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 Annuities | | Fixed Rate Annuities | | Single Premium Immediate Annuities | | Total | | (Dollars in thousands) | Balance, beginning of period | $ | 2,649,322 | | | $ | 120,105 | | | $ | 4,216 | | | $ | 2,773,643 | | | | | | | | | | Capitalizations | 189,581 | | | 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 Annuities | | Fixed Rate Annuities | | Single Premium Immediate Annuities | | Total | | (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) | | Capitalizations | 193,989 | | | 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 Annuities | | Fixed Rate Annuities | | Total | | (Dollars in thousands) | Balance, beginning of period | $ | 2,017,960 | | | $ | 27,723 | | | $ | 2,045,683 | | Capitalizations | 182,123 | | | — | | | 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 Annuities | | Fixed Rate Annuities | | Total | | (Dollars in thousands) | Balance, beginning of period | $ | 2,088,591 | | | $ | 31,370 | | | $ | 2,119,961 | | Capitalizations | 107,684 | | | 8 | | | 107,692 | | Amortization expense | (178,315) | | | (3,655) | | | (181,970) | | Balance, end of period | $ | 2,017,960 | | | $ | 27,723 | | | $ | 2,045,683 | |
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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 Annuities | | Fixed Rate Annuities | | Single Premium Immediate Annuities | | Total | | (Dollars in thousands) | Balance, beginning of period | $ | 2,649,322 | | | $ | 120,105 | | | $ | 4,216 | | | $ | 2,773,643 | | | | | | | | | | Capitalizations | 189,581 | | | 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 Annuities | | Fixed Rate Annuities | | Single Premium Immediate Annuities | | Total | | (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) | | Capitalizations | 193,989 | | | 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 Annuities | | Fixed Rate Annuities | | Total | | (Dollars in thousands) | Balance, beginning of period | $ | 2,017,960 | | | $ | 27,723 | | | $ | 2,045,683 | | Capitalizations | 182,123 | | | — | | | 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 Annuities | | Fixed Rate Annuities | | Total | | (Dollars in thousands) | Balance, beginning of period | $ | 2,088,591 | | | $ | 31,370 | | | $ | 2,119,961 | | Capitalizations | 107,684 | | | 8 | | | 107,692 | | Amortization expense | (178,315) | | | (3,655) | | | (181,970) | | Balance, end of period | $ | 2,017,960 | | | $ | 27,723 | | | $ | 2,045,683 | |
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