2023 Q1 Form 10-K Financial Statement

#000103982823000032 Filed on February 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $662.5M $654.5M $1.416B
YoY Change 348.28% -41.0% -61.63%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.24M $65.68M $615.3M
YoY Change -69.73% -22.31% 129.31%
% of Gross Profit
Operating Expenses $254.0M $339.1M $2.184B
YoY Change -68.74% -57.64% -36.02%
Operating Profit
YoY Change
Interest Expense -$416.8M -$354.0M $2.315B
YoY Change -130.07% 82.09% 607.14%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$191.9M -$38.58M $1.546B
YoY Change -126.6% -133.72% 156.57%
Income Tax -$36.01M -$20.48M $325.2M
% Of Pretax Income 21.03%
Net Earnings -$156.0M -$29.38M $1.221B
YoY Change -127.55% -131.54% 157.59%
Net Earnings / Revenue -23.54% -4.49% 86.26%
Basic Earnings Per Share -$2.00 $13.00
Diluted Earnings Per Share -$2.00 -$0.34 $12.86
COMMON SHARES
Basic Shares Outstanding 84.78M shares 85.70M shares 90.56M shares
Diluted Shares Outstanding 83.42M shares 91.54M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $2.778B $1.920B $1.920B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.657B $1.267B $50.89B
YoY Change -97.14% -97.86% -13.88%
Other Assets $290.6M $220.9M $220.9M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $74.50B $73.93B $73.93B
YoY Change -0.54% -5.65% -5.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $869.3M $870.8M $870.8M
YoY Change 51.19% 51.53% 51.53%
Other Long-Term Liabilities $2.035B $1.657B $1.657B
YoY Change 14.69% -20.36% -20.36%
Total Long-Term Liabilities $2.904B $2.527B $2.527B
YoY Change 23.63% -4.8% -4.8%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $2.904B $2.527B $2.527B
Total Liabilities $71.87B $70.74B $70.76B
YoY Change 3.07% -1.79% -1.76%
SHAREHOLDERS EQUITY
Retained Earnings $4.519B $3.914B
YoY Change 35.99% 41.44%
Common Stock $77.75M $84.81M
YoY Change -18.17% -8.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.605B $3.169B $3.169B
YoY Change
Total Liabilities & Shareholders Equity $74.50B $73.93B $73.93B
YoY Change -0.54% -5.65% -5.65%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$156.0M -$29.38M $1.221B
YoY Change -127.55% -131.54% 157.59%
Depreciation, Depletion And Amortization $68.24M $65.68M $615.3M
YoY Change -69.73% -22.31% 129.31%
Cash From Operating Activities $865.0M $919.1M $2.044B
YoY Change 765.63% -74.44% -51.71%
INVESTING ACTIVITIES
Capital Expenditures $4.192M $6.746M $40.96M
YoY Change 72.94% -321.25% 126.19%
Acquisitions
YoY Change
Other Investing Activities $808.7M -$171.1M -$2.414B
YoY Change -133.09% -97.75% -61.1%
Cash From Investing Activities $804.5M -$177.9M -$2.455B
YoY Change -132.89% -97.67% -60.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $312.6M
YoY Change 230.57%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$811.4M -629.7M -$2.179B
YoY Change 254.65% -84.81% -16.06%
NET CHANGE
Cash From Operating Activities $865.0M 919.1M $2.044B
Cash From Investing Activities $804.5M -177.9M -$2.455B
Cash From Financing Activities -$811.4M -629.7M -$2.179B
Net Change In Cash $858.2M 111.5M -$2.589B
YoY Change -133.33% -101.36% -43.55%
FREE CASH FLOW
Cash From Operating Activities $865.0M $919.1M $2.044B
Capital Expenditures $4.192M $6.746M $40.96M
Free Cash Flow $860.9M $912.3M $2.003B
YoY Change 782.85% -74.65% -52.47%

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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2020 us-gaap Net Income Loss
NetIncomeLoss
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CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2020 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
430317000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Basic
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CY2020 us-gaap Earnings Per Share Basic
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12.86
CY2021 us-gaap Earnings Per Share Diluted
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4.55
CY2020 us-gaap Earnings Per Share Diluted
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6.90
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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WeightedAverageNumberOfDilutedSharesOutstanding
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2020 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2022 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2021 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2020 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2022 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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CY2021 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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CY2020 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
225746000 usd
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OtherComprehensiveIncomeLossNetOfTax
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2022 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2021 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2020 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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1520693000 usd
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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4426522000 usd
CY2020 us-gaap Profit Loss
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CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
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849233000 usd
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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10215000 usd
CY2020 us-gaap Treasury Stock Value Acquired Cost Method
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165094000 usd
CY2020 us-gaap Dividends Preferred Stock Cash
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33515000 usd
CY2020 us-gaap Common Stock Dividends Per Share Declared
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0.32
CY2020 us-gaap Dividends Common Stock Cash
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28859000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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6348988000 usd
CY2021 us-gaap Profit Loss
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473992000 usd
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CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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24601000 usd
CY2021 us-gaap Treasury Stock Value Acquired Cost Method
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99415000 usd
CY2021 us-gaap Dividends Preferred Stock Cash
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43675000 usd
CY2021 us-gaap Common Stock Dividends Per Share Declared
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0.34
CY2021 us-gaap Dividends Common Stock Cash
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31450000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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6323127000 usd
CY2022 us-gaap Profit Loss
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1221302000 usd
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CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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15827000 usd
CY2022 us-gaap Treasury Stock Value Acquired Cost Method
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566567000 usd
CY2022 us-gaap Dividends Preferred Stock Cash
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43675000 usd
CY2022 us-gaap Common Stock Dividends Per Share Declared
