Closed Block (Tables)

12 Months Ended

Dec. 31, 2013

Closed Block

Closed Block Liabilities and Assets Designated to the Closed Block (Table)

	December 31, 2013		December 31, 2012
	(in millions)
Closed Block liabilities
Future policy benefits and claims	$	4,532.0	$	4,664.5
Other policyholder funds		10.5		10.7
Policyholder dividends payable		270.5		280.6
Policyholder dividends obligation		111.6		131.0
Deferred income taxes		2.2		—
Other liabilities		24.7		31.3
Total Closed Block liabilities		4,951.5		5,118.1
Assets designated to the Closed Block
Fixed maturities, available-for-sale		2,470.9		2,735.1
Fixed maturities, trading		13.4		17.0
Equity securities, available-for-sale		3.6		5.5
Mortgage loans		828.6		719.4
Policy loans		644.2		665.5
Other investments		118.5		158.0
Total investments		4,079.2		4,300.5
Cash and cash equivalents		70.3		51.3
Accrued investment income		49.5		52.5
Premiums due and other receivables		11.7		13.2
Deferred tax asset		66.2		39.2
Other assets		2.2		—
Total assets designated to the Closed Block		4,279.1		4,456.7
Excess of Closed Block liabilities over assets designated to the Closed Block		672.4		661.4
Amounts included in accumulated other comprehensive income		12.9		62.4
Maximum future earnings to be recognized from Closed Block assets and liabilities	$	685.3	$	723.8

Closed Block Revenues and Expenses (Table)

	For the year ended December 31,
	2013			2012			2011
	(in millions)
Revenues
Premiums and other considerations	$	379.9		$	397.4		$	428.8
Net investment income		207.7			222.8			238.2
Net realized capital gains (losses)		(12.3	)		3.6			7.9
Total revenues		575.3			623.8			674.9
Expenses
Benefits, claims and settlement expenses		320.1			325.7			370.7
Dividends to policyholders		184.4			192.6			204.2
Operating expenses		4.7			4.9			2.9
Total expenses		509.2			523.2			577.8
Closed Block revenues, net of Closed Block expenses, before income taxes		66.1			100.6			97.1
Income taxes		21.1			32.6			31.2
Closed Block revenues, net of Closed Block expenses and income taxes		45.0			68.0			65.9
Funding adjustment charges		(6.5	)		(4.8	)		(5.3	)
Closed Block revenues, net of Closed Block expenses, income taxes and funding adjustment charges	$	38.5		$	63.2		$	60.6

Change in Maximum Future Earnings of the Closed Block (Table)

	For the year ended December 31,
	2013			2012			2011
	(in millions)
Beginning of year	$	723.8		$	787.0		$	847.6
End of year		685.3			723.8			787.0
Change in maximum future earnings	$	(38.5	)	$	(63.2	)	$	(60.6	)