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Deferred acquisition costs | 9 Months Ended
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Sep. 30, 2023
Deferred Policy Acquisition Costs Disclosures [Abstract] |
Deferred Policy Acquisition Costs | Deferred acquisition costs Deferred acquisition costs comprise capitalized costs on short-duration contracts of $3,283 million and $2,809 million and long-duration contracts of $3,573 million and $2,979 million at September 30, 2023, and September 30, 2022, respectively. The assumptions used to amortize DAC were consistent with the assumptions used to estimate the liability for future policy benefits for nonparticipating traditional and limited-payment contracts. The following tables present a roll-forward of deferred acquisitions costs on long-duration contracts included in the Life Insurance segment:
| Nine Months Ended September 30, 2023
(in millions of U.S. dollars) | Term Life |  | Universal Life |  | Whole Life |  | A&H |  | Other |  | Total
Balance – beginning of period | $ | 320 |  |  | $ | 776 |  |  | $ | 395 |  |  | $ | 902 |  |  | $ | 121 |  |  | $ | 2,514 |
Capitalizations | 118 |  |  | 85 |  |  | 102 |  |  | 392 |  |  | 25 |  |  | 722 |
Amortization expense | (74) |  |  | (57) |  |  | (16) |  |  | (100) |  |  | (15) |  |  | (262) |
Other (including foreign exchange) | 8 |  |  | (20) |  |  | 7 |  |  | (13) |  |  | (4) |  |  | (22) |
Balance - end of period | $ | 372 |  |  | $ | 784 |  |  | $ | 488 |  |  | $ | 1,181 |  |  | $ | 127 |  |  | $ | 2,952 |
Overseas General Insurance segment excluded from table |  |  |  |  |  |  |  |  |  |  | 621 |
Total deferred acquisition costs on long-duration contracts |  |  |  |  |  |  |  |  |  |  | $ | 3,573 |
| Nine Months Ended September 30, 2022
(in millions of U.S. dollars) | Term Life |  | Universal Life |  | Whole Life |  | A&H |  | Other |  | Total
Balance – beginning of period | $ | 246 |  |  | $ | 771 |  |  | $ | 334 |  |  | $ | 745 |  |  | $ | 108 |  |  | $ | 2,204 |
Capitalizations | 111 |  |  | 95 |  |  | 46 |  |  | 166 |  |  | 39 |  |  | 457 |
Amortization expense | (56) |  |  | (55) |  |  | (14) |  |  | (72) |  |  | (16) |  |  | (213) |
Other (including foreign exchange) | (2) |  |  | (50) |  |  | (16) |  |  | (20) |  |  | (14) |  |  | (102) |
Balance - end of period | $ | 299 |  |  | $ | 761 |  |  | $ | 350 |  |  | $ | 819 |  |  | $ | 117 |  |  | $ | 2,346 |
Overseas General Insurance segment excluded from table |  |  |  |  |  |  |  |  |  |  | 633 |
Total deferred acquisition costs on long-duration contracts |  |  |  |  |  |  |  |  |  |  | $ | 2,979 |

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- Definition The entire disclosure for deferred policy acquisition costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//944-30/tableOfContent + Details
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