Deferred Policy Acquisition Costs (Tables)

3 Months Ended

Mar. 31, 2024

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,
	2024		2023
Property casualty:
Deferred policy acquisition costs asset, beginning of period	$	749	$	682
Capitalized deferred policy acquisition costs	407		372
Amortized deferred policy acquisition costs	(360)		(340)
Deferred policy acquisition costs asset, end of period	$	796	$	714
Life:
Deferred policy acquisition costs asset, beginning of period	$	344	$	331
Capitalized deferred policy acquisition costs	10		11
Amortized deferred policy acquisition costs	(7)		(8)
Deferred policy acquisition costs asset, end of period	$	347	$	334
Consolidated:
Deferred policy acquisition costs asset, beginning of period	$	1,093	$	1,013
Capitalized deferred policy acquisition costs	417		383
Amortized deferred policy acquisition costs	(367)		(348)
Deferred policy acquisition costs asset, end of period	$	1,143	$	1,048

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, 2024	Term		Whole life		Deferred annuity		Universal life		Total
Balance, beginning of period	$	236	$	48	$	8	$	52	$	344
Capitalized deferred policy acquisition costs	8		2		—		—		10
Amortized deferred policy acquisition costs	(6)		(1)		—		—		(7)
Balance, end of period	$	238	$	49	$	8	$	52	$	347
Three months ended March 31, 2023
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