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Intangible Assets | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | 15. 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 |
No impairment expenses of intangible assets were recognized for the three and six months ended June 30, 2025 and 2024. The Company estimates that its intangible assets do not have any significant residual value in determining their amortization. Amortization expenses for definite-lived intangible assets were $21 million and $50 million for the three and six months ended June 30, 2025, and $12 million and $13 million for the three and six months ended June 30, 2024, respectively. 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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