Deferred Acquisition Costs and Deferred Sales Inducement Costs

3 Months Ended

Mar. 31, 2025

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


	Variable Annuities		Structured Variable Annuities		Fixed Annuities		Fixed Indexed Annuities		Universal Life Insurance		Variable Universal Life Insurance
	(in millions)
Balance at January 1, 2025	$	1,388	$	276	$	28	$	4	$	103	$	553
Capitalization of acquisition costs	6		19		—		—		—		15
Amortization	(28)		(9)		(2)		—		(2)		(11)
Balance at March 31, 2025	$	1,366	$	286	$	26	$	4	$	101	$	557

	Indexed Universal Life Insurance		Other Life Insurance		Life Contingent Payout Annuities		Term and Whole Life Insurance		Disability Income Insurance		Total, All Products
	(in millions)
Balance at January 1, 2025	$	210	$	2	$	10	$	17	$	70	$	2,661
Capitalization of acquisition costs	1		—		1		1		—		43
Amortization	(4)		—		—		(1)		(2)		(59)
Balance at March 31, 2025	$	207	$	2	$	11	$	17	$	68	$	2,645


	Variable Annuities		Structured Variable Annuities		Fixed Annuities		Fixed Indexed Annuities		Universal Life Insurance		Variable Universal Life Insurance
	(in millions)
Balance at January 1, 2024	$	1,481	$	208	$	35	$	5	$	110	$	534
Capitalization of acquisition costs	24		98		—		—		—		64
Amortization	(117)		(30)		(7)		(1)		(7)		(45)
Balance at December 31, 2024	$	1,388	$	276	$	28	$	4	$	103	$	553

	Indexed Universal Life Insurance		Other Life Insurance		Life Contingent Payout Annuities		Term and Whole Life Insurance		Disability Income Insurance		Total, All Products
	(in millions)
Balance at January 1, 2024	$	223	$	2	$	6	$	17	$	75	$	2,696
Capitalization of acquisition costs	3		—		5		2		3		199
Amortization	(16)		—		(1)		(2)		(8)		(234)
Balance at December 31, 2024	$	210	$	2	$	10	$	17	$	70	$	2,661

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

RIVERSOURCE LIFE INSURANCE CO 10-Q