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Deferred acquisition costs
9 Months Ended
Sep. 30, 2023
Deferred Policy Acquisition Costs Disclosures [Abstract]  
Deferred Policy Acquisition Costs Deferred acquisition costs
Deferred acquisition costs comprise capitalized costs on short-duration contracts of $3,283 million and $2,809 million and long-duration contracts of $3,573 million and $2,979 million at September 30, 2023, and September 30, 2022, respectively. The assumptions used to amortize DAC were consistent with the assumptions used to estimate the liability for future policy benefits for nonparticipating traditional and limited-payment contracts.

The following tables present a roll-forward of deferred acquisitions costs on long-duration contracts included in the Life Insurance segment:

Nine Months Ended September 30, 2023
(in millions of U.S. dollars)Term LifeUniversal LifeWhole LifeA&HOtherTotal
Balance – beginning of period $320 $776 $395 $902 $121 $2,514 
Capitalizations118 85 102 392 25 722 
Amortization expense(74)(57)(16)(100)(15)(262)
Other (including foreign exchange)8 (20)7 (13)(4)(22)
Balance - end of period$372 $784 $488 $1,181 $127 $2,952 
Overseas General Insurance segment excluded from table621 
Total deferred acquisition costs on long-duration contracts$3,573 
Nine Months Ended September 30, 2022
(in millions of U.S. dollars)Term LifeUniversal LifeWhole LifeA&HOtherTotal
Balance – beginning of period $246 $771 $334 $745 $108 $2,204 
Capitalizations111 95 46 166 39 457 
Amortization expense(56)(55)(14)(72)(16)(213)
Other (including foreign exchange)(2)(50)(16)(20)(14)(102)
Balance - end of period$299 $761 $350 $819 $117 $2,346 
Overseas General Insurance segment excluded from table633 
Total deferred acquisition costs on long-duration contracts$2,979