CNO Financial (CNO) 10-K 24 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 08, 2023	Jun. 30, 2022
Document Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-31792
Entity Registrant Name	CNO Financial Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-3108137
Entity Address, Address Line One	11825 N. Pennsylvania Street
Entity Address, City or Town	Carmel,
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46032
City Area Code	(317)
Local Phone Number	817-6100
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 2
Entity Common Stock, Shares Outstanding		114,220,896
Documents Incorporated by Reference	Portions of the Registrant's definitive proxy statement for the 2023 annual meeting of shareholders are incorporated by reference into Part III of this report.
Entity Central Index Key	0001224608
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock, par value $0.01 per share
Document Information
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CNO
Security Exchange Name	NYSE
Rights to purchase Series E Junior Participating Preferred Stock
Document Information
Title of 12(b) Security	Rights to purchase Series E Junior Participating Preferred Stock
Security Exchange Name	NYSE
No trading symbol	true
5.125% Subordinated Debentures due 2060
Document Information
Title of 12(b) Security	5.125% Subordinated Debentures due 2060
Trading Symbol	CNOpA
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Indianapolis, Indiana
Auditor Firm ID	238

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investments:
Fixed maturities, available for sale, at fair value (net of allowance for credit losses: 2022 - $56.0 and 2021 - $7.6; amortized cost: 2022 - $23,384.2 and 2021 - $21,867.6)	$ 20,353.4	$ 24,805.4
Equity securities at fair value	135.3	131.1
Mortgage loans (net of allowance for credit losses: 2022 - $8.0 and 2021 - $5.6)	1,411.9	1,218.6
Policy loans	121.6	120.2
Trading securities	207.9	227.2
Investments held by variable interest entities (net of allowance for credit losses: 2022 - $5.5 and 2021 - $3.7; amortized cost: 2022 - $1,134.2 and 2021 - $1,206.8)	1,077.6	1,199.6
Other invested assets	1,034.7	1,224
Total investments	24,342.4	28,926.1
Cash and cash equivalents - unrestricted	575.7	632.1
Cash and cash equivalents held by variable interest entities	69.2	99.6
Accrued investment income	235.6	216.4
Present value of future profits	212.2	222.6
Deferred acquisition costs	1,913.4	1,112
Reinsurance receivables (net of allowance for credit losses: 2022 - $2.0 and 2021 - $3.0)	4,241.7	4,354.3
Income tax assets, net	1,165.5	118.3
Assets held in separate accounts	2.7	3.9
Other assets	580.8	519.1
Total assets	33,339.2	36,204.4
Liabilities for insurance products:
Policyholder account liabilities	14,858.3	13,689.7
Future policy benefits	11,809.1	11,670.7
Liability for policy and contract claims	456.5	501.8
Unearned and advanced premiums	235	246.7
Liabilities related to separate accounts	2.7	3.9
Other liabilities	693.9	830.9
Investment borrowings	1,639.5	1,715.8
Borrowings related to variable interest entities	1,104.6	1,147.9
Notes payable – direct corporate obligations	1,138.8	1,137.3
Total liabilities	31,938.4	30,944.7
Commitments and Contingencies
Shareholders' equity:
Common stock ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: 2022 - 114,343,070 and 2021 - 120,377,152)	1.1	1.2
Additional paid-in capital	2,033.8	2,184.2
Accumulated other comprehensive income	(2,093.1)	1,947.1
Retained earnings	1,459	1,127.2
Total shareholders' equity	1,400.8	5,259.7
Total liabilities and shareholders' equity	$ 33,339.2	$ 36,204.4

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investments:
Allowance for credit losses	$ 56	$ 7.6
Fixed maturities, available for sale, amortized cost	23,384.2	21,867.6
Mortgage loans, allowance for credit losses	8	5.6
Investments held by variable interest entities, allowance for credit losses	5.5	3.7
Investments held by variable interest entities, amortized cost	1,134.2	1,206.8
Reinsurance receivables, allowance for credit losses	$ 2	$ 3
Shareholders' equity:
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	8,000,000,000	8,000,000,000
Common stock, shares issued (in shares)	114,343,070	120,377,152
Common stock, shares outstanding (in shares)	114,343,070	120,377,152

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Insurance policy income	$ 2,499.8	$ 2,523.4	$ 2,511.3
Net investment income:
General account assets	1,179	1,140.2	1,079
Policyholder and other special-purpose portfolios	(163.1)	280.5	143.5
Investment gains (losses):
Realized investment gains (losses)	(17.9)	21.3	(18.4)
Other investment gains (losses)	(117.5)	(2.2)	(17.8)
Total investment gains (losses)	(135.4)	19.1	(36.2)
Fee revenue and other income	196.5	159	123.5
Total revenues	3,576.8	4,122.2	3,821.1
Benefits and expenses:
Insurance policy benefits	1,658.3	2,190.7	2,157.9
Interest expense	137	95.4	108.8
Amortization	309.6	281.1	268.1
Other operating costs and expenses	954.6	987.3	942
Total benefits and expenses	3,059.5	3,554.5	3,476.8
Income before income taxes	517.3	567.7	344.3
Income tax expense (benefit):
Tax expense on period income	120.5	126.7	76.5
Valuation allowance for deferred tax assets and other tax items	0	0	(34)
Net income	$ 396.8	$ 441	$ 301.8
Basic:
Weighted average shares outstanding (in shares)	115,733	128,400	142,096
Net income (in USD per share)	$ 3.43	$ 3.43	$ 2.12
Diluted:
Weighted average shares outstanding (in shares)	117,717	131,126	143,164
Net income (in USD per share)	$ 3.37	$ 3.36	$ 2.11

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 396.8	$ 441	$ 301.8
Other comprehensive income (loss), before tax:
Unrealized gains (losses) for the period	(6,028.4)	(486.7)	1,332.8
Amortization of present value of future profits and deferred acquisition costs	632.3	35.5	(116)
Amount related to premium deficiencies assuming the net unrealized gains (losses) had been realized	165	174.5	(204)
Reclassification adjustments:
For net realized investment (gains) losses included in net income	60.5	(29.4)	27.1
For amortization of the present value of future profits and deferred acquisition costs related to net realized investment (gains) losses included in net income	(3.4)	1.7	(2.4)
Other comprehensive income (loss) before tax	(5,174)	(304.4)	1,037.5
Income tax (expense) benefit related to items of accumulated other comprehensive income (loss)	1,133.8	65.4	(223.9)
Other comprehensive income (loss), net of tax	(4,040.2)	(239)	813.6
Comprehensive income (loss)	$ (3,643.4)	$ 202	$ 1,115.4

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Common stock	Common stock Cumulative Effect, Period of Adoption, Adjusted Balance	Additional paid-in capital	Additional paid-in capital Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated other comprehensive income	Accumulated other comprehensive income Cumulative Effect, Period of Adoption, Adjusted Balance	Retained earnings	Retained earnings Cumulative Effect, Period of Adoption, Adjustment	Retained earnings Cumulative Effect, Period of Adoption, Adjusted Balance
Balance, beginning of period (in shares) at Dec. 31, 2019				148,084,000	148,084,000
Balance, beginning of year at Dec. 31, 2019	$ 4,677	$ (17.8)	$ 4,659.2	$ 1.5	$ 1.5	$ 2,767.3	$ 2,767.3	$ 1,372.5	$ 1,372.5	$ 535.7	$ (17.8)	$ 517.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	301.8									301.8
Change in unrealized appreciation (depreciation) of investments (net of applicable income tax expense (benefit))	$ 813.6							813.6
Common stock repurchased (in shares)	(14,500,000)			(14,471,000)
Common stock repurchased	$ (263)			$ (0.2)		(262.8)
Dividends on common stock	(67.4)									(67.4)
Employee benefit plans, net of shares used to pay tax withholdings (in shares)				1,666,000
Employee benefits plans, net of shares used to pay tax withholdings	40					40
Balance, end of period (in shares) at Dec. 31, 2020				135,279,000
Balance, end of year at Dec. 31, 2020	5,484.2			$ 1.3		2,544.5		2,186.1		752.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	441									441
Change in unrealized appreciation (depreciation) of investments (net of applicable income tax expense (benefit))	$ (239)							(239)
Common stock repurchased (in shares)	(16,600,000)			(16,561,000)
Common stock repurchased	$ (402.4)			$ (0.1)		(402.3)
Dividends on common stock	(66.1)									(66.1)
Employee benefit plans, net of shares used to pay tax withholdings (in shares)				1,659,000
Employee benefits plans, net of shares used to pay tax withholdings	$ 42					42
Balance, end of period (in shares) at Dec. 31, 2021	120,377,152			120,377,000
Balance, end of year at Dec. 31, 2021	$ 5,259.7			$ 1.2		2,184.2		1,947.1		1,127.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	396.8									396.8
Change in unrealized appreciation (depreciation) of investments (net of applicable income tax expense (benefit))	$ (4,040.2)							(4,040.2)
Common stock repurchased (in shares)	(7,600,000)			(7,612,000)
Common stock repurchased	$ (180)			$ (0.1)		(179.9)
Dividends on common stock	(65)									(65)
Employee benefit plans, net of shares used to pay tax withholdings (in shares)				1,578,000
Employee benefits plans, net of shares used to pay tax withholdings	$ 29.5					29.5
Balance, end of period (in shares) at Dec. 31, 2022	114,343,070			114,343,000
Balance, end of year at Dec. 31, 2022	$ 1,400.8			$ 1.1		$ 2,033.8		$ (2,093.1)		$ 1,459

CONSOLIDATED STATEMENT OF SHA_2

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parentheticals) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Change in unrealized appreciation (depreciation) of investments (net of applicable income tax expense (benefit))	$ (1,133.8)	$ (65.4)	$ 223.9

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Insurance policy income	$ 2,300.2	$ 2,341.8	$ 2,331
Net investment income	1,154.5	1,073.1	1,097.4
Fee revenue and other income	149.2	142.5	123.5
Insurance policy benefits	(1,635.8)	(1,661.1)	(1,582.9)
Interest expense	(120.9)	(92.8)	(111.2)
Deferrable policy acquisition costs	(332.2)	(298.8)	(275.8)
Other operating costs	(985.7)	(926.2)	(818.1)
Income taxes	(33.9)	19.8	(28.4)
Net cash from operating activities	495.4	598.3	735.5
Cash flows from investing activities:
Sales of investments	3,253.6	1,823.6	1,480
Maturities and redemptions of investments	1,550.7	2,880.3	2,218.3
Purchases of investments	(6,482)	(6,135.2)	(4,280.7)
Net sales (purchases) of trading securities	(42.4)	(19.5)	13.8
Other	(61.2)	(75.3)	(39.8)
Net cash used by investing activities	(1,781.3)	(1,526.1)	(608.4)
Cash flows from financing activities:
Issuance of notes payable, net	0	0	145.8
Issuance of common stock	13.5	21.5	19
Payments to repurchase common stock	(190.1)	(407.8)	(268.3)
Common stock dividends paid	(64.8)	(65.7)	(67)
Amounts received for deposit products	3,022.6	2,405.1	1,620.1
Withdrawals from deposit products	(1,461.4)	(1,352.5)	(1,235.6)
Issuance of investment borrowings:
Federal Home Loan Bank	285	795.8	498
Payments on investment borrowings:
Federal Home Loan Bank	(361.3)	(722.4)	(499.8)
Related to variable interest entities and other	(44.4)	(5.4)	(2.1)
Debt issuance costs	0	(1)	0
Net cash provided by financing activities	1,199.1	667.6	210.1
Net increase (decrease) in cash and cash equivalents	(86.8)	(260.2)	337.2
Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of year	731.7	991.9	654.7
Cash and cash equivalents - unrestricted and held by variable interest entities, end of year	$ 644.9	$ 731.7	$ 991.9

BUSINESS AND BASIS OF PRESENTAT

BUSINESS AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS AND BASIS OF PRESENTATION	BUSINESS AND BASIS OF PRESENTATION CNO Financial Group, Inc., a Delaware corporation ("CNO"), is a holding company for a group of insurance companies operating throughout the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance and financial services products. The terms "CNO Financial Group, Inc.", "CNO", the "Company", "we", "us", and "our" as used in these financial statements refer to CNO and its subsidiaries. Such terms, when used to describe insurance business and products, refer to the insurance business and products of CNO's insurance subsidiaries. We focus on serving middle-income pre-retiree and retired Americans, which we believe are attractive, underserved, high growth markets. We sell our products through exclusive agents, independent producers (some of whom sell one or more of our product lines exclusively) and direct marketing. We prepare our financial statements in accordance with accounting principles generally accepted in the United States of America ("GAAP"). We have reclassified certain amounts from the prior periods to conform to the 2022 presentation. These reclassifications have no effect on net income or shareholders' equity. When we prepare financial statements in conformity with GAAP, we are required to make estimates and assumptions that significantly affect reported amounts of various assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting periods. For example, we use significant estimates and assumptions to calculate values for deferred acquisition costs, the present value of future profits, fair value measurements of certain investments (including derivatives), allowance for credit losses and other-than-temporary impairments of investments, assets and liabilities related to income taxes, liabilities for insurance products, liabilities related to litigation and guaranty fund assessment accruals. If our future experience differs from these estimates and assumptions, our financial statements could be materially affected. The accompanying financial statements include the accounts of the Company and its subsidiaries. Our consolidated financial statements exclude transactions between us and our consolidated affiliates, or among our consolidated affiliates. In February 2021, we acquired DirectPath, LLC ("DirectPath", now known as Optavise, LLC ("Optavise") subsequent to its name change in April 2022), a leading national provider of year-round, technology-driven employee benefits management services to employers and employees. Optavise provides personalized benefits education, advocacy and transparency, and communications compliance services that help employers reduce healthcare costs and assist employees with making informed benefits decisions. The base purchase price was $50 million with an additional earn‐out if certain financial targets were achieved. The transaction was funded from holding company cash. The amount paid, net of cash held by DirectPath on the date of acquisition, was $46.2 million and is classified as other investing activities on the consolidated statement of cash flows. The net assets acquired totaled $53 million and were primarily comprised of goodwill and other intangible assets of approximately $48 million. The tangible assets acquired and liabilities assumed were recorded at their carrying values which approximated fair value. The intangible assets were recorded at fair value based on various assumptions determined by the Company to be reasonable at the date of acquisition including long-term growth rate, normalized net working capital, internal rate of return, economic life and discount rate. In addition, we recognized advisory and legal expenses of $3 million in connection with the acquisition (of which, $2.5 million was recognized in the first quarter of 2021). The business of Optavise is included in our fee income segment.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Investments Fixed maturity securities include available for sale bonds and redeemable preferred stocks. We carry these investments at estimated fair value. We record any unrealized gain or loss, net of tax and related adjustments, as a component of shareholders’ equity. Equity securities include investments in common stock, exchange-traded funds and non-redeemable preferred stock. We carry these investments at estimated fair value. Changes in the fair value of equity securities are recognized in net income. Mortgage loans held in our investment portfolio are carried at amortized unpaid balance, net of allowance for estimated credit losses. Interest income is accrued on the principal amount of the loan based on the loan's contractual interest rate. Payment terms specified for mortgage loans may include a prepayment penalty for unscheduled payoff of the investment. Prepayment penalties are recognized as investment income when received. The allowance for estimated credit losses is measured using a loss-rate method on an individual asset basis. Inputs used include asset-specific characteristics, current economic conditions, historical loss information and reasonable and supportable forecasts about future economic conditions. Policy loans are stated at current unpaid principal balances. Policy loans are collateralized by the cash surrender value of the life insurance policy. Interest income is recorded as earned using the contractual interest rate. Trading securities include: (i) investments purchased with the intent of selling in the near term to generate income; and (ii) certain fixed maturity securities containing embedded derivatives for which we have elected the fair value option. The change in fair value of the income generating investments is recognized in income from policyholder and other special-purpose portfolios (a component of net investment income). The change in fair value of securities with embedded derivatives is recognized in other investment gains (losses). Other invested assets include: (i) call options purchased in an effort to offset or hedge the effects of certain policyholder benefits related to our fixed indexed annuity and life insurance products; (ii) Company-owned life insurance ("COLI"); (iii) investments in the common stock of the Federal Home Loan Bank ("FHLB"); and (iv) certain non-traditional investments. We carry the call options at estimated fair value as further described in the section of this note entitled "Accounting for Derivatives". We carry COLI at its cash surrender value which approximates its net realizable value. Non-traditional investments include investments in certain limited partnerships and hedge funds which are accounted for using the equity method. In accounting for limited partnerships and hedge funds, we consistently use the most recently available financial information provided by the general partner or manager of each of these investments, which is generally three months prior to the end of our reporting period. Interest income on fixed maturity securities is recognized when earned using a constant effective yield method giving effect to amortization of premiums and accretion of discounts. Prepayment fees are recognized when earned. Dividends on equity securities are recognized on the ex-dividend date. When we sell a security (other than trading securities), we report the difference between the sale proceeds and amortized cost (determined based on specific identification) as a realized investment gain or loss. When an available for sale fixed maturity security's fair value is below the amortized cost, the security is considered impaired. If a portion of the decline is due to credit-related factors, we separate the credit loss component of the impairment from the amount related to all other factors. The credit loss component is recorded as an allowance and reported in other investment gains (losses) (limited to the difference between estimated fair value and amortized cost). The impairment related to all other factors (non-credit factors) is reported in accumulated other comprehensive income along with unrealized gains related to fixed maturity investments, available for sale, net of tax and related adjustments. The allowance is adjusted for any additional credit losses and subsequent recoveries. When recognizing an allowance associated with a credit loss, the cost basis is not adjusted. When we determine a security is uncollectable, the remaining amortized cost will be written off. In determining the credit loss component, we discount the estimated cash flows on a security by security basis. We consider the impact of macroeconomic conditions on inputs used to measure the amount of credit loss. For most structured securities, cash flow estimates are based on bond-specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity, prepayment speeds and structural support, including overcollateralization, excess spread, subordination and guarantees. For corporate bonds, cash flow estimates are derived by considering asset type, rating, time to maturity, and applying an expected loss rate. If we intend to sell an impaired fixed maturity security, available for sale, or identify an impaired fixed maturity security, available for sale, for which it is more likely than not we will be required to sell before anticipated recovery, the difference between the fair value and the amortized cost is included in other investment gains (losses) and the fair value becomes the new amortized cost. The new cost basis is not adjusted for any subsequent recoveries in fair value. The Company reports accrued investment income separately from fixed maturities, available for sale, and has elected not to measure an allowance for credit losses for accrued investment income. Accrued investment income is written off through net investment income at the time the issuer of the bond defaults or is expected to default on payments. Cash and Cash Equivalents Cash and cash equivalents include invested cash and other investments purchased with original maturities of less than three months. We carry them at amortized cost, which approximates estimated fair value. It is the Company's policy to offset negative cash balances with positive balances in other accounts with the same counterparty when agreements are in place permitting legal right of offset. Deferred Acquisition Costs Deferred acquisition costs represent incremental direct costs related to the successful acquisition of new or renewal insurance contracts. For interest-sensitive life or annuity products, we amortize these costs in relation to the estimated gross profits using the interest rate credited to the underlying policies. For other products, we amortize these costs in relation to future anticipated premium revenue using the projected investment earnings rate. When we realize a gain or loss on investments backing our interest-sensitive life or annuity products, we adjust the amortization to reflect the change in estimated gross profits from the products due to the gain or loss realized and the effect on future investment yields. We also adjust deferred acquisition costs (including costs related to policies other than interest-sensitive life or annuity products) for the change in amortization that would have been recorded if our fixed maturity securities, available for sale, had been sold at their stated aggregate fair value and the proceeds reinvested at current yields. We limit the total adjustment related to the impact of unrealized losses to the total of costs capitalized plus interest related to insurance policies issued in a particular year. We include the impact of this adjustment in accumulated other comprehensive income (loss) within shareholders' equity. We regularly evaluate the recoverability of the unamortized balance of the deferred acquisition costs. We consider estimated future gross profits or future premiums, expected mortality or morbidity, interest earned and credited rates, persistency and expenses in determining whether the balance is recoverable. If we determine a portion of the unamortized balance is not recoverable, it is charged to amortization expense. In certain cases, the unamortized balance of the deferred acquisition costs may not be deficient in the aggregate, but our estimates of future earnings indicate that profits would be recognized in early periods and losses in later periods. In this case, we increase the amortization of the deferred acquisition costs over the period of profits, by an amount necessary to offset losses that are expected to be recognized in the later years. Present Value of Future Profits The present value of future profits is the value assigned to the right to receive future cash flows from policyholder insurance contracts existing at September 10, 2003 (the "Effective Date", the effective date of the bankruptcy reorganization of Conseco, Inc., an Indiana corporation (our "Predecessor")). The discount rate we used to determine the present value of future profits was 12 percent. The balance of this account is amortized and evaluated for recovery in the same manner as described above for deferred acquisition costs. We also adjust the present value of future profits for the change in amortization that would have been recorded if the fixed maturity securities, available for sale, had been sold at their stated aggregate fair value and the proceeds reinvested at current yields, similar to the manner described above for deferred acquisition costs. We limit the total adjustment related to the impact of unrealized losses to the total present value of future profits plus interest. Recognition of Insurance Policy Income and Related Benefits and Expenses on Insurance Contracts For interest-sensitive life and annuity contracts that do not involve significant mortality or morbidity risk and funding agreements, the amounts collected from policyholders are considered deposits and are not included in revenue. Revenues for these contracts consist of charges for policy administration, cost of insurance charges and surrender charges assessed against policyholders' account balances. Such revenues are recognized when the service or coverage is provided, or when the policy is surrendered. We establish liabilities for annuity and interest-sensitive life products and funding agreements equal to the accumulated policy account values, which include an accumulation of deposit payments plus credited interest, less withdrawals and the amounts assessed against the policyholder through the end of the period. In addition, policyholder account values for certain interest-sensitive life products are impacted by our assumptions related to changes of certain non-guaranteed elements that we are allowed to make under the terms of the policy, such as cost of insurance charges, expense loads, credited interest rates and policyholder bonuses. Sales inducements provided to the policyholders of these products are recognized as liabilities over the period that the contract must remain in force to qualify for the inducement. The options attributed to the policyholder related to our fixed indexed annuity products are accounted for as embedded derivatives as described in the section of this note entitled "Accounting for Derivatives". Premiums from individual life products (other than interest-sensitive life contracts) and health products are recognized when due. When premiums are due over a significantly shorter period than the period over which benefits are provided, any gross premium in excess of the net premium (i.e., the portion of the gross premium required to provide for all expected future benefits and expenses) is deferred and recognized into revenue in a constant relationship to insurance in force. Benefits are recorded as an expense when they are incurred. We establish liabilities for traditional life, accident and health insurance, and life contingent payment annuity products using mortality tables in general use in the United States, which are modified to reflect the Company's actual experience when appropriate. We establish liabilities for accident and health insurance products using morbidity tables based on the Company's actual or expected experience. These reserves are computed at amounts that, with additions from estimated future premiums received and with interest on such reserves at estimated future rates, are expected to be sufficient to meet our obligations under the terms of the policy. Liabilities for future policy benefits are computed on a net-level premium method based upon assumptions as to future claim costs, investment yields, mortality, morbidity, withdrawals, policy dividends and maintenance expenses determined when the policies were issued (or with respect to policies inforce at August 31, 2003, the Company's best estimate of such assumptions on the Effective Date). We make an additional provision to allow for potential adverse deviation for some of our assumptions. Once established, assumptions on these products are generally not changed unless a premium deficiency exists. In that case, a premium deficiency reserve is recognized and the future pattern of reserve changes is modified to reflect the relationship of premiums to benefits based on the current best estimate of future claim costs, investment yields, mortality, morbidity, withdrawals, policy dividends and maintenance expenses, determined without an additional provision for potential adverse deviation. We establish claim reserves based on our estimate of the loss to be incurred on reported claims plus estimates of incurred but unreported claims based on our past experience. Accounting for Long-term Care Premium Rate Increases Many of our long-term care policies have been subject to premium rate increases. In some cases, these premium rate increases were materially consistent with the assumptions we used to value the particular block of business at the Effective Date. With respect to certain premium rate increases, some of our policyholders were provided an option to cease paying their premiums and receive a non-forfeiture option in the form of a paid-up policy with limited benefits. In addition, our policyholders could choose to reduce their coverage amounts and premiums in the same proportion, when permitted by our contracts or as required by regulators. The following describes how we account for these policyholder options: • Premium rate increases - If premium rate increases reflect a change in our previous rate increase assumptions, the new assumptions are not reflected prospectively in our reserves. Instead, the additional premium revenue resulting from the rate increase is recognized as earned and original assumptions continue to be used to determine changes to liabilities for insurance products unless a premium deficiency exists. • Benefit reductions - A policyholder may choose reduced coverage with a proportionate reduction in premium, when permitted by our contracts. This option does not require additional underwriting. Benefit reductions are treated as a partial lapse of coverage, and the balance of our reserves and deferred insurance acquisition costs is reduced in proportion to the reduced coverage. • Non-forfeiture benefits offered in conjunction with a rate increase - In some cases, non-forfeiture benefits are offered to policyholders who wish to lapse their policies at the time of a significant rate increase. In these cases, exercise of this option is treated as an extinguishment of the original contract and issuance of a new contract. The balance of our reserves and deferred insurance acquisition costs are released, and a reserve for the new contract is established. Some of our policyholders may receive a non-forfeiture benefit if they cease paying their premiums pursuant to their original contract (or pursuant to changes made to their original contract as a result of a litigation settlement made prior to the Effective Date or an order issued by the Florida Office of Insurance Regulation). In these cases, exercise of this option is treated as the exercise of a policy benefit, and the reserve for premium paying benefits is reduced, and the reserve for the non-forfeiture benefit is adjusted to reflect the election of this benefit. Accounting for Certain Marketing Agreements Bankers Life and Casualty Company ("Bankers Life") has entered into various distribution and marketing agreements with other insurance companies to use Bankers Life's exclusive agents to distribute prescription drug and Medicare Advantage plans. These agreements allow Bankers Life to offer these products to current and potential future policyholders without investment in management and infrastructure. We receive fee income related to the plans sold through our distribution channels and incur distribution expenses paid to our agents who sell such products. The recognition of fee revenue and the distribution expenses paid to our agents results from approval of an application by the third-party insurance companies, which we define as our customers. We recognize the net lifetime revenue expected to be earned on these sales, but only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The assumptions and constraints used to recognize such net revenue are based on available historical data. To the extent we make changes to the assumptions we use to calculate revenue on these products, we will recognize the impact of the changes in the period in which the change is made. Reinsurance In the normal course of business, we seek to limit our loss exposure on any single insured or to certain groups of policies by ceding reinsurance to other insurance enterprises. We currently retain no more than $0.8 million of mortality risk on any one policy. We diversify the risk of reinsurance loss by using a number of reinsurers that have strong claims-paying ratings. In each case, the ceding CNO subsidiary is directly liable for claims reinsured in the event the assuming company is unable to pay. The cost of reinsurance ceded totaled $206.2 million, $222.4 million and $239.5 million in 2022, 2021 and 2020, respectively. We deduct this cost from insurance policy income. Reinsurance recoveries netted against insurance policy benefits totaled $361.4 million, $310.9 million and $403.8 million in 2022, 2021 and 2020, respectively. From time to time, we assume insurance from other companies. Any costs associated with the assumption of insurance are amortized consistent with the method used to amortize deferred acquisition costs. Reinsurance premiums assumed totaled $18.7 million, $20.3 million and $23.0 million in 2022, 2021 and 2020, respectively. Insurance policy benefits related to reinsurance assumed totaled $25.0 million, $24.9 million and $31.4 million in 2022, 2021 and 2020, respectively. Income Taxes Our income tax expense includes deferred income taxes arising from temporary differences between the financial reporting and tax bases of assets and liabilities and net operating loss carryforwards ("NOLs"). Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which temporary differences are expected to be recovered or paid. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in earnings in the period when the changes are enacted. A reduction of the net carrying amount of deferred tax assets by establishing a valuation allowance is required if, based on the available evidence, it is more likely than not that such assets will not be realized. In assessing the need for a valuation allowance, all available evidence, both positive and negative, shall be considered to determine whether, based on the weight of that evidence, a valuation allowance for deferred tax assets is needed. This assessment requires significant judgment and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of carryforward periods, our experience with operating loss and tax credit carryforwards expiring unused, and tax planning strategies. We evaluate the need to establish a valuation allowance for our deferred income tax assets on an ongoing basis. The realization of our deferred tax assets depends upon generating sufficient future taxable income of the appropriate type during the periods in which our temporary differences become deductible and before our NOLs expire. Investments in Variable Interest Entities We have concluded that we are the primary beneficiary with respect to certain variable interest entities ("VIEs"), which are consolidated in our financial statements. All of the VIEs are collateralized loan trusts that were established to issue securities to finance the purchase of corporate loans and other permitted investments. The assets held by the trusts are legally isolated and not available to the Company. The liabilities of the VIEs are expected to be satisfied from the cash flows generated by the underlying loans held by the trusts, not from the assets of the Company. The Company has no financial obligation to the VIEs beyond its investment in each VIE. The investment portfolios held by the VIEs are primarily comprised of commercial bank loans to corporate obligors which are almost entirely rated below-investment grade. Refer to the note to the consolidated financial statements entitled "Investments in Variable Interest Entities" for additional information about VIEs. In addition, the Company, in the normal course of business, makes passive investments in structured securities issued by VIEs for which the Company is not the investment manager. These structured securities include asset-backed securities, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, collateralized loan obligations and commercial mortgage-backed securities. Our maximum exposure to loss on these securities is limited to our cost basis in the investment. We have determined that we are not the primary beneficiary of these structured securities due to the relative size of our investment in comparison to the total principal amount of the individual structured securities and the level of credit subordination which reduces our obligation to absorb gains or losses. At December 31, 2022, we held investments in various limited partnerships and hedge funds, in which we are not the primary beneficiary, totaling $588.9 million (classified as other invested assets). At December 31, 2022, we had unfunded commitments to these partnerships totaling $441.2 million. Our maximum exposure to loss on these investments is limited to the amount of our investment. Investment Borrowings Three of the Company's insurance subsidiaries (Bankers Life, Washington National Insurance Company ("Washington National") and Colonial Penn Life Insurance Company) are members of the FHLB. As members of the FHLB, our insurance subsidiaries have the ability to borrow on a collateralized basis from the FHLB. We are required to hold certain minimum amounts of FHLB common stock as a condition of membership in the FHLB, and additional amounts based on the amount of the borrowings. At December 31, 2022, the carrying value of the FHLB common stock was $75.2 million. As of December 31, 2022, collateralized borrowings from the FHLB totaled $1.6 billion and the proceeds were used to purchase fixed maturity securities. The borrowings are classified as investment borrowings in the accompanying consolidated balance sheet. The borrowings are collateralized by investments with an estimated fair value of $2.2 billion at December 31, 2022, which are maintained in a custodial account for the benefit of the FHLB. Substantially all of such investments are classified as fixed maturities, available for sale, in our consolidated balance sheet. The following summarizes the terms of the borrowings from the FHLB by our insurance subsidiaries (dollars in millions): Amount Maturity Interest rate at borrowed date December 31, 2022 $ 20.8 March 2023 Fixed rate – 2.160% 50.0 July 2023 Variable rate – 4.490% 100.0 July 2023 Variable rate – 4.490% 50.0 July 2023 Variable rate – 4.490% 100.0 April 2024 Variable rate – 4.262% 50.0 May 2024 Variable rate – 4.919% 22.0 May 2024 Variable rate – 4.764% 100.0 July 2024 Variable rate – 4.058% 15.5 July 2024 Fixed rate – 1.990% 34.5 July 2024 Variable rate – 4.782% 15.0 July 2024 Variable rate – 4.865% 27.0 August 2024 Fixed rate – .640% 25.0 September 2024 Variable rate – 5.031% 21.7 May 2025 Variable rate – 4.313% 18.5 June 2025 Fixed rate – 2.940% 125.0 September 2025 Variable rate – 4.650% 100.0 October 2025 Variable rate – 4.583% 100.0 October 2025 Variable rate – 4.512% 57.7 October 2025 Variable rate – 4.600% 50.0 November 2025 Variable rate – 4.532% 50.0 January 2026 Variable rate – 4.519% 50.0 January 2026 Variable rate – 4.589% 100.0 January 2026 Variable rate – 4.582% 21.8 May 2026 Variable rate – 4.472% 50.0 May 2026 Variable rate – 4.570% 75.0 December 2026 Variable rate – 4.526% 50.0 April 2027 Variable rate – 4.322% 50.0 May 2027 Variable rate – 4.332% 100.0 June 2027 Variable rate – 4.670% 10.0 June 2027 Variable rate – 4.893% $ 1,639.5 The variable rate borrowings are pre-payable on each interest reset date without penalty. The fixed rate borrowings of $81.8 million are pre-payable subject to payment of a yield maintenance fee based on prevailing market interest rates. At December 31, 2022, the aggregate yield maintenance fee to prepay all fixed rate borrowings was $1.0 million. Interest expense of $33.5 million, $9.8 million and $21.2 million in 2022, 2021 and 2020, respectively, was recognized related to total borrowings from the FHLB. Accounting for Derivatives Our fixed indexed annuity products provide a guaranteed minimum rate of return and a higher potential return that is based on a percentage (the "participation rate") of the amount of increase in the value of a particular index, such as the Standard & Poor's 500 Index, over a specified period. We are generally able to change the participation rate at the beginning of each index period (typically on each policy anniversary date), subject to contractual minimums. The Company accounts for the options attributed to the policyholder for the estimated life of the contract as embedded derivatives. We are required to record the embedded derivatives related to our fixed indexed annuity products at estimated fair value. The value of the embedded derivative is based on the estimated cost to fulfill our commitment to fixed indexed annuity policyholders to purchase a series of annual forward options over the duration of the policy that back the potential return based on a percentage of the amount of increase in the value of the appropriate index. In valuing these options, we are required to make assumptions regarding: (i) future index values to determine both the future notional amounts at each anniversary date and the future prices of the forward starting options; (ii) future annual participation rates; and (iii) non-economic factors related to policy persistency. These assumptions are used to estimate the future cost to purchase the options. The value of the embedded derivatives is determined based on the present value of estimated future option costs discounted using a risk-free rate adjusted for our non-performance risk and risk margins for non-capital market inputs. The non-performance risk adjustment is determined by taking into consideration publicly available information related to spreads in the secondary market for debt with credit ratings similar to ours. These observable spreads are then adjusted to reflect the priority of these liabilities and the claim paying ability of the issuing insurance subsidiaries. Risk margins are established to capture non-capital market risks which represent the additional compensation a market participant would require to assume the risks related to the uncertainties regarding the embedded derivatives, including future policyholder behavior related to persistency. The determination of the risk margin is highly judgmental given the lack of a market to assume the risks solely related to the embedded derivatives of our fixed indexed annuity products. The determination of the appropriate risk-free rate and non-performance risk is sensitive to the economic and interest rate environment. Accordingly, the value of the derivative is volatile due to external market sensitivities, which may materially affect net income. Additionally, changes in the judgmental assumptions regarding the appropriate risk margin can significantly impact the value of the derivative. We typically buy call options (including call spreads) referenced to the applicable indices in an effort to offset or hedge potential increases to policyholder benefits resulting from increases in the particular index to which the policy's return is linked. We purchase certain fixed maturity securities that contain embedded derivatives that are required to be held at fair value on the consolidated balance sheet. We have elected the fair value option to carry the entire security at fair value with changes in fair value reported in net income. Sales Inducements Certain of our annuity products offer sales inducements to contract holders in the form of enhanced crediting rates or bonus payments in the initial period of the contract. Certain of our life insurance products offer persistency bonuses credited to the contract holder's balance after the policy has been outstanding for a specified period of time. These enhanced rates and persistency bonuses are considered sales inducements in accordance with GAAP. Such amounts are deferred and amortized in the same manner as deferred acquisition costs. Sales inducements deferred totaled $22.5 million, $17.3 million and $14.1 million during 2022, 2021 and 2020, respectively. Amounts amortized totaled $17.8 million, $15.5 million and $15.4 million during 2022, 2021 and 2020, respectively. The unamortized balance of deferred sales inducements was $65.9 million and $61.2 million at December 31, 2022 and 2021, respectively. Recently Issued Accounting Standards Pending Accounting Standards In August 2018, the Financial Accounting Standards Board ("FASB") issued authoritative guidance revising the accounting for long-duration insurance contracts. The new guidance: (i) improves the timeliness of recognizing changes in the liability for future benefits and modifies the rate used to discount future cash flows; (ii) simplifies and improves the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts; (iii) simplifies the amortization of deferred acquisition costs; and (iv) requires enhanced disclosures, including disaggregated rollforwards of the liability for future policy benefits, policyholder account liabilities, market risk benefits and deferred acquisition costs. Additionally, qualitative and quantitative information about expected cash flows, estimates and assumptions will be required. The new measurement guidance for traditional and limited-payment contract liabilities and the new guidance for the amortization of deferred acquisition costs are required to be adopted on a modified retrospective transition approach, with an option to elect a full retrospective transition if certain criteria are met. The transition approach for deferred acquisition costs is required to be consistent with the transition applied to the liability for future policyholder benefits. Under the modified retrospective approach, for contracts in-force at the transition date, an entity would continue to use the existing locked-in investment yield interest rate assumption to calculate the net premium ratio, rather than the upper-medium grade fixed-income corporate instrument yield. However, for balance sheet remeasurement purposes, the current upper-medium grade fixed-income corporate instrument yield would be used at transition through accumulated other comprehensive income (loss) and subsequently through other comprehensive income. For market risk benefits, retrospective application is required, with the ability to use hindsight to measure fair value components to the extent assumptions in a prior period are unobservable or otherwise unavailable. We have selected the modified retrospective transition method, except for market risk benefits where we are req

