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Deferred Policy Acquisition Costs and Deferred Sales Inducements (Tables) | 12 Months Ended
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Dec. 31, 2023
Insurance [Abstract] |
Rollforward of 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:
| December 31, 2023
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Single Premium Immediate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of year | $ | 2,649,322 |  |  | $ | 120,105 |  |  | $ | 4,216 |  |  | $ | 2,773,643 |
Capitalizations | 557,749 |  |  | 18,536 |  |  | 52 |  |  | 576,337 |
Amortization expense | (249,607) |  |  | (29,454) |  |  | (639) |  |  | (279,700) |
Balance, end of year | $ | 2,957,464 |  |  | $ | 109,187 |  |  | $ | 3,629 |  |  | $ | 3,070,280 |
| December 31, 2022
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Single Premium Immediate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of year | $ | 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 year | $ | 2,649,322 |  |  | $ | 120,105 |  |  | $ | 4,216 |  |  | $ | 2,773,643 |
Rollforward of 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 adjustments | 768,310 |
Post adoption 1/1/2021 balance | $ | 2,216,685 |
The following tables present the balances and changes in deferred sales inducements:
| December 31, 2023
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of year | $ | 2,017,960 |  |  | $ | 27,723 |  |  | $ | 2,045,683 |
Capitalizations | 513,726 |  |  | 67 |  |  | 513,793 |
Amortization expense | (189,200) |  |  | (3,052) |  |  | (192,252) |
Balance, end of year | $ | 2,342,486 |  |  | $ | 24,738 |  |  | $ | 2,367,224 |
| December 31, 2022
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of year | $ | 2,088,591 |  |  | $ | 31,371 |  |  | $ | 2,119,962 |
Capitalizations | 107,684 |  |  | 7 |  |  | 107,691 |
Amortization expense | (178,315) |  |  | (3,655) |  |  | (181,970) |
Balance, end of year | $ | 2,017,960 |  |  | $ | 27,723 |  |  | $ | 2,045,683 |

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