XML 33 R23.htm IDEA: XBRL DOCUMENT v3.25.2
INTANGIBLE ASSETS
 6 Months Ended
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, 2025December 31, 2024
AS OF
US$ MILLIONS		Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Definite-lived intangible assets:
Distributor relationships
$1,466 $(71)$1,395 $1,466 $(43)$1,423 
Trade name71 (13)58 71 (9)62 
Unpaid claims reserve intangible asset103 (50)53 103 (37)66 
Software and other148 (39)109 85 (17)68 
Total definite-lived intangible assets1,788 (173)1,615 1,725 (106)1,619 
Indefinite-lived intangible assets:
Insurance licenses67 — 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 $35 million for the three and six months ended June 30, 2024, respectively.
The following table outlines the estimated future amortization expense related to definite-lived intangible assets held as of June 30, 2025.
YearsUS$ MILLIONS
2025(1)
$61 
2026119 
2027100 
202890 
202980 
Thereafter1,165 
Total amortization expense$1,615 
__________________________
(1)Expected amortization for the remainder of 2025.