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS At December 31, 2022, the amortized cost, gross unrealized gains, gross unrealized losses, allowance for credit losses and estimated fair value of fixed maturities, available for sale, were as follows (dollars in millions): Amortized Gross Gross Allowance for credit losses Estimated Investment grade (a): Corporate securities $ 13,043.6 $ 28.9 $ (1,858.4) $ (37.0) $ 11,177.1 United States Treasury securities and obligations of United States government corporations and agencies 171.7 — (13.0) — 158.7 States and political subdivisions 2,836.3 19.3 (476.0) (.8) 2,378.8 Foreign governments 86.3 .1 (11.3) (.4) 74.7 Asset-backed securities 1,312.5 1.0 (130.1) (.3) 1,183.1 Agency residential mortgage-backed securities 174.3 1.4 (.7) — 175.0 Non-agency residential mortgage-backed securities 1,122.6 6.0 (174.3) — 954.3 Collateralized loan obligations 825.2 .3 (39.6) — 785.9 Commercial mortgage-backed securities 2,401.3 .1 (254.1) — 2,147.3 Total investment grade fixed maturities, available for sale 21,973.8 57.1 (2,957.5) (38.5) 19,034.9 Below-investment grade (a) (b): Corporate securities 605.5 1.0 (53.5) (17.4) 535.6 States and political subdivisions 10.6 — (.8) (.1) 9.7 Asset-backed securities 123.2 — (19.3) — 103.9 Non-agency residential mortgage-backed securities 577.8 34.0 (17.6) — 594.2 Commercial mortgage-backed securities 93.3 — (18.2) — 75.1 Total below-investment grade fixed maturities, available for sale 1,410.4 35.0 (109.4) (17.5) 1,318.5 Total fixed maturities, available for sale $ 23,384.2 $ 92.1 $ (3,066.9) $ (56.0) $ 20,353.4 _______________ (a) Investment ratings are assigned the second lowest rating by Nationally Recognized Statistical Rating Organizations ("NRSROs") (Moody's Investor Services, Inc. ("Moody's"), S&P Global Ratings ("S&P") or Fitch Ratings ("Fitch")), or if not rated by such firms, the rating assigned by the National Association of Insurance Commissioners (the "NAIC"). NAIC designations of "1" or "2" include fixed maturities generally rated investment grade (rated "Baa3" or higher by Moody's or rated "BBB-" or higher by S&P and Fitch). NAIC designations of "3" through "6" are referred to as below-investment grade (which generally are rated "Ba1" or lower by Moody's or rated "BB+" or lower by S&P and Fitch). References to investment grade or below-investment grade throughout our consolidated financial statements are determined as described above. (b) Certain structured securities rated below-investment grade by NRSROs may be assigned a NAIC 1 or NAIC 2 designation based on the cost basis of the security relative to estimated recoverable amounts as determined by the NAIC. Refer to the table below for a summary of our fixed maturity securities, available for sale, by NAIC designations. The NAIC evaluates the fixed maturity investments of insurers for regulatory and capital assessment purposes and assigns securities to one of six credit quality categories called NAIC designations, which are used by insurers when preparing their annual statements based on statutory accounting principles. The NAIC designations are generally similar to the credit quality designations of the NRSROs for marketable fixed maturity securities, except for certain structured securities. However, certain structured securities rated below investment grade by the NRSROs can be assigned NAIC 1 or NAIC 2 designations depending on the cost basis of the holding relative to estimated recoverable amounts as determined by the NAIC. The following summarizes the NAIC designations and NRSRO equivalent ratings: NAIC Designation NRSRO Equivalent Rating 1 AAA/AA/A 2 BBB 3 BB 4 B 5 CCC and lower 6 In or near default A summary of our fixed maturity securities, available for sale, by NAIC designations (or for fixed maturity securities held by non-regulated entities, based on NRSRO ratings) as of December 31, 2022 is as follows (dollars in millions): NAIC designation Amortized cost Estimated fair value Percentage of total estimated fair value 1 $ 14,205.4 $ 12,385.7 60.9 % 2 8,407.1 7,294.9 35.8 Total NAIC 1 and 2 (investment grade) 22,612.5 19,680.6 96.7 3 606.9 535.8 2.6 4 145.5 125.9 .6 5 18.3 11.1 .1 6 1.0 — — Total NAIC 3,4,5 and 6 (below-investment grade) 771.7 672.8 3.3 $ 23,384.2 $ 20,353.4 100.0 % At December 31, 2021, the amortized cost, gross unrealized gains, gross unrealized losses, allowance for credit losses and estimated fair value of fixed maturities, available for sale, were as follows (dollars in millions): Amortized Gross Gross Allowance for credit losses Estimated Investment grade: Corporate securities $ 12,384.0 $ 2,229.5 $ (20.2) $ (4.3) $ 14,589.0 United States Treasury securities and obligations of United States government corporations and agencies 166.2 54.3 (.9) — 219.6 States and political subdivisions 2,637.4 356.7 (1.5) — 2,992.6 Foreign governments 85.4 13.6 (.3) (.2) 98.5 Asset-backed securities 983.1 35.2 (1.9) — 1,016.4 Agency residential mortgage-backed securities 36.7 3.7 — — 40.4 Non-agency residential mortgage-backed securities 1,141.0 28.4 (2.9) — 1,166.5 Collateralized loan obligations 574.2 2.3 (1.2) — 575.3 Commercial mortgage-backed securities 2,064.6 76.3 (8.7) — 2,132.2 Total investment grade fixed maturities, available for sale 20,072.6 2,800.0 (37.6) (4.5) 22,830.5 Below-investment grade: Corporate securities 811.4 55.0 (1.5) (3.1) 861.8 States and political subdivisions 11.6 — — — 11.6 Asset-backed securities 145.9 1.8 (1.2) — 146.5 Non-agency residential mortgage-backed securities 729.4 128.1 (.2) — 857.3 Collateralized loan obligations 13.1 — (.1) — 13.0 Commercial mortgage-backed securities 83.6 1.6 (.5) — 84.7 Total below-investment grade fixed maturities, available for sale 1,795.0 186.5 (3.5) (3.1) 1,974.9 Total fixed maturities, available for sale $ 21,867.6 $ 2,986.5 $ (41.1) $ (7.6) $ 24,805.4 Accumulated other comprehensive income (loss) is primarily comprised of the net effect of unrealized appreciation (depreciation) on our investments. These amounts, included in shareholders' equity as of December 31, 2022 and 2021, were as follows (dollars in millions): 2022 2021 Net unrealized gains (losses) on investments having no allowance for credit losses $ (1,247.0) $ 2,963.3 Unrealized losses on investments with an allowance for credit losses (1,780.7) (23.1) Adjustment to present value of future profits (a) 8.2 (8.3) Adjustment to deferred acquisition costs 331.7 (420.2) Adjustment to insurance liabilities — (25.5) Deferred income tax assets (liabilities) 594.7 (539.1) Accumulated other comprehensive income (loss) $ (2,093.1) $ 1,947.1 ________ (a) The present value of future profits is the value assigned to the right to receive future cash flows from contracts existing at September 10, 2003, the date our Predecessor emerged from bankruptcy. At December 31, 2021, adjustments to the present value of future profits, deferred acquisition costs, insurance liabilities and deferred tax assets included $(7.3) million, $(132.2) million, $(25.5) million and $35.8 million, respectively, for premium deficiencies that would exist on certain blocks of business if unrealized gains on the assets backing such products had been realized and the proceeds from the sales of such assets were invested at then current yields. There were no such adjustments at December 31, 2022. Below-Investment Grade Securities At December 31, 2022, the amortized cost of the Company's below-investment grade fixed maturity securities, available for sale, was $1,410.4 million, or 6.0 percent of the Company's fixed maturity portfolio (or $771.7 million, or 3.3 percent, of the Company's fixed maturity portfolio measured based on credit quality ratings assigned by the NAIC). The estimated fair value of the below-investment grade portfolio was $1,318.5 million, or 93 percent of the amortized cost (or $672.8 million, or 87 percent of the amortized cost based on credit quality ratings assigned by the NAIC). Below-investment grade corporate debt securities typically have different characteristics than investment grade corporate debt securities. Based on historical performance, probability of default by the borrower is significantly greater for below-investment grade corporate debt securities and in many cases severity of loss is relatively greater as such securities are generally unsecured and often subordinated to other indebtedness of the issuer. Also, issuers of below-investment grade corporate debt securities frequently have higher levels of debt relative to investment-grade issuers, hence, all other things being equal, are generally more sensitive to adverse economic conditions. The Company attempts to reduce the overall risk related to its investment in below-investment grade securities, as in all investments, through careful credit analysis, strict investment policy guidelines, and diversification by issuer and/or guarantor and by industry. Contractual Maturity The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale, at December 31, 2022, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Structured securities (such as asset-backed securities, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, collateralized loan obligations and commercial mortgage-backed securities, collectively referred to as "structured securities") frequently include provisions for periodic principal payments and permit periodic unscheduled payments. Amortized Estimated (Dollars in millions) Due in one year or less $ 112.0 $ 110.8 Due after one year through five years 1,913.7 1,790.2 Due after five years through ten years 2,098.9 1,910.4 Due after ten years 12,629.4 10,523.2 Subtotal 16,754.0 14,334.6 Structured securities 6,630.2 6,018.8 Total fixed maturities, available for sale $ 23,384.2 $ 20,353.4 Net Investment Income Net investment income consisted of the following (dollars in millions): 2022 2021 2020 General account assets: Fixed maturities $ 1,084.1 $ 962.6 $ 924.8 Equity securities 5.9 4.3 3.0 Mortgage loans 63.0 65.0 79.5 Policy loans 8.4 8.2 8.5 Other invested assets 38.0 124.8 84.0 Cash and cash equivalents 5.9 .3 2.6 Policyholder and other special-purpose portfolios: Trading securities 7.7 7.2 28.1 Options related to fixed indexed products: Option income (loss) (6.3) 212.0 35.0 Change in value of options (200.3) 8.9 4.5 Other special-purpose portfolios 35.8 52.4 75.9 Gross investment income 1,042.2 1,445.7 1,245.9 Less investment expenses 26.3 25.0 23.4 Net investment income $ 1,015.9 $ 1,420.7 $ 1,222.5 At December 31, 2022, the amortized cost and carrying value of fixed maturities that were non-income producing during 2022 totaled $1.0 million and nil, respectively. Total Investment Gains (Losses) The following table sets forth the total investment gains (losses) for the periods indicated (dollars in millions): 2022 2021 2020 Realized investment gains (losses): Gross realized gains on sales of fixed maturities, available for sale $ 99.8 $ 51.6 $ 48.6 Gross realized losses on sales of fixed maturities, available for sale (104.0) (20.4) (53.7) Equity securities, net (8.3) (2.9) (3.3) Other, net (5.4) (7.0) (10.0) Total realized investment gains (losses) (17.9) 21.3 (18.4) Change in allowance for credit losses and impairments of other investments (a) (52.6) 12.2 (18.5) Change in fair value of equity securities (b) (2.9) (7.3) (1.8) Other changes in fair value (c) (62.0) (7.1) 2.5 Other investment losses (117.5) (2.2) (17.8) Total investment gains (losses) $ (135.4) $ 19.1 $ (36.2) _________________ (a) Changes in the allowance for credit losses includes $(1.8) million, $11.4 million and $(5.2) million for the years ended December 31, 2022, 2021 and 2020, respectively, related to investments held by VIEs. (b) Changes in the estimated fair value of equity securities (that are still held as of the end of the respective years) were $(7.3) million, $(7.8) million and $(1.7) million for the years ended December 31, 2022, 2021 and 2020, respectively. (c) Changes in the estimated fair value of trading securities that we have elected the fair value option (that are still held as of the end of the respective years) were $(43.3) million, $(3.1) million and $0.4 million for the years ended December 31, 2022, 2021 and 2020, respectively. During 2022, we recognized net investment losses of $135.4 million, which were comprised of: (i) $9.6 million of net losses from the sales of investments; (ii) $11.2 million of losses related to equity securities, including the change in fair value; (iii) the decrease in fair value of certain other invested assets and fixed maturity investments with embedded derivatives of $45.9 million; (iv) the decrease in fair value of embedded derivatives related to a modified coinsurance agreement of $16.1 million; and (v) an increase in the allowance for credit losses of $52.6 million. During 2021, we recognized net investment gains of $19.1 million, which were comprised of: (i) $24.2 million of net gains from the sales of investments; (ii) $10.2 million of losses related to equity securities, including the change in fair value; (iii) the decrease in fair value of certain fixed maturity investments with embedded derivatives of $4.0 million; (iv) the decrease in fair value of embedded derivatives related to a modified coinsurance agreement of $3.1 million; and (v) a decrease in the allowance for credit losses of $12.2 million. During 2020, we recognized net investment losses of $36.2 million, which were comprised of: (i) $15.1 million of net losses from the sales of investments; (ii) $5.1 million of losses related to equity securities, including the change in fair value; (iii) the decrease in fair value of certain fixed maturity investments with embedded derivatives of $0.1 million; (iv) the increase in fair value of embedded derivatives related to a modified coinsurance agreement of $2.6 million; and (v) an increase in the allowance for credit losses and other-than-temporary impairment losses of $18.5 million. At December 31, 2022, there were no fixed maturity investments in default. During 2022, the $104.0 million of realized losses on sales of $1,651.5 million of fixed maturity securities, available for sale, included: (i) $70.9 million related to various corporate securities; (ii) $16.5 million related to non-agency residential mortgage-backed securities; (iii) $7.5 million related to states and political subdivisions; and (iv) $9.1 million related to various other investments. Securities are generally sold at a loss following unforeseen issuer-specific events or conditions or shifts in perceived relative values. These reasons include but are not limited to: (i) changes in the investment environment; (ii) expectation that the market value could deteriorate; (iii) our desire to reduce our exposure to an asset class, an issuer or an industry; (iv) prospective or actual changes in credit quality; or (v) changes in expected portfolio cash flows. During 2021, the $20.4 million of realized losses on sales of $493.5 million of fixed maturity securities, available for sale included: (i) $19.5 million related to various corporate securities; and (ii) $0.9 million related to various other investments. During 2020, the $53.7 million of realized losses on sales of $507.1 million of fixed maturity securities, available for sale, included: (i) $16.2 million related to various corporate securities; (ii) $26.1 million related to commercial mortgage-backed securities; (iii) $9.6 million related to asset-backed securities; and (iv) $1.8 million related to various other investments. Our fixed maturity investments are generally purchased in the context of various long-term strategies, including funding insurance liabilities, so we do not generally seek to generate short-term realized gains through the purchase and sale of such securities. In certain circumstances, including those in which securities are selling at prices which exceed our view of their underlying economic value, or when it is possible to reinvest the proceeds to better meet our long-term asset-liability objectives, we may sell certain securities. The following summarizes the investments sold at a loss during 2022 which had been continuously in an unrealized loss position exceeding 20 percent of the amortized cost basis prior to the sale for the period indicated (dollars in millions): At date of sale Number Amortized cost Fair value Less than 6 months prior to sale 21 $ 85.6 $ 51.8 Greater than or equal to 6 months and less than 12 months prior to sale 3 6.1 4.2 $ 91.7 $ 56.0 Future events may occur, or additional information may become available, which may necessitate future realized losses in our portfolio. Significant losses could have a material adverse effect on our consolidated financial statements in future periods. Investments with Unrealized Losses The following table sets forth the amortized cost and estimated fair value of those fixed maturities, available for sale, with unrealized losses at December 31, 2022, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Structured securities frequently include provisions for periodic principal payments and permit periodic unscheduled payments. Amortized Estimated (Dollars in millions) Due in one year or less $ 91.2 $ 89.8 Due after one year through five years 1,741.9 1,615.5 Due after five years through ten years 1,845.3 1,649.8 Due after ten years 11,631.2 9,485.8 Subtotal 15,309.6 12,840.9 Structured securities 6,040.1 5,385.9 Total $ 21,349.7 $ 18,226.8 The following summarizes the investments in our portfolio rated below-investment grade not deemed to have credit losses which have been continuously in an unrealized loss position exceeding 20 percent of the cost basis for the period indicated as of December 31, 2022 (dollars in millions): Number Cost Unrealized Estimated Less than 6 months 6 $ 47.5 $ (11.1) $ 36.4 Greater than or equal to 6 months and less than 12 months 5 33.6 (10.3) 23.3 Total $ 81.1 $ (21.4) $ 59.7 The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at December 31, 2022 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair Unrealized Fair Unrealized Fair Unrealized Corporate securities $ 2,830.8 $ (329.4) $ 370.4 $ (129.3) $ 3,201.2 $ (458.7) United States Treasury securities and obligations of United States government corporations and agencies 134.4 (9.6) 21.9 (3.4) 156.3 (13.0) States and political subdivisions 667.0 (124.8) 132.1 (58.5) 799.1 (183.3) Foreign governments 35.0 (3.5) 2.1 (.3) 37.1 (3.8) Asset-backed securities 914.0 (90.1) 258.1 (53.4) 1,172.1 (143.5) Agency residential mortgage-backed securities 59.7 (.7) — — 59.7 (.7) Non-agency residential mortgage-backed securities 861.6 (89.7) 335.4 (102.2) 1,197.0 (191.9) Collateralized loan obligations 553.0 (27.4) 184.2 (12.2) 737.2 (39.6) Commercial mortgage-backed securities 1,581.4 (160.0) 593.3 (112.3) 2,174.7 (272.3) Total fixed maturities, available for sale $ 7,636.9 $ (835.2) $ 1,897.5 $ (471.6) $ 9,534.4 $ (1,306.8) The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at December 31, 2021 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair Unrealized Fair Unrealized Fair Unrealized Corporate securities $ 87.8 $ (.4) $ 9.2 $ (.1) $ 97.0 $ (.5) United States Treasury securities and obligations of United States government corporations and agencies 5.7 — 18.7 (.9) 24.4 (.9) States and political subdivisions 47.3 (.4) — — 47.3 (.4) Asset-backed securities 210.8 (2.4) 17.8 (.7) 228.6 (3.1) Non-agency residential mortgage-backed securities 380.8 (3.1) 2.3 — 383.1 (3.1) Collateralized loan obligations 271.5 (1.2) 32.8 (.1) 304.3 (1.3) Commercial mortgage-backed securities 694.7 (7.6) 41.4 (1.6) 736.1 (9.2) Total fixed maturities, available for sale $ 1,698.6 $ (15.1) $ 122.2 $ (3.4) $ 1,820.8 $ (18.5) Based on management's current assessment of investments with unrealized losses at December 31, 2022, the Company believes the issuers of the securities will continue to meet their obligations. While we do not have the intent to sell securities with unrealized losses and it is not more likely than not that we will be required to sell securities with unrealized losses prior to their anticipated recovery, our intent on an individual security may change, based upon market or other unforeseen developments. In such instances, if a loss is recognized from a sale subsequent to a balance sheet date due to these unexpected developments, the loss is recognized in the period in which we had the intent to sell the security before its anticipated recovery. The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the three years ended December 31, 2022 (dollars in millions): Corporate securities States and political subdivisions Foreign governments Asset-backed securities Non-agency residential mortgage-backed securities Total Allowance at January 1, 2020 $ 2.1 $ — $ — $ — $ — $ 2.1 Additions for securities for which credit losses were not previously recorded 23.6 .7 .1 .3 1.0 25.7 Additions for purchased securities with deteriorated credit — — — — — — Additions (reductions) for securities where an allowance was previously recorded (22.3) (.4) (.1) (.3) (1.0) (24.1) Reduction for securities sold during the period (1.5) — — — — (1.5) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — — — — — — Write-offs — — — — — — Recoveries of previously written-off amount — — — — — — Allowance at December 31, 2020 1.9 .3 — — — 2.2 Additions for securities for which credit losses were not previously recorded 6.1 .1 .1 — — 6.3 Additions for purchased securities with deteriorated credit — — — — — — Additions (reductions) for securities where an allowance was previously recorded .2 (.4) .2 — — — Reduction for securities sold during the period (.8) — (.1) — — (.9) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — — — — — — Write-offs — — — — — — Recoveries of previously written-off amount — — — — — — Allowance at December 31, 2021 7.4 — .2 — — 7.6 Additions for securities for which credit losses were not previously recorded 48.9 .7 .5 .3 — 50.4 Additions for purchased securities with deteriorated credit — — — — — — Additions (reductions) for securities where an allowance was previously recorded 10.3 .3 (.3) — — 10.3 Reduction for securities sold during the period (12.2) (.1) — — — (12.3) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — — — — — — Write-offs — — — — — — Recoveries of previously written-off amount — — — — — — Allowance at December 31, 2022 $ 54.4 $ .9 $ .4 $ .3 $ — $ 56.0 Structured Securities At December 31, 2022, fixed maturity investments included structured securities with an estimated fair value of $6.0 billion (or 29.6 percent of all fixed maturity securities). The yield characteristics of structured securities generally differ in some respects from those of traditional corporate fixed-income securities or government securities. For example, interest and principal payments on structured securities may occur more frequently, often monthly. In many instances, we are subject to variability in the amount and timing of principal and interest payments. For example, in many cases, partial prepayments may occur at the option of the issuer and prepayment rates are influenced by a number of factors that cannot be predicted with certainty, including: the relative sensitivity of prepayments on the underlying assets backing the security to changes in interest rates and asset values; the availability of alternative financing; a variety of economic, geographic and other factors; the timing, pace and proceeds of liquidations of defaulted collateral; and various security-specific structural considerations (for example, the repayment priority of a given security in a securitization structure). In addition, the total amount of payments for non-agency structured securities may be affected by changes to cumulative default rates or loss severities of the related collateral. Historically, the rate of prepayments on structured securities has tended to increase when prevailing interest rates have declined significantly in absolute terms and also relative to the interest rates on the underlying collateral. The yields recognized on structured securities purchased at a discount to par will generally increase (relative to the stated rate) when the underlying collateral prepays faster than expected. The yields recognized on structured securities purchased at a premium will decrease (relative to the stated rate) when the underlying collateral prepays faster than expected. When interest rates decline, the proceeds from prepayments may be reinvested at lower rates than we were earning on the prepaid securities. When interest rates increase, prepayments may decrease below expected levels. When this occurs, the average maturity and duration of structured securities increases, decreasing the yield on structured securities purchased at discounts and increasing the yield on those purchased at a premium because of a decrease in the annual amortization of premium. For structured securities included in fixed maturities, available for sale, that were purchased at a discount or premium, we recognize investment income using an effective yield based on anticipated future prepayments and the estimated final maturity of the securities. Actual prepayment experience is periodically reviewed and effective yields are recalculated when differences arise between the prepayments originally anticipated and the actual prepayments received and currently anticipated. For credit sensitive mortgage-backed and asset-backed securities, and for securities that can be prepaid or settled in a way that we would not recover substantially all of our investment, the effective yield is recalculated on a prospective basis. Under this method, the amortized cost basis in the security is not immediately adjusted and a new yield is applied prospectively. For all other structured and asset-backed securities, the effective yield is recalculated when changes in assumptions are made, and reflected in our income on a retrospective basis. Under this method, the amortized cost basis of the investment in the securities is adjusted to the amount that would have existed had the new effective yield been applied since the acquisition of the securities. Such adjustments were not significant in 2022. For purchased credit impaired securities, at acquisition, the difference between the undiscounted expected future cash flows and the recorded investment in the securities represents the initial accretable yield, which is accreted into net investment income over the securities’ remaining lives on a level-yield basis. Subsequently, effective yields recognized on purchased credit impaired securities are recalculated and adjusted prospectively to reflect changes in the contractual benchmark interest rates on variable rate securities and any significant increases in undiscounted expected future cash flows arising due to reasons other than interest rate changes. Significant decreases in expected cash flows arising from credit events would result in impairment if such security's fair value is below amortized cost. The amortized cost and estimated fair value of structured securities at December 31, 2022, summarized by type of security, were as follows (dollars in millions): Estimated fair value Type Amortized Amount Percent Asset-backed securities $ 1,435.7 $ 1,287.0 6.3 % Agency residential mortgage-backed securities 174.3 175.0 .9 Non-agency residential mortgage-backed securities 1,700.4 1,548.5 7.6 Collateralized loan obligations 825.2 785.9 3.9 Commercial mortgage-backed securities 2,494.6 2,222.4 10.9 Total structured securities $ 6,630.2 $ 6,018.8 29.6 % Residential mortgage-backed securities ("RMBS") include transactions collateralized by agency-guaranteed and non-agency mortgage obligations. Non-agency RMBS investments are primarily categorized by underlying borrower credit quality: Prime, Alt-A, Non-Qualified Mortgage ("Non-QM"), and Subprime. Prime borrowers typically default with the lowest frequency, Alt-A and Non-QM default at higher rates, and Subprime borrowers default with the highest frequency. In addition to borrower credit categories, RMBS investments include Re-Performing Loan ("RPL") and Credit Risk Transfer ("CRT") transactions. RPL transactions include borrowers with prior difficulty meeting the original mortgage terms and were subsequently modified, resulting in a sustainable payback arrangement. CRT securities are collateralized by Government-Sponsored Enterprise ("GSE") conforming mortgages and Prime borrowers, but without an agency guarantee against default losses. Commercial mortgage-backed securities ("CMBS") are secured by commercial real estate mortgages, generally income producing properties that are managed for profit. Property types include, but are not limited to, multi-family dwellings including apartments, retail centers, hotels, restaurants, hospitals, nursing homes, warehouses, and office buildings. While most CMBS have call protection features whereby underlying borrowers may not prepay their mortgages for stated periods of time without incurring prepayment penalties, recoveries on defaulted collateral may result in involuntary prepayments. Mortgage Loans Mortgage loans are carried at amortized unpaid balance, net of allowance for estimated credit losses. Interest income is accrued on the principal amount of the loan based on the loan's contractual interest rate. Payment terms specified for mortgage loans may include a prepayment penalty for unscheduled payoff of the investment. Prepayment penalties are recognized as investment income when received. The allowance for estimated credit losses is measured using a loss-rate method on an individual asset basis. Inputs used include asset-specific characteristics, current economic conditions, historical loss information and reasonable and supportable forecasts about future economic conditions. At December 31, 2022, the mortgage loan balance was primarily comprised of commercial mortgage loans. Approximately 16 percent, 10 percent, 7 percent and 7 percent of the commercial mortgage loan balance were on properties located in California, Maryland, Wisconsin and Georgia, respectively. No other state comprised greater than six percent of the commercial mortgage loan balance. At December 31, 2022, there were no commercial mortgage loans in process of foreclosure. At December 31, 2022, we held residential mortgage loan investments with a carrying value of $187.7 million and a fair value of $190.7 million. At December 31, 2022, there were three residential mortgage loans that were noncurrent with a carrying value of $0.6 million (of which, two loans with a carrying value of $0.5 million were in foreclosure). The following table provides the amortized cost by year of origination and estimated fair value of our outstanding commercial mortgage loans and the underlying collateral as of December 31, 2022 (dollars in millions): Estimated fair Loan-to-value ratio (a) 2022 2021 2020 2019 2018 Prior Total amortized cost Mortgage loans Collateral Less than 60% $ 234.1 $ 114.7 $ 43.5 $ 75.4 $ 66.5 $ 476.3 $ 1,010.5 $ 889.8 $ 4,027.6 60% to less than 70% 47.2 13.2 — — 8.2 45.0 113.6 104.7 170.7 70% to less than 80% 33.0 22.6 — — — — 55.6 47.2 72.3 80% to less than 90% — — — — — 42.5 42.5 34.5 52.0 90% or greater — — — — — 10.0 10.0 6.7 10.7 Total $ 314.3 $ 150.5 $ 43.5 $ 75.4 $ 74.7 $ 573.8 $ 1,232.2 $ 1,082.9 $ 4,333.3 ________________ (a) Loan-to-value ratios are calculated as the ratio of: (i)

