Deferred Policy Acquisition Costs (Tables)

3 Months Ended

Mar. 31, 2023

Deferred Costs [Abstract]

Deferred Policy Acquisition Costs And Asset Reconciliation, Including the Amortized Deferred Policy Acquisition Costs

The table below shows the deferred policy acquisition costs and asset reconciliation.

(Dollars in millions)	Three months ended March 31,
	2023		2022
Property casualty:
Deferred policy acquisition costs asset, beginning of period	$	682	$	602
Capitalized deferred policy acquisition costs	372		364
Amortized deferred policy acquisition costs	(340)		(301)
Deferred policy acquisition costs asset, end of period	$	714	$	665
Life:
Deferred policy acquisition costs asset, beginning of period	$	331	$	314
Capitalized deferred policy acquisition costs	11		12
Amortized deferred policy acquisition costs	(8)		(7)
Deferred policy acquisition costs asset, end of period	$	334	$	319
Consolidated:
Deferred policy acquisition costs asset, beginning of period	$	1,013	$	916
Capitalized deferred policy acquisition costs	383		376
Amortized deferred policy acquisition costs	(348)		(308)
Deferred policy acquisition costs asset, end of period	$	1,048	$	984

Life Deferred Policy Acquisition Costs by Product

The table below shows the life deferred policy acquisition costs asset by product:

(Dollars in millions)
Three months ended March 31, 2023	Term		Whole life		Deferred annuity		Universal life		Total
Balance, beginning of period	$	228	$	43	$	7	$	53	$	331
Capitalized deferred policy acquisition costs	9		2		—		—		11
Amortized deferred policy acquisition costs	(6)		(1)		—		(1)		(8)
Balance, end of period	$	231	$	44	$	7	$	52	$	334
Three months ended March 31, 2022
Balance, beginning of period	$	215	$	38	$	7	$	54	$	314
Capitalized deferred policy acquisition costs	10		2		—		—		$	12
Amortized deferred policy acquisition costs	(5)		(1)		—		(1)		$	(7)
Balance, end of period	$	220	$	39	$	7	$	53	$	319