n\tMarch 31 2019\t\t\t\tDecember 31 2018\t\t\t\nConsecutive Months\tItems\tCost or Amortized Cost [1]\tFair Value\tUnrealized Loss\tItems\tCost or Amortized Cost [1]\tFair Value\tUnrealized Loss\nThree months or less\t126\t233\t243\t(3)\t655\t2449\t2436\t(51)\nGreater than three to six months\t161\t1012\t1000\t(12)\t562\t2312\t2249\t(64)\nGreater than six to nine months\t141\t487\t478\t(9)\t1017\t5869\t5702\t(164)\nGreater than nine to eleven months\t315\t1521\t1483\t(38)\t0\t0\t0\t0\nTotal\t743\t3253\t3204\t(62)\t2234\t10630\t10387\t(279)\n", "q10k_tbl_67": "\tAs of March 31 2019\nFixed maturities\t13988\nShort-term investments\t1204\nCash\t104\nLess: Derivative collateral\t534\nTotal\t14762\n", "q10k_tbl_68": "Contractholder Obligations\t\n\tAs of March 31 2019\nTotal Contractholder obligations\t151305\nLess: Separate account assets [1]\t104809\nGeneral account contractholder obligations\t46496\nComposition of General Account Contractholder Obligations\t\nContracts without a surrender provision and/or fixed payout dates [2]\t23138\nFixed MVA annuities [3]\t3788\nOther [4]\t19570\nGeneral account contractholder obligations\t46496\n", "q10k_tbl_69": "\tSuccessor Company\tPredecessor Company\n\tFor the Three Months Ended March 31 2019\tFor the Three Months Ended March 31 2018\nNet cash provided by operating activities\t382\t267\nNet cash used for investing activities\t(142)\t(187)\nNet cash used for financing activities\t(359)\t(340)\nCash - end of period\t104\t277\n", "q10k_tbl_70": "U.S. statutory capital as of March 31 2019 [1]\t3687\nU.S. GAAP adjustments:\t\nVOBA\t741\nNon-admitted deferred tax assets\t82\nDeferred income taxes\t489\nOther intangible assets\t50\nNon-admitted assets other than deferred tax assets\t23\nAsset valuation reserve and interest maintenance reserve\t448\nBenefit reserves\t(3204)\nUnrealized gain on investments\t857\nDeferred gain on reinsurance\t(977)\nOther net\t193\nU.S. GAAP stockholder's equity as of March 31 2019\t2389\n", "q10k_tbl_71": "Exhibit No.\t\n3.01\tRestated Certificate of Incorporation of Talcott Resolution Life Insurance Company (the \"Company\") effective April 2 1982 as amended by Amendment No. 1 effective August 3 1984 as amended by Amendment No. 2 effective December 31 1996 as amended by Amendment No. 3 effective July 25 2000 as amended by Amendment No. 4 effective June 1 2018.\n3.02\tAmended and Restated By-Laws of Talcott Resolution Life Insurance Company effective June 1 2018.\n31.01\tCertification of Peter F. Sannizzaro pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**\n31.02\tCertification of Robert R. Siracusa pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**\n32.01\tCertification of Peter F. Sannizzaro pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**\n32.02\tCertification of Robert R. Siracusa pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**\n101.INS\tXBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\n101.SCH\tXBRL Taxonomy Extension Schema **\n101.CAL\tXBRL Taxonomy Extension Calculation Linkbase **\n101.DEF\tXBRL Taxonomy Extension Definition Linkbase **\n101.LAB\tXBRL Taxonomy Extension Label Linkbase **\n101.PRE\tXBRL Taxonomy Extension Presentation Linkbase **\n"}{"bs": "q10k_tbl_4", "is": "q10k_tbl_2", "cf": "q10k_tbl_7"}None
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 6. Exhibits
Exhibits
EX-31.01
tl10q3312019ex3101.htm
EX-31.02
tl10q3312019ex3102.htm
EX-32.01
tl10q3312019ex3201.htm
EX-32.02
tl10q3312019ex3202.htm
Talcott Resolution Life Insurance Earnings 2019-03-31
Balance Sheet
Income Statement
Cash Flow
Assets, Equity
Rev, G Profit, Net Income
Ops, Inv, Fin
Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
10-Q
(Mark One)
x
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2019
or
o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 001-32293
TALCOTT RESOLUTION LIFE INSURANCE COMPANY
(Exact name of registrant as specified in its charter)
Connecticut
06-0974148
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
One Griffin Road North, Windsor, Connecticut 06095
(Address of principal executive offices)
(800) 862-6668
(Registrant’s telephone number, including area code)
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
Indicate by check mark:
Yes
No
• whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
x
¨
• whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
x
¨
• whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer o
Accelerated filer o
Non Accelerated filer x
Smaller reporting company o
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
• whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)
¨
x
• whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.
o
o
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol(s)
Name of Each Exchange on Which Registered
As of May 3, 2019, there were outstanding 1,000 shares of Common Stock, $5,690 par value per share, of the registrant.
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TALCOTT RESOLUTION LIFE INSURANCE COMPANY
QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2019
TABLE OF CONTENTS
Item
Description
Page
Part I. FINANCIAL INFORMATION
1.
