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Closed Block (Tables)

12 Months Ended

Dec. 31, 2024

Closed Block

Closed Block Liabilities and Assets Designated to the Closed Block (Table)

​

​	​	​	​	​	​	​	​
​		December 31, 2024			December 31, 2023
​	​	(in millions)
Closed Block liabilities	​	​	​	​	​	​	​
Future policy benefits and claims	​	$	2,850.0	​	$	2,982.9	​
Other policyholder funds	​	​	4.4	​	​	5.1	​
Policyholder dividends payable	​	​	155.1	​	​	157.2	​
Income taxes currently payable	​	​	1.3	​	​	4.0	​
Other liabilities	​	​	27.6	​	​	23.2	​
Total Closed Block liabilities	​	​	3,038.4	​	​	3,172.4	​
​	​	​	​	​	​	​	​
Assets designated to the Closed Block	​	​	​	​	​	​	​
Fixed maturities, available-for-sale	​	​	1,752.0	​	​	1,766.7	​
Fixed maturities, trading	​	​	0.7	​	​	2.0	​
Equity securities	​	​	0.9	​	​	0.9	​
Mortgage loans	​	​	413.3	​	​	469.5	​
Policy loans	​	​	353.6	​	​	379.9	​
Other investments	​	​	61.2	​	​	61.2	​
Total investments	​	​	2,581.7	​	​	2,680.2	​
Cash and cash equivalents	​	​	—	​	​	6.1	​
Accrued investment income	​	​	32.3	​	​	32.6	​
Reinsurance recoverable and deposit receivable	​	​	3.5	​	​	3.5	​
Premiums due and other receivables	​	​	—	​	​	3.4	​
Deferred tax asset	​	​	51.6	​	​	52.1	​
Other assets	​	​	2.0	​	​	5.3	​
Total assets designated to the Closed Block	​	​	2,671.1	​	​	2,783.2	​
Excess of Closed Block liabilities over assets designated to the Closed Block	​	​	367.3	​	​	389.2	​
Amounts included in accumulated other comprehensive income	​	​	(66.2)	​	​	(69.6)	​
Maximum future earnings to be recognized from Closed Block assets and liabilities	​	$	301.1	​	$	319.6	​

​

Closed Block Revenues and Expenses (Table)

​

​	​	​	​	​	​	​	​	​	​	​
​	​	For the year ended December 31,								​
​		2024			2023			2022
​	​	(in millions)								​
Revenues	​	​	​	​	​	​	​	​	​	​
Premiums and other considerations	​	$	153.0	​	$	166.1	​	$	178.0	​
Net investment income	​	​	130.6	​	​	127.3	​	​	129.1	​
Net realized capital losses	​	​	(11.2)	​	​	(10.0)	​	​	(21.2)	​
Total revenues	​	​	272.4	​	​	283.4	​	​	285.9	​
​	​	​	​	​	​	​	​	​	​	​
Expenses	​	​	​	​	​	​	​	​	​	​
Benefits, claims and settlement expenses	​	​	151.1	​	​	161.6	​	​	184.3	​
Dividends to policyholders	​	​	97.4	​	​	86.8	​	​	92.5	​
Operating expenses	​	​	1.9	​	​	2.6	​	​	2.2	​
Total expenses	​	​	250.4	​	​	251.0	​	​	279.0	​
Closed Block revenues, net of Closed Block expenses, before income taxes	​	​	22.0	​	​	32.4	​	​	6.9	​
Income taxes	​	​	4.2	​	​	6.1	​	​	0.7	​
Closed Block revenues, net of Closed Block expenses and income taxes	​	​	17.8	​	​	26.3	​	​	6.2	​
Funding adjustments and other transfers	​	​	0.7	​	​	(1.4)	​	​	28.5	​
Closed Block revenues, net of Closed Block expenses, income taxes and funding adjustments	​	$	18.5	​	$	24.9	​	$	34.7	​

​

Change in Maximum Future Earnings of the Closed Block (Table)

​

​	​	​	​	​	​	​	​	​	​	​
​	​	For the year ended December 31,								​
​		2024			2023			2022
​	​	(in millions)								​
Beginning of year	​	$	319.6	​	$	344.5	​	$	379.2	​
End of year	​	​	301.1	​	​	319.6	​	​	344.5	​
Change in maximum future earnings	​	$	(18.5)	​	$	(24.9)	​	$	(34.7)	​

​

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-SubTopic 805
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