XML 86 R71.htm IDEA: XBRL DOCUMENT v3.25.0.1
FAIR VALUE MEASUREMENTS - FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS MEASURED ON A RECURRING BASIS - SECURITIES (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Estimated fair value $ 22,840.5 $ 21,506.2
Equity securities - corporate securities 162.0 96.9
Trading securities 304.2 222.7
Investments held by variable interest entities 432.3 768.6
Total other invested assets 1,491.5 1,353.4
Assets held in separate accounts 3.3 3.1
Liabilities:    
Market risk benefit liability 60.0 117.1
Significant unobservable inputs  (Level 3)    
Assets:    
Total assets carried at fair value by category 324.7 302.1
Fair value, Measurements, Recurring    
Assets:    
Trading securities 304.2 222.7
Investments held by variable interest entities 432.3 768.6
Derivatives 279.0 239.2
Residual tranches 96.9 39.0
Total other invested assets 375.9 278.2
Assets held in separate accounts 3.3 3.1
Total assets carried at fair value by category 24,118.2 22,875.7
Liabilities:    
Market risk benefit liability 60.0 117.1
Embedded derivatives associated with fixed indexed annuity products 1,493.2 1,376.7
Total liabilities carried at fair value by category 1,553.2 1,493.8
Fair value, Measurements, Recurring | Corporate securities    
Assets:    
Estimated fair value 12,151.1 11,837.5
Equity securities - corporate securities 162.0 96.9
Fair value, Measurements, Recurring | Certificates of deposit    
Assets:    
Estimated fair value 488.3 0.0
Fair value, Measurements, Recurring | United States Treasury securities and obligations of United States government corporations and agencies    
Assets:    
Estimated fair value 186.2 194.4
Fair value, Measurements, Recurring | States and political subdivisions    
Assets:    
Estimated fair value 2,834.3 2,566.7
Fair value, Measurements, Recurring | Foreign governments    
Assets:    
Estimated fair value 91.2 83.1
Fair value, Measurements, Recurring | Asset-backed securities    
Assets:    
Estimated fair value 1,516.4 1,372.4
Trading securities 40.6 32.8
Fair value, Measurements, Recurring | Agency residential mortgage-backed securities    
Assets:    
Estimated fair value 819.6 648.0
Trading securities 97.1 3.5
Fair value, Measurements, Recurring | Non-agency residential mortgage-backed securities    
Assets:    
Estimated fair value 1,539.1 1,553.2
Trading securities 53.3 58.5
Fair value, Measurements, Recurring | Collateralized loan obligations    
Assets:    
Estimated fair value 1,016.8 1,032.8
Trading securities 9.5 9.0
Fair value, Measurements, Recurring | Commercial mortgage-backed securities    
Assets:    
Estimated fair value 2,197.5 2,218.1
Trading securities 103.7 118.9
Fair value, Measurements, Recurring | Total fixed maturities, available for sale    
Assets:    
Estimated fair value 22,840.5 21,506.2
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1)    
Assets:    
Trading securities 0.0 0.0
Investments held by variable interest entities 0.0 0.0
Derivatives 0.0 0.0
Residual tranches 0.0 0.0
Total other invested assets 0.0 0.0
Assets held in separate accounts 0.0 0.0
Total assets carried at fair value by category 64.0 24.2
Liabilities:    
Market risk benefit liability 0.0 0.0
Embedded derivatives associated with fixed indexed annuity products 0.0 0.0
Total liabilities carried at fair value by category 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Corporate securities    
Assets:    
Estimated fair value 0.0 0.0
Equity securities - corporate securities 64.0 24.2
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Certificates of deposit    
Assets:    
Estimated fair value 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | United States Treasury securities and obligations of United States government corporations and agencies    
Assets:    
Estimated fair value 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | States and political subdivisions    
Assets:    
Estimated fair value 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Foreign governments    
Assets:    
Estimated fair value 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Asset-backed securities    
Assets:    
Estimated fair value 0.0 0.0
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Agency residential mortgage-backed securities    
Assets:    
Estimated fair value 0.0 0.0
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Non-agency residential mortgage-backed securities    
Assets:    
Estimated fair value 0.0 0.0
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Collateralized loan obligations    
Assets:    
Estimated fair value 0.0 0.0
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Commercial mortgage-backed securities    
