XML 73 R57.htm IDEA: XBRL DOCUMENT v3.23.3
Long-Duration Insurance Contracts - Balances of and Changes in the LFPB (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2023
Dec. 31, 2022
Dec. 31, 2021
Jun. 30, 2023
Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Liability for future policy benefits $ 1,613.4 $ 1,613.4 $ 1,718.0      
Previously Reported            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Liability for future policy benefits          
Whole Life            
Present Value of Expected Net Premiums            
Beginning balance 217.5 215.1 183.0 $ 176.5    
Beginning period (including reserves)       260.7    
Beginning balance at original discount rate 247.0 245.9 157.6 143.5    
Beginning balance at original discount rate (including reserves)     239.3      
Change in cash flow assumptions     0.0 5.2 $ 0.0 $ 2.4
Actual variances from expected experience     2.6 7.2 0.8 8.8
Adjusted balance     248.5 251.7 247.8 154.7
Issuances 2.2 7.6 12.5 13.3    
Interest accruals 1.8 5.4 6.7 6.2    
Net premiums collected (5.2) (14.9) (25.0) (16.6)    
Ending balance at original discount rate 246.6 246.6 245.9 157.6    
Effect of changes in discount rate assumptions (41.7) (41.7) (30.8) 25.4    
Ending balance 204.9 204.9 215.1 183.0    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Beginning balance 507.1 493.6 500.7 507.1    
Beginning balance (including reserves)     660.4      
Beginning balance at original discount rate 591.2 591.2 581.9 386.3 588.7 362.5
Beginning balance at original discount rate (including reserves)     566.1      
Changes in cash flow assumptions     0.0 5.2 0.0 2.8
Actual variances from expected experience     2.7 7.7 0.8 8.7
Adjusted balance     584.6 579.0 589.5 374.0
Issuances 2.2 7.7 12.4 13.3    
Interest accruals 4.8 14.2 18.0 17.1    
Benefit payments (5.3) (15.3) (27.5) (18.1)    
Ending balance at original discount rate 591.2 591.2 581.9 386.3    
Effect of changes in discount rate assumptions (123.5) (123.5) (88.3) 114.4    
Ending balance 467.7 467.7 493.6 500.7    
Ending balance (including reserves)       660.4    
Liability for future policy benefits 262.7 262.7 278.4 317.7   330.6
Less: Reinsurance recoverable (58.1) (58.1) (63.1) (0.5)   (0.1)
Less: Change in discount rate assumptions           (0.2)
Net liability for future policy benefits, after reinsurance recoverable 204.6 204.6 215.3      
Impact of flooring on net liability for future policy benefits 0.5 0.5 1.1      
Net liability for future policy benefits at September 30, 2023 205.1 205.1 216.4 317.2   330.3
Whole Life | Previously Reported            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Liability for future policy benefits           218.7
Whole Life | Change in discount rate assumptions            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           111.5
Whole Life | Change in cash flow assumptions, effect of net premiums exceeding gross premiums            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.4
Whole Life | Change in cash flow assumptions, effect of decrease of the DPL            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Whole Life | Adjustment for removal of related balances in AOCI            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Term Life            
Present Value of Expected Net Premiums            
Beginning balance 240.3 234.7 253.1 244.1    
Beginning period (including reserves)       264.4    
Beginning balance at original discount rate 265.1 265.4 221.1 200.8    
Beginning balance at original discount rate (including reserves)     235.4      
Change in cash flow assumptions     (5.3) 18.7 0.0 (4.5)
Actual variances from expected experience     (2.2) (4.2) (1.2) 6.9
Adjusted balance     257.9 249.9 263.9 203.2
Issuances 6.0 19.0 28.0 29.8    
Interest accruals 2.6 7.8 9.0 7.9    
Net premiums collected (6.3) (18.5) (21.5) (19.8)    
Ending balance at original discount rate 266.2 266.2 265.4 221.1    
Effect of changes in discount rate assumptions (38.1) (38.1) (30.7) 32.0    
Ending balance 228.1 228.1 234.7 253.1    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Beginning balance 360.6 347.0 370.6 364.7    
Beginning balance (including reserves)     411.5      
Beginning balance at original discount rate 411.4 411.4 401.0 319.5 406.4 294.0
Beginning balance at original discount rate (including reserves)     360.0      
Changes in cash flow assumptions     (5.6) 21.5 0.0 (4.8)
Actual variances from expected experience     0.4 (4.7) (0.3) 7.2
