XML 82 R56.htm IDEA: XBRL DOCUMENT v3.23.1
Long-Duration Insurance Contracts - Balances of and Changes in the LFPB (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jan. 01, 2022
Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Liability for future policy benefits $ 1,772.4 $ 1,718.0      
Whole Life          
Present Value of Expected Net Premiums          
Beginning balance 215.1 183.0 $ 176.5    
Beginning balance at original discount rate 245.9 157.6 143.5    
Change in cash flow assumptions   0.0   $ 5.2 $ 2.4
Actual variances from expected experience   0.8   7.2 8.8
Adjusted balance   246.7   251.7 154.7
Issuances 2.8 12.5 13.3    
Interest accruals 1.8 6.7 6.2    
Net premiums collected (4.7) (25.0) (16.6)    
Ending balance at original discount rate 246.6 245.9 157.6    
Effect of changes in discount rate assumptions (24.4) (30.8) 25.4    
Ending balance 222.2 215.1 183.0    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Beginning balance 493.6 500.7 507.1    
Beginning balance at original discount rate 585.4 581.9 386.3 566.1 362.5
Changes in cash flow assumptions   0.0   5.2 2.8
Actual variances from expected experience   0.8   7.7 8.7
Adjusted balance   582.7   579.0 374.0
Issuances 2.9 12.4 13.3    
Interest accruals 4.7 18.0 17.1    
Benefit payments (4.9) (27.5) (18.1)    
Ending balance at original discount rate 585.4 581.9 386.3    
Effect of changes in discount rate assumptions (70.3) (88.3) 114.4    
Ending balance 515.1 493.6 500.7    
Liability for future policy benefits 292.8 278.4 317.7   330.6
Less: Reinsurance recoverable (65.0) (63.1) (0.5)   (0.1)
Net liability for future policy benefits, after reinsurance recoverable 227.8 215.3      
Impact of flooring on net liability for future policy benefits 0.3 1.1      
Net liability for future policy benefits at March 31, 2023 228.1 216.4 317.2   330.3
Term Life          
Present Value of Expected Net Premiums          
Beginning balance 234.7 253.1 244.1    
Beginning balance at original discount rate 265.4 221.1 200.8    
Change in cash flow assumptions   0.0   18.7 (4.5)
Actual variances from expected experience   (1.5)   (4.2) 6.9
Adjusted balance   263.9   249.9 203.2
Issuances 6.5 28.0 29.8    
Interest accruals 2.5 9.0 7.9    
Net premiums collected (6.9) (21.5) (19.8)    
Ending balance at original discount rate 266.0 265.4 221.1    
Effect of changes in discount rate assumptions (22.2) (30.7) 32.0    
Ending balance 243.8 234.7 253.1    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Beginning balance 347.0 370.6 364.7    
Beginning balance at original discount rate 405.2 401.0 319.5 360.0 294.0
Changes in cash flow assumptions   0.0   21.5 (4.8)
Actual variances from expected experience   (1.5)   (4.7) 7.2
Adjusted balance   399.5   376.8 296.4
Issuances 6.6 28.3 29.8    
Interest accruals 4.0 14.4 12.0    
Benefit payments (4.9) (18.5) (18.7)    
Ending balance at original discount rate 405.2 401.0 319.5    
Effect of changes in discount rate assumptions (40.2) (54.0) 51.1    
Ending balance 365.0 347.0 370.6    
Liability for future policy benefits 121.2 112.2 117.6   120.5
Less: Reinsurance recoverable (16.6) (15.3) (5.5)   (5.4)
Net liability for future policy benefits, after reinsurance recoverable 104.6 96.9      
Impact of flooring on net liability for future policy benefits 0.0 0.2      
Net liability for future policy benefits at March 31, 2023 104.6 97.1 112.1   114.2
Experience Life          
Present Value of Expected Net Premiums          
Beginning balance 68.3 74.6 78.0    
Beginning balance at original discount rate 65.5 55.8 55.2    
Change in cash flow assumptions   0.0   9.1 (3.3)
Actual variances from expected experience   0.2   3.0 6.3
Adjusted balance   65.7   68.0 58.2
Issuances 0.0 0.0 0.0    
Interest accruals 1.0 3.3 3.2    
Net premiums collected (1.7) (5.8) (5.6)    
Ending balance at original discount rate 65.0 65.5 55.8    
Effect of changes in discount rate assumptions 4.8 2.8 18.8    
Ending balance 69.8 68.3 74.6    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Beginning balance 867.5 1,172.7 1,269.3    
Beginning balance at original discount rate 801.5 805.2 802.5 802.6 813.5
Changes in cash flow assumptions   0.0   11.0 (3.6)
Actual variances from expected experience   0.4   3.6 6.6
Adjusted balance   805.6   817.2 816.5
Issuances 0.0 0.0 0.0    
Interest accruals 11.9 47.4 47.9    
Benefit payments (16.0) (59.4) (61.9)    
Ending balance at original discount rate 801.5 805.2 802.5    
Effect of changes in discount rate assumptions 91.0 62.3 370.2    
Ending balance 892.5 867.5 1,172.7    
Liability for future policy benefits 822.8 799.3 1,098.1   1,191.3
Less: Reinsurance recoverable (0.8) (0.8) (1.1)   (1.3)
Net liability for future policy benefits, after reinsurance recoverable 822.0 798.5      
Impact of flooring on net liability for future policy benefits 0.0 0.0      
Net liability for future policy benefits at March 31, 2023 822.0 798.5 1,097.0   1,189.3
Limited Pay Whole Life          
Present Value of Expected Net Premiums          
Beginning balance 29.7 29.7 25.4    