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and, therefore, represents an exit price, not an entry price. We carry certain assets and liabilities at fair value on a recurring basis, including fixed maturities, equity securities, trading securities, investments held by VIEs, derivatives, separate account assets and embedded derivatives. We carry our COLI, which is invested in a series of mutual funds, at its cash surrender value which approximates fair value. In addition, we disclose fair value for certain financial instruments, including mortgage loans, policy loans, cash and cash equivalents, insurance liabilities for interest-sensitive products and funding agreements, investment borrowings, notes payable and borrowings related to VIEs. The degree of judgment utilized in measuring the fair value of financial instruments is largely dependent on the level to which pricing is based on observable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our view of market assumptions in the absence of observable market information. Financial instruments with readily available active quoted prices would be considered to have fair values based on the highest level of observable inputs, and little judgment would be utilized in measuring fair value. Financial instruments that rarely trade would often have fair value based on a lower level of observable inputs, and more judgment would be utilized in measuring fair value. Valuation Hierarchy There is a three-level hierarchy for valuing assets or liabilities at fair value based on whether inputs are observable or unobservable. • Level 1 – includes assets and liabilities valued using inputs that are unadjusted quoted prices in active markets for identical assets or liabilities. Our Level 1 assets primarily include cash and cash equivalents and exchange-traded securities. • Level 2 – includes assets and liabilities valued using inputs that are quoted prices for similar assets in an active market, quoted prices for identical or similar assets in a market that is not active, observable inputs, or observable inputs that can be corroborated by market data. Level 2 assets and liabilities include those financial instruments that are valued by independent pricing services using models or other valuation methodologies. These models consider various inputs such as credit rating, maturity, corporate credit spreads, reported trades and other inputs that are observable or derived from observable information in the marketplace or are supported by transactions executed in the marketplace. Financial assets in this category primarily include: certain publicly registered and privately placed corporate fixed maturity securities; certain government or agency securities; certain mortgage and asset-backed securities; certain equity securities; most investments held by our consolidated VIEs; and derivatives such as call options. Financial liabilities in this category include investment borrowings, notes payable and borrowings related to VIEs. • Level 3 – includes assets and liabilities valued using unobservable inputs that are used in model-based valuations that contain management assumptions. Level 3 assets and liabilities include those financial instruments whose fair value is estimated based on broker/dealer quotes, pricing services or internally developed models or methodologies utilizing significant inputs not based on, or corroborated by, readily available market information. Financial assets in this category include certain corporate securities, certain structured securities, mortgage loans, and other less liquid securities. Financial liabilities in this category include our insurance liabilities for interest-sensitive products, which includes embedded derivatives (including embedded derivatives related to our fixed indexed annuity products and to a modified coinsurance arrangement), and funding agreements since their values include significant unobservable inputs including actuarial assumptions. At each reporting date, we classify assets and liabilities into the three input levels based on the lowest level of input that is significant to the measurement of fair value for each asset and liability reported at fair value. This classification is impacted by a number of factors, including the type of financial instrument, whether the financial instrument is new to the market and not yet established, the characteristics specific to the transaction and overall market conditions. Our assessment of the significance of a particular input to the fair value measurement and the ultimate classification of each asset and liability requires judgment and is subject to change from period to period based on the observability of the valuation inputs. The vast majority of our assets carried at fair value use Level 2 inputs for the determination of fair value. These fair values are obtained primarily from independent pricing services, which use Level 2 inputs for the determination of fair value. Our Level 2 assets are valued as follows: • Fixed maturities available for sale, equity securities and trading securities Corporate securities are generally priced using market and income approaches using independent pricing services. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity and credit spreads. U.S. Treasuries and obligations of U.S. Government corporations and agencies are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets and maturity. States and political subdivisions are generally priced using the market approach using independent pricing services. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, new issuances and credit spreads. Foreign governments are generally priced using the market approach using independent pricing services. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, new issuances, benchmark yields, credit spreads and issuer rating. Asset-backed securities, agency and non-agency residential mortgage-backed securities, collateralized loan obligations and commercial mortgage-backed securities are generally priced using market and income approaches using independent pricing services. Inputs generally consist of quoted prices in inactive markets, spreads on actively traded securities, expected prepayments, expected default rates, expected recovery rates and issue specific information including, but not limited to, collateral type, seniority and vintage. Equity securities are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity and credit spreads. • Investments held by VIEs Corporate securities are generally priced using market and income approaches using pricing vendors. Inputs generally consist of issuer rating, benchmark yields, maturity, and credit spreads. • Other invested assets - derivatives The fair value measurements for derivative instruments, including embedded derivatives requiring bifurcation, are determined based on the consideration of several inputs including closing exchange or over-the-counter market price quotes, time value and volatility factors underlying options, market interest rates and non-performance risk. Third-party pricing services normally derive security prices through recently reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information. If there are no recently reported trades, the third-party pricing services may use matrix or model processes to develop a security price where future cash flow expectations are discounted at an estimated risk-adjusted market rate. The number of prices obtained for a given security is dependent on the Company's analysis of such prices as further described below. As the Company is responsible for the determination of fair value, we have control processes designed to ensure that the fair values received from third-party pricing sources are reasonable and the valuation techniques and assumptions used appear reasonable and consistent with prevailing market conditions. Additionally, when inputs are provided by third-party pricing sources, we have controls in place to review those inputs for reasonableness. As part of these controls, we perform monthly quantitative and qualitative analysis on the prices received from third parties to determine whether the prices are reasonable estimates of fair value. The Company's analysis includes: (i) a review of the methodology used by third-party pricing services; (ii) where available, a comparison of multiple pricing services' valuations for the same security; (iii) a review of month to month price fluctuations; (iv) a review to ensure valuations are not unreasonably dated; and (v) back testing to compare actual purchase and sale transactions with valuations received from third parties. As a result of such procedures, the Company may conclude a particular price received from a third party is not reflective of current market conditions. In those instances, we may request additional pricing quotes or apply internally developed valuations. However, the number of such instances is insignificant and the aggregate change in value of such investments is not materially different from the original prices received. The categorization of the fair value measurements of our investments priced by independent pricing services was based upon the Company's judgment of the inputs or methodologies used by the independent pricing services to value different asset classes. Such inputs typically include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and other relevant data. The Company categorizes such fair value measurements based upon asset classes and the underlying observable or unobservable inputs used to value such investments. For securities that are not priced by pricing services and may not be reliably priced using pricing models, we obtain broker quotes. These broker quotes are non-binding and represent an exit price, but assumptions used to establish the fair value may not be observable and therefore represent Level 3 inputs. Approximately 89 percent of our Level 3 fixed maturity securities and trading securities were valued using unadjusted broker quotes or broker-provided valuation inputs. The remaining Level 3 fixed maturity investments do not have readily determinable market prices and/or observable inputs. For these securities, we use internally developed valuations. Key assumptions used to determine fair value for these securities may include risk premiums, projected performance of underlying collateral and other factors involving significant assumptions which may not be reflective of an active market. For certain investments, we use a matrix or model process to develop a security price where future cash flow expectations are discounted at an estimated market rate. The pricing matrix incorporates term interest rates as well as a spread level based on the issuer's credit rating, other factors relating to the issuer, and the security's maturity. In some instances issuer-specific spread adjustments, which can be positive or negative, are made based upon internal analysis of security specifics such as liquidity, deal size, and time to maturity. The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2022 is as follows (dollars in millions): Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 11,584.9 $ 127.8 $ 11,712.7 United States Treasury securities and obligations of United States government corporations and agencies — 158.7 — 158.7 States and political subdivisions — 2,388.5 — 2,388.5 Foreign governments — 74.7 — 74.7 Asset-backed securities — 1,230.0 57.0 1,287.0 Agency residential mortgage-backed securities — 175.0 — 175.0 Non-agency residential mortgage-backed securities — 1,492.3 56.2 1,548.5 Collateralized loan obligations — 782.5 3.4 785.9 Commercial mortgage-backed securities — 2,207.9 14.5 2,222.4 Total fixed maturities, available for sale — 20,094.5 258.9 20,353.4 Equity securities - corporate securities 59.6 — 75.7 135.3 Trading securities: Asset-backed securities — 15.1 — 15.1 Agency residential mortgage-backed securities — .3 — .3 Non-agency residential mortgage-backed securities — 60.2 .5 60.7 Commercial mortgage-backed securities — 131.8 — 131.8 Total trading securities — 207.4 .5 207.9 Investments held by variable interest entities - corporate securities — 1,077.6 — 1,077.6 Other invested assets: Derivatives — 56.7 — 56.7 Residential tranches — — 18.3 18.3 Total other invested assets — 56.7 18.3 75.0 Assets held in separate accounts — 2.7 — 2.7 Total assets carried at fair value by category $ 59.6 $ 21,438.9 $ 353.4 $ 21,851.9 Liabilities: Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) $ — $ — $ 1,297.0 $ 1,297.0 The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2021 is as follows (dollars in millions): Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 15,361.1 $ 89.7 $ 15,450.8 United States Treasury securities and obligations of United States government corporations and agencies — 219.6 — 219.6 States and political subdivisions — 3,004.2 — 3,004.2 Foreign governments — 98.5 — 98.5 Asset-backed securities — 1,136.3 26.6 1,162.9 Agency residential mortgage-backed securities — 40.4 — 40.4 Non-agency residential mortgage-backed securities — 2,023.8 — 2,023.8 Collateralized loan obligations — 583.3 5.0 588.3 Commercial mortgage-backed securities — 2,197.9 19.0 2,216.9 Total fixed maturities, available for sale — 24,665.1 140.3 24,805.4 Equity securities - corporate securities 100.8 18.8 11.5 131.1 Trading securities: Asset-backed securities — 5.8 — 5.8 Agency residential mortgage-backed securities — .4 — .4 Non-agency residential mortgage-backed securities — 77.5 3.5 81.0 Commercial mortgage-backed securities — 127.1 12.9 140.0 Total trading securities — 210.8 16.4 227.2 Investments held by variable interest entities - corporate securities — 1,197.4 2.2 1,199.6 Other invested assets - derivatives — 227.5 — 227.5 Assets held in separate accounts — 3.9 — 3.9 Total assets carried at fair value by category $ 100.8 $ 26,323.5 $ 170.4 $ 26,594.7 Liabilities: Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) $ — $ — $ 1,724.1 $ 1,724.1 The fair value of our financial instruments disclosed at fair value on a recurring basis are as follows (dollars in millions): December 31, 2022 Quoted prices in active markets for identical assets or liabilities Significant other observable inputs Significant unobservable inputs Total estimated fair value Total carrying amount Assets: Mortgage loans $ — $ — $ 1,273.6 $ 1,273.6 $ 1,411.9 Policy loans — — 121.6 121.6 121.6 Other invested assets: Company-owned life insurance — 199.1 — 199.1 199.1 Cash and cash equivalents: Unrestricted 575.7 — — 575.7 575.7 Held by variable interest entities 69.2 — — 69.2 69.2 Liabilities: Policyholder account liabilities — — 14,858.3 14,858.3 14,858.3 Investment borrowings — 1,640.5 — 1,640.5 1,639.5 Borrowings related to variable interest entities — 1,066.3 — 1,066.3 1,104.6 Notes payable – direct corporate obligations — 1,077.0 — 1,077.0 1,138.8 December 31, 2021 Quoted prices in active markets for identical assets or liabilities Significant other observable inputs Significant unobservable inputs Total estimated fair value Total carrying amount Assets: Mortgage loans $ — $ — $ 1,297.5 $ 1,297.5 $ 1,218.6 Policy loans — — 120.2 120.2 120.2 Other invested assets: Company-owned life insurance — 207.0 — 207.0 207.0 Cash and cash equivalents: Unrestricted 632.1 — — 632.1 632.1 Held by variable interest entities 99.6 — — 99.6 99.6 Liabilities: Policyholder account liabilities — — 13,689.7 13,689.7 13,689.7 Investment borrowings — 1,719.6 — 1,719.6 1,715.8 Borrowings related to variable interest entities — 1,144.8 — 1,144.8 1,147.9 Notes payable – direct corporate obligations — 1,283.4 — 1,283.4 1,137.3 The following table presents additional information about assets measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the year ended December 31, 2022 (dollars in millions): December 31, 2022 Beginning balance as of December 31, 2021 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of December 31, 2022 Amount of total gains (losses) for the year ended December 31, 2022 included in our net income relating to assets still held as of the reporting date Amount of total gains (losses) for the year ended December 31, 2022 included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 89.7 $ 15.2 $ (10.4) $ (35.5) $ 76.2 $ (7.4) $ 127.8 $ (9.8) $ (37.8) Asset-backed securities 26.6 38.1 (.1) (10.3) 2.7 — 57.0 — (10.3) Non-agency residential mortgage-backed securities — 14.3 (.3) (24.7) 66.9 — 56.2 — (24.7) Collateralized loan obligations 5.0 — — (.2) 3.6 (5.0) 3.4 — (.4) Commercial mortgage-backed securities 19.0 — — (4.5) — — 14.5 — (4.6) Total fixed maturities, available for sale 140.3 67.6 (10.8) (75.2) 149.4 (12.4) 258.9 (9.8) (77.8) Equity securities - corporate securities 11.5 63.9 .3 — — — 75.7 .4 — Trading securities: Non-agency residential mortgage-backed securities 3.5 — (.3) — .8 (3.5) .5 (.3) — Commercial mortgage-backed securities 12.9 — — — — (12.9) — — — Total trading securities 16.4 — (.3) — .8 (16.4) .5 (.3) — Investments held by variable interest entities - corporate securities 2.2 (2.1) (.1) — — — — — — Other invested assets - residual tranches — 18.6 — (2.1) 1.8 — 18.3 — (2.1) _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities. The following summarizes such activity for the year ended December 31, 2022 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 27.3 $ (12.1) $ — $ — $ 15.2 Asset-backed securities 41.0 (2.9) — — 38.1 Non-agency residential mortgage-backed securities 20.3 (6.0) — — 14.3 Total fixed maturities, available for sale 88.6 (21.0) — — 67.6 Equity securities - corporate securities 67.0 (3.1) — — 63.9 Investments held by variable interest entities - corporate securities — (2.1) — — (2.1) Other invested assets - residual tranches 18.6 — — — 18.6 The following table presents additional information about assets measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the year ended December 31, 2021 (dollars in millions): December 31, 2021 Beginning balance as of December 31, 2020 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of December 31, 2021 Amount of total gains (losses) for the year ended December 31, 2021 included in our net income relating to assets still held as of the reporting date Amount of total gains (losses) for the year ended December 31, 2021 included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 146.9 $ 25.0 $ (.5) $ 1.4 $ — $ (83.1) $ 89.7 $ (.5) $ (.6) Asset-backed securities 14.3 14.4 — (.1) — (2.0) 26.6 — (.1) Non-agency residential mortgage-backed securities 1.6 — — — — (1.6) — — — Collateralized loan obligations — 5.0 — — — — 5.0 — — Commercial mortgage-backed securities — 6.5 — (.7) 13.2 — 19.0 — (.8) Total fixed maturities, available for sale 162.8 50.9 (.5) .6 13.2 (86.7) 140.3 (.5) (1.5) Equity securities - corporate securities 26.8 (8.0) (7.3) — — — 11.5 (7.3) — Trading securities: Non-agency residential mortgage-backed securities 5.9 (2.5) (.4) .5 — — 3.5 (.4) — Commercial mortgage-backed securities 17.0 — (.1) .7 — (4.7) 12.9 (.1) — Total trading securities 22.9 (2.5) (.5) 1.2 — (4.7) 16.4 (.5) — Investments held by variable interest entities - corporate securities — (.2) — .1 2.3 — 2.2 — .1 ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities. The following summarizes such activity for the year ended December 31, 2021 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 25.2 $ (.2) $ — $ — $ 25.0 Asset-backed securities 15.0 (.6) — — 14.4 Collateralized loan obligations 5.0 — — — 5.0 Commercial mortgage-backed securities 6.5 — — — 6.5 Total fixed maturities, available for sale 51.7 (.8) — — 50.9 Equity securities - corporate securities .2 (8.2) — — (8.0) Trading securities - non-agency residential mortgage-backed securities — (2.5) — — (2.5) Investments held by variable interest entities - corporate securities — (.2) — — (.2) Realized and unrealized investment gains and losses presented in the preceding tables represent gains and losses during the time the applicable financial instruments were classified as Level 3. Realized and unrealized gains (losses) on Level 3 assets are primarily reported in either net investment income for policyholder and other special-purpose portfolios or investment gains (losses) within the consolidated statement of operations or accumulated other comprehensive income (loss) within shareholders' equity based on the appropriate accounting treatment for the instrument. The amount presented for gains (losses) included in our net income for assets still held as of the reporting date primarily represents: (i) the change in the allowance for credit losses for fixed maturities, available for sale; and (ii) changes in fair value of equity securities and trading securities that are held as of the reporting date. The amount presented for gains (losses) included in accumulated other comprehensive income (loss) for assets still held as of the reporting date primarily represents changes in the fair value of fixed maturities, available for sale, that are held as of the reporting date. At December 31, 2022, 86 percent of our Level 3 fixed maturities, available for sale, were investment grade and 49 percent of our Level 3 fixed maturities, available for sale, consisted of corporate securities. The following table summarizes changes in the value of our embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) which are measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value (dollars in millions): 2022 2021 Balance at beginning of the period $ 1,724.1 $ 1,644.5 Premiums less benefits 61.4 103.1 Change in fair value, net (488.5) (23.5) Balance at end of the period $ 1,297.0 $ 1,724.1 The change in fair value, net for each period in our embedded derivatives is included in the consolidated statement of operations. The following table provides additional information about the significant unobservable (Level 3) inputs developed internally by the Company to determine fair value for certain assets and liabilities carried at fair value at December 31, 2022 (dollars in millions): Fair value at December 31, 2022 Valuation techniques Unobservable inputs Range (weighted average) (a) Assets: Corporate securities (b) $ 2.9 Discounted cash flow analysis Discount margins 2.23% - 3.94% (2.25%) Corporate securities (c) 3.5 Recovery method Percent of recovery expected 0.00% - 35.00% (35.00%) Corporate securities (d) .5 Unadjusted purchase price Not applicable Not applicable Asset-backed securities (e) 21.8 Discounted cash flow analysis Discount margins 2.50% - 3.86% (3.30%) Equity securities (f) 63.9 Market comparables EBITDA multiples 8.5X Equity securities (g) .1 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Equity securities (h) 11.7 Unadjusted purchase price Not applicable Not applicable Other assets categorized as Level 3 (i) 249.0 Unadjusted third-party price source Not applicable Not applicable Total 353.4 Liabilities: Embedded derivatives related to fixed indexed annuity products (classified as policyholder account liabilities) (j) 1,297.0 Discounted projected embedded derivatives Projected portfolio yields 4.30% - 4.63% (4.31%) Discount rates 3.77% - 5.48% (4.47%) Surrender rates 1.90% - 27.70% (9.20%) ________________________________ (a) The weighted average is based on the relative fair value of the related assets or liabilities. (b) Corporate securities - The significant unobservable input used in the fair value measurement of our corporate securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would have resulted in a significantly lower (higher) fair value measurement. (c) Corporate securities - The significant unobservable input used in the fair value measurement of these corporate securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would have resulted in a significantly higher (lower) fair value measurement. (d) Corporate securities - For these assets, there were no adjustments to the purchase price. (e) Asset-backed securities - The significant unobservable input used in the fair value measurement of these asset-backed securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would have resulted in a significantly lower (higher) fair value measurement. (f) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is multiples of earnings before interest, taxes, depreciation and amortization ("EBITDA"). Generally, increases (decreases) in the EBITDA multiples would result in higher (lower) fair value measurements. (g) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would have resulted in a significantly higher (lower) fair value measurement. (h) Equity securities - For these assets, there were no adjustments to the purchase price. (i) Other assets categorized as Level 3 - For these assets, there were no adjustments to non-binding quoted market prices obtained from third-party pricing sources. (j) Embedded derivatives related to fixed indexed annuity products (classified as policyholder account liabilities) - The significant unobservable inputs used in the fair value measurement of our embedded derivatives associated with fixed indexed annuity products are projected portfolio yields, discount rates and surrender rates. Increases (decreases) in The following table provides additional information about the significant unobservable (Level 3) inputs developed internally by the Company to determine fair value for certain assets and liabilities carried at fair value at December 31, 2021 (dollars in millions): Fair value at December 31, 2021 Valuation techniques Unobservable inputs Range (weighted average) (a) Assets: Corporate securities (b) $ .1 Discounted cash flow analysis Discount margins 4.49% Corporate securities (c) 2.3 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Corporate securities (d) 12.5 Unadjusted purchase price Not applicable Not applicable Asset-backed securities (e) 11.6 Discounted cash flow analysis Discount margins 1.50% Equity securities (f) 3.3 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Equity securities (g) 8.2 Unadjusted purchase price Not applicable Not applicable Other assets categorized as Level 3 (h) 132.4 Unadjusted third-party price source Not applicable Not applicable Total 170.4 Liabilities: Embedded derivatives related to fixed indexed annuity products (classified as policyholder account liabilities) (i) 1,724.1 Discounted projected embedded derivatives Projected portfolio yields 3.98% - 4.37% (3.99%) Discount rates 0.31% - 3.18% (1.89%) Surrender rates 1.50% - 26.40% (9.00%) ________________________________ (a) The weighted average is based on the relative fair value of the related assets or liabilities. (b) Corporate securities - The significant unobservable input used in the fair value measurement of our corporate securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would have resulted in a significantly lower (higher) fair value measurement. (c) Corporate securities - The significant unobservable input used in the fair value measurement of these corporate securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would have resulted in a significantly higher (lower) fair value measurement. (d) Corporate securities - For these assets, there were no adjustments to the purchase price. (e) Asset-backed securities - The significant unobservable input used in the fair value measurement of these asset-backed securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would have resulted in a significantly lower (higher) fair value measurement. (f) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would have resulted in a significantly higher (lower) fair value measurement. (g) Equity securities - For these assets, there were no adjustments to the purchase price. (h) Other assets categorized as Level 3 - For these assets, there were no a

LIABILITIES FOR INSURANCE PRODU

LIABILITIES FOR INSURANCE PRODUCTS	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
LIABILITIES FOR INSURANCE PRODUCTS	LIABILITIES FOR INSURANCE PRODUCTS Our future policy benefits are summarized as follows (dollars in millions): Withdrawal assumption Morbidity assumption Mortality assumption Average interest rate assumption 2022 2021 Long-term care Company experience Company experience Company experience 5% $ 5,292.4 $ 5,236.1 Traditional life insurance contracts Company experience Not applicable (a) 5% 2,695.6 2,632.4 Accident and health contracts Company experience Company experience Company experience 5% 3,384.3 3,302.7 Interest-sensitive life insurance contracts Company experience Company experience Company experience 5% 53.5 73.6 Annuities and supplemental contracts with life contingencies Company experience Not applicable (b) 3% 383.3 425.9 Total $ 11,809.1 $ 11,670.7 ____________________ (a) Principally, modifications of: (i) the 1965 ‑ 70 and 1975 - 80 Basic Tables; and (ii) the 1941, 1958 and 1980 Commissioners' Standard Ordinary Tables; as well as Company experience. (b) Principally, modifications of: (i) the 1971 Individual Annuity Mortality Table; (ii) the 1983 Table "A"; and (iii) the Annuity 2000 Mortality Table; as well as Company experience. Our policyholder account liabilities are summarized as follows (dollars in millions): 2022 2021 Fixed indexed annuities $ 9,268.9 $ 8,891.7 Other annuities 2,855.6 3,014.2 Interest-sensitive life insurance contracts 1,323.0 1,281.8 Funding agreements 1,410.8 502.0 Total $ 14,858.3 $ 13,689.7 The Company establishes reserves for insurance policy benefits based on assumptions as to investment yields, mortality, morbidity, withdrawals, lapses and maintenance expenses. These reserves include amounts for estimated future payment of claims based on actuarial assumptions. The balance includes provision for the Company's best estimate of the future policyholder benefits to be incurred on this business, given recent and expected future changes in experience. Changes in the unpaid claims reserve (included in claims payable) and disabled life reserves related to accident and health insurance (included in the liability for future policy benefits) were as follows (dollars in millions): 2022 2021 2020 Balance, beginning of year $ 1,742.2 $ 1,825.0 $ 1,921.2 Less reinsurance (receivables) payables (814.6) (881.5) (993.2) Net balance, beginning of year 927.6 943.5 928.0 Incurred claims related to: Current year 1,177.8 1,205.0 1,177.8 Prior years (a) (111.2) (111.5) (75.2) Total incurred 1,066.6 1,093.5 1,102.6 Interest on claim reserves 33.1 34.8 36.8 Paid claims related to: Current year (789.6) (802.9) (766.1) Prior years (342.6) (341.3) (357.8) Total paid (1,132.2) (1,144.2) (1,123.9) Net balance, end of year 895.1 927.6 943.5 Add reinsurance receivables (payables) 863.2 814.6 881.5 Balance, end of year $ 1,758.3 $ 1,742.2 $ 1,825.0 ___________ (a) The reserves and liabilities we establish are necessarily based on estimates, assumptions and prior years' statistics. Such amounts will fluctuate based upon the estimation procedures used to determine the amount of unpaid losses. It is possible that actual claims will exceed our reserves and have a material adverse effect on our results of operations and financial condition.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of income tax expense (benefit) were as follows (dollars in millions): 2022 2021 2020 Current tax expense (benefit) $ 31.8 $ 64.1 $ (24.0) Deferred tax expense 88.7 62.6 100.5 Income tax expense calculated based on annual effective tax rate 120.5 126.7 76.5 Income tax expense on discrete items: Carryback of net operating losses to years with a higher statutory corporate rate pursuant to provisions of the CARES Act (as defined below) — — (34.0) Total income tax expense $ 120.5 $ 126.7 $ 42.5 The Coronavirus Aid, Relief, and Economic Security ("CARES") Act, a tax-and-spending package intended to provide economic relief to address the impact of the COVID-19 pandemic, was signed into law in March 2020. Provisions in the CARES Act permitted NOLs arising in a taxable year beginning after December 31, 2017, and before January 1, 2021 to be allowed as a carryback to each of the five taxable years preceding the taxable year of such loss. Accordingly, we were able to carryback the NOL created in 2018 related to the long-term care reinsurance transaction to 2017 and 2016 resulting in a $34.0 million tax benefit in 2020 due to the difference in tax rates between the current enacted rate of 21% and the enacted rate in 2016 and 2017 of 35%. This provision also accelerated the utilization of approximately $375 million of life NOLs and restored approximately $130 million of non-life NOLs. Further, the CARES Act temporarily repealed the 80 percent limitation for taxable years beginning before January 1, 2021 (as required under the Tax Cuts and Job Act (the "Tax Reform Act")). This provision resulted in the acceleration of approximately $105 million of life NOLs and restored approximately $35 million of non-life NOLs. In July 2021, we received an $80 million refund from the Internal Revenue Service (the "IRS") pursuant to the carryback provisions in the CARES Act. A reconciliation of the U.S. statutory corporate tax rate to the effective rate reflected in the consolidated statement of operations is as follows: 2022 2021 2020 U.S. statutory corporate rate 21.0 % 21.0 % 21.0 % Non-taxable income and nondeductible benefits, net (.4) (.5) (.4) State taxes 2.7 1.8 1.6 Carryback of net operating losses to years with a higher statutory corporate rate pursuant to provisions of the CARES Act — — (9.9) Effective tax rate 23.3 % 22.3 % 12.3 % The components of the Company's income tax assets and liabilities are summarized below (dollars in millions): 2022 2021 Deferred tax assets: Net federal operating loss carryforwards $ 166.0 $ 241.4 Net state operating loss carryforwards 2.5 2.3 Insurance liabilities 322.2 390.7 Indirect costs allocable to self-constructed real estate assets 214.8 158.3 Accumulated other comprehensive loss 589.0 — Other 7.3 27.5 Gross deferred tax assets 1,301.8 820.2 Deferred tax liabilities: Investments (37.2) (48.2) Present value of future profits and deferred acquisition costs (107.1) (119.4) Accumulated other comprehensive income — (540.4) Gross deferred tax liabilities (144.3) (708.0) Net deferred tax assets 1,157.5 112.2 Current income taxes prepaid 8.0 6.1 Income tax assets, net $ 1,165.5 $ 118.3 Our income tax expense includes deferred income taxes arising from temporary differences between the financial reporting and tax bases of assets and liabilities and NOLs. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which temporary differences are expected to be recovered or paid. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in earnings in the period when the changes are enacted. A reduction of the net carrying amount of deferred tax assets by establishing a valuation allowance is required if, based on the available evidence, it is more likely than not that such assets will not be realized. In assessing the need for a valuation allowance, all available evidence, both positive and negative, are considered to determine whether, based on the weight of that evidence, a valuation allowance for deferred tax assets is needed. This assessment requires significant judgment and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of carryforward periods, our experience with operating loss and tax credit carryforwards expiring unused, and tax planning strategies. We evaluate the need to establish a valuation allowance for our deferred income tax assets on an ongoing basis using a deferred tax valuation model. Our model is adjusted to reflect changes in our projections of future taxable income including changes resulting from the Tax Reform Act, investment strategies, the impact of the sale or reinsurance of business, the recapture of business previously ceded, tax planning strategies and the COVID-19 pandemic. Our estimates of future taxable income are based on evidence we consider to be objectively verifiable. At December 31, 2022, our projection of future taxable income for purposes of determining the valuation allowance is based on our estimates of such future taxable income through the date our NOLs expire. Such estimates are subject to the risks and uncertainties associated with the COVID-19 pandemic and the extent to which actual impacts differ from the assumptions used in our deferred tax valuation model. Based on our assessment, we have concluded that it is more likely than not that all our deferred tax assets of $1,157.5 million will be realized through future taxable earnings. Recovery of our deferred tax asset is dependent on achieving the level of future taxable income projected in our deferred tax valuation model and failure to do so could result in an increase in the valuation allowance in a future period. Any future increase in the valuation allowance may result in additional income tax expense and reduce shareholders' equity, and such an increase could have a significant impact upon our earnings in the future. The Internal Revenue Code (the "Code") limits the extent to which losses realized by a non-life entity (or entities) may offset income from a life insurance company (or companies) to the lesser of: (i) 35 percent of the income of the life insurance company; or (ii) 35 percent of the total loss of the non-life entities (including NOLs of the non-life entities). There is no similar limitation on the extent to which losses realized by a life insurance entity (or entities) may offset income from a non-life entity (or entities). Section 382 of the Code imposes limitations on a corporation's ability to use its NOLs when the company undergoes a 50 percent ownership change over a three year period. Future transactions and the timing of such transactions could cause an ownership change for Section 382 income tax purposes. Such transactions may include, but are not limited to, additional repurchases under our securities repurchase program, issuances of common stock and acquisitions or sales of shares of CNO stock by certain holders of our shares, including persons who have held, currently hold or may accumulate in the future five percent or more of our outstanding common stock for their own account. Many of these transactions are beyond our control. If an additional ownership change were to occur for purposes of Section 382, we would be required to calculate an annual restriction on the use of our NOLs to offset future taxable income. The annual restriction would be calculated based upon the value of CNO's equity at the time of such ownership change, multiplied by a federal long-term tax exempt rate (3.29 percent at December 31, 2022), and the annual restriction could limit our ability to use a substantial portion of our NOLs to offset future taxable income. We regularly monitor ownership change (as calculated for purposes of Section 382) and, as of December 31, 2022, we were below the 50 percent ownership change level that could limit our ability to utilize our NOLs. In 2009, the Company's Board of Directors adopted a Section 382 Rights Agreement designed to protect shareholder value by preserving the value of our tax assets primarily associated with tax NOLs under Section 382. The Section 382 Rights Agreement was adopted to reduce the likelihood of an ownership change occurring by deterring the acquisition of stock that would create "5 percent shareholders" as defined in Section 382. The Section 382 Rights Agreement has been amended four times, most recently effective November 13, 2020 (the "Fourth Amended and Restated Section 382 Rights Agreement"). The Fourth Amended and Restated Section 382 Rights Agreement extended the expiration date of the Section 382 Rights Agreement to November 13, 2023, updated the purchase price of the rights described below and provided for a new series of preferred stock relating to the rights that is substantially identical to the prior series of preferred stock. The Fourth Amended and Restated Section 382 Rights Agreement was approved by the Company's stockholders at the Company’s 2021 annual meeting. Under the Section 382 Rights Agreement, one right was distributed for each share of our common stock outstanding as of the close of business on January 30, 2009 and for each share issued after that date. Pursuant to the Fourth Amended and Restated Section 382 Rights Agreement, if any person or group (subject to certain exemptions) becomes an owner of more than 4.99 percent of the Company's outstanding common stock (or any other interest in the Company that would be treated as "stock" under applicable Section 382 regulations) without the approval of the Board of Directors, there would be a triggering event causing significant dilution in the voting power and economic ownership of that person or group. Shareholders who held more than 4.99 percent of the Company's outstanding common stock as of November 13, 2020 will trigger a dilutive event only if they acquire additional shares exceeding one percent of our outstanding shares without prior approval from the Board of Directors. In 2010, our shareholders approved an amendment to CNO's certificate of incorporation designed to prevent certain transfers of common stock which could otherwise adversely affect our ability to use our NOLs (the "Original Section 382 Charter Amendment"). Subject to the provisions set forth in the Original Section 382 Charter Amendment, the transfer restrictions generally will restrict any direct or indirect transfer (such as transfers of our common stock that results from the transfer of interests in other entities that own our stock) if: (i) the transferor is a person or public group (as such term is defined in the regulations under Section 382) who directly or indirectly owns or is deemed to own 4.99% or more of our common stock; (ii) the effect of the transfer would be to increase the direct or indirect ownership of our common stock by any person or public group from less than 4.99% to 4.99% or more of our common stock; or (iii) the effect of the transfer would be to increase the percentage of our common stock owned directly or indirectly by a person or public group owning or deemed to own 4.99% or more of our common stock. The Original Section 382 Charter Amendment was amended and extended in 2013, 2016, 2019 and 2022 (the "2022 Section 382 Charter Amendment"). The expiration date for the 2022 Section 382 Charter Amendment is July 31, 2025. We have $0.8 billion of federal NOLs as of December 31, 2022, as summarized below (dollars in millions): Net operating loss Year of expiration carryforwards 2023 $ 203.7 2025 85.2 2026 149.9 2027 10.8 2028 80.3 2029 213.2 2030 .3 2031 .2 2032 44.4 2033 .6 2034 .9 2035 .8 Total federal non-life NOLs $ 790.3 Our life NOLs were fully utilized in 2020. Our non-life NOLs can be used to offset 35 percent of life insurance company taxable income and 100 percent of non-life company taxable income until all non-life NOLs are utilized or expire. We also had deferred tax assets related to NOLs for state income taxes of $2.5 million and $2.3 million at December 31, 2022 and 2021, respectively. The related state NOLs are available to offset future state taxable income in certain states and are expected to be fully utilized prior to expiration. There were no unrecognized tax benefits in either 2022 or 2021.

