XML 78 R66.htm IDEA: XBRL DOCUMENT v3.24.2.u1
BUSINESS SEGMENTS - SCHEDULE OF SEGMENT REPORTING INFORMATION BY SEGMENT (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Insurance policy income $ 641.5 $ 628.3 $ 1,269.9 $ 1,253.8
Total segment revenues 1,074.3 1,039.9 2,211.0 2,040.4
Expenses:        
Insurance policy benefits 568.8 565.9 1,200.2 1,175.6
Interest expense 64.2 57.6 124.4 112.3
Other expenses 251.4 256.5 529.7 528.2
Total segment expenses 925.7 958.7 1,987.6 1,882.8
Operating earnings before taxes 148.6 81.2 223.4 157.6
Income tax expense on operating income 34.0 18.9 51.3 36.7
Net operating income 114.6 62.3 172.1 120.9
Operating Segments        
Revenues:        
Total segment revenues 1,074.3 1,039.9 2,211.0 2,040.4
Expenses:        
Total segment expenses 925.7 958.7 1,987.6 1,882.8
Insurance Product Lines        
Expenses:        
Allocated expenses 154.6 149.5 316.2 307.0
Total insurance product margin 275.1 223.2 504.7 444.4
Operating earnings before taxes 120.5 73.7 188.5 137.4
Investment income not allocated to product lines        
Revenues:        
Change in market values of the underlying options supporting the fixed indexed annuity and life products (offset by market value changes credited to policyholder balances) 38.9 62.3 178.6 80.9
Investment income not allocated to product lines 108.3 80.3 179.9 148.1
Expenses:        
Interest credited 10.4 7.2 17.6 14.4
Market value changes of options credited to fixed indexed annuity and life policyholders 38.9 62.3 178.6 80.9
Interest expense 54.4 39.8 102.7 77.2
Impact of annual option forfeitures related to fixed indexed annuity surrenders (6.0) (1.4) (12.2) (1.4)
Amortization 0.5 0.4 0.9 0.8
Other expenses 4.2 6.3 13.8 13.6
Total insurance product margin 44.8 28.0 57.1 43.5
Fee revenue        
Revenues:        
Fee revenue 32.0 29.4 82.5 80.7
Expenses:        
Commissions and other operating expenses 31.2 28.8 70.4 64.6
Total insurance product margin 0.8 0.6 12.1 16.1
Amounts netted in expenses not allocated to product lines        
Revenues:        
Amounts netted in expenses not allocated to product lines 1.3 1.5 2.5 3.1
Expenses:        
Expenses not allocated to product lines 18.8 22.6 36.8 42.5
Total insurance product margin (17.5) (21.1) (34.3) (39.4)
Annuity: | Insurance Product Lines        
Revenues:        
Insurance policy income 9.3 8.1 16.6 13.2
Net investment income 140.5 127.7 275.0 253.1
Total insurance product line revenue 149.8 135.8 291.6 266.3
Expenses:        
Insurance policy benefits (8.4) 10.6 2.9 19.3
Interest credited 61.2 50.6 119.5 98.7
Amortization, non-deferred commissions and advertising expense 20.9 17.5 41.1 33.9
Total expenses 73.7 78.7 163.5 151.9
Total insurance product margin 76.1 57.1 128.1 114.4
Health: | Insurance Product Lines        
Revenues:        
Insurance policy income 403.6 397.1 802.0 798.5
Net investment income 75.1 74.3 149.4 148.3
Total insurance product line revenue 478.7 471.4 951.4 946.8
Expenses:        
Insurance policy benefits 302.3 322.7 610.8 640.8
Amortization, non-deferred commissions and advertising expense 40.5 40.5 81.7 81.3
Total expenses 342.8 363.2 692.5 722.1
Total insurance product margin 135.9 108.2 258.9 224.7
Life: | Insurance Product Lines        
Revenues:        
Insurance policy income 228.6 223.1 451.3 442.1
Net investment income 36.7 36.1 73.2 72.4
Total insurance product line revenue 265.3 259.2 524.5 514.5
Expenses:        
Insurance policy benefits 144.6 142.8 288.6 290.0
Interest credited 12.4 12.2 24.9 24.3
Amortization, non-deferred commissions and advertising expense 45.2 46.3 93.3 94.9
Total expenses 202.2 201.3 406.8 409.2
Total insurance product margin 63.1 57.9 117.7 105.3
Allocated expenses | Insurance Product Lines        
Expenses:        
Total insurance product margin $ (154.6) $ (149.5) $ (316.2) $ (307.0)