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SHARE CAPITAL (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Movements in Shares Issued and Outstanding The number of preferred shares issued and outstanding is represented in the table below:
As of
in millionsDecember 31, 2023December 31, 2022
Preferred shares issued (1)
4.04.0
Preferred shares outstanding (1)
4.04.0
__________
(1)    Preferred shares are held by MassMutual and are subject to a lock-up period of five years, which prohibits the sale of preferred shares by MassMutual until May 24, 2024.
The number of common shares and common share equivalents issued are represented in the table below:

In millionsDecember 31, 2023December 31, 2022December 31, 2021
Common shares issued566.1 566.1 566.1 
Less: Treasury shares for which dividend and voting rights do not apply
(116.6)(111.3)(104.9)
Common shares outstanding449.5 454.8 461.2 
Movements in Treasury Shares
Movements in Treasury Shares comprise:
Year ended
In millionsDecember 31, 2023December 31, 2022December 31, 2021
Beginning balance119.5 115.7 121.6 
Acquisition of common shares11.5 11.3 2.7 
Distribution of common shares(6.0)(7.1)(8.4)
Common shares distributed to meet ESPP obligation(0.3)(0.4)(0.2)
Ending balance124.7 119.5 115.7