Beginning balance at original discount rate 32.4 27.2 22.0    
Change in cash flow assumptions   0.0   2.0 0.0
Actual variances from expected experience   0.5   1.6 1.0
Adjusted balance   32.9   30.8 23.0
Issuances 1.0 6.3 10.2    
Interest accruals 0.3 1.1 0.8    
Net premiums collected (1.1) (5.8) (6.8)    
Ending balance at original discount rate 33.1 32.4 27.2    
Effect of changes in discount rate assumptions (1.9) (2.7) 2.5    
Ending balance 31.2 29.7 29.7    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Beginning balance 79.4 102.9 95.0    
Beginning balance at original discount rate 100.3 98.6 86.6 86.6 73.4
Changes in cash flow assumptions   0.0   2.0 0.0
Actual variances from expected experience   0.6   1.4 1.1
Adjusted balance   99.2   90.0 74.5
Issuances 1.0 6.4 10.2    
Interest accruals 0.9 3.4 2.9    
Benefit payments (0.8) (1.2) (1.0)    
Ending balance at original discount rate 100.3 98.6 86.6    
Effect of changes in discount rate assumptions (15.9) (19.2) 16.3    
Ending balance 84.4 79.4 102.9    
Liability for future policy benefits 53.3 49.6 73.2   69.5
Less: Reinsurance recoverable (0.1) 0.0 (0.2)   (0.1)
Net liability for future policy benefits, after reinsurance recoverable 53.2 49.6      
Impact of flooring on net liability for future policy benefits 0.0 0.0      
Net liability for future policy benefits at March 31, 2023 53.2 49.6 73.0   69.3
Supplemental health          
Present Value of Expected Net Premiums          
Beginning balance 167.4 221.5 233.0    
Beginning balance at original discount rate 205.1 217.5 218.2    
Change in cash flow assumptions   0.0   12.2 (1.8)
Actual variances from expected experience   (1.4)   (25.3) 6.3
Adjusted balance   203.7   210.0 222.7
Issuances 5.3 12.0 13.0    
Interest accruals 1.5 5.9 5.9    
Net premiums collected (5.4) (22.8) (24.1)    
Ending balance at original discount rate 205.1 205.1 217.5    
Effect of changes in discount rate assumptions (32.6) (37.7) 4.0    
Ending balance 172.5 167.4 221.5    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Beginning balance 431.7 580.6 626.9    
Beginning balance at original discount rate 530.6 537.1 572.6 584.2 589.1
Changes in cash flow assumptions   0.0   13.8 (3.0)
Actual variances from expected experience   (1.7)   (30.0) 6.2
Adjusted balance   535.4   568.0 592.3
Issuances 5.3 12.0 13.0    
Interest accruals 3.6 15.0 15.7    
Benefit payments (13.7) (57.9) (48.4)    
Ending balance at original discount rate 530.6 537.1 572.6    
Effect of changes in discount rate assumptions (92.9) (105.4) 8.0    
Ending balance 437.7 431.7 580.6    
Liability for future policy benefits 265.3 264.4 359.1    
Less: Reinsurance recoverable (3.7) (3.4) 0.0    
Net liability for future policy benefits, after reinsurance recoverable 261.6 261.0      
Impact of flooring on net liability for future policy benefits 0.0 0.0      
Net liability for future policy benefits at March 31, 2023 261.6 261.0 359.1    
Cancer          
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Net liability for future policy benefits at March 31, 2023 101.7 101.8 140.8   163.5
Accident          
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Net liability for future policy benefits at March 31, 2023 22.2 21.8 28.7   31.2
Disability          
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Net liability for future policy benefits at March 31, 2023 23.7 23.1 29.3   32.0
Other          
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Net liability for future policy benefits at March 31, 2023 114.0 114.3 160.3   188.8
SPIA (life contingent)          
Present Value of Expected Net Premiums          
Beginning balance 0.0 0.0 0.0    
Beginning balance at original discount rate 0.0 0.0 0.0    
Change in cash flow assumptions   0.0   0.0 0.0
Actual variances from expected experience   0.0   0.0 0.0
Adjusted balance   0.0   0.0 0.0
Issuances 2.0 5.3 3.7    
Interest accruals 0.0 0.0 0.0    
Net premiums collected (2.0) (5.3) (3.7)    
Ending balance at original discount rate 0.0 0.0 0.0    
Effect of changes in discount rate assumptions 0.0 0.0 0.0    
Ending balance 0.0 0.0 0.0    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]          
Beginning balance 103.3 124.7 136.5    
Beginning balance at original discount rate 113.3 113.4 111.6 115.7 115.9
Changes in cash flow assumptions   0.0   0.0 0.0
Actual variances from expected experience   (0.5)   0.4 (0.4)
Adjusted balance   112.9   $ 116.1 115.5
Issuances 2.4 5.3 3.7    
Interest accruals 1.1 4.3 4.5    
Benefit payments (3.1) (12.3) (12.1)    
Ending balance at original discount rate 113.3 113.4 111.6    
Effect of changes in discount rate assumptions (7.4) (10.1) 13.1    
Ending balance 105.9 103.3 124.7    
Liability for future policy benefits 105.9 103.3 124.7   136.5
Less: Reinsurance recoverable (3.5) (3.2) 0.0   0.0
Net liability for future policy benefits, after reinsurance recoverable 102.4 100.1      
Impact of flooring on net liability for future policy benefits 0.0 0.0      
Net liability for future policy benefits at March 31, 2023 $ 102.4 $ 100.1 $ 124.7   $ 136.5