NOTES PAYABLE - DIRECT CORPORAT

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS	NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS The following notes payable were direct corporate obligations of the Company as of December 31, 2022 and 2021 (dollars in millions): 2022 2021 5.250% Senior Notes due May 2025 $ 500.0 $ 500.0 5.250% Senior Notes due May 2029 500.0 500.0 5.125% Subordinated Debentures due 2060 150.0 150.0 Revolving Credit Agreement (as defined below) — — Unamortized debt issuance costs (11.2) (12.7) Direct corporate obligations $ 1,138.8 $ 1,137.3 Subordinated Debentures due 2060 In November 2020, the Company issued $150.0 million of 5.125% Subordinated Debentures due 2060 (the "Debentures"). The terms of the Debentures are set forth in the Indenture, dated as of June 12, 2019 (the "2019 Base Indenture") as supplemented by the Second Supplemental Indenture, dated as of November 25, 2020 (the "2020 Supplemental Indenture" and, together with the 2019 Base Indenture, the "2020 Indenture"), each between the Company and U.S. Bank National Association, as trustee (the "Trustee"). The Debentures bear interest at an annual rate of 5.125%, payable quarterly in arrears on February 25, May 25, August 25 and November 25 commencing on February 25, 2021. The Debentures mature on November 25, 2060. The Company used the net proceeds from the issuance of the Debentures for general corporate purposes. The Debentures are unsecured and rank junior to all existing and future senior indebtedness (including the 2025 Notes and 2029 Notes, each as defined below). In addition, the Debentures are structurally subordinated to all existing and future indebtedness and other liabilities of the Company's subsidiaries. The Company may redeem the Debentures: (i) in whole at any time or in part from time to time on or after November 25, 2025, at a redemption price equal to their principal amount plus accrued and unpaid interest to, but excluding, the date of redemption; provided that if the Debentures are not redeemed in whole, at least $25 million aggregate principal amount of the Debentures must remain outstanding after giving effect to such redemption; (ii) in whole, but not in part, at any time prior to November 25, 2025, within 90 days of the occurrence of a "tax event" or a "regulatory capital event" (as such terms are defined in the 2020 Indenture) at a redemption price equal to their principal amount plus accrued and unpaid interest to, but excluding, the date of redemption; or (iii) in whole, but not in part, at any time prior to November 25, 2025, within 90 days of the occurrence of a "rating agency event" (as such term is defined in the 2020 Indenture) at a redemption price equal to 102% of their principal amount plus any accrued and unpaid interest to, but excluding, the date of redemption. The 2020 Indenture contains covenants that will limit the ability of the Company and certain of its subsidiaries to consolidate, merge or sell, lease, transfer or otherwise dispose of its properties and assets substantially as an entirety. An event of default with respect to the Debentures will occur only upon certain events of our bankruptcy, insolvency or receivership (as specified in the 2020 Indenture). 2029 Notes On June 12, 2019, the Company executed the 2019 Base Indenture and the First Supplemental Indenture, dated as of June 12, 2019 (the "2019 Supplemental Indenture" and, together with the 2019 Base Indenture, the "2019 Indenture"), between the Company and the Trustee pursuant to which the Company issued $500.0 million aggregate principal amount of 5.250% Senior Notes due 2029 (the "2029 Notes"). The Company used the net proceeds from the offering of the 2029 Notes to: (i) repay all amounts outstanding under its existing Revolving Credit Agreement (as defined below); (ii) redeem and satisfy and discharge all of its outstanding 4.500% Senior Notes due May 2020 (the "2020 Notes"); and (iii) pay fees and expenses related to the foregoing. The remaining proceeds were used for general corporate purposes. The 2029 Notes mature on May 30, 2029 and interest on the 2029 Notes is payable at 5.250% per annum. Interest on the 2029 Notes is payable semi-annually in cash in arrears on May 30 and November 30 of each year, commencing on November 30, 2019. The 2029 Notes are senior unsecured obligations and rank equally with the Company’s other senior unsecured and unsubordinated debt from time to time outstanding. The 2029 Notes are effectively subordinated to all of the Company’s existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness. The 2029 Notes are structurally subordinated to all existing and future indebtedness and other liabilities of the Company’s subsidiaries. Prior to February 28, 2029, the Company may redeem some or all of the 2029 Notes at any time or from time to time at a "make-whole" redemption price plus accrued and unpaid interest to, but not including, the redemption date. On and after February 28, 2029, the Company may redeem some or all of the 2029 Notes at any time or from time to time at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date. Upon the occurrence of a Change of Control Repurchase Event (as defined in the 2019 Indenture), the Company will be required to make an offer to repurchase the 2029 Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of repurchase. In the event that the 2029 Notes receive investment grade credit ratings, this covenant will cease to apply. The 2019 Indenture contains covenants that restrict the Company’s ability, with certain exceptions, to: • create liens; • issue, sell, transfer or otherwise dispose of any shares of capital stock of any Insurance Subsidiary (as defined in the 2019 Indenture); and • consolidate or merge with or into other companies or transfer all or substantially all of the Company’s assets. The 2019 Indenture provides for customary events of default (subject in certain cases to customary grace and cure periods), which include nonpayment, breach of covenants in the 2019 Indenture, failure to pay at maturity or acceleration of other indebtedness, a failure to pay certain judgments and certain events of bankruptcy and insolvency. Generally, if an event of default occurs, the Trustee or holders of at least 50% in principal amount of the then outstanding 2029 Notes may declare the principal of and accrued but unpaid interest, including any additional interest, on all of the 2029 Notes to be due and payable. 2025 Notes On May 19, 2015, the Company executed the Indenture, dated as of May 19, 2015 (the "2015 Base Indenture") and the First Supplemental Indenture, dated as of May 19, 2015 (the "2015 Supplemental Indenture" and, together with the 2015 Base Indenture, the "2015 Indenture"), between the Company and the Trustee pursuant to which the Company issued $325.0 million aggregate principal amount of the 2020 Notes and $500.0 million aggregate principal amount of 5.250% Senior Notes due 2025 (the "2025 Notes"). As described above, the 2020 Notes were redeemed on June 12, 2019. The 2025 Notes mature on May 30, 2025. Interest on the 2025 Notes is payable at 5.250% per annum. Interest on the 2025 Notes is payable semi-annually in cash in arrears on May 30 and November 30 of each year, commencing on November 30, 2015. The 2025 Notes are senior unsecured obligations and rank equally with the Company's other senior unsecured and unsubordinated debt from time to time outstanding, including obligations under the Revolving Credit Agreement (as defined below). The 2025 Notes are effectively subordinated to all of the Company's existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness. The 2025 Notes are structurally subordinated to all existing and future indebtedness and other liabilities of the Company's subsidiaries. Prior to February 28, 2025, the Company may redeem some or all of the 2025 Notes at any time or from time to time at a "make-whole" redemption price plus accrued and unpaid interest to, but not including, the redemption date. On and after February 28, 2025, the Company may redeem some or all of the 2025 Notes at any time or from time to time at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date. Upon the occurrence of a Change of Control Repurchase Event (as defined in the 2015 Indenture), the Company will be required to make an offer to repurchase the 2025 Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of repurchase. The 2015 Indenture contains covenants that restrict the Company’s ability, with certain exceptions, to: • incur certain subsidiary indebtedness without also guaranteeing the 2025 Notes; • create liens; • enter into sale and leaseback transactions; • issue, sell, transfer or otherwise dispose of any shares of capital stock of any Insurance Subsidiary (as defined in the 2015 Indenture); and • consolidate or merge with or into other companies or transfer all or substantially all of the Company’s assets. The 2015 Indenture provides for customary events of default (subject in certain cases to customary grace and cure periods), which include nonpayment, breach of covenants in the 2015 Indenture, failure to pay at maturity or acceleration of other indebtedness, a failure to pay certain judgments and certain events of bankruptcy and insolvency. Generally, if an event of default occurs, the Trustee or holders of at least 25% in principal amount of the then outstanding 2025 Notes may declare the principal of and accrued but unpaid interest, including any additional interest, on all of the 2025 Notes to be due and payable. Revolving Credit Agreement On May 19, 2015, the Company entered into a $150.0 million four-year unsecured revolving credit agreement with KeyBank National Association, as administrative agent (the "Agent"), and the lenders from time to time party thereto. On May 19, 2015, the Company made an initial drawing of $100.0 million under the Revolving Credit Agreement. On October 13, 2017, the Company entered into an amendment and restatement agreement (the "Amendment Agreement") with respect to its revolving credit agreement (as amended by the Amendment Agreement and the Second Amendment Agreement (as described below), the "Revolving Credit Agreement"). The Amendment Agreement, among other things, increased the total commitments available under the revolving credit facility from $150.0 million to $250.0 million, increased the aggregate amount of additional incremental loans the Company may incur from $50.0 million to $100.0 million and extended the maturity date of the revolving credit facility from May 19, 2019 to October 13, 2022 (which was further extended in July 2021 as described below). As described above, all amounts outstanding under the Revolving Credit Agreement were repaid in connection with the issuance of the 2029 Notes. On July 16, 2021, the Company entered into a second amendment and restatement agreement (the "Second Amendment Agreement") with respect to its Revolving Credit Agreement. The Second Amendment Agreement, among other things, (i) revises the debt to total capitalization ratio to exclude hybrid securities from the calculation, except to the extent that the aggregate amount outstanding of all such hybrid securities exceeds an amount equal to 15% of total capitalization, (ii) reduces the net equity proceeds prong of the minimum consolidated net worth covenant from 50% to 25%, (iii) removes the aggregate RBC ratio covenant and (iv) extends the maturity date of the revolving credit facility to July 16, 2026. The Second Amendment Agreement continues to contain certain other restrictive covenants with which the Company must comply. The Second Amendment Agreement includes updated LIBOR fallback provisions. The Revolving Credit Agreement includes an uncommitted subfacility for swingline loans of up to $5.0 million, and up to $5.0 million of the Revolving Credit Agreement is available for the issuance of letters of credit. The Company may incur additional incremental loans under the Revolving Credit Agreement in an aggregate principal amount of up to $100.0 million provided that there are no events of default and subject to certain other terms and conditions including the delivery of certain documentation. The interest rates with respect to loans under the Revolving Credit Agreement are based on, at the Company's option, a floating base rate (defined as a per annum rate equal to the highest of: (i) the federal funds rate plus 0.50%; (ii) the "prime rate" of the Agent; and (iii) the eurodollar rate for a one-month interest period plus an applicable margin based on the Company's unsecured debt rating), or a eurodollar rate plus an applicable margin based on the Company's unsecured debt rating. The margins under the Revolving Credit Agreement range from 1.375 percent to 2.125 percent, in the case of loans at the eurodollar rate, and 0.375 percent to 1.125 percent, in the case of loans at the base rate. In addition, the daily average undrawn portion of the Revolving Credit Agreement accrues a commitment fee payable quarterly in arrears. The applicable margin for, and the commitment fee applicable to, the Revolving Credit Agreement, will be adjusted from time to time pursuant to a ratings based pricing grid. The Revolving Credit Agreement contains certain financial, affirmative and negative covenants. The negative covenants in the Revolving Credit Agreement include restrictions that relate to, among other things and subject to customary baskets, exceptions and limitations for facilities of this type: • subsidiary debt; • liens; • restrictive agreements; • restricted payments during the continuance of an event of default; • disposition of assets and sale and leaseback transactions; • transactions with affiliates; • change in business; • fundamental changes; • modification of certain agreements; and • changes to fiscal year. The Revolving Credit Agreement requires the Company to maintain (each as calculated in accordance with the Revolving Credit Agreement): (i) a debt to total capitalization ratio (excluding hybrid securities, except to the extent that the aggregate amount outstanding of all such hybrid securities exceeds an amount equal to 15% of total capitalization) of not more than 35.0 percent (such ratio was 21.6 percent at December 31, 2022); and (ii) a minimum consolidated net worth of not less than the sum of (x) $2,674 million plus (y) 25.0% of the net equity proceeds received by the Company from the issuance and sale of equity interests in the Company (the Company's consolidated net worth was $3,493.9 million at December 31, 2022 compared to the minimum requirement of $2,694.4 million). The Revolving Credit Agreement provides for customary events of default (subject in certain cases to customary grace and cure periods), which include, without limitation, the following: • non-payment; • breach of representations, warranties or covenants; • cross-default and cross-acceleration; • bankruptcy and insolvency events; • judgment defaults; • actual or asserted invalidity of documentation with respect to the Revolving Credit Agreement; • change of control; and • customary ERISA defaults. If an event of default under the Revolving Credit Agreement occurs and is continuing, the Agent may accelerate the amounts and terminate all commitments outstanding under the Revolving Credit Agreement. Scheduled Repayment of our Direct Corporate Obligations The scheduled repayment of our direct corporate obligations was as follows at December 31, 2022 (dollars in millions): Year ending December 31, 2023 $ — 2024 — 2025 500.0 2026 — 2027 — Thereafter 650.0 $ 1,150.0

LITIGATION AND OTHER LEGAL PROC

LITIGATION AND OTHER LEGAL PROCEEDINGS	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
LITIGATION AND OTHER LEGAL PROCEEDINGS	LITIGATION AND OTHER LEGAL PROCEEDINGS Legal Proceedings The Company and its subsidiaries are involved in various legal actions in the normal course of business, in which claims for compensatory and punitive damages are asserted, some for substantial amounts. We recognize an estimated loss from these loss contingencies when we believe it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Some of the pending matters have been filed as purported class actions and some actions have been filed in certain jurisdictions that permit punitive damage awards that are disproportionate to the actual damages incurred. The amounts sought in certain of these actions are often large or indeterminate and the ultimate outcome of certain actions is difficult to predict. In the event of an adverse outcome in one or more of these matters, there is a possibility that the ultimate liability may be in excess of the liabilities we have established and could have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, the resolution of pending or future litigation may involve modifications to the terms of outstanding insurance policies or could impact the timing and amount of rate increases, which could adversely affect the future profitability of the related insurance policies. Based upon information presently available, and in light of legal, factual and other defenses available to the Company and its subsidiaries, the Company does not believe that it is probable that the ultimate liability from either pending or threatened legal actions, after consideration of existing loss provisions, will have a material adverse effect on the Company's consolidated financial condition, operating results or cash flows. However, given the inherent difficulty in predicting the outcome of legal proceedings, there exists the possibility that such legal actions could have a material adverse effect on the Company's consolidated financial condition, operating results or cash flows. In addition to the inherent difficulty of predicting litigation outcomes, particularly those that will be decided by a jury, some matters purport to seek substantial or an unspecified amount of damages for unsubstantiated conduct spanning several years based on complex legal theories and damages models. The alleged damages typically are indeterminate or not factually supported in the complaint, and, in any event, the Company's experience indicates that monetary demands for damages often bear little relation to the ultimate loss. In some cases, plaintiffs are seeking to certify classes in the litigation and class certification either has been denied or is pending and we have filed oppositions to class certification or sought to decertify a prior class certification. In addition, for many of these cases: (i) there is uncertainty as to the outcome of pending appeals or motions; (ii) there are significant factual issues to be resolved; and/or (iii) there are novel legal issues presented. Accordingly, the Company cannot reasonably estimate the possible loss or range of loss in excess of amounts accrued, if any, or predict the timing of the eventual resolution of these matters. The Company reviews these matters on an ongoing basis. When assessing reasonably possible and probable outcomes, the Company bases its assessment on the expected ultimate outcome following all appeals. On April 9, 2019, Bankers Conseco Life Insurance Company ("BCLIC") and Washington National commenced an action entitled Bankers Conseco Life Insurance Company and Washington National Insurance Company v. Wilmington Trust, National Association , in the Supreme Court of the State of New York, County of New York, Commercial Division (the "Wilmington Action"). BCLIC and Washington National seek an unspecified amount of damages, costs, attorney's fees, and other relief as the court deems appropriate. In the Wilmington Action, BCLIC and Washington National assert claims against Wilmington Trust, National Association ("Wilmington") for breaching its express contractual obligations under four trust agreements pursuant to which Wilmington was the trustee in regard to trust assets ceded as part of reinsurance agreements with Beechwood Re Ltd. ("BRe"), as well as for breaching its fiduciary duties to BCLIC and Washington National. The Court granted Wilmington's motion to dismiss this litigation. BCLIC and Washington National appealed the Court's decision. On April 20, 2021, the New York Appellate Division of the Supreme Court, First Judicial Department unanimously reversed the trial court and reinstated breach of contract and breach of fiduciary duty claims against Wilmington. The Wilmington Action is currently pending in the Supreme Court of the State of New York, County of New York, Commercial Division. On June 7, 2019, the Joint Official Liquidators of Platinum Partners Value Arbitrage Fund L.P. (in Official Liquidation) and Principal Growth Strategies, LLC, commenced suit against, among others, CNO Financial Group, Inc., BCLIC, Washington National and 40|86 Advisors, Inc. (collectively, the "CNO Parties") in Delaware Chancery Court. Plaintiffs seek an unspecified amount of damages, costs, attorney's fees, and other relief as the court deems appropriate. Plaintiffs allege that the CNO Parties were unjustly enriched when they terminated BCLIC and Washington National's reinsurance agreements with BRe and recaptured assets from reinsurance trusts, in particular, Agera securities. Plaintiffs contend that the Agera securities were fraudulently transferred to the reinsurance trusts by other Platinum-related entities and they are seeking to claw back those Agera securities, or the value of those assets, from the CNO Parties. The CNO Parties are vigorously contesting the plaintiff's claims. The CNO Parties had removed the case to the United States District Court for the District of Delaware but on April 6, 2020, the District Court granted the plaintiff's motion to remand the case back to the Delaware Chancery Court. Plaintiffs have filed an Amended Complaint and the CNO Parties have moved to dismiss the Amended Complaint. The Delaware Chancery Court denied the CNO Parties’ motions to dismiss the Amended Complaint on the basis of forum non conveniens, but granted the CNO Parties’ motion to stay the case pending the conclusion of a related matter. After the stay is lifted, the court will address the CNO Parties’ and other defendants’ motions to dismiss the Amended Complaint on numerous other grounds. On June 28, 2019, BCLIC and Washington National commenced an action entitled Bankers Conseco Life Insurance Company and Washington National Insurance Company v. KPMG LLP , in the Supreme Court of the State of New York, County of New York, Commercial Division (the "KPMG Action"). BCLIC and Washington National seek an unspecified amount of damages, costs, attorney's fees, and other relief as the court deems appropriate. In the KPMG Action, BCLIC and Washington National assert claims against KPMG LLP ("KPMG") for aiding and abetting fraud, constructive fraud and negligent misrepresentation arising from KPMG's alleged role in the Platinum Partners' scheme to defraud BCLIC and Washington National into reinsuring its long-term care business with BRe. The Court granted KPMG’s motion to dismiss this litigation. BCLIC and Washington National appealed the Court's decision. On December 1, 2020, the New York Appellate Division of the Supreme Court, First Judicial Department unanimously reversed the trial court and reinstated the aiding and abetting claim against KPMG. The KPMG Action is currently pending in the Supreme Court of the State of New York, County of New York, Commercial Division. On October 5, 2012, plaintiffs William Jeffrey Burnett and Joe H. Camp commenced an action entitled Burnett v. Conseco Life Ins. Co. against, among others, CNO Financial Group, Inc. and CNO Services, LLC (collectively, the "CNO Entities") in the United States District Court for the Central District of California on behalf of a putative class of former interest-sensitive whole life insurance policyholders who surrendered their policies or let them lapse. Plaintiffs' First Amended Complaint alleges that the CNO Entities are liable under an alter ego theory for Conseco Life Insurance Company's purported breach of the Optional Premium Payment Provision of plaintiffs' insurance policies. In January 2018, the case was transferred to the Southern District of Indiana. On August 17, 2020, the Court denied the CNO Entities' motions to dismiss. On January 13, 2021, the Court granted final approval of a class action settlement between plaintiffs and co-defendant Conseco Life Insurance Company (n/k/a Wilco Life Insurance Company). The case remains pending against the CNO Entities. On March 25, 2022, the Court certified a Rule 23(b)(3) class of under 2,000 policyholders who invoked the policy's Optional Premium Payment prior to October 2008 and who surrendered between October 7, 2008 and September 1, 2011. The Court's certification order acknowledged the existence of individualized issues of causation and damages, which the court stated could be addressed in individualized proceedings following a class trial on the alter ego allegations and the meaning of the subject insurance policy language. The CNO Entities continue to vigorously defend the case. Regulatory Examinations and Fines Insurance companies face significant risks related to regulatory investigations and actions. Regulatory investigations generally result from matters related to sales or underwriting practices, payment of contingent or other sales commissions, claim payments and procedures, product design, product disclosure, additional premium charges for premiums paid on a periodic basis, denial or delay of benefits, charging excessive or impermissible fees on products, procedures related to canceling policies, changing the way cost of insurance charges are calculated for certain life insurance products or recommending unsuitable products to customers. We are, in the ordinary course of our business, subject to various examinations, inquiries and information requests from state, federal and other authorities. The ultimate outcome of these regulatory actions (including the costs of complying with information requests and policy reviews) cannot be predicted with certainty. In the event of an unfavorable outcome in one or more of these matters, the ultimate liability may be in excess of liabilities we have established and we could suffer significant reputational harm as a result of these matters, which could also have a material adverse effect on our business, financial condition, results of operations or cash flows. In August 2011, we were notified of an examination to be done on behalf of a number of states for the purpose of determining compliance with unclaimed property laws by the Company and its subsidiaries. Such examination included inquiries related to the use of data available on the U.S. Social Security Administration's Death Master File ("SSADMF") to identify instances where benefits under life insurance policies, annuities and retained asset accounts are payable. We provided information to the examiners in response to their requests. A total of 42 states and the District of Columbia participated in this examination. In November 2018, we entered into an agreement for compliance with laws and regulations concerning the identification, reporting and escheatment of unclaimed contract benefits or abandoned funds (the "Global Resolution Agreement"). Under the terms of the Global Resolution Agreement, a third-party auditor acting on behalf of the signatory jurisdictions compared expanded matching criteria to the SSADMF to identify deceased insureds and contract holders where a valid claim has not been made. In May 2022, we received written notification that the exam is closed. Guaranty Fund Assessments The balance sheet at December 31, 2022, included: (i) accruals of $6.2 million, representing our estimate of all known assessments that will be levied against the Company's insurance subsidiaries by various state guaranty associations based on premiums written through December 31, 2022; and (ii) receivables of $10.6 million that we estimate will be recovered through a reduction in future premium taxes as a result of such assessments. At December 31, 2021, such guaranty fund assessment accruals were $6.8 million and such receivables were $12.6 million. These estimates are subject to change when the associations determine more precisely the losses that have occurred and how such losses will be allocated among the insurance companies. We recognized expense for such assessments of $2.1 million, $2.7 million and $2.9 million in 2022, 2021 and 2020, respectively. Guarantees In accordance with the terms of the employment agreements of two of the Company's former chief executive officers, certain wholly-owned subsidiaries of the Company are the guarantors of the former executives' nonqualified supplemental retirement benefits. The liability for such benefits was $20.5 million and $21.2 million at December 31, 2022 and 2021, respectively, and is included in the caption "Other liabilities" in the consolidated balance sheet. Leases and Certain Other Long-Term Commitments The Company rents office space, equipment and computer software under contractual commitments or noncancellable operating lease agreements. Total expense pursuant to these agreements was $86.4 million, $76.3 million and $74.9 million in 2022, 2021 and 2020, respectively. The Company rents office space for certain administrative operations under an agreement that expires in 2023. We lease sales offices in various states which are generally short-term in length with remaining lease terms expiring between 2023 and 2028. Many leases include an option to extend or renew the lease term. The exercise of the renewal option is at the Company's discretion. The operating lease liability includes lease payments related to options to extend or renew the lease term only if the Company is reasonably certain of exercising those options. In determining the present value of lease payments, the Company uses its incremental borrowing rate for borrowings secured by collateral commensurate with the terms of the underlying lease. Information related to our right of use assets are as follows (dollars in millions): 2022 2021 Operating lease expense $ 24.3 $ 24.6 Cash paid for operating lease liability 25.5 25.7 Right of use assets obtained in exchange for lease liabilities (non-cash transactions) 21.7 17.3 Total right of use assets 46.6 48.2 Maturities of our operating lease liabilities as of December 31, 2022 are as follows (dollars in millions): 2023 $ 22.4 2024 13.5 2025 8.1 2026 4.8 2027 1.9 Thereafter .6 Total undiscounted lease payments 51.3 Less interest (1.7) Present value of lease liabilities $ 49.6 Weighted average remaining lease term (in years) 3.0 Weighted average discount rate 2.30 %
LITIGATION AND OTHER LEGAL PROCEEDINGS	LITIGATION AND OTHER LEGAL PROCEEDINGS Legal Proceedings The Company and its subsidiaries are involved in various legal actions in the normal course of business, in which claims for compensatory and punitive damages are asserted, some for substantial amounts. We recognize an estimated loss from these loss contingencies when we believe it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Some of the pending matters have been filed as purported class actions and some actions have been filed in certain jurisdictions that permit punitive damage awards that are disproportionate to the actual damages incurred. The amounts sought in certain of these actions are often large or indeterminate and the ultimate outcome of certain actions is difficult to predict. In the event of an adverse outcome in one or more of these matters, there is a possibility that the ultimate liability may be in excess of the liabilities we have established and could have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, the resolution of pending or future litigation may involve modifications to the terms of outstanding insurance policies or could impact the timing and amount of rate increases, which could adversely affect the future profitability of the related insurance policies. Based upon information presently available, and in light of legal, factual and other defenses available to the Company and its subsidiaries, the Company does not believe that it is probable that the ultimate liability from either pending or threatened legal actions, after consideration of existing loss provisions, will have a material adverse effect on the Company's consolidated financial condition, operating results or cash flows. However, given the inherent difficulty in predicting the outcome of legal proceedings, there exists the possibility that such legal actions could have a material adverse effect on the Company's consolidated financial condition, operating results or cash flows. In addition to the inherent difficulty of predicting litigation outcomes, particularly those that will be decided by a jury, some matters purport to seek substantial or an unspecified amount of damages for unsubstantiated conduct spanning several years based on complex legal theories and damages models. The alleged damages typically are indeterminate or not factually supported in the complaint, and, in any event, the Company's experience indicates that monetary demands for damages often bear little relation to the ultimate loss. In some cases, plaintiffs are seeking to certify classes in the litigation and class certification either has been denied or is pending and we have filed oppositions to class certification or sought to decertify a prior class certification. In addition, for many of these cases: (i) there is uncertainty as to the outcome of pending appeals or motions; (ii) there are significant factual issues to be resolved; and/or (iii) there are novel legal issues presented. Accordingly, the Company cannot reasonably estimate the possible loss or range of loss in excess of amounts accrued, if any, or predict the timing of the eventual resolution of these matters. The Company reviews these matters on an ongoing basis. When assessing reasonably possible and probable outcomes, the Company bases its assessment on the expected ultimate outcome following all appeals. On April 9, 2019, Bankers Conseco Life Insurance Company ("BCLIC") and Washington National commenced an action entitled Bankers Conseco Life Insurance Company and Washington National Insurance Company v. Wilmington Trust, National Association , in the Supreme Court of the State of New York, County of New York, Commercial Division (the "Wilmington Action"). BCLIC and Washington National seek an unspecified amount of damages, costs, attorney's fees, and other relief as the court deems appropriate. In the Wilmington Action, BCLIC and Washington National assert claims against Wilmington Trust, National Association ("Wilmington") for breaching its express contractual obligations under four trust agreements pursuant to which Wilmington was the trustee in regard to trust assets ceded as part of reinsurance agreements with Beechwood Re Ltd. ("BRe"), as well as for breaching its fiduciary duties to BCLIC and Washington National. The Court granted Wilmington's motion to dismiss this litigation. BCLIC and Washington National appealed the Court's decision. On April 20, 2021, the New York Appellate Division of the Supreme Court, First Judicial Department unanimously reversed the trial court and reinstated breach of contract and breach of fiduciary duty claims against Wilmington. The Wilmington Action is currently pending in the Supreme Court of the State of New York, County of New York, Commercial Division. On June 7, 2019, the Joint Official Liquidators of Platinum Partners Value Arbitrage Fund L.P. (in Official Liquidation) and Principal Growth Strategies, LLC, commenced suit against, among others, CNO Financial Group, Inc., BCLIC, Washington National and 40|86 Advisors, Inc. (collectively, the "CNO Parties") in Delaware Chancery Court. Plaintiffs seek an unspecified amount of damages, costs, attorney's fees, and other relief as the court deems appropriate. Plaintiffs allege that the CNO Parties were unjustly enriched when they terminated BCLIC and Washington National's reinsurance agreements with BRe and recaptured assets from reinsurance trusts, in particular, Agera securities. Plaintiffs contend that the Agera securities were fraudulently transferred to the reinsurance trusts by other Platinum-related entities and they are seeking to claw back those Agera securities, or the value of those assets, from the CNO Parties. The CNO Parties are vigorously contesting the plaintiff's claims. The CNO Parties had removed the case to the United States District Court for the District of Delaware but on April 6, 2020, the District Court granted the plaintiff's motion to remand the case back to the Delaware Chancery Court. Plaintiffs have filed an Amended Complaint and the CNO Parties have moved to dismiss the Amended Complaint. The Delaware Chancery Court denied the CNO Parties’ motions to dismiss the Amended Complaint on the basis of forum non conveniens, but granted the CNO Parties’ motion to stay the case pending the conclusion of a related matter. After the stay is lifted, the court will address the CNO Parties’ and other defendants’ motions to dismiss the Amended Complaint on numerous other grounds. On June 28, 2019, BCLIC and Washington National commenced an action entitled Bankers Conseco Life Insurance Company and Washington National Insurance Company v. KPMG LLP , in the Supreme Court of the State of New York, County of New York, Commercial Division (the "KPMG Action"). BCLIC and Washington National seek an unspecified amount of damages, costs, attorney's fees, and other relief as the court deems appropriate. In the KPMG Action, BCLIC and Washington National assert claims against KPMG LLP ("KPMG") for aiding and abetting fraud, constructive fraud and negligent misrepresentation arising from KPMG's alleged role in the Platinum Partners' scheme to defraud BCLIC and Washington National into reinsuring its long-term care business with BRe. The Court granted KPMG’s motion to dismiss this litigation. BCLIC and Washington National appealed the Court's decision. On December 1, 2020, the New York Appellate Division of the Supreme Court, First Judicial Department unanimously reversed the trial court and reinstated the aiding and abetting claim against KPMG. The KPMG Action is currently pending in the Supreme Court of the State of New York, County of New York, Commercial Division. On October 5, 2012, plaintiffs William Jeffrey Burnett and Joe H. Camp commenced an action entitled Burnett v. Conseco Life Ins. Co. against, among others, CNO Financial Group, Inc. and CNO Services, LLC (collectively, the "CNO Entities") in the United States District Court for the Central District of California on behalf of a putative class of former interest-sensitive whole life insurance policyholders who surrendered their policies or let them lapse. Plaintiffs' First Amended Complaint alleges that the CNO Entities are liable under an alter ego theory for Conseco Life Insurance Company's purported breach of the Optional Premium Payment Provision of plaintiffs' insurance policies. In January 2018, the case was transferred to the Southern District of Indiana. On August 17, 2020, the Court denied the CNO Entities' motions to dismiss. On January 13, 2021, the Court granted final approval of a class action settlement between plaintiffs and co-defendant Conseco Life Insurance Company (n/k/a Wilco Life Insurance Company). The case remains pending against the CNO Entities. On March 25, 2022, the Court certified a Rule 23(b)(3) class of under 2,000 policyholders who invoked the policy's Optional Premium Payment prior to October 2008 and who surrendered between October 7, 2008 and September 1, 2011. The Court's certification order acknowledged the existence of individualized issues of causation and damages, which the court stated could be addressed in individualized proceedings following a class trial on the alter ego allegations and the meaning of the subject insurance policy language. The CNO Entities continue to vigorously defend the case. Regulatory Examinations and Fines Insurance companies face significant risks related to regulatory investigations and actions. Regulatory investigations generally result from matters related to sales or underwriting practices, payment of contingent or other sales commissions, claim payments and procedures, product design, product disclosure, additional premium charges for premiums paid on a periodic basis, denial or delay of benefits, charging excessive or impermissible fees on products, procedures related to canceling policies, changing the way cost of insurance charges are calculated for certain life insurance products or recommending unsuitable products to customers. We are, in the ordinary course of our business, subject to various examinations, inquiries and information requests from state, federal and other authorities. The ultimate outcome of these regulatory actions (including the costs of complying with information requests and policy reviews) cannot be predicted with certainty. In the event of an unfavorable outcome in one or more of these matters, the ultimate liability may be in excess of liabilities we have established and we could suffer significant reputational harm as a result of these matters, which could also have a material adverse effect on our business, financial condition, results of operations or cash flows. In August 2011, we were notified of an examination to be done on behalf of a number of states for the purpose of determining compliance with unclaimed property laws by the Company and its subsidiaries. Such examination included inquiries related to the use of data available on the U.S. Social Security Administration's Death Master File ("SSADMF") to identify instances where benefits under life insurance policies, annuities and retained asset accounts are payable. We provided information to the examiners in response to their requests. A total of 42 states and the District of Columbia participated in this examination. In November 2018, we entered into an agreement for compliance with laws and regulations concerning the identification, reporting and escheatment of unclaimed contract benefits or abandoned funds (the "Global Resolution Agreement"). Under the terms of the Global Resolution Agreement, a third-party auditor acting on behalf of the signatory jurisdictions compared expanded matching criteria to the SSADMF to identify deceased insureds and contract holders where a valid claim has not been made. In May 2022, we received written notification that the exam is closed. Guaranty Fund Assessments The balance sheet at December 31, 2022, included: (i) accruals of $6.2 million, representing our estimate of all known assessments that will be levied against the Company's insurance subsidiaries by various state guaranty associations based on premiums written through December 31, 2022; and (ii) receivables of $10.6 million that we estimate will be recovered through a reduction in future premium taxes as a result of such assessments. At December 31, 2021, such guaranty fund assessment accruals were $6.8 million and such receivables were $12.6 million. These estimates are subject to change when the associations determine more precisely the losses that have occurred and how such losses will be allocated among the insurance companies. We recognized expense for such assessments of $2.1 million, $2.7 million and $2.9 million in 2022, 2021 and 2020, respectively. Guarantees In accordance with the terms of the employment agreements of two of the Company's former chief executive officers, certain wholly-owned subsidiaries of the Company are the guarantors of the former executives' nonqualified supplemental retirement benefits. The liability for such benefits was $20.5 million and $21.2 million at December 31, 2022 and 2021, respectively, and is included in the caption "Other liabilities" in the consolidated balance sheet. Leases and Certain Other Long-Term Commitments The Company rents office space, equipment and computer software under contractual commitments or noncancellable operating lease agreements. Total expense pursuant to these agreements was $86.4 million, $76.3 million and $74.9 million in 2022, 2021 and 2020, respectively. The Company rents office space for certain administrative operations under an agreement that expires in 2023. We lease sales offices in various states which are generally short-term in length with remaining lease terms expiring between 2023 and 2028. Many leases include an option to extend or renew the lease term. The exercise of the renewal option is at the Company's discretion. The operating lease liability includes lease payments related to options to extend or renew the lease term only if the Company is reasonably certain of exercising those options. In determining the present value of lease payments, the Company uses its incremental borrowing rate for borrowings secured by collateral commensurate with the terms of the underlying lease. Information related to our right of use assets are as follows (dollars in millions): 2022 2021 Operating lease expense $ 24.3 $ 24.6 Cash paid for operating lease liability 25.5 25.7 Right of use assets obtained in exchange for lease liabilities (non-cash transactions) 21.7 17.3 Total right of use assets 46.6 48.2 Maturities of our operating lease liabilities as of December 31, 2022 are as follows (dollars in millions): 2023 $ 22.4 2024 13.5 2025 8.1 2026 4.8 2027 1.9 Thereafter .6 Total undiscounted lease payments 51.3 Less interest (1.7) Present value of lease liabilities $ 49.6 Weighted average remaining lease term (in years) 3.0 Weighted average discount rate 2.30 %

AGENT DEFERRED COMPENSATION PLA

AGENT DEFERRED COMPENSATION PLAN	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
AGENT DEFERRED COMPENSATION PLAN	AGENT DEFERRED COMPENSATION PLAN For our agent deferred compensation plan, it is our policy to immediately recognize changes in the actuarial benefit obligation resulting from either actual experience being different than expected or from changes in actuarial assumptions. One of our insurance subsidiaries has a noncontributory, unfunded deferred compensation plan for qualifying members of its exclusive agency force. Benefits were based on years of service and career earnings. In 2016, the agent deferred compensation plan was amended to: (i) freeze participation in the plan; (ii) freeze benefits accrued under the plan; and (iii) add a limited cashout feature. The actuarial measurement date of this deferred compensation plan is December 31. The liability recognized in the consolidated balance sheet for the agent deferred compensation plan was $128.8 million and $179.9 million at December 31, 2022 and 2021, respectively. Expenses incurred on this plan were $(42.8) million, $(2.6) million and $22.8 million during 2022, 2021 and 2020, respectively (including the recognition of gains (losses) of $48.9 million, $8.9 million and $(16.3) million in 2022, 2021 and 2020, respectively, primarily resulting from: (i) changes in the discount rate assumption used to determine the deferred compensation plan liability to reflect current investment yields; and (ii) changes in mortality table assumptions. We purchased COLI as an investment vehicle to fund the agent deferred compensation plan. The COLI assets are not assets of the agent deferred compensation plan, and as a result, are accounted for outside the plan and are recorded in the consolidated balance sheet as other invested assets. The carrying value of the COLI assets was $199.1 million and $207.0 million at December 31, 2022 and 2021, respectively. Death benefits related to COLI and changes in the cash surrender value (which approximates net realizable value) of the COLI assets are recorded as net investment income (loss) on special-purpose portfolios and totaled $(4.4) million, $(2.7) million and $15.7 million in 2022, 2021 and 2020, respectively. We used the following assumptions for the deferred compensation plan to calculate: 2022 2021 Benefit obligations: Discount rate 5.25 % 2.75 % Net periodic cost: Discount rate 2.75 % 2.50 % The discount rate is based on the yield of a hypothetical portfolio of high quality debt instruments which could effectively settle plan benefits on a present value basis as of the measurement date. The benefits expected to be paid pursuant to our agent deferred compensation plan as of December 31, 2022 were as follows (dollars in millions): 2023 $ 8.1 2024 8.3 2025 8.5 2026 8.9 2027 8.9 2028 - 2032 44.7 One of our insurance subsidiaries has another unfunded nonqualified deferred compensation program for qualifying members of its exclusive agency force. Such agents may defer a certain percentage of their net commissions into the program. In addition, annual Company contributions are made based on the agent's production and vest over a period of five The Company has a qualified defined contribution plan for which substantially all employees are eligible. Company contributions, which match a portion of certain voluntary employee contributions to the plan, totaled $10.3 million, $6.7 million and $6.0 million in 2022, 2021 and 2020, respectively. Employer matching contributions are discretionary.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES Our freestanding and embedded derivatives, which are not designated as hedging instruments, are held at fair value and are summarized as follows (dollars in millions): Fair value 2022 2021 Assets: Other invested assets: Fixed indexed call options $ 56.7 $ 225.0 Other — 2.5 Reinsurance receivables (17.8) (1.7) Total assets $ 38.9 $ 225.8 Liabilities: Policyholder account liabilities: Fixed indexed products $ 1,297.0 $ 1,724.1 Total liabilities $ 1,297.0 $ 1,724.1 We are required to establish an embedded derivative related to a modified coinsurance agreement pursuant to which we assume the risks of a block of health insurance business. The embedded derivative represents the mark-to-market adjustment for approximately $92 million in underlying investments held by the ceding reinsurer at December 31, 2022. The activity associated with freestanding derivative instruments is measured as either the notional or the number of contracts. The activity associated with the fixed indexed annuity embedded derivatives are shown by the number of policies. The following table represents activity associated with derivative instruments as of the dates indicated: Measurement December 31, 2021 Additions Maturities/terminations December 31, 2022 Fixed indexed annuities - embedded derivative Policies 120,103 13,503 (10,120) 123,486 Fixed indexed call options Notional (a) $ 2,988.9 $ 2,835.7 $ (3,040.3) $ 2,784.3 _________________ (a) Dollars in millions. The following table provides the pre-tax gains (losses) recognized in revenues for derivative instruments, which are not designated as hedges for the periods indicated (dollars in millions): 2022 2021 2020 Net investment income (loss) from policyholder and other special-purpose portfolios: Fixed indexed call options $ (206.6) $ 220.9 $ 39.5 Total investment gains (losses): Embedded derivative related to modified coinsurance agreement (16.1) (3.1) 2.6 Total revenues from derivative instruments, not designed as hedges $ (222.7) $ 217.8 $ 42.1 Derivative Counterparty Risk If the counterparties to the call options fail to meet their obligations, we may recognize a loss. We limit our exposure to such a loss by diversifying among several counterparties believed to be strong and creditworthy. At December 31, 2022, all of our counterparties were rated "A-" or higher by S&P. The Company and its subsidiaries are parties to master netting arrangements with its counterparties related to entering into various derivative contracts. The following table summarizes information related to derivatives with master netting arrangements or collateral as of December 31, 2022 and 2021 (dollars in millions): Gross amounts not offset in the balance sheet Gross amounts recognized Gross amounts offset in the balance sheet Net amounts of assets presented in the balance sheet Financial instruments Cash collateral received Net amount December 31, 2022: Fixed indexed call options $ 56.7 $ — $ 56.7 $ — $ — $ 56.7 December 31, 2021: Fixed indexed call options 225.0 — 225.0 — — 225.0

