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DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS

9 Months Ended

Sep. 30, 2024

Deferred Charges, Insurers [Abstract]

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS

Changes in deferred acquisition costs were as follows (dollars in millions):

						Nine months ended
						September 30, 2024
						Fixed indexed annuities						Fixed interest annuities						Supplemental health						Medicare supplement						Long-term care						Interest-sensitive life						Traditional life						Funding agreements						Total
Beginning of period						$	407.6					$	27.0					$	408.0					$	157.5					$	140.3					$	234.5					$	471.9					$	4.5					$	1,851.3
Capitalizations						72.7						9.4						47.2						19.3						16.2						28.0						88.1						5.5						286.4
Amortization expense						(41.7)						(3.6)						(25.7)						(19.9)						(11.0)						(11.6)						(44.3)						(1.5)						(159.3)
End of period						$	438.6					$	32.8					$	429.5					$	156.9					$	145.5					$	250.9					$	515.7					$	8.5					$	1,978.4

						Nine months ended
						September 30, 2023
						Fixed indexed annuities						Fixed interest annuities						Supplemental health						Medicare supplement						Long-term care						Interest-sensitive life						Traditional life						Funding agreements						Total
Beginning of period						$	365.6					$	19.6					$	378.8					$	161.2					$	137.9					$	212.2					$	409.1					$	6.0					$	1,690.4
Capitalizations						65.5						8.0						43.8						17.7						11.3						27.5						86.9						—						260.7
Amortization expense						(34.1)						(2.8)						(23.2)						(21.0)						(11.5)						(10.7)						(37.9)						(1.2)						(142.4)
End of period						$	397.0					$	24.8					$	399.4					$	157.9					$	137.7					$	229.0					$	458.1					$	4.8					$	1,808.7

Changes in the present value of future profits were as follows (dollars in millions):

						Nine months ended
						September 30, 2024
						Supplemental health						Medicare supplement						Long-term care						Traditional life						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	141.0					$	20.6					$	5.2					$	12.9					$	.7					$	.3					$	180.7
Amortization expense						(9.3)						(3.8)						(.6)						(1.2)						(.1)						—						(15.0)
End of period						$	131.7					$	16.8					$	4.6					$	11.7					$	.6					$	.3					$	165.7

						Nine months ended
						September 30, 2023
						Supplemental health						Medicare supplement						Long-term care						Traditional life						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	154.0					$	27.5					$	6.2					$	14.8					$	.8					$	.4					$	203.7
Amortization expense						(9.8)						(5.3)						(.8)						(1.4)						(.1)						(.1)						(17.5)
End of period						$	144.2					$	22.2					$	5.4					$	13.4					$	.7					$	.3					$	186.2

Changes in sales inducements were as follows (dollars in millions):

						Nine months ended
						September 30, 2024
						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	88.5					$	4.6					$	93.1
Capitalizations						40.1						.9						41.0
Amortization expense						(10.9)						(.7)						(11.6)
End of period						$	117.7					$	4.8					$	122.5

						Nine months ended
						September 30, 2023
						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	76.0					$	4.5					$	80.5
Capitalizations						16.3						.6						16.9
Amortization expense						(8.0)						(.6)						(8.6)
End of period						$	84.3					$	4.5					$	88.8

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- References

No definition available.

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X

- Definition

The entire disclosure for cost related directly to successful acquisition of new and renewal of insurance contract. Includes, but is not limited to, deferred policy acquisition cost, deferred sale inducement cost, and present value of future profit of insurance contract acquired in business combination.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479735/944-20-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479432/944-30-50-2A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/944-30/tableOfContent

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