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Deferred Acquisition Costs and Deferred Sales Inducement Costs

9 Months Ended

Sep. 30, 2024

Deferred Charges, Insurers [Abstract]

Deferred Acquisition Costs and Deferred Sales Inducement Costs

Deferred Acquisition Costs and Deferred Sales Inducement Costs

The following tables summarize the balances of and changes in deferred acquisition costs (“DAC”):

			Variable Annuities						Structured Variable Annuities						Fixed Annuities						Fixed Indexed Annuities						Universal Life Insurance						Variable Universal Life Insurance
			(in millions)
Balance at January 1, 2024			$	1,496					$	208					$	35					$	5					$	110					$	534
Capitalization of acquisition costs			17						75						—						—						—						48
Amortization			(89)						(22)						(5)						—						(6)						(34)
Balance at September 30, 2024			$	1,424					$	261					$	30					$	5					$	104					$	548
			Indexed Universal Life Insurance						Other Life Insurance						Life Contingent Payout Annuities						Term and Whole Life Insurance						Disability Income Insurance						Total, All Products
			(in millions)
Balance at January 1, 2024			$	223					$	2					$	6					$	17					$	75					$	2,711
Capitalization of acquisition costs			2						—						3						1						3						149
Amortization			(12)						—						—						(1)						(7)						(176)
Balance at September 30, 2024			$	213					$	2					$	9					$	17					$	71					$	2,684
Other broker dealer acquisition costs																																	2
Balance at September 30, 2024 including broker dealer acquisition costs																																	$	2,686

			Variable Annuities						Structured Variable Annuities						Fixed Annuities						Fixed Indexed Annuities						Universal Life Insurance						Variable Universal Life Insurance
			(in millions)
Balance at January 1, 2023			$	1,598					$	149					$	45					$	6					$	118					$	521
Capitalization of acquisition costs			23						83						—						—						—						57
Amortization			(125)						(24)						(10)						(1)						(8)						(44)
Balance at December 31, 2023			$	1,496					$	208					$	35					$	5					$	110					$	534
			Indexed Universal Life Insurance						Other Life Insurance						Life Contingent Payout Annuities						Term and Whole Life Insurance						Disability Income Insurance						Total, All Products
			(in millions)
Balance at January 1, 2023			$	236					$	3					$	2					$	18					$	79					$	2,775
Capitalization of acquisition costs			4						—						4						1						4						176
Amortization			(17)						(1)						—						(2)						(8)						(240)
Balance at December 31, 2023			$	223					$	2					$	6					$	17					$	75					$	2,711
Other broker dealer acquisition costs																																	2
Balance at December 31, 2023 including broker dealer acquisition costs																																	$	2,713

The following tables summarize the balances of and changes in deferred sales inducement costs (“DSIC”):

			Variable Annuities						Fixed Annuities												Total, All Products
			(in millions)
Balance at January 1, 2024			$	136					$	12											$	148
Amortization			(10)						(2)												(12)
Balance at September 30, 2024			$	126					$	10											$	136

			Variable Annuities						Fixed Annuities												Total, All Products
			(in millions)
Balance at January 1, 2023			$	151					$	16											$	167
Amortization			(15)						(4)												(19)
Balance at December 31, 2023			$	136					$	12											$	148

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- References

No definition available.

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- Definition

The entire disclosure for cost related directly to successful acquisition of new and renewal of insurance contract. Includes, but is not limited to, deferred policy acquisition cost, deferred sale inducement cost, and present value of future profit of insurance contract acquired in business combination.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479735/944-20-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479432/944-30-50-2A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/944-30/tableOfContent

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