Policyholder account balances

Schedule of guaranteed minimum interest rate (Table)


	June 30, 2024
	Excess of crediting rates over GMIR
			Up to 0.50%		0.51% to 1.00%		1.01% to 2.00%		2.01% or more
	At GMIR		above GMIR		above GMIR		above GMIR		above GMIR		Total

	(in millions)
Retirement and Income Solutions
Workplace savings and retirement solutions
Up to 1.00%	$	—	$	—	$	—	$	1,090.1	$	374.6	$	1,464.7
1.01% - 2.00%		4,309.3		—		1,072.5		—		—		5,381.8
2.01% - 3.00%		317.2		0.1		1.7		316.6		3,777.7		4,413.3
3.01% - 4.00%		7.5		—		—		—		—		7.5
4.01% and above		16.2		—		—		—		—		16.2
Subtotal		4,650.2		0.1		1,074.2		1,406.7		4,152.3		11,283.5
No GMIR												2,010.4
Total											$	13,293.9

Individual variable annuities
Up to 1.00%	$	20.9	$	—	$	—	$	—	$	—	$	20.9
1.01% - 2.00%		4.6		—		—		—		—		4.6
2.01% - 3.00%		251.4		—		—		—		—		251.4
3.01% - 4.00%		—		—		—		—		—		—
4.01% and above		—		—		—		—		—		—
Subtotal		276.9		—		—		—		—		276.9
No GMIR												561.1
Total											$	838.0

Individual fixed deferred annuities
Up to 1.00%	$	255.1	$	61.9	$	84.8	$	286.6	$	1,059.7	$	1,748.1
1.01% - 2.00%		88.4		0.9		19.3		61.5		4.1		174.2
2.01% - 3.00%		2,620.2		—		—		—		—		2,620.2
3.01% - 4.00%		151.8		—		—		—		—		151.8
4.01% and above		—		—		—		—		—		—
Subtotal		3,115.5		62.8		104.1		348.1		1,063.8		4,694.3
No GMIR												205.3
Total											$	4,899.6

Benefits and Protection - Life Insurance
Universal life
Up to 1.00%	$	—	$	—	$	5.8	$	10.8	$	3.0	$	19.6
1.01% - 2.00%		283.0		—		419.9		499.6		430.3		1,632.8
2.01% - 3.00%		688.1		653.9		796.7		363.1		5.3		2,507.1
3.01% - 4.00%		1,601.2		60.1		37.1		74.9		6.7		1,780.0
4.01% and above		32.0		3.2		7.0		11.0		—		53.2
Subtotal		2,604.3		717.2		1,266.5		959.4		445.3		5,992.7
No GMIR												903.5
Total											$	6,896.2


	December 31, 2023
	Excess of crediting rates over GMIR
			Up to 0.50%		0.51% to 1.00%		1.01% to 2.00%		2.01% or more
	At GMIR		above GMIR		above GMIR		above GMIR		above GMIR		Total

	(in millions)
Retirement and Income Solutions
Workplace savings and retirement solutions
Up to 1.00%	$	—	$	3.3	$	101.8	$	1,006.0	$	312.8	$	1,423.9
1.01% - 2.00%		5,135.0		3.8		1,153.1		—		874.6		7,166.5
2.01% - 3.00%		357.1		0.1		0.8		59.1		1,701.2		2,118.3
3.01% - 4.00%		7.4		—		—		—		—		7.4
4.01% and above		16.9		—		—		—		—		16.9
Subtotal		5,516.4		7.2		1,255.7		1,065.1		2,888.6		10,733.0
No GMIR												1,988.5
Total											$	12,721.5

Individual variable annuities
Up to 1.00%	$	22.6	$	—	$	—	$	—	$	—	$	22.6
1.01% - 2.00%		4.6		—		—		—		—		4.6
2.01% - 3.00%		273.5		—		—		—		—		273.5
3.01% - 4.00%		—		—		—		—		—		—
4.01% and above		—		—		—		—		—		—
Subtotal		300.7		—		—		—		—		300.7
No GMIR												213.5
Total											$	514.2

Individual fixed deferred annuities
Up to 1.00%	$	305.5	$	115.4	$	121.8	$	449.4	$	999.5	$	1,991.6
1.01% - 2.00%		100.8		0.9		26.3		123.5		2.4		253.9
2.01% - 3.00%		2,897.7		—		—		—		—		2,897.7
3.01% - 4.00%		156.9		—		—		—		—		156.9
4.01% and above		—		—		—		—		—		—
Subtotal		3,460.9		116.3		148.1		572.9		1,001.9		5,300.1
No GMIR												238.2
Total											$	5,538.3

Benefits and Protection - Life Insurance
Universal life
Up to 1.00%	$	—	$	—	$	16.1	$	1.0	$	2.4	$	19.5
1.01% - 2.00%		294.1		—		418.1		485.6		415.4		1,613.2
2.01% - 3.00%		729.7		677.2		836.3		350.6		3.0		2,596.8
3.01% - 4.00%		1,657.0		49.8		37.6		36.4		3.2		1,784.0
4.01% and above		40.5		3.9		8.3		1.5		—		54.2
Subtotal		2,721.3		730.9		1,316.4		875.1		424.0		6,067.7
No GMIR												842.7
Total											$	6,910.4

Policyholder account balances

Schedule of changes in policyholder account balances (Table)


	For the six months ended			For the year ended
	June 30, 2024			December 31, 2023

	($ in millions)
Balance at beginning of period	$	6,910.4		$	6,947.9
Premiums and deposits		666.0			1,260.5
Policy charges		(437.1)			(858.1)
Surrenders, withdrawals and benefit payments		(323.4)			(483.6)
Net transfers from (to) separate account (1)		(66.4)			(197.7)
Interest credited		147.4			242.1
Other		(0.7)			(0.7)
Balance at end of period		6,896.2			6,910.4
Reinsurance impact		(3,312.1)			(3,396.8)
Balance at end of period after reinsurance	$	3,584.1		$	3,513.6

Weighted-average crediting rate (2)		4.13	%		4.01	%
Net amount at risk (3)	$	86,091.1		$	86,671.0
Cash surrender value (4)	$	5,973.2		$	5,953.0

(1)	Within the separate account liabilities rollforwards in Note 6, Separate Account Balances, these transfers are reflected in premiums and deposits; surrenders, withdrawals and benefit payments; and net transfers (to) from general account.

(2)	The weighted-average crediting rate is the crediting rate as of the end of each reporting period weighted by account value, including indexed credits.

(3)	For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the death benefit in excess of the current account balance or the fixed death benefit at the consolidated statement of financial position date.

(4)	Cash surrender value represents the amount of the contractholders’ account balances distributable at the end of the reporting period less surrender charges.