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0.36
CY2022 us-gaap Dividends Common Stock Cash
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30567000 usd
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20875000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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3190456000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
1221302000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
473992000 usd
CY2020 us-gaap Profit Loss
ProfitLoss
671460000 usd
CY2022 ael Interest Sensitive And Index Product Benefits
InterestSensitiveAndIndexProductBenefits
889650000 usd
CY2021 ael Interest Sensitive And Index Product Benefits
InterestSensitiveAndIndexProductBenefits
2681406000 usd
CY2020 ael Interest Sensitive And Index Product Benefits
InterestSensitiveAndIndexProductBenefits
1543270000 usd
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408548000 usd
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DeferredSalesInducementsAmortizationExpense
152692000 usd
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DeferredSalesInducementsAmortizationExpense
438164000 usd
CY2022 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
230354000 usd
CY2021 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
242631000 usd
CY2020 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
251227000 usd
CY2022 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
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2352598000 usd
CY2021 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
358302000 usd
CY2020 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
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1286787000 usd
CY2022 us-gaap Increase Decrease In Other Insurance Liabilities
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-26973000 usd
CY2021 us-gaap Increase Decrease In Other Insurance Liabilities
IncreaseDecreaseInOtherInsuranceLiabilities
40090000 usd
CY2020 us-gaap Increase Decrease In Other Insurance Liabilities
IncreaseDecreaseInOtherInsuranceLiabilities
8694000 usd
CY2022 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
198623000 usd
CY2021 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
307857000 usd
CY2020 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
255154000 usd
CY2022 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
615300000 usd
CY2021 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
268328000 usd
CY2020 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
649554000 usd
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OtherDepreciationAndAmortization
14185000 usd
CY2021 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
5527000 usd
CY2020 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
5199000 usd
CY2022 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-2640000 usd
CY2021 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-19861000 usd
CY2020 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-57437000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
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0 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
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0 usd
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-2024000 usd
CY2022 us-gaap Gain Loss On Investments
GainLossOnInvestments
-47848000 usd
CY2021 us-gaap Gain Loss On Investments
GainLossOnInvestments
-13242000 usd
CY2020 us-gaap Gain Loss On Investments
GainLossOnInvestments
-80680000 usd
CY2022 us-gaap Gain Loss On Derivative Instruments Net Pretax
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-1138127000 usd
CY2021 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
1348704000 usd
CY2020 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
34668000 usd
CY2022 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
4090000 usd
CY2021 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
12409000 usd
CY2020 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
1968000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
304946000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
128423000 usd
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DeferredIncomeTaxExpenseBenefit
141071000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
15827000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
24601000 usd
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
10215000 usd
CY2022 us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
52754000 usd
CY2021 us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
47015000 usd
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CY2022 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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111088000 usd
CY2021 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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CY2020 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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30973000 usd
CY2021 us-gaap Increase Decrease In Other Operating Assets
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4464000 usd
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
849000 usd
CY2022 us-gaap Increase Decrease In Other Policyholder Funds
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279936000 usd
CY2021 us-gaap Increase Decrease In Other Policyholder Funds
IncreaseDecreaseInOtherPolicyholderFunds
-19809000 usd
CY2020 us-gaap Increase Decrease In Other Policyholder Funds
IncreaseDecreaseInOtherPolicyholderFunds
-21865000 usd
CY2022 us-gaap Increase Decrease Cash Collateral From Counterparties
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-851971000 usd
CY2021 us-gaap Increase Decrease Cash Collateral From Counterparties
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17423000 usd
CY2020 us-gaap Increase Decrease Cash Collateral From Counterparties
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CY2022 us-gaap Increase Decrease In Cash Collateral For Loaned Securities
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0 usd
CY2021 us-gaap Increase Decrease In Cash Collateral For Loaned Securities
IncreaseDecreaseInCashCollateralForLoanedSecurities
0 usd
CY2020 us-gaap Increase Decrease In Cash Collateral For Loaned Securities
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CY2022 us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
931600000 usd
CY2021 us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
3124740000 usd
CY2020 us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
0 usd
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
24987000 usd
CY2021 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-221726000 usd
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
38995000 usd
CY2022 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
221647000 usd
CY2021 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
13338000 usd
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-804000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2044181000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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4233164000 usd
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1304986000 usd
CY2022 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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CY2021 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
4490736000 usd
CY2020 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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CY2022 us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
