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Deferred Policy Acquisition Costs and Deferred Sales Inducements

9 Months Ended

Sep. 30, 2023

Deferred Charges, Insurers [Abstract]

Deferred Policy Acquisition Costs and Deferred Sales Inducements

Deferred Policy Acquisition Costs and Deferred Sales Inducements

Deferred Policy Acquisition Costs

The following tables present the balances and changes in deferred policy acquisition costs:

			Nine Months Ended September 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			350,302						16,586						45						366,933
Amortization expense			(184,710)						(22,069)						(493)						(207,272)
Balance, end of period			$	2,814,914					$	114,622					$	3,768					$	2,933,304

			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 Sales Inducements

The following tables present the balances and changes in deferred sales inducements:

			Nine Months Ended September 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			353,220						67						353,287
Amortization expense			(139,568)						(2,338)						(141,906)
Balance, end of period			$	2,231,612					$	25,452					$	2,257,064

			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

Deferred Policy Acquisition Costs and Deferred Sales Inducements

Deferred Policy Acquisition Costs and Deferred Sales Inducements

Deferred Policy Acquisition Costs

The following tables present the balances and changes in deferred policy acquisition costs:

			Nine Months Ended September 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			350,302						16,586						45						366,933
Amortization expense			(184,710)						(22,069)						(493)						(207,272)
Balance, end of period			$	2,814,914					$	114,622					$	3,768					$	2,933,304

			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 Sales Inducements

The following tables present the balances and changes in deferred sales inducements:

			Nine Months Ended September 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			353,220						67						353,287
Amortization expense			(139,568)						(2,338)						(141,906)
Balance, end of period			$	2,231,612					$	25,452					$	2,257,064

			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

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- Definition

The entire disclosure for deferred policy acquisition costs.

+ References

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-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//944-30/tableOfContent

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- 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

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-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2A
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479432/944-30-50-2A

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-Topic 944
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-URI https://asc.fasb.org//944-30/tableOfContent

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