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY In May 2011, the Company announced a securities repurchase program. In 2022, 2021 and 2020, we repurchased 7.6 million, 16.6 million and 14.5 million shares, respectively, for $180.0 million, $402.4 million and $263.0 million, respectively, under the securities repurchase program. The Company had remaining repurchase authority of $186.9 million as of December 31, 2022. In 2022, 2021 and 2020, dividends declared on common stock totaled $65.0 million ($0.55 per common share), $66.1 million ($0.51 per common share) and $67.4 million ($0.47 per common share), respectively. In May 2022, the Company increased its quarterly common stock dividend to $0.14 per share from $0.13 per share. In May 2021, the Company increased its quarterly common stock dividend to $0.13 per share from $0.12 per share. In May 2020, the Company increased its quarterly common stock dividend to $0.12 per share from $0.11 per share. The Company has a long-term incentive plan which permits the grant of CNO incentive or non-qualified stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance shares or units and certain other equity-based awards to certain directors, officers and employees of the Company and certain other individuals who perform services for the Company (although no grants have been made to such other individuals). As of December 31, 2022, 2021 and 2020, there were 5.6 million shares, 7.8 million shares and 8.8 million shares, respectively, that were available for issuance under the plan. Our stock option awards are generally granted with an exercise price equal to the market price of the Company's stock on the date of grant and a maximum term of ten years. Our stock options granted in 2010 through 2014 generally vest on a graded basis over a three year service term and expire seven years from the date of grant. Our stock options granted in 2015 through 2019 generally vest on a graded basis over a three year service term and expire ten years from the date of grant. In 2018, one grant of 1.6 million of stock options vests on a graded basis over a five year service term and expires ten years from the date of grant. There have been no stock options granted since 2019. The vesting periods for our awards of restricted stock and restricted stock units (collectively "restricted stock") generally range from immediate vesting to a period of three years. A summary of the Company's stock option activity and related information for 2022 is presented below (shares in thousands; dollars in millions, except per share amounts): Shares Weighted average exercise price Weighted average remaining life (in years) Aggregate intrinsic value Outstanding at the beginning of the year 3,411 $ 19.28 Options granted — — Exercised (618) (18.43) $ 3.8 Forfeited or terminated (57) (20.18) Outstanding at the end of the year 2,736 19.45 4.7 $ 15.1 Options exercisable at the end of the year 2,540 4.6 $ 14.1 A summary of the Company's stock option activity and related information for 2021 is presented below (shares in thousands; dollars in millions, except per share amounts): Shares Weighted average exercise price Weighted average remaining life (in years) Aggregate intrinsic value Outstanding at the beginning of the year 4,544 $ 19.01 Options granted — — Exercised (1,023) (18.01) $ 7.8 Forfeited or terminated (110) (19.97) Outstanding at the end of the year 3,411 19.28 5.0 $ 19.2 Options exercisable at the end of the year 2,662 4.6 $ 15.7 A summary of the Company's stock option activity and related information for 2020 is presented below (shares in thousands; dollars in millions, except per share amounts): Shares Weighted average exercise price Weighted average remaining life (in years) Aggregate intrinsic value Outstanding at the beginning of the year 6,015 $ 18.59 Options granted — — Exercised (1,104) (16.59) $ 9.0 Forfeited or terminated (367) (19.40) Outstanding at the end of the year 4,544 19.01 5.6 $ 27.5 Options exercisable at the end of the year 2,946 4.5 $ 19.9 We recognized compensation expense related to stock options totaling $0.9 million ($0.7 million after income taxes) in 2022, $1.6 million ($1.3 million after income taxes) in 2021 and $2.6 million ($2.1 million after income taxes) in 2020. Compensation expense related to stock options reduced both basic and diluted earnings per share by one cent in each of 2022, 2021 and 2020. At December 31, 2022, the unrecognized compensation expense for non-vested stock options totaled $0.3 million which is expected to be recognized over a weighted average period of 0.4 years. Cash received by the Company from the exercise of stock options was $10.4 million, $18.4 million and $16.5 million during 2022, 2021 and 2020, respectively. The following table summarizes information about stock options outstanding at December 31, 2022 (shares in thousands): Options outstanding Options exercisable Range of exercise prices Number outstanding Remaining life (in years) Average exercise price Number exercisable Average exercise price $15.08 - $21.06 2,412 4.7 $ 18.93 2,216 $ 18.80 $23.33 324 4.8 23.33 324 23.33 2,736 2,540 During 2022, 2021 and 2020, the Company granted restricted stock of 0.5 million, 0.4 million and 0.5 million, respectively, to certain directors, officers and employees of the Company at a weighted average fair value of $23.59 per share, $23.53 per share and $18.28 per share, respectively. The fair value of such grants totaled $12.0 million, $10.5 million and $9.5 million in 2022, 2021 and 2020, respectively. Such amounts are recognized as compensation expense over the vesting period of the restricted stock. A summary of the Company's non-vested restricted stock activity for 2022 is presented below (shares in thousands): Shares Weighted average grant date fair value Non-vested shares, beginning of year 975 $ 20.30 Granted 509 23.59 Vested (418) (19.79) Forfeited (43) (23.52) Non-vested shares, end of year 1,023 22.01 At December 31, 2022, the unrecognized compensation expense for non-vested restricted stock totaled $9.8 million which is expected to be recognized over a weighted average period of 1.9 years. At December 31, 2021, the unrecognized compensation expense for non-vested restricted stock totaled $8.7 million. We recognized compensation expense related to restricted stock awards totaling $9.9 million, $9.0 million and $8.7 million in 2022, 2021 and 2020, respectively. The fair value of restricted stock that vested during 2022, 2021 and 2020 was $8.3 million, $8.4 million and $6.8 million, respectively. In 2022, 2021 and 2020, the Company granted performance units totaling 0.4 million, 0.4 million and 0.5 million, respectively, pursuant to its long-term incentive plan to certain officers of the Company. The criteria for payment for such awards are based on certain company-wide performance levels that must be achieved within a specified performance time (generally one A summary of the Company's performance units is presented below (shares in thousands): Total shareholder return awards Operating return on equity awards Operating earnings per share awards Awards outstanding at December 31, 2019 551 551 — Granted in 2020 — 247 247 Additional shares issued pursuant to achieving certain performance criteria (a) — 138 — Shares vested in 2020 — (281) — Forfeited (212) (74) (8) Awards outstanding at December 31, 2020 339 581 239 Granted in 2021 — 209 209 Additional shares issued pursuant to achieving certain performance criteria (a) — 57 — Shares vested in 2021 (81) (178) — Forfeited (55) (34) (23) Awards outstanding at December 31, 2021 203 635 425 Granted in 2022 — 204 204 Additional shares issued pursuant to achieving certain performance criteria (a) 188 186 — Shares vested in 2022 (389) (390) — Forfeited — (24) (25) Awards outstanding at December 31, 2022 2 611 604 _________________________ (a) The performance units that vested in 2020, 2021 and 2022 provided for a payout of up to 200 percent of the award if certain performance levels were achieved. The grant date fair value of the performance units awarded was $10.5 million and $9.9 million in 2022 and 2021, respectively. We recognized compensation expense of $13.8 million, $14.6 million and $12.5 million in 2022, 2021 and 2020, respectively, related to the performance units. As further discussed in the footnote to the consolidated financial statements entitled "Income Taxes", the Company's Board of Directors adopted the Section 382 Rights Agreement in 2009 and has amended and extended the Section 382 Rights Agreement on four occasions. The Section 382 Rights Agreement, as amended, is designed to protect shareholder value by preserving the value of our tax assets primarily associated with NOLs. At the time the Section 382 Rights Agreement was adopted, the Company declared a dividend of one preferred share purchase right (a "Right") for each outstanding share of common stock. The dividend was payable on January 30, 2009, to the shareholders of record as of the close of business on that date and a Right is also attached to each share of CNO common stock issued after that date. Pursuant to the Section 382 Rights Agreement, as amended, each Right entitles the shareholder to purchase from the Company one one thousandth of a share of Series E Junior Participating Preferred Stock, par value $.01 per share (the "Junior Preferred Stock") of the Company at a price of $95.00 per one one-thousandth of a share of Junior Preferred Stock. The description and terms of the Rights are set forth in the Section 382 Rights Agreement, as amended. The Rights would become exercisable in the event any person or group (subject to certain exemptions) becomes an owner of more than 4.99 percent of the outstanding stock of CNO (a "Threshold Holder") without the approval of the Board of Directors or an existing shareholder who is currently a Threshold Holder acquires additional shares exceeding one percent of our outstanding shares without prior approval from the Board of Directors. A reconciliation of net income and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands): 2022 2021 2020 Net income for basic earnings per share $ 396.8 $ 441.0 $ 301.8 Shares: Weighted average shares outstanding for basic earnings per share 115,733 128,400 142,096 Effect of dilutive securities on weighted average shares: Amounts related to employee benefit plans 1,984 2,726 1,068 Weighted average shares outstanding for diluted earnings per share 117,717 131,126 143,164 Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Restricted shares (including our performance units) are not included in basic earnings per share until vested. Diluted earnings per share reflect the potential dilution that could occur if outstanding stock options were exercised and restricted stock was vested. The dilution from options and restricted shares is calculated using the treasury stock method. Under this method, we assume the proceeds from the exercise of the options (or the unrecognized compensation expense with respect to restricted stock and performance units) will be used to purchase shares of our common stock at the average market price during the period, reducing the dilutive effect of the exercise of the options (or the vesting of the restricted stock and performance units).

OTHER OPERATING STATEMENT DATA

OTHER OPERATING STATEMENT DATA	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
OTHER OPERATING STATEMENT DATA	OTHER OPERATING STATEMENT DATA Insurance policy income consisted of the following (dollars in millions): 2022 2021 2020 Direct premiums collected (a) $ 4,619.7 $ 4,457.7 $ 4,176.0 Reinsurance assumed 18.6 20.7 23.0 Reinsurance ceded (214.6) (231.3) (247.8) Premiums collected, net of reinsurance 4,423.7 4,247.1 3,951.2 Change in unearned premiums 9.8 .9 9.2 Less premiums on interest-sensitive life and products without mortality and morbidity risk which are recorded as additions to insurance liabilities (a) (2,123.6) (1,905.2) (1,620.1) Premiums on traditional products with mortality or morbidity risk 2,309.9 2,342.8 2,340.3 Fees and surrender charges on interest-sensitive products 189.9 180.6 171.0 Insurance policy income $ 2,499.8 $ 2,523.4 $ 2,511.3 ________________ (a) Excludes $899.0 million and $499.9 million in 2022 and 2021, respectively, of funds received from the issuance of funding agreements pursuant to our funding agreement-backed note ("FABN") program. The four states with the largest shares of 2022 collected premiums were Florida (11 percent), Pennsylvania (6 percent), Iowa (6 percent) and Texas (5 percent). No other state accounted for more than five percent of total collected premiums. Other operating costs and expenses were as follows (dollars in millions): 2022 2021 2020 Commission expense $ 117.9 $ 116.4 $ 111.8 Salaries and wages 287.9 267.9 252.6 Other 548.8 603.0 577.6 Total other operating costs and expenses $ 954.6 $ 987.3 $ 942.0 Changes in deferred acquisition costs were as follows (dollars in millions): 2022 2021 2020 Balance, beginning of year $ 1,112.0 $ 1,027.8 $ 1,215.5 Additions 332.2 298.8 275.8 Amortization (282.7) (252.4) (233.4) Amounts related to changes in unrealized investment gains (losses) on fixed maturities, available for sale 751.9 37.8 (230.1) Balance, end of year $ 1,913.4 $ 1,112.0 $ 1,027.8 Changes in the present value of future profits were as follows (dollars in millions): 2022 2021 2020 Balance, beginning of year $ 222.6 $ 249.4 $ 275.4 Amortization (26.9) (28.7) (34.7) Amounts related to changes in unrealized investment gains (losses) on fixed maturities, available for sale 16.5 1.9 8.7 Balance, end of year $ 212.2 $ 222.6 $ 249.4 Based on current conditions and assumptions as to future events on all policies inforce, the Company expects to amortize approximately 11 percent of the December 31, 2022 balance of the present value of future profits in 2023, 11 percent in 2024, 9 percent in 2025, 8 percent in 2026 and 7 percent in 2027. The discount rate used to determine the amortization of the present value of future profits averaged approximately 5 percent in the years ended December 31, 2022, 2021 and 2020. In accordance with authoritative guidance, we are required to amortize the present value of future profits in relation to estimated gross profits for interest-sensitive life products and annuity products. Such guidance also requires that estimates of expected gross profits used as a basis for amortization be evaluated regularly, and that the total amortization recorded to date be adjusted by a charge or credit to the statement of operations, if actual experience or other evidence suggests that earlier estimates should be revised.

CONSOLIDATED STATEMENT OF CAS_2

CONSOLIDATED STATEMENT OF CASH FLOWS	12 Months Ended
	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
CONSOLIDATED STATEMENT OF CASH FLOWS	CONSOLIDATED STATEMENT OF CASH FLOWS The following disclosures supplement our consolidated statement of cash flows. The following reconciles net income to net cash provided by operating activities (dollars in millions): 2022 2021 2020 Cash flows from operating activities: Net income $ 396.8 $ 441.0 $ 301.8 Adjustments to reconcile net income to net cash from operating activities: Amortization and depreciation 345.3 319.5 303.9 Income taxes 86.6 146.5 14.1 Insurance liabilities (175.6) 346.2 397.6 Accrual and amortization of investment income 138.7 (347.6) (125.2) Deferral of policy acquisition costs (332.2) (298.8) (275.8) Net investment (gains) losses 135.4 (19.1) 36.2 Other (a) (99.6) 10.6 82.9 Net cash from operating activities $ 495.4 $ 598.3 $ 735.5 _____________ (a) Primarily relates to: (i) changes in other assets and liabilities related to the timing of payments and receipts; and (ii) the change in fair value of the deferred compensation plan liability. Other non-cash items not reflected in the investing and financing activities sections of the consolidated statement of cash flows (dollars in millions): 2022 2021 2020 Stock options, restricted stock and performance units $ 25.2 $ 26.0 $ 24.5

STATUTORY INFORMATION (BASED ON

STATUTORY INFORMATION (BASED ON NON-GAAP MEASURES)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
STATUTORY INFORMATION (BASED ON NON-GAAP MEASURES)	STATUTORY INFORMATION (BASED ON NON-GAAP MEASURES) Statutory accounting practices prescribed or permitted by regulatory authorities for the Company's insurance subsidiaries differ from GAAP. The Company's insurance subsidiaries reported the following amounts to regulatory agencies, after appropriate elimination of intercompany accounts among such subsidiaries (dollars in millions): 2022 2021 Statutory capital and surplus $ 1,849.8 $ 1,799.6 Asset valuation reserve 305.8 332.5 Interest maintenance reserve 395.7 407.9 Total $ 2,551.3 $ 2,540.0 Statutory capital and surplus included investments in upstream affiliates of $42.6 million at both December 31, 2022 and 2021, which were eliminated in the consolidated financial statements prepared in accordance with GAAP. Statutory earnings build the capital required by ratings agencies and regulators. Statutory earnings, fees and interest paid by the insurance companies to the parent company create the "cash flow capacity" the parent company needs to meet its obligations, including debt service. The consolidated statutory net income (a non-GAAP measure) of our insurance subsidiaries was $238.0 million, $277.5 million and $409.6 million in 2022, 2021 and 2020, respectively. In 2020, statutory net operating income and capital and surplus were favorably impacted by $99 million and $53 million, respectively, related to certain provisions in the CARES Act. The favorable impact resulted from provisions that permitted the carryback of net operating losses that were created after 2017 and the temporary repeal of the 80% limitation on the utilization of NOLs created after 2017. Also included in net income were net realized capital losses, net of income taxes, of $25.9 million, $11.2 million and $11.9 million in 2022, 2021 and 2020, respectively. In addition, such net income included pre-tax amounts for fees and interest paid to CNO or its non-life subsidiaries totaling $168.4 million, $164.2 million and $163.8 million in 2022, 2021 and 2020, respectively. Insurance regulators may prohibit the payment of dividends or other payments by our insurance subsidiaries to parent companies if they determine that such payment could be adverse to our policyholders or contract holders. Otherwise, the ability of our insurance subsidiaries to pay dividends is subject to state insurance department regulations. Insurance regulations generally permit dividends to be paid from statutory earned surplus of the insurance company without regulatory approval for any 12-month period in amounts equal to the greater of (or in some states, the lesser of): (i) statutory net gain from operations or statutory net income for the prior year; or (ii) 10 percent of statutory capital and surplus as of the end of the preceding year. However, as each of the immediate insurance subsidiaries of CDOC, Inc. ("CDOC", our wholly owned subsidiary and the immediate parent of Washington National and Conseco Life Insurance Company of Texas ("CLTX")) has negative earned surplus, any dividend payments from the insurance subsidiaries to CNO requires the prior approval of the director or commissioner of the applicable state insurance department. During 2022, our insurance subsidiaries paid dividends of $143.6 million to CDOC. In 2022, CDOC made a capital contribution of $14.6 million to CLTX. The payment of interest on surplus debentures requires either prior written notice or approval of the director or commissioner of the applicable state insurance department. Dividends and other payments from our non-insurance subsidiaries to CNO or CDOC do not require approval by any regulatory authority or other third party. In accordance with an order from the Florida Office of Insurance Regulation, Washington National may not distribute funds to any affiliate or shareholder, except pursuant to agreements that have been approved, without prior notice to the Florida Office of Insurance Regulation. In addition, the risk-based capital ("RBC") and other capital requirements described below can also limit, in certain circumstances, the ability of our insurance subsidiaries to pay dividends. RBC requirements provide a tool for insurance regulators to determine the levels of statutory capital and surplus an insurer must maintain in relation to its insurance and investment risks and the need for possible regulatory attention. The RBC requirements provide four levels of regulatory attention, varying with the ratio of the insurance company's total adjusted capital (defined as the total of its statutory capital and surplus, asset valuation reserve and certain other adjustments) to its RBC (as measured on December 31 of each year) as follows: (i) if a company's total adjusted capital is less than 100 percent but greater than or equal to 75 percent of its RBC, the company must submit a comprehensive plan to the regulatory authority proposing corrective actions aimed at improving its capital position (the "Company Action Level"); (ii) if a company's total adjusted capital is less than 75 percent but greater than or equal to 50 percent of its RBC, the regulatory authority will perform a special examination of the company and issue an order specifying the corrective actions that must be taken; (iii) if a company's total adjusted capital is less than 50 percent but greater than or equal to 35 percent of its RBC, the regulatory authority may take any action it deems necessary, including placing the company under regulatory control; and (iv) if a company's total adjusted capital is less than 35 percent of its RBC, the regulatory authority must place the company under its control. In addition, the RBC requirements provide for a trend test if a company's total adjusted capital is between 100 percent and 150 percent of its RBC at the end of the year. The trend test calculates the greater of the decrease in the margin of total adjusted capital over RBC: (i) between the current year and the prior year; and (ii) for the average of the last 3 years. It assumes that such decrease could occur again in the coming year. Any company whose trended total adjusted capital is less than 95 percent of its RBC would trigger a requirement to submit a comprehensive plan as described above for the Company Action Level. The 2022 statutory annual statements of each of our insurance subsidiaries reflect total adjusted capital in excess of the levels that would subject our subsidiaries to any regulatory action. In addition, although we are under no obligation to do so, we may elect to contribute additional capital or retain greater amounts of capital to strengthen the surplus of certain insurance subsidiaries. Any election to contribute or retain additional capital could impact the amounts our insurance subsidiaries pay as dividends to the holding company. The ability of our insurance subsidiaries to pay dividends is also impacted by various criteria established by rating agencies to maintain or receive higher ratings and by the capital levels that we target for our insurance subsidiaries. We calculate the consolidated RBC ratio by assuming all of the assets, liabilities, capital and surplus and other aspects of the business of our insurance subsidiaries are combined together in one insurance subsidiary, with appropriate intercompany eliminations.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS We view our operations as three insurance product lines (annuity, health and life) and the investment and fee revenue segments. Our segments are aligned based on their common characteristics, comparability of profit margins and the way management makes operating decisions and assesses the performance of the business. Our insurance product line segments (annuity, health and life) include marketing, underwriting and administration of the policies our insurance subsidiaries sell. The business written in each of the three product categories through all of our insurance subsidiaries is aggregated allowing management and investors to assess the performance of each product category. When analyzing profitability of these segments, we use insurance product margin as the measure of profitability, which is: (i) insurance policy income; and (ii) net investment income allocated to the insurance product lines; less (i) insurance policy benefits and interest credited to policyholders; and (ii) amortization, non-deferred commissions and advertising expense. Net investment income is allocated to the product lines using the book yield of investments backing the block of business, which is applied to the average insurance liabilities, net of insurance intangibles, for the block in each period. Income from insurance products is the sum of the insurance margins of the annuity, health and life product lines, less expenses allocated to the insurance lines. It excludes the income from our fee income business, investment income not allocated to product lines, net expenses not allocated to product lines (primarily holding company expenses) and income taxes. Management believes insurance product margin and income from insurance products help provide a better understanding of the business and a more meaningful analysis of the results of our insurance product lines. We market our products through the Consumer and Worksite Divisions that reflect the customers served by the Company. The Consumer Division serves individual consumers, engaging with them on the phone, virtually, online, face-to-face with agents, or through a combination of sales channels. This structure unifies consumer capabilities into a single division and integrates the strength of our agent sales forces with one of the largest direct-to-consumer insurance businesses with proven experience in advertising, web/digital and call center support. The Worksite Division focuses on worksite and group sales for businesses, associations, and other membership groups, interacting with customers at their place of employment and virtually. With a separate Worksite Division, we are bringing a sharper focus to this high-growth business while further capitalizing on the strength of our acquisitions of Web Benefits Design Corporation ("WBD") in April 2019 and DirectPath in February 2021. The Consumer and Worksite Divisions are primarily focused on marketing insurance products, several types of which are sold in both divisions and underwritten in the same manner. Sales of group underwritten policies are currently not significant, but are expected to increase within the Worksite Division. The investment segment involves the management of our capital resources, including investments and the management of corporate debt and liquidity. Our measure of profitability of this segment is the total net investment income not allocated to the insurance products. Investment income not allocated to product lines represents net investment income less: (i) equity returns credited to policyholder account balances; (ii) the investment income allocated to our product lines; (iii) interest expense on notes payable and investment borrowings; (iv) expenses related to the FABN program; and (v) certain expenses related to benefit plans that are offset by special-purpose investment income. Investment income not allocated to product lines includes investment income on investments in excess of amounts allocated to product lines, investments held by our holding companies, the spread we earn from our FHLB investment borrowing and FABN programs and variable components of investment income (including call and prepayment income, adjustments to returns on structured securities due to cash flow changes, income (loss) from COLI and alternative investments income not allocated to product lines), net of interest expense on corporate debt. The spread earned from our FHLB investment borrowing and FABN programs includes the investment income on the matched assets less: (i) interest on investment borrowings related to the FHLB investment borrowing program; (ii) interest credited on funding agreements; and (iii) amortization of deferred acquisition costs related to the FABN program. Our fee income segment includes the earnings generated from sales of third-party insurance products, services provided by WBD (our on-line benefit administration firm), Optavise (a national provider of year-round technology-driven employee benefits management services) and the operations of our broker/dealer and registered investment advisor. Expenses not allocated to product lines include the expenses of our corporate operations, excluding interest expense on debt. We measure segment performance by excluding total investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes related to the agent deferred compensation plan, income taxes and other non-operating items consisting primarily of earnings attributable to VIEs ("pre-tax operating earnings") because we believe that this performance measure is a better indicator of the ongoing business and trends in our business. Our primary investment focus is on investment income to support our liabilities for insurance products as opposed to the generation of investment gains (losses), and a long-term focus is necessary to maintain profitability over the life of the business. Investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes related to the agent deferred compensation plan and other non-operating items consisting primarily of earnings attributable to VIEs depend on market conditions or represent unusual items that do not necessarily relate to the underlying business of our segments. Investment gains (losses) and fair value changes in embedded derivative liabilities (net of related amortization) may affect future earnings levels since our underlying business is long-term in nature and changes in our investment portfolio may impact our ability to earn the assumed interest rates needed to maintain the profitability of our business. Operating information by segment is as follows (dollars in millions): 2022 2021 2020 Revenues: Annuity: Insurance policy income $ 23.1 $ 19.6 $ 18.8 Net investment income 466.8 462.4 465.1 Total annuity revenues 489.9 482.0 483.9 Health: Insurance policy income 1,617.3 1,661.5 1,699.5 Net investment income 287.6 287.7 282.3 Total health revenues 1,904.9 1,949.2 1,981.8 Life: Insurance policy income 859.4 842.3 793.0 Net investment income 146.2 144.7 139.6 Total life revenues 1,005.6 987.0 932.6 Change in market values of the underlying options supporting the fixed indexed annuity and life products (offset by market value changes credited to policyholder balances) (205.3) 219.8 37.8 Investment income not allocated to product lines 272.1 273.3 258.5 Fee revenue and other income: Fee income 169.3 147.6 106.0 Amounts netted in expenses not allocated to product lines 30.5 17.2 6.9 Total segment revenues $ 3,667.0 $ 4,076.1 $ 3,807.5 (continued on next page) (continued from previous page) 2022 2021 2020 Expenses: Annuity: Insurance policy benefits $ 124.3 $ (14.5) $ (93.7) Interest credited 178.1 149.1 170.6 Amortization and non-deferred commissions 26.4 77.1 110.3 Total annuity expenses 328.8 211.7 187.2 Health: Insurance policy benefits 1,241.0 1,266.3 1,329.7 Amortization and non-deferred commissions 186.6 189.9 192.3 Total health expenses 1,427.6 1,456.2 1,522.0 Life: Insurance policy benefits 585.2 613.5 570.0 Interest credited 47.4 44.4 44.5 Amortization, non-deferred commissions and advertising expense 200.1 178.7 153.1 Total life expenses 832.7 836.6 767.6 Allocated expenses 596.6 566.5 557.7 Expenses not allocated to product lines 71.3 95.4 90.7 Market value changes of options credited to fixed indexed annuity and life policyholders (205.3) 219.8 37.8 Amounts netted in investment income not allocated to product lines: Interest expense 96.0 72.2 76.4 Interest credited 28.5 2.2 — Amortization 1.5 .1 — Other expenses (13.4) 16.6 15.0 Expenses netted in fee revenue: Commissions and other operating expenses 145.6 128.2 89.3 Total segment expenses 3,309.9 3,605.5 3,343.7 Pre-tax measure of profitability: Annuity margin 161.1 270.3 296.7 Health margin 477.3 493.0 459.8 Life margin 172.9 150.4 165.0 Total insurance product margin 811.3 913.7 921.5 Allocated expenses (596.6) (566.5) (557.7) Income from insurance products 214.7 347.2 363.8 Fee income 23.7 19.4 16.7 Investment income not allocated to product lines 159.5 184.5 167.1 Expenses not allocated to product lines (40.8) (80.5) (83.8) Operating earnings before taxes 357.1 470.6 463.8 Income tax expense on operating income 83.2 105.0 101.5 Net operating income $ 273.9 $ 365.6 $ 362.3 A reconciliation of segment revenues and expenses to consolidated revenues and expenses and net income is as follows (dollars in millions): 2022 2021 2020 Total segment revenues $ 3,667.0 $ 4,076.1 $ 3,807.5 Total investment gains (losses) (135.4) 19.1 (36.2) Revenues related to earnings attributable to VIEs 45.2 27.0 35.5 Fee revenue related to transition services agreement — — 14.3 Consolidated revenues 3,576.8 4,122.2 3,821.1 Total segment expenses 3,309.9 3,605.5 3,343.7 Insurance policy benefits - fair value changes in embedded derivative liabilities (340.9) (90.1) 99.0 Amortization related to fair value changes in embedded derivative liabilities 93.7 22.9 (19.9) Amortization related to investment gains (losses) (3.4) 1.7 (2.4) Expenses attributable to VIEs 43.0 24.4 33.8 Fair value changes related to agent deferred compensation plan (48.9) (8.9) 16.3 Expenses related to transition services agreement — — 8.8 Other expenses 6.1 (1.0) (2.5) Consolidated expenses 3,059.5 3,554.5 3,476.8 Income before tax 517.3 567.7 344.3 Income tax expense (benefit): Income tax expense on period income 120.5 126.7 76.5 Valuation allowance for deferred tax assets and other tax items — — (34.0) Net income $ 396.8 $ 441.0 $ 301.8 Segment balance sheet information was as follows (dollars in millions): 2022 2021 Assets: Annuity $ 11,323.9 $ 13,288.6 Health 9,221.6 10,558.7 Life 4,090.1 4,686.2 Investments not allocated to product lines 8,203.0 7,093.0 Assets of our non-life companies included in the fee income segment 207.7 194.0 Assets of our other non-life companies 292.9 383.9 Total assets $ 33,339.2 $ 36,204.4 Liabilities: Annuity $ 12,367.0 $ 12,283.3 Health 9,727.4 9,610.0 Life 4,317.9 4,279.5 Liabilities associated with investments not allocated to product lines (a) 5,293.8 4,502.9 Liabilities of our non-life companies included in the fee income segment 23.5 25.0 Liabilities of our other non-life companies 208.8 244.0 Total liabilities $ 31,938.4 $ 30,944.7 ____________ (a) Includes investment borrowings, policyholder account balances related to funding agreements, borrowings related to VIEs and notes payable - direct corporate obligations. The following table presents selected financial information of our segments (dollars in millions): Segment Present value of future profits Deferred acquisition costs Insurance liabilities 2022 Annuity $ 8.5 $ 655.1 $ 12,104.9 Health 189.7 636.4 9,642.1 Life 14.0 615.9 4,203.8 Amounts related to funding agreements included in investments not allocated to product lines — 6.0 1,410.8 Total $ 212.2 $ 1,913.4 $ 27,361.6 2021 Annuity $ — $ 126.4 $ 11,956.2 Health 205.9 509.0 9,508.7 Life 16.7 473.3 4,145.9 Amounts related to funding agreements included in investments not allocated to product lines — 3.3 502.0 Total $ 222.6 $ 1,112.0 $ 26,112.8

QUARTERLY FINANCIAL DATA (UNAUD

QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Data [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED)	QUARTERLY FINANCIAL DATA (UNAUDITED) We compute earnings per common share for each quarter independently of earnings per share for the year. The sum of the quarterly earnings per share may not equal the earnings per share for the year because of: (i) transactions affecting the weighted average number of shares outstanding in each quarter; and (ii) the uneven distribution of earnings during the year. Quarterly financial data (unaudited) were as follows (dollars in millions, except per share data): 2022 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Revenues $ 842.9 $ 855.0 $ 905.3 $ 973.6 Income before income taxes $ 149.3 $ 175.4 $ 137.2 $ 55.4 Income tax expense 37.0 39.3 32.2 12.0 Net income $ 112.3 $ 136.1 $ 105.0 $ 43.4 Earnings per common share: Basic: Net income $ .95 $ 1.18 $ .92 $ .38 Diluted: Net income $ .93 $ 1.16 $ .91 $ .37 2021 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Revenues $ 1,006.0 $ 1,073.1 $ 968.3 $ 1,074.8 Income before income taxes $ 190.0 $ 101.6 $ 128.0 $ 148.1 Income tax expense 42.6 23.6 28.2 32.3 Net income $ 147.4 $ 78.0 $ 99.8 $ 115.8 Earnings per common share: Basic: Net income $ 1.10 $ .59 $ .79 $ .95 Diluted: Net income $ 1.08 $ .58 $ .77 $ .93

