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Other Comprehensive Income and Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended
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Jun. 30, 2024
Statement of Comprehensive Income [Abstract] |
Schedule of Comprehensive Income | The tables below display the changes in Accumulated Other Comprehensive Loss by component for the three months ended June 30, 2024 and 2023.
(Dollars in Millions) |  | Net Unrealized Losses on Fixed Maturities |  | Net Unrealized Losses on Investments with an Allowance for Credit Losses |  | Net Unrecognized Postretirement Benefit Income |  | Gain (Loss) on Cash Flow Hedges |  | Change in Discount Rate on Future Life Policyholder Benefits |  | Total
Balance as of March 31, 2024 |  | $ | (617.2) |  |  | $ | (1.1) |  |  | $ | 8.7 |  |  | $ | 2.5 |  |  | $ | 272.1 |  |  | $ | (335.0) |
Other Comprehensive (Loss) Income Before Reclassifications |  | (61.4) |  |  | (2.3) |  |  | — |  |  | (2.8) |  |  | 85.9 |  |  | 19.4 |
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax Benefit of $0.3, $0.0, $0.4, $0.0, $0.0 and $0.7 |  | (1.0) |  |  | (0.3) |  |  | (0.4) |  |  | — |  |  | — |  |  | (1.7) |
Other Comprehensive (Loss) Income Net of Tax Benefit (Expense) of $16.8, $0.4, $0.4, $0.8, $(22.9), and $(4.5) |  | (62.4) |  |  | (2.6) |  |  | (0.4) |  |  | (2.8) |  |  | 85.9 |  |  | 17.7 |
Balance as of June 30, 2024 |  | $ | (679.6) |  |  | $ | (3.7) |  |  | $ | 8.3 |  |  | $ | (0.3) |  |  | $ | 358.0 |  |  | $ | (317.3) |
(Dollars in Millions) |  | Net Unrealized Losses on Fixed Maturities |  | Net Unrealized Losses on Investments with an Allowance for Credit Losses |  | Net Unrecognized Postretirement Benefit Costs |  | Gain on Cash Flow Hedges |  | Change in Discount Rate on Future Life Policyholder Benefits |  | Total
Balance as of March 31, 2023 |  | $ | (572.0) |  |  | $ | (2.2) |  |  | $ | (37.6) |  |  | $ | 2.7 |  |  | $ | 154.4 |  |  | $ | (454.7) |
Other Comprehensive (Loss) Income Before Reclassifications |  | (72.1) |  |  | — |  |  | — |  |  | — |  |  | 40.0 |  |  | (32.1) |
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax (Expense) Benefit of $(1.8), $0.0,$0.4, $(0.1), $0.0, and $(1.5) |  | 6.5 |  |  | (0.1) |  |  | (0.4) |  |  | — |  |  | — |  |  | 6.0 |
Other Comprehensive (Loss) Income Net of Tax Benefit (Expense) of $19.4, $0.0, $0.0, $0.0 $(10.6) and $8.8 |  | (65.6) |  |  | (0.1) |  |  | (0.4) |  |  | — |  |  | 40.0 |  |  | (26.1) |
Balance as of June 30, 2023 |  | $ | (637.6) |  |  | $ | (2.3) |  |  | $ | (38.0) |  |  | $ | 2.7 |  |  | $ | 194.4 |  |  | $ | (480.8) |
The tables below display the changes in Accumulated Other Comprehensive Loss by component for the six months ended June 30, 2024 and 2023.
(Dollars in Millions) |  | Net Unrealized Losses on Fixed Maturities |  | Net Unrealized Losses on Investments with an Allowance for Credit Losses |  | Net Unrecognized Postretirement Benefit Income |  | Gain (Loss) on Cash Flow Hedges |  | Change in Discount Rate on Future Life Policyholder Benefits |  | Total
Balance as of January 1, 2024 |  | $ | (530.9) |  |  | $ | (2.5) |  |  | $ | 9.5 |  |  | $ | 2.5 |  |  | $ | 160.6 |  |  | (360.8) |
Other Comprehensive (Loss) Income Before Reclassifications |  | (157.5) |  |  | (0.7) |  |  | — |  |  | (2.8) |  |  | 197.4 |  |  | 36.4 |
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax (Expense) Benefit of $(2.3), $0.2, $0.5, $0.0, $0.0 and $(1.6) |  | 8.8 |  |  | (0.5) |  |  | (1.2) |  |  | — |  |  | — |  |  | 7.1 |
Other Comprehensive (Loss) Income Net of Tax Benefit (Expense) of $39.5, $0.5, $0.5, $0.8, $(52.5), and $(11.2) |  | (148.7) |  |  | (1.2) |  |  | (1.2) |  |  | (2.8) |  |  | 197.4 |  |  | 43.5 |
Balance as of June 30, 2024 |  | $ | (679.6) |  |  | $ | (3.7) |  |  | $ | 8.3 |  |  | $ | (0.3) |  |  | $ | 358.0 |  |  | $ | (317.3) |
(Dollars in Millions) |  | Net Unrealized (Losses) Gains on Fixed Maturities |  | Net Unrealized Losses on Investments with an Allowance for Credit Losses |  | Net Unrecognized Postretirement Benefit Costs |  | Gain on Cash Flow Hedges |  | Change in Discount Rate on Future Life Policyholder Benefits |  | Total
Balance as of January 1, 2023 |  | $ | (719.4) |  |  | $ | (2.2) |  |  | $ | (37.2) |  |  | $ | 2.8 |  |  | $ | 241.1 |  |  | $ | (514.9) |
Other Comprehensive Income (Loss) Before Reclassifications |  | 75.4 |  |  | 1.4 |  |  | — |  |  | — |  |  | (46.7) |  |  | 30.1 |
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax (Expense) Benefit of $(1.8), $0.4, $0.3, $0.0, $0.0 and $(1.1) |  | 6.4 |  |  | (1.5) |  |  | (0.8) |  |  | (0.1) |  |  | — |  |  | 4.0 |
Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $(20.4), $(0.4), $0.0, $0.0, $12.5, and $(8.3) |  | 81.8 |  |  | (0.1) |  |  | (0.8) |  |  | (0.1) |  |  | (46.7) |  |  | 34.1 |
Balance as of June 30, 2023 |  | $ | (637.6) |  |  | $ | (2.3) |  |  | $ | (38.0) |  |  | $ | 2.7 |  |  | $ | 194.4 |  |  | $ | (480.8) |
Amounts reclassified from Accumulated Other Comprehensive Loss shown above are reported in Net Income (Loss) as follows:
Components of AOCI | Condensed Consolidated Statements of Income (Loss) Line Item Affected by Reclassifications
Net Unrealized Losses on Other Investments and Net Unrealized Losses on Investments with an Allowance for Credit Losses | Net Realized Investment Gains (Losses) and Impairment Losses
Net Unrecognized Postretirement Benefit Income (Costs) | Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses, Insurance Expenses, and Interest and Other Expenses
Gains on Cash Flow Hedges | Net Investment Income and Interest and Other Expenses

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1 + Details
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