Deferred Policy Acquisition Costs and Value of Business Acquired

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Deferred Policy Acquisition Costs

5.    Deferred Policy Acquisition Costs and Value of Business Acquired

The following table presents a rollforward of DAC and VOBA for the periods indicated:

	DAC		VOBA
	Wealth Solutions Deferred and Individual Annuities
Balance as of January 1, 2022	$	573	$	375
Deferrals of commissions and expenses	54		4
Amortization expense	(49)		(31)
Balance as of December 31, 2022	$	578	$	348
Deferrals of commissions and expenses	41		2
Amortization expense	(34)		(22)
Balance as of September 30, 2023	$	585	$	328

The following table shows a reconciliation of DAC and VOBA balances to the Condensed Consolidated Balance Sheets for the periods indicated:

	September 30, 2023		December 31, 2022
DAC:
Wealth Solutions Deferred and Individual Annuities	$	585	$	578
Other	10		12
VOBA	328		348
Total	$	923	$	938

There was no loss recognition for VOBA during 2023 and 2022.