XML 49 R38.htm IDEA: XBRL DOCUMENT
v3.23.3

Reinsurance (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Reinsurance |
Schedule of information pertaining to effects of reinsurance on premiums and other considerations and policy and contract benefits (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended September 30, | ​ | For the nine months ended September 30,
​ |  | 2023 |  | 2022 | ​ | 2023 | ​ | 2022
​ | ​ | (in millions)
Premiums and other considerations: | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ |  |  | ​ |
Direct | ​ | $ | 1,575.3 | ​ | $ | 1,591.6 | ​ | $ | 4,757.5 | ​ | $ | 4,068.8
Ceded | ​ |  | (117.4) | ​ |  | (105.1) | ​ |  | (358.3) | ​ |  | (328.7)
Net premiums and other considerations | ​ | $ | 1,457.9 | ​ | $ | 1,486.5 | ​ | $ | 4,399.2 | ​ | $ | 3,740.1
Benefits, claims and settlement expenses: | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  |
Direct | ​ | $ | 2,143.0 | ​ | $ | 2,174.8 | ​ | $ | 6,504.9 | ​ | $ | 5,826.4
Ceded | ​ |  | (432.4) | ​ |  | (373.2) | ​ |  | (1,186.3) | ​ |  | (1,090.9)
Net benefits, claims and settlement expenses | ​ | $ | 1,710.6 | ​ | $ | 1,801.6 | ​ | $ | 5,318.6 | ​ | $ | 4,735.5
Liability for future policy benefits remeasurement gain: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Direct | ​ | $ | 697.4 | ​ | $ | (68.0) | ​ | $ | 721.7 | ​ | $ | (199.6)
Ceded | ​ | ​ | (739.7) | ​ | ​ | 0.4 | ​ | ​ | (768.9) | ​ | ​ | (68.4)
Net liability for future policy benefits remeasurement gain | ​ | $ | (42.3) | ​ | $ | (67.6) | ​ | $ | (47.2) | ​ | $ | (268.0)
​
Schedule of information pertaining to cost of reinsurance asset and liability included on the consolidated statements of financial position (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2023 |  | December 31, 2022
​ | ​ | (in millions)
Cost of reinsurance asset | ​ | $ | 3,286.6 | ​ | $ | 3,339.1
​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of reinsurance liability | ​ | $ | 150.2 | ​ | $ | 191.1
Schedule of assets held in support of reserves associated with coinsurance with funds withheld agreement (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2023 |  | December 31, 2022
​ | ​ | (in millions)
Fixed maturities, available-for-sale | ​ | $ | 14,779.3 | ​ | $ | 15,693.5
Fixed maturities, trading | ​ |  | 215.3 | ​ | ​ | 100.8
Equity securities | ​ |  | 0.3 | ​ | ​ | 11.0
Mortgage loans | ​ |  | 2,527.9 | ​ | ​ | 2,810.8
Other investments | ​ |  | 434.1 | ​ | ​ | 179.8
Cash and cash equivalents | ​ |  | 746.9 | ​ | ​ | 1,762.9
Accrued interest income | ​ |  | 203.7 | ​ | ​ | 178.7
Net other liabilities | ​ |  | (49.8) | ​ | ​ | (33.6)
Net assets | ​ | $ | 18,857.7 | ​ | $ | 20,703.9
Schedule of components of net realized gains (losses) on the funds withheld assets that were passed to coinsurer (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
​ | ​ | (in millions)
Fixed maturities, available-for-sale | ​ | $ | (22.7) | ​ | $ | (53.2) | ​ | $ | (146.3) | ​ | $ | 60.7
Fixed maturities, trading | ​ | ​ | — | ​ | ​ | (5.6) | ​ | ​ | (0.1) | ​ | ​ | (6.4)
Equity securities | ​ | ​ | — | ​ | ​ | 0.4 | ​ | ​ | (1.2) | ​ | ​ | (2.4)
Mortgage loans | ​ | ​ | — | ​ | ​ | (0.2) | ​ | ​ | (9.2) | ​ | ​ | (1.8)
Derivatives | ​ | ​ | (0.4) | ​ | ​ | (0.5) | ​ | ​ | 5.0 | ​ | ​ | (1.0)
Other | ​ | ​ | — | ​ | ​ | 11.8 | ​ | ​ | — | ​ | ​ | 5.4
Net realized capital gains (losses) | ​ | $ | (23.1) | ​ | $ | (47.3) | ​ | $ | (151.8) | ​ | $ | 54.5
​

X
- Definition Tabular disclosure of information pertaining to assets that were held in support of company's reserves associated with company's coinsurance with funds withheld agreement. + References No definition available. + Details
Name: | pfg_ScheduleOfAssetsHeldInSupportOfReservesAssociatedWithCoinsuranceWithFundsWithheldAgreementTableTextBlock
Namespace Prefix: | pfg_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of net realized gains (losses) on the funds withheld assets that were passed to coinsurer. + References No definition available. + Details
Name: | pfg_ScheduleOfComponentsOfNetRealizedCapitalGainsLossesOnFundsWithheldAssetsPassedToCoinsurerTableTextBlock
Namespace Prefix: | pfg_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to cost of reinsurance asset and liability included on the consolidated statements of financial position. + References No definition available. + Details
Name: | pfg_ScheduleOfCostOfReinsuranceAssetAndLiabilityTableTextBlock
Namespace Prefix: | pfg_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 605 -Topic 944 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479655/944-605-50-1 + Details
Name: | us-gaap_EffectsOfReinsuranceTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReinsuranceDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration