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v3.25.2

Segment Information - Reconciliation of Segment Expenses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2025 | Jun. 30, 2024 | Jun. 30, 2025 | Jun. 30, 2024
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items] |  |  |  |
Benefits, claims and settlement expenses | $ 1,839.9 | $ 2,077.9 | $ 4,059.9 | $ 4,147.6
Liability for future policy benefit remeasurement (gain) loss | 4.3 | (444.8) | 2.1 | (443.1)
Market risk benefit remeasurement (gain) loss | (14.3) | 0.4 | (49.0) | 14.9
Dividends to policyholders | 22.9 | 23.9 | 42.0 | 53.2
Operating expenses | 1,295.4 | 1,320.7 | 2,686.4 | 2,664.1
Total expenses | 3,168.2 | 3,866.9 | 6,835.2 | 7,293.1
Operating Segments |  |  |  |
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items] |  |  |  |
Total segment expenses | 3,092.8 | 3,584.8 | 6,616.8 | 6,915.0
Operating Segments | Retirement and Income Solutions |  |  |  |
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items] |  |  |  |
Benefits, claims and settlement expenses | 1,006.2 | 1,490.8 | 2,360.1 | 2,734.1
Liability for future policy benefit remeasurement (gain) loss | (3.6) | (0.4) | (8.4) | (2.8)
Market risk benefit remeasurement (gain) loss | 1.8 | 2.9 | 3.7 | 3.0
Dividends to policyholders |  | 0.1 |  | 0.1
Commission expense | 72.5 | 61.9 | 142.0 | 120.7
Capitalization of deferred acquisition costs and contract costs | (40.5) | (28.5) | (81.4) | (57.7)
Amortization of deferred acquisition costs and contract costs | 21.1 | 20.1 | 42.2 | 40.1
Depreciation and amortization | 18.7 | 19.6 | 38.1 | 40.3
Compensation and other | 350.0 | 360.0 | 720.8 | 718.9
Operating expenses | 421.8 | 433.1 | 861.7 | 862.3
Total segment expenses | 1,426.2 | 1,926.5 | 3,217.1 | 3,596.7
Operating Segments | Principal Asset Management |  |  |  |
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items] |  |  |  |
Benefits, claims and settlement expenses | 82.2 | 103.8 | 172.8 | 178.3
Liability for future policy benefit remeasurement (gain) loss | (0.6) | (0.1) | (0.1) | (0.1)
Commission expense | 48.2 | 45.2 | 96.3 | 90.7
Capitalization of deferred acquisition costs and contract costs | (8.4) | (5.6) | (16.1) | (12.5)
Amortization of deferred acquisition costs and contract costs | 6.4 | 8.9 | 12.2 | 16.9
Depreciation and amortization | 13.9 | 16.3 | 27.8 | 33.8
Interest expense on corporate debt | 0.4 | 0.8 | 0.9 | 1.8
Compensation and other | 321.0 | 321.5 | 663.8 | 648.1
Operating expenses | 381.5 | 387.1 | 784.9 | 778.8
Total segment expenses | 463.1 | 490.8 | 957.6 | 957.0
Operating Segments | Benefits and Protection |  |  |  |
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items] |  |  |  |
Benefits, claims and settlement expenses | 719.1 | 628.4 | 1,418.4 | 1,310.3
Liability for future policy benefit remeasurement (gain) loss | (3.7) | 48.3 | (4.1) | 54.6
Dividends to policyholders | 22.9 | 23.8 | 42.0 | 53.1
Commission expense | 135.7 | 131.9 | 286.7 | 273.7
Capitalization of deferred acquisition costs and contract costs | (74.4) | (77.8) | (161.7) | (164.2)
Amortization of deferred acquisition costs and contract costs | 64.4 | 62.8 | 128.4 | 125.4
Depreciation and amortization | 4.4 | 5.2 | 8.7 | 11.1
Compensation and other | 230.3 | 232.3 | 475.0 | 465.0
Operating expenses | 360.4 | 354.4 | 737.1 | 711.0
Total segment expenses | 1,098.7 | 1,054.9 | 2,193.4 | 2,129.0
Operating Segments | Corporate |  |  |  |
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items] |  |  |  |
Benefits, claims and settlement expenses | (0.8) | (2.0) | 22.8 | 8.2
Commission expense | 24.9 | 19.7 | 48.7 | 37.3
Depreciation and amortization | 4.2 | 4.4 | 8.3 | 9.0
Interest expense on corporate debt | 45.2 | 41.7 | 87.4 | 83.4
Compensation and other | 31.3 | 48.8 | 81.5 | 94.4
Operating expenses | 105.6 | 114.6 | 225.9 | 224.1
Total segment expenses | 104.8 | 112.6 | 248.7 | 232.3
Reconciling items |  |  |  |
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items] |  |  |  |
Net realized capital gains (losses) expense adjustments | 37.4 | 44.8 | 65.2 | 107.4
Market risk benefit derivative settlements | (11.0) | (11.4) | (22.1) | (22.7)
Expenses from exited business | 49.0 | 248.7 | 175.3 | 293.4
Total expenses | $ 3,168.2 | $ 3,866.9 | $ 6,835.2 | $ 7,293.1

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- Definition Amount of remeasurement gain (loss) on liability for future policy benefit from application of revised benefit ratio as of contract issue. Includes, but is not limited to, remeasurement gain (loss) for annuitization insurance benefit, death and other insurance benefits, and traditional and limited-payment contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480112/944-40-45-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480112/944-40-45-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480112/944-40-45-4 + Details
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- Definition Amount of gain (loss) from (increase) decrease in fair value of contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. Excludes change attributable to instrument-specific credit risk. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480112/944-40-45-3 + Details
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