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v3.23.2

Future Policy Benefits and Claims - Benefits and Protection (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended |
--- | --- | --- | --- | ---
Sep. 30, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
Present value of expected future policy benefit payments |  |  |  |  |
Future policy benefits |  | $ 35,230.6 | $ 34,064.4 |  | $ 43,489.8
Benefits and Protection |  |  |  |  |
Present value of expected future policy benefit payments |  |  |  |  |
Future policy benefits |  | 2,767.4 | 2,607.8 |  | 3,661.2
Benefits and Protection | Life Insurance | Term life |  |  |  |  |
Present value of expected net premiums |  |  |  |  |
Balance at beginning of period, Present value of expected net premiums |  | 3,423.2 | 4,193.7 |  |
Effect of changes in discount rate assumptions at beginning of period |  | 196.0 | (690.1) | $ (861.1) |
Balance at beginning of period at original discount rate |  | 3,619.2 | 3,503.6 | 2,937.9 |
Effect of actual variances from expected experience |  | 55.2 | 128.6 | 211.4 |
Adjusted beginning of period balance at original discount rate |  | 3,674.4 | 3,632.2 | 3,149.3 |
Interest accrual |  | 83.3 | 162.9 | 151.1 |
Net premiums collected |  | (172.9) | (346.6) | (315.0) |
Issuances |  | 103.8 | 170.7 | 518.2 |
Balance at end of period at original discount rate |  | 3,688.6 | 3,619.2 | 3,503.6 |
Effect of changes in discount rate assumptions at end of period |  | (168.1) | (196.0) | 690.1 |
Balance at end of period, Present value of expected net premiums |  | 3,520.5 | 3,423.2 | 4,193.7 |
Present value of expected future policy benefit payments |  |  |  |  |
Balance at beginning of period, Present value of expected future policy benefit payments |  | 4,332.2 | 5,311.3 | 4,959.3 |
Effect of changes in discount rate assumptions at beginning of period |  | 251.6 | (913.9) | (1,179.9) |
Balance at beginning of period at original discount rate |  | 4,583.8 | 4,397.4 | 3,779.4 |
Effect of actual variances from expected experience |  | 61.0 | 139.0 | 216.0 |
Adjusted beginning of period balance at original discount rate |  | 4,644.8 | 4,536.4 | 3,995.4 |
Interest accrual |  | 106.4 | 206.8 | 194.3 |
Benefit payments |  | (166.1) | (340.6) | (335.7) |
Issuances |  | 111.5 | 181.2 | 543.4 |
Balance at end of period at original discount rate |  | 4,696.6 | 4,583.8 | 4,397.4 |
Effect of changes in discount rate assumptions at end of period |  | (213.9) | (251.6) | 913.9 |
Balance at end of period, Present value of expected future policy benefit payments |  | 4,482.7 | 4,332.2 | 5,311.3 |
Future policy benefits |  | 962.2 | 909.0 | 1,117.6 | 1,160.3
Reinsurance Impact |  | 44.8 | 25.6 | (0.1) |
Future policy benefits after reinsurance |  | 1,007.0 | 934.6 | 1,117.5 |
Liability for future policy benefit increase (decrease) due to effect of changes in discount rate assumptions |  | $ 9.8 | $ (279.4) |  |
Weighted-average duration for future policy benefits (in years) |  | 9 years 2 months 12 days | 9 years 7 months 6 days |  |
Benefits and Protection | Specialty Benefits | Individual disability |  |  |  |  |
Present value of expected net premiums |  |  |  |  |
Balance at beginning of period, Present value of expected net premiums |  | $ 2,341.8 | $ 3,149.9 |  |
Effect of changes in discount rate assumptions at beginning of period |  | 395.2 | (198.9) | (340.7) |
Balance at beginning of period at original discount rate |  | 2,737.0 | 2,951.0 | 2,807.6 |
Effect of changes in cash flow assumptions |  |  | (413.1) |  |
Effect of actual variances from expected experience |  | 131.8 | 235.9 | 122.0 |
Adjusted beginning of period balance at original discount rate |  | 2,868.8 | 2,773.8 | 2,929.6 |
Interest accrual |  | 47.4 | 95.2 | 95.4 |
Net premiums collected |  | (134.3) | (276.5) | (280.4) |
Issuances |  | 49.0 | 144.5 | 206.4 |
Balance at end of period at original discount rate |  | 2,830.9 | 2,737.0 | 2,951.0 |
Effect of changes in discount rate assumptions at end of period |  | (361.1) | (395.2) | 198.9 |
Balance at end of period, Present value of expected net premiums |  | 2,469.8 | 2,341.8 | 3,149.9 |
Present value of expected future policy benefit payments |  |  |  |  |
Balance at beginning of period, Present value of expected future policy benefit payments |  | 4,040.6 | 5,648.3 | 5,649.2 |
Effect of changes in discount rate assumptions at beginning of period |  | 1,021.4 | (501.0) | (834.1) |
Balance at beginning of period at original discount rate |  | 5,062.0 | 5,147.3 | 4,815.1 |
Effect of changes in cash flow assumptions |  |  | (476.3) |  |
Effect of actual variances from expected experience |  | 141.6 | 240.0 | 118.8 |
Adjusted beginning of period balance at original discount rate |  | 5,203.6 | 4,911.0 | 4,933.9 |
Interest accrual |  | 94.1 | 185.4 | 181.0 |
Benefit payments |  | (94.7) | (183.7) | (179.7) |
Issuances |  | 50.6 | 149.3 | 212.1 |
Balance at end of period at original discount rate |  | 5,253.6 | 5,062.0 | 5,147.3 |
Effect of changes in discount rate assumptions at end of period |  | (978.6) | (1,021.4) | 501.0 |
Balance at end of period, Present value of expected future policy benefit payments |  | 4,275.0 | 4,040.6 | 5,648.3 |
Future policy benefits |  | 1,805.2 | 1,698.8 | 2,498.4 | $ 2,500.9
Reinsurance Impact |  | (408.9) | (386.8) | (549.9) |
Future policy benefits after reinsurance |  | 1,396.3 | 1,312.0 | $ 1,948.5 |
Liability for future policy benefit increase (decrease) due to effect of changes in discount rate assumptions |  | $ 8.7 | $ (928.3) |  |
Liability for future policy benefits increase (decrease) from actuarial assumptions | $ (63.2) |  |  |  |
Pre-tax operating earnings, net of reinsurance, increase (decrease) from actuarial assumptions | $ 52.4 |  |  |  |
Weighted-average duration for future policy benefits (in years) |  | 18 years 6 months | 18 years 6 months |  |

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