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CY2021 us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
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CY2020 us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
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584055000 usd
CY2021 us-gaap Proceeds From Derivative Instrument Investing Activities
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2260959000 usd
CY2020 us-gaap Proceeds From Derivative Instrument Investing Activities
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860520000 usd
CY2022 us-gaap Proceeds From Sale And Maturity Of Other Investments
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739027000 usd
CY2021 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
368837000 usd
CY2020 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
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CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
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9206733000 usd
CY2020 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
2429114000 usd
CY2022 us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
3092385000 usd
CY2021 us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
2386712000 usd
CY2020 us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
1121756000 usd
CY2022 us-gaap Payments To Acquire Real Estate Held For Investment
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724484000 usd
CY2021 us-gaap Payments To Acquire Real Estate Held For Investment
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335767000 usd
CY2020 us-gaap Payments To Acquire Real Estate Held For Investment
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CY2021 us-gaap Payments For Derivative Instrument Investing Activities
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CY2020 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
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CY2022 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
1842843000 usd
CY2021 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
1512123000 usd
CY2020 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
105925000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40961000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18109000 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13240000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
5134604000 usd
CY2022 us-gaap Proceeds From Annuities And Investment Certificates
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3316221000 usd
CY2021 us-gaap Proceeds From Annuities And Investment Certificates
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5910024000 usd
CY2020 us-gaap Proceeds From Annuities And Investment Certificates
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3648936000 usd
CY2022 us-gaap Increase Decrease In Reinsurance Recoverable
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186637000 usd
CY2021 us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
3187332000 usd
CY2020 us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
-430644000 usd
CY2022 us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
5257487000 usd
CY2021 us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
5145193000 usd
CY2020 us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
4040054000 usd
CY2022 us-gaap Repayments Of Other Long Term Debt
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3750000 usd
CY2021 us-gaap Repayments Of Other Long Term Debt
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0 usd
CY2020 us-gaap Repayments Of Other Long Term Debt
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CY2022 us-gaap Proceeds From Issuance Of Unsecured Debt
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300000000 usd
CY2021 us-gaap Proceeds From Issuance Of Unsecured Debt
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CY2020 us-gaap Proceeds From Issuance Of Unsecured Debt
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CY2022 us-gaap Repayments Of Subordinated Debt
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CY2021 us-gaap Repayments Of Subordinated Debt
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CY2020 us-gaap Repayments Of Subordinated Debt
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81450000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
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253978000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4854000 usd
CY2020 us-gaap Proceeds From Issuance Of Common Stock
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338061000 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
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566567000 usd
CY2021 us-gaap Payments For Repurchase Of Common Stock
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99415000 usd
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
165094000 usd
CY2022 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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0 usd
CY2021 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 usd
CY2020 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
290260000 usd
CY2022 us-gaap Increase Decrease In Outstanding Checks Financing Activities
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39901000 usd
CY2021 us-gaap Increase Decrease In Outstanding Checks Financing Activities
IncreaseDecreaseInOutstandingChecksFinancingActivities
-3210000 usd
CY2020 us-gaap Increase Decrease In Outstanding Checks Financing Activities
IncreaseDecreaseInOutstandingChecksFinancingActivities
3611000 usd
CY2022 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
30567000 usd
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
31450000 usd
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
28859000 usd
CY2022 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
43675000 usd
CY2021 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
43675000 usd
CY2020 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
33515000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2178583000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2595397000 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
362540000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2589313000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-4586540000 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
6802130000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4508982000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9095522000 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2293392000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1919669000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4508982000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9095522000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
36289000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
30000000 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
31427000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4873000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
165537000 usd
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4842000 usd
CY2022 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
98644000 usd
CY2021 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
0 usd
CY2020 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
0 usd
CY2022 us-gaap Deferred Sales Inducements Additions
DeferredSalesInducementsAdditions
107691000 usd
CY2021 us-gaap Deferred Sales Inducements Additions
