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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 adjustments1,183,306 
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 AnnuitiesFixed Rate AnnuitiesSingle Premium Immediate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,649,322 $120,105 $4,216 $2,773,643 
Capitalizations189,581 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 AnnuitiesFixed Rate AnnuitiesSingle Premium Immediate AnnuitiesTotal
(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)
Capitalizations193,989 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 adjustments768,310 
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 AnnuitiesFixed Rate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,017,960 $27,723 $2,045,683 
Capitalizations182,123 — 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 AnnuitiesFixed Rate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,088,591 $31,370 $2,119,961 
Capitalizations107,684 8 107,692 
Amortization expense(178,315)(3,655)(181,970)
Balance, end of period$2,017,960 $27,723 $2,045,683