INVESTMENTS IN VARIABLE INTERES

INVESTMENTS IN VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
INVESTMENTS IN VARIABLE INTEREST ENTITIES	INVESTMENTS IN VARIABLE INTEREST ENTITIES We have concluded that we are the primary beneficiary with respect to certain VIEs, which are consolidated in our financial statements. In consolidating the VIEs, we consistently use the financial information most recently distributed to investors in the VIE. All of the VIEs are collateralized loan trusts that were established to issue securities to finance the purchase of corporate loans and other permitted investments. The assets held by the trusts are legally isolated and not available to the Company. The liabilities of the VIEs are expected to be satisfied from the cash flows generated by the underlying loans held by the trusts, not from the assets of the Company. The scheduled repayment of the remaining principal balance of the borrowings related to the VIEs are estimated as follows: $187.0 million in 2023; $266.8 million in 2024; $245.4 million in 2025; $169.8 million in 2026; $100.4 million in 2027; $111.2 million in 2028; $19.1 million in 2029; and $7.0 million in 2030. The Company has no financial obligation to the VIEs beyond its investment in each VIE. Certain of our subsidiaries are noteholders of the VIEs. Another subsidiary of the Company is the investment manager for the VIEs. As such, it has the power to direct the most significant activities of the VIEs which materially impacts the economic performance of the VIEs. The following table provides supplemental information about the assets and liabilities of the VIEs which have been consolidated (dollars in millions): December 31, 2022 VIEs Eliminations Net effect on Assets: Investments held by variable interest entities $ 1,077.6 $ — $ 1,077.6 Notes receivable of VIEs held by subsidiaries — (113.8) (113.8) Cash and cash equivalents held by variable interest entities 69.2 — 69.2 Accrued investment income 3.5 — 3.5 Income tax assets, net 19.6 — 19.6 Other assets 2.5 (.8) 1.7 Total assets $ 1,172.4 $ (114.6) $ 1,057.8 Liabilities: Other liabilities $ 29.3 $ (2.4) $ 26.9 Borrowings related to variable interest entities 1,104.6 — 1,104.6 Notes payable of VIEs held by subsidiaries 126.1 (126.1) — Total liabilities $ 1,260.0 $ (128.5) $ 1,131.5 December 31, 2021 VIEs Eliminations Net effect on Assets: Investments held by variable interest entities $ 1,199.6 $ — $ 1,199.6 Notes receivable of VIEs held by subsidiaries — (113.8) (113.8) Cash and cash equivalents held by variable interest entities 99.6 — 99.6 Accrued investment income 1.6 — 1.6 Income tax assets, net 8.4 — 8.4 Other assets 7.1 (.9) 6.2 Total assets $ 1,316.3 $ (114.7) $ 1,201.6 Liabilities: Other liabilities $ 89.5 $ (4.3) $ 85.2 Borrowings related to variable interest entities 1,147.9 — 1,147.9 Notes payable of VIEs held by subsidiaries 126.1 (126.1) — Total liabilities $ 1,363.5 $ (130.4) $ 1,233.1 The following table provides supplemental information about the revenues and expenses of the VIEs which have been consolidated in accordance with authoritative guidance, after giving effect to the elimination of our investment in the VIEs and investment management fees earned by a subsidiary of the Company (dollars in millions): 2022 2021 2020 Revenues: Net investment income – policyholder and other special-purpose portfolios $ 60.1 $ 45.6 $ 52.7 Fee revenue and other income 5.3 5.2 5.1 Total revenues 65.4 50.8 57.8 Expenses: Interest expense 41.0 23.2 32.4 Other operating expenses 2.0 1.2 1.4 Total expenses 43.0 24.4 33.8 Income before net investment gains (losses) and income taxes 22.4 26.4 24.0 Net investment gains (losses) (8.1) 3.6 (13.8) Income before income taxes $ 14.3 $ 30.0 $ 10.2 The investment portfolios held by the VIEs are primarily comprised of commercial bank loans to corporate obligors. At December 31, 2022, the amortized cost of the below-investment grade investments held by the VIEs was $1,103.5 million, or 97 percent of the VIEs investment portfolio. At December 31, 2022, such loans had an amortized cost of $1,134.2 million; gross unrealized gains of $1.0 million; gross unrealized losses of $52.1 million; an allowance for credit losses of $5.5 million; and an estimated fair value of $1,077.6 million. The estimated fair value of the below-investment grade portfolio was $1,047.2 million, or 95 percent of the amortized cost. The following table summarizes changes in the allowance for credit losses related to investments held by VIEs for the three years ended December 31, 2022 (dollars in millions): Corporate securities Allowance at January 1, 2020 $ 9.9 Additions for securities for which credit losses were not previously recorded 26.6 Additions for purchased securities with deteriorated credit — Additions (reductions) for securities where an allowance was previously recorded (15.7) Reduction for securities sold during the period (5.7) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — Write-offs — Recoveries of previously written-off amount — Allowance at December 31, 2020 15.1 Additions for securities for which credit losses were not previously recorded 1.3 Additions for purchased securities with deteriorated credit — Additions (reductions) for securities where an allowance was previously recorded (2.9) Reduction for securities sold during the period (9.8) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — Write-offs — Recoveries of previously written-off amount — Allowance at December 31, 2021 3.7 Additions for securities for which credit losses were not previously recorded 7.8 Additions for purchased securities with deteriorated credit — Additions (reductions) for securities where an allowance was previously recorded (3.0) Reduction for securities sold during the period (3.0) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — Write-offs — Recoveries of previously written-off amount — Allowance at December 31, 2022 $ 5.5 The following table sets forth the amortized cost and estimated fair value of the investments held by the VIEs at December 31, 2022, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Amortized Estimated (Dollars in millions) Due in one year or less $ 11.4 $ 9.4 Due after one year through five years 732.9 699.0 Due after five years through ten years 389.9 369.2 Total $ 1,134.2 $ 1,077.6 The following table sets forth the amortized cost and estimated fair value of those investments held by the VIEs with unrealized losses at December 31, 2022, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Amortized Estimated (Dollars in millions) Due in one year or less $ 7.9 $ 5.9 Due after one year through five years 676.5 641.9 Due after five years through ten years 370.3 349.3 Total $ 1,054.7 $ 997.1 The following summarizes the investments sold at a loss during 2022 which had been continuously in an unrealized loss position exceeding 20 percent of the amortized cost basis prior to the sale for the period indicated (dollars in millions): At date of sale Number Amortized cost Fair value Less than 6 months prior to sale 3 $ 7.0 $ 3.9 Greater than or equal to 6 months and less than 12 months prior to sale 2 1.7 .6 $ 8.7 $ 4.5 The following summarizes the investments held by the VIEs rated below-investment grade not deemed to have credit losses which have been continuously in an unrealized loss position exceeding 20 percent of the cost basis for the period indicated as of December 31, 2022 (dollars in millions): Number Cost Unrealized Estimated Less than 6 months 5 $ 13.2 $ (3.9) $ 9.3 During 2022, the VIEs recognized net investment losses of $8.1 million which were comprised of: (i) $6.3 million of net losses from the sales of fixed maturities; and (ii) a $1.8 million increase in the allowance for credit losses. Such net investment losses included gross realized losses of $6.3 million from the sale of $69.2 million of investments. During 2021, the VIEs recognized net investment gains of $3.6 million which were comprised of: (i) $7.8 million of net losses from the sales of fixed maturities; and (ii) an $11.4 million decrease in the allowance for credit losses. Such net investment losses included gross realized losses of $8.1 million from the sale of $70.0 million of investments. During 2020, the VIEs recognized net investment losses of $13.8 million which were comprised of: (i) $8.6 million of net losses from the sales of fixed maturities; and (ii) a $5.2 million increase in the allowance for credit losses. Such net investment losses included gross realized losses of $8.7 million from the sale of $57.4 million of investments. At December 31, 2022, there were no fixed maturity investments held by the VIEs in default. At December 31, 2022, the VIEs held: (i) investments (for which an allowance for credit losses has not been recorded) with a fair value of $392.2 million and gross unrealized losses of $14.2 million that had been in an unrealized loss position for less than twelve months; and (ii) investments (for which an allowance for credit losses has not been recorded) with a fair value of $477.9 million and gross unrealized losses of $17.3 million that had been in an unrealized loss position for greater than twelve months. At December 31, 2021, the VIEs held: (i) investments (for which an allowance for credit losses has not been recorded) with a fair value of $417.7 million and gross unrealized losses of $2.2 million that had been in an unrealized loss position for less than twelve months; and (ii) investments (for which an allowance for credit losses has not been recorded) with a fair value of $279.7 million and gross unrealized losses of $3.1 million that had been in an unrealized loss position for greater than twelve months. The investments held by the VIEs are evaluated for impairment in a manner that is consistent with the Company's fixed maturities, available for sale.

SCHEDULE II - Condensed Financi

SCHEDULE II - Condensed Financial Information of Registrant (Parent Company)	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
SCHEDULE II - Condensed Financial Information of Registrant (Parent Company)	SCHEDULE II Condensed Financial Information of Registrant (Parent Company) Balance Sheet as of December 31, 2022 and 2021 (Dollars in millions) ASSETS 2022 2021 Cash and cash equivalents - unrestricted $ 136.7 $ 196.2 Equity securities at fair value 36.6 49.9 Investment in wholly-owned subsidiaries (eliminated in consolidation) 2,292.4 6,054.3 Income tax assets, net 154.9 164.5 Receivable from subsidiaries (eliminated in consolidation) 114.9 156.9 Other assets 2.2 1.2 Total assets $ 2,737.7 $ 6,623.0 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Notes payable $ 1,138.8 $ 1,137.3 Payable to subsidiaries (eliminated in consolidation) 172.0 146.9 Other liabilities 26.1 79.1 Total liabilities 1,336.9 1,363.3 Commitments and Contingencies Shareholders' equity: Common stock and additional paid-in capital ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: 2022 - 114,343,070; 2021 - 120,377,152) 2,034.9 2,185.4 Accumulated other comprehensive income (loss) (2,093.1) 1,947.1 Retained earnings 1,459.0 1,127.2 Total shareholders' equity 1,400.8 5,259.7 Total liabilities and shareholders' equity $ 2,737.7 $ 6,623.0 SCHEDULE II Condensed Financial Information of Registrant (Parent Company) Statement of Operations for the years ended December 31, 2022, 2021 and 2020 (Dollars in millions) 2022 2021 2020 Revenues: Net investment income $ 9.8 $ 7.4 $ 28.7 Net investment income - affiliated 3.0 .3 .8 Net investment gains (losses) (.6) (.2) .2 Total revenues 12.2 7.5 29.7 Expenses: Interest expense 62.5 62.4 55.2 Intercompany expenses (eliminated in consolidation) 3.8 .5 1.1 Operating costs and expenses .2 38.5 65.9 Total expenses 66.5 101.4 122.2 Loss before income taxes and equity in undistributed earnings of subsidiaries (54.3) (93.9) (92.5) Income tax benefit (18.3) (26.0) (28.2) Loss before equity in undistributed earnings of subsidiaries (36.0) (67.9) (64.3) Equity in undistributed earnings of subsidiaries (eliminated in consolidation) 432.8 508.9 366.1 Net income $ 396.8 $ 441.0 $ 301.8 The accompanying notes are an integral part of the condensed financial statements. CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES SCHEDULE II Condensed Financial Information of Registrant (Parent Company) Statement of Cash Flows for the years ended December 31, 2022, 2021 and 2020 (Dollars in millions) 2022 2021 2020 Cash flows from operating activities $ (143.2) $ (153.2) $ (136.3) Cash flows from investing activities: Sales of investments 24.6 — 18.4 Purchases of investments (11.8) (50.0) (18.2) Net sales of trading securities 7.7 8.4 26.8 Dividends received from consolidated subsidiary* 69.6 328.3 324.7 Net cash provided by investing activities 90.1 286.7 351.7 Cash flows from financing activities: Issuance of notes payable, net — — 145.8 Issuance of common stock 13.5 21.5 19.0 Payments to repurchase common stock (190.1) (407.8) (268.3) Common stock dividends paid (64.8) (65.7) (67.0) Issuance of notes payable to affiliates* 349.5 249.7 308.1 Payments on notes payable to affiliates* (114.5) (125.3) (143.6) Debt issuance costs — (1.0) — Net cash used by financing activities (6.4) (328.6) (6.0) Net increase (decrease) in cash and cash equivalents (59.5) (195.1) 209.4 Cash and cash equivalents, beginning of the year 196.2 391.3 181.9 Cash and cash equivalents, end of the year $ 136.7 $ 196.2 $ 391.3 * Eliminated in consolidation The accompanying notes are an integral part of the condensed financial statements. CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES SCHEDULE II Notes to Condensed Financial Information

SCHEDULE IV - REINSURANCE

SCHEDULE IV - REINSURANCE	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Schedule IV - Reinsurance	SCHEDULE IV Reinsurance for the years ended December 31, 2022, 2021 and 2020 (Dollars in millions) 2022 2021 2020 Life insurance inforce: Direct $ 30,444.8 $ 29,954.0 $ 29,109.8 Assumed 86.5 93.8 99.5 Ceded (2,820.0) (2,930.8) (3,042.4) Net insurance inforce $ 27,711.3 $ 27,117.0 $ 26,166.9 Percentage of assumed to net .3 % .3 % .4 % 2022 2021 2020 Insurance policy income: Direct $ 2,483.1 $ 2,530.5 $ 2,542.4 Assumed 18.7 20.3 23.0 Ceded (191.9) (208.0) (225.1) Net premiums $ 2,309.9 $ 2,342.8 $ 2,340.3 Percentage of assumed to net .8 % .9 % 1.0 %

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Accounting	When we prepare financial statements in conformity with GAAP, we are required to make estimates and assumptions that significantly affect reported amounts of various assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting periods.  For example, we use significant estimates and assumptions to calculate values for deferred acquisition costs, the present value of future profits, fair value measurements of certain investments (including derivatives), allowance for credit losses and other-than-temporary impairments of investments, assets and liabilities related to income taxes, liabilities for insurance products, liabilities related to litigation and guaranty fund assessment accruals.  If our future experience differs from these estimates and assumptions, our financial statements could be materially affected.
Consolidation	The accompanying financial statements include the accounts of the Company and its subsidiaries. Our consolidated financial statements exclude transactions between us and our consolidated affiliates, or among our consolidated affiliates.
Investments	Fixed maturity securities include available for sale bonds and redeemable preferred stocks. We carry these investments at estimated fair value. We record any unrealized gain or loss, net of tax and related adjustments, as a component of shareholders’ equity. Equity securities include investments in common stock, exchange-traded funds and non-redeemable preferred stock. We carry these investments at estimated fair value. Changes in the fair value of equity securities are recognized in net income. Mortgage loans held in our investment portfolio are carried at amortized unpaid balance, net of allowance for estimated credit losses. Interest income is accrued on the principal amount of the loan based on the loan's contractual interest rate. Payment terms specified for mortgage loans may include a prepayment penalty for unscheduled payoff of the investment. Prepayment penalties are recognized as investment income when received. The allowance for estimated credit losses is measured using a loss-rate method on an individual asset basis. Inputs used include asset-specific characteristics, current economic conditions, historical loss information and reasonable and supportable forecasts about future economic conditions. Policy loans are stated at current unpaid principal balances. Policy loans are collateralized by the cash surrender value of the life insurance policy. Interest income is recorded as earned using the contractual interest rate. Trading securities include: (i) investments purchased with the intent of selling in the near term to generate income; and (ii) certain fixed maturity securities containing embedded derivatives for which we have elected the fair value option. The change in fair value of the income generating investments is recognized in income from policyholder and other special-purpose portfolios (a component of net investment income). The change in fair value of securities with embedded derivatives is recognized in other investment gains (losses). Other invested assets include: (i) call options purchased in an effort to offset or hedge the effects of certain policyholder benefits related to our fixed indexed annuity and life insurance products; (ii) Company-owned life insurance ("COLI"); (iii) investments in the common stock of the Federal Home Loan Bank ("FHLB"); and (iv) certain non-traditional investments. We carry the call options at estimated fair value as further described in the section of this note entitled "Accounting for Derivatives". We carry COLI at its cash surrender value which approximates its net realizable value. Non-traditional investments include investments in certain limited partnerships and hedge funds which are accounted for using the equity method. In accounting for limited partnerships and hedge funds, we consistently use the most recently available financial information provided by the general partner or manager of each of these investments, which is generally three months prior to the end of our reporting period. Interest income on fixed maturity securities is recognized when earned using a constant effective yield method giving effect to amortization of premiums and accretion of discounts. Prepayment fees are recognized when earned. Dividends on equity securities are recognized on the ex-dividend date. When we sell a security (other than trading securities), we report the difference between the sale proceeds and amortized cost (determined based on specific identification) as a realized investment gain or loss. When an available for sale fixed maturity security's fair value is below the amortized cost, the security is considered impaired. If a portion of the decline is due to credit-related factors, we separate the credit loss component of the impairment from the amount related to all other factors. The credit loss component is recorded as an allowance and reported in other investment gains (losses) (limited to the difference between estimated fair value and amortized cost). The impairment related to all other factors (non-credit factors) is reported in accumulated other comprehensive income along with unrealized gains related to fixed maturity investments, available for sale, net of tax and related adjustments. The allowance is adjusted for any additional credit losses and subsequent recoveries. When recognizing an allowance associated with a credit loss, the cost basis is not adjusted. When we determine a security is uncollectable, the remaining amortized cost will be written off. In determining the credit loss component, we discount the estimated cash flows on a security by security basis. We consider the impact of macroeconomic conditions on inputs used to measure the amount of credit loss. For most structured securities, cash flow estimates are based on bond-specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity, prepayment speeds and structural support, including overcollateralization, excess spread, subordination and guarantees. For corporate bonds, cash flow estimates are derived by considering asset type, rating, time to maturity, and applying an expected loss rate. If we intend to sell an impaired fixed maturity security, available for sale, or identify an impaired fixed maturity security, available for sale, for which it is more likely than not we will be required to sell before anticipated recovery, the difference between the fair value and the amortized cost is included in other investment gains (losses) and the fair value becomes the new amortized cost. The new cost basis is not adjusted for any subsequent recoveries in fair value. The Company reports accrued investment income separately from fixed maturities, available for sale, and has elected not to measure an allowance for credit losses for accrued investment income. Accrued investment income is written off through net investment income at the time the issuer of the bond defaults or is expected to default on payments.
Cash and Cash Equivalents	Cash and cash equivalents include invested cash and other investments purchased with original maturities of less than three months. We carry them at amortized cost, which approximates estimated fair value. It is the Company's policy to offset negative cash balances with positive balances in other accounts with the same counterparty when agreements are in place permitting legal right of offset.
Deferred Acquisition Costs	Deferred acquisition costs represent incremental direct costs related to the successful acquisition of new or renewal insurance contracts. For interest-sensitive life or annuity products, we amortize these costs in relation to the estimated gross profits using the interest rate credited to the underlying policies. For other products, we amortize these costs in relation to future anticipated premium revenue using the projected investment earnings rate. When we realize a gain or loss on investments backing our interest-sensitive life or annuity products, we adjust the amortization to reflect the change in estimated gross profits from the products due to the gain or loss realized and the effect on future investment yields. We also adjust deferred acquisition costs (including costs related to policies other than interest-sensitive life or annuity products) for the change in amortization that would have been recorded if our fixed maturity securities, available for sale, had been sold at their stated aggregate fair value and the proceeds reinvested at current yields. We limit the total adjustment related to the impact of unrealized losses to the total of costs capitalized plus interest related to insurance policies issued in a particular year. We include the impact of this adjustment in accumulated other comprehensive income (loss) within shareholders' equity. We regularly evaluate the recoverability of the unamortized balance of the deferred acquisition costs. We consider estimated future gross profits or future premiums, expected mortality or morbidity, interest earned and credited rates, persistency and expenses in determining whether the balance is recoverable. If we determine a portion of the unamortized balance is not recoverable, it is charged to amortization expense. In certain cases, the unamortized balance of the deferred acquisition costs may not be deficient in the aggregate, but our estimates of future earnings indicate that profits would be recognized in early periods and losses in later periods. In this case, we increase the amortization of the deferred acquisition costs over the period of profits, by an amount necessary to offset losses that are expected to be recognized in the later years.
Present Value of Future Profits	The present value of future profits is the value assigned to the right to receive future cash flows from policyholder insurance contracts existing at September 10, 2003 (the "Effective Date", the effective date of the bankruptcy reorganization of Conseco, Inc., an Indiana corporation (our "Predecessor")). The discount rate we used to determine the present value of future profits was 12 percent. The balance of this account is amortized and evaluated for recovery in the same manner as described above for deferred acquisition costs.  We also adjust the present value of future profits for the change in amortization that would have been recorded if the fixed maturity securities, available for sale, had been sold at their stated aggregate fair value and the proceeds reinvested at current yields, similar to the manner described above for deferred acquisition costs.  We limit the total adjustment related to the impact of unrealized losses to the total present value of future profits plus interest.
Recognition of Insurance Policy Income and Related Benefits and Expenses on Insurance Contracts	For interest-sensitive life and annuity contracts that do not involve significant mortality or morbidity risk and funding agreements, the amounts collected from policyholders are considered deposits and are not included in revenue. Revenues for these contracts consist of charges for policy administration, cost of insurance charges and surrender charges assessed against policyholders' account balances. Such revenues are recognized when the service or coverage is provided, or when the policy is surrendered. We establish liabilities for annuity and interest-sensitive life products and funding agreements equal to the accumulated policy account values, which include an accumulation of deposit payments plus credited interest, less withdrawals and the amounts assessed against the policyholder through the end of the period. In addition, policyholder account values for certain interest-sensitive life products are impacted by our assumptions related to changes of certain non-guaranteed elements that we are allowed to make under the terms of the policy, such as cost of insurance charges, expense loads, credited interest rates and policyholder bonuses. Sales inducements provided to the policyholders of these products are recognized as liabilities over the period that the contract must remain in force to qualify for the inducement. The options attributed to the policyholder related to our fixed indexed annuity products are accounted for as embedded derivatives as described in the section of this note entitled "Accounting for Derivatives". Premiums from individual life products (other than interest-sensitive life contracts) and health products are recognized when due. When premiums are due over a significantly shorter period than the period over which benefits are provided, any gross premium in excess of the net premium (i.e., the portion of the gross premium required to provide for all expected future benefits and expenses) is deferred and recognized into revenue in a constant relationship to insurance in force. Benefits are recorded as an expense when they are incurred. We establish liabilities for traditional life, accident and health insurance, and life contingent payment annuity products using mortality tables in general use in the United States, which are modified to reflect the Company's actual experience when appropriate. We establish liabilities for accident and health insurance products using morbidity tables based on the Company's actual or expected experience. These reserves are computed at amounts that, with additions from estimated future premiums received and with interest on such reserves at estimated future rates, are expected to be sufficient to meet our obligations under the terms of the policy. Liabilities for future policy benefits are computed on a net-level premium method based upon assumptions as to future claim costs, investment yields, mortality, morbidity, withdrawals, policy dividends and maintenance expenses determined when the policies were issued (or with respect to policies inforce at August 31, 2003, the Company's best estimate of such assumptions on the Effective Date). We make an additional provision to allow for potential adverse deviation for some of our assumptions. Once established, assumptions on these products are generally not changed unless a premium deficiency exists. In that case, a premium deficiency reserve is recognized and the future pattern of reserve changes is modified to reflect the relationship of premiums to benefits based on the current best estimate of future claim costs, investment yields, mortality, morbidity, withdrawals, policy dividends and maintenance expenses, determined without an additional provision for potential adverse deviation. We establish claim reserves based on our estimate of the loss to be incurred on reported claims plus estimates of incurred but unreported claims based on our past experience.
Accounting for Long-term Care Premium Rate Increases	Many of our long-term care policies have been subject to premium rate increases. In some cases, these premium rate increases were materially consistent with the assumptions we used to value the particular block of business at the Effective Date. With respect to certain premium rate increases, some of our policyholders were provided an option to cease paying their premiums and receive a non-forfeiture option in the form of a paid-up policy with limited benefits. In addition, our policyholders could choose to reduce their coverage amounts and premiums in the same proportion, when permitted by our contracts or as required by regulators. The following describes how we account for these policyholder options: • Premium rate increases - If premium rate increases reflect a change in our previous rate increase assumptions, the new assumptions are not reflected prospectively in our reserves. Instead, the additional premium revenue resulting from the rate increase is recognized as earned and original assumptions continue to be used to determine changes to liabilities for insurance products unless a premium deficiency exists. • Benefit reductions - A policyholder may choose reduced coverage with a proportionate reduction in premium, when permitted by our contracts. This option does not require additional underwriting. Benefit reductions are treated as a partial lapse of coverage, and the balance of our reserves and deferred insurance acquisition costs is reduced in proportion to the reduced coverage. • Non-forfeiture benefits offered in conjunction with a rate increase - In some cases, non-forfeiture benefits are offered to policyholders who wish to lapse their policies at the time of a significant rate increase. In these cases, exercise of this option is treated as an extinguishment of the original contract and issuance of a new contract. The balance of our reserves and deferred insurance acquisition costs are released, and a reserve for the new contract is established. Some of our policyholders may receive a non-forfeiture benefit if they cease paying their premiums pursuant to their original contract (or pursuant to changes made to their original contract as a result of a litigation settlement made prior to the Effective Date or an order issued by the Florida Office of Insurance Regulation). In these cases, exercise of this option is treated as the exercise of a policy benefit, and the reserve for premium paying benefits is reduced, and the reserve for the non-forfeiture benefit is adjusted to reflect the election of this benefit.
Accounting for Certain Marketing Agreements	Bankers Life and Casualty Company ("Bankers Life") has entered into various distribution and marketing agreements with other insurance companies to use Bankers Life's exclusive agents to distribute prescription drug and Medicare Advantage plans. These agreements allow Bankers Life to offer these products to current and potential future policyholders without investment in management and infrastructure. We receive fee income related to the plans sold through our distribution channels and incur distribution expenses paid to our agents who sell such products. The recognition of fee revenue and the distribution expenses paid to our agents results from approval of an application by the third-party insurance companies, which we define as our customers. We recognize the net lifetime revenue expected to be earned on these sales, but only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The assumptions and constraints used to recognize such net revenue are based on available historical data. To the extent we make changes to the assumptions we use to calculate revenue on these products, we will recognize the impact of the changes in the period in which the change is made.
Income Taxes	Our income tax expense includes deferred income taxes arising from temporary differences between the financial reporting and tax bases of assets and liabilities and net operating loss carryforwards ("NOLs"). Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which temporary differences are expected to be recovered or paid. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in earnings in the period when the changes are enacted. A reduction of the net carrying amount of deferred tax assets by establishing a valuation allowance is required if, based on the available evidence, it is more likely than not that such assets will not be realized. In assessing the need for a valuation allowance, all available evidence, both positive and negative, shall be considered to determine whether, based on the weight of that evidence, a valuation allowance for deferred tax assets is needed. This assessment requires significant judgment and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of carryforward periods, our experience with operating loss and tax credit carryforwards expiring unused, and tax planning strategies. We evaluate the need to establish a valuation allowance for our deferred income tax assets on an ongoing basis. The realization of our deferred tax assets depends upon generating sufficient future taxable income of the appropriate type during the periods in which our temporary differences become deductible and before our NOLs expire.
Investments in Variable Interest Entities	We have concluded that we are the primary beneficiary with respect to certain variable interest entities ("VIEs"), which are consolidated in our financial statements. All of the VIEs are collateralized loan trusts that were established to issue securities to finance the purchase of corporate loans and other permitted investments. The assets held by the trusts are legally isolated and not available to the Company. The liabilities of the VIEs are expected to be satisfied from the cash flows generated by the underlying loans held by the trusts, not from the assets of the Company. The Company has no financial obligation to the VIEs beyond its investment in each VIE. The investment portfolios held by the VIEs are primarily comprised of commercial bank loans to corporate obligors which are almost entirely rated below-investment grade. Refer to the note to the consolidated financial statements entitled "Investments in Variable Interest Entities" for additional information about VIEs. In addition, the Company, in the normal course of business, makes passive investments in structured securities issued by VIEs for which the Company is not the investment manager. These structured securities include asset-backed securities, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, collateralized loan obligations and commercial mortgage-backed securities. Our maximum exposure to loss on these securities is limited to our cost basis in the investment. We have determined that we are not the primary beneficiary of these structured securities due to the relative size of our investment in comparison to the total principal amount of the individual structured securities and the level of credit subordination which reduces our obligation to absorb gains or losses.
Investment Borrowings	Substantially all of such investments are classified as fixed maturities, available for sale, in our consolidated balance sheet.
Accounting for Derivatives	Our fixed indexed annuity products provide a guaranteed minimum rate of return and a higher potential return that is based on a percentage (the "participation rate") of the amount of increase in the value of a particular index, such as the Standard & Poor's 500 Index, over a specified period. We are generally able to change the participation rate at the beginning of each index period (typically on each policy anniversary date), subject to contractual minimums. The Company accounts for the options attributed to the policyholder for the estimated life of the contract as embedded derivatives. We are required to record the embedded derivatives related to our fixed indexed annuity products at estimated fair value. The value of the embedded derivative is based on the estimated cost to fulfill our commitment to fixed indexed annuity policyholders to purchase a series of annual forward options over the duration of the policy that back the potential return based on a percentage of the amount of increase in the value of the appropriate index. In valuing these options, we are required to make assumptions regarding: (i) future index values to determine both the future notional amounts at each anniversary date and the future prices of the forward starting options; (ii) future annual participation rates; and (iii) non-economic factors related to policy persistency. These assumptions are used to estimate the future cost to purchase the options. The value of the embedded derivatives is determined based on the present value of estimated future option costs discounted using a risk-free rate adjusted for our non-performance risk and risk margins for non-capital market inputs. The non-performance risk adjustment is determined by taking into consideration publicly available information related to spreads in the secondary market for debt with credit ratings similar to ours. These observable spreads are then adjusted to reflect the priority of these liabilities and the claim paying ability of the issuing insurance subsidiaries. Risk margins are established to capture non-capital market risks which represent the additional compensation a market participant would require to assume the risks related to the uncertainties regarding the embedded derivatives, including future policyholder behavior related to persistency. The determination of the risk margin is highly judgmental given the lack of a market to assume the risks solely related to the embedded derivatives of our fixed indexed annuity products. The determination of the appropriate risk-free rate and non-performance risk is sensitive to the economic and interest rate environment. Accordingly, the value of the derivative is volatile due to external market sensitivities, which may materially affect net income. Additionally, changes in the judgmental assumptions regarding the appropriate risk margin can significantly impact the value of the derivative. We typically buy call options (including call spreads) referenced to the applicable indices in an effort to offset or hedge potential increases to policyholder benefits resulting from increases in the particular index to which the policy's return is linked. We purchase certain fixed maturity securities that contain embedded derivatives that are required to be held at fair value on the consolidated balance sheet. We have elected the fair value option to carry the entire security at fair value with changes in fair value reported in net income.
Sales Inducements	Certain of our annuity products offer sales inducements to contract holders in the form of enhanced crediting rates or bonus payments in the initial period of the contract.  Certain of our life insurance products offer persistency bonuses credited to the contract holder's balance after the policy has been outstanding for a specified period of time.  These enhanced rates and persistency bonuses are considered sales inducements in accordance with GAAP.  Such amounts are deferred and amortized in the same manner as deferred acquisition costs.
Recently Issued Accounting Standards	Pending Accounting Standards In August 2018, the Financial Accounting Standards Board ("FASB") issued authoritative guidance revising the accounting for long-duration insurance contracts. The new guidance: (i) improves the timeliness of recognizing changes in the liability for future benefits and modifies the rate used to discount future cash flows; (ii) simplifies and improves the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts; (iii) simplifies the amortization of deferred acquisition costs; and (iv) requires enhanced disclosures, including disaggregated rollforwards of the liability for future policy benefits, policyholder account liabilities, market risk benefits and deferred acquisition costs. Additionally, qualitative and quantitative information about expected cash flows, estimates and assumptions will be required. The new measurement guidance for traditional and limited-payment contract liabilities and the new guidance for the amortization of deferred acquisition costs are required to be adopted on a modified retrospective transition approach, with an option to elect a full retrospective transition if certain criteria are met. The transition approach for deferred acquisition costs is required to be consistent with the transition applied to the liability for future policyholder benefits. Under the modified retrospective approach, for contracts in-force at the transition date, an entity would continue to use the existing locked-in investment yield interest rate assumption to calculate the net premium ratio, rather than the upper-medium grade fixed-income corporate instrument yield. However, for balance sheet remeasurement purposes, the current upper-medium grade fixed-income corporate instrument yield would be used at transition through accumulated other comprehensive income (loss) and subsequently through other comprehensive income. For market risk benefits, retrospective application is required, with the ability to use hindsight to measure fair value components to the extent assumptions in a prior period are unobservable or otherwise unavailable. We have selected the modified retrospective transition method, except for market risk benefits where we are required to use the full retrospective approach. We have made progress in determining certain accounting decisions related to the standard including, but not limited to, conclusions related to: (i) the method to determine discount rates; (ii) a process to group policies into cohorts for the measurement of future policy benefits; (iii) a process to develop experience studies at a cohort level to substantiate mortality, morbidity, terminations and other actuarial assumptions; and (iv) a method to estimate the fair value of certain annuity product features which guarantee a defined stream of income to the policyholder for life (which is considered a market risk benefit). With respect to the method to determine interest rates, we have made certain conclusions, but we continue to refine our methodology. The process involves the determination of discount rate curves for discounting cash flows to calculate the liability for future policy benefits at a cohort level. Each discount rate curve is developed to reflect the duration characteristics of the underlying insurance liabilities using discount rates comparable to upper-medium grade (low credit risk) fixed income yields. Discount rates will be updated quarterly. Our long duration insurance contracts will be grouped into annual calendar-year cohorts primarily based on the contractual issue date, marketing distribution channel, legal entity and product type. Single premium contracts will be grouped into separate cohorts from other traditional products. Riders will generally be combined with the base policy. Insurance contracts which were issued prior to September 10, 2003 (the effective date of the bankruptcy reorganization of Conseco, Inc. (our Predecessor)) will be grouped by marketing distribution channel, legal entity and product type in a single issue year cohort. Using the cash flow assumptions underlying our insurance contracts, we have completed preliminary testing of the potential loss recognition on the January 1, 2021 transition date (the "Transition Date"). Under the new guidance, this testing is performed at the Transition Date at a cohort level, rather than the current requirements to aggregate all vintages within a block. Although we do not have variable annuity business with guaranteed features considered "market risk benefits," we do issue certain fixed indexed annuities with lifetime income riders. These riders are currently accounted for using traditional insurance accounting, but must be carried at fair value under the new standard. We have made preliminary determinations of the Transition Date impact of this change. The adoption of the new standard will have a material impact on our financial position, results of operations, and disclosures. We anticipate that the requirement to update assumptions for the liability for future policy benefits will have a material impact on our results of operations, systems, processes and controls and that the requirement to update discount rates will have a material impact on shareholders’ equity. Based upon the modified retrospective transition method, we estimate that the new discount rate impact from adoption on the Transition Date will result in a decrease to the accumulated other comprehensive income (loss) balance of approximately $2,080 million, resulting in a balance of approximately $110 million at the Transition Date. This is primarily due to updating the liability for future policy benefits discount rate assumptions from the rates locked in for reserves held as of the Transition Date to rates determined by reference to the Transition Date market level yields for upper-medium-grade (low credit risk) fixed income instruments as of December 31, 2020. The impacts on accumulated other comprehensive income (loss) in periods following the Transition Date will be based on market yields in effect on the date of the financial statements, and such impact may differ significantly from the estimated range disclosed above. In addition, we estimate that the Transition Date impact on retained earnings will be a decrease of approximately $130 million primarily due to certain "cohorts" of older long-term care policies having negative margins. The overall margin on our long-term care block continues to be positive. In addition, our estimate of the Transition Date impact on retained earnings includes the impact of carrying the lifetime income riders on certain fixed indexed annuities at fair value. The estimated impact on retained earnings is based on numerous assumptions and methodologies including: (i) our methodology of defining cohorts; (ii) the assumptions used to estimate the market value of features which guarantee a defined stream of income to the policyholder for life; and (iii) numerous assumptions regarding future policy benefits. Under the new standard, we estimate that recast insurance margins from the Transition Date into 2021 and 2022 will be higher and less volatile. The higher insurance margins are due to a number of factors: First, there is less quarter-to-quarter volatility in most products as temporary deviations from experience (including the impacts of the novel coronavirus ("COVID-19")) are offset by reserve changes. This is different than current GAAP accounting for health and traditional life products where no such change to reserves is made for temporary deviations from experience. Second, the gradual release of provisions for adverse deviations or PADs, embedded in our transition balance sheet reserves are expected to positively impact earnings. This will affect our health and traditional life inforce blocks of business and will be spread over the remaining life of those blocks. Third, we expect positive impacts from lower amortization of deferred acquisition costs and other similar intangible assets. Fourth, the transition impacts to retained earnings, primarily from reserve changes on certain cohorts of older long-term care policies, will increase earnings in 2021 and 2022 due to favorable experience during these periods. This positive impact is not expected to persist materially past year-end 2022. Based on our current estimates, we expect the new standard to have the following pre-tax impact to the insurance margins reported under the previous guidance: an increase of $45 million to $65 million in 2021; and an increase of $35 million to $55 million in 2022. We are testing our reporting and disclosure capabilities under the new guidance for post-Transition Date accounting periods. We are also enhancing certain modeling, data management, experience study and analytical capabilities and increasing the automation of key reporting and analytical processes. As part of our implementation plan, we are putting in place internal controls related to the new processes and will continue to refine and develop these internal controls until the formal implementation of the new standard in the first quarter of 2023. The actual impact of adoption will be updated as the model validation, system testing and parallel runs are completed; therefore, our estimates are subject to change. Adopted Accounting Standards In June 2016, the FASB issued authoritative guidance related to the measurement of credit losses on financial instruments. The new guidance replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to form credit loss estimates. The guidance requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. Credit losses on available for sale debt securities are measured in a manner similar to current GAAP. However, the guidance requires that credit losses be presented as an allowance rather than as a writedown. The guidance was effective for the Company on January 1, 2020. The impact of adoption, using the modified retrospective approach, was as follows (dollars in millions): January 1, 2020 Amounts prior to effect of adoption of authoritative guidance Effect of adoption of authoritative guidance As adjusted Fixed maturities, available for sale $ 21,295.2 $ (2.1) $ 21,293.1 Mortgage loans 1,566.1 (6.7) 1,559.4 Investments held by variable interest entities 1,188.6 (9.9) 1,178.7 Income tax assets, net 432.6 4.9 437.5 Reinsurance receivables 4,785.7 (4.0) 4,781.7 Total assets 33,630.9 (17.8) 33,613.1 Retained earnings 535.7 (17.8) 517.9 Total shareholders' equity 4,677.0 (17.8) 4,659.2 In January 2017, the FASB issued authoritative guidance that removes Step 2 of the goodwill impairment test under current guidance, which requires a hypothetical purchase price allocation. The new guidance requires an impairment charge to be recognized for the amount by which the carrying amount exceeds the reported unit's fair value. Upon adoption, the guidance is to be applied prospectively. The guidance was effective for the Company on January 1, 2020. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows. In August 2018, the FASB issued authoritative guidance related to changes to the disclosure requirements for fair value measurement. The new guidance removes, modifies and adds certain disclosure requirements. The guidance was effective for the Company on January 1, 2020. The adoption of such guidance impacted certain fair value disclosures, but did not impact our consolidated financial position, results of operations or cash flows.
Fair Value Measurements	Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and, therefore, represents an exit price, not an entry price. We carry certain assets and liabilities at fair value on a recurring basis, including fixed maturities, equity securities, trading securities, investments held by VIEs, derivatives, separate account assets and embedded derivatives. We carry our COLI, which is invested in a series of mutual funds, at its cash surrender value which approximates fair value. In addition, we disclose fair value for certain financial instruments, including mortgage loans, policy loans, cash and cash equivalents, insurance liabilities for interest-sensitive products and funding agreements, investment borrowings, notes payable and borrowings related to VIEs. The degree of judgment utilized in measuring the fair value of financial instruments is largely dependent on the level to which pricing is based on observable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our view of market assumptions in the absence of observable market information. Financial instruments with readily available active quoted prices would be considered to have fair values based on the highest level of observable inputs, and little judgment would be utilized in measuring fair value. Financial instruments that rarely trade would often have fair value based on a lower level of observable inputs, and more judgment would be utilized in measuring fair value. Valuation Hierarchy There is a three-level hierarchy for valuing assets or liabilities at fair value based on whether inputs are observable or unobservable. • Level 1 – includes assets and liabilities valued using inputs that are unadjusted quoted prices in active markets for identical assets or liabilities. Our Level 1 assets primarily include cash and cash equivalents and exchange-traded securities. • Level 2 – includes assets and liabilities valued using inputs that are quoted prices for similar assets in an active market, quoted prices for identical or similar assets in a market that is not active, observable inputs, or observable inputs that can be corroborated by market data. Level 2 assets and liabilities include those financial instruments that are valued by independent pricing services using models or other valuation methodologies. These models consider various inputs such as credit rating, maturity, corporate credit spreads, reported trades and other inputs that are observable or derived from observable information in the marketplace or are supported by transactions executed in the marketplace. Financial assets in this category primarily include: certain publicly registered and privately placed corporate fixed maturity securities; certain government or agency securities; certain mortgage and asset-backed securities; certain equity securities; most investments held by our consolidated VIEs; and derivatives such as call options. Financial liabilities in this category include investment borrowings, notes payable and borrowings related to VIEs. • Level 3 – includes assets and liabilities valued using unobservable inputs that are used in model-based valuations that contain management assumptions. Level 3 assets and liabilities include those financial instruments whose fair value is estimated based on broker/dealer quotes, pricing services or internally developed models or methodologies utilizing significant inputs not based on, or corroborated by, readily available market information. Financial assets in this category include certain corporate securities, certain structured securities, mortgage loans, and other less liquid securities. Financial liabilities in this category include our insurance liabilities for interest-sensitive products, which includes embedded derivatives (including embedded derivatives related to our fixed indexed annuity products and to a modified coinsurance arrangement), and funding agreements since their values include significant unobservable inputs including actuarial assumptions. At each reporting date, we classify assets and liabilities into the three input levels based on the lowest level of input that is significant to the measurement of fair value for each asset and liability reported at fair value. This classification is impacted by a number of factors, including the type of financial instrument, whether the financial instrument is new to the market and not yet established, the characteristics specific to the transaction and overall market conditions. Our assessment of the significance of a particular input to the fair value measurement and the ultimate classification of each asset and liability requires judgment and is subject to change from period to period based on the observability of the valuation inputs. The vast majority of our assets carried at fair value use Level 2 inputs for the determination of fair value. These fair values are obtained primarily from independent pricing services, which use Level 2 inputs for the determination of fair value. Our Level 2 assets are valued as follows: • Fixed maturities available for sale, equity securities and trading securities Corporate securities are generally priced using market and income approaches using independent pricing services. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity and credit spreads. U.S. Treasuries and obligations of U.S. Government corporations and agencies are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets and maturity. States and political subdivisions are generally priced using the market approach using independent pricing services. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, new issuances and credit spreads. Foreign governments are generally priced using the market approach using independent pricing services. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, new issuances, benchmark yields, credit spreads and issuer rating. Asset-backed securities, agency and non-agency residential mortgage-backed securities, collateralized loan obligations and commercial mortgage-backed securities are generally priced using market and income approaches using independent pricing services. Inputs generally consist of quoted prices in inactive markets, spreads on actively traded securities, expected prepayments, expected default rates, expected recovery rates and issue specific information including, but not limited to, collateral type, seniority and vintage. Equity securities are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity and credit spreads. • Investments held by VIEs Corporate securities are generally priced using market and income approaches using pricing vendors. Inputs generally consist of issuer rating, benchmark yields, maturity, and credit spreads. • Other invested assets - derivatives The fair value measurements for derivative instruments, including embedded derivatives requiring bifurcation, are determined based on the consideration of several inputs including closing exchange or over-the-counter market price quotes, time value and volatility factors underlying options, market interest rates and non-performance risk. Third-party pricing services normally derive security prices through recently reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information. If there are no recently reported trades, the third-party pricing services may use matrix or model processes to develop a security price where future cash flow expectations are discounted at an estimated risk-adjusted market rate. The number of prices obtained for a given security is dependent on the Company's analysis of such prices as further described below. As the Company is responsible for the determination of fair value, we have control processes designed to ensure that the fair values received from third-party pricing sources are reasonable and the valuation techniques and assumptions used appear reasonable and consistent with prevailing market conditions. Additionally, when inputs are provided by third-party pricing sources, we have controls in place to review those inputs for reasonableness. As part of these controls, we perform monthly quantitative and qualitative analysis on the prices received from third parties to determine whether the prices are reasonable estimates of fair value. The Company's analysis includes: (i) a review of the methodology used by third-party pricing services; (ii) where available, a comparison of multiple pricing services' valuations for the same security; (iii) a review of month to month price fluctuations; (iv) a review to ensure valuations are not unreasonably dated; and (v) back testing to compare actual purchase and sale transactions with valuations received from third parties. As a result of such procedures, the Company may conclude a particular price received from a third party is not reflective of current market conditions. In those instances, we may request additional pricing quotes or apply internally developed valuations. However, the number of such instances is insignificant and the aggregate change in value of such investments is not materially different from the original prices received. The categorization of the fair value measurements of our investments priced by independent pricing services was based upon the Company's judgment of the inputs or methodologies used by the independent pricing services to value different asset classes. Such inputs typically include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and other relevant data. The Company categorizes such fair value measurements based upon asset classes and the underlying observable or unobservable inputs used to value such investments. For securities that are not priced by pricing services and may not be reliably priced using pricing models, we obtain broker quotes. These broker quotes are non-binding and represent an exit price, but assumptions used to establish the fair value may not be observable and therefore represent Level 3 inputs. Approximately 89 percent of our Level 3 fixed maturity securities and trading securities were valued using unadjusted broker quotes or broker-provided valuation inputs. The remaining Level 3 fixed maturity investments do not have readily determinable market prices and/or observable inputs. For these securities, we use internally developed valuations. Key assumptions used to determine fair value for these securities may include risk premiums, projected performance of underlying collateral and other factors involving significant assumptions which may not be reflective of an active market. For certain investments, we use a matrix or model process to develop a security price where future cash flow expectations are discounted at an estimated market rate. The pricing matrix incorporates term interest rates as well as a spread level based on the issuer's credit rating, other factors relating to the issuer, and the security's maturity. In some instances issuer-specific spread adjustments, which can be positive or negative, are made based upon internal analysis of security specifics such as liquidity, deal size, and time to maturity.
Earnings Per Share	Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding for the period.  Restricted shares (including our performance units) are not included in basic earnings per share until vested.  Diluted earnings per share reflect the potential dilution that could occur if outstanding stock options were exercised and restricted stock was vested.  The dilution from options and restricted shares is calculated using the treasury stock method.  Under this method, we assume the proceeds from the exercise of the options (or the unrecognized compensation expense with respect to restricted stock and performance units) will be used to purchase shares of our common stock at the average market price during the period, reducing the dilutive effect of the exercise of the options (or the vesting of the restricted stock and performance units).
Business Segments	We view our operations as three insurance product lines (annuity, health and life) and the investment and fee revenue segments. Our segments are aligned based on their common characteristics, comparability of profit margins and the way management makes operating decisions and assesses the performance of the business. Our insurance product line segments (annuity, health and life) include marketing, underwriting and administration of the policies our insurance subsidiaries sell. The business written in each of the three product categories through all of our insurance subsidiaries is aggregated allowing management and investors to assess the performance of each product category. When analyzing profitability of these segments, we use insurance product margin as the measure of profitability, which is: (i) insurance policy income; and (ii) net investment income allocated to the insurance product lines; less (i) insurance policy benefits and interest credited to policyholders; and (ii) amortization, non-deferred commissions and advertising expense. Net investment income is allocated to the product lines using the book yield of investments backing the block of business, which is applied to the average insurance liabilities, net of insurance intangibles, for the block in each period. Income from insurance products is the sum of the insurance margins of the annuity, health and life product lines, less expenses allocated to the insurance lines. It excludes the income from our fee income business, investment income not allocated to product lines, net expenses not allocated to product lines (primarily holding company expenses) and income taxes. Management believes insurance product margin and income from insurance products help provide a better understanding of the business and a more meaningful analysis of the results of our insurance product lines. We market our products through the Consumer and Worksite Divisions that reflect the customers served by the Company. The Consumer Division serves individual consumers, engaging with them on the phone, virtually, online, face-to-face with agents, or through a combination of sales channels. This structure unifies consumer capabilities into a single division and integrates the strength of our agent sales forces with one of the largest direct-to-consumer insurance businesses with proven experience in advertising, web/digital and call center support. The Worksite Division focuses on worksite and group sales for businesses, associations, and other membership groups, interacting with customers at their place of employment and virtually. With a separate Worksite Division, we are bringing a sharper focus to this high-growth business while further capitalizing on the strength of our acquisitions of Web Benefits Design Corporation ("WBD") in April 2019 and DirectPath in February 2021. The Consumer and Worksite Divisions are primarily focused on marketing insurance products, several types of which are sold in both divisions and underwritten in the same manner. Sales of group underwritten policies are currently not significant, but are expected to increase within the Worksite Division. The investment segment involves the management of our capital resources, including investments and the management of corporate debt and liquidity. Our measure of profitability of this segment is the total net investment income not allocated to the insurance products. Investment income not allocated to product lines represents net investment income less: (i) equity returns credited to policyholder account balances; (ii) the investment income allocated to our product lines; (iii) interest expense on notes payable and investment borrowings; (iv) expenses related to the FABN program; and (v) certain expenses related to benefit plans that are offset by special-purpose investment income. Investment income not allocated to product lines includes investment income on investments in excess of amounts allocated to product lines, investments held by our holding companies, the spread we earn from our FHLB investment borrowing and FABN programs and variable components of investment income (including call and prepayment income, adjustments to returns on structured securities due to cash flow changes, income (loss) from COLI and alternative investments income not allocated to product lines), net of interest expense on corporate debt. The spread earned from our FHLB investment borrowing and FABN programs includes the investment income on the matched assets less: (i) interest on investment borrowings related to the FHLB investment borrowing program; (ii) interest credited on funding agreements; and (iii) amortization of deferred acquisition costs related to the FABN program. Our fee income segment includes the earnings generated from sales of third-party insurance products, services provided by WBD (our on-line benefit administration firm), Optavise (a national provider of year-round technology-driven employee benefits management services) and the operations of our broker/dealer and registered investment advisor. Expenses not allocated to product lines include the expenses of our corporate operations, excluding interest expense on debt. We measure segment performance by excluding total investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes related to the agent deferred compensation plan, income taxes and other non-operating items consisting primarily of earnings attributable to VIEs ("pre-tax operating earnings") because we believe that this performance measure is a better indicator of the ongoing business and trends in our business. Our primary investment focus is on investment income to support our liabilities for insurance products as opposed to the generation of investment gains (losses), and a long-term focus is necessary to maintain profitability over the life of the business. Investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes related to the agent deferred compensation plan and other non-operating items consisting primarily of earnings attributable to VIEs depend on market conditions or represent unusual items that do not necessarily relate to the underlying business of our segments. Investment gains (losses) and fair value changes in embedded derivative liabilities (net of related amortization) may affect future earnings levels since our underlying business is long-term in nature and changes in our investment portfolio may impact our ability to earn the assumed interest rates needed to maintain the profitability of our business.
Marketable Securities	Future events may occur, or additional information may become available, which may necessitate future realized losses in our portfolio.  Significant losses could have a material adverse effect on our consolidated financial statements in future periods.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Terms of Federal Home Loan Bank Borrowing	The following summarizes the terms of the borrowings from the FHLB by our insurance subsidiaries (dollars in millions): Amount Maturity Interest rate at borrowed date December 31, 2022 $ 20.8 March 2023 Fixed rate – 2.160% 50.0 July 2023 Variable rate – 4.490% 100.0 July 2023 Variable rate – 4.490% 50.0 July 2023 Variable rate – 4.490% 100.0 April 2024 Variable rate – 4.262% 50.0 May 2024 Variable rate – 4.919% 22.0 May 2024 Variable rate – 4.764% 100.0 July 2024 Variable rate – 4.058% 15.5 July 2024 Fixed rate – 1.990% 34.5 July 2024 Variable rate – 4.782% 15.0 July 2024 Variable rate – 4.865% 27.0 August 2024 Fixed rate – .640% 25.0 September 2024 Variable rate – 5.031% 21.7 May 2025 Variable rate – 4.313% 18.5 June 2025 Fixed rate – 2.940% 125.0 September 2025 Variable rate – 4.650% 100.0 October 2025 Variable rate – 4.583% 100.0 October 2025 Variable rate – 4.512% 57.7 October 2025 Variable rate – 4.600% 50.0 November 2025 Variable rate – 4.532% 50.0 January 2026 Variable rate – 4.519% 50.0 January 2026 Variable rate – 4.589% 100.0 January 2026 Variable rate – 4.582% 21.8 May 2026 Variable rate – 4.472% 50.0 May 2026 Variable rate – 4.570% 75.0 December 2026 Variable rate – 4.526% 50.0 April 2027 Variable rate – 4.322% 50.0 May 2027 Variable rate – 4.332% 100.0 June 2027 Variable rate – 4.670% 10.0 June 2027 Variable rate – 4.893% $ 1,639.5
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The impact of adoption, using the modified retrospective approach, was as follows (dollars in millions): January 1, 2020 Amounts prior to effect of adoption of authoritative guidance Effect of adoption of authoritative guidance As adjusted Fixed maturities, available for sale $ 21,295.2 $ (2.1) $ 21,293.1 Mortgage loans 1,566.1 (6.7) 1,559.4 Investments held by variable interest entities 1,188.6 (9.9) 1,178.7 Income tax assets, net 432.6 4.9 437.5 Reinsurance receivables 4,785.7 (4.0) 4,781.7 Total assets 33,630.9 (17.8) 33,613.1 Retained earnings 535.7 (17.8) 517.9 Total shareholders' equity 4,677.0 (17.8) 4,659.2

