Reinsurance (Tables)

6 Months Ended

Jun. 30, 2026

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 June 30,						For the six months ended June 30,
		2026			2025			2026			2025

		(in millions)
Premiums and other considerations:
Direct		$	1,612.9		$	1,538.1		$	2,889.3		$	3,421.5
Ceded			(152.1)			(141.6)			(280.4)			(273.7)
Net premiums and other considerations		$	1,460.8		$	1,396.5		$	2,608.9		$	3,147.8

Benefits, claims and settlement expenses:
Direct		$	2,406.9		$	2,322.3		$	4,442.4		$	4,920.3
Ceded			(414.8)			(482.4)			(839.2)			(860.4)
Net benefits, claims and settlement expenses		$	1,992.1		$	1,839.9		$	3,603.2		$	4,059.9

LFPB remeasurement (gain) loss:
Direct		$	22.9		$	(11.8)		$	24.0		$	(5.7)
Ceded			(15.5)			7.5			(31.3)			3.6
Net LFPB remeasurement (gain) loss		$	7.4		$	(4.3)		$	(7.3)		$	(2.1)

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


		June 30, 2026			December 31, 2025

		(in millions)
Cost of reinsurance asset		$	3,061.7		$	3,103.2

Cost of reinsurance liability		$	953.9			971.4

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


		June 30, 2026			December 31, 2025

		(in millions)
Fixed maturities, available-for-sale		$	12,215.3		$	13,300.1
Fixed maturities, trading			201.0			279.3
Equity securities			0.3			0.3
Mortgage loans			1,670.2			2,002.9
Other investments			1,906.8			1,708.7
Cash and cash equivalents			1,385.7			547.8
Accrued interest income			147.6			159.0
Net other liabilities			(13.2)			(89.2)
Net assets		$	17,513.7		$	17,908.9

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 six months ended

June 30,

June 30,

 

2026

 

2025

 

2026

 

2025

(in millions)

Fixed maturities, available-for-sale

$

(4.1)

$

(19.5)

$

(22.0)

$

(47.5)

Fixed maturities, trading

(0.4)

—

(3.1)

0.1

Mortgage loans

(0.1)

0.1

(4.0)

(1.3)

Derivatives

1.6

0.5

0.9

(1.7)

Net realized capital losses

$

(3.0)

$

(18.9)

$

(28.2)

$

(50.4)