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Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2025
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.
| June 30, 2025 |  | December 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
| (Dollars in millions)
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Distributor relationships | $ | 1,445 |  |  | $ | (68) |  |  | $ | 1,377 |  |  | $ | 1,445 |  |  | $ | (41) |  |  | $ | 1,404 |
Trade name | 58 |  |  | (9) |  |  | 49 |  |  | 58 |  |  | (6) |  |  | 52 |
Software and other | 114 |  |  | (29) |  |  | 85 |  |  | 52 |  |  | (9) |  |  | 43 |
Total definite-lived intangible assets | 1,617 |  |  | (106) |  |  | 1,511 |  |  | 1,555 |  |  | (56) |  |  | 1,499 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Insurance licenses | 46 |  |  | — |  |  | 46 |  |  | 46 |  |  | — |  |  | 46 |
Total indefinite-lived intangible assets | 46 |  |  | — |  |  | 46 |  |  | 46 |  |  | — |  |  | 46 |
Total intangible assets | $ | 1,663 |  |  | $ | (106) |  |  | $ | 1,557 |  |  | $ | 1,601 |  |  | $ | (56) |  |  | $ | 1,545 |
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.
| June 30, 2025 |  | December 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
| (Dollars in millions)
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Distributor relationships | $ | 1,445 |  |  | $ | (68) |  |  | $ | 1,377 |  |  | $ | 1,445 |  |  | $ | (41) |  |  | $ | 1,404 |
Trade name | 58 |  |  | (9) |  |  | 49 |  |  | 58 |  |  | (6) |  |  | 52 |
Software and other | 114 |  |  | (29) |  |  | 85 |  |  | 52 |  |  | (9) |  |  | 43 |
Total definite-lived intangible assets | 1,617 |  |  | (106) |  |  | 1,511 |  |  | 1,555 |  |  | (56) |  |  | 1,499 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Insurance licenses | 46 |  |  | — |  |  | 46 |  |  | 46 |  |  | — |  |  | 46 |
Total indefinite-lived intangible assets | 46 |  |  | — |  |  | 46 |  |  | 46 |  |  | — |  |  | 46 |
Total intangible assets | $ | 1,663 |  |  | $ | (106) |  |  | $ | 1,557 |  |  | $ | 1,601 |  |  | $ | (56) |  |  | $ | 1,545 |
Schedule of Estimated Future Amortization Expense | The following table outlines the estimated future amortization expense related to definite-lived intangible assets held as of June 30, 2025.
Years | (Dollars in millions)
2025 (1) | $ | 45 |
2026 | 93 |
2027 | 82 |
2028 | 77 |
2029 | 71 |
Thereafter | 1,143 |
Total amortization expense | $ | 1,511 |
(1)Expected amortization for the remainder of 2025.

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