Adjusted balance     395.8 376.8 406.1 296.4
Issuances 6.4 19.6 28.3 29.8    
Interest accruals 3.9 11.4 14.4 12.0    
Benefit payments (5.0) (15.4) (18.5) (18.7)    
Ending balance at original discount rate 411.4 411.4 401.0 319.5    
Effect of changes in discount rate assumptions (71.0) (71.0) (54.0) 51.1    
Ending balance 340.4 340.4 347.0 370.6    
Ending balance (including reserves)       411.5    
Liability for future policy benefits 112.4 112.4 112.2 117.6   120.5
Less: Reinsurance recoverable (16.9) (16.9) (15.3) (5.5)   (5.4)
Less: Change in discount rate assumptions           (0.9)
Net liability for future policy benefits, after reinsurance recoverable 95.5 95.5 96.9      
Impact of flooring on net liability for future policy benefits 0.1 0.1 0.2      
Net liability for future policy benefits at September 30, 2023 95.6 95.6 97.1 112.1   114.2
Term Life | Previously Reported            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Liability for future policy benefits           93.2
Term Life | Change in discount rate assumptions            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           27.3
Term Life | Change in cash flow assumptions, effect of net premiums exceeding gross premiums            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Term Life | Change in cash flow assumptions, effect of decrease of the DPL            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Term Life | Adjustment for removal of related balances in AOCI            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Experience Life            
Present Value of Expected Net Premiums            
Beginning balance 68.1 68.3 74.6 78.0    
Beginning period (including reserves)       74.6    
Beginning balance at original discount rate 64.7 65.5 55.8 55.2    
Beginning balance at original discount rate (including reserves)     55.9      
Change in cash flow assumptions     0.0 9.1 0.0 (3.3)
Actual variances from expected experience     1.4 3.0 0.7 6.3
Adjusted balance     66.9 68.0 65.4 58.2
Issuances 0.0 0.0 0.0 0.0    
Interest accruals 1.0 2.8 3.3 3.2    
Net premiums collected (1.7) (5.0) (5.8) (5.6)    
Ending balance at original discount rate 64.7 64.7 65.5 55.8    
Effect of changes in discount rate assumptions (0.4) (0.4) 2.8 18.8    
Ending balance 64.3 64.3 68.3 74.6    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Beginning balance 871.5 867.5 1,172.7 1,269.3    
Beginning balance (including reserves)     1,172.7      
Beginning balance at original discount rate 796.4 796.4 805.2 802.5 799.6 813.5
Beginning balance at original discount rate (including reserves)     802.6      
Changes in cash flow assumptions     0.0 11.0 0.0 (3.6)
Actual variances from expected experience     2.0 3.6 1.1 6.6
Adjusted balance     807.2 817.2 800.7 816.5
Issuances 0.0 0.0 0.0 0.0    
Interest accruals 11.7 35.5 47.4 47.9    
Benefit payments (16.0) (46.3) (59.4) (61.9)    
Ending balance at original discount rate 796.4 796.4 805.2 802.5    
Effect of changes in discount rate assumptions 11.0 11.0 62.3 370.2    
Ending balance 807.4 807.4 867.5 1,172.7    
Ending balance (including reserves)       1,172.7    
Liability for future policy benefits 743.2 743.2 799.3 1,098.1   1,191.3
Less: Reinsurance recoverable (0.6) (0.6) (0.8) (1.1)   (1.3)
Less: Change in discount rate assumptions           (0.7)
Net liability for future policy benefits, after reinsurance recoverable 742.6 742.6 798.5      
Impact of flooring on net liability for future policy benefits 0.0 0.0 0.0      
Net liability for future policy benefits at September 30, 2023 742.6 742.6 798.5 1,097.0   1,189.3
Experience Life | Previously Reported            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Liability for future policy benefits           758.3
Experience Life | Change in discount rate assumptions            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           433.0
Experience Life | Change in cash flow assumptions, effect of net premiums exceeding gross premiums            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Experience Life | Change in cash flow assumptions, effect of decrease of the DPL            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Experience Life | Adjustment for removal of related balances in AOCI            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Limited Pay Whole Life            
Present Value of Expected Net Premiums            
Beginning balance 31.7 29.7 29.7 25.4    