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Fixed Maturities for Available for Sale and Equity Securities	At December 31, 2022, the amortized cost, gross unrealized gains, gross unrealized losses, allowance for credit losses and estimated fair value of fixed maturities, available for sale, were as follows (dollars in millions): Amortized Gross Gross Allowance for credit losses Estimated Investment grade (a): Corporate securities $ 13,043.6 $ 28.9 $ (1,858.4) $ (37.0) $ 11,177.1 United States Treasury securities and obligations of United States government corporations and agencies 171.7 — (13.0) — 158.7 States and political subdivisions 2,836.3 19.3 (476.0) (.8) 2,378.8 Foreign governments 86.3 .1 (11.3) (.4) 74.7 Asset-backed securities 1,312.5 1.0 (130.1) (.3) 1,183.1 Agency residential mortgage-backed securities 174.3 1.4 (.7) — 175.0 Non-agency residential mortgage-backed securities 1,122.6 6.0 (174.3) — 954.3 Collateralized loan obligations 825.2 .3 (39.6) — 785.9 Commercial mortgage-backed securities 2,401.3 .1 (254.1) — 2,147.3 Total investment grade fixed maturities, available for sale 21,973.8 57.1 (2,957.5) (38.5) 19,034.9 Below-investment grade (a) (b): Corporate securities 605.5 1.0 (53.5) (17.4) 535.6 States and political subdivisions 10.6 — (.8) (.1) 9.7 Asset-backed securities 123.2 — (19.3) — 103.9 Non-agency residential mortgage-backed securities 577.8 34.0 (17.6) — 594.2 Commercial mortgage-backed securities 93.3 — (18.2) — 75.1 Total below-investment grade fixed maturities, available for sale 1,410.4 35.0 (109.4) (17.5) 1,318.5 Total fixed maturities, available for sale $ 23,384.2 $ 92.1 $ (3,066.9) $ (56.0) $ 20,353.4 _______________ (a) Investment ratings are assigned the second lowest rating by Nationally Recognized Statistical Rating Organizations ("NRSROs") (Moody's Investor Services, Inc. ("Moody's"), S&P Global Ratings ("S&P") or Fitch Ratings ("Fitch")), or if not rated by such firms, the rating assigned by the National Association of Insurance Commissioners (the "NAIC"). NAIC designations of "1" or "2" include fixed maturities generally rated investment grade (rated "Baa3" or higher by Moody's or rated "BBB-" or higher by S&P and Fitch). NAIC designations of "3" through "6" are referred to as below-investment grade (which generally are rated "Ba1" or lower by Moody's or rated "BB+" or lower by S&P and Fitch). References to investment grade or below-investment grade throughout our consolidated financial statements are determined as described above. (b) Certain structured securities rated below-investment grade by NRSROs may be assigned a NAIC 1 or NAIC 2 designation based on the cost basis of the security relative to estimated recoverable amounts as determined by the NAIC. Refer to the table below for a summary of our fixed maturity securities, available for sale, by NAIC designations. At December 31, 2021, the amortized cost, gross unrealized gains, gross unrealized losses, allowance for credit losses and estimated fair value of fixed maturities, available for sale, were as follows (dollars in millions): Amortized Gross Gross Allowance for credit losses Estimated Investment grade: Corporate securities $ 12,384.0 $ 2,229.5 $ (20.2) $ (4.3) $ 14,589.0 United States Treasury securities and obligations of United States government corporations and agencies 166.2 54.3 (.9) — 219.6 States and political subdivisions 2,637.4 356.7 (1.5) — 2,992.6 Foreign governments 85.4 13.6 (.3) (.2) 98.5 Asset-backed securities 983.1 35.2 (1.9) — 1,016.4 Agency residential mortgage-backed securities 36.7 3.7 — — 40.4 Non-agency residential mortgage-backed securities 1,141.0 28.4 (2.9) — 1,166.5 Collateralized loan obligations 574.2 2.3 (1.2) — 575.3 Commercial mortgage-backed securities 2,064.6 76.3 (8.7) — 2,132.2 Total investment grade fixed maturities, available for sale 20,072.6 2,800.0 (37.6) (4.5) 22,830.5 Below-investment grade: Corporate securities 811.4 55.0 (1.5) (3.1) 861.8 States and political subdivisions 11.6 — — — 11.6 Asset-backed securities 145.9 1.8 (1.2) — 146.5 Non-agency residential mortgage-backed securities 729.4 128.1 (.2) — 857.3 Collateralized loan obligations 13.1 — (.1) — 13.0 Commercial mortgage-backed securities 83.6 1.6 (.5) — 84.7 Total below-investment grade fixed maturities, available for sale 1,795.0 186.5 (3.5) (3.1) 1,974.9 Total fixed maturities, available for sale $ 21,867.6 $ 2,986.5 $ (41.1) $ (7.6) $ 24,805.4
Schedule of NAIC Designations and NRSRO Equivalent Ratings	The following summarizes the NAIC designations and NRSRO equivalent ratings: NAIC Designation NRSRO Equivalent Rating 1 AAA/AA/A 2 BBB 3 BB 4 B 5 CCC and lower 6 In or near default
Summary of Fixed Maturity Securities Available for Sale	A summary of our fixed maturity securities, available for sale, by NAIC designations (or for fixed maturity securities held by non-regulated entities, based on NRSRO ratings) as of December 31, 2022 is as follows (dollars in millions): NAIC designation Amortized cost Estimated fair value Percentage of total estimated fair value 1 $ 14,205.4 $ 12,385.7 60.9 % 2 8,407.1 7,294.9 35.8 Total NAIC 1 and 2 (investment grade) 22,612.5 19,680.6 96.7 3 606.9 535.8 2.6 4 145.5 125.9 .6 5 18.3 11.1 .1 6 1.0 — — Total NAIC 3,4,5 and 6 (below-investment grade) 771.7 672.8 3.3 $ 23,384.2 $ 20,353.4 100.0 %
Schedule of Accumulated Other Comprehensive Income (Loss)	These amounts, included in shareholders' equity as of December 31, 2022 and 2021, were as follows (dollars in millions): 2022 2021 Net unrealized gains (losses) on investments having no allowance for credit losses $ (1,247.0) $ 2,963.3 Unrealized losses on investments with an allowance for credit losses (1,780.7) (23.1) Adjustment to present value of future profits (a) 8.2 (8.3) Adjustment to deferred acquisition costs 331.7 (420.2) Adjustment to insurance liabilities — (25.5) Deferred income tax assets (liabilities) 594.7 (539.1) Accumulated other comprehensive income (loss) $ (2,093.1) $ 1,947.1 ________ (a) The present value of future profits is the value assigned to the right to receive future cash flows from contracts existing at September 10, 2003, the date our Predecessor emerged from bankruptcy.
Schedule of Investments Classified by Contractual Maturity Date	The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale, at December 31, 2022, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Structured securities (such as asset-backed securities, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, collateralized loan obligations and commercial mortgage-backed securities, collectively referred to as "structured securities") frequently include provisions for periodic principal payments and permit periodic unscheduled payments. Amortized Estimated (Dollars in millions) Due in one year or less $ 112.0 $ 110.8 Due after one year through five years 1,913.7 1,790.2 Due after five years through ten years 2,098.9 1,910.4 Due after ten years 12,629.4 10,523.2 Subtotal 16,754.0 14,334.6 Structured securities 6,630.2 6,018.8 Total fixed maturities, available for sale $ 23,384.2 $ 20,353.4
Schedule of Investment Income	Net investment income consisted of the following (dollars in millions): 2022 2021 2020 General account assets: Fixed maturities $ 1,084.1 $ 962.6 $ 924.8 Equity securities 5.9 4.3 3.0 Mortgage loans 63.0 65.0 79.5 Policy loans 8.4 8.2 8.5 Other invested assets 38.0 124.8 84.0 Cash and cash equivalents 5.9 .3 2.6 Policyholder and other special-purpose portfolios: Trading securities 7.7 7.2 28.1 Options related to fixed indexed products: Option income (loss) (6.3) 212.0 35.0 Change in value of options (200.3) 8.9 4.5 Other special-purpose portfolios 35.8 52.4 75.9 Gross investment income 1,042.2 1,445.7 1,245.9 Less investment expenses 26.3 25.0 23.4 Net investment income $ 1,015.9 $ 1,420.7 $ 1,222.5
Schedule of Realized Gain (Loss) on Investments	The following table sets forth the total investment gains (losses) for the periods indicated (dollars in millions): 2022 2021 2020 Realized investment gains (losses): Gross realized gains on sales of fixed maturities, available for sale $ 99.8 $ 51.6 $ 48.6 Gross realized losses on sales of fixed maturities, available for sale (104.0) (20.4) (53.7) Equity securities, net (8.3) (2.9) (3.3) Other, net (5.4) (7.0) (10.0) Total realized investment gains (losses) (17.9) 21.3 (18.4) Change in allowance for credit losses and impairments of other investments (a) (52.6) 12.2 (18.5) Change in fair value of equity securities (b) (2.9) (7.3) (1.8) Other changes in fair value (c) (62.0) (7.1) 2.5 Other investment losses (117.5) (2.2) (17.8) Total investment gains (losses) $ (135.4) $ 19.1 $ (36.2) _________________ (a) Changes in the allowance for credit losses includes $(1.8) million, $11.4 million and $(5.2) million for the years ended December 31, 2022, 2021 and 2020, respectively, related to investments held by VIEs. (b) Changes in the estimated fair value of equity securities (that are still held as of the end of the respective years) were $(7.3) million, $(7.8) million and $(1.7) million for the years ended December 31, 2022, 2021 and 2020, respectively. (c) Changes in the estimated fair value of trading securities that we have elected the fair value option (that are still held as of the end of the respective years) were $(43.3) million, $(3.1) million and $0.4 million for the years ended December 31, 2022, 2021 and 2020, respectively.
Summary of the Investments Sold at a Loss during 2022 Which had been Continuously in an Unrealized Loss Position	The following summarizes the investments sold at a loss during 2022 which had been continuously in an unrealized loss position exceeding 20 percent of the amortized cost basis prior to the sale for the period indicated (dollars in millions): At date of sale Number Amortized cost Fair value Less than 6 months prior to sale 21 $ 85.6 $ 51.8 Greater than or equal to 6 months and less than 12 months prior to sale 3 6.1 4.2 $ 91.7 $ 56.0 The following summarizes the investments in our portfolio rated below-investment grade not deemed to have credit losses which have been continuously in an unrealized loss position exceeding 20 percent of the cost basis for the period indicated as of December 31, 2022 (dollars in millions): Number Cost Unrealized Estimated Less than 6 months 6 $ 47.5 $ (11.1) $ 36.4 Greater than or equal to 6 months and less than 12 months 5 33.6 (10.3) 23.3 Total $ 81.1 $ (21.4) $ 59.7 The following summarizes the investments sold at a loss during 2022 which had been continuously in an unrealized loss position exceeding 20 percent of the amortized cost basis prior to the sale for the period indicated (dollars in millions): At date of sale Number Amortized cost Fair value Less than 6 months prior to sale 3 $ 7.0 $ 3.9 Greater than or equal to 6 months and less than 12 months prior to sale 2 1.7 .6 $ 8.7 $ 4.5 The following summarizes the investments held by the VIEs rated below-investment grade not deemed to have credit losses which have been continuously in an unrealized loss position exceeding 20 percent of the cost basis for the period indicated as of December 31, 2022 (dollars in millions): Number Cost Unrealized Estimated Less than 6 months 5 $ 13.2 $ (3.9) $ 9.3
Schedule of Investments with Unrealized Losses Classified By Contractual Maturity Date	The following table sets forth the amortized cost and estimated fair value of those fixed maturities, available for sale, with unrealized losses at December 31, 2022, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Structured securities frequently include provisions for periodic principal payments and permit periodic unscheduled payments. Amortized Estimated (Dollars in millions) Due in one year or less $ 91.2 $ 89.8 Due after one year through five years 1,741.9 1,615.5 Due after five years through ten years 1,845.3 1,649.8 Due after ten years 11,631.2 9,485.8 Subtotal 15,309.6 12,840.9 Structured securities 6,040.1 5,385.9 Total $ 21,349.7 $ 18,226.8
Summary of the Unrealized Losses and Fair Value of Investments	The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at December 31, 2022 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair Unrealized Fair Unrealized Fair Unrealized Corporate securities $ 2,830.8 $ (329.4) $ 370.4 $ (129.3) $ 3,201.2 $ (458.7) United States Treasury securities and obligations of United States government corporations and agencies 134.4 (9.6) 21.9 (3.4) 156.3 (13.0) States and political subdivisions 667.0 (124.8) 132.1 (58.5) 799.1 (183.3) Foreign governments 35.0 (3.5) 2.1 (.3) 37.1 (3.8) Asset-backed securities 914.0 (90.1) 258.1 (53.4) 1,172.1 (143.5) Agency residential mortgage-backed securities 59.7 (.7) — — 59.7 (.7) Non-agency residential mortgage-backed securities 861.6 (89.7) 335.4 (102.2) 1,197.0 (191.9) Collateralized loan obligations 553.0 (27.4) 184.2 (12.2) 737.2 (39.6) Commercial mortgage-backed securities 1,581.4 (160.0) 593.3 (112.3) 2,174.7 (272.3) Total fixed maturities, available for sale $ 7,636.9 $ (835.2) $ 1,897.5 $ (471.6) $ 9,534.4 $ (1,306.8) The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at December 31, 2021 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair Unrealized Fair Unrealized Fair Unrealized Corporate securities $ 87.8 $ (.4) $ 9.2 $ (.1) $ 97.0 $ (.5) United States Treasury securities and obligations of United States government corporations and agencies 5.7 — 18.7 (.9) 24.4 (.9) States and political subdivisions 47.3 (.4) — — 47.3 (.4) Asset-backed securities 210.8 (2.4) 17.8 (.7) 228.6 (3.1) Non-agency residential mortgage-backed securities 380.8 (3.1) 2.3 — 383.1 (3.1) Collateralized loan obligations 271.5 (1.2) 32.8 (.1) 304.3 (1.3) Commercial mortgage-backed securities 694.7 (7.6) 41.4 (1.6) 736.1 (9.2) Total fixed maturities, available for sale $ 1,698.6 $ (15.1) $ 122.2 $ (3.4) $ 1,820.8 $ (18.5)
Summary of Changes in the Allowance for Current Expected Credit Losses Related to Investments Held by Vies	The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the three years ended December 31, 2022 (dollars in millions): Corporate securities States and political subdivisions Foreign governments Asset-backed securities Non-agency residential mortgage-backed securities Total Allowance at January 1, 2020 $ 2.1 $ — $ — $ — $ — $ 2.1 Additions for securities for which credit losses were not previously recorded 23.6 .7 .1 .3 1.0 25.7 Additions for purchased securities with deteriorated credit — — — — — — Additions (reductions) for securities where an allowance was previously recorded (22.3) (.4) (.1) (.3) (1.0) (24.1) Reduction for securities sold during the period (1.5) — — — — (1.5) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — — — — — — Write-offs — — — — — — Recoveries of previously written-off amount — — — — — — Allowance at December 31, 2020 1.9 .3 — — — 2.2 Additions for securities for which credit losses were not previously recorded 6.1 .1 .1 — — 6.3 Additions for purchased securities with deteriorated credit — — — — — — Additions (reductions) for securities where an allowance was previously recorded .2 (.4) .2 — — — Reduction for securities sold during the period (.8) — (.1) — — (.9) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — — — — — — Write-offs — — — — — — Recoveries of previously written-off amount — — — — — — Allowance at December 31, 2021 7.4 — .2 — — 7.6 Additions for securities for which credit losses were not previously recorded 48.9 .7 .5 .3 — 50.4 Additions for purchased securities with deteriorated credit — — — — — — Additions (reductions) for securities where an allowance was previously recorded 10.3 .3 (.3) — — 10.3 Reduction for securities sold during the period (12.2) (.1) — — — (12.3) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — — — — — — Write-offs — — — — — — Recoveries of previously written-off amount — — — — — — Allowance at December 31, 2022 $ 54.4 $ .9 $ .4 $ .3 $ — $ 56.0 The following table summarizes changes in the allowance for credit losses related to investments held by VIEs for the three years ended December 31, 2022 (dollars in millions): Corporate securities Allowance at January 1, 2020 $ 9.9 Additions for securities for which credit losses were not previously recorded 26.6 Additions for purchased securities with deteriorated credit — Additions (reductions) for securities where an allowance was previously recorded (15.7) Reduction for securities sold during the period (5.7) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — Write-offs — Recoveries of previously written-off amount — Allowance at December 31, 2020 15.1 Additions for securities for which credit losses were not previously recorded 1.3 Additions for purchased securities with deteriorated credit — Additions (reductions) for securities where an allowance was previously recorded (2.9) Reduction for securities sold during the period (9.8) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — Write-offs — Recoveries of previously written-off amount — Allowance at December 31, 2021 3.7 Additions for securities for which credit losses were not previously recorded 7.8 Additions for purchased securities with deteriorated credit — Additions (reductions) for securities where an allowance was previously recorded (3.0) Reduction for securities sold during the period (3.0) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — Write-offs — Recoveries of previously written-off amount — Allowance at December 31, 2022 $ 5.5
Schedule of Structured Securities	The amortized cost and estimated fair value of structured securities at December 31, 2022, summarized by type of security, were as follows (dollars in millions): Estimated fair value Type Amortized Amount Percent Asset-backed securities $ 1,435.7 $ 1,287.0 6.3 % Agency residential mortgage-backed securities 174.3 175.0 .9 Non-agency residential mortgage-backed securities 1,700.4 1,548.5 7.6 Collateralized loan obligations 825.2 785.9 3.9 Commercial mortgage-backed securities 2,494.6 2,222.4 10.9 Total structured securities $ 6,630.2 $ 6,018.8 29.6 %
Summary of Carrying Value and Estimated Fair Value of Outstanding Commercial Mortgage Loans and Underlying Collateral	The following table provides the amortized cost by year of origination and estimated fair value of our outstanding commercial mortgage loans and the underlying collateral as of December 31, 2022 (dollars in millions): Estimated fair Loan-to-value ratio (a) 2022 2021 2020 2019 2018 Prior Total amortized cost Mortgage loans Collateral Less than 60% $ 234.1 $ 114.7 $ 43.5 $ 75.4 $ 66.5 $ 476.3 $ 1,010.5 $ 889.8 $ 4,027.6 60% to less than 70% 47.2 13.2 — — 8.2 45.0 113.6 104.7 170.7 70% to less than 80% 33.0 22.6 — — — — 55.6 47.2 72.3 80% to less than 90% — — — — — 42.5 42.5 34.5 52.0 90% or greater — — — — — 10.0 10.0 6.7 10.7 Total $ 314.3 $ 150.5 $ 43.5 $ 75.4 $ 74.7 $ 573.8 $ 1,232.2 $ 1,082.9 $ 4,333.3 ________________ (a) Loan-to-value ratios are calculated as the ratio of: (i) the amortized cost of the commercial mortgage loans; to (ii) the estimated fair value of the underlying collateral.
Schedule of Allowance For Credit Losses	The following table summarizes changes in the allowance for credit losses related to mortgage loans for the three years ended December 31, 2022 (dollars in millions): Mortgage loans Allowance for credit losses at January 1, 2020 $ 6.7 Current period provision for expected credit losses 5.1 Initial allowance recognized for purchased financial assets with credit deterioration — Write-offs charged against the allowance — Recoveries of amounts previously written off — Allowance for credit losses at December 31, 2020 11.8 Current period provision for expected credit losses (6.2) Initial allowance recognized for purchased financial assets with credit deterioration — Write-offs charged against the allowance — Recoveries of amounts previously written off — Allowance for credit losses at December 31, 2021 5.6 Current period provision for expected credit losses 2.4 Initial allowance recognized for purchased financial assets with credit deterioration — Write-offs charged against the allowance — Recoveries of amounts previously written off — Allowance for credit losses at December 31, 2022 $ 8.0

