Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

15. Intangible Assets

The components of definite-lived and indefinite-lived intangible assets are as follows. Refer to Note 14 - Deferred Policy Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired for VOBA asset, which is an actuarial intangible asset arising from a business combination.

	June 30, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(Dollars in millions)
Definite-lived intangible assets:
Distributor relationships	$	1,485	$	(11)	$	1,474	$	5	$	—	$	5
Trade name	58		(3)		55		10		(2)		8
Internally generated software	38		(1)		37		—		—		—
Sublease and other	—		—		—		—		—		—
Total definite-lived intangible assets	1,581		(15)		1,566		15		(2)		13
Indefinite-lived intangible assets:
Insurance licenses	46		—		46		31		—		31
Total indefinite-lived intangible assets	46		—		46		31		—		31
Total intangible assets	$	1,627	$	(15)	$	1,612	$	46	$	(2)	$	44

No impairment expenses of intangible assets were recognized for the three and six months ended June 30, 2024 and 2023. We estimate that our intangible assets do not have any significant residual value in determining their amortization. Amortization expenses for definite-lived intangible assets were $12 million and $13 million for the three and six months ended June 30, 2024 and $0 million and $1 million for the three and six months ended June 30, 2023, respectively.

The following table outlines the estimated future amortization expense related to definite-lived intangible assets held as of June 30, 2024.

Years	(Dollars in millions)
2024	$	36
2025	73
2026	73
2027	73
2028	73
Thereafter	1,238
Total amortization expense	$	1,566