DeferredSalesInducementsAdditions
95160000 usd
CY2020 us-gaap Deferred Sales Inducements Additions
DeferredSalesInducementsAdditions
93610000 usd
CY2022Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
50 states
CY2021 ael Premiums And Annuity Deposits
PremiumsAndAnnuityDeposits
5545021000 usd
CY2022 ael Fixed Index Annuities
FixedIndexAnnuities
2202688000 usd
CY2021 ael Fixed Index Annuities
FixedIndexAnnuities
3026211000 usd
CY2020 ael Fixed Index Annuities
FixedIndexAnnuities
2309580000 usd
CY2022 ael Fixed Rate Annuities Annual Reset
FixedRateAnnuitiesAnnualReset
5535000 usd
CY2021 ael Fixed Rate Annuities Annual Reset
FixedRateAnnuitiesAnnualReset
6000000 usd
CY2020 ael Fixed Rate Annuities Annual Reset
FixedRateAnnuitiesAnnualReset
7846000 usd
CY2022 ael Fixed Rate Annuities Multi Year
FixedRateAnnuitiesMultiYear
139092000 usd
CY2021 ael Fixed Rate Annuities Multi Year
FixedRateAnnuitiesMultiYear
2452994000 usd
CY2020 ael Fixed Rate Annuities Multi Year
FixedRateAnnuitiesMultiYear
1295843000 usd
CY2022 ael Single Premium Immediate Annuities Spias
SinglePremiumImmediateAnnuitiesSpias
18935000 usd
CY2021 ael Single Premium Immediate Annuities Spias
SinglePremiumImmediateAnnuitiesSpias
59816000 usd
CY2020 ael Single Premium Immediate Annuities Spias
SinglePremiumImmediateAnnuitiesSpias
33461000 usd
CY2022 ael Premiums And Annuity Deposits
PremiumsAndAnnuityDeposits
2366250000 usd
CY2020 ael Premiums And Annuity Deposits
PremiumsAndAnnuityDeposits
3646730000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Estimates and Assumptions</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions are utilized in the calculation of deferred policy acquisition costs, deferred sales inducements, policy benefit reserves, including the liability for lifetime income benefit riders and the fair value of embedded derivatives in fixed index annuity contracts, valuation of derivatives, valuation of investments, valuation of real estate, allowances for credit losses on available-for-sale fixed maturity securities, allowances for loan losses on mortgage loans and valuation allowances on deferred tax assets. A description of each critical estimate is incorporated within the discussion of the related accounting policies which follow. It is reasonably possible that actual experience could differ from the estimates and assumptions utilized.</span></div>
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Certain amounts in the prior years' consolidated financial statements and related footnotes thereto have been reclassified to conform with the current year presentation.</span></div>
CY2022Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0240
CY2021Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0210
CY2020Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0210
CY2019Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0290
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
44866019000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
225792000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5283847000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
3347000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
39804617000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
46999183000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4421976000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
112370000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
2846000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
51305943000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1184147000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1180124000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
5641072000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
5406059000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
6254569000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
5672730000 usd
CY2022Q4 ael Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter Ten Yearsthrough Twenty Years Amortized Cost
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterTenYearsthroughTwentyYearsAmortizedCost
9853998000 usd
CY2022Q4 ael Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter Ten Years Through Twenty Years Fair Value
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterTenYearsThroughTwentyYearsFairValue
8817815000 usd
CY2022Q4 ael Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter Twenty Years Amortized Cost
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterTwentyYearsAmortizedCost
10051313000 usd
CY2022Q4 ael Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter Twenty Years Fair Value
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterTwentyYearsFairValue
7754098000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
32985099000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
28830826000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
44866019000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
39804617000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-5065422000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
4309606000 usd
CY2022Q4 ael Other Comprehensive Income Loss Adjustments For Assumed Changes In Amortization Of Deferred Policy Acquisition Costs Deferred Sales Inducements And Policy Benefit Reserves
OtherComprehensiveIncomeLossAdjustmentsForAssumedChangesInAmortizationOfDeferredPolicyAcquisitionCostsDeferredSalesInducementsAndPolicyBenefitReserves
-2309357000 usd
CY2021Q4 ael Other Comprehensive Income Loss Adjustments For Assumed Changes In Amortization Of Deferred Policy Acquisition Costs Deferred Sales Inducements And Policy Benefit Reserves
OtherComprehensiveIncomeLossAdjustmentsForAssumedChangesInAmortizationOfDeferredPolicyAcquisitionCostsDeferredSalesInducementsAndPolicyBenefitReserves
1993869000 usd
CY2022Q4 ael Other Comprehensive Income Valuation Allowance Deferred Tax Asset Reversal
OtherComprehensiveIncomeValuationAllowanceDeferredTaxAssetReversal
22534000 usd
CY2021Q4 ael Other Comprehensive Income Valuation Allowance Deferred Tax Asset Reversal
OtherComprehensiveIncomeValuationAllowanceDeferredTaxAssetReversal
22534000 usd
CY2022Q4 ael Accumulated Other Comprehensive Income Loss Availableforsale Securities Deferred Income Tax Expense Benefit
AccumulatedOtherComprehensiveIncomeLossAvailableforsaleSecuritiesDeferredIncomeTaxExpenseBenefit
-578476000 usd
CY2021Q4 ael Accumulated Other Comprehensive Income Loss Availableforsale Securities Deferred Income Tax Expense Benefit
AccumulatedOtherComprehensiveIncomeLossAvailableforsaleSecuritiesDeferredIncomeTaxExpenseBenefit
489482000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2155055000 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
1848789000 usd
CY2022Q4 ael Debt Securities Available For Sale Percent Investment Grade
DebtSecuritiesAvailableForSalePercentInvestmentGrade
0.98
CY2021Q4 ael Debt Securities Available For Sale Percent Investment Grade
DebtSecuritiesAvailableForSalePercentInvestmentGrade
0.98
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
44866019000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
39804617000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
46999183000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
51305943000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
4510 securities
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
1427 securities
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
28557796000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
4403539000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