Financial Statements
Condensed Consolidated Statements of Operations — For the Three Months Ended March 31, 2019 (Successor Company) and For the Three Months Ended March 31, 2018 (Predecessor Company)
Condensed Consolidated Statements of Comprehensive Income (Loss) — For the Three Months Ended March 31, 2019 (Successor Company) and For the Three Months Ended March 31, 2018 (Predecessor Company)
Condensed Consolidated Statements of Changes in Stockholder's Equity — For the Three Months Ended March 31, 2019 (Successor Company) and For the Three Months Ended March 31, 2018 (Predecessor Company)
Condensed Consolidated Statements of Cash Flows — For the Three Months Ended March 31, 2019 (Successor Company) and For the Three Months Ended March 31, 2018 (Predecessor Company)
Certain of the statements contained herein are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “projects,” and similar references to future periods.
Forward-looking statements are based on management's current expectations and assumptions regarding future economic, competitive, legislative and other developments and their potential effect upon Talcott Resolution Life Insurance Company (formerly "Hartford Life Insurance Company") and its subsidiaries (collectively, the “Company”). Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual results could differ materially from expectations, depending on the evolution of various factors, including the risks and uncertainties identified below, as well as factors described in such forward-looking statements or in Part I, Item 1A, Risk Factors, in the Company’s 2018 Form 10-K Annual Report and those identified from time to time in our other filings with the Securities and Exchange Commission ("SEC").
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Risks Relating to Economic, Political and Global Market Conditions:
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challenges related to the Company's current operating environment, including global, political, economic and market conditions, and the effect of financial market disruptions, economic downturns or other potentially adverse macroeconomic developments on our products, the returns in our investment portfolios and the hedging costs associated with our run-off annuity block;
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financial risk related to the continued reinvestment of our investment portfolios and performance of our hedge program for our run-off annuity block;
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market risks associated with our business, including changes in credit spreads, equity prices, interest rates, market volatility and foreign exchange rates;
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the impact on our investment portfolio if our investment portfolio is concentrated in any particular segment of the economy;
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Insurance Industry and Product Related Risks:
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volatility in our statutory earnings and earnings calculated in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") and potential material changes to our financial results resulting from our adjustment of our risk management program to emphasize protection of statutory surplus and economic value;
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the possibility of a terrorist attack, a pandemic, or other natural or man-made disaster that may increase the Company's mortality exposure and adversely affect its businesses;
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the possibility of losses from increased life expectancy trends among policyholders receiving long-term life contingent benefit payments;
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the possibility that the liability reserves for our payout annuities may be inadequate if there are medical improvements or other technological improvements that change our mortality assumptions;
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losses resulting from unanticipated policyholder behavior especially when combined with adverse market events;
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Financial Strength, Credit and Counterparty Risks:
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risks to our business, financial position, prospects and results associated with negative rating actions or downgrades in the Company's financial strength and credit ratings or negative rating actions or downgrades relating to our investments;
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the impact on our statutory capital of various factors, including many that are outside the Company’s control, which can in turn affect our credit and financial strength ratings, cost of capital, regulatory compliance and other aspects of our business and results;
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losses due to nonperformance or defaults by others, including sourcing partners, derivative counterparties and other third parties;
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the potential for losses due to our reinsurers' unwillingness or inability to meet their obligations under reinsurance contracts and the availability, pricing and adequacy of reinsurance to protect the Company against losses;
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regulatory limitations on the ability of the Company and certain of its subsidiaries to declare and pay dividends;
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Risks Relating to Estimates, Assumptions and Valuations:
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risk associated with the use of analytical models in making decisions in key areas such as capital management, hedging, and reserving;
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the potential for differing interpretations of the methodologies, estimations and assumptions that underlie the Company’s fair value estimates for its investments and the evaluation of the other-than-temporary impairments on available-for-sale securities;
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the potential for further acceleration in amortization of the present value of the business acquired ("VOBA") and an increase in reserve for certain guaranteed benefits in our variable annuities;
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the potential for valuation allowances against deferred tax assets;
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Strategic and Operational Risks:
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the risks associated with separating our operations from those of our former parent and establishing a stand-alone company, including increased costs related to replacing third-party arrangements previously obtained through our former parent;
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the Company’s ability to maintain the availability of its systems and safeguard the security of its data in the event of a disaster, cyber or other information security incident or other unanticipated event;
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the potential for difficulties arising from outsourcing and similar third-party relationships;
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the risks, challenges and uncertainties associated with the Company's initiatives and other actions, which may include acquisitions and divestitures;
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the Company’s ability to protect its intellectual property and defend against claims of infringement;
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Regulatory and Legal Risks:
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the cost and other potential effects of increased regulatory and legislative developments, including those that could adversely impact the Company’s operating costs and required capital levels;
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unfavorable judicial or legislative developments;
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the impact of changes in federal or state tax laws that could impact the tax-favored status of life and annuity contracts; and
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the impact of potential changes in accounting and financial reporting requirements of the liability for future policy benefits, including how we account for our long-duration insurance contracts, including the discounting of life contingent fixed annuities.
Any forward-looking statement made by the Company in this document speaks only as of the date of the filing of this Form 10-Q. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.