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Deferred Policy Acquisition Costs (Tables) | 12 Months Ended
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Dec. 31, 2023
Deferred Costs [Abstract] |
Deferred Policy Acquisition Costs And Asset Reconciliation, Including the Amortized Deferred Policy Acquisition Costs | The table below shows the deferred policy acquisition costs and asset reconciliation:
(Dollars in millions) |  | Years ended December 31,
|  | 2023 |  | 2022 |  | 2021
Property casualty: |  |  |  |  |  |
Deferred policy acquisition costs asset, January 1 |  | $ | 682 |  |  | $ | 602 |  |  | $ | 542 |
Capitalized deferred policy acquisition costs |  | 1,488 |  |  | 1,383 |  |  | 1,211 |
Amortized deferred policy acquisition costs |  | (1,421) |  |  | (1,303) |  |  | (1,151) |
Deferred policy acquisition costs asset, December 31 |  | $ | 749 |  |  | $ | 682 |  |  | $ | 602 |
Life: |  |  |  |  |  |
Deferred policy acquisition costs asset, January 1 |  | $ | 331 |  |  | $ | 314 |  |  | $ | 296 |
Capitalized deferred policy acquisition costs |  | 42 |  |  | 44 |  |  | 43 |
Amortized deferred policy acquisition costs |  | (29) |  |  | (27) |  |  | (25) |
Deferred policy acquisition costs asset, December 31 |  | $ | 344 |  |  | $ | 331 |  |  | $ | 314 |
Consolidated: |  |  |  |  |  |
Deferred policy acquisition costs asset, January 1 |  | $ | 1,013 |  |  | $ | 916 |  |  | $ | 838 |
Capitalized deferred policy acquisition costs |  | 1,530 |  |  | 1,427 |  |  | 1,254 |
Amortized deferred policy acquisition costs |  | (1,450) |  |  | (1,330) |  |  | (1,176) |
Deferred policy acquisition costs asset, December 31 |  | $ | 1,093 |  |  | $ | 1,013 |  |  | $ | 916 |
Life Deferred Policy Acquisition Costs by Product | The table below shows the life deferred policy acquisition costs asset by product:
(Dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2023 |  | Term |  | Whole life |  | Deferred annuity |  | Universal life |  |  |  | Total
Balance, beginning of period |  | $ | 228 |  |  | $ | 43 |  |  | $ | 7 |  |  | $ | 53 |  |  |  |  | $ | 331 |
Capitalized deferred policy acquisition costs |  | 30 |  |  | 8 |  |  | 2 |  |  | 2 |  |  |  |  | 42 |
Amortized deferred policy acquisition costs |  | (22) |  |  | (3) |  |  | (1) |  |  | (3) |  |  |  |  | (29) |
Balance, end of period |  | $ | 236 |  |  | $ | 48 |  |  | $ | 8 |  |  | $ | 52 |  |  |  |  | $ | 344 |
Year ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 215 |  |  | $ | 38 |  |  | $ | 7 |  |  | $ | 54 |  |  |  |  | $ | 314 |
Capitalized deferred policy acquisition costs |  | 34 |  |  | 7 |  |  | 1 |  |  | 2 |  |  |  |  | 44 |
Amortized deferred policy acquisition costs |  | (21) |  |  | (2) |  |  | (1) |  |  | (3) |  |  |  |  | (27) |
Balance, end of period |  | $ | 228 |  |  | $ | 43 |  |  | $ | 7 |  |  | $ | 53 |  |  |  |  | $ | 331 |
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 201 |  |  | $ | 35 |  |  | $ | 6 |  |  | $ | 54 |  |  |  |  | $ | 296 |
Capitalized deferred policy acquisition costs |  | 35 |  |  | 5 |  |  | 1 |  |  | 2 |  |  |  |  | 43 |
Amortized deferred policy acquisition costs |  | (21) |  |  | (2) |  |  | — |  |  | (2) |  |  |  |  | (25) |
Balance, end of period |  | $ | 215 |  |  | $ | 38 |  |  | $ | 7 |  |  | $ | 54 |  |  |  |  | $ | 314 |

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