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Deferred Policy Acquisition Costs and Deferred Sales Inducements (Tables)
 9 Months Ended
Sep. 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:
Nine Months Ended September 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 
Capitalizations350,302 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 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 Sales 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:
Nine Months Ended September 30, 2023
Fixed Index AnnuitiesFixed Rate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,017,960 $27,723 $2,045,683 
Capitalizations353,220 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 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