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Investments - Fixed Maturities (Details) - USD ($) $ in Millions | Mar. 31, 2025 | Dec. 31, 2024 | Mar. 31, 2024 | Dec. 31, 2023
--- | --- | --- | --- | ---
Available-for-sale securities |  |  |  |  |
Amortized cost, fixed maturities |  | $ 74,871.6 | $ 74,048.4 |  |
Gross unrealized gains, fixed maturities |  | 769.6 | 700.3 |  |
Gross unrealized losses, fixed maturities |  | 5,907.5 | 6,479.0 |  |
Allowance, fixed maturities |  | 7.0 | 18.7 | $ 2.8 | $ 4.7
Fair value, fixed maturities | [1] | 69,726.7 | 68,251.0 |  |
Amortized cost, excluding portfolio layer method basis adjustment |  | 74,909.1 | 74,104.1 |  |
Gross unrealized gains, excluding portfolio layer method basis adjustment |  | 732.1 | 644.6 |  |
Gross unrealized losses, excluding portfolio layer method basis adjustment |  | 5,907.5 | 6,479.0 |  |
Allowance, excluding portfolio layer method basis adjustment |  | 7.0 | 18.7 |  |
Fair value, excluding portfolio layer method basis adjustment |  | 69,726.7 | 68,251.0 |  |
Amortized cost, unallocated portfolio layer method basis adjustment |  | (37.5) | (55.7) |  |
Gross unrealized gains, unallocated portfolio layer method basis adjustment |  | 37.5 | 55.7 |  |
Accrued interest receivable |  | 475.6 | 647.3 |  |
U.S. government and agencies |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Amortized cost, fixed maturities |  | 1,895.1 | 1,937.4 |  |
Gross unrealized gains, fixed maturities |  | 10.2 | 0.2 |  |
Gross unrealized losses, fixed maturities |  | 246.7 | 299.7 |  |
Fair value, fixed maturities |  | 1,658.6 | 1,637.9 |  |
Non-U.S. governments |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Amortized cost, fixed maturities |  | 556.0 | 567.3 |  |
Gross unrealized gains, fixed maturities |  | 16.0 | 12.9 |  |
Gross unrealized losses, fixed maturities |  | 78.0 | 84.5 |  |
Fair value, fixed maturities |  | 494.0 | 495.7 |  |
States and political subdivisions |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Amortized cost, fixed maturities |  | 7,241.4 | 7,207.8 |  |
Gross unrealized gains, fixed maturities |  | 14.6 | 10.4 |  |
Gross unrealized losses, fixed maturities |  | 1,063.1 | 1,141.7 |  |
Fair value, fixed maturities |  | 6,192.9 | 6,076.5 |  |
Corporate debt securities |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Amortized cost, fixed maturities |  | 39,581.0 | 38,911.1 |  |
Gross unrealized gains, fixed maturities |  | 566.4 | 509.9 |  |
Gross unrealized losses, fixed maturities |  | 3,469.1 | 3,699.9 |  |
Allowance, fixed maturities |  | 6.8 | 18.5 | 2.7 | 4.6
Fair value, fixed maturities |  | 36,671.5 | 35,702.6 |  |
Residential mortgage-backed pass-through securities |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Amortized cost, fixed maturities |  | 3,907.2 | 3,881.3 |  |
Gross unrealized gains, fixed maturities |  | 21.9 | 8.7 |  |
Gross unrealized losses, fixed maturities |  | 165.4 | 215.8 |  |
Fair value, fixed maturities |  | 3,763.7 | 3,674.2 |  |
Commercial mortgage-backed securities |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Amortized cost, fixed maturities |  | 5,600.3 | 5,634.3 |  |
Gross unrealized gains, fixed maturities |  | 8.2 | 4.6 |  |
Gross unrealized losses, fixed maturities |  | 392.8 | 450.9 |  |
Fair value, fixed maturities |  | 5,215.7 | 5,188.0 |  |
Collateralized debt obligations |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Amortized cost, fixed maturities |  | 6,613.2 | 6,518.7 |  |
Gross unrealized gains, fixed maturities |  | 29.2 | 48.0 |  |
Gross unrealized losses, fixed maturities |  | 8.2 | 6.3 |  |
Fair value, fixed maturities |  | 6,634.2 | 6,560.4 |  |
Other debt obligations |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Amortized cost, fixed maturities |  | 9,514.9 | 9,446.2 |  |
Gross unrealized gains, fixed maturities |  | 65.6 | 49.9 |  |
Gross unrealized losses, fixed maturities |  | 484.2 | 580.2 |  |
Allowance, fixed maturities |  | 0.2 | 0.2 | $ 0.1 | $ 0.1
Fair value, fixed maturities |  | $ 9,096.1 | $ 8,915.7 |  |
[1] | See Note 4, Investments, for further details relating to the amortized cost of fixed maturities, available-for-sale.

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