Closed Block (Tables)

12 Months Ended

Dec. 31, 2023

Closed Block

Closed Block Liabilities and Assets Designated to the Closed Block (Table)

	December 31, 2023		December 31, 2022
	(in millions)
Closed Block liabilities
Future policy benefits and claims	$	2,982.9	$	3,128.1
Other policyholder funds		5.1		5.1
Policyholder dividends payable		157.2		168.2
Income taxes currently payable		4.0		—
Other liabilities		23.2		24.9
Total Closed Block liabilities		3,172.4		3,326.3
Assets designated to the Closed Block
Fixed maturities, available-for-sale		1,766.7		1,690.2
Fixed maturities, trading		2.0		2.0
Equity securities		0.9		0.8
Mortgage loans		469.5		544.9
Policy loans		379.9		407.4
Other investments		61.2		62.2
Total investments		2,680.2		2,707.5
Cash and cash equivalents		6.1		62.0
Accrued investment income		32.6		30.3
Reinsurance recoverable and deposit receivable		3.5		3.9
Premiums due and other receivables		3.4		4.1
Deferred tax asset		52.1		62.0
Other assets		5.3		0.1
Total assets designated to the Closed Block		2,783.2		2,869.9
Excess of Closed Block liabilities over assets designated to the Closed Block		389.2		456.4
Amounts included in accumulated other comprehensive income		(69.6)		(111.9)
Maximum future earnings to be recognized from Closed Block assets and liabilities	$	319.6	$	344.5

Closed Block Revenues and Expenses (Table)

	For the year ended December 31,
	2023		2022		2021
	(in millions)
Revenues
Premiums and other considerations	$	166.1	$	178.0	$	196.1
Net investment income		127.3		129.1		137.6
Net realized capital losses		(10.0)		(21.2)		(4.6)
Total revenues		283.4		285.9		329.1
Expenses
Benefits, claims and settlement expenses		161.6		184.3		212.0
Dividends to policyholders		86.8		92.5		92.6
Operating expenses		2.6		2.2		2.3
Total expenses		251.0		279.0		306.9
Closed Block revenues, net of Closed Block expenses, before income taxes		32.4		6.9		22.2
Income taxes		6.1		0.7		3.9
Closed Block revenues, net of Closed Block expenses and income taxes		26.3		6.2		18.3
Funding adjustments and other transfers		(1.4)		28.5		(4.0)
Closed Block revenues, net of Closed Block expenses, income taxes and funding adjustments	$	24.9	$	34.7	$	14.3

Change in Maximum Future Earnings of the Closed Block (Table)

	For the year ended December 31,
	2023		2022		2021
	(in millions)
Beginning of year	$	344.5	$	379.2	$	393.5
End of year		319.6		344.5		379.2
Change in maximum future earnings	$	(24.9)	$	(34.7)	$	(14.3)