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Life and Annuity Benefits | 6 Months Ended
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Jun. 30, 2023
Liability for Future Policy Benefit, before Reinsurance [Abstract] |
Life and Annuity Benefits | Life and Annuity Benefits The Company's run-off block of life and annuity reinsurance contracts consists primarily of Euro and U.S. Dollar denominated life-contingent payout annuities and traditional and universal life contracts. The following table presents the components of the Company's liabilities for life and annuity benefits.
(dollars in thousands) | June 30, 2023 |  | December 31, 2022
Liability for future policyholder benefits | $ | 549,601 |  |  | $ | 554,366 |
Deferred profit liability | 47,122 |  |  | 48,569 |
Other | 46,849 |  |  | 47,786 |
Total | $ | 643,572 |  |  | $ | 650,721 |
The primary component of the Company's liabilities for life and annuity benefits is the liability for future policyholder benefits. Life and annuity benefit reserves are calculated for aggregated cohorts of contracts, which are determined based on the attributes of the underlying contracts, and are discounted using standard actuarial techniques and cash flow models. Since the development of the life and annuity reinsurance reserves is based upon cash flow projection models, the Company makes estimates and assumptions based on cedent experience and industry mortality tables. The cash flow assumptions used to determine the Company's life and annuity benefit reserves are updated at least annually. The discount rate assumptions are updated at each reporting date. The following table presents a rollforward of the present value of the liability for future policyholder benefits.
| Six Months Ended June 30,
(dollars in thousands) | 2023 |  | 2022
Liability for future policyholder benefits, beginning of year | $ | 554,366 |  |  | $ | 821,632 |
Liability for future policyholder benefits at original discount rate, beginning of year | 667,761 |  |  | 745,313 |
Effect of changes in cash flow assumptions | — |  |  | — |
Effect of actual variances from expected experience | — |  |  | — |
Adjusted liability for future policyholder benefits, beginning of year | 667,761 |  |  | 745,313 |
Interest accretion | 7,594 |  |  | 8,178 |
Benefit payments | (26,661) |  |  | (27,801) |
Effect of foreign currency rate changes | 6,926 |  |  | (48,509) |
Liability for future policyholder benefits at original discount rate, end of period | 655,620 |  |  | 677,181 |
Cumulative effect of changes in discount rate assumptions | (106,019) |  |  | (80,505) |
Liability for future policyholder benefits, end of period (1) | $ | 549,601 |  |  | $ | 596,676 |
(1) The undiscounted liability for future policyholder benefits was $843.3 million and $874.2 million as of June 30, 2023 and 2022, respectively. The following table summarizes additional details for the Company's liability for future policyholder benefits.
| June 30, 2023 |  | December 31, 2022
Weighted-average interest rate: |  |  |
Interest accretion rate | 2.3 | % |  | 2.3 | %
Current discount rate | 4.2 | % |  | 4.3 | %
Weighted-average liability duration | 8.7 years |  | 8.6 years

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- Definition The entire disclosure for liabilities related to life and annuity benefits and unpaid claims and claim adjustments. + References No definition available. + Details
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- References No definition available. + Details
Name: | us-gaap_LiabilityForFuturePolicyBenefitsAbstract
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