Deferred acquisition costs

3 Months Ended

Mar. 31, 2025

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs

Deferred policy acquisition costs

The following tables present a roll-forward of deferred policy acquisition costs on long-duration contracts included in the Life Insurance segment:

	Three Months Ended March 31, 2025
(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	469	$	722	$	870	$	1,681	$	324	$	4,066
Capitalizations	58		38		109		170		40		415
Amortization expense	(36)		(20)		(12)		(54)		(7)		(129)
Other (including foreign exchange)	4		(8)		(4)		(16)		(2)		(26)
Balance – end of period	$	495	$	732	$	963	$	1,781	$	355	$	4,326
Overseas General Insurance segment excluded from table											608
Total deferred policy acquisition costs on long-duration contracts											$	4,934
Deferred policy acquisition costs on short-duration contracts											3,841
Total deferred policy acquisition costs											$	8,775

	Three Months Ended March 31, 2024
(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	402	$	674	$	534	$	1,301	$	274	$	3,185
Capitalizations	47		33		85		158		16		339
Amortization expense	(28)		(20)		(8)		(41)		(7)		(104)
Other (including foreign exchange)	(8)		1		(3)		3		(2)		(9)
Balance – end of period	$	413	$	688	$	608	$	1,421	$	281	$	3,411
Overseas General Insurance segment excluded from table											616
Total deferred policy acquisition costs on long-duration contracts											$	4,027
Deferred policy acquisition costs on short-duration contracts											3,510
Total deferred policy acquisition costs											$	7,537