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INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The components of definite-lived and indefinite-lived intangible assets are as follows. Refer to Note 14 for VOBA asset, which is an actuarial intangible asset arising from a business combination.
June 30, 2024December 31, 2023
AS OF
US$ MILLIONS		Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Definite-lived intangible assets:
Distributor relationships$1,505 $(12)$1,493 $28 $— $28 
Trade name71 (5)66 24 (2)22 
Unpaid claims reserve intangible asset
103 (20)83 104 (5)99 
Software and other69 (5)64 32 (2)30 
Total definite-lived intangible assets1,748 (42)1,706 188 (9)179 
Indefinite-lived intangible assets:
Insurance licenses71 — 71 56 — 56 
Total$1,819 $(42)$1,777 $244 $(9)$235 
No impairment expenses of intangible assets were recognized for the six months ended June 30, 2024 and 2023. We estimate that our intangible assets do not have any significant residual value in determining their amortization. Amortization expenses were $23 million and $35 million for the three and six months ended June 30, 2024 respectively, and nil and $1 million for the three and six months ended June 30, 2023 respectively.
The following table outlines the estimated future amortization expense related to definite-lived intangible assets held as of June 30, 2024.
YearsUS$ MILLIONS
20241
$57 
2025105 
202697 
202792 
202886 
Thereafter1,269 
Total amortization expense$1,706 
1.Expected amortization for the remainder of 2024.