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v3.19.3.a.u2

DAC, VOBA, DSI and DFEL | 12 Months Ended
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Dec. 31, 2019
DAC, VOBA, DSI and DFEL [Abstract] |
DAC, VOBA, DSI and DFEL | 8. DAC, VOBA, DSI and DFEL Changes in DAC (in millions) were as follows:
| For the Years Ended December 31, |
| 2019 |  | 2018 |  | 2017 |
Balance as of beginning-of-year | $ | 9,448 |  | $ | 7,887 |  | $ | 8,243 |
Business acquired (sold) through reinsurance |  | - |  |  | (246 | ) |  | - |
Deferrals |  | 1,902 |  |  | 1,600 |  |  | 1,348 |
Amortization, net of interest: |  |  |  |  |  |  |  |  |
Amortization, excluding unlocking, net of interest |  | (950 | ) |  | (951 | ) |  | (965 | )
Unlocking |  | (489 | ) |  | (115 | ) |  | 61 |
Adjustment related to realized (gains) losses |  | 54 |  |  | (47 | ) |  | (12 | )
Adjustment related to unrealized (gains) losses |  | (2,613 | ) |  | 1,320 |  |  | (788 | )
Balance as of end-of-year | $ | 7,352 |  | $ | 9,448 |  | $ | 7,887 |
Changes in VOBA (in millions) were as follows:
| For the Years Ended December 31, |
| 2019 |  | 2018 |  | 2017 |
Balance as of beginning-of-year | $ | 816 |  | $ | 516 |  | $ | 891 |
Business acquired (sold) through reinsurance |  | - |  |  | (11 | ) |  | - |
Business acquired |  | - |  |  | 30 |  |  | - |
Deferrals |  | 6 |  |  | 7 |  |  | 7 |
Amortization: |  |  |  |  |  |  |  |  |
Amortization, excluding unlocking |  | (114 | ) |  | (127 | ) |  | (105 | )
Unlocking |  | 140 |  |  | (60 | ) |  | (48 | )
Accretion of interest (1) |  | 45 |  |  | 48 |  |  | 52 |
Adjustment related to realized (gains) losses |  | (1 | ) |  | (2 | ) |  | (1 | )
Adjustment related to unrealized (gains) losses |  | (550 | ) |  | 415 |  |  | (280 | )
Balance as of end-of-year | $ | 342 |  | $ | 816 |  | $ | 516 |
(1)The interest accrual rates utilized to calculate the accretion of interest ranged from 4.2% to 6.9%. Estimated future amortization of VOBA, net of interest (in millions), as of December 31, 2019, was as follows:
2020 | $ | 72 |
2021 |  | 66 |
2022 |  | 67 |
2023 |  | 65 |
2024 |  | 61 |
Changes in DSI (in millions) were as follows:
| For the Years Ended December 31, |
| 2019 |  | 2018 |  | 2017 |
Balance as of beginning-of-year | $ | 248 |  | $ | 238 |  | $ | 243 |
Business acquired (sold) through reinsurance |  | - |  |  | (21 | ) |  | - |
Deferrals |  | 26 |  |  | 47 |  |  | 29 |
Amortization, net of interest: |  |  |  |  |  |  |  |  |
Amortization, excluding unlocking, net of interest |  | (29 | ) |  | (28 | ) |  | (30 | )
Unlocking |  | (3 | ) |  | - |  |  | (4 | )
Adjustment related to realized (gains) losses |  | 2 |  |  | (1 | ) |  | (1 | )
Adjustment related to unrealized (gains) losses |  | (10 | ) |  | 13 |  |  | 1 |
Balance as of end-of-year | $ | 234 |  | $ | 248 |  | $ | 238 |
Changes in DFEL (in millions) were as follows:
| For the Years Ended December 31, |
| 2019 |  | 2018 |  | 2017 |
Balance as of beginning-of-year | $ | 2,769 |  | $ | 1,445 |  | $ | 1,874 |
Deferrals |  | 1,095 |  |  | 875 |  |  | 755 |
Amortization, net of interest: |  |  |  |  |  |  |  |  |
Amortization, excluding unlocking, net of interest |  | (544 | ) |  | (482 | ) |  | (396 | )
Unlocking |  | (426 | ) |  | (53 | ) |  | 1 |
Adjustment related to realized (gains) losses |  | - |  |  | (20 | ) |  | (14 | )
Adjustment related to unrealized (gains) losses |  | (2,244 | ) |  | 1,004 |  |  | (775 | )
Balance as of end-of-year | $ | 650 |  | $ | 2,769 |  | $ | 1,445 |

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- Definition This element may be used to encapsulate the entire disclosure, including data and tables, pertaining to the nature and amount of capitalized costs incurred to write or acquire insurance contracts or the purchase of a life insurance company, amounts such as interest credited and bonuses given to motivate purchases of insurance products, and front-end charges that are deferred and amortized into income over the life of insurance contracts. + References No definition available. + Details
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- References No definition available. + Details
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