4221422000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
880308000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
32779218000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
5283847000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
5735135000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
51758000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
2072853000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
63458000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
7807988000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
115216000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
3300000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
2800000 usd
CY2022Q4 ael Debt Securities Available For Sale Unrealized Loss Position Percent Investment Grade
DebtSecuritiesAvailableForSaleUnrealizedLossPositionPercentInvestmentGrade
0.98
CY2021Q4 ael Debt Securities Available For Sale Unrealized Loss Position Percent Investment Grade
DebtSecuritiesAvailableForSaleUnrealizedLossPositionPercentInvestmentGrade
0.85
CY2022 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-9375028000 usd
CY2021 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-987434000 usd
CY2020 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
1955496000 usd
CY2022 ael Adjustments For Assumed Changes In Amortization Of Deferred Policy Acquisition Costs Deferred Sales Inducements And Policy Benefit Reserves
AdjustmentsForAssumedChangesInAmortizationOfDeferredPolicyAcquisitionCostsDeferredSalesInducementsAndPolicyBenefitReserves
4303226000 usd
CY2021 ael Adjustments For Assumed Changes In Amortization Of Deferred Policy Acquisition Costs Deferred Sales Inducements And Policy Benefit Reserves
AdjustmentsForAssumedChangesInAmortizationOfDeferredPolicyAcquisitionCostsDeferredSalesInducementsAndPolicyBenefitReserves
542382000 usd
CY2020 ael Adjustments For Assumed Changes In Amortization Of Deferred Policy Acquisition Costs Deferred Sales Inducements And Policy Benefit Reserves
AdjustmentsForAssumedChangesInAmortizationOfDeferredPolicyAcquisitionCostsDeferredSalesInducementsAndPolicyBenefitReserves
-880517000 usd
CY2022 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-1067958000 usd
CY2021 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-90284000 usd
CY2020 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
225746000 usd
CY2022 ael Changes In Net Unrealized Gains Losses Adjustments For Effect On Other Balance Sheet Accounts
ChangesInNetUnrealizedGainsLossesAdjustmentsForEffectOnOtherBalanceSheetAccounts
5371184000 usd
CY2021 ael Changes In Net Unrealized Gains Losses Adjustments For Effect On Other Balance Sheet Accounts
ChangesInNetUnrealizedGainsLossesAdjustmentsForEffectOnOtherBalanceSheetAccounts
632666000 usd
CY2022Q4 us-gaap Assets Held By Insurance Regulators
AssetsHeldByInsuranceRegulators
51000000000 usd
CY2020 ael Changes In Net Unrealized Gains Losses Adjustments For Effect On Other Balance Sheet Accounts
ChangesInNetUnrealizedGainsLossesAdjustmentsForEffectOnOtherBalanceSheetAccounts
-1106263000 usd
CY2022 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-4003844000 usd
CY2021 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-354768000 usd
CY2020 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
849233000 usd
CY2022 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
2453929000 usd
CY2021 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
2101892000 usd
CY2020 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
2214550000 usd
CY2022 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
146466000 usd
CY2021 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
64417000 usd
CY2020 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
32472000 usd
CY2022 us-gaap Net Investment Income
NetInvestmentIncome
2307463000 usd
CY2021 us-gaap Net Investment Income
NetInvestmentIncome
2037475000 usd
CY2020 us-gaap Net Investment Income
NetInvestmentIncome
2182078000 usd
CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
7800000000 usd
CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
800000000 usd
CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
5400000000 usd
CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2800000000 usd
CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
3700000000 usd
CY2020 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2900000000 usd
CY2022 us-gaap Gain Loss On Investments
GainLossOnInvestments
-47848000 usd
CY2021 us-gaap Gain Loss On Investments
GainLossOnInvestments
-13242000 usd
CY2020 us-gaap Gain Loss On Investments
GainLossOnInvestments
-80680000 usd
CY2022Q4 ael Non Income Producing Investments
NonIncomeProducingInvestments
12191000 usd
CY2021Q4 ael Non Income Producing Investments
NonIncomeProducingInvestments
4118000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
2846000 usd
CY2022 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossNotPreviouslyRecorded
4895000 usd
CY2022 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
-3966000 usd
CY2022 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Sell Before Recovery
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossSellBeforeRecovery
0 usd
CY2022 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossSecuritiesSold
428000 usd
CY2022 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Writeoff
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossWriteoff
0 usd
CY2022 ael Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Recoveries Of Amounts Previously Written Off
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossRecoveriesOfAmountsPreviouslyWrittenOff
0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
3347000 usd
CY2020Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
64771000 usd
CY2021 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossNotPreviouslyRecorded
1112000 usd
CY2021 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
-482000 usd
CY2021 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Sell Before Recovery
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossSellBeforeRecovery
209000 usd
CY2021 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossSecuritiesSold
50758000 usd
CY2021 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Writeoff
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossWriteoff
10032000 usd
CY2021 ael Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Recoveries Of Amounts Previously Written Off
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossRecoveriesOfAmountsPreviouslyWrittenOff
1556000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
2846000 usd
CY2022 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
15126000 usd
CY2021Q4 us-gaap Assets Held By Insurance Regulators
AssetsHeldByInsuranceRegulators
49300000000 usd
CY2022Q4 us-gaap Fair Value Concentration Of Risk Investments
FairValueConcentrationOfRiskInvestments
0 usd
CY2021Q4 us-gaap Fair Value Concentration Of Risk Investments
FairValueConcentrationOfRiskInvestments
0 usd
CY2022Q4 ael Financing Receivable Numberof Portfolio Segments
FinancingReceivableNumberofPortfolioSegments
3 portfolio_segment
CY2022Q4 us-gaap Financing Receivable Loan In Process
FinancingReceivableLoanInProcess
420200000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
6949027000 usd
CY2021Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
5687998000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
24024000 usd
CY2022 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
501000 usd
CY2022 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
