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Income Tax (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Total income tax expense (benefit) is allocated as follows:
Year Ended December 31
202520242023
(in millions of dollars)
Net Income$195.0 $472.2 $356.3 
Stockholders' Equity - Accumulated Other Comprehensive Income (Loss)
Change in Net Unrealized Gain (Loss) on Securities
200.4 (226.6)300.6 
Change in the Effect of Discount Rate Assumptions on the Liability for Future Policy and Contract Benefits, Net of Reinsurance
(66.2)488.9 (256.5)
Change in Net Loss on Derivatives
(3.1)(51.5)(17.0)
Change in Foreign Currency Translation Adjustment0.1 1.1 0.9 
Change in Unrecognized Pension and Postretirement Benefit Costs35.6 12.0 (2.7)
Total$361.8 $696.1 $381.6 
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the income tax provision at the U.S. federal statutory rate to the income tax rate as reported in our consolidated statements of income is presented below. Certain prior period amounts have been reclassified to conform to the current period presentation.

(in millions of dollars, except rates)
Year Ended December 31
202520242023
Amount
Percent
AmountPercentAmountPercent
U.S. federal statutory rate
$196.0 21.0 %$472.8 21.0 %$344.4 21.0 %
State and local income tax, net of federal income tax effect 1
1.8 0.2 (7.3)(0.3)(3.5)(0.2)
Foreign tax effects
0.1 — 2.8 0.1 (2.0)(0.1)
Effect of cross-border tax laws
3.5 0.4 (0.9)— 8.4 0.5 
Tax credits
(10.4)(1.1)(2.1)(0.1)(2.3)(0.1)
Nontaxable or nondeductible items
(4.8)(0.5)(3.9)(0.2)(1.5)(0.1)
Other Adjustments
Interest on Unrecognized Tax Benefits11.2 1.2 13.2 0.6 12.2 0.7 
Other(2.4)(0.3)(2.4)(0.1)0.6 — 
Effective Tax Rate
$195.0 20.9 %$472.2 21.0 %$356.3 21.7 %
1State taxes in Minnesota, California, and New York made up the majority (greater than 50 percent) of the tax effect in this category for 2025. State taxes in Maine made up the majority (greater than 50 percent) of the tax effect in this category for 2024 and 2023.
Schedule of Deferred Tax Assets and Liabilities
Our net deferred tax asset consists of the following. Certain prior year amounts have been reclassified to conform to current presentation.

December 31
20252024
(in millions of dollars)
Deferred Tax Asset
Invested Assets$379.3 $593.2 
Employee Benefits
132.3 146.3 
Minimum Tax Credit Carryforward
101.2 — 
Other
53.2 36.8 
Gross Deferred Tax Asset666.0 776.3 
Less: Valuation Allowance
11.5 12.1 
Net Deferred Tax Asset654.5 764.2 
Deferred Tax Liability
Deferred Acquisition Costs217.3 167.0 
Fixed Assets
40.1 13.8 
Reserves67.2 85.9 
Cost of Reinsurance234.8 110.4 
Other54.4 48.4 
Gross Deferred Tax Liability613.8 425.5 
Net Deferred Tax Asset
$40.7 $338.7 
Schedule of Income before Income Tax, Domestic and Foreign
Our consolidated statements of income include amounts subject to both domestic and foreign taxation. The income and related tax expense (benefit) are as follows:

Year Ended December 31
202520242023
(in millions of dollars)
Income Before Tax
   Domestic$803.7 $2,129.5 $1,506.2 
   Foreign129.8 121.8 133.9 
   Total$933.5 $2,251.3 $1,640.1 
Current Tax Expense (Benefit)
   Federal$53.6 $393.1 $440.4 
   State and Local1.1 (8.5)(2.5)
   Foreign17.0 47.5 14.1 
   Total71.7 432.1 452.0 
Deferred Tax Expense (Benefit)
   Federal112.0 59.8 (106.2)
   State and Local0.9 (0.6)(1.5)
   Foreign10.4 (19.1)12.0 
   Total123.3 40.1 (95.7)
Total Tax Expense$195.0 $472.2 $356.3 
Schedule of Unrecognized Tax Benefits Roll Forward
Our consolidated statements of income include the following changes in unrecognized tax benefits.

December 31
202520242023
(in millions of dollars)
Balance at Beginning of Year$136.0 $156.7 $177.4 
Decreases for Tax Positions Related to Prior Years(20.7)(20.7)(20.7)
Balance at End of Year115.3 136.0 156.7 
Less Tax Attributable to Temporary Items Included Above— (21.2)(42.4)
Total Unrecognized Tax Benefits That if Recognized Would Affect the Effective Tax Rate$115.3 $114.8 $114.3