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Deferred Policy Acquisition Costs and Deferred Sales Inducements (Tables)
 12 Months Ended
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 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:
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 
Capitalizations557,749 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)
Capitalizations193,989 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 adjustments768,310 
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 
Capitalizations513,726 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 
Capitalizations107,684 7 107,691 
Amortization expense(178,315)(3,655)(181,970)
Balance, end of year$2,017,960 $27,723 $2,045,683