Beginning period (including reserves)       29.7    
Beginning balance at original discount rate 34.2 32.4 27.2 22.0    
Beginning balance at original discount rate (including reserves)     27.2      
Change in cash flow assumptions     0.0 2.0 0.0 0.0
Actual variances from expected experience     1.0 1.6 (0.3) 1.0
Adjusted balance     33.4 30.8 33.9 23.0
Issuances 1.2 3.3 6.3 10.2    
Interest accruals 0.4 1.0 1.1 0.8    
Net premiums collected (1.5) (3.7) (5.8) (6.8)    
Ending balance at original discount rate 34.0 34.0 32.4 27.2    
Effect of changes in discount rate assumptions (3.6) (3.6) (2.7) 2.5    
Ending balance 30.4 30.4 29.7 29.7    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Beginning balance 85.3 79.4 102.9 95.0    
Beginning balance (including reserves)     102.9      
Beginning balance at original discount rate 104.3 104.3 98.6 86.6 102.6 73.4
Beginning balance at original discount rate (including reserves)     86.6      
Changes in cash flow assumptions     0.0 2.0 0.0 0.0
Actual variances from expected experience     1.2 1.4 (0.3) 1.1
Adjusted balance     99.8 90.0 102.3 74.5
Issuances 1.2 3.3 6.4 10.2    
Interest accruals 1.0 2.9 3.4 2.9    
Benefit payments (0.2) (1.7) (1.2) (1.0)    
Ending balance at original discount rate 104.3 104.3 98.6 86.6    
Effect of changes in discount rate assumptions (25.7) (25.7) (19.2) 16.3    
Ending balance 78.6 78.6 79.4 102.9    
Ending balance (including reserves)       102.9    
Liability for future policy benefits 48.2 48.2 49.6 73.2   69.5
Less: Reinsurance recoverable (0.1) (0.1) 0.0 (0.2)   (0.1)
Less: Change in discount rate assumptions           (0.1)
Net liability for future policy benefits, after reinsurance recoverable 48.1 48.1 49.6      
Impact of flooring on net liability for future policy benefits 0.0 0.0 0.0      
Net liability for future policy benefits at September 30, 2023 48.1 48.1 49.6 73.0   69.3
Limited Pay Whole Life | Previously Reported            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Liability for future policy benefits           51.3
Limited Pay Whole Life | Change in discount rate assumptions            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           18.2
Limited Pay Whole Life | Change in cash flow assumptions, effect of net premiums exceeding gross premiums            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Limited Pay Whole Life | Change in cash flow assumptions, effect of decrease of the DPL            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Limited Pay Whole Life | Adjustment for removal of related balances in AOCI            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Supplemental health            
Present Value of Expected Net Premiums            
Beginning balance 172.0 167.4 221.5 233.0    
Beginning period (including reserves)       226.7    
Beginning balance at original discount rate 207.5 205.1 217.5 218.2    
Beginning balance at original discount rate (including reserves)     223.1      
Change in cash flow assumptions     0.0 12.2 0.0 (1.8)
Actual variances from expected experience     0.3 (25.3) 0.0 6.3
Adjusted balance     205.4 210.0 207.5 222.7
Issuances 3.7 13.6 12.0 13.0    
Interest accruals 1.5 4.5 5.9 5.9    
Net premiums collected (5.6) (16.4) (22.8) (24.1)    
Ending balance at original discount rate 207.1 207.1 205.1 217.5    
Effect of changes in discount rate assumptions (42.8) (42.8) (37.7) 4.0    
Ending balance 164.3 164.3 167.4 221.5    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Beginning balance 426.6 431.7 580.6 626.9    
Beginning balance (including reserves)     590.6      
Beginning balance at original discount rate 517.2 517.2 537.1 572.6 525.8 589.1
Beginning balance at original discount rate (including reserves)     584.2      
Changes in cash flow assumptions     0.0 13.8 0.0 (3.0)
Actual variances from expected experience     (0.1) (30.0) (0.2) 6.2
Adjusted balance     537.0 568.0 525.6 592.3
Issuances 3.7 13.6 12.0 13.0    
Interest accruals 3.6 10.8 15.0 15.7    
Benefit payments (15.7) (44.2) (57.9) (48.4)    
Ending balance at original discount rate 517.2 517.2 537.1 572.6    
Effect of changes in discount rate assumptions (118.8) (118.8) (105.4) 8.0    
Ending balance 398.4 398.4 431.7 580.6    
Ending balance (including reserves)       590.6    
Liability for future policy benefits 234.0 234.0 264.4 359.1   415.5
Less: Reinsurance recoverable (3.5) (3.5) (3.4) 0.0   0.0
Less: Change in discount rate assumptions           0.0
