Deferred Acquisition Costs and Other Actuarial Balances (Tables)

6 Months Ended

Jun. 30, 2026

Disaggregated DAC amounts and reconciliation (Table)

	June 30, 2026		December 31, 2025
	(in millions)
Retirement and Income Solutions:
Workplace savings and retirement solutions	$	532.0	$	528.9
Individual variable annuities		406.0		385.3
Pension risk transfer		26.1		24.8
Individual fixed deferred annuities		58.8		66.9
Investment only		12.1		10.6
Total Retirement and Income Solutions		1,035.0		1,016.5
Benefits and Protection:
Specialty Benefits:
Individual disability		724.6		714.8
Life Insurance:
Universal life		1,509.0		1,514.3
Term life		726.9		723.5
Participating life		67.9		71.0
Total Benefits and Protection		3,028.4		3,023.6
Short-duration contracts		37.4		30.2
Other balances (1)		1.3		1.3
Total DAC per consolidated statements of financial position	$	4,102.1	$	4,071.6

(1) Includes insignificant balances for long-duration contracts.

Disaggregated unearned revenue liability amounts and reconciliation (Table)

	June 30, 2026		December 31, 2025
	(in millions)
Benefits and Protection - Life Insurance:
Universal life	$	544.4	$	532.9
Total unearned revenue liability	$	544.4	$	532.9

Retirement and Income Solutions

Disaggregated DAC amounts and reconciliation (Table)

	Workplace						Individual
	savings and		Individual		Pension		fixed
	retirement		variable		risk		deferred		Investment
	solutions		annuities		transfer		annuities		only
	(in millions)
Balances as of January 1, 2025	$	515.5	$	323.4	$	21.1	$	84.2	$	13.0
Costs deferred		50.9		96.9		5.0		—		2.6
Amortized to expense		(37.5)		(35.0)		(1.3)		(17.3)		(5.0)
Balances as of December 31, 2025		528.9		385.3		24.8		66.9		10.6
Costs deferred		22.2		40.2		2.0		—		4.0
Amortized to expense		(19.1)		(19.5)		(0.7)		(8.1)		(2.5)
Balances as of June 30, 2026	$	532.0	$	406.0	$	26.1	$	58.8	$	12.1

Benefits and Protection

Disaggregated DAC amounts and reconciliation (Table)

	Specialty Benefits		Life Insurance
	Individual
	disability		Universal life		Term life		Participating life
	(in millions)
Balances as of January 1, 2025	$	696.9	$	1,527.7	$	710.8	$	77.8
Costs deferred		71.9		81.2		75.6		1.2
Amortized to expense		(54.0)		(94.6)		(62.9)		(8.0)
Balances as of December 31, 2025		714.8		1,514.3		723.5		71.0
Costs deferred		37.3		41.9		35.6		0.7
Amortized to expense		(27.5)		(47.2)		(32.2)		(3.8)
Balances as of June 30, 2026	$	724.6	$	1,509.0	$	726.9	$	67.9

Disaggregated Rollforward at Adoption - Unearned Revenue Liability (Table)

	For the six months ended		For the year ended
	June 30, 2026		December 31, 2025
	(in millions)
Balance at beginning of period	$	532.9	$	510.1
Deferrals		28.7		56.0
Revenue recognized		(17.2)		(33.2)
Balance at end of period		544.4		532.9
Reinsurance impact		(212.6)		(215.6)
Balance at end of period after reinsurance	$	331.8	$	317.3