Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Components of our accumulated other comprehensive loss, after tax, and related changes are as follows:

	Net Unrealized Gain (Loss) on Securities		Effect of Change in Discount Rate Assumptions on the LFPB1		Net Gain (Loss) on Hedges		Foreign Currency Translation Adjustment		Unrecognized Pension and Postretirement Benefit Costs		Total
	(in millions of dollars)
Balance at December 31, 2022	$	(3,028.4)	$	313.9	$	(9.6)	$	(390.1)	$	(334.1)	$	(3,448.3)
Other Comprehensive Income (Loss) Before Reclassifications	823.4		(573.9)		25.6		24.7		(6.7)		293.1
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss	(0.2)		—		(8.2)		—		1.3		(7.1)
Net Other Comprehensive Income (Loss)	823.2		(573.9)		17.4		24.7		(5.4)		286.0
Balance at March 31, 2023	$	(2,205.2)	$	(260.0)	$	7.8	$	(365.4)	$	(339.5)	$	(3,162.3)
Balance at December 31, 2021	$	4,014.4	$	(8,570.7)	$	61.8	$	(274.1)	$	(396.0)	$	(5,164.6)
Other Comprehensive Income (Loss) Before Reclassifications	(2,903.8)		3,658.1		0.4		(32.0)		1.1		723.8
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss	10.0		—		(10.8)		—		3.1		2.3
Net Other Comprehensive Income (Loss)	(2,893.8)		3,658.1		(10.4)		(32.0)		4.2		726.1
Balance at March 31, 2022	$	1,120.6	$	(4,912.6)	$	51.4	$	(306.1)	$	(391.8)	$	(4,438.5)
1Liability for Future Policy Benefits

Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits

The effect of change in discount rate assumptions on the liability for future policy benefits consists of the following components:

	March 31		December 31
	2023		2022		Change
	(in millions of dollars)
Future Policy Benefits	$	(437.9)	$	445.0	$	(882.9)
Reinsurance Recoverable	(592.3)		(748.4)		156.1
Income Tax	770.2		617.3		152.9
Total	$	(260.0)	$	313.9	$	(573.9)

	March 31		December 31
	2022		2021		Change
	(in millions of dollars)
Future Policy Benefits	$	(7,168.8)	$	(12,565.6)	$	5,396.8
Reinsurance Recoverable	236.6		992.5		(755.9)
Income Tax	2,019.6		3,002.4		(982.8)
Total	$	(4,912.6)	$	(8,570.7)	$	3,658.1

Schedule of Reclassification out of Accumulated Other Comprehensive Income (Loss)

Amounts reclassified from accumulated other comprehensive loss were recognized in our consolidated statements of income as follows:

	Three Months Ended March 31
	2023		2022
	(in millions of dollars)
Net Unrealized Gain (Loss) on Securities
Net Investment Gain (Loss)
Net Gain (Loss) on Sales of Fixed Maturity Securities	$	0.3	$	(8.5)
Credit Losses on Fixed Maturity Securities	—		(4.1)
	0.3		(12.6)
Income Tax Expense (Benefit)	0.1		(2.6)
Total	$	0.2	$	(10.0)
Net Gain (Loss) on Hedges
Net Investment Income
Gain on Interest Rate Swaps	$	10.4	$	13.4
Gain on Foreign Exchange Contracts	—		0.3
	10.4		13.7
Income Tax Expense	2.2		2.9
Total	$	8.2	$	10.8
Unrecognized Pension and Postretirement Benefit Costs
Other Expenses
Amortization of Net Actuarial Loss	$	(1.8)	$	(4.0)
Amortization of Prior Service Credit	0.1		0.1
	(1.7)		(3.9)
Income Tax Benefit	(0.4)		(0.8)
Total	$	(1.3)	$	(3.1)