1677000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
36972000 usd
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
31029000 usd
CY2021 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
0 usd
CY2021 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
0 usd
CY2021 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
-7005000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
24024000 usd
CY2021Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
0 usd
CY2022Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
0 usd
CY2022Q4 ael Financing Receivable Nonaccrual Number Of Loans
FinancingReceivableNonaccrualNumberOfLoans
59 loans
CY2021Q4 ael Financing Receivable Nonaccrual Number Of Loans
FinancingReceivableNonaccrualNumberOfLoans
13 loans
CY2022 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
670000 usd
CY2021 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
36000 usd
CY2020 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
0 usd
CY2022 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0 loans
CY2021 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0 loans
CY2022Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
400000000 usd
CY2021Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
1300000000 usd
CY2022 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
3300000 usd
CY2021 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
8500000 usd
CY2022 us-gaap Deferred Policy Acquisition Costs Text Block1
DeferredPolicyAcquisitionCostsTextBlock1
Deferred Policy Acquisition Costs, Deferred Sales Inducements and Liability for Lifetime Income Benefit Riders<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Policy acquisition costs deferred and amortized are as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:56.462%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.558%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Dollars in thousands)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at beginning of year</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,222,769 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,225,199 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,033,649 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Costs deferred during the year:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commissions</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">194,856 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">303,192 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251,428 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Policy issue costs</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,767 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,665 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,725 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(558,447)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(313,990)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,769)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impact of unlocking</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(56,853)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45,662 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(646,785)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effect of net unrealized gains/losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,944,039 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">299,478 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(414,049)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Write-off related to in-force ceded reinsurance</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(188,056)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(341,437)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at end of year</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,562,075 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,222,769 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,225,199 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Sales inducements deferred and amortized are as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:56.462%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.558%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Dollars in thousands)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at beginning of year</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,546,073 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,448,375 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,042,060 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Costs deferred during the year</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107,691 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95,160 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93,610 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(362,866)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(197,799)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,063)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impact of unlocking</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45,682)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45,107 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(428,101)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effect of net unrealized gains/losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,348,134 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155,230 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(249,131)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at end of year</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,593,350 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,546,073 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,448,375 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table presents a rollforward of the liability for lifetime income benefit riders (net of coinsurance ceded):</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:56.462%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.558%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Dollars in thousands)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at beginning of year</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,794,629 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,485,123 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,670,750 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefit expense accrual</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">387,821 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">206,180 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">311,211 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impact of unlocking</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(53,042)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">243,658 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">285,825 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effect of net unrealized gains/losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(996,876)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(101,848)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217,337 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reduction related to in-force ceded reinsurance</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(403,406)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38,484)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Claim payments</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at end of year</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,729,126 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,794,629 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,485,123 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We periodically update the key assumptions used in the calculation of amortization of deferred policy acquisition costs and deferred sales inducements retrospectively through an unlocking process when estimates of current or future gross profits/margins (including the impact of realized investment gains and losses) to be realized from a group of products are revised. In addition, we periodically update the assumptions used in determining the liability for lifetime income benefit riders.