Assets:    
Estimated fair value 0.0 0.0
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Total fixed maturities, available for sale    
Assets:    
Estimated fair value 0.0 0.0
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Assets:    
Trading securities 304.2 222.7
Investments held by variable interest entities 432.3 768.6
Derivatives 279.0 239.2
Residual tranches 1.5 7.5
Total other invested assets 280.5 246.7
Assets held in separate accounts 3.3 3.1
Total assets carried at fair value by category 23,729.5 22,549.4
Liabilities:    
Market risk benefit liability 0.0 0.0
Embedded derivatives associated with fixed indexed annuity products 0.0 0.0
Total liabilities carried at fair value by category 0.0 0.0
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Corporate securities    
Assets:    
Estimated fair value 12,023.1 11,678.2
Equity securities - corporate securities 24.6 0.0
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Certificates of deposit    
Assets:    
Estimated fair value 488.3 0.0
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | United States Treasury securities and obligations of United States government corporations and agencies    
Assets:    
Estimated fair value 186.2 194.4
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | States and political subdivisions    
Assets:    
Estimated fair value 2,834.3 2,566.7
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Foreign governments    
Assets:    
Estimated fair value 91.2 83.1
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Asset-backed securities    
Assets:    
Estimated fair value 1,496.6 1,346.9
Trading securities 40.6 32.8
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Agency residential mortgage-backed securities    
Assets:    
Estimated fair value 819.6 648.0
Trading securities 97.1 3.5
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Non-agency residential mortgage-backed securities    
Assets:    
Estimated fair value 1,539.1 1,553.2
Trading securities 53.3 58.5
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Collateralized loan obligations    
Assets:    
Estimated fair value 1,012.8 1,032.8
Trading securities 9.5 9.0
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Commercial mortgage-backed securities    
Assets:    
Estimated fair value 2,193.4 2,205.0
Trading securities 103.7 118.9
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Total fixed maturities, available for sale    
Assets:    
Estimated fair value 22,684.6 21,308.3
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3)    
Assets:    
Trading securities 0.0 0.0
Investments held by variable interest entities 0.0 0.0
Derivatives 0.0 0.0
Residual tranches 95.4 31.5
Total other invested assets 95.4 31.5
Assets held in separate accounts 0.0 0.0
Total assets carried at fair value by category 324.7 302.1
Liabilities:    
Market risk benefit liability 60.0 117.1
Embedded derivatives associated with fixed indexed annuity products 1,493.2 1,376.7
Total liabilities carried at fair value by category 1,553.2 1,493.8
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Corporate securities    
Assets:    
Estimated fair value 128.0 159.3
Equity securities - corporate securities 73.4 72.7
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Certificates of deposit    
Assets:    
Estimated fair value 0.0 0.0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | United States Treasury securities and obligations of United States government corporations and agencies    
Assets:    
Estimated fair value 0.0 0.0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | States and political subdivisions    
Assets:    
Estimated fair value 0.0 0.0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Foreign governments    
Assets:    
Estimated fair value 0.0 0.0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Asset-backed securities    
Assets:    
Estimated fair value 19.8 25.5
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Agency residential mortgage-backed securities    
Assets:    
Estimated fair value 0.0 0.0
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Non-agency residential mortgage-backed securities    
Assets:    
Estimated fair value 0.0 0.0
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Collateralized loan obligations    
Assets:    
Estimated fair value 4.0 0.0
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Commercial mortgage-backed securities    
Assets:    
Estimated fair value 4.1 13.1
Trading securities 0.0 0.0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Total fixed maturities, available for sale    
Assets:    
Estimated fair value $ 155.9 $ 197.9