v3.26.1
Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss (Tables)
6 Months Ended
Jun. 30, 2026
Statement of Comprehensive Income [Abstract]  
Schedule of Comprehensive Income
The tables below display the changes in Accumulated Other Comprehensive Loss (“AOCI”) by component for the three months ended June 30, 2026 and 2025.
Changes in Net Unrealized Losses on Investment Securities
(Dollars in Millions)Having No Credit Losses Recognized in Condensed Consolidated Statements of IncomeHaving Credit Losses Recognized in Condensed Consolidated Statements of IncomeNet Unrecognized Postretirement Benefit IncomeNet Loss on Cash Flow HedgesChange in Discount Rate on Future Life Policyholder BenefitsTotal
Balance as of March 31, 2026$(628.9)$(4.0)$5.8 $(0.7)$401.1 $(226.7)
Other Comprehensive Income (Loss) Before Reclassifications40.3 1.4 — — (18.4)23.3 
Amounts Reclassified from AOCI Net of Tax Benefit of $(0.1), $(0.3), $0.0, $0.0, $0.0 and $(0.4)
(0.4)(1.1)(0.3)(0.1)— (1.9)
Other Comprehensive Income (Loss) Net of Tax Expense (Benefit) of $10.7, $0.1, $0.0, $0.0, $(4.9), and $5.9
39.9 0.3 (0.3)(0.1)(18.4)21.4 
Balance as of June 30, 2026$(589.0)$(3.7)$5.5 $(0.8)$382.7 $(205.3)
Changes in Net Unrealized Losses on Investment Securities
(Dollars in Millions)Having No Credit Losses Recognized in Condensed Consolidated Statements of IncomeHaving Credit Losses Recognized in Condensed Consolidated Statements of IncomeNet Unrecognized Postretirement Benefit IncomeNet Loss on Cash Flow HedgesChange in Discount Rate on Future Life Policyholder BenefitsTotal
Balance as of March 31, 2025$(633.1)$(2.2)$8.0 $— $366.0 $(261.3)
Other Comprehensive Income (Loss) Before Reclassifications2.8 2.5 — (1.6)4.0 7.7 
Amounts Reclassified from AOCI Net of Tax (Benefit) Expense of $(0.4), $(0.7), $(0.2), $0.1, $0.0, and $(1.2)
(1.4)(2.5)(0.4)0.2 — (4.1)
Other Comprehensive Income (Loss) Net of Tax Expense (Benefit) of $0.4, $0.0, $(0.2), $(0.3) $1.1 and $1.0
1.4 — (0.4)(1.4)4.0 3.6 
Balance as of June 30, 2025$(631.7)$(2.2)$7.6 $(1.4)$370.0 $(257.7)
The tables below display the changes in AOCI by component for the six months ended June 30, 2026 and 2025.
Changes in Net Unrealized Losses on Investment Securities
(Dollars in Millions)Having No Credit Losses Recognized in Condensed Consolidated Statements of IncomeHaving Credit Losses Recognized in Condensed Consolidated Statements of IncomeNet Unrecognized Postretirement Benefit IncomeNet Loss on Cash Flow HedgesChange in Discount Rate on Future Life Policyholder BenefitsTotal
Balance as of January 1, 2026$(559.5)$(3.0)$6.1 $(0.6)$350.8 (206.2)
Other Comprehensive (Loss) Income Before Reclassifications(30.2)0.4 — — 31.9 2.1 
Amounts Reclassified from AOCI Net of Tax Expense (Benefit) of $0.2, $(0.3), $(0.1), $0.0, $0.0 and $(0.2)
0.7 (1.1)(0.6)(0.2)— (1.2)
Other Comprehensive (Loss) Income Net of Tax (Benefit) Expense of $(7.8), $(0.2), $(0.1), $0.0, $8.5, and $0.4
(29.5)(0.7)(0.6)(0.2)31.9 0.9 
Balance as of June 30, 2026$(589.0)$(3.7)$5.5 $(0.8)$382.7 $(205.3)
Changes in Net Unrealized Losses on Investment Securities
(Dollars in Millions)Having No Credit Losses Recognized in Condensed Consolidated Statements of IncomeHaving Credit Losses Recognized in Condensed Consolidated Statements of IncomeNet Unrecognized Postretirement Benefit IncomeNet Loss on Cash Flow HedgesChange in Discount Rate on Future Life Policyholder BenefitsTotal
Balance as of January 1, 2025$(687.8)$(3.2)$8.4 $(2.2)$380.3 $(304.5)
Other Comprehensive Income (Loss) Before Reclassifications56.0 4.8 — 0.8 (10.3)51.3 
Amounts Reclassified from AOCI Net of Tax Benefit of $0.0, $(1.0), $(0.3), $0.0, $0.0 and $(1.3)
0.1 (3.8)(0.8)— — (4.5)
Other Comprehensive Income (Loss) Net of Tax Expense (Benefit) of $14.9, $0.3, $(0.3), $(0.4), $(2.7), and $11.8
56.1 1.0 (0.8)0.8 (10.3)46.8 
Balance as of June 30, 2025$(631.7)$(2.2)$7.6 $(1.4)$370.0 $(257.7)
Amounts reclassified from AOCI shown above are reported in Net (Loss) Income as follows:
Components of AOCI
Condensed Consolidated Statements of (Loss) Income Line Item Affected by Reclassifications
Net Unrealized Losses on Investment Securities with No Credit Losses
Net Realized Investment Gains (Losses)
Net Unrealized Losses on Investment Securities with Credit Losses
Impairment Losses and Net Realized Investment Gains (Losses)
Net Unrecognized Postretirement Benefit Income
Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses, Insurance and Other Expenses, and Interest Expense
Net Loss on Cash Flow Hedges
Net Investment Income and Interest Expense