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Deferred Policy Acquisition Costs and Deferred Sales Inducements

12 Months Ended

Dec. 31, 2023

Insurance [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:

			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

Deferred Sales Inducements

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

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:

			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

Deferred Sales Inducements

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

X

- Definition

The entire disclosure for deferred policy acquisition costs.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//944-30/tableOfContent

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X

- 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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479432/944-30-50-2A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//944-30/tableOfContent

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