Other Comprehensive Income and Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2025

The tables below display the changes in Accumulated Other Comprehensive Loss by component for the three months ended June 30, 2025 and 2024.


(Dollars in Millions)	Net Unrealized Losses on Fixed Maturities		Net Unrealized Losses on Investments with an Allowance for Credit Losses		Net Unrecognized Postretirement Benefit Income		Gain (Loss) on Cash Flow Hedges		Change in Discount Rate on Future Life Policyholder Benefits		Total
Balance as of March 31, 2025	$	(633.1)	$	(2.2)	$	8.0	$	—	$	366.0	$	(261.3)
Other Comprehensive Income (Loss) Before Reclassifications	2.8		2.5		—		(1.6)		4.0		7.7
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax (Benefit) Expense of $(0.4), $(0.7), $(0.2), $0.1, $0.0 and $(1.2)	(1.4)		(2.5)		(0.4)		0.2		—		(4.1)
Other Comprehensive Income (Loss) Net of Tax Expense (Benefit) of $0.4, $0.0, $(0.2), $(0.3), $1.1, and $1.0	1.4		—		(0.4)		(1.4)		4.0		3.6
Balance as of June 30, 2025	$	(631.7)	$	(2.2)	$	7.6	$	(1.4)	$	370.0	$	(257.7)


(Dollars in Millions)	Net Unrealized Losses on Fixed Maturities		Net Unrealized Losses on Investments with an Allowance for Credit Losses		Net Unrecognized Postretirement Benefit Costs		Gain (Loss) on Cash Flow Hedges		Change in Discount Rate on Future Life Policyholder Benefits		Total
Balance as of March 31, 2024	$	(617.2)	$	(1.1)	$	8.7	$	2.5	$	272.1	$	(335.0)
Other Comprehensive (Loss) Income Before Reclassifications	(61.4)		(2.3)		—		(2.8)		85.9		19.4
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax Benefit of $(0.3), $0.0,$(0.4), $0.0, $0.0, and $(0.7)	(1.0)		(0.3)		(0.4)		—		—		(1.7)
Other Comprehensive (Loss) Income Net of Tax (Benefit) Expense of $(16.8), $(0.4), $(0.4), $(0.8) $22.9 and $4.5	(62.4)		(2.6)		(0.4)		(2.8)		85.9		17.7
Balance as of June 30, 2024	$	(679.6)	$	(3.7)	$	8.3	$	(0.3)	$	358.0	$	(317.3)

Note 12 - Other Comprehensive Income and Accumulated Other Comprehensive Loss (Continued)

The tables below display the changes in Accumulated Other Comprehensive Loss by component for the six months ended June 30, 2025 and 2024.


(Dollars in Millions)	Net Unrealized Losses on Fixed Maturities		Net Unrealized Losses on Investments with an Allowance for Credit Losses		Net Unrecognized Postretirement Benefit Income		Loss on Cash Flow Hedges		Change in Discount Rate on Future Life Policyholder Benefits		Total
Balance as of January 1, 2025	$	(687.8)	$	(3.2)	$	8.4	$	(2.2)	$	380.3	(304.5)
Other Comprehensive Income (Loss) Before Reclassifications	56.0		4.8		—		0.8		(10.3)		51.3
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax Benefit of $0.0, $(1.0), $(0.3), $0.0, $0.0 and $(1.3)	0.1		(3.8)		(0.8)		—		—		(4.5)
Other Comprehensive Income (Loss) Net of Tax Expense (Benefit) of $14.9, $0.3, $(0.3), $(0.4), $(2.7), and $11.8	56.1		1.0		(0.8)		0.8		(10.3)		46.8
Balance as of June 30, 2025	$	(631.7)	$	(2.2)	$	7.6	$	(1.4)	$	370.0	$	(257.7)


(Dollars in Millions)	Net Unrealized Losses on Fixed Maturities		Net Unrealized Losses on Investments with an Allowance for Credit Losses		Net Unrecognized Postretirement Benefit Costs		Loss on Cash Flow Hedges		Change in Discount Rate on Future Life Policyholder Benefits		Total
Balance as of January 1, 2024	$	(530.9)	$	(2.5)	$	9.5	$	2.5	$	160.6	$	(360.8)
Other Comprehensive (Loss) Income Before Reclassifications	(157.5)		(0.7)		—		(2.8)		197.4		36.4
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax Expense (Benefit) of $2.3, $(0.2), $(0.5), $0.0, $0.0 and $1.6	8.8		(0.5)		(1.2)		—		—		7.1
Other Comprehensive (Loss) Income Net of Tax (Benefit) Expense of $(39.5), $(0.5), $(0.5), $(0.8), $52.5, and $11.2	(148.7)		(1.2)		(1.2)		(2.8)		197.4		43.5
Balance as of June 30, 2024	$	(679.6)	$	(3.7)	$	8.3	$	(0.3)	$	358.0	$	(317.3)

Amounts reclassified from Accumulated Other Comprehensive Loss shown above are reported in Net Income as follows:


Components of AOCI			Condensed Consolidated Statements of Income Line Item Affected by Reclassifications
Net Unrealized Losses on Fixed Maturities			Net Realized Investment (Losses) Gains
Net Unrealized Losses on Investments with an Allowance for Credit Losses			Impairment Losses and Net Realized Investment (Losses) Gains
Net Unrecognized Postretirement Benefit Costs			Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses, Insurance and Other Expenses, and Interest Expense
Loss on Cash Flow Hedges			Net Investment Income and Interest Expense