Deferred Acquisition Costs and Deferred Sales Inducement Costs (Tables)

6 Months Ended

Jun. 30, 2026

The following tables summarize the balances of and changes in deferred acquisition costs (“DAC”):


	Variable Annuities		Structured Variable Annuities		Fixed Annuities		Fixed Indexed Annuities		Universal Life Insurance		Variable Universal Life Insurance
	(in millions)
Balance at January 1, 2026	$	1,313	$	325	$	23	$	3	$	96	$	570
Capitalization of acquisition costs	12		52		—		—		—		31
Amortization	(54)		(22)		(3)		—		(4)		(23)
Balance at June 30, 2026	$	1,271	$	355	$	20	$	3	$	92	$	578

	Indexed Universal Life Insurance		Other Life Insurance		Life Contingent Payout Annuities		Term and Whole Life Insurance		Disability Income Insurance		Total, All Products
	(in millions)
Balance at January 1, 2026	$	197	$	1	$	13	$	17	$	65	$	2,623
Capitalization of acquisition costs	1		—		1		—		2		99
Amortization	(7)		—		(1)		(1)		(4)		(119)
Balance at June 30, 2026	$	191	$	1	$	13	$	16	$	63	2,603
Other broker-dealer acquisition costs											3
Balance at June 30, 2026 including broker-dealer acquisition costs											$	2,606


	Variable Annuities		Structured Variable Annuities		Fixed Annuities		Fixed Indexed Annuities		Universal Life Insurance		Variable Universal Life Insurance
	(in millions)
Balance at January 1, 2025	$	1,402	$	276	$	28	$	4	$	103	$	553
Capitalization of acquisition costs	23		88		—		—		—		62
Amortization	(112)		(39)		(5)		(1)		(7)		(45)
Balance at December 31, 2025	$	1,313	$	325	$	23	$	3	$	96	$	570

	Indexed Universal Life Insurance		Other Life Insurance		Life Contingent Payout Annuities		Term and Whole Life Insurance		Disability Income Insurance		Total, All Products
	(in millions)
Balance at January 1, 2025	$	210	$	2	$	10	$	17	$	70	$	2,675
Capitalization of acquisition costs	2		—		3		2		3		183
Amortization	(15)		(1)		—		(2)		(8)		(235)
Balance at December 31, 2025	$	197	$	1	$	13	$	17	$	65	2,623
Other broker-dealer acquisition costs											2
Balance at December 31, 2025 including broker-dealer acquisition costs											$	2,625

The following tables summarize the balances of and changes in deferred sales inducement costs (“DSIC”):