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Deferred Policy Acquisition Costs and Deferred Sales Inducements
12 Months Ended
Dec. 31, 2022
Deferred Charges, Insurers [Abstract]  
Deferred Policy Acquisition Costs and Deferred Sales Inducements Deferred Policy Acquisition Costs and Deferred Sales Inducements
Deferred Policy Acquisition Costs
The following tables present the balances and changes in deferred policy acquisition costs:
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 
December 31, 2021
Fixed Index
Annuities
Fixed Rate
Annuities
Single Premium
Immediate Annuities
Total
(Dollars in thousands)
Balance, beginning of year$3,286,059 $119,805 $2,641 $3,408,505 
Write-off related to in-force ceded reinsurance(349,614)— — (349,614)
Capitalizations250,070 57,344 2,269 309,683 
Amortization expense(279,831)(25,827)(712)(306,370)
Balance, end of year$2,906,684 $151,322 $4,198 $3,062,204 
Deferred Sales Inducements
The following tables present the balances and changes in deferred sales inducements:
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 
Capitalizations107,684 107,691 
Amortization expense(178,315)(3,655)(181,970)
Balance, end of year$2,017,960 $27,723 $2,045,683 
December 31, 2021
Fixed Index
Annuities
Fixed Rate
Annuities
Total
(Dollars in thousands)
Balance, beginning of year$2,180,980 $35,705 $2,216,685 
Capitalizations95,104 57 95,161 
Amortization expense(187,493)(4,391)(191,884)
Balance, end of year$2,088,591 $31,371 $2,119,962 
Deferred Policy Acquisition Costs and Deferred Sales Inducements Deferred Policy Acquisition Costs and Deferred Sales Inducements
Deferred Policy Acquisition Costs
The following tables present the balances and changes in deferred policy acquisition costs:
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 
December 31, 2021
Fixed Index
Annuities
Fixed Rate
Annuities
Single Premium
Immediate Annuities
Total
(Dollars in thousands)
Balance, beginning of year$3,286,059 $119,805 $2,641 $3,408,505 
Write-off related to in-force ceded reinsurance(349,614)— — (349,614)
Capitalizations250,070 57,344 2,269 309,683 
Amortization expense(279,831)(25,827)(712)(306,370)
Balance, end of year$2,906,684 $151,322 $4,198 $3,062,204 
Deferred Sales Inducements
The following tables present the balances and changes in deferred sales inducements:
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 
Capitalizations107,684 107,691 
Amortization expense(178,315)(3,655)(181,970)
Balance, end of year$2,017,960 $27,723 $2,045,683 
December 31, 2021
Fixed Index
Annuities
Fixed Rate
Annuities
Total
(Dollars in thousands)
Balance, beginning of year$2,180,980 $35,705 $2,216,685 
Capitalizations95,104 57 95,161 
Amortization expense(187,493)(4,391)(191,884)
Balance, end of year$2,088,591 $31,371 $2,119,962