XML 122 R110.htm IDEA: XBRL DOCUMENT v3.24.2
Fair Value Measurements - Changes in Level 3 Fair Value Measurements (Details) - Recurring Fair Value Measurements - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax
Beginning balance, net derivative assets (liabilities) $ 0.9 $ 4.0 $ 5.5 $ (3.4)
Total realized/unrealized gains (losses) included in net income, net derivative assets (liabilities) $ 0.3 $ (4.8) $ (4.7) $ 2.6
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax
Net purchases, sales, issuances and settlements, net derivative assets (liabilities) $ 0.8 $ 1.0 $ 1.2 $ 1.0
Ending balance, net derivative assets (liabilities) 2.0 0.2 2.0 0.2
Changes in unrealized gains (losses) included in net income relating to positions still held, net derivative assets (liabilities) 0.9 (3.1) (3.6) 4.2
Gross purchases, sales, issuances and settlements        
Purchases, net derivative assets (liabilities) 0.1   0.3  
Sales, net derivative assets (liabilities) 0.7 1.0 0.9 1.0
Net purchases, sales, issuances and settlements, net derivative assets (liabilities) 0.8 1.0 1.2 1.0
Investment and universal life contracts        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, liabilities (174.7) (55.5) (115.5) (46.4)
Total realized/unrealized gains (losses) included in net income, liabilities (17.2) (13.0) (60.6) (18.3)
Net purchases, sales, issuances and settlements, liabilities (38.1) (1.1) (53.9) (4.9)
Ending balance, liabilities (230.0) (69.6) (230.0) (69.6)
Changes in unrealized gains (losses) included in net income relating to positions still held, liabilities (49.5) (13.7) (59.5) (17.7)
Gross purchases, sales, issuances and settlements        
Issuances, liabilities (56.3) (10.7) (90.1) (18.9)
Settlements, liabilities 18.2 9.6 36.2 14.0
Net purchases, sales, issuances and settlements, liabilities (38.1) (1.1) (53.9) (4.9)
Funds withheld payable embedded derivative        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, liabilities 2,764.1 3,026.2 2,567.1 3,652.8
Total realized/unrealized gains (losses) included in net income, liabilities 232.9 93.9 429.9 (532.7)
Ending balance, liabilities 2,997.0 3,120.1 2,997.0 3,120.1
Changes in unrealized gains (losses) included in net income relating to positions still held, liabilities 232.9 93.9 429.9 (532.7)
Fixed maturities | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 3,539.5 2,758.6 3,636.8 2,166.6
Total realized/unrealized gains (losses) included in net income, assets (1.6) (3.2) (6.8) (3.2)
Total realized/unrealized gains (losses) included in other comprehensive income, assets (24.2) (20.8) (45.7) (31.1)
Net purchases, sales, issuances and settlements, assets 166.8 181.6 88.3 613.3
Transfers into Level 3, assets 90.5 79.1 210.0 307.8
Transfers out of Level 3, assets   (120.9) (111.6) (179.0)
Ending balance, assets 3,771.0 2,874.4 3,771.0 2,874.4
Changes in unrealized gains (losses) included in net income relating to positions still held, assets (1.6) (3.2) (6.6) (3.2)
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets (23.2) (16.3) (48.7) (29.6)
Gross purchases, sales, issuances and settlements        
Purchases, assets 304.9 216.5 571.4 679.6
Sales, assets (18.3) (8.1) (298.5) (11.7)
Settlements, assets (119.8) (26.8) (184.6) (54.6)
Net purchases, sales, issuances and settlements, assets 166.8 181.6 88.3 613.3
States and political subdivisions | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 68.2 72.1 69.9 70.9
Total realized/unrealized gains (losses) included in other comprehensive income, assets (0.7) (1.7) (2.0) (0.1)
Net purchases, sales, issuances and settlements, assets 2.0 (0.4) 1.6 (0.8)
Transfers into Level 3, assets 15.5   15.5  
Ending balance, assets 85.0 70.0 85.0 70.0
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets (0.7) (1.7) (2.0) (0.1)
Gross purchases, sales, issuances and settlements        
Purchases, assets 2.5   2.5  
Settlements, assets (0.5) (0.4) (0.9) (0.8)
Net purchases, sales, issuances and settlements, assets 2.0 (0.4) 1.6 (0.8)
Corporate debt securities | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 2,202.6 1,654.5 2,305.9 1,568.3
Total realized/unrealized gains (losses) included in net income, assets (1.6) (3.8) (6.8) (3.8)
Total realized/unrealized gains (losses) included in other comprehensive income, assets (17.7) (3.5) (28.9) (10.1)
Net purchases, sales, issuances and settlements, assets 25.9 92.5 (100.5) 217.8
Transfers into Level 3, assets 19.4 79.1 58.9 89.5
Transfers out of Level 3, assets       (42.9)
Ending balance, assets 2,228.6 1,818.8 2,228.6 1,818.8
Changes in unrealized gains (losses) included in net income relating to positions still held, assets (1.6) (3.8) (6.6) (3.8)