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We review these assumptions quarterly and as a result of these reviews, we made updates to assumptions in 2022, 2021 and 2020. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During 2022 and 2021, American Equity Life entered into reinsurance agreements which ceded in-force fixed index annuity product liabilities. As a result, there was a write-off of deferred acquisition costs and a reduction of the liability for lifetime income benefit riders associated with the blocks of in-force liabilities ceded under the agreements. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Note 8 - Reinsurance and Policy Provisions</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> for further discussion of these reinsurance agreements. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">2022 Assumption Updates</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The most significant assumption updates made in 2022 were to investment spread assumptions, including the net investment earned rate and crediting rate on policies, lapse rate and partial withdrawal assumptions, and lifetime income benefit rider utilization assumptions.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We updated our assumption for investment spread for American Equity Life to remain steady at 2.60% through an <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmU0M2U3OGEyZmNmNDRjNjA5NTA2MzlmNzQ5MjVkMjBjL3NlYzplNDNlNzhhMmZjZjQ0YzYwOTUwNjM5Zjc0OTI1ZDIwY18xMzYvZnJhZzo4NGQ1NjVmMjcyNmU0ZmY0YTU0ZDAzZTQ0NjljZjM5Mi90ZXh0cmVnaW9uOjg0ZDU2NWYyNzI2ZTRmZjRhNTRkMDNlNDQ2OWNmMzkyXzE2NDkyNjc0NzgzMjE_11645fdf-2020-428f-8606-0d4f2b94eba6">eight</span>-year reversion period. We increased our long-term net investment earned rate assumption by 40 basis points with an assumption of 4.25% in the near term increasing to 5.00% over the <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmU0M2U3OGEyZmNmNDRjNjA5NTA2MzlmNzQ5MjVkMjBjL3NlYzplNDNlNzhhMmZjZjQ0YzYwOTUwNjM5Zjc0OTI1ZDIwY18xMzYvZnJhZzo4NGQ1NjVmMjcyNmU0ZmY0YTU0ZDAzZTQ0NjljZjM5Mi90ZXh0cmVnaW9uOjg0ZDU2NWYyNzI2ZTRmZjRhNTRkMDNlNDQ2OWNmMzkyXzE2NDkyNjc0NzgzNDk_11645fdf-2020-428f-8606-0d4f2b94eba6">eight</span>-year reversion period, and we increased our long-term crediting/discount rate assumption by 30 basis points with an assumption of 1.65% in the near term increasing to 2.40% over the <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmU0M2U3OGEyZmNmNDRjNjA5NTA2MzlmNzQ5MjVkMjBjL3NlYzplNDNlNzhhMmZjZjQ0YzYwOTUwNjM5Zjc0OTI1ZDIwY18xMzYvZnJhZzo4NGQ1NjVmMjcyNmU0ZmY0YTU0ZDAzZTQ0NjljZjM5Mi90ZXh0cmVnaW9uOjg0ZDU2NWYyNzI2ZTRmZjRhNTRkMDNlNDQ2OWNmMzkyXzE2NDkyNjc0NzgzNjI_11645fdf-2020-428f-8606-0d4f2b94eba6">eight</span>-year reversion period. In addition, we adjusted the grading of the discount rate assumption in the embedded derivative calculation. This change results in an increase in expected future gross profits and therefore a slight increase in the deferred policy acquisition costs and deferred sales inducements balances. This also results in a decrease in the liability for lifetime income benefit riders due to a higher discount rate.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We updated lapse rate and partial withdrawal assumptions based on actual historical experience. We refreshed lapse tables based on 5 years of lapse experience and implemented a 1% lapse floor. For policies with a lifetime income benefit rider that does not charge a fee, we increased the lapse rates. For policies with a lifetime income benefit rider that has been utilized, we decreased the lapse rates. We expanded our partial withdrawal assumptions to include scalars in our assumptions during the surrender charge period, shock period, and post-shock period. This resulted in partial withdrawals extending beyond the surrender charge period. The net impact of the lapse rate and partial withdrawal assumptions resulted in a decrease in expected future gross profits and a decrease in the deferred policy acquisition costs and deferred sales inducements balances. The net impact of these changes resulted in an increase in the liability for lifetime income benefit riders due to higher excess claims and lower gross profits.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We updated our lifetime income benefit rider utilization assumption structure to capture policyholder characteristics at a more granular level. This resulted in an increase in the number of policies utilizing and increased the excess claims. The impact of this change results in an increase in the liability for lifetime income benefit riders and an increase in the deferred policy acquisition costs and deferred sales inducements balances.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">2021 Assumption Updates</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The most significant assumption updates made in 2021 were to investment spread assumptions, including the net investment earned rate and crediting rate on policies, lifetime income benefit rider utilization assumptions, mortality assumptions, and lapse rate assumptions as discussed below. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Due to the continued low interest rate environment, we updated our assumption for investment spread for American Equity Life to 2.25% in the near term and increasing to 2.50% over an <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmU0M2U3OGEyZmNmNDRjNjA5NTA2MzlmNzQ5MjVkMjBjL3NlYzplNDNlNzhhMmZjZjQ0YzYwOTUwNjM5Zjc0OTI1ZDIwY18xMzYvZnJhZzo4NGQ1NjVmMjcyNmU0ZmY0YTU0ZDAzZTQ0NjljZjM5Mi90ZXh0cmVnaW9uOjg0ZDU2NWYyNzI2ZTRmZjRhNTRkMDNlNDQ2OWNmMzkyXzE2NDkyNjc0NzgxMDY_2ac14433-0f39-4930-8706-134c690d873f">eight</span>-year reversion period and our assumption for crediting/discount rate to 1.55% increasing to 2.10% over an <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmU0M2U3OGEyZmNmNDRjNjA5NTA2MzlmNzQ5MjVkMjBjL3NlYzplNDNlNzhhMmZjZjQ0YzYwOTUwNjM5Zjc0OTI1ZDIwY18xMzYvZnJhZzo4NGQ1NjVmMjcyNmU0ZmY0YTU0ZDAzZTQ0NjljZjM5Mi90ZXh0cmVnaW9uOjg0ZDU2NWYyNzI2ZTRmZjRhNTRkMDNlNDQ2OWNmMzkyXzE2NDkyNjc0NzgzNDE_2ac14433-0f39-4930-8706-134c690d873f">eight</span>-year reversion period. Prior to these assumption updates, our long-term assumption for aggregate investment spread was at 2.60% at then end of an <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmU0M2U3OGEyZmNmNDRjNjA5NTA2MzlmNzQ5MjVkMjBjL3NlYzplNDNlNzhhMmZjZjQ0YzYwOTUwNjM5Zjc0OTI1ZDIwY18xMzYvZnJhZzo4NGQ1NjVmMjcyNmU0ZmY0YTU0ZDAzZTQ0NjljZjM5Mi90ZXh0cmVnaW9uOjg0ZDU2NWYyNzI2ZTRmZjRhNTRkMDNlNDQ2OWNmMzkyXzE2NDkyNjc0NzgyNzQ_faca372b-762d-4662-bdf8-019c0fc95cb4">eight</span>-year reversion period, with a near term crediting/discount rate of 1.60% increasing to 2.10% over an <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmU0M2U3OGEyZmNmNDRjNjA5NTA2MzlmNzQ5MjVkMjBjL3NlYzplNDNlNzhhMmZjZjQ0YzYwOTUwNjM5Zjc0OTI1ZDIwY18xMzYvZnJhZzo4NGQ1NjVmMjcyNmU0ZmY0YTU0ZDAzZTQ0NjljZjM5Mi90ZXh0cmVnaW9uOjg0ZDU2NWYyNzI2ZTRmZjRhNTRkMDNlNDQ2OWNmMzkyXzE2NDkyNjc0NzgzMDQ_aa0098c5-6c6e-4b12-bbab-d10cb5bf4bc3">eight</span>-year reversion period. The assumption change to decrease aggregate investment spread resulted in lower expected future gross profits as compared to previous estimates and a decrease in the balances of deferred policy acquisition costs and deferred sales inducements. