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Reinsurance (Tables)

6 Months Ended

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)