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

9 Months Ended

Sep. 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:

	Nine Months Ended September 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	174,397		272,819		138,395		484,131		1,069,742
Amortization expense	(29,806)		(256,552)		(52,564)		(103,817)		(442,739)
Other(1)	0		0		(97)		(18,339)		(18,436)
Balance, end of period	$	342,528	$	3,274,028	$	829,622	$	3,259,900	$	7,706,078

(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.

	Nine Months Ended September 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	77,409		180,239		114,860		412,902		785,410
Amortization expense	(15,270)		(245,590)		(47,256)		(90,768)		(398,884)
Other(1)	0		(393,385)		0		(12)		(393,397)
Balance, end of period	$	164,390	$	3,277,718	$	716,441	$	2,765,005	$	6,923,554

(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:

	Nine Months Ended September 30, 2024
	Variable Annuities		Term Life		Total
	(in thousands)
Balance, beginning of period	$	194,110	$	61,003	$	255,113
Amortization expense	(22,230)		(5,728)		(27,958)
Other	10		0		10
Balance, end of period	$	171,890	$	55,275	$	227,165

	Nine Months Ended September 30, 2023
	Variable Annuities		Term Life		Total
	(in thousands)
Balance, beginning of period	$	223,515	$	69,378	$	292,893
Amortization expense	(22,283)		(6,350)		(28,633)
Other	(8)		0		(8)
Balance, end of period	$	201,224	$	63,028	$	264,252

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:

	Nine Months Ended September 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	(8,109)		(15,237)		(86,695)		(110,041)
Other(1)	118		98		1,092,199		1,092,415
Balance, end of period	$	40,082	$	246,582	$	2,369,000	$	2,655,664

(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.

	Nine Months Ended September 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	(7,141)		(10,265)		(53,834)		(71,240)
Other(1)	28		277,133		0		277,161
Balance, end of period	$	50,785	$	266,868	$	1,381,124	$	1,698,777

(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:

	Nine Months Ended September 30,
	2024		2023
	(in thousands)
Balance, beginning of period	$	351,424	$	381,504
Capitalization	1,753		2,053
Amortization expense	(22,913)		(23,881)
Other	0		(2)
Balance, end of period	$	330,264	$	359,674