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets (17.5) (1.0) (30.3) (9.2)
Gross purchases, sales, issuances and settlements        
Purchases, assets 141.9 122.2 277.4 273.1
Sales, assets (18.3) (8.1) (239.4) (11.7)
Settlements, assets (97.7) (21.6) (138.5) (43.6)
Net purchases, sales, issuances and settlements, assets 25.9 92.5 (100.5) 217.8
Commercial mortgage-backed securities | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 2.9 3.3 3.0 3.4
Total realized/unrealized gains (losses) included in other comprehensive income, assets   (0.1)    
Net purchases, sales, issuances and settlements, assets (0.1)   (0.2) (0.2)
Ending balance, assets 2.8 3.2 2.8 3.2
Gross purchases, sales, issuances and settlements        
Settlements, assets (0.1)   (0.2) (0.2)
Net purchases, sales, issuances and settlements, assets (0.1)   (0.2) (0.2)
Collateralized debt obligations | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 99.4 162.2 75.4 56.2
Total realized/unrealized gains (losses) included in other comprehensive income, assets (1.1) (0.9) (2.8) 0.2
Net purchases, sales, issuances and settlements, assets 6.4 25.2 32.1 145.3
Transfers out of Level 3, assets   (120.9)   (136.1)
Ending balance, assets 104.7 65.6 104.7 65.6
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets (0.3) (0.2) (3.7) (0.3)
Gross purchases, sales, issuances and settlements        
Purchases, assets 6.4 25.2 32.1 146.5
Settlements, assets       (1.2)
Net purchases, sales, issuances and settlements, assets 6.4 25.2 32.1 145.3
Other debt obligations | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 1,166.4 866.5 1,182.6 467.8
Total realized/unrealized gains (losses) included in net income, assets   0.6   0.6
Total realized/unrealized gains (losses) included in other comprehensive income, assets (4.7) (14.6) (12.0) (21.1)
Net purchases, sales, issuances and settlements, assets 132.6 64.3 155.3 251.2
Transfers into Level 3, assets 55.6   135.6 218.3
Transfers out of Level 3, assets     (111.6)  
Ending balance, assets 1,349.9 916.8 1,349.9 916.8
Changes in unrealized gains (losses) included in net income relating to positions still held, assets   0.6   0.6
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets (4.7) (13.4) (12.7) (20.0)
Gross purchases, sales, issuances and settlements        
Purchases, assets 154.1 69.1 259.4 260.0
Sales, assets     (59.1)  
Settlements, assets (21.5) (4.8) (45.0) (8.8)
Net purchases, sales, issuances and settlements, assets 132.6 64.3 155.3 251.2
Other investments        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 165.8 1.9 165.1 1.9
Total realized/unrealized gains (losses) included in net income, assets (6.1)   (11.4)  
Net purchases, sales, issuances and settlements, assets 13.8   19.8  
Ending balance, assets 173.5 1.9 173.5 1.9
Changes in unrealized gains (losses) included in net income relating to positions still held, assets (3.2)   (6.6)  
Gross purchases, sales, issuances and settlements        
Purchases, assets 66.8   118.7  
Settlements, assets (53.0)   (98.9)  
Net purchases, sales, issuances and settlements, assets 13.8   19.8  
Fixed maturities, trading.        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 470.2 156.1 415.8 134.0
Total realized/unrealized gains (losses) included in net income, assets 1.8 (0.3) (1.7) (0.7)
Net purchases, sales, issuances and settlements, assets (26.8) 15.2 31.1 37.7
Ending balance, assets 445.2 171.0 445.2 171.0
Changes in unrealized gains (losses) included in net income relating to positions still held, assets 2.2 (0.4) 2.1 (0.8)
Gross purchases, sales, issuances and settlements        
Purchases, assets 33.8 15.8 221.1 42.2
Sales, assets (23.5) (0.1) (120.5) (3.6)
Settlements, assets (37.1) (0.5) (69.5) (0.9)
Net purchases, sales, issuances and settlements, assets (26.8) 15.2 31.1 37.7
Separate account assets        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 725.6 893.8 752.8 1,034.9
Total realized/unrealized gains (losses) included in net income, assets (6.3) (16.1) (32.6) (1.1)
Net purchases, sales, issuances and settlements, assets (0.9) (39.6) (1.8) (195.7)
Ending balance, assets 718.4 838.1 718.4 838.1
Changes in unrealized gains (losses) included in net income relating to positions still held, assets (31.5) (30.9) (19.1) (38.2)
Gross purchases, sales, issuances and settlements        
Sales, assets   (21.6) (30.3) (223.6)
Issuances, assets (0.9) (25.2) (10.5) (29.3)
Settlements, assets   7.2 39.0 57.2
Net purchases, sales, issuances and settlements, assets $ (0.9) $ (39.6) $ (1.8) $ (195.7)