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Deferred Acquisition Costs and Deferred Sales Inducement Costs

12 Months Ended

Dec. 31, 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 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			24						98						—						—						—						64
Amortization			(118)						(30)						(7)						(1)						(7)						(45)
Balance at December 31, 2024			$	1,402					$	276					$	28					$	4					$	103					$	553

			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			3						—						5						2						3						199
Amortization			(16)						—						(1)						(2)						(8)						(235)
Balance at December 31, 2024			$	210					$	2					$	10					$	17					$	70					$	2,675
Other broker dealer acquisition costs																																	2
Balance at December 31, 2024 including broker dealer acquisition costs																																	$	2,677


			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 DSIC:


			Variable Annuities						Fixed Annuities												Total, All Products
			(in millions)
Balance at January 1, 2024			$	136					$	12											$	148

Amortization			(14)						(2)												(16)
Balance at December 31, 2024			$	122					$	10											$	132


			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