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Deferred Policy Acquisition Costs and Deferred Sales Inducements (Tables) | 3 Months Ended
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Mar. 31, 2024
Deferred Charges, Insurers [Abstract] |
Deferred Policy Acquisition Costs | The following tables present the balances and changes in deferred policy acquisition costs:
| Three Months Ended March 31, 2024
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Single Premium Immediate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of period | $ | 2,957,464 |  |  | $ | 109,187 |  |  | $ | 3,629 |  |  | $ | 3,070,280 |
Capitalizations | 159,143 |  |  | 32,655 |  |  | 16 |  |  | 191,814 |
Amortization expense | (69,525) |  |  | (7,671) |  |  | (141) |  |  | (77,337) |
Balance, end of period | $ | 3,047,082 |  |  | $ | 134,171 |  |  | $ | 3,504 |  |  | $ | 3,184,757 |
| Year Ended December 31, 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 | 557,749 |  |  | 18,536 |  |  | 52 |  |  | 576,337 |
Amortization expense | (249,607) |  |  | (29,454) |  |  | (639) |  |  | (279,700) |
Balance, end of period | $ | 2,957,464 |  |  | $ | 109,187 |  |  | $ | 3,629 |  |  | $ | 3,070,280 |
Deferred Sales Inducements | The following tables present the balances and changes in deferred sales inducements:
| Three Months Ended March 31, 2024
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of period | $ | 2,342,486 |  |  | $ | 24,738 |  |  | $ | 2,367,224 |
Capitalizations | 127,687 |  |  | 17 |  |  | 127,704 |
Amortization expense | (53,526) |  |  | (688) |  |  | (54,214) |
Balance, end of period | $ | 2,416,647 |  |  | $ | 24,067 |  |  | $ | 2,440,714 |
| Year Ended December 31, 2023
| Fixed Index Annuities |  | Fixed Rate Annuities |  | Total
| (Dollars in thousands)
Balance, beginning of period | $ | 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 period | $ | 2,342,486 |  |  | $ | 24,738 |  |  | $ | 2,367,224 |

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