Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements (Tables)

6 Months Ended

Jun. 30, 2024

Deferred Charges, Insurers [Abstract]

Deferred Policy Acquisition Costs

The following tables show a rollforward for the lines of business that contain DAC balances, along with a reconciliation to the Company's total DAC balance:

	Six Months Ended June 30, 2024
	Fixed Annuities		Variable Annuities		Term Life		Variable / Universal Life		Total
	(in thousands)
Balance, beginning of period	$	197,937	$	3,257,761	$	743,888	$	2,897,925	$	7,097,511
Capitalization	120,883		175,313		90,283		311,263		697,742
Amortization expense	(18,538)		(170,567)		(36,597)		(68,114)		(293,816)
Other(1)	0		0		(97)		(18,507)		(18,604)
Balance, end of period	$	300,282	$	3,262,507	$	797,477	$	3,122,567	$	7,482,833

(1)    Other includes the impact of the Universal Life reinsurance transaction with Prudential Arizona Reinsurance Universal Company (“PAR U”) and PURE. See Note 11 for additional information.

	Six Months Ended June 30, 2023
	Fixed Annuities		Variable Annuities		Term Life		Variable / Universal Life		Total
	(in thousands)
Balance, beginning of period	$	102,251	$	3,736,454	$	648,837	$	2,442,883	$	6,930,425
Capitalization	48,552		117,342		72,216		275,783		513,893
Amortization expense	(9,490)		(166,332)		(31,084)		(59,736)		(266,642)
Other(1)	0		(393,385)		0		0		(393,385)
Balance, end of period	$	141,313	$	3,294,079	$	689,969	$	2,658,930	$	6,784,291

(1)Other includes the impact of the reinsurance agreement with AuguStar. See Note 11 for additional information.

Deferred Reinsurance Losses

The following tables show a rollforward for the lines of business that contain DRL balances, along with a reconciliation to the Company's total DRL balance:

	Six Months Ended June 30, 2024
	Variable Annuities		Term Life		Total
	(in thousands)
Balance, beginning of period	$	194,110	$	61,003	$	255,113
Amortization expense	(14,824)		(3,870)		(18,694)
Other	1		0		1
Balance, end of period	$	179,287	$	57,133	$	236,420

	Six Months Ended June 30, 2023
	Variable Annuities		Term Life		Total
	(in thousands)
Balance, beginning of period	$	223,515	$	69,378	$	292,893
Amortization expense	(15,113)		(4,280)		(19,393)
Balance, end of period	$	208,402	$	65,098	$	273,500

Deferred Reinsurance Gains

The following tables show a rollforward for the lines of business that contain DRG balances, along with a reconciliation to the Company's total DRG balance:

	Six Months Ended June 30, 2024
	Fixed Annuities		Variable Annuities		Variable / Universal Life		Total
	(in thousands)
Balance, beginning of period	$	48,073	$	261,721	$	1,363,496	$	1,673,290
Amortization	(5,444)		(10,119)		(58,690)		(74,253)
Other(1)	(8)		(40)		1,092,199		1,092,151
Balance, end of period	$	42,621	$	251,562	$	2,397,005	$	2,691,188

(1)Other includes the impact of the Universal Life reinsurance transaction with PAR U, PURE and Prudential Insurance, including $1,207 million of DRG, partially offset by a $116 million write-off. See Note 11 for additional information.

	Six Months Ended June 30, 2023
	Fixed Annuities		Variable Annuities		Variable / Universal Life		Total
	(in thousands)
Balance, beginning of period	$	57,898	$	0	$	1,434,958	$	1,492,856
Amortization	(4,406)		(5,209)		(36,032)		(45,647)
Other(1)	0		277,262		0		277,262
Balance, end of period	$	53,492	$	272,053	$	1,398,926	$	1,724,471

(1)Other includes the impact of the reinsurance agreement with AuguStar. See Note 11 for additional information.

Deferred Sale Inducement Cost

The following table shows a rollforward of DSI balances for variable annuity products, which is the only line of business that contains a DSI balance, along with a reconciliation to the Company's total DSI balance:

	Six Months Ended June 30,
	2024		2023
	(in thousands)
Balance, beginning of period	$	351,424	$	381,504
Capitalization	1,214		1,503
Amortization expense	(15,436)		(16,088)
Other	0		(3)
Balance, end of period	$	337,202	$	366,916