Insurance Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Contractholder Funds (Table)

	December 31,
	2020		2019
	(in millions)
Liabilities for investment contracts:
Liabilities for individual annuities	$	12,864.1	$	13,457.5
GICs		11,858.0		10,423.5
Funding agreements		9,407.3		8,640.6
Other investment contracts		1,762.4		1,596.7
Total liabilities for investment contracts		35,891.8		34,118.3
Universal life and other reserves		7,345.9		7,249.2
Total contractholder funds	$	43,237.7	$	41,367.5

Liability for Unpaid Claims (Table)

	For the year ended December 31,
	2020		2019		2018
	(in millions)
Balance at beginning of year	$	2,365.5	$	2,252.7	$	2,130.5
Less: reinsurance recoverable		403.8		404.3		375.8
Net balance at beginning of year		1,961.7		1,848.4		1,754.7
Incurred:
Current year		1,376.8		1,361.3		1,268.8
Prior years		26.6		0.8		0.3
Total incurred		1,403.4		1,362.1		1,269.1
Payments:
Current year		863.8		869.4		815.7
Prior years		403.3		379.4		359.7
Total payments		1,267.1		1,248.8		1,175.4
Net balance at end of year		2,098.0		1,961.7		1,848.4
Plus: reinsurance recoverable		436.9		403.8		404.3
Balance at end of year	$	2,534.9	$	2,365.5	$	2,252.7
Amounts not included in the rollforward above:
Claim adjustment expense liabilities	$	57.8	$	57.9	$	54.6

Reconciliation of unpaid claims to liability for unpaid claims (Table)

	December 31, 2020
			Dental, Vision, STD,
	LTD and Group Life		Critical Illness and
	Waiver		Accident		Group Life		Consolidated
	(in millions)
Net outstanding liabilities for unpaid claims	$	1,208.8	$	70.4	$	54.0	$	1,333.2
Reconciling items:
Reinsurance recoverable on unpaid claims		53.3		—		0.1		53.4
Impact of discounting		(214.5)		—		—		(214.5)
Liability for unpaid claims - short-duration contracts	$	1,047.6	$	70.4	$	54.1		1,172.1
Insurance contracts other than short-duration								1,362.8
Liability for unpaid claims							$	2,534.9

Claim Duration and Payout (Table)

	December 31, 2020 (1)
			Dental, Vision, STD,
	LTD and Group Life		Critical Illness and		Group
Year	Waiver		Accident		Life
1	7.7	%	91.7	%	81.5	%
2	24.3		8.0		17.3
3	15.1
4	8.2
5	5.7
6	5.2
7	4.2
8	3.6
9	3.4
10	2.6

(1) Unaudited.

Discounting (Table)

						Dental, Vision, STD,
	LTD and Group Life					Critical Illness and
	Waiver					Accident					Group Life
	($ in millions)
Carrying amount of liabilities for unpaid claims
December 31, 2020	$			1,047.6		$			70.4		$			54.1
December 31, 2019				1,029.9					71.2					50.4
Range of discount rates
December 31, 2020		2.8	-	7.0	%		—	-	—	%		—	-	—	%
December 31, 2019		3.3	-	7.0			—	-	—			—	-	—
Aggregate amount of discount
December 31, 2020	$			214.5		$			—		$			—
December 31, 2019				215.0					—					—
Interest accretion
For the year ended:
December 31, 2020	$			33.9		$			—		$			—
December 31, 2019				34.2					—					—
December 31, 2018				34.5					—					—

Long-Term Disability/Group Life Waiver

Claims Development (Table)

																					Incurred			Cumulative
																					but not			number of
																					reported			reported
	Net incurred claims (1)																				claims			claims
	December 31,
	2011		2012		2013		2014		2015		2016		2017		2018		2019		2020		2020		2020
	($ in millions)
Incurral year
2011	$	203.7	$	192.6	$	185.4	$	184.8	$	178.4	$	172.3	$	169.6	$	167.6	$	166.5	$	167.0	$	0.1		6,294
2012				217.9		200.0		191.1		189.5		181.8		174.8		173.3		171.9		173.1		0.1		6,445
2013						219.3		203.3		188.4		190.7		182.3		179.5		177.1		173.4		0.1		7,050
2014								242.2		231.4		214.4		218.1		206.2		201.9		202.0		0.1		7,603
2015										231.0		227.2		217.2		215.3		208.2		210.0		0.1		7,179
2016												229.8		228.4		219.4		219.5		214.4		0.1		6,163
2017														238.4		239.7		243.1		245.8		4.4		6,074
2018																239.4		245.1		239.2		6.6		5,738
2019																		255.2		248.4		3.2		5,858
2020																				252.1		87.0		3,588
Total net incurred claims																			$	2,125.4

	Net cumulative paid claims (1)
	December 31,
	2011		2012		2013		2014		2015		2016		2017		2018		2019		2020
	(in millions)
Incurral year
2011	$	11.2	$	50.0	$	72.5	$	85.7	$	95.4	$	105.2	$	112.6	$	119.3	$	125.4	$	129.7
2012				13.8		55.1		80.8		93.7		104.6		112.9		120.0		126.1		131.5
2013						12.5		55.0		81.4		97.0		106.4		116.4		123.2		129.0
2014								16.1		66.0		96.3		111.8		122.3		132.4		140.8
2015										16.9		67.0		98.0		114.6		126.8		137.1
2016												16.2		70.6		105.6		124.9		136.8
2017														17.8		76.5		115.0		135.9
2018																20.1		79.9		115.7
2019																		19.2		79.7
2020																				20.6
Total net paid claims																				1,156.8
All outstanding liabilities for unpaid claims prior to 2011 net of reinsurance																				240.2
Total outstanding liabilities for unpaid claims net of reinsurance																			$	1,208.8

(1) 2011-2019 unaudited.

Dental/Vision/Short-Term Disability/Critical Illness/Accident

Claims Development (Table)

					Incurred		Cumulative
					but not		number of
					reported		reported
	Net incurred claims (1)				claims		claims
	December 31,
	2019		2020		2020		2020
	($ in millions)
Incurral year
2019	$	724.7	$	711.6	$	—		3,363,947
2020				679.8		45.0		2,899,957
Total net incurred claims			$	1,391.4
	Net cumulative
	paid claims (1)
	December 31,
	2019		2020
	(in millions)
Incurral year
2019	$	653.5	$	711.5
2020				609.5
Total net paid claims				1,321.0
All outstanding liabilities for unpaid claims prior to 2019 net of reinsurance				—
Total outstanding liabilities for unpaid claims net of reinsurance			$	70.4

(1) 2019 unaudited.

Group Life

Claims Development (Table)

					Incurred		Cumulative
					but not		number of
					reported		reported
	Net incurred claims (1)				claims		claims
	December 31,
	2019		2020		2020		2020
	($ in millions)
Incurral year
2019	$	228.3	$	224.6	$	0.7		5,117
2020				270.6		21.9		5,505
Total net incurred claims			$	495.2
	Net cumulative
	paid claims (1)
	December 31,
	2019		2020
	(in millions)
Incurral year
2019	$	181.7	$	223.0
2020				219.3
Total net paid claims				442.3
All outstanding liabilities for unpaid claims prior to 2019 net of reinsurance				1.1
Total outstanding liabilities for unpaid claims net of reinsurance			$	54.0

(1) 2019 unaudited.