Deferred Policy Acquisition Costs (Tables)

12 Months Ended

Dec. 31, 2020

A progression of deferred policy acquisition costs is presented below (in millions):


	P&C		Annuity and Run-off
	Deferred		Deferred		Sales										Consolidated
	Costs		Costs		Inducements		PVFP		Subtotal		Unrealized (*)		Total		Total
Balance at December 31, 2017	$	270	$	1,217	$	102	$	49	$	1,368	$	(422)	$	946	$	1,216
Additions	675		263		2		—		265		—		265		940
Amortization:
Periodic amortization	(644)		(238)		(19)		(7)		(264)		—		(264)		(908)
Annuity unlocking	—		29		—		—		29		—		29		29
Included in realized gains	—		14		1		—		15		—		15		15
Foreign currency translation	(2)		—		—		—		—		—		—		(2)

Change in unrealized	—		—		—		—		—		392		392		392
Balance at December 31, 2018	299		1,285		86		42		1,413		(30)		1,383		1,682

Additions	744		206		2		—		208		—		208		952
Amortization:
Periodic amortization	(721)		(120)		(13)		(6)		(139)		—		(139)		(860)
Annuity unlocking	—		(76)		(1)		—		(77)		—		(77)		(77)
Included in realized gains	—		8		1		—		9		—		9		9
Foreign currency translation	—		—		—		—		—		—		—		—

Change in unrealized	—		—		—		—		—		(669)		(669)		(669)
Balance at December 31, 2019	322		1,303		75		36		1,414		(699)		715		1,037

Additions	547		154		2		—		156		—		156		703
Amortization:
Periodic amortization	(615)		(127)		(9)		(6)		(142)		—		(142)		(757)
Annuity unlocking	—		(118)		4		—		(114)		—		(114)		(114)
Included in realized gains	—		(42)		1		—		(41)		—		(41)		(41)
Foreign currency translation	—		—		—		—		—		—		—		—
Other	(10)		—		—		—		—		—		—		(10)
Change in unrealized	—		—		—		—		—		(272)		(272)		(272)
Balance at December 31, 2020	$	244	$	1,170	$	73	$	30	$	1,273	$	(971)	$	302	$	546

(*)Adjustments to DPAC related to net unrealized gains/losses on securities and cash flow hedges.