Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | (14) Income Taxes The effective tax rate was 23.9% and 28.0% for the three months ended June 30, 2026 and 2025, respectively, and 25.9% and 28.3% for the six months ended June 30, 2026 and 2025, respectively. The rate in all periods was above the statutory U.S. federal income tax rate of 21% largely due to tax expense on certain forward starting swap gains that are tax effected at the previously enacted federal income tax rate of 35% as they are amortized into net investment income. The decrease in the effective tax rate for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025 was primarily attributable to the benefit from purchased tax credits. U.S. GAAP generally requires an annualized effective tax rate to be used for interim reporting periods, utilizing projections of full year results. However, in certain circumstances it is appropriate to record the actual effective tax rate for the period if a reliable estimate cannot be made for the full year. Accordingly, for the three and six months ended June 30, 2026 and 2025, we utilized the actual effective tax rate for the interim period to record the provision (benefit) for income taxes for our Closed Block segment and the annualized projected effective tax rate for our Enact segment and Corporate and Other.
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