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Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Components of Definite-lived Intangible Assets
The components of definite-lived and indefinite-lived intangible assets are as follows. Refer to Note 14 - Deferred Policy Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired for VOBA asset, which is an actuarial intangible asset arising from a business combination.
September 30, 2024December 31, 2023
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
(Dollars in millions)
Definite-lived intangible assets:
Distributor relationships$1,485 $(27)$1,458 $5 $— $5 
Trade name58 (4)54 10 (2)8 
Internally generated software45 (4)41 — — — 
Total definite-lived intangible assets1,588 (35)1,553 15 (2)13 
Indefinite-lived intangible assets:
Insurance licenses46 — 46 31 — 31 
Total indefinite-lived intangible assets46 — 46 31 — 31 
Total intangible assets$1,634 $(35)$1,599 $46 $(2)$44 
Components of Indefinite-lived Intangible Assets
The components of definite-lived and indefinite-lived intangible assets are as follows. Refer to Note 14 - Deferred Policy Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired for VOBA asset, which is an actuarial intangible asset arising from a business combination.
September 30, 2024December 31, 2023
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
(Dollars in millions)
Definite-lived intangible assets:
Distributor relationships$1,485 $(27)$1,458 $5 $— $5 
Trade name58 (4)54 10 (2)8 
Internally generated software45 (4)41 — — — 
Total definite-lived intangible assets1,588 (35)1,553 15 (2)13 
Indefinite-lived intangible assets:
Insurance licenses46 — 46 31 — 31 
Total indefinite-lived intangible assets46 — 46 31 — 31 
Total intangible assets$1,634 $(35)$1,599 $46 $(2)$44 
Schedule of Estimated Future Amortization Expense
The following table outlines the estimated future amortization expense related to definite-lived intangible assets held as of September 30, 2024.
Years(Dollars in millions)
2024$21 
202581 
202681 
202772 
202867 
Thereafter1,231 
Total amortization expense$1,553