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DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS (Tables) | 9 Months Ended
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Sep. 30, 2024
Deferred Charges, Insurers [Abstract] |
Schedule of Deferred Policy Acquisition Costs | Changes in deferred acquisition costs were as follows (dollars in millions):
|  | Nine months ended
|  | September 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 |  | 72.7 |  |  | 9.4 |  |  | 47.2 |  |  | 19.3 |  |  | 16.2 |  |  | 28.0 |  |  | 88.1 |  |  | 5.5 |  |  | 286.4 |
Amortization expense |  | (41.7) |  |  | (3.6) |  |  | (25.7) |  |  | (19.9) |  |  | (11.0) |  |  | (11.6) |  |  | (44.3) |  |  | (1.5) |  |  | (159.3) |
End of period |  | $ | 438.6 |  |  | $ | 32.8 |  |  | $ | 429.5 |  |  | $ | 156.9 |  |  | $ | 145.5 |  |  | $ | 250.9 |  |  | $ | 515.7 |  |  | $ | 8.5 |  |  | $ | 1,978.4 |
|  | Nine months ended
|  | September 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 |  | 65.5 |  |  | 8.0 |  |  | 43.8 |  |  | 17.7 |  |  | 11.3 |  |  | 27.5 |  |  | 86.9 |  |  | — |  |  | 260.7 |
Amortization expense |  | (34.1) |  |  | (2.8) |  |  | (23.2) |  |  | (21.0) |  |  | (11.5) |  |  | (10.7) |  |  | (37.9) |  |  | (1.2) |  |  | (142.4) |
End of period |  | $ | 397.0 |  |  | $ | 24.8 |  |  | $ | 399.4 |  |  | $ | 157.9 |  |  | $ | 137.7 |  |  | $ | 229.0 |  |  | $ | 458.1 |  |  | $ | 4.8 |  |  | $ | 1,808.7 |
Schedule of Present Value of Future Insurance Profits | Changes in the present value of future profits were as follows (dollars in millions):
|  | Nine months ended
|  | September 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 |  | (9.3) |  |  | (3.8) |  |  | (.6) |  |  | (1.2) |  |  | (.1) |  |  | — |  |  | (15.0) |
End of period |  | $ | 131.7 |  |  | $ | 16.8 |  |  | $ | 4.6 |  |  | $ | 11.7 |  |  | $ | .6 |  |  | $ | .3 |  |  | $ | 165.7 |
|  | Nine months ended
|  | September 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 |  | (9.8) |  |  | (5.3) |  |  | (.8) |  |  | (1.4) |  |  | (.1) |  |  | (.1) |  |  | (17.5) |
End of period |  | $ | 144.2 |  |  | $ | 22.2 |  |  | $ | 5.4 |  |  | $ | 13.4 |  |  | $ | .7 |  |  | $ | .3 |  |  | $ | 186.2 |
Schedule of Deferred Sale Inducement Cost | Changes in sales inducements were as follows (dollars in millions):
|  | Nine months ended
|  | September 30, 2024
|  | Fixed indexed annuities |  | Fixed interest annuities |  | Total
Beginning of period |  | $ | 88.5 |  |  | $ | 4.6 |  |  | $ | 93.1 |
Capitalizations |  | 40.1 |  |  | .9 |  |  | 41.0 |
Amortization expense |  | (10.9) |  |  | (.7) |  |  | (11.6) |
End of period |  | $ | 117.7 |  |  | $ | 4.8 |  |  | $ | 122.5 |
|  | Nine months ended
|  | September 30, 2023
|  | Fixed indexed annuities |  | Fixed interest annuities |  | Total
Beginning of period |  | $ | 76.0 |  |  | $ | 4.5 |  |  | $ | 80.5 |
Capitalizations |  | 16.3 |  |  | .6 |  |  | 16.9 |
Amortization expense |  | (8.0) |  |  | (.6) |  |  | (8.6) |
End of period |  | $ | 84.3 |  |  | $ | 4.5 |  |  | $ | 88.8 |

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