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Liability for Unpaid Claims and Claim Adjustment Expenses (Tables)
 6 Months Ended
Jun. 30, 2022
Insurance [Abstract]  
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense
Changes in the liability for unpaid claims and claim adjustment expenses are as follows:
20222021
(in millions of dollars)
Balance at January 1$23,664.7 $24,180.2 
   Less Reinsurance Recoverable$8,697.8 $8,378.9 
Net Balance at January 1$14,966.9 $15,801.3 
Incurred Related to
   Current Year$3,525.6 $3,631.4 
   Prior Years
      Interest$317.8 $359.2 
      All Other Incurred$(366.6)$(236.4)
      Foreign Currency$(220.4)$25.0 
Total Incurred$3,256.4 $3,779.2 
Paid Related to
   Current Year$(1,248.2)$(1,274.7)
   Prior Years$(2,254.4)$(2,243.7)
Total Paid$(3,502.6)$(3,518.4)
Reserves Ceded Pursuant to Reinsurance Transaction$— $(990.0)
Net Balance at June 30
$14,720.7 $15,072.1 
   Plus Reinsurance Recoverable$8,372.3 $9,042.2 
Balance at June 30
$23,093.0 $24,114.3 
Reconciliation of Policy and Contract Benefits and Reserves for Future Policy and Contract Benefits to Balance Sheet Amounts
A reconciliation of policy and contract benefits and reserves for future policy and contract benefits as reported in our consolidated balance sheets to the liability for unpaid claims and claim adjustment expenses is as follows:
June 30
20222021
(in millions of dollars)
Policy and Contract Benefits$1,815.9 $1,890.4 
Reserves for Future Policy and Contract Benefits43,088.0 48,952.0 
Total44,903.9 50,842.4 
Less:
   Life Reserves for Future Policy and Contract Benefits8,418.8 8,431.1 
   Accident and Health Active Life Reserves13,287.9 12,910.4 
Adjustment Related to Unrealized Investment Gains and Losses104.2 5,386.6 
Liability for Unpaid Claims and Claim Adjustment Expenses$23,093.0 $24,114.3 
The adjustment related to unrealized investment gains and losses reflects the changes that would be necessary to policyholder liabilities if the unrealized investment gains and losses related to the corresponding available-for-sale securities had been realized. Changes in this adjustment are reported as a component of other comprehensive income (loss).