v3.24.0.1
Deferred Policy Acquisition Costs (Tables)
 12 Months Ended
Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Deferred Policy Acquisition Costs
The following table presents the transition rollforward for DAC*:
Individual
Retirement		Group
Retirement		Life
Insurance		Institutional
Markets		Total
(in millions)
Pre-adoption December 31, 2020 DAC balance$2,359 $560 $4,371 $26 $7,316 
Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses)2,062 534 547 7 3,150 
Post-adoption January 1, 2021 DAC balance$4,421 $1,094 $4,918 $33 $10,466 
*Excludes $2.5 billion of DAC in General Insurance.
The following table presents a rollforward of DAC:
Years Ended December 31, 2023General
Insurance		Individual
Retirement		Group
Retirement		Life
Insurance		Institutional
Markets
(in millions)Total
Balance, beginning of year$2,310 $4,597 $1,060 $4,839 $51 $12,857 
Capitalization4,135 705 78 473 28 5,419 
Amortization expense(3,747)(567)(82)(403)(9)(4,808)
Other, including foreign exchange(45)— — 54 — 9 
Dispositions*(578)— — — — (578)
Reclassified to held for sale— — — (814)— (814)
Balance, end of year$2,075 $4,735 $1,056 $4,149 $70 $12,085 
Years Ended December 31, 2022
Balance, beginning of year$2,428 $4,553 $1,078 $4,904 $38 $13,001 
Capitalization3,648 562 62 429 21 4,722 
Amortization expense(3,536)(519)(80)(415)(7)(4,557)
Other, including foreign exchange(230)1 — (79)(1)(309)
Balance, end of year$2,310 $4,597 $1,060 $4,839 $51 $12,857 
Years Ended December 31, 2021
Balance, beginning of year$2,489 $4,421 $1,094 $4,918 $33 $12,955 
Capitalization3,658 579 62 420 10 4,729 
Amortization expense(3,566)(447)(78)(427)(6)(4,524)
Other, including foreign exchange(153)— — (7)1 (159)
Balance, end of year$2,428 $4,553 $1,078 $4,904 $38 $13,001 
*Includes amounts related to the sale of Validus Re through the date of disposition.
The following table presents the transition rollforward for DSI*:
(in millions)Individual
 Retirement		Group
 Retirement		Total
Pre-adoption December 31, 2020 DSI balance$190 $91 $281 
Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses)284 114 398 
Post-adoption January 1, 2021 DSI balance$474 $205 $679 
*Other assets, excluding DSI, totaled $12.8 billion.
The following table presents a rollforward of DSI:
Years Ended December 31,202320222021
(in millions)Individual
Retirement		Group
Retirement		TotalIndividual
Retirement		Group
Retirement		TotalIndividual
Retirement		Group
Retirement		Total
Balance, beginning of year$381 $177 $558 $428 $191 $619 $474 $205 $679 
Capitalization7 1 8 9 — 9 10 — 10 
Amortization expense(55)(14)(69)(56)(14)(70)(56)(14)(70)
Balance, end of year*$333 $164 $497 $381 $177 $558 $428 $191 $619 
*At December 31, 2023, 2022 and 2021, Other assets, excluding DSI, totaled $12.6 billion, $11.8 billion and $14.0 billion, respectively.