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Deferred acquisition costs | 6 Months Ended
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Jun. 30, 2025
Deferred Policy Acquisition Costs Disclosures [Abstract] |
Deferred Policy Acquisition Costs | Deferred policy acquisition costs The following tables present a roll-forward of deferred policy acquisition costs on long-duration contracts included in the Life Insurance segment:
| Six Months Ended June 30, 2025
(in millions of U.S. dollars) | Term Life |  | Universal Life |  | Whole Life |  | A&H |  | Other |  | Total
Balance – beginning of period | $ | 469 |  |  | $ | 722 |  |  | $ | 870 |  |  | $ | 1,681 |  |  | $ | 324 |  |  | $ | 4,066 |
Capitalizations | 115 |  |  | 69 |  |  | 224 |  |  | 327 |  |  | 61 |  |  | 796 |
Amortization expense | (73) |  |  | (41) |  |  | (25) |  |  | (111) |  |  | (15) |  |  | (265) |
Other (including foreign exchange) | 13 |  |  | 10 |  |  | 23 |  |  | 51 |  |  | 12 |  |  | 109 |
Balance – end of period | $ | 524 |  |  | $ | 760 |  |  | $ | 1,092 |  |  | $ | 1,948 |  |  | $ | 382 |  |  | $ | 4,706 |
Overseas General Insurance segment excluded from table |  |  |  |  |  |  |  |  |  |  | 646 |
Total deferred policy acquisition costs on long-duration contracts |  |  |  |  |  |  |  |  |  |  | $ | 5,352 |
Deferred policy acquisition costs on short-duration contracts |  |  |  |  |  |  |  |  |  |  | 4,085 |
Total deferred policy acquisition costs |  |  |  |  |  |  |  |  |  |  | $ | 9,437 |
| Six Months Ended June 30, 2024
(in millions of U.S. dollars) | Term Life |  | Universal Life |  | Whole Life |  | A&H |  | Other |  | Total
Balance – beginning of period | $ | 402 |  |  | $ | 674 |  |  | $ | 534 |  |  | $ | 1,301 |  |  | $ | 274 |  |  | $ | 3,185 |
Capitalizations | 98 |  |  | 70 |  |  | 170 |  |  | 311 |  |  | 36 |  |  | 685 |
Amortization expense | (58) |  |  | (39) |  |  | (17) |  |  | (86) |  |  | (14) |  |  | (214) |
Other (including foreign exchange) | (6) |  |  | (25) |  |  | (14) |  |  | (30) |  |  | (7) |  |  | (82) |
Balance – end of period | $ | 436 |  |  | $ | 680 |  |  | $ | 673 |  |  | $ | 1,496 |  |  | $ | 289 |  |  | $ | 3,574 |
Overseas General Insurance segment excluded from table |  |  |  |  |  |  |  |  |  |  | 592 |
Total deferred policy acquisition costs on long-duration contracts |  |  |  |  |  |  |  |  |  |  | $ | 4,166 |
Deferred policy acquisition costs on short-duration contracts |  |  |  |  |  |  |  |  |  |  | 3,646 |
Total deferred policy acquisition costs |  |  |  |  |  |  |  |  |  |  | $ | 7,812 |

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