v3.25.4
Deferred Policy Acquisition Costs (Tables)
 12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Deferred Policy Acquisition Costs
The following table presents a rollforward of deferred policy acquisition costs related to long-duration contracts for the years ended December 31, 2025, 2024 and 2023:
Individual
Retirement		Group
Retirement		Life
Insurance		Institutional
Markets		Corporate and OtherTotal
(in millions)
DAC:
Balance at January 1, 2025
$3,020 $1,049 $4,127 $95 $1,990 $10,281 
Capitalization833 95 368 40 45 1,381 
Amortization expense(475)(91)(333)(17)(132)(1,048)
Other adjustments(a)
— — — — (1,739)(1,739)
Balance at December 31, 2025(b)
$3,378 $1,053 $4,162 $118 $164 $8,875 
Balance at January 1, 2024$2,656 $1,055 $4,092 $70 $2,121 $9,994 
Capitalization768 78 411 38 82 1,377 
Amortization expense(404)(84)(342)(13)(213)(1,056)
Other, including foreign exchange— — (7)— — (7)
Dispositions— — (27)— — (27)
Balance at December 31, 2024(b)
$3,020 $1,049 $4,127 $95 $1,990 $10,281 
Balance at January 1, 2023$2,409 $1,060 $4,718 $51 $2,234 $10,472 
Capitalization602 77 450 28 103 1,260 
Amortization expense(355)(82)(372)(9)(216)(1,034)
Other, including foreign exchange— — 36 — — 36 
Reclassified to Assets held-for-sale(c)
— — (740)— — (740)
Balance at December 31, 2023(b)
$2,656 $1,055 $4,092 $70 $2,121 $9,994 
(a)    Includes the impacts of the reinsurance agreement with CSLR. See Note 7 for additional information.
(b)    Excludes value of business acquired (“VOBA”) of $10 million, $12 million and $17 million at Balance at December 31, 2025, 2024 and 2023, respectively.
(c)    $740 million relates to the closing of the sale of AIG Life U.K.
The following table presents a rollforward of deferred sales inducement assets related to long-duration contracts for the years ended December 31, 2025, 2024 and 2023:
Individual
Retirement		Group
Retirement		Corporate and OtherTotal
(in millions)
Balance at January 1, 2025$218 $152 $70 $440 
Capitalization— — — — 
Amortization expense(36)(12)(6)(54)
Other adjustments(a)
— — (63)(63)
Balance at December 31, 2025$182 $140 $1 $323 
Other reconciling items(b)
4,112 
Other assets, including restricted cash$4,435 
Balance at January 1, 2024$254 $164 $79 $497 
Capitalization5 1 — 6 
Amortization expense(41)(13)(9)(63)
Balance at December 31, 2024$218 $152 $70 $440 
Other reconciling items(b)
1,602 
Other assets, including restricted cash$2,042 
Balance at January 1, 2023$291 $177 $90 $558 
Capitalization7 1 — 8 
Amortization expense(44)(14)(11)(69)
Balance at December 31, 2023$254 $164 $79 $497 
Other reconciling items(b)
1,797 
Other assets, including restricted cash$2,294 
(a)    Includes the impacts of the reinsurance agreement with CSLR. See Note 7 for additional information.
(b)    Other reconciling items include deposit assets, prepaid expenses, goodwill, intangible assets and any similar items.