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v3.25.3

Reinsurance (Tables) | 9 Months Ended
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Sep. 30, 2025
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 September 30, | ​ | For the nine months ended September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
​ | ​ | (in millions)
Premiums and other considerations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Direct | ​ | $ | 1,661.4 | ​ | $ | 1,535.6 | ​ | $ | 5,082.9 | ​ | $ | 5,405.4
Ceded | ​ |  | (128.6) | ​ |  | (122.7) | ​ |  | (402.3) | ​ |  | (381.3)
Net premiums and other considerations | ​ | $ | 1,532.8 | ​ | $ | 1,412.9 | ​ | $ | 4,680.6 | ​ | $ | 5,024.1
Benefits, claims and settlement expenses: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Direct | ​ | $ | 2,356.8 | ​ | $ | 2,209.4 | ​ | $ | 7,277.1 | ​ | $ | 7,475.6
Ceded (1) | ​ |  | (392.7) | ​ |  | (431.3) | ​ |  | (1,253.1) | ​ |  | (1,549.9)
Net benefits, claims and settlement expenses | ​ | $ | 1,964.1 | ​ | $ | 1,778.1 | ​ | $ | 6,024.0 | ​ | $ | 5,925.7
LFPB remeasurement loss: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Direct | ​ | $ | 51.8 | ​ | $ | 221.5 | ​ | $ | 46.1 | ​ | $ | 253.9
Ceded (1) | ​ | ​ | 9.1 | ​ | ​ | (99.0) | ​ | ​ | 12.7 | ​ | ​ | 311.7
Net LFPB remeasurement loss | ​ | $ | 60.9 | ​ | $ | 122.5 | ​ | $ | 58.8 | ​ | $ | 565.6
(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) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2025 |  | December 31, 2024
​ | ​ | (in millions)
Cost of reinsurance asset | ​ | $ | 3,126.5 | ​ | $ | 3,187.6
​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of reinsurance liability | ​ | $ | 982.5 | ​ | $ | 958.1
Schedule of assets held in support of reserves associated with coinsurance with funds withheld agreement (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2025 |  | December 31, 2024
​ | ​ | (in millions)
Fixed maturities, available-for-sale | ​ | $ | 13,509.8 | ​ | $ | 13,519.6
Fixed maturities, trading | ​ |  | 320.6 | ​ | ​ | 299.4
Equity securities | ​ |  | 0.3 | ​ | ​ | 0.3
Mortgage loans | ​ |  | 2,074.2 | ​ | ​ | 2,212.4
Other investments | ​ |  | 1,575.2 | ​ | ​ | 1,142.8
Cash and cash equivalents | ​ |  | 658.3 | ​ | ​ | 1,080.1
Accrued interest income | ​ |  | 164.0 | ​ | ​ | 166.2
Net other liabilities | ​ |  | (56.3) | ​ | ​ | (99.4)
Net assets | ​ | $ | 18,246.1 | ​ | $ | 18,321.4
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 nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
​ | ​ | (in millions)
Fixed maturities, available-for-sale | ​ | $ | 1.3 | ​ | $ | (10.8) | ​ | $ | (46.2) | ​ | $ | (52.0)
Fixed maturities, trading | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 0.1 | ​ | ​ | —
Mortgage loans | ​ | ​ | (0.1) | ​ | ​ | (1.8) | ​ | ​ | (1.4) | ​ | ​ | (1.8)
Derivatives | ​ | ​ | (0.4) | ​ | ​ | (0.5) | ​ | ​ | (2.1) | ​ | ​ | 1.3
Net realized capital gains (losses) | ​ | $ | 0.8 | ​ | $ | (13.1) | ​ | $ | (49.6) | ​ | $ | (52.5)
​

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