v3.26.1
Fair Value Measurements - Changes in Level 3 Fair Value Measurements (Details) - Recurring Fair Value Measurements - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, net derivative assets (liabilities) $ (1.7) $ (1.8) $ 17.9 $ 13.5
Total realized/unrealized gains (losses) included in net income, net derivative assets (liabilities) $ 24.2 $ (11.1) $ 4.2 $ (27.8)
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Net purchases, sales, issuances and settlements, net derivative assets (liabilities) $ 0.8 $ (0.1) $ 1.2 $ 1.2
Transfers out of Level 3, net derivative assets (liabilities)   (0.1)    
Ending balance, net derivative assets (liabilities) 23.3 (13.1) 23.3 (13.1)
Changes in unrealized gains (losses) included in net income relating to positions still held, net derivative assets (liabilities) 10.3 (12.6) 1.6 (30.6)
Gross purchases, sales, issuances and settlements        
Purchases, net derivative assets (liabilities) 0.1 0.2 0.3 0.9
Sales, net derivative assets (liabilities) 0.7 (0.3) 0.9 0.3
Net purchases, sales, issuances and settlements, net derivative assets (liabilities) 0.8 (0.1) 1.2 1.2
Investment and universal life contracts        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, liabilities (1,357.7) (522.7) (1,410.2) (578.4)
Total realized/unrealized gains (losses) included in net income, liabilities $ (668.0) $ (192.4) $ (522.9) $ 1.0
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Net purchases, sales, issuances and settlements, liabilities $ (116.8) $ (148.6) $ (209.4) $ (286.3)
Ending balance, liabilities (2,142.5) (863.7) (2,142.5) (863.7)
Changes in unrealized gains (losses) included in net income relating to positions still held, liabilities (526.8) (7.8) (521.7) 0.3
Gross purchases, sales, issuances and settlements        
Issuances, liabilities (131.4) (160.1) (241.2) (314.0)
Settlements, liabilities 14.6 11.5 31.8 27.7
Net purchases, sales, issuances and settlements, liabilities (116.8) (148.6) (209.4) (286.3)
Funds withheld payable embedded derivative        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, liabilities 2,810.8 2,804.8 2,633.4 3,014.5
Total realized/unrealized gains (losses) included in net income, liabilities $ (104.4) $ 20.4 $ 73.0 $ (189.3)
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Ending balance, liabilities $ 2,706.4 $ 2,825.2 $ 2,706.4 $ 2,825.2
Changes in unrealized gains (losses) included in net income relating to positions still held, liabilities (104.4) 20.4 73.0 (189.4)
Fixed maturities | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 4,392.3 3,950.2 4,304.2 3,898.2
Total realized/unrealized gains (losses) included in net income, assets $ (1.8) $ 13.0 $ (34.1) $ 16.0
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Total realized/unrealized gains (losses) included in other comprehensive income, assets $ 10.5 $ 4.3 $ 6.1 $ 4.4
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax
Net purchases, sales, issuances and settlements, assets $ (269.9) $ 238.8 $ (192.9) $ 312.5
Transfers into Level 3, assets 32.6 121.5 85.2 121.5
Transfers out of Level 3, assets (112.9)   (117.7) (24.8)
Ending balance, assets 4,050.8 4,327.8 4,050.8 4,327.8
Changes in unrealized gains (losses) included in net income relating to positions still held, assets (5.6) 13.0 (18.0) 27.4
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets 13.8 4.6 3.1 3.9
Gross purchases, sales, issuances and settlements        
Purchases, assets 209.7 377.9 572.4 837.8
Sales, assets (266.9) (25.6) (292.8) (333.3)
Settlements, assets (212.7) (113.5) (472.5) (192.0)
Net purchases, sales, issuances and settlements, assets (269.9) 238.8 (192.9) 312.5
States and political subdivisions | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 68.2 68.6 68.4 66.8
Total realized/unrealized gains (losses) included in other comprehensive income, assets $ (0.5) $ (0.4) $ (0.2) $ 1.9
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax
Net purchases, sales, issuances and settlements, assets $ (0.5) $ (0.4) $ (1.0) $ (0.9)
Transfers into Level 3, assets 32.6   32.6  
Ending balance, assets 99.8 67.8 99.8 67.8
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets (0.6) (0.4) (0.3) 1.9
Gross purchases, sales, issuances and settlements        
Settlements, assets (0.5) (0.4) (1.0) (0.9)
Net purchases, sales, issuances and settlements, assets (0.5) (0.4) (1.0) (0.9)
Corporate debt securities | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 2,549.1 2,419.3 2,477.7 2,350.4
Total realized/unrealized gains (losses) included in net income, assets $ (1.8) $ 13.0 $ (32.0) $ 15.9
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Total realized/unrealized gains (losses) included in other comprehensive income, assets $ 1.0 $ (2.7) $ 6.3 $ (7.9)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax
Net purchases, sales, issuances and settlements, assets $ (31.5) $ 14.4 $ 64.8 $ 85.6
Ending balance, assets 2,516.8 2,444.0 2,516.8 2,444.0
