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v3.23.3

Deferred Acquisition Costs and Other Actuarial Balances (Tables) | 9 Months Ended
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Sep. 30, 2023
Disaggregated DAC amounts and reconciliation (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2023 |  | December 31, 2022
​ | ​ | (in millions)
Retirement and Income Solutions: |  | ​ |  |  | ​ |
Workplace savings and retirement solutions | ​ | $ | 504.1 | ​ | $ | 498.0
Individual variable annuities | ​ |  | 277.7 | ​ |  | 278.0
Pension risk transfer | ​ |  | 13.8 | ​ |  | 8.1
Individual fixed deferred annuities | ​ |  | 112.2 | ​ |  | 131.0
Investment only | ​ |  | 12.7 | ​ |  | 14.9
Total Retirement and Income Solutions | ​ |  | 920.5 | ​ |  | 930.0
Benefits and Protection: | ​ |  | ​ | ​ |  |
Specialty Benefits: | ​ |  | ​ | ​ |  |
Individual disability | ​ |  | 658.0 | ​ |  | 626.1
Life Insurance: | ​ |  | ​ | ​ |  |
Universal life | ​ |  | 1,549.3 | ​ |  | 1,569.7
Term life | ​ |  | 692.1 | ​ |  | 685.7
Participating life | ​ |  | 86.6 | ​ |  | 93.0
Total Benefits and Protection | ​ |  | 2,986.0 | ​ |  | 2,974.5
Short-duration contracts | ​ |  | 34.2 | ​ |  | 34.7
Other balances (1) | ​ |  | 7.7 | ​ |  | 8.8
Total DAC per consolidated statements of financial position | ​ | $ | 3,948.4 | ​ | $ | 3,948.0
(1) | Includes insignificant balances for long-duration contracts.
Disaggregated unearned revenue liability amounts and reconciliation (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2023 |  | December 31, 2022
​ | ​ | (in millions)
Benefits and Protection - Life Insurance: |  | ​ |  |  | ​ |
Universal life | ​ | $ | 479.7 | ​ | $ | 459.0
Other balances (1) | ​ |  | 7.2 | ​ |  | 8.4
Total unearned revenue liability | ​ | $ | 486.9 | ​ | $ | 467.4
(1) | Includes insignificant balances for long-duration contracts.
Disaggregated Rollforward at Adoption - Unearned Revenue Liability (Table) | Benefits and Protection The balances and changes in the unearned revenue liability for 2021 for Life Insurance – Universal life were as follows:
​ | ​ | ​ | ​
​ |  | For the year ended
​ | ​ | December 31, 2021
​ | ​ | (in millions)
Balance at beginning of period | ​ | $ | 384.4
Deferrals | ​ |  | 66.1
Revenue recognized | ​ |  | (25.2)
Balance at end of period | ​ | $ | 425.3
Retirement and Income Solutions |
Disaggregated DAC amounts and reconciliation (Table) | Retirement and Income Solutions ​ The balances and changes in DAC were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Workplace | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Individual | ​ | ​ | ​
​ | ​ | savings and | ​ | Individual | ​ | Pension | ​ | fixed | ​ | ​ | ​
​ | ​ | retirement | ​ | variable | ​ | risk | ​ | deferred | ​ | Investment
​ |  | solutions |  | annuities |  | transfer |  | annuities |  | only
​ | ​ | (in millions)
Balances as of January 1, 2022 | ​ | $ | 489.0 | ​ | $ | 281.2 | ​ | $ | 2.7 | ​ | $ | 162.2 | ​ | $ | 18.1
Costs deferred | ​ |  | 48.3 | ​ |  | 22.5 | ​ |  | 5.6 | ​ |  | — | ​ |  | 1.4
Amortized to expense | ​ |  | (39.3) | ​ |  | (25.7) | ​ |  | (0.2) | ​ |  | (31.2) | ​ |  | (4.6)
Balances as of December 31, 2022 | ​ | ​ | 498.0 | ​ | ​ | 278.0 | ​ | ​ | 8.1 | ​ | ​ | 131.0 | ​ | ​ | 14.9
Costs deferred | ​ | ​ | 35.7 | ​ | ​ | 19.1 | ​ | ​ | 6.1 | ​ | ​ | — | ​ | ​ | 1.4
Amortized to expense | ​ | ​ | (29.6) | ​ | ​ | (19.4) | ​ | ​ | (0.4) | ​ | ​ | (18.8) | ​ | ​ | (3.6)
Balances as of September 30, 2023 | ​ | $ | 504.1 | ​ | $ | 277.7 | ​ | $ | 13.8 | ​ | $ | 112.2 | ​ | $ | 12.7
Benefits and Protection |
Disaggregated DAC amounts and reconciliation (Table) | Benefits and Protection ​ The balances and changes in DAC were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Specialty Benefits | ​ | Life Insurance
​ | ​ | Individual | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | disability |  | Universal life |  | Term life |  | Participating life
​ | ​ | (in millions)
Balances as of January 1, 2022 | ​ | $ | 580.7 | ​ | $ | 1,596.2 | ​ | $ | 678.9 | ​ | $ | 102.3
Costs deferred | ​ |  | 87.6 | ​ |  | 70.6 | ​ |  | 66.7 | ​ |  | 1.4
Amortized to expense | ​ |  | (42.2) | ​ |  | (97.1) | ​ |  | (59.9) | ​ |  | (10.7)
Balances as of December 31, 2022 | ​ | ​ | 626.1 | ​ | ​ | 1,569.7 | ​ | ​ | 685.7 | ​ | ​ | 93.0
Costs deferred | ​ | ​ | 65.4 | ​ | ​ | 51.4 | ​ | ​ | 52.5 | ​ | ​ | 1.0
Amortized to expense | ​ | ​ | (33.5) | ​ | ​ | (71.8) | ​ | ​ | (46.1) | ​ | ​ | (7.4)
Balances as of September 30, 2023 | ​ | $ | 658.0 | ​ | $ | 1,549.3 | ​ | $ | 692.1 | ​ | $ | 86.6
Disaggregated Rollforward at Adoption - Unearned Revenue Liability (Table) | Benefits and Protection ​ The balances and changes in the unearned revenue liability for Life Insurance – Universal life contracts were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the nine months ended |  | For the year ended
​ | ​ | September 30, 2023 | ​ | December 31, 2022
​ | ​ | (in millions)
Balance at beginning of period | ​ | $ | 459.0 | ​ | $ | 425.3
Deferrals | ​ |  | 42.9 | ​ |  | 61.8
Revenue recognized | ​ |  | (22.2) | ​ |  | (28.1)
Balance at end of period | ​ |  | 479.7 | ​ |  | 459.0
Reinsurance impact | ​ |  | (226.0) | ​ |  | (227.9)
Balance at end of period after reinsurance | ​ | $ | 253.7 | ​ | $ | 231.1
​

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