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v3.23.1

Fair Value Measurements - Quantitative Information for Level 3 Measurements (Details) $ in Millions | Mar. 31, 2023 USD ($) item | Dec. 31, 2022 USD ($) item
--- | --- | ---
Investment and universal life contracts | Lapse rate |  |
Unobservable inputs |  |
Embedded derivative, Input |  | 0.000
Investment and universal life contracts | Lapse rate | Weighted average input |  |
Unobservable inputs |  |
Embedded derivative, Input |  | 0.000
Recurring Fair Value Measurements |  |
Unobservable inputs |  |
Assets measured at fair value | $ | $ 234,370.9 | $ 225,470.3
Liabilities measured at fair value | $ | 2,266.9 | 2,764.4
Recurring Fair Value Measurements | Fair value hierarchy Level 3 |  |
Unobservable inputs |  |
Assets measured at fair value | $ | 3,922.7 | 3,447.3
Liabilities measured at fair value | $ | 2,775.3 | 3,394.9
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts |  |
Unobservable inputs |  |
Liabilities measured at fair value | $ | $ (55.5) | $ (46.4)
Embedded derivative, Valuation technique | Discounted cash flow | Discounted cash flow
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Long duration interest rate | Minimum |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.023 | 0.024
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Long duration interest rate | Maximum |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.046 | 0.047
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Long duration interest rate | Weighted average input |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.033 | 0.031
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Long-term equity market volatility | Minimum |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.151 | 0.178
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Long-term equity market volatility | Maximum |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.254 | 0.369
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Long-term equity market volatility | Weighted average input |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.192 | 0.220
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Non-performance risk |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.009 | 0.009
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Non-performance risk | Weighted average input |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.009 | 0.009
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Lapse rate |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.000 |
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Investment and universal life contracts | Discounted cash flow | Lapse rate | Weighted average input |  |
Unobservable inputs |  |
Embedded derivative, Input | 0.000 |
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Fixed maturities | Trading |  |
Unobservable inputs |  |
Assets measured at fair value | $ | $ 128.6 | $ 119.7
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Fixed maturities | Trading | Discounted cash flow | Discount rate | Minimum |  |
Unobservable inputs |  |
Fixed maturities, trading, Input | 0.100 | 0.096
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Fixed maturities | Trading | Discounted cash flow | Discount rate | Maximum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input |  | 0.152
Fixed maturities, trading, Input | 0.166 |
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Fixed maturities | Trading | Discounted cash flow | Discount rate | Weighted average input |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input |  | 0.110
Fixed maturities, trading, Input | 0.123 |
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale |  |
Unobservable inputs |  |
Assets measured at fair value | $ | $ 1,569.7 | $ 1,479.9
Fixed maturities, available-for-sale, Valuation technique | Discounted cash flow | Discounted cash flow
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discounted cash flow | Discount rate | Minimum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.050 | 0.027
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discounted cash flow | Discount rate | Maximum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.249 | 0.331
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discounted cash flow | Discount rate | Weighted average input |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.120 | 0.110
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discounted cash flow | Illiquidity premium | Minimum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0 | 0
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discounted cash flow | Illiquidity premium | Maximum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.0480 | 0.0467
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discounted cash flow | Illiquidity premium | Weighted average input |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.0080 | 0.0050
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discounted cash flow | Comparability adjustment | Minimum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input |  | (0.0016)
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discounted cash flow | Comparability adjustment | Maximum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | (0.0003) | 0
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discounted cash flow | Comparability adjustment | Weighted average input |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | (0.0003) | (0.0011)
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Collateralized debt obligations | Available-for-sale |  |
Unobservable inputs |  |
Assets measured at fair value | $ | $ 40.0 | $ 39.5
Fixed maturities, available-for-sale, Valuation technique | Discounted cash flow | Discounted cash flow
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Collateralized debt obligations | Available-for-sale | Discounted cash flow | Discount rate |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input |  | 0.044
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Collateralized debt obligations | Available-for-sale | Discounted cash flow | Discount rate | Maximum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.054 |
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Collateralized debt obligations | Available-for-sale | Discounted cash flow | Discount rate | Weighted average input |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.054 | 0.044
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Collateralized debt obligations | Available-for-sale | Discounted cash flow | Comparability adjustment |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input |  | 0.0055
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Collateralized debt obligations | Available-for-sale | Discounted cash flow | Comparability adjustment | Maximum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.0052 |
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Collateralized debt obligations | Available-for-sale | Discounted cash flow | Comparability adjustment | Weighted average input |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.0052 | 0.0055
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale |  |
Unobservable inputs |  |
Assets measured at fair value | $ | $ 625.7 | $ 467.8
Fixed maturities, available-for-sale, Valuation technique | Discounted cash flow | Discounted cash flow
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discounted cash flow | Discount rate | Minimum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.057 | 0.056
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discounted cash flow | Discount rate | Maximum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.091 | 0.082
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discounted cash flow | Discount rate | Weighted average input |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.082 | 0.076
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discounted cash flow | Illiquidity premium | Minimum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0 | 0
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discounted cash flow | Illiquidity premium | Maximum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.0415 | 0.0260
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discounted cash flow | Illiquidity premium | Weighted average input |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.0239 | 0.0220
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discounted cash flow | Comparability adjustment | Minimum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.0032 | 0.0001
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discounted cash flow | Comparability adjustment | Maximum |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.0152 | 0.0139
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discounted cash flow | Comparability adjustment | Weighted average input |  |
Unobservable inputs |  |
Fixed maturities, available-for-sale, Input | 0.0086 | 0.0077
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets |  |
Unobservable inputs |  |
Assets measured at fair value | $ | $ 894.2 | $ 1,034.1
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Discount rate | Minimum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.060 | 0.055
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Discount rate | Maximum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.100 | 0.100
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Discount rate | Weighted average input |  |
Unobservable inputs |  |
Separate account assets, Input | 0.073 | 0.070
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Terminal capitalization rate | Minimum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.050 | 0.045
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Terminal capitalization rate | Maximum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.095 | 0.095
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Terminal capitalization rate | Weighted average input |  |
Unobservable inputs |  |
Separate account assets, Input | 0.060 | 0.058
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Average market rent growth rate | Minimum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.020 | 0.020
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Average market rent growth rate | Maximum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.038 | 0.038
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Average market rent growth rate | Weighted average input |  |
Unobservable inputs |  |
Separate account assets, Input | 0.030 | 0.030
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Loan to value | Minimum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.434 | 0.436
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Loan to value | Maximum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.649 | 0.622
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Loan to value | Weighted average input |  |
Unobservable inputs |  |
Separate account assets, Input | 0.522 | 0.506
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Market interest rate | Minimum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.055 | 0.053
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Market interest rate | Maximum |  |
Unobservable inputs |  |
Separate account assets, Input | 0.086 | 0.086
Recurring Fair Value Measurements | Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Market interest rate | Weighted average input |  |
Unobservable inputs |  |
Separate account assets, Input | 0.070 | 0.066

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