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Revenues from Contracts with Customers (Tables)
12 Months Ended
Dec. 31, 2022
Revenues from Contracts with Customers  
Disaggregation of Revenues from Contracts with Customers (Table)

For the year ended December 31,

    

2022

    

2021

    

2020

 

(in millions)

Revenue from contracts with customers by segment:

Retirement and Income Solutions:

Retirement and Income Solutions — Fee

 

$

522.2

 

$

399.3

 

$

250.5

Retirement and Income Solutions — Spread

11.4

 

9.9

 

8.6

Total Retirement and Income Solutions

533.6

 

409.2

 

259.1

U.S. Insurance Solutions:

Specialty Benefits insurance

12.2

 

12.1

 

12.1

Individual Life insurance

64.4

 

60.1

 

48.4

Eliminations

 

(0.1)

 

(0.1)

Total U.S. Insurance Solutions

76.6

 

72.1

 

60.4

Corporate

(0.8)

 

(1.0)

 

(0.8)

Total segment revenue from contracts with customers

609.4

 

480.3

 

318.7

Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1)

1,557.5

 

2,202.8

 

2,025.1

Pre-tax other adjustments (2)

41.0

 

(3.5)

 

9.8

Total fees and other revenues per consolidated statements of operations

 

$

2,207.9

 

$

2,679.6

 

$

2,353.6

(1)Fees and other revenues not within the scope of the revenue recognition guidance primarily represent revenue on contracts accounted for under the financial instruments or insurance contracts standards.
(2)Pre-tax other adjustments relate to revenues from exited business and the recognition of deferred front-end fee revenues for sales charges on retirement and life insurance products and certain market value adjustments to fee revenues.
Retirement and Income Solutions | Retirement and Income Solutions - Fee  
Revenues from Contracts with Customers  
Disaggregation of Revenues from Contracts with Customers (Table)

For the year ended December 31,

 

    

2022

    

2021

    

2020

 

(in millions)

 

Administrative service fee revenue

$

519.2

$

395.9

$

248.4

Other fee revenue

 

3.0

 

3.4

 

2.1

Total revenues from contracts with customers

 

522.2

 

399.3

 

250.5

Fees and other revenues not within the scope of revenue recognition guidance

 

1,187.0

 

1,299.6

 

1,130.4

Total fees and other revenues

 

1,709.2

 

1,698.9

 

1,380.9

Premiums and other considerations

 

 

0.5

 

4.9

Net investment income

 

527.0

 

442.3

 

423.0

Total operating revenues

$

2,236.2

$

2,141.7

$

1,808.8

Retirement and Income Solutions | Retirement and Income Solutions - Spread  
Revenues from Contracts with Customers  
Disaggregation of Revenues from Contracts with Customers (Table)

For the year ended December 31,

 

    

2022

    

2021

    

2020

 

(in millions)

Deposit account fee revenue

$

10.2

$

9.2

$

8.4

Commission income

1.2

0.7

0.2

Total revenues from contracts with customers

 

11.4

 

9.9

 

8.6

Fees and other revenues not within the scope of revenue recognition guidance

 

2.9

 

7.9

 

9.5

Total fees and other revenues

 

14.3

 

17.8

 

18.1

Premiums and other considerations

 

1,959.7

 

1,883.1

 

3,216.0

Net investment income

 

1,747.3

 

2,286.4

 

2,119.6

Total operating revenues

$

3,721.3

$

4,187.3

$

5,353.7

U.S. Insurance Solutions  
Revenues from Contracts with Customers  
Disaggregation of Revenues from Contracts with Customers (Table)

For the year ended December 31,

 

    

2022

    

2021

    

2020

 

(in millions)

 

Specialty Benefits insurance:

 

  

 

  

 

  

Administrative service fees

$

12.2

$

12.1

$

12.1

Total revenues from contracts with customers

 

12.2

 

12.1

 

12.1

Fees and other revenues not within the scope of revenue recognition guidance

 

18.5

 

19.0

 

19.2

Total fees and other revenues

 

30.7

 

31.1

 

31.3

Premiums and other considerations

 

2,771.1

 

2,496.5

 

2,330.8

Net investment income

 

179.8

 

179.2

 

160.6

Total operating revenues

$

2,981.6

$

2,706.8

$

2,522.7

For the year ended December 31,

 

    

2022

    

2021

    

2020

 

(in millions)

 

Individual Life insurance:

 

  

 

  

 

  

Administrative service fees

$

26.9

$

26.2

$

21.6

Commission income

 

37.5

 

33.9

 

26.8

Total revenues from contracts with customers

 

64.4

 

60.1

 

48.4

Fees and other revenues not within the scope of revenue recognition guidance

 

333.2

 

858.8

 

849.5

Total fees and other revenues

 

397.6

 

918.9

 

897.9

Premiums and other considerations

 

535.9

 

333.9

 

329.1

Net investment income

 

392.4

 

794.3

 

718.8

Total operating revenues

$

1,325.9

$

2,047.1

$

1,945.8

Corporate  
Revenues from Contracts with Customers  
Disaggregation of Revenues from Contracts with Customers (Table)

For the year ended December 31,

    

2022

    

2021

    

2020

(in millions)

Eliminations

$

(0.8)

$

(1.0)

$

(0.8)

Total revenues from contracts with customers

 

(0.8)

 

(1.0)

 

(0.8)

Fees and other revenues not within the scope of revenue recognition guidance

 

15.9

 

17.5

 

16.5

Total fees and other revenues

 

15.1

 

16.5

 

15.7

Premiums and other considerations

(2.1)

Net investment income

 

47.5

 

50.9

 

22.2

Total operating revenues

$

60.5

$

67.4

$

37.9