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Deferred acquisition costs | 12 Months Ended
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Dec. 31, 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 $3,346 million, $2,877 million, and $2,718 million; and long-duration contracts of $3,806 million, $3,154 million, and $2,970 million at December 31, 2023, 2022, and 2021, respectively. The following tables present a roll-forward of deferred acquisitions costs on long-duration contracts included in the Life Insurance segment:
| Year Ended December 31, 2023
(in millions of U.S. dollars) | Term Life |  | Universal Life |  | Whole Life |  | A&H |  | Other |  | Total
Balance – beginning of period | $ | 324 |  |  | $ | 639 |  |  | $ | 392 |  |  | $ | 891 |  |  | $ | 268 |  |  | $ | 2,514 |
Capitalizations | 176 |  |  | 129 |  |  | 159 |  |  | 564 |  |  | 36 |  |  | 1,064 |
Amortization expense | (100) |  |  | (80) |  |  | (23) |  |  | (137) |  |  | (29) |  |  | (369) |
Other (including foreign exchange) | 2 |  |  | (14) |  |  | 6 |  |  | (17) |  |  | (1) |  |  | (24) |
Balance – end of period | $ | 402 |  |  | $ | 674 |  |  | $ | 534 |  |  | $ | 1,301 |  |  | $ | 274 |  |  | $ | 3,185 |
Overseas General Insurance segment excluded from table |  |  |  |  |  |  |  |  |  |  | 621 |
Total deferred acquisition costs on long-duration contracts |  |  |  |  |  |  |  |  |  |  | $ | 3,806 |
| Year Ended December 31, 2022
(in millions of U.S. dollars) | Term Life |  | Universal Life |  | Whole Life |  | A&H |  | Other |  | Total
Balance – beginning of period | $ | 250 |  |  | $ | 631 |  |  | $ | 330 |  |  | $ | 730 |  |  | $ | 263 |  |  | $ | 2,204 |
Capitalizations | 147 |  |  | 118 |  |  | 86 |  |  | 268 |  |  | 48 |  |  | 667 |
Amortization expense | (81) |  |  | (64) |  |  | (18) |  |  | (93) |  |  | (31) |  |  | (287) |
Other (including foreign exchange) | 8 |  |  | (46) |  |  | (6) |  |  | (14) |  |  | (12) |  |  | (70) |
Balance – end of period | $ | 324 |  |  | $ | 639 |  |  | $ | 392 |  |  | $ | 891 |  |  | $ | 268 |  |  | $ | 2,514 |
Overseas General Insurance segment excluded from table |  |  |  |  |  |  |  |  |  |  | 640 |
Total deferred acquisition costs on long-duration contracts |  |  |  |  |  |  |  |  |  |  | $ | 3,154 |
| Year Ended December 31, 2021
(in millions of U.S. dollars) | Term Life |  | Universal Life |  | Whole Life |  | A&H |  | Other |  | Total
Balance – beginning of period | $ | 125 |  |  | $ | 557 |  |  | $ | 299 |  |  | $ | 733 |  |  | $ | 220 |  |  | $ | 1,934 |
Capitalizations | 178 |  |  | 143 |  |  | 52 |  |  | 98 |  |  | 71 |  |  | 542 |
Amortization expense | (47) |  |  | (61) |  |  | (18) |  |  | (98) |  |  | (26) |  |  | (250) |
Other (including foreign exchange) | (6) |  |  | (8) |  |  | (3) |  |  | (3) |  |  | (2) |  |  | (22) |
Balance – end of period | $ | 250 |  |  | $ | 631 |  |  | $ | 330 |  |  | $ | 730 |  |  | $ | 263 |  |  | $ | 2,204 |
Overseas General Insurance segment excluded from table |  |  |  |  |  |  |  |  |  |  | 766 |
Total deferred acquisition costs on long-duration contracts |  |  |  |  |  |  |  |  |  |  | $ | 2,970 |

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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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