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Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 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 HedgesForeign Currency Translation AdjustmentUnrecognized Pension and Postretirement Benefit CostsTotal
(in millions of dollars)
Balance at March 31, 2023$(2,205.2)$(260.0)$7.8 $(365.4)$(339.5)$(3,162.3)
Other Comprehensive Income (Loss) Before Reclassifications(565.5)260.1 (34.1)38.3 3.3 (297.9)
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss8.1 — (7.0)— 1.5 2.6 
Net Other Comprehensive Income (Loss)(557.4)260.1 (41.1)38.3 4.8 (295.3)
Balance at June 30, 2023$(2,762.6)$0.1 $(33.3)$(327.1)$(334.7)$(3,457.6)
Balance at March 31, 2022$1,120.6 $(4,912.6)$51.4 $(306.1)$(391.8)$(4,438.5)
Other Comprehensive Income (Loss) Before Reclassifications(2,683.8)3,371.4 5.5 (61.4)2.0 633.7 
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss2.8 — (10.5)— 3.0 (4.7)
Net Other Comprehensive Income (Loss)(2,681.0)3,371.4 (5.0)(61.4)5.0 629.0 
Balance at June 30, 2022$(1,560.4)$(1,541.2)$46.4 $(367.5)$(386.8)$(3,809.5)
Balance at December 31, 2022$(3,028.4)$313.9 $(9.6)$(390.1)$(334.1)$(3,448.3)
Other Comprehensive Income (Loss) Before Reclassifications257.9 (313.8)(8.5)63.0 (3.4)(4.8)
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss7.9 — (15.2)— 2.8 (4.5)
Net Other Comprehensive Income (Loss)265.8 (313.8)(23.7)63.0 (0.6)(9.3)
Balance at June 30, 2023$(2,762.6)$0.1 $(33.3)$(327.1)$(334.7)$(3,457.6)
Balance at December 31, 2021$4,014.4 $(8,570.7)$61.8 $(274.1)$(396.0)$(5,164.6)
Other Comprehensive Income (Loss) Before Reclassifications(5,587.6)7,029.5 5.9 (93.4)3.1 1,357.5 
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss12.8 — (21.3)— 6.1 (2.4)
Net Other Comprehensive Income (Loss)(5,574.8)7,029.5 (15.4)(93.4)9.2 1,355.1 
Balance at June 30, 2022$(1,560.4)$(1,541.2)$46.4 $(367.5)$(386.8)$(3,809.5)
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:

Change at June 30, 2023
June 30March 31December 31Three MonthsSix Months
202320232022EndedEnded
(in millions of dollars)
Future Policy Benefits$(27.1)$(437.9)$445.0 $410.8 $(472.1)
Reinsurance Recoverable(666.9)(592.3)(748.4)(74.6)81.5 
Income Tax694.1 770.2 617.3 (76.1)76.8 
Total$0.1 $(260.0)$313.9 $260.1 $(313.8)

Change at June 30, 2022
June 30March 31December 31Three MonthsSix Months
202220222021EndedEnded
(in millions of dollars)
Future Policy Benefits$(2,277.5)$(7,168.8)$(12,565.6)$4,891.3 $10,288.1 
Reinsurance Recoverable(379.8)236.6 992.5 (616.4)(1,372.3)
Income Tax1,116.1 2,019.6 3,002.4 (903.5)(1,886.3)
Total$(1,541.2)$(4,912.6)$(8,570.7)$3,371.4 $7,029.5 
Schedule of Reclassification out of Accumulated Other Comprehensive Income (Loss)
Amounts reclassified from accumulated other comprehensive income (loss) were recognized in our consolidated statements of income as follows:
Three Months Ended June 30Six Months Ended June 30
2023202220232022
(in millions of dollars)
Net Unrealized Loss on Securities
Net Investment Loss
Net Loss on Sales of Fixed Maturity Securities$(10.3)$(3.7)$(10.0)$(12.2)
Credit Losses on Fixed Maturity Securities— — — (4.1)
(10.3)(3.7)(10.0)(16.3)
Income Tax Benefit(2.2)(0.9)(2.1)(3.5)
Total$(8.1)$(2.8)$(7.9)$(12.8)
Net Gain (Loss) on Hedges
Net Investment Income
Gain on Interest Rate Swaps$8.9 $13.0 $19.3 $26.4 
Gain (Loss) on Foreign Exchange Contracts(0.1)0.2 (0.1)0.5 
Net Investment Gain
Gain on Foreign Exchange Contracts0.1 — 0.1 — 
8.9 13.2 19.3 26.9 
Income Tax Expense1.9 2.7 4.1 5.6 
Total$7.0 $10.5 $15.2 $21.3 
Unrecognized Pension and Postretirement Benefit Costs
Other Expenses
Amortization of Net Actuarial Loss$(1.8)$(3.8)$(3.6)$(7.8)
Amortization of Prior Service Credit— — 0.1 0.1 
(1.8)(3.8)(3.5)(7.7)
Income Tax Benefit(0.3)(0.8)(0.7)(1.6)
Total$(1.5)$(3.0)$(2.8)$(6.1)