XML 83 R70.htm IDEA: XBRL DOCUMENT v3.22.4
FAIR VALUE MEASUREMENTS - FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS MEASURED ON A RECURRING BASIS - SECURITIES (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Jan. 01, 2020
Assets:      
Estimated fair value $ 20,353.4 $ 24,805.4 $ 21,293.1
Equity securities - corporate securities 135.3 131.1  
Trading securities 207.9 227.2  
Investments held by variable interest entities 1,077.6 1,199.6 $ 1,178.7
Total other invested assets 1,034.7 1,224.0  
Assets held in separate accounts 2.7 3.9  
Significant unobservable inputs  (Level 3)      
Assets:      
Total assets carried at fair value by category 353.4 170.4  
Fair value, Measurements, Recurring      
Assets:      
Trading securities 207.9 227.2  
Investments held by variable interest entities 1,077.6 1,199.6  
Derivatives 56.7 227.5  
Residential tranches 18.3    
Total other invested assets 75.0    
Assets held in separate accounts 2.7 3.9  
Total assets carried at fair value by category 21,851.9 26,594.7  
Liabilities:      
Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) 1,297.0 1,724.1  
Fair value, Measurements, Recurring | Corporate securities      
Assets:      
Estimated fair value 11,712.7 15,450.8  
Equity securities - corporate securities 135.3 131.1  
Fair value, Measurements, Recurring | United States Treasury securities and obligations of United States government corporations and agencies      
Assets:      
Estimated fair value 158.7 219.6  
Fair value, Measurements, Recurring | States and political subdivisions      
Assets:      
Estimated fair value 2,388.5 3,004.2  
Fair value, Measurements, Recurring | Foreign governments      
Assets:      
Estimated fair value 74.7 98.5  
Fair value, Measurements, Recurring | Asset-backed securities      
Assets:      
Estimated fair value 1,287.0 1,162.9  
Trading securities 15.1 5.8  
Fair value, Measurements, Recurring | Agency residential mortgage-backed securities      
Assets:      
Estimated fair value 175.0 40.4  
Trading securities 0.3 0.4  
Fair value, Measurements, Recurring | Non-agency residential mortgage-backed securities      
Assets:      
Estimated fair value 1,548.5 2,023.8  
Trading securities 60.7 81.0  
Fair value, Measurements, Recurring | Collateralized loan obligations      
Assets:      
Estimated fair value 785.9 588.3  
Fair value, Measurements, Recurring | Commercial mortgage-backed securities      
Assets:      
Estimated fair value 2,222.4 2,216.9  
Trading securities 131.8 140.0  
Fair value, Measurements, Recurring | Total fixed maturities, available for sale      
Assets:      
Estimated fair value 20,353.4 24,805.4  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1)      
Assets:      
Trading securities 0.0 0.0  
Investments held by variable interest entities 0.0 0.0  
Derivatives 0.0 0.0  
Residential tranches 0.0    
Total other invested assets 0.0    
Assets held in separate accounts 0.0 0.0  
Total assets carried at fair value by category 59.6 100.8  
Liabilities:      
Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) 0.0 0.0  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Corporate securities      
Assets:      
Estimated fair value 0.0 0.0  
Equity securities - corporate securities 59.6 100.8  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | United States Treasury securities and obligations of United States government corporations and agencies      
Assets:      
Estimated fair value 0.0 0.0  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | States and political subdivisions      
Assets:      
Estimated fair value 0.0 0.0  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Foreign governments      
Assets:      
Estimated fair value 0.0 0.0  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Asset-backed securities      
Assets:      
Estimated fair value 0.0 0.0  
Trading securities 0.0 0.0  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Agency residential mortgage-backed securities      
Assets:      
Estimated fair value 0.0 0.0  
Trading securities 0.0 0.0  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Non-agency residential mortgage-backed securities      
Assets:      
Estimated fair value 0.0 0.0  
Trading securities 0.0 0.0  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Collateralized loan obligations      
Assets:      
Estimated fair value 0.0 0.0  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Commercial mortgage-backed securities      
Assets:      
Estimated fair value 0.0 0.0  
Trading securities 0.0 0.0  
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Total fixed maturities, available for sale      
Assets:      
Estimated fair value 0.0 0.0  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2)      
Assets:      
Trading securities 207.4 210.8  
Investments held by variable interest entities 1,077.6 1,197.4  
Derivatives 56.7 227.5  
Residential tranches 0.0    
Total other invested assets 56.7    
Assets held in separate accounts 2.7 3.9  
Total assets carried at fair value by category 21,438.9 26,323.5  
Liabilities:      
Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) 0.0 0.0  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Corporate securities      
Assets:      
Estimated fair value 11,584.9 15,361.1  
Equity securities - corporate securities 0.0 18.8  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | United States Treasury securities and obligations of United States government corporations and agencies      
Assets:      
Estimated fair value 158.7 219.6  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | States and political subdivisions      
Assets:      
Estimated fair value 2,388.5 3,004.2  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Foreign governments      
Assets:      
Estimated fair value 74.7 98.5  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Asset-backed securities      
Assets:      
Estimated fair value 1,230.0 1,136.3  
Trading securities 15.1 5.8  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Agency residential mortgage-backed securities      
Assets:      
Estimated fair value 175.0 40.4  
Trading securities 0.3 0.4  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Non-agency residential mortgage-backed securities      
Assets:      
Estimated fair value 1,492.3 2,023.8  
Trading securities 60.2 77.5  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Collateralized loan obligations      
Assets:      
Estimated fair value 782.5 583.3  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Commercial mortgage-backed securities      
Assets:      
Estimated fair value 2,207.9 2,197.9  
Trading securities 131.8 127.1  
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Total fixed maturities, available for sale      
Assets:      
Estimated fair value 20,094.5 24,665.1  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3)      
Assets:      
Trading securities 0.5 16.4  
Investments held by variable interest entities 0.0 2.2  
Derivatives 0.0 0.0  
Residential tranches 18.3    
Total other invested assets 18.3    
Assets held in separate accounts 0.0 0.0  
Total assets carried at fair value by category 353.4 170.4  
Liabilities:      
Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) 1,297.0 1,724.1  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Corporate securities      
Assets:      
Estimated fair value 127.8 89.7  
Equity securities - corporate securities 75.7 11.5  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | United States Treasury securities and obligations of United States government corporations and agencies      
Assets:      
Estimated fair value 0.0 0.0  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | States and political subdivisions      
Assets:      
Estimated fair value 0.0 0.0  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Foreign governments      
Assets:      
Estimated fair value 0.0 0.0  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Asset-backed securities      
Assets:      
Estimated fair value 57.0 26.6  
Trading securities 0.0 0.0  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Agency residential mortgage-backed securities      
Assets:      
Estimated fair value 0.0 0.0  
Trading securities 0.0 0.0  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Non-agency residential mortgage-backed securities      
Assets:      
Estimated fair value 56.2 0.0  
Trading securities 0.5 3.5  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Collateralized loan obligations      
Assets:      
Estimated fair value 3.4 5.0  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Commercial mortgage-backed securities      
Assets:      
Estimated fair value 14.5 19.0  
Trading securities 0.0 12.9  
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Total fixed maturities, available for sale      
Assets:      
Estimated fair value $ 258.9 $ 140.3