Life And Annuity Benefits (Tables)

12 Months Ended

Dec. 31, 2023

The following table presents the components of the Company's liabilities for life and annuity benefits.


	December 31,
(dollars in thousands)	2023		2022
Liability for future policyholder benefits (1)	$	557,763	$	554,366
Deferred profit liability	52,287		48,569
Other	39,004		47,786
Total	$	649,054	$	650,721

(1) The undiscounted liability for future policyholder benefits was $824.6 million and $861.3 million as of December 31, 2023 and 2022, respectively.

The following table presents a rollforward of the present value of the liability for future policyholder benefits.


	Years Ended December 31,
(dollars in thousands)	2023		2022		2021
Liability for future policyholder benefits, beginning of year	$	554,366	$	821,632	$	976,905
Liability for future policyholder benefits at original discount rate, beginning of year	667,761		745,313		838,041
Effect of changes in cash flow assumptions	—		—		—
Effect of actual variances from expected experience	(5,890)		(3,859)		(4,208)
Adjusted liability for future policyholder benefits, beginning of year	661,871		741,454		833,833
Interest accretion	14,889		15,625		17,992
Benefit payments	(52,588)		(53,232)		(60,277)
Effect of foreign currency rate changes	18,705		(36,086)		(46,235)
Liability for future policyholder benefits at original discount rate, end of year	642,877		667,761		745,313
Cumulative effect of changes in discount rate assumptions	(85,114)		(113,395)		76,319
Liability for future policyholder benefits, end of year	$	557,763	$	554,366	$	821,632

The following table summarizes additional details for the Company's liability for future policyholder benefits.


	December 31,
	2023		2022
Weighted-average interest rate:
Interest accretion rate	2.3	%	2.3	%
Current discount rate	3.8	%	4.3	%
Weighted-average liability duration	8.6 years		8.6 years