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INSURANCE INTANGIBLES, UNEARNED REVENUE RESERVES AND UNEARNED FRONT-END LOADS (Tables) | 12 Months Ended
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Dec. 31, 2022
Insurance [Abstract] |
Changes to Deferred Policy Acquisition Costs | The following reflects the changes to the DAC asset:
| Years Ended December 31,
| 2022 |  | 2021
Balance, as of beginning of period | $ | 447,886 |  |  | $ | — |
Deferrals | 486,992 |  |  | 459,781 |
Amortized to expense during the period(1) | (84,445) |  |  | (23,492) |
Adjustment for unrealized investment-related (gains) losses during the period | (21,435) |  |  | 11,597 |
Balance, as of end of period | $ | 828,998 |  |  | $ | 447,886 |
(1)These amounts are reported within amortization of policy acquisition costs in the consolidated statements of operations.
Changes to Value of Business Acquired Asset | The following reflects the changes to the VOBA asset:
| Years Ended December 31,
| 2022 |  | 2021
Balance, as of beginning of period | $ | 959,263 |  |  | $ | 1,024,520 |
Amortized to expense during the period(1) | (65,580) |  |  | (65,257) |
Balance, as of end of period | $ | 893,683 |  |  | $ | 959,263 |
(1)These amounts are reported within amortization of policy acquisition costs in the consolidated statements of operations.
Changes to Value of Business Acquired Liability | The following reflects the changes to the negative VOBA liability:
| Years Ended December 31,
| 2022 |  | 2021
Balance, as of beginning of period | $ | 1,118,716 |  |  | $ | 1,273,414 |
Amortized to expense during the period(1) | (139,035) |  |  | (154,698) |
Balance, as of end of period | $ | 979,681 |  |  | $ | 1,118,716 |
(1)These amounts are reported within amortization of policy acquisition costs in the consolidated statements of operations.
Estimated Future Amortization of VOBA | Estimated future amortization of VOBA and Negative VOBA as of December 31, 2022 is as follows:
Years | VOBA |  | Negative VOBA |  | Total, net
2023 | $ | 59,826 |  |  | $ | (117,695) |  |  | $ | (57,869) |
2024 | 56,255 |  |  | (95,547) |  |  | (39,292) |
2025 | 53,033 |  |  | (78,281) |  |  | (25,248) |
2026 | 49,998 |  |  | (64,462) |  |  | (14,464) |
2027 | 47,135 |  |  | (54,789) |  |  | (7,654) |
2028 and thereafter | 627,436 |  |  | (568,907) |  |  | 58,529 |
Total | $ | 893,683 |  |  | $ | (979,681) |  |  | $ | (85,998) |
Changes to Unearned Revenue Reserve | The following reflects the changes to the URR and UFEL:
| Years Ended December 31,
| 2022 |  | 2021
Balance, as of beginning of period | $ | 33,604 |  |  | $ | — |
Deferrals | 69,548 |  |  | 57,649 |
Amortized to expense during the period(1) | (23,886) |  |  | (12,247) |
Adjustment for unrealized investment-related gains during the period | (79,266) |  |  | (11,798) |
Balance, as of end of period | $ | — |  |  | $ | 33,604 |
(1)These amounts are reported within policy fees in the consolidated statements of operations.

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