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v3.24.2

Reinsurance (Tables) | 6 Months Ended
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Jun. 30, 2024
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 June 30, | ​ | For the six months ended June 30,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
​ | ​ | (in millions)
Premiums and other considerations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Direct | ​ | $ | 2,065.5 | ​ | $ | 1,618.9 | ​ | $ | 3,869.8 | ​ | $ | 3,182.2
Ceded | ​ |  | (138.9) | ​ |  | (126.2) | ​ |  | (258.6) | ​ |  | (240.9)
Net premiums and other considerations | ​ | $ | 1,926.6 | ​ | $ | 1,492.7 | ​ | $ | 3,611.2 | ​ | $ | 2,941.3
Benefits, claims and settlement expenses: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Direct | ​ | $ | 2,778.7 | ​ | $ | 2,254.1 | ​ | $ | 5,266.2 | ​ | $ | 4,361.9
Ceded (1) | ​ |  | (700.8) | ​ |  | (420.0) | ​ |  | (1,118.6) | ​ |  | (753.9)
Net benefits, claims and settlement expenses | ​ | $ | 2,077.9 | ​ | $ | 1,834.1 | ​ | $ | 4,147.6 | ​ | $ | 3,608.0
LFPB remeasurement (gain) loss: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Direct | ​ | $ | 4.4 | ​ | $ | 11.6 | ​ | $ | 32.4 | ​ | $ | 24.3
Ceded (1) | ​ | ​ | 440.4 | ​ | ​ | (10.9) | ​ | ​ | 410.7 | ​ | ​ | (29.2)
Net LFPB remeasurement (gain) loss | ​ | $ | 444.8 | ​ | $ | 0.7 | ​ | $ | 443.1 | ​ | $ | (4.9)
(1)Includes the one-time impact of YRT reinsurance transactions in 2024. ​
Schedule of information pertaining to cost of reinsurance asset and liability included on the consolidated statements of financial position (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, 2024 |  | December 31, 2023
​ | ​ | (in millions)
Cost of reinsurance asset | ​ | $ | 3,232.9 | ​ | $ | 3,275.5
​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of reinsurance liability | ​ | $ | 836.6 | ​ | $ | 424.6
Schedule of assets held in support of reserves associated with coinsurance with funds withheld agreement (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, 2024 |  | December 31, 2023
​ | ​ | (in millions)
Fixed maturities, available-for-sale | ​ | $ | 14,147.9 | ​ | $ | 15,587.5
Fixed maturities, trading | ​ |  | 300.7 | ​ | ​ | 316.8
Equity securities | ​ |  | 0.3 | ​ | ​ | 0.3
Mortgage loans | ​ |  | 2,354.5 | ​ | ​ | 2,385.9
Other investments | ​ |  | 1,014.8 | ​ | ​ | 621.4
Cash and cash equivalents | ​ |  | 856.9 | ​ | ​ | 818.4
Accrued interest income | ​ |  | 175.4 | ​ | ​ | 187.0
Net other liabilities | ​ |  | (78.4) | ​ | ​ | (77.8)
Net assets | ​ | $ | 18,772.1 | ​ | $ | 19,839.5
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 six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
​ | ​ | (in millions)
Fixed maturities, available-for-sale | ​ | $ | (11.0) | ​ | $ | (66.6) | ​ | $ | (41.2) | ​ | $ | (123.6)
Fixed maturities, trading | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (0.1)
Equity securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1.2)
Mortgage loans | ​ | ​ | — | ​ | ​ | (9.2) | ​ | ​ | — | ​ | ​ | (9.2)
Derivatives | ​ | ​ | 0.8 | ​ | ​ | 2.5 | ​ | ​ | 1.8 | ​ | ​ | 5.4
Net realized capital losses | ​ | $ | (10.2) | ​ | $ | (73.3) | ​ | $ | (39.4) | ​ | $ | (128.7)
​

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