Reinsurance (Tables)

9 Months Ended

Sep. 30, 2023

Reinsurance

Schedule of information pertaining to effects of reinsurance on premiums and other considerations and policy and contract benefits (Table)

	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
	(in millions)
Premiums and other considerations:
Direct	$	1,575.3	$	1,591.6	$	4,757.5	$	4,068.8
Ceded		(117.4)		(105.1)		(358.3)		(328.7)
Net premiums and other considerations	$	1,457.9	$	1,486.5	$	4,399.2	$	3,740.1
Benefits, claims and settlement expenses:
Direct	$	2,143.0	$	2,174.8	$	6,504.9	$	5,826.4
Ceded		(432.4)		(373.2)		(1,186.3)		(1,090.9)
Net benefits, claims and settlement expenses	$	1,710.6	$	1,801.6	$	5,318.6	$	4,735.5
Liability for future policy benefits remeasurement gain:
Direct	$	697.4	$	(68.0)	$	721.7	$	(199.6)
Ceded		(739.7)		0.4		(768.9)		(68.4)
Net liability for future policy benefits remeasurement gain	$	(42.3)	$	(67.6)	$	(47.2)	$	(268.0)

Schedule of information pertaining to cost of reinsurance asset and liability included on the consolidated statements of financial position (Table)

	September 30, 2023		December 31, 2022
	(in millions)
Cost of reinsurance asset	$	3,286.6	$	3,339.1
Cost of reinsurance liability	$	150.2	$	191.1

Schedule of assets held in support of reserves associated with coinsurance with funds withheld agreement (Table)

	September 30, 2023		December 31, 2022
	(in millions)
Fixed maturities, available-for-sale	$	14,779.3	$	15,693.5
Fixed maturities, trading		215.3		100.8
Equity securities		0.3		11.0
Mortgage loans		2,527.9		2,810.8
Other investments		434.1		179.8
Cash and cash equivalents		746.9		1,762.9
Accrued interest income		203.7		178.7
Net other liabilities		(49.8)		(33.6)
Net assets	$	18,857.7	$	20,703.9

Schedule of components of net realized gains (losses) on the funds withheld assets that were passed to coinsurer (Table)

	For the three months ended				For the nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
	(in millions)
Fixed maturities, available-for-sale	$	(22.7)	$	(53.2)	$	(146.3)	$	60.7
Fixed maturities, trading		—		(5.6)		(0.1)		(6.4)
Equity securities		—		0.4		(1.2)		(2.4)
Mortgage loans		—		(0.2)		(9.2)		(1.8)
Derivatives		(0.4)		(0.5)		5.0		(1.0)
Other		—		11.8		—		5.4
Net realized capital gains (losses)	$	(23.1)	$	(47.3)	$	(151.8)	$	54.5