XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.23.2

Deferred Policy Acquisition Costs and Deferred Sales Inducements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Deferred Charges, Insurers [Abstract] |
Deferred Policy Acquisition Costs |
| Deferred Policy Acquisition Costs
| Fixed Index Annuities and Fixed Rate Annuities
| (Dollars in thousands)
Pre-adoption 1/1/2021 balance | $ | 2,225,199 |
Adjustments for the removal of shadow adjustments | 1,183,306 |
Post adoption 1/1/2021 balance | $ | 3,408,505 |
The following tables present the balances and changes in deferred policy acquisition costs:
| Six Months Ended June 30, 2023
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Single Premium Immediate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of period | $ | 2,649,322 |  |  | $ | 120,105 |  |  | $ | 4,216 |  |  | $ | 2,773,643 |
Capitalizations | 189,581 |  |  | 16,079 |  |  | 23 |  |  | 205,683 |
Amortization expense | (121,769) |  |  | (14,600) |  |  | (342) |  |  | (136,711) |
Balance, end of period | $ | 2,717,134 |  |  | $ | 121,584 |  |  | $ | 3,897 |  |  | $ | 2,842,615 |
| Year Ended December 31, 2022
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Single Premium Immediate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of period | $ | 2,906,684 |  |  | $ | 151,322 |  |  | $ | 4,198 |  |  | $ | 3,062,204 |
Write-off related to in-force ceded reinsurance | (196,417) |  |  | (7,209) |  |  | — |  |  | (203,626) |
Capitalizations | 193,989 |  |  | 4,424 |  |  | 663 |  |  | 199,076 |
Amortization expense | (254,934) |  |  | (28,432) |  |  | (645) |  |  | (284,011) |
Balance, end of period | $ | 2,649,322 |  |  | $ | 120,105 |  |  | $ | 4,216 |  |  | $ | 2,773,643 |
Deferred Sale Inducements |
| Deferred Sales Inducements
| Fixed Index Annuities and Fixed Rate Annuities
| (Dollars in thousands)
Pre-adoption 1/1/2021 balance | $ | 1,448,375 |
Adjustments for the removal of shadow adjustments | 768,310 |
Post adoption 1/1/2021 balance | $ | 2,216,685 |
The following tables present the balances and changes in deferred sales inducements:
| Six Months Ended June 30, 2023
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of period | $ | 2,017,960 |  |  | $ | 27,723 |  |  | $ | 2,045,683 |
Capitalizations | 182,123 |  |  | — |  |  | 182,123 |
Amortization expense | (91,964) |  |  | (1,588) |  |  | (93,552) |
Balance, end of period | $ | 2,108,119 |  |  | $ | 26,135 |  |  | $ | 2,134,254 |
| Year Ended December 31, 2022
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of period | $ | 2,088,591 |  |  | $ | 31,370 |  |  | $ | 2,119,961 |
Capitalizations | 107,684 |  |  | 8 |  |  | 107,692 |
Amortization expense | (178,315) |  |  | (3,655) |  |  | (181,970) |
Balance, end of period | $ | 2,017,960 |  |  | $ | 27,723 |  |  | $ | 2,045,683 |

X
- References No definition available. + Details
Name: | us-gaap_DeferredChargesInsurersAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the movement in deferred policy acquisition costs. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480016/944-40-65-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479432/944-30-50-2B Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479432/944-30-50-2B Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479401/944-30-55-2 + Details
Name: | us-gaap_DeferredPolicyAcquisitionCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of deferred sale inducement cost. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479432/944-30-50-2B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479432/944-30-50-2B + Details
Name: | us-gaap_DeferredSalesInducementsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration