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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Nature and Amount of Collateral Received From and Posted To Derivative Counterparty The table below summarizes the nature and amount of collateral received from and posted to our derivative counterparties.
December 31
20252024
(in millions of dollars)
Carrying Value of Collateral Received from Counterparties
Cash$1.6 $3.6 
Fixed Maturity Securities4.2 8.4 
$5.8 $12.0 
Carrying Value of Collateral Posted to Counterparties
Cash$— $4.0 
Fixed Maturity Securities244.3 196.7 
$244.3 $200.7 
Fair Value Hedges Carrying Amount of Hedged Assets and Liabilities and Cumulative Basis Adjustments
The following table summarizes the amortized cost, carrying amount of hedged assets, and the related cumulative basis adjustments related to our fair value hedges:

December 31, 2025
(in millions of dollars)
Amortized Cost of Hedged Assets
Carrying Amount of Hedged Assets
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets
Fixed maturity securities:
Receive fixed functional currency interest, pay fixed foreign currency interest
$793.4 $695.0 $24.7 
December 31, 2024
(in millions of dollars)
Amortized Cost of Hedged Assets
Carrying Amount of Hedged Assets
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets
Fixed maturity securities:
Receive fixed functional currency interest, pay fixed foreign currency interest
$648.4 $551.0 $(46.3)
Location and Fair Values of Derivative Financial Instruments
The following tables summarize the notional amounts and fair values of derivative financial instruments, as reported in our consolidated balance sheets. Derivative assets are included in other long-term investments, while derivative liabilities are included in other liabilities within our consolidated balance sheets. The notional amounts represent the basis upon which our counterparty pay and receive amounts are calculated.

 December 31, 2025
 Derivative AssetsDerivative Liabilities
 Notional
Amount		Fair
Value		Fair
Value
(in millions of dollars)
Designated as Hedging Instruments
Cash Flow Hedges
Forward Benchmark Interest Rate Locks$2,603.0 $2.3 $222.9 
Foreign Currency Interest Rate Swaps127.3 14.3 1.7 
Total Cash Flow Hedges2,730.3 16.6 224.6 
Fair Value Hedges
Foreign Currency Interest Rate Swaps768.6 35.0 29.0 
Total Designated as Hedging Instruments$3,498.9 $51.6 $253.6 
Not Designated as Hedging Instruments
Foreign Currency Forwards$48.9 $0.1 $1.0 
Foreign Currency Interest Rate Swaps115.6 0.2 15.1 
Total Return Swaps154.8 — — 
Embedded Derivative in Modified Coinsurance Arrangement— 17.8 — 
Total Not Designated as Hedging Instruments$319.3 $18.1 $16.1 
Total Derivatives$3,818.2 $69.7 $269.7 
 December 31, 2024
 Derivative AssetsDerivative Liabilities
 Notional
Amount		Fair
Value		Fair
Value
(in millions of dollars)
Designated as Hedging Instruments
Cash Flow Hedges
Forward Benchmark Interest Rate Locks$2,570.0 $3.4 $223.2 
Foreign Currency Interest Rate Swaps139.1 17.6 1.1 
Total Cash Flow Hedges2,709.1 21.0 224.3 
Fair Value Hedges
Foreign Currency Interest Rate Swaps736.4 54.7 15.0 
Total Designated as Hedging Instruments$3,445.5 $75.7 $239.3 
Not Designated as Hedging Instruments
Foreign Currency Forwards$51.1 $3.1 $— 
Foreign Currency Interest Rate Swaps125.9 0.6 16.4 
Total Return Swaps128.9 — — 
Embedded Derivative in Modified Coinsurance Arrangement— 11.5 — 
Total Not Designated as Hedging Instruments$305.9 $15.2 $16.4 
Total Derivatives$3,751.4 $90.9 $255.7 
Location of Gains and Losses on Derivative Instruments Designated as Cash Flow Hedging Instruments
The following tables summarize the location of gains and losses of derivative financial instruments designated as hedging instruments, as reported in our consolidated statements of income.

 Year Ended December 31, 2025
Net Investment Income
Net Investment Loss
Interest and Debt Expense
 (in millions of dollars)
Total Income and Expense Presented in the Consolidated Statements of Income of Which Hedged Items are Recorded$2,032.7 $(106.6)$208.8 
Gain (Loss) on Cash Flow Hedging Relationships
Interest Rate Swaps:
Hedged items58.6 37.7 2.9 
Derivatives Designated as Hedging Instruments8.4 2.2 0.2 
Foreign Exchange Contracts:
Hedged items7.8 (2.1)— 
Derivatives Designated as Hedging Instruments0.6 2.5 — 
Forward Benchmark Interest Rate Locks:
Hedged items56.2 0.5 — 
Derivatives Designated as Hedging Instruments(1.7)(3.1)— 
Gain (Loss) on Fair Value Hedging Relationships
Foreign Exchange Contracts:
Hedged items21.5 71.0 — 
Derivatives Designated as Hedging Instruments0.8 (71.0)— 
 Year Ended December 31, 2024
Net Investment Income
Net Investment Loss
Interest and Debt Expense
 (in millions of dollars)
Total Income and Expense Presented in the Consolidated Statements of Income of Which Hedged Items are Recorded$2,130.0 $(34.6)$201.1 
Gain (Loss) on Cash Flow Hedging Relationships
Interest Rate Swaps:
Hedged items109.6 — 2.9 
Derivatives Designated as Hedging Instruments17.4 — — 
Foreign Exchange Contracts:
Hedged items8.6 (0.4)— 
Derivatives Designated as Hedging Instruments0.7 0.4 — 
Forward Benchmark Interest Rate Locks:
Hedged items40.7 — — 
Derivatives Designated as Hedging Instruments(1.0)— — 
Gain (Loss) on Fair Value Hedging Relationships
Foreign Exchange Contracts:
Hedged items17.1 (40.2)— 
Derivatives Designated as Hedging Instruments14.5 40.2 — 
 Year Ended December 31, 2023
Net Investment Income
Net Investment Loss
Interest and Debt Expense
 (in millions of dollars)
Total Income and Expense Presented in the Consolidated Statements of Income of Which Hedged Items are Recorded$2,096.7 $(36.0)$194.8 
Gain (Loss) on Cash Flow Hedging Relationships
Interest Rate Swaps:
Hedged items198.6 0.8 2.9 
Derivatives Designated as Hedging Instruments35.2 — — 
Foreign Exchange Contracts:
Hedged items9.6 0.4 — 
Derivatives Designated as Hedging Instruments— (0.4)— 
Forward Benchmark Interest Rate Locks:
Hedged items18.5 — — 
Derivatives Designated as Hedging Instruments(0.5)— — 
Gain (Loss) on Fair Value Hedging Relationships
Foreign Exchange Contracts:
Hedged items14.5 18.7 — 
Derivatives Designated as Hedging Instruments11.1 (18.7)— 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table summarizes the location of gains and losses of derivative financial instruments designated as cash flow hedging instruments, as reported in our consolidated statements of comprehensive income (loss).

Year Ended December 31
 202520242023
 (in millions of dollars)
Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives
Forward Benchmark Interest Rate Locks
$(39.6)$(213.8)$(22.5)
Foreign Exchange Contracts(3.7)7.2 (4.3)
Total$(43.3)$(206.6)$(26.8)
Gains and Losses on Derivatives Not Designated as Hedging Instruments
The following table summarizes the location of gains and losses on our derivatives not designated as hedging instruments, as reported in our consolidated statements of income.
 Year Ended December 31
 202520242023
 (in millions of dollars)
Net Investment Gain (Loss)
Foreign Exchange Contracts$(5.7)$3.8 $(0.6)
Embedded Derivative in Modified Coinsurance Arrangement6.3 13.0 12.4 
Total Return Swaps
2.8 — — 
Total$3.4 $16.8 $11.8 
Net Investment Income
Total Return Swaps
$0.9 $— $— 
Other Expenses
(Gain) Loss on Total Return Swaps$(15.7)$(12.5)$(13.6)