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v3.25.1

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS (Tables) | 3 Months Ended
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Mar. 31, 2025
Deferred Charges, Insurers [Abstract] |
Schedule of Deferred Policy Acquisition Costs | Changes in deferred acquisition costs were as follows (dollars in millions):
|  | Three months ended
|  | March 31, 2025
|  | Fixed indexed annuities |  | Fixed interest annuities |  | Supplemental health |  | Medicare supplement |  | Long-term care |  | Interest-sensitive life |  | Traditional life |  | Funding agreements |  | Total
Beginning of period |  | $ | 450.0 |  |  | $ | 35.9 |  |  | $ | 438.1 |  |  | $ | 157.4 |  |  | $ | 148.6 |  |  | $ | 256.0 |  |  | $ | 529.5 |  |  | $ | 9.9 |  |  | $ | 2,025.4 |
Capitalizations |  | 24.6 |  |  | 3.5 |  |  | 17.9 |  |  | 7.2 |  |  | 6.9 |  |  | 8.5 |  |  | 30.7 |  |  | — |  |  | 99.3 |
Amortization expense |  | (15.6) |  |  | (1.6) |  |  | (9.2) |  |  | (6.3) |  |  | (3.8) |  |  | (4.1) |  |  | (16.4) |  |  | (0.8) |  |  | (57.8) |
End of period |  | $ | 459.0 |  |  | $ | 37.8 |  |  | $ | 446.8 |  |  | $ | 158.3 |  |  | $ | 151.7 |  |  | $ | 260.4 |  |  | $ | 543.8 |  |  | $ | 9.1 |  |  | $ | 2,066.9 |
|  | Three months ended
|  | March 31, 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 |  | 22.3 |  |  | 3.0 |  |  | 15.0 |  |  | 6.3 |  |  | 5.2 |  |  | 9.3 |  |  | 29.5 |  |  | — |  |  | 90.6 |
Amortization expense |  | (13.4) |  |  | (1.1) |  |  | (8.4) |  |  | (6.7) |  |  | (3.7) |  |  | (3.8) |  |  | (14.3) |  |  | (0.4) |  |  | (51.8) |
End of period |  | $ | 416.5 |  |  | $ | 28.9 |  |  | $ | 414.6 |  |  | $ | 157.1 |  |  | $ | 141.8 |  |  | $ | 240.0 |  |  | $ | 487.1 |  |  | $ | 4.1 |  |  | $ | 1,890.1 |
Schedule of Present Value of Future Insurance Profits | Changes in the present value of future profits were as follows (dollars in millions):
|  | Three months ended
|  | March 31, 2025
|  | Supplemental health |  | Medicare supplement |  | Long-term care |  | Traditional life |  | Fixed indexed annuities |  | Fixed interest annuities |  | Total
Beginning of period |  | $ | 128.8 |  |  | $ | 15.7 |  |  | $ | 4.4 |  |  | $ | 11.3 |  |  | $ | 0.5 |  |  | $ | 0.3 |  |  | $ | 161.0 |
Amortization expense |  | (2.9) |  |  | (1.0) |  |  | (0.2) |  |  | (0.4) |  |  | — |  |  | — |  |  | (4.5) |
End of period |  | $ | 125.9 |  |  | $ | 14.7 |  |  | $ | 4.2 |  |  | $ | 10.9 |  |  | $ | 0.5 |  |  | $ | 0.3 |  |  | $ | 156.5 |
|  | Three months ended
|  | March 31, 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 |  |  | $ | 0.7 |  |  | $ | 0.3 |  |  | $ | 180.7 |
Amortization expense |  | (3.1) |  |  | (1.4) |  |  | (0.2) |  |  | (0.4) |  |  | (0.1) |  |  | — |  |  | (5.2) |
End of period |  | $ | 137.9 |  |  | $ | 19.2 |  |  | $ | 5.0 |  |  | $ | 12.5 |  |  | $ | 0.6 |  |  | $ | 0.3 |  |  | $ | 175.5 |
Schedule of Deferred Sale Inducement Cost | Changes in sales inducements were as follows (dollars in millions):
|  | Three months ended
|  | March 31, 2025
|  | Fixed indexed annuities |  | Fixed interest annuities |  | Total
Beginning of period |  | $ | 128.1 |  |  | $ | 5.1 |  |  | $ | 133.2 |
Capitalizations |  | 14.3 |  |  | 0.6 |  |  | 14.9 |
Amortization expense |  | (4.8) |  |  | (0.3) |  |  | (5.1) |
End of period |  | $ | 137.6 |  |  | $ | 5.4 |  |  | $ | 143.0 |
|  | Three months ended
|  | March 31, 2024
|  | Fixed indexed annuities |  | Fixed interest annuities |  | Total
Beginning of period |  | $ | 88.5 |  |  | $ | 4.6 |  |  | $ | 93.1 |
Capitalizations |  | 12.3 |  |  | 0.3 |  |  | 12.6 |
Amortization expense |  | (3.3) |  |  | (0.2) |  |  | (3.5) |
End of period |  | $ | 97.5 |  |  | $ | 4.7 |  |  | $ | 102.2 |

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