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INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2025
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, 2025 |  | December 31, 2024
AS OF US$ MILLIONS |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Distributor relationships |  | $ | 1,466 |  |  | $ | (71) |  |  | $ | 1,395 |  |  | $ | 1,466 |  |  | $ | (43) |  |  | $ | 1,423 |
Trade name |  | 71 |  |  | (13) |  |  | 58 |  |  | 71 |  |  | (9) |  |  | 62 |
Unpaid claims reserve intangible asset |  | 103 |  |  | (50) |  |  | 53 |  |  | 103 |  |  | (37) |  |  | 66 |
Software and other |  | 148 |  |  | (39) |  |  | 109 |  |  | 85 |  |  | (17) |  |  | 68 |
Total definite-lived intangible assets |  | 1,788 |  |  | (173) |  |  | 1,615 |  |  | 1,725 |  |  | (106) |  |  | 1,619 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Insurance licenses |  | 67 |  |  | — |  |  | 67 |  |  | 71 |  |  | — |  |  | 71 |
Total |  | $ | 1,855 |  |  | $ | (173) |  |  | $ | 1,682 |  |  | $ | 1,796 |  |  | $ | (106) |  |  | $ | 1,690 |
No impairment expenses of intangible assets were recognized for the three and six months ended June 30, 2025 and 2024. The Company estimates that its intangible assets do not have any significant residual value in determining their amortization. Amortization expenses were $30 million and $67 million for the three and six months ended June 30, 2025 and $23 million and $35 million for the three and six months ended June 30, 2024, respectively. The following table outlines the estimated future amortization expense related to definite-lived intangible assets held as of June 30, 2025.
Years |  | US$ MILLIONS
2025(1) |  | $ | 61 |
2026 |  | 119 |
2027 |  | 100 |
2028 |  | 90 |
2029 |  | 80 |
Thereafter |  | 1,165 |
Total amortization expense |  | $ | 1,615 |
__________________________ (1)Expected amortization for the remainder of 2025.

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