Net liability for future policy benefits, after reinsurance recoverable 230.5 230.5 261.0      
Impact of flooring on net liability for future policy benefits 0.0 0.0 0.0      
Net liability for future policy benefits at September 30, 2023 230.5 230.5 261.0 359.1   415.5
Supplemental health | Previously Reported            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Liability for future policy benefits           392.5
Supplemental health | Change in discount rate assumptions            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           23.0
Supplemental health | Change in cash flow assumptions, effect of net premiums exceeding gross premiums            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Supplemental health | Change in cash flow assumptions, effect of decrease of the DPL            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Supplemental health | Adjustment for removal of related balances in AOCI            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
Cancer            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Net liability for future policy benefits at September 30, 2023 88.5 88.5 101.8 140.8   163.5
Accident            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Net liability for future policy benefits at September 30, 2023 20.0 20.0 21.8 28.7   31.2
Disability            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Net liability for future policy benefits at September 30, 2023 21.6 21.6 23.1 29.3   32.0
Other            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Net liability for future policy benefits at September 30, 2023 100.4 100.4 114.3 160.3   188.8
SPIA (life contingent)            
Present Value of Expected Net Premiums            
Beginning balance 0.0 0.0 0.0 0.0    
Beginning period (including reserves)       0.0    
Beginning balance at original discount rate 0.0 0.0 0.0 0.0    
Beginning balance at original discount rate (including reserves)     0.0      
Change in cash flow assumptions     0.0 0.0 0.0 0.0
Actual variances from expected experience     0.0 0.0 0.0 0.0
Adjusted balance     0.0 0.0 0.0 0.0
Issuances 0.8 4.2 5.3 3.7    
Interest accruals 0.0 0.0 0.0 0.0    
Net premiums collected (0.8) (4.2) (5.3) (3.7)    
Ending balance at original discount rate 0.0 0.0 0.0 0.0    
Effect of changes in discount rate assumptions 0.0 0.0 0.0 0.0    
Ending balance 0.0 0.0 0.0 0.0    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Beginning balance 103.6 103.3 124.7 136.5    
Beginning balance (including reserves)     129.1      
Beginning balance at original discount rate 111.9 111.9 113.4 111.6 113.0 115.9
Beginning balance at original discount rate (including reserves)     115.7      
Changes in cash flow assumptions     0.0 0.0 0.0 0.0
Actual variances from expected experience     (0.5) 0.4 0.0 (0.4)
Adjusted balance     112.9 116.1 $ 113.0 115.5
Issuances 0.7 4.7 5.3 3.7    
Interest accruals 1.1 3.3 4.3 4.5    
Benefit payments (2.9) (9.0) (12.3) (12.1)    
Ending balance at original discount rate 111.9 111.9 113.4 111.6    
Effect of changes in discount rate assumptions (13.7) (13.7) (10.1) 13.1    
Ending balance 98.2 98.2 103.3 124.7    
Ending balance (including reserves)       129.1    
Liability for future policy benefits 98.2 98.2 103.3 124.7   136.5
Less: Reinsurance recoverable (3.3) (3.3) (3.2) 0.0   0.0
Less: Change in discount rate assumptions           0.0
Net liability for future policy benefits, after reinsurance recoverable 94.9 94.9 100.1      
Impact of flooring on net liability for future policy benefits 0.0 0.0 0.0      
Net liability for future policy benefits at September 30, 2023 $ 94.9 $ 94.9 $ 100.1 $ 124.7   136.5
SPIA (life contingent) | Previously Reported            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Liability for future policy benefits           115.9
SPIA (life contingent) | Change in discount rate assumptions            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           20.6
SPIA (life contingent) | Change in cash flow assumptions, effect of net premiums exceeding gross premiums            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
SPIA (life contingent) | Change in cash flow assumptions, effect of decrease of the DPL            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           0.0
SPIA (life contingent) | Adjustment for removal of related balances in AOCI            
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]            
Changes in cash flow assumptions           $ 0.0