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We updated lapse rate and mortality assumptions based on historical experience. For certain annuity products without a lifetime income benefit rider, the lapse rate assumption was increased in more recent cohorts to reflect higher lapses on polices with a market value adjustment ("MVA") feature. For other annuity products with a lifetime income benefit rider, the population was bifurcated based on whether policies had utilized the rider. For those policies which had utilized the rider, the lapse rate assumption was decreased in later durations. The overall mortality assumption was lowered to reflect historical experience. The net impact of the updates to the lapse rate and mortality assumptions resulted in higher expected future gross profits as compared to previous estimates and an increase in the balances of deferred policy acquisition costs and deferred sales inducements. The net impact of the updates to lapse rate and mortality assumptions resulted in an increase in the liability for lifetime income benefit riders due to a greater amount of expected benefit payments in excess of account values. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We updated the lifetime income benefit rider utilization assumption based on historical experience. The ultimate utilization assumption was lowered for policies with a fee rider and certain policies with a no-fee rider. In addition, the utilization assumption was changed to reflect seasonality with higher utilization rates during the first quarter of each year. The net impact of the updates to the utilization assumption resulted in a decrease in the liability for lifetime income benefit riders due to a lower amount of expected benefits payments due to lower expected utilization. The net impact of the updates to the utilization assumption resulted in higher expected future gross profits as compared to previous estimates and an increase in the balances of deferred policy acquisition costs and deferred sales inducements.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">2020 Assumption Updates</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The most significant assumption updates made in 2020 were to investment spread assumptions, including the net investment earned rate and crediting rates on policies, as well as updates to lapse rate and partial withdrawal assumptions.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Due to the economic and low interest rate environments, we updated our assumption for aggregate investment spread to 2.40% in the near-term increasing to 2.60% over an <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmU0M2U3OGEyZmNmNDRjNjA5NTA2MzlmNzQ5MjVkMjBjL3NlYzplNDNlNzhhMmZjZjQ0YzYwOTUwNjM5Zjc0OTI1ZDIwY18xMzYvZnJhZzo4NGQ1NjVmMjcyNmU0ZmY0YTU0ZDAzZTQ0NjljZjM5Mi90ZXh0cmVnaW9uOjg0ZDU2NWYyNzI2ZTRmZjRhNTRkMDNlNDQ2OWNmMzkyXzE2NDkyNjc0NzgyODk_faca372b-762d-4662-bdf8-019c0fc95cb4">eight</span>-year reversion period and our assumption for crediting/discount rate to 1.60% increasing to 2.10% over an <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmU0M2U3OGEyZmNmNDRjNjA5NTA2MzlmNzQ5MjVkMjBjL3NlYzplNDNlNzhhMmZjZjQ0YzYwOTUwNjM5Zjc0OTI1ZDIwY18xMzYvZnJhZzo4NGQ1NjVmMjcyNmU0ZmY0YTU0ZDAzZTQ0NjljZjM5Mi90ZXh0cmVnaW9uOjg0ZDU2NWYyNzI2ZTRmZjRhNTRkMDNlNDQ2OWNmMzkyXzUyMjA_6aa8e3cd-f0f0-4a85-89b7-98285b4c1472">eight</span>-year reversion period. Prior to these assumption updates, our long-term assumption for aggregate investment spread was steady </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">at 2.60%, with a near term crediting/discount rate of 1.90% increasing to 2.90% over a 20 year reversion period. The assumption update to decrease aggregate investment spread resulted in lower expected future gross profits as compared to previous estimates and a decrease in the balances of deferred policy acquisition costs and deferred sales inducements. The decrease in the crediting rate, which is used as the discount rate in the calculation of the liability for lifetime income benefit riders, resulted in an increase in the liability for lifetime income benefit riders. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We updated lapse rate and partial withdrawal assumptions based on actual historical experience. For certain annuity products without a lifetime income benefit rider, lapse rate and partial withdrawal assumptions were increased while for certain annuity products with a lifetime income benefit rider, lapse rate and partial withdrawal assumptions were decreased. The net impact of the updates to lapse rate and partial withdrawal assumptions resulted in lower expected future gross profits as compared to previous estimates and a decrease in the balances of deferred policy acquisition costs and deferred sales inducements. The net impact of the updates to lapse rate and partial withdrawal assumptions resulted in an increase in the liability for lifetime income benefit riders due to a greater amount of expected benefit payments in excess of account values.</span></div>
CY2021Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
2222769000 usd
CY2020Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
2225199000 usd
CY2019Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
3033649000 usd
CY2022 ael Deferred Policy Acquisitions Costs Commissions Deferred
DeferredPolicyAcquisitionsCostsCommissionsDeferred
194856000 usd
CY2021 ael Deferred Policy Acquisitions Costs Commissions Deferred
DeferredPolicyAcquisitionsCostsCommissionsDeferred
303192000 usd
CY2020 ael Deferred Policy Acquisitions Costs Commissions Deferred
DeferredPolicyAcquisitionsCostsCommissionsDeferred
251428000 usd
CY2022 ael Deferred Policy Acquisition Costs Policy Issue Costs Deferred
DeferredPolicyAcquisitionCostsPolicyIssueCostsDeferred
3767000 usd
CY2021 ael Deferred Policy Acquisition Costs Policy Issue Costs Deferred
DeferredPolicyAcquisitionCostsPolicyIssueCostsDeferred
4665000 usd
CY2020 ael Deferred Policy Acquisition Costs Policy Issue Costs Deferred
DeferredPolicyAcquisitionCostsPolicyIssueCostsDeferred
3725000 usd
CY2022 us-gaap Deferred Policy Acquisition Costs Amortization Expense Accrued Interest
DeferredPolicyAcquisitionCostsAmortizationExpenseAccruedInterest
558447000 usd
CY2021 us-gaap Deferred Policy Acquisition Costs Amortization Expense Accrued Interest
DeferredPolicyAcquisitionCostsAmortizationExpenseAccruedInterest
313990000 usd
CY2020 us-gaap Deferred Policy Acquisition Costs Amortization Expense Accrued Interest
DeferredPolicyAcquisitionCostsAmortizationExpenseAccruedInterest
2769000 usd
CY2022 us-gaap Deferred Policy Acquisition Cost Amortization Expense Assumption Change
DeferredPolicyAcquisitionCostAmortizationExpenseAssumptionChange
56853000 usd
CY2021 us-gaap Deferred Policy Acquisition Cost Amortization Expense Assumption Change
DeferredPolicyAcquisitionCostAmortizationExpenseAssumptionChange
-45662000 usd
CY2020 us-gaap Deferred Policy Acquisition Cost Amortization Expense Assumption Change
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CY2021Q4 us-gaap Treasury Stock Carrying Basis
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