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DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS (Tables) | 6 Months Ended
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Jun. 30, 2024
Deferred Charges, Insurers [Abstract] |
Schedule of Deferred Policy Acquisition Costs | Changes in deferred acquisition costs were as follows (dollars in millions):
|  | Six months ended
|  | June 30, 2024
|  | Fixed indexed annuities |  | Fixed interest annuities |  | Supplemental health |  | Medicare supplement |  | Long-term care |  | Interest-sensitive life |  | Traditional life |  | Funding agreements |  | Total
Beginning of period |  | $ | 407.6 |  |  | $ | 27.0 |  |  | $ | 408.0 |  |  | $ | 157.5 |  |  | $ | 140.3 |  |  | $ | 234.5 |  |  | $ | 471.9 |  |  | $ | 4.5 |  |  | $ | 1,851.3 |
Capitalizations |  | 46.6 |  |  | 5.9 |  |  | 30.5 |  |  | 12.7 |  |  | 10.5 |  |  | 18.8 |  |  | 59.6 |  |  | 3.1 |  |  | 187.7 |
Amortization expense |  | (26.9) |  |  | (2.3) |  |  | (17.0) |  |  | (13.3) |  |  | (7.3) |  |  | (7.6) |  |  | (29.0) |  |  | (.9) |  |  | (104.3) |
End of period |  | $ | 427.3 |  |  | $ | 30.6 |  |  | $ | 421.5 |  |  | $ | 156.9 |  |  | $ | 143.5 |  |  | $ | 245.7 |  |  | $ | 502.5 |  |  | $ | 6.7 |  |  | $ | 1,934.7 |
|  | Six months ended
|  | June 30, 2023
|  | Fixed indexed annuities |  | Fixed interest annuities |  | Supplemental health |  | Medicare supplement |  | Long-term care |  | Interest-sensitive life |  | Traditional life |  | Funding agreements |  | Total
Beginning of period |  | $ | 365.6 |  |  | $ | 19.6 |  |  | $ | 378.8 |  |  | $ | 161.2 |  |  | $ | 137.9 |  |  | $ | 212.2 |  |  | $ | 409.1 |  |  | $ | 6.0 |  |  | $ | 1,690.4 |
Capitalizations |  | 45.0 |  |  | 5.2 |  |  | 28.4 |  |  | 11.8 |  |  | 7.5 |  |  | 17.9 |  |  | 59.3 |  |  | — |  |  | 175.1 |
Amortization expense |  | (22.4) |  |  | (1.8) |  |  | (15.4) |  |  | (14.1) |  |  | (7.7) |  |  | (7.1) |  |  | (24.7) |  |  | (.8) |  |  | (94.0) |
End of period |  | $ | 388.2 |  |  | $ | 23.0 |  |  | $ | 391.8 |  |  | $ | 158.9 |  |  | $ | 137.7 |  |  | $ | 223.0 |  |  | $ | 443.7 |  |  | $ | 5.2 |  |  | $ | 1,771.5 |
Schedule of Present Value of Future Insurance Profits | Changes in the present value of future profits were as follows (dollars in millions):
|  | Six months ended
|  | June 30, 2024
|  | Supplemental health |  | Medicare supplement |  | Long-term care |  | Traditional life |  | Fixed indexed annuities |  | Fixed interest annuities |  | Total
Beginning of period |  | $ | 141.0 |  |  | $ | 20.6 |  |  | $ | 5.2 |  |  | $ | 12.9 |  |  | $ | .7 |  |  | $ | .3 |  |  | $ | 180.7 |
Amortization expense |  | (6.3) |  |  | (2.7) |  |  | (.4) |  |  | (.8) |  |  | (.1) |  |  | — |  |  | (10.3) |
End of period |  | $ | 134.7 |  |  | $ | 17.9 |  |  | $ | 4.8 |  |  | $ | 12.1 |  |  | $ | .6 |  |  | $ | .3 |  |  | $ | 170.4 |
|  | Six months ended
|  | June 30, 2023
|  | Supplemental health |  | Medicare supplement |  | Long-term care |  | Traditional life |  | Fixed indexed annuities |  | Fixed interest annuities |  | Total
Beginning of period |  | $ | 154.0 |  |  | $ | 27.5 |  |  | $ | 6.2 |  |  | $ | 14.8 |  |  | $ | .8 |  |  | $ | .4 |  |  | $ | 203.7 |
Amortization expense |  | (6.6) |  |  | (3.7) |  |  | (.5) |  |  | (1.0) |  |  | (.1) |  |  | — |  |  | (11.9) |
End of period |  | $ | 147.4 |  |  | $ | 23.8 |  |  | $ | 5.7 |  |  | $ | 13.8 |  |  | $ | .7 |  |  | $ | .4 |  |  | $ | 191.8 |
Schedule of Deferred Sale Inducement Cost | Changes in sales inducements were as follows (dollars in millions):
|  | Six months ended
|  | June 30, 2024
|  | Fixed indexed annuities |  | Fixed interest annuities |  | Total
Beginning of period |  | $ | 88.5 |  |  | $ | 4.6 |  |  | $ | 93.1 |
Capitalizations |  | 26.1 |  |  | .6 |  |  | 26.7 |
Amortization expense |  | (6.8) |  |  | (.5) |  |  | (7.3) |
End of period |  | $ | 107.8 |  |  | $ | 4.7 |  |  | $ | 112.5 |
|  | Six months ended
|  | June 30, 2023
|  | Fixed indexed annuities |  | Fixed interest annuities |  | Total
Beginning of period |  | $ | 76.0 |  |  | $ | 4.5 |  |  | $ | 80.5 |
Capitalizations |  | 11.0 |  |  | .3 |  |  | 11.3 |
Amortization expense |  | (5.2) |  |  | (.4) |  |  | (5.6) |
End of period |  | $ | 81.8 |  |  | $ | 4.4 |  |  | $ | 86.2 |

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