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Deferred Policy Acquisition Costs and Deferred Sales Inducements
6 Months Ended
Jun. 30, 2023
Deferred Charges, Insurers [Abstract]  
Deferred Policy Acquisition Costs and Deferred Sales Inducements Deferred Policy Acquisition Costs and Deferred Sales Inducements
Deferred Policy Acquisition Costs
The following tables present the balances and changes in deferred policy acquisition costs:
Six Months Ended June 30, 2023
Fixed Index AnnuitiesFixed Rate AnnuitiesSingle Premium Immediate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,649,322 $120,105 $4,216 $2,773,643 
Capitalizations189,581 16,079 23 205,683 
Amortization expense(121,769)(14,600)(342)(136,711)
Balance, end of period$2,717,134 $121,584 $3,897 $2,842,615 
Year Ended December 31, 2022
Fixed Index AnnuitiesFixed Rate AnnuitiesSingle Premium Immediate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,906,684 $151,322 $4,198 $3,062,204 
Write-off related to in-force ceded reinsurance(196,417)(7,209)— (203,626)
Capitalizations193,989 4,424 663 199,076 
Amortization expense(254,934)(28,432)(645)(284,011)
Balance, end of period$2,649,322 $120,105 $4,216 $2,773,643 
Deferred Sales Inducements
The following tables present the balances and changes in deferred sales inducements:
Six Months Ended June 30, 2023
Fixed Index AnnuitiesFixed Rate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,017,960 $27,723 $2,045,683 
Capitalizations182,123 — 182,123 
Amortization expense(91,964)(1,588)(93,552)
Balance, end of period$2,108,119 $26,135 $2,134,254 
Year Ended December 31, 2022
Fixed Index AnnuitiesFixed Rate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,088,591 $31,370 $2,119,961 
Capitalizations107,684 107,692 
Amortization expense(178,315)(3,655)(181,970)
Balance, end of period$2,017,960 $27,723 $2,045,683 
Deferred Policy Acquisition Costs and Deferred Sales Inducements Deferred Policy Acquisition Costs and Deferred Sales Inducements
Deferred Policy Acquisition Costs
The following tables present the balances and changes in deferred policy acquisition costs:
Six Months Ended June 30, 2023
Fixed Index AnnuitiesFixed Rate AnnuitiesSingle Premium Immediate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,649,322 $120,105 $4,216 $2,773,643 
Capitalizations189,581 16,079 23 205,683 
Amortization expense(121,769)(14,600)(342)(136,711)
Balance, end of period$2,717,134 $121,584 $3,897 $2,842,615 
Year Ended December 31, 2022
Fixed Index AnnuitiesFixed Rate AnnuitiesSingle Premium Immediate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,906,684 $151,322 $4,198 $3,062,204 
Write-off related to in-force ceded reinsurance(196,417)(7,209)— (203,626)
Capitalizations193,989 4,424 663 199,076 
Amortization expense(254,934)(28,432)(645)(284,011)
Balance, end of period$2,649,322 $120,105 $4,216 $2,773,643 
Deferred Sales Inducements
The following tables present the balances and changes in deferred sales inducements:
Six Months Ended June 30, 2023
Fixed Index AnnuitiesFixed Rate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,017,960 $27,723 $2,045,683 
Capitalizations182,123 — 182,123 
Amortization expense(91,964)(1,588)(93,552)
Balance, end of period$2,108,119 $26,135 $2,134,254 
Year Ended December 31, 2022
Fixed Index AnnuitiesFixed Rate AnnuitiesTotal
(Dollars in thousands)
Balance, beginning of period$2,088,591 $31,370 $2,119,961 
Capitalizations107,684 107,692 
Amortization expense(178,315)(3,655)(181,970)
Balance, end of period$2,017,960 $27,723 $2,045,683