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Deferred Policy Acquisition Costs

9 Months Ended

Sep. 30, 2025

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs

(8) Deferred Policy Acquisition Costs

The balances and activity in DAC were as follows:

		Nine months ended								Year ended
		September 30, 2025								December 31, 2024
		(In thousands)
		Term Life Insurance				Segregated Funds (Canada)				Term Life Insurance				Segregated Funds (Canada)
DAC balance, beginning of period		$	3,608,599			$	55,303			$	3,366,281			$	63,029
Capitalization			411,128				1,878				555,162				2,959
Amortization			(235,184	)			(4,060	)			(291,488	)			(5,443	)
Foreign exchange translation and other			8,245				1,852				(21,356	)			(5,242	)
DAC balance, at the end of period		$	3,792,788			$	54,973			$	3,608,599			$	55,303

Reconciliation of DAC by product was as follows:

		September 30, 2025				December 31, 2024
		(In thousands)
Term Life Insurance		$	3,792,788			$	3,608,599
Segregated Funds (Canada)			54,973				55,303
Other			15,681				16,528
Total DAC, net		$	3,863,442			$	3,680,430

There were no material changes to the judgments, assumptions and methods used to amortize DAC during the nine months ended September 30, 2025 and 2024.

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- References

No definition available.

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- Definition

The entire disclosure for deferred policy acquisition costs.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Name Accounting Standards Codification
-SubTopic 30
-Topic 944
-Publisher FASB
-URI https://asc.fasb.org/944-30/tableOfContent

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