Reinsurance (Tables)

12 Months Ended

Dec. 31, 2023

Reinsurance

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

	For the year ended December 31,
	2023		2022		2021
	(in millions)
Premiums and other considerations:
Direct	$	6,962.2	$	5,796.1	$	5,492.1
Ceded		(491.3)		(456.4)		(650.6)
Net premiums and other considerations	$	6,470.9	$	5,339.7	$	4,841.5
Benefits, claims and settlement expenses:
Direct	$	9,365.4	$	8,103.6	$	7,833.4
Ceded		(1,577.2)		(1,472.3)		(575.2)
Net benefits, claims and settlement expenses	$	7,788.2	$	6,631.3	$	7,258.2
Liability for future policy benefits remeasurement gain:
Direct	$	737.4	$	(179.5)	$	(6.4)
Ceded		(789.0)		(85.0)		2.0
Net liability for future policy benefits remeasurement gain	$	(51.6)	$	(264.5)	$	(4.4)

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

	December 31, 2023		December 31, 2022
	(in millions)
Cost of reinsurance asset	$	3,275.5	$	3,339.1
Cost of reinsurance liability	$	424.6	$	479.8

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

	December 31, 2023		December 31, 2022
	(in millions)
Fixed maturities, available-for-sale	$	15,587.5	$	15,693.5
Fixed maturities, trading		316.8		100.8
Equity securities		0.3		11.0
Mortgage loans		2,385.9		2,810.8
Other investments		621.4		179.8
Cash and cash equivalents		818.4		1,762.9
Accrued interest income		187.0		178.7
Net other liabilities		(77.8)		(33.6)
Net assets	$	19,839.5	$	20,703.9

Schedule of components of net investment income on the funds withheld assets that were passed to coinsurer (Table)

	For the year ended December 31,
	2023		2022
	(in millions)
Fixed maturities, available-for-sale	$	856.9	$	745.9
Fixed maturities, trading		11.9		2.0
Equity securities		0.2		0.6
Mortgage loans		119.0		98.4
Cash and cash equivalents		57.9		18.2
Other		64.0		4.8
Total		1,109.9		869.9
Investment expenses		23.7		20.5
Net investment income	$	1,086.2	$	849.4

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

	For the year ended December 31,
	2023		2022
	(in millions)
Fixed maturities, available-for-sale	$	(229.7)	$	(235.5)
Fixed maturities, trading		(0.1)		(6.4)
Equity securities		(1.2)		(2.4)
Mortgage loans		(34.1)		(24.8)
Derivatives		7.2		2.7
Other		—		3.3
Net realized capital losses	$	(257.9)	$	(263.1)