Changes in unrealized gains (losses) included in net income relating to positions still held, assets (5.6) 13.0 (16.8) 27.4
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets 4.5 (2.4) 2.5 (8.7)
Gross purchases, sales, issuances and settlements        
Purchases, assets 124.8 89.0 378.3 324.2
Sales, assets (44.9) (25.6) (70.8) (155.6)
Settlements, assets (111.4) (49.0) (242.7) (83.0)
Net purchases, sales, issuances and settlements, assets (31.5) 14.4 64.8 85.6
Commercial mortgage-backed securities | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 2.3 2.6 2.4 2.7
Total realized/unrealized gains (losses) included in other comprehensive income, assets       0.1
Net purchases, sales, issuances and settlements, assets (0.1)   (0.2) (0.2)
Ending balance, assets 2.2 2.6 2.2 2.6
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets       0.1
Gross purchases, sales, issuances and settlements        
Settlements, assets (0.1)   (0.2) (0.2)
Net purchases, sales, issuances and settlements, assets (0.1)   (0.2) (0.2)
Other debt obligations | Available-for-sale        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 1,772.7 1,459.7 1,755.7 1,478.3
Total realized/unrealized gains (losses) included in net income, assets     $ (2.1) $ 0.1
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]     Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Total realized/unrealized gains (losses) included in other comprehensive income, assets $ 10.0 $ 7.4   $ 10.3
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax   Other Comprehensive Income Available for Sale Securities Period Increase Decrease Net of Tax, Other Comprehensive Income Derivatives Period Increase (Decrease), Net of Tax
Net purchases, sales, issuances and settlements, assets $ (237.8) $ 224.8 $ (256.5) $ 228.0
Transfers into Level 3, assets   121.5 52.6 121.5
Transfers out of Level 3, assets (112.9)   (117.7) (24.8)
Ending balance, assets 1,432.0 1,813.4 1,432.0 1,813.4
Changes in unrealized gains (losses) included in net income relating to positions still held, assets     (1.2)  
Changes in unrealized gains (losses) included in OCI relating to positions still held, assets 9.9 7.4 0.9 10.6
Gross purchases, sales, issuances and settlements        
Purchases, assets 84.9 288.9 194.1 513.6
Sales, assets (222.0)   (222.0) (177.7)
Settlements, assets (100.7) (64.1) (228.6) (107.9)
Net purchases, sales, issuances and settlements, assets (237.8) 224.8 (256.5) 228.0
Fixed maturities, trading        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 497.0 571.1 457.4 562.6
Total realized/unrealized gains (losses) included in net income, assets $ (6.7) $ (11.2) $ (12.0) $ (11.9)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Net purchases, sales, issuances and settlements, assets $ (85.8) $ (68.0) $ (40.9) $ (54.0)
Transfers out of Level 3, assets       (4.8)
Ending balance, assets 404.5 491.9 404.5 491.9
Changes in unrealized gains (losses) included in net income relating to positions still held, assets (5.5) (11.0) (9.8) (11.2)
Gross purchases, sales, issuances and settlements        
Purchases, assets 56.2 98.3 142.2 162.6
Sales, assets (133.5) (76.8) (170.6) (121.6)
Settlements, assets (8.5) (89.5) (12.5) (95.0)
Net purchases, sales, issuances and settlements, assets (85.8) (68.0) (40.9) (54.0)
Mortgage loans        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets       140.6
Net purchases, sales, issuances and settlements, assets       (140.6)
Gross purchases, sales, issuances and settlements        
Settlements, assets       (140.6)
Net purchases, sales, issuances and settlements, assets       (140.6)
Other investments        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 125.3 118.6 167.2 131.2
Total realized/unrealized gains (losses) included in net income, assets $ (3.3) $ (2.9) $ (7.1) $ (0.2)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Net purchases, sales, issuances and settlements, assets $ (33.8) $ 3.6 $ (71.9) $ (11.7)
Ending balance, assets 88.2 119.3 88.2 119.3
Changes in unrealized gains (losses) included in net income relating to positions still held, assets 1.0 4.2 0.4 4.2
Gross purchases, sales, issuances and settlements        
Purchases, assets (1.5) 39.6 8.8 60.9
Sales, assets (0.7)   (0.7) (1.5)
Settlements, assets (31.6) (36.0) (80.0) (71.1)
Net purchases, sales, issuances and settlements, assets (33.8) 3.6 (71.9) (11.7)
Separate account assets        
Changes in Level 3 fair value measurements rollforward, assets and liabilities        
Beginning balance, assets 760.6 738.2 742.5 726.7
Total realized/unrealized gains (losses) included in net income, assets $ (0.2) $ 3.2 $ 17.9 $ 14.7
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative Gain (Loss) on Investments, Change In Fair Value Of Funds Withheld Embedded Derivative
Ending balance, assets $ 760.4 $ 741.4 $ 760.4 $ 741.4
Changes in unrealized gains (losses) included in net income relating to positions still held, assets $ (0.9) $ (1.2) $ 17.2 $ (7.8)