Deferred Policy Acquisition Costs and Value of Business Acquired (Tables)

3 Months Ended

Mar. 31, 2025

Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]

Deferred Policy Acquisition Costs and Value of Business Acquired

The following table presents a rollforward of DAC and VOBA for the periods indicated:



	DAC						VOBA(2)
	Wealth Solutions Deferred and Individual Annuities		Health Solutions Voluntary		Businesses Exited
Balance as of January 1, 2024	$	695	$	193	$	938	$	406
Deferrals of commissions and expenses	60		58		—		3
Amortization expense	(54)		(36)		(100)		(33)
Balance as of December 31, 2024	$	701	$	215	$	838	$	376
Additions related to business acquisitions(1)	—		—		—		390
Deferrals of commissions and expenses	14		13		—		1
Amortization expense	(13)		(9)		(24)		(15)
Balance as of March 31, 2025	$	702	$	219	$	814	$	752

(1) As a result of the acquisition of OneAmerica Financial's full-service retirement plan business, the estimated VOBA amortization is expected to increase by $21 to $29 annually for years 2025 through 2029.

(2) Primarily related to the Wealth Solutions segment.

The following table shows a reconciliation of DAC and VOBA balances to the Condensed Consolidated Balance Sheets as of the periods indicated:


	March 31, 2025		December 31, 2024
DAC:
Wealth Solutions Deferred and Individual Annuities	$	702	$	701
Health Solutions Voluntary	219		215
Businesses Exited	814		838
Other	18		18
VOBA	752		376
Total	$	2,505	$	2,148