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Deferred Acquisition Costs and Deferred Sales Inducement Costs (Tables) | 3 Months Ended
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Mar. 31, 2025
Deferred Charges, Insurers [Abstract] |
Schedule of balances of and changes in DAC | 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, 2025 | $ | 1,402 |  |  | $ | 276 |  |  | $ | 28 |  |  | $ | 4 |  |  | $ | 103 |  |  | $ | 553 |
Capitalization of acquisition costs | 6 |  |  | 19 |  |  | — |  |  | — |  |  | — |  |  | 15 |
Amortization | (28) |  |  | (9) |  |  | (2) |  |  | — |  |  | (2) |  |  | (11) |
Balance at March 31, 2025 | $ | 1,380 |  |  | $ | 286 |  |  | $ | 26 |  |  | $ | 4 |  |  | $ | 101 |  |  | $ | 557 |
| 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, 2025 | $ | 210 |  |  | $ | 2 |  |  | $ | 10 |  |  | $ | 17 |  |  | $ | 70 |  |  | $ | 2,675 |
Capitalization of acquisition costs | 1 |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 43 |
Amortization | (4) |  |  | — |  |  | — |  |  | (1) |  |  | (2) |  |  | (59) |
Balance at March 31, 2025 | $ | 207 |  |  | $ | 2 |  |  | $ | 11 |  |  | $ | 17 |  |  | $ | 68 |  |  | 2,659 |
Other broker dealer acquisition costs |  |  |  |  |  |  |  |  |  |  | 2 |
Balance at March 31, 2025 including broker dealer acquisition costs |  |  |  |  |  | $ | 2,661 |
| 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 |
Schedule of balances of and changes in DSIC | 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, 2025 | $ | 122 |  |  | $ | 10 |  |  |  |  | $ | 132 |
Amortization | (3) |  |  | (1) |  |  |  |  | (4) |
Balance at March 31, 2025 | $ | 119 |  |  | $ | 9 |  |  |  |  | $ | 128 |
| 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 |

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