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Carried at Fair Value Categorized by Input Level	The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2022 is as follows (dollars in millions): Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 11,584.9 $ 127.8 $ 11,712.7 United States Treasury securities and obligations of United States government corporations and agencies — 158.7 — 158.7 States and political subdivisions — 2,388.5 — 2,388.5 Foreign governments — 74.7 — 74.7 Asset-backed securities — 1,230.0 57.0 1,287.0 Agency residential mortgage-backed securities — 175.0 — 175.0 Non-agency residential mortgage-backed securities — 1,492.3 56.2 1,548.5 Collateralized loan obligations — 782.5 3.4 785.9 Commercial mortgage-backed securities — 2,207.9 14.5 2,222.4 Total fixed maturities, available for sale — 20,094.5 258.9 20,353.4 Equity securities - corporate securities 59.6 — 75.7 135.3 Trading securities: Asset-backed securities — 15.1 — 15.1 Agency residential mortgage-backed securities — .3 — .3 Non-agency residential mortgage-backed securities — 60.2 .5 60.7 Commercial mortgage-backed securities — 131.8 — 131.8 Total trading securities — 207.4 .5 207.9 Investments held by variable interest entities - corporate securities — 1,077.6 — 1,077.6 Other invested assets: Derivatives — 56.7 — 56.7 Residential tranches — — 18.3 18.3 Total other invested assets — 56.7 18.3 75.0 Assets held in separate accounts — 2.7 — 2.7 Total assets carried at fair value by category $ 59.6 $ 21,438.9 $ 353.4 $ 21,851.9 Liabilities: Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) $ — $ — $ 1,297.0 $ 1,297.0 The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2021 is as follows (dollars in millions): Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 15,361.1 $ 89.7 $ 15,450.8 United States Treasury securities and obligations of United States government corporations and agencies — 219.6 — 219.6 States and political subdivisions — 3,004.2 — 3,004.2 Foreign governments — 98.5 — 98.5 Asset-backed securities — 1,136.3 26.6 1,162.9 Agency residential mortgage-backed securities — 40.4 — 40.4 Non-agency residential mortgage-backed securities — 2,023.8 — 2,023.8 Collateralized loan obligations — 583.3 5.0 588.3 Commercial mortgage-backed securities — 2,197.9 19.0 2,216.9 Total fixed maturities, available for sale — 24,665.1 140.3 24,805.4 Equity securities - corporate securities 100.8 18.8 11.5 131.1 Trading securities: Asset-backed securities — 5.8 — 5.8 Agency residential mortgage-backed securities — .4 — .4 Non-agency residential mortgage-backed securities — 77.5 3.5 81.0 Commercial mortgage-backed securities — 127.1 12.9 140.0 Total trading securities — 210.8 16.4 227.2 Investments held by variable interest entities - corporate securities — 1,197.4 2.2 1,199.6 Other invested assets - derivatives — 227.5 — 227.5 Assets held in separate accounts — 3.9 — 3.9 Total assets carried at fair value by category $ 100.8 $ 26,323.5 $ 170.4 $ 26,594.7 Liabilities: Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) $ — $ — $ 1,724.1 $ 1,724.1 The fair value of our financial instruments disclosed at fair value on a recurring basis are as follows (dollars in millions): December 31, 2022 Quoted prices in active markets for identical assets or liabilities Significant other observable inputs Significant unobservable inputs Total estimated fair value Total carrying amount Assets: Mortgage loans $ — $ — $ 1,273.6 $ 1,273.6 $ 1,411.9 Policy loans — — 121.6 121.6 121.6 Other invested assets: Company-owned life insurance — 199.1 — 199.1 199.1 Cash and cash equivalents: Unrestricted 575.7 — — 575.7 575.7 Held by variable interest entities 69.2 — — 69.2 69.2 Liabilities: Policyholder account liabilities — — 14,858.3 14,858.3 14,858.3 Investment borrowings — 1,640.5 — 1,640.5 1,639.5 Borrowings related to variable interest entities — 1,066.3 — 1,066.3 1,104.6 Notes payable – direct corporate obligations — 1,077.0 — 1,077.0 1,138.8 December 31, 2021 Quoted prices in active markets for identical assets or liabilities Significant other observable inputs Significant unobservable inputs Total estimated fair value Total carrying amount Assets: Mortgage loans $ — $ — $ 1,297.5 $ 1,297.5 $ 1,218.6 Policy loans — — 120.2 120.2 120.2 Other invested assets: Company-owned life insurance — 207.0 — 207.0 207.0 Cash and cash equivalents: Unrestricted 632.1 — — 632.1 632.1 Held by variable interest entities 99.6 — — 99.6 99.6 Liabilities: Policyholder account liabilities — — 13,689.7 13,689.7 13,689.7 Investment borrowings — 1,719.6 — 1,719.6 1,715.8 Borrowings related to variable interest entities — 1,144.8 — 1,144.8 1,147.9 Notes payable – direct corporate obligations — 1,283.4 — 1,283.4 1,137.3 The following table presents additional information about assets measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the year ended December 31, 2022 (dollars in millions): December 31, 2022 Beginning balance as of December 31, 2021 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of December 31, 2022 Amount of total gains (losses) for the year ended December 31, 2022 included in our net income relating to assets still held as of the reporting date Amount of total gains (losses) for the year ended December 31, 2022 included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 89.7 $ 15.2 $ (10.4) $ (35.5) $ 76.2 $ (7.4) $ 127.8 $ (9.8) $ (37.8) Asset-backed securities 26.6 38.1 (.1) (10.3) 2.7 — 57.0 — (10.3) Non-agency residential mortgage-backed securities — 14.3 (.3) (24.7) 66.9 — 56.2 — (24.7) Collateralized loan obligations 5.0 — — (.2) 3.6 (5.0) 3.4 — (.4) Commercial mortgage-backed securities 19.0 — — (4.5) — — 14.5 — (4.6) Total fixed maturities, available for sale 140.3 67.6 (10.8) (75.2) 149.4 (12.4) 258.9 (9.8) (77.8) Equity securities - corporate securities 11.5 63.9 .3 — — — 75.7 .4 — Trading securities: Non-agency residential mortgage-backed securities 3.5 — (.3) — .8 (3.5) .5 (.3) — Commercial mortgage-backed securities 12.9 — — — — (12.9) — — — Total trading securities 16.4 — (.3) — .8 (16.4) .5 (.3) — Investments held by variable interest entities - corporate securities 2.2 (2.1) (.1) — — — — — — Other invested assets - residual tranches — 18.6 — (2.1) 1.8 — 18.3 — (2.1) _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities. The following summarizes such activity for the year ended December 31, 2022 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 27.3 $ (12.1) $ — $ — $ 15.2 Asset-backed securities 41.0 (2.9) — — 38.1 Non-agency residential mortgage-backed securities 20.3 (6.0) — — 14.3 Total fixed maturities, available for sale 88.6 (21.0) — — 67.6 Equity securities - corporate securities 67.0 (3.1) — — 63.9 Investments held by variable interest entities - corporate securities — (2.1) — — (2.1) Other invested assets - residual tranches 18.6 — — — 18.6 The following table presents additional information about assets measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the year ended December 31, 2021 (dollars in millions): December 31, 2021 Beginning balance as of December 31, 2020 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of December 31, 2021 Amount of total gains (losses) for the year ended December 31, 2021 included in our net income relating to assets still held as of the reporting date Amount of total gains (losses) for the year ended December 31, 2021 included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 146.9 $ 25.0 $ (.5) $ 1.4 $ — $ (83.1) $ 89.7 $ (.5) $ (.6) Asset-backed securities 14.3 14.4 — (.1) — (2.0) 26.6 — (.1) Non-agency residential mortgage-backed securities 1.6 — — — — (1.6) — — — Collateralized loan obligations — 5.0 — — — — 5.0 — — Commercial mortgage-backed securities — 6.5 — (.7) 13.2 — 19.0 — (.8) Total fixed maturities, available for sale 162.8 50.9 (.5) .6 13.2 (86.7) 140.3 (.5) (1.5) Equity securities - corporate securities 26.8 (8.0) (7.3) — — — 11.5 (7.3) — Trading securities: Non-agency residential mortgage-backed securities 5.9 (2.5) (.4) .5 — — 3.5 (.4) — Commercial mortgage-backed securities 17.0 — (.1) .7 — (4.7) 12.9 (.1) — Total trading securities 22.9 (2.5) (.5) 1.2 — (4.7) 16.4 (.5) — Investments held by variable interest entities - corporate securities — (.2) — .1 2.3 — 2.2 — .1 ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities. The following summarizes such activity for the year ended December 31, 2021 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 25.2 $ (.2) $ — $ — $ 25.0 Asset-backed securities 15.0 (.6) — — 14.4 Collateralized loan obligations 5.0 — — — 5.0 Commercial mortgage-backed securities 6.5 — — — 6.5 Total fixed maturities, available for sale 51.7 (.8) — — 50.9 Equity securities - corporate securities .2 (8.2) — — (8.0) Trading securities - non-agency residential mortgage-backed securities — (2.5) — — (2.5) Investments held by variable interest entities - corporate securities — (.2) — — (.2) The following table summarizes changes in the value of our embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities) which are measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value (dollars in millions): 2022 2021 Balance at beginning of the period $ 1,724.1 $ 1,644.5 Premiums less benefits 61.4 103.1 Change in fair value, net (488.5) (23.5) Balance at end of the period $ 1,297.0 $ 1,724.1
Schedule of Fair Value Measurement Inputs	The following table provides additional information about the significant unobservable (Level 3) inputs developed internally by the Company to determine fair value for certain assets and liabilities carried at fair value at December 31, 2022 (dollars in millions): Fair value at December 31, 2022 Valuation techniques Unobservable inputs Range (weighted average) (a) Assets: Corporate securities (b) $ 2.9 Discounted cash flow analysis Discount margins 2.23% - 3.94% (2.25%) Corporate securities (c) 3.5 Recovery method Percent of recovery expected 0.00% - 35.00% (35.00%) Corporate securities (d) .5 Unadjusted purchase price Not applicable Not applicable Asset-backed securities (e) 21.8 Discounted cash flow analysis Discount margins 2.50% - 3.86% (3.30%) Equity securities (f) 63.9 Market comparables EBITDA multiples 8.5X Equity securities (g) .1 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Equity securities (h) 11.7 Unadjusted purchase price Not applicable Not applicable Other assets categorized as Level 3 (i) 249.0 Unadjusted third-party price source Not applicable Not applicable Total 353.4 Liabilities: Embedded derivatives related to fixed indexed annuity products (classified as policyholder account liabilities) (j) 1,297.0 Discounted projected embedded derivatives Projected portfolio yields 4.30% - 4.63% (4.31%) Discount rates 3.77% - 5.48% (4.47%) Surrender rates 1.90% - 27.70% (9.20%) ________________________________ (a) The weighted average is based on the relative fair value of the related assets or liabilities. (b) Corporate securities - The significant unobservable input used in the fair value measurement of our corporate securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would have resulted in a significantly lower (higher) fair value measurement. (c) Corporate securities - The significant unobservable input used in the fair value measurement of these corporate securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would have resulted in a significantly higher (lower) fair value measurement. (d) Corporate securities - For these assets, there were no adjustments to the purchase price. (e) Asset-backed securities - The significant unobservable input used in the fair value measurement of these asset-backed securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would have resulted in a significantly lower (higher) fair value measurement. (f) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is multiples of earnings before interest, taxes, depreciation and amortization ("EBITDA"). Generally, increases (decreases) in the EBITDA multiples would result in higher (lower) fair value measurements. (g) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would have resulted in a significantly higher (lower) fair value measurement. (h) Equity securities - For these assets, there were no adjustments to the purchase price. (i) Other assets categorized as Level 3 - For these assets, there were no adjustments to non-binding quoted market prices obtained from third-party pricing sources. (j) Embedded derivatives related to fixed indexed annuity products (classified as policyholder account liabilities) - The significant unobservable inputs used in the fair value measurement of our embedded derivatives associated with fixed indexed annuity products are projected portfolio yields, discount rates and surrender rates. Increases (decreases) in The following table provides additional information about the significant unobservable (Level 3) inputs developed internally by the Company to determine fair value for certain assets and liabilities carried at fair value at December 31, 2021 (dollars in millions): Fair value at December 31, 2021 Valuation techniques Unobservable inputs Range (weighted average) (a) Assets: Corporate securities (b) $ .1 Discounted cash flow analysis Discount margins 4.49% Corporate securities (c) 2.3 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Corporate securities (d) 12.5 Unadjusted purchase price Not applicable Not applicable Asset-backed securities (e) 11.6 Discounted cash flow analysis Discount margins 1.50% Equity securities (f) 3.3 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Equity securities (g) 8.2 Unadjusted purchase price Not applicable Not applicable Other assets categorized as Level 3 (h) 132.4 Unadjusted third-party price source Not applicable Not applicable Total 170.4 Liabilities: Embedded derivatives related to fixed indexed annuity products (classified as policyholder account liabilities) (i) 1,724.1 Discounted projected embedded derivatives Projected portfolio yields 3.98% - 4.37% (3.99%) Discount rates 0.31% - 3.18% (1.89%) Surrender rates 1.50% - 26.40% (9.00%) ________________________________ (a) The weighted average is based on the relative fair value of the related assets or liabilities. (b) Corporate securities - The significant unobservable input used in the fair value measurement of our corporate securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would have resulted in a significantly lower (higher) fair value measurement. (c) Corporate securities - The significant unobservable input used in the fair value measurement of these corporate securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would have resulted in a significantly higher (lower) fair value measurement. (d) Corporate securities - For these assets, there were no adjustments to the purchase price. (e) Asset-backed securities - The significant unobservable input used in the fair value measurement of these asset-backed securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would have resulted in a significantly lower (higher) fair value measurement. (f) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would have resulted in a significantly higher (lower) fair value measurement. (g) Equity securities - For these assets, there were no adjustments to the purchase price. (h) Other assets categorized as Level 3 - For these assets, there were no adjustments to non-binding quoted market prices obtained from third-party pricing sources.

LIABILITIES FOR INSURANCE PRO_2

LIABILITIES FOR INSURANCE PRODUCTS (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Insurance Liabilities by Product Segment	Our future policy benefits are summarized as follows (dollars in millions): Withdrawal assumption Morbidity assumption Mortality assumption Average interest rate assumption 2022 2021 Long-term care Company experience Company experience Company experience 5% $ 5,292.4 $ 5,236.1 Traditional life insurance contracts Company experience Not applicable (a) 5% 2,695.6 2,632.4 Accident and health contracts Company experience Company experience Company experience 5% 3,384.3 3,302.7 Interest-sensitive life insurance contracts Company experience Company experience Company experience 5% 53.5 73.6 Annuities and supplemental contracts with life contingencies Company experience Not applicable (b) 3% 383.3 425.9 Total $ 11,809.1 $ 11,670.7 ____________________ (a) Principally, modifications of: (i) the 1965 ‑ 70 and 1975 - 80 Basic Tables; and (ii) the 1941, 1958 and 1980 Commissioners' Standard Ordinary Tables; as well as Company experience. (b) Principally, modifications of: (i) the 1971 Individual Annuity Mortality Table; (ii) the 1983 Table "A"; and (iii) the Annuity 2000 Mortality Table; as well as Company experience. Our policyholder account liabilities are summarized as follows (dollars in millions): 2022 2021 Fixed indexed annuities $ 9,268.9 $ 8,891.7 Other annuities 2,855.6 3,014.2 Interest-sensitive life insurance contracts 1,323.0 1,281.8 Funding agreements 1,410.8 502.0 Total $ 14,858.3 $ 13,689.7
Summary of Liabilities for Unpaid Claims Adjustment Expense	Changes in the unpaid claims reserve (included in claims payable) and disabled life reserves related to accident and health insurance (included in the liability for future policy benefits) were as follows (dollars in millions): 2022 2021 2020 Balance, beginning of year $ 1,742.2 $ 1,825.0 $ 1,921.2 Less reinsurance (receivables) payables (814.6) (881.5) (993.2) Net balance, beginning of year 927.6 943.5 928.0 Incurred claims related to: Current year 1,177.8 1,205.0 1,177.8 Prior years (a) (111.2) (111.5) (75.2) Total incurred 1,066.6 1,093.5 1,102.6 Interest on claim reserves 33.1 34.8 36.8 Paid claims related to: Current year (789.6) (802.9) (766.1) Prior years (342.6) (341.3) (357.8) Total paid (1,132.2) (1,144.2) (1,123.9) Net balance, end of year 895.1 927.6 943.5 Add reinsurance receivables (payables) 863.2 814.6 881.5 Balance, end of year $ 1,758.3 $ 1,742.2 $ 1,825.0 ___________ (a) The reserves and liabilities we establish are necessarily based on estimates, assumptions and prior years' statistics. Such amounts will fluctuate based upon the estimation procedures used to determine the amount of unpaid losses. It is possible that actual claims will exceed our reserves and have a material adverse effect on our results of operations and financial condition.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	The components of income tax expense (benefit) were as follows (dollars in millions): 2022 2021 2020 Current tax expense (benefit) $ 31.8 $ 64.1 $ (24.0) Deferred tax expense 88.7 62.6 100.5 Income tax expense calculated based on annual effective tax rate 120.5 126.7 76.5 Income tax expense on discrete items: Carryback of net operating losses to years with a higher statutory corporate rate pursuant to provisions of the CARES Act (as defined below) — — (34.0) Total income tax expense $ 120.5 $ 126.7 $ 42.5
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the U.S. statutory corporate tax rate to the effective rate reflected in the consolidated statement of operations is as follows: 2022 2021 2020 U.S. statutory corporate rate 21.0 % 21.0 % 21.0 % Non-taxable income and nondeductible benefits, net (.4) (.5) (.4) State taxes 2.7 1.8 1.6 Carryback of net operating losses to years with a higher statutory corporate rate pursuant to provisions of the CARES Act — — (9.9) Effective tax rate 23.3 % 22.3 % 12.3 %
Schedule of Deferred Tax Assets and Liabilities	The components of the Company's income tax assets and liabilities are summarized below (dollars in millions): 2022 2021 Deferred tax assets: Net federal operating loss carryforwards $ 166.0 $ 241.4 Net state operating loss carryforwards 2.5 2.3 Insurance liabilities 322.2 390.7 Indirect costs allocable to self-constructed real estate assets 214.8 158.3 Accumulated other comprehensive loss 589.0 — Other 7.3 27.5 Gross deferred tax assets 1,301.8 820.2 Deferred tax liabilities: Investments (37.2) (48.2) Present value of future profits and deferred acquisition costs (107.1) (119.4) Accumulated other comprehensive income — (540.4) Gross deferred tax liabilities (144.3) (708.0) Net deferred tax assets 1,157.5 112.2 Current income taxes prepaid 8.0 6.1 Income tax assets, net $ 1,165.5 $ 118.3
Summary of Operating Loss Carryforwards	We have $0.8 billion of federal NOLs as of December 31, 2022, as summarized below (dollars in millions): Net operating loss Year of expiration carryforwards 2023 $ 203.7 2025 85.2 2026 149.9 2027 10.8 2028 80.3 2029 213.2 2030 .3 2031 .2 2032 44.4 2033 .6 2034 .9 2035 .8 Total federal non-life NOLs $ 790.3

NOTES PAYABLE - DIRECT CORPOR_2

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	The following notes payable were direct corporate obligations of the Company as of December 31, 2022 and 2021 (dollars in millions): 2022 2021 5.250% Senior Notes due May 2025 $ 500.0 $ 500.0 5.250% Senior Notes due May 2029 500.0 500.0 5.125% Subordinated Debentures due 2060 150.0 150.0 Revolving Credit Agreement (as defined below) — — Unamortized debt issuance costs (11.2) (12.7) Direct corporate obligations $ 1,138.8 $ 1,137.3
Schedule of Maturities of Long-Term Debt	The scheduled repayment of our direct corporate obligations was as follows at December 31, 2022 (dollars in millions): Year ending December 31, 2023 $ — 2024 — 2025 500.0 2026 — 2027 — Thereafter 650.0 $ 1,150.0

LITIGATION AND OTHER LEGAL PR_2

LITIGATION AND OTHER LEGAL PROCEEDINGS (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Information Related to Right to Use Assets and Weighted Average Information	Information related to our right of use assets are as follows (dollars in millions): 2022 2021 Operating lease expense $ 24.3 $ 24.6 Cash paid for operating lease liability 25.5 25.7 Right of use assets obtained in exchange for lease liabilities (non-cash transactions) 21.7 17.3 Total right of use assets 46.6 48.2 Weighted average remaining lease term (in years) 3.0 Weighted average discount rate 2.30 %
Maturities of Operating Lease Liabilities	Maturities of our operating lease liabilities as of December 31, 2022 are as follows (dollars in millions): 2023 $ 22.4 2024 13.5 2025 8.1 2026 4.8 2027 1.9 Thereafter .6 Total undiscounted lease payments 51.3 Less interest (1.7) Present value of lease liabilities $ 49.6

AGENT DEFERRED COMPENSATION P_2

AGENT DEFERRED COMPENSATION PLAN (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Schedule of Assumptions Used	We used the following assumptions for the deferred compensation plan to calculate: 2022 2021 Benefit obligations: Discount rate 5.25 % 2.75 % Net periodic cost: Discount rate 2.75 % 2.50 %
Schedule of Expected Benefit Payments	The benefits expected to be paid pursuant to our agent deferred compensation plan as of December 31, 2022 were as follows (dollars in millions): 2023 $ 8.1 2024 8.3 2025 8.5 2026 8.9 2027 8.9 2028 - 2032 44.7

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value by Balance Sheet Location	Our freestanding and embedded derivatives, which are not designated as hedging instruments, are held at fair value and are summarized as follows (dollars in millions): Fair value 2022 2021 Assets: Other invested assets: Fixed indexed call options $ 56.7 $ 225.0 Other — 2.5 Reinsurance receivables (17.8) (1.7) Total assets $ 38.9 $ 225.8 Liabilities: Policyholder account liabilities: Fixed indexed products $ 1,297.0 $ 1,724.1 Total liabilities $ 1,297.0 $ 1,724.1
Schedule of Derivative Instruments	The following table represents activity associated with derivative instruments as of the dates indicated: Measurement December 31, 2021 Additions Maturities/terminations December 31, 2022 Fixed indexed annuities - embedded derivative Policies 120,103 13,503 (10,120) 123,486 Fixed indexed call options Notional (a) $ 2,988.9 $ 2,835.7 $ (3,040.3) $ 2,784.3 _________________ (a) Dollars in millions.
Schedule Pre-Tax Gains (Losses) Recognized in Net Revenues for Derivative Instruments	The following table provides the pre-tax gains (losses) recognized in revenues for derivative instruments, which are not designated as hedges for the periods indicated (dollars in millions): 2022 2021 2020 Net investment income (loss) from policyholder and other special-purpose portfolios: Fixed indexed call options $ (206.6) $ 220.9 $ 39.5 Total investment gains (losses): Embedded derivative related to modified coinsurance agreement (16.1) (3.1) 2.6 Total revenues from derivative instruments, not designed as hedges $ (222.7) $ 217.8 $ 42.1
Schedule of Derivatives with Master Netting Arrangements	The following table summarizes information related to derivatives with master netting arrangements or collateral as of December 31, 2022 and 2021 (dollars in millions): Gross amounts not offset in the balance sheet Gross amounts recognized Gross amounts offset in the balance sheet Net amounts of assets presented in the balance sheet Financial instruments Cash collateral received Net amount December 31, 2022: Fixed indexed call options $ 56.7 $ — $ 56.7 $ — $ — $ 56.7 December 31, 2021: Fixed indexed call options 225.0 — 225.0 — — 225.0

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Share-based Compensation	A summary of the Company's stock option activity and related information for 2022 is presented below (shares in thousands; dollars in millions, except per share amounts): Shares Weighted average exercise price Weighted average remaining life (in years) Aggregate intrinsic value Outstanding at the beginning of the year 3,411 $ 19.28 Options granted — — Exercised (618) (18.43) $ 3.8 Forfeited or terminated (57) (20.18) Outstanding at the end of the year 2,736 19.45 4.7 $ 15.1 Options exercisable at the end of the year 2,540 4.6 $ 14.1 A summary of the Company's stock option activity and related information for 2021 is presented below (shares in thousands; dollars in millions, except per share amounts): Shares Weighted average exercise price Weighted average remaining life (in years) Aggregate intrinsic value Outstanding at the beginning of the year 4,544 $ 19.01 Options granted — — Exercised (1,023) (18.01) $ 7.8 Forfeited or terminated (110) (19.97) Outstanding at the end of the year 3,411 19.28 5.0 $ 19.2 Options exercisable at the end of the year 2,662 4.6 $ 15.7 A summary of the Company's stock option activity and related information for 2020 is presented below (shares in thousands; dollars in millions, except per share amounts): Shares Weighted average exercise price Weighted average remaining life (in years) Aggregate intrinsic value Outstanding at the beginning of the year 6,015 $ 18.59 Options granted — — Exercised (1,104) (16.59) $ 9.0 Forfeited or terminated (367) (19.40) Outstanding at the end of the year 4,544 19.01 5.6 $ 27.5 Options exercisable at the end of the year 2,946 4.5 $ 19.9
Schedule of Share-Based Compensation by Exercise Price Range	The following table summarizes information about stock options outstanding at December 31, 2022 (shares in thousands): Options outstanding Options exercisable Range of exercise prices Number outstanding Remaining life (in years) Average exercise price Number exercisable Average exercise price $15.08 - $21.06 2,412 4.7 $ 18.93 2,216 $ 18.80 $23.33 324 4.8 23.33 324 23.33 2,736 2,540
Schedule of Nonvested Share Activity	A summary of the Company's non-vested restricted stock activity for 2022 is presented below (shares in thousands): Shares Weighted average grant date fair value Non-vested shares, beginning of year 975 $ 20.30 Granted 509 23.59 Vested (418) (19.79) Forfeited (43) (23.52) Non-vested shares, end of year 1,023 22.01
Schedule of Performance Share-Based Compensation	A summary of the Company's performance units is presented below (shares in thousands): Total shareholder return awards Operating return on equity awards Operating earnings per share awards Awards outstanding at December 31, 2019 551 551 — Granted in 2020 — 247 247 Additional shares issued pursuant to achieving certain performance criteria (a) — 138 — Shares vested in 2020 — (281) — Forfeited (212) (74) (8) Awards outstanding at December 31, 2020 339 581 239 Granted in 2021 — 209 209 Additional shares issued pursuant to achieving certain performance criteria (a) — 57 — Shares vested in 2021 (81) (178) — Forfeited (55) (34) (23) Awards outstanding at December 31, 2021 203 635 425 Granted in 2022 — 204 204 Additional shares issued pursuant to achieving certain performance criteria (a) 188 186 — Shares vested in 2022 (389) (390) — Forfeited — (24) (25) Awards outstanding at December 31, 2022 2 611 604 _________________________ (a) The performance units that vested in 2020, 2021 and 2022 provided for a payout of up to 200 percent of the award if certain performance levels were achieved.
Schedule of Earnings Per Share Reconciliation	A reconciliation of net income and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands): 2022 2021 2020 Net income for basic earnings per share $ 396.8 $ 441.0 $ 301.8 Shares: Weighted average shares outstanding for basic earnings per share 115,733 128,400 142,096 Effect of dilutive securities on weighted average shares: Amounts related to employee benefit plans 1,984 2,726 1,068 Weighted average shares outstanding for diluted earnings per share 117,717 131,126 143,164

OTHER OPERATING STATEMENT DATA

OTHER OPERATING STATEMENT DATA (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Insurance Policy Income	Insurance policy income consisted of the following (dollars in millions): 2022 2021 2020 Direct premiums collected (a) $ 4,619.7 $ 4,457.7 $ 4,176.0 Reinsurance assumed 18.6 20.7 23.0 Reinsurance ceded (214.6) (231.3) (247.8) Premiums collected, net of reinsurance 4,423.7 4,247.1 3,951.2 Change in unearned premiums 9.8 .9 9.2 Less premiums on interest-sensitive life and products without mortality and morbidity risk which are recorded as additions to insurance liabilities (a) (2,123.6) (1,905.2) (1,620.1) Premiums on traditional products with mortality or morbidity risk 2,309.9 2,342.8 2,340.3 Fees and surrender charges on interest-sensitive products 189.9 180.6 171.0 Insurance policy income $ 2,499.8 $ 2,523.4 $ 2,511.3 ________________ (a) Excludes $899.0 million and $499.9 million in 2022 and 2021, respectively, of funds received from the issuance of funding agreements pursuant to our funding agreement-backed note ("FABN") program.
Schedule of Other Operating Cost and Expense	Other operating costs and expenses were as follows (dollars in millions): 2022 2021 2020 Commission expense $ 117.9 $ 116.4 $ 111.8 Salaries and wages 287.9 267.9 252.6 Other 548.8 603.0 577.6 Total other operating costs and expenses $ 954.6 $ 987.3 $ 942.0
Schedule of Changes in Deferred Acquisition Costs	Changes in deferred acquisition costs were as follows (dollars in millions): 2022 2021 2020 Balance, beginning of year $ 1,112.0 $ 1,027.8 $ 1,215.5 Additions 332.2 298.8 275.8 Amortization (282.7) (252.4) (233.4) Amounts related to changes in unrealized investment gains (losses) on fixed maturities, available for sale 751.9 37.8 (230.1) Balance, end of year $ 1,913.4 $ 1,112.0 $ 1,027.8
Schedule of Changes in Present Value of Future Insurance Profits	Changes in the present value of future profits were as follows (dollars in millions): 2022 2021 2020 Balance, beginning of year $ 222.6 $ 249.4 $ 275.4 Amortization (26.9) (28.7) (34.7) Amounts related to changes in unrealized investment gains (losses) on fixed maturities, available for sale 16.5 1.9 8.7 Balance, end of year $ 212.2 $ 222.6 $ 249.4

CONSOLIDATED STATEMENT OF CAS_3

CONSOLIDATED STATEMENT OF CASH FLOWS (Tables)	12 Months Ended
	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of the Reconciliation for Net Income Provided by Operating Activities	The following reconciles net income to net cash provided by operating activities (dollars in millions): 2022 2021 2020 Cash flows from operating activities: Net income $ 396.8 $ 441.0 $ 301.8 Adjustments to reconcile net income to net cash from operating activities: Amortization and depreciation 345.3 319.5 303.9 Income taxes 86.6 146.5 14.1 Insurance liabilities (175.6) 346.2 397.6 Accrual and amortization of investment income 138.7 (347.6) (125.2) Deferral of policy acquisition costs (332.2) (298.8) (275.8) Net investment (gains) losses 135.4 (19.1) 36.2 Other (a) (99.6) 10.6 82.9 Net cash from operating activities $ 495.4 $ 598.3 $ 735.5 _____________ (a) Primarily relates to: (i) changes in other assets and liabilities related to the timing of payments and receipts; and (ii) the change in fair value of the deferred compensation plan liability.
Schedule of Other Significant Noncash Transactions	Other non-cash items not reflected in the investing and financing activities sections of the consolidated statement of cash flows (dollars in millions): 2022 2021 2020 Stock options, restricted stock and performance units $ 25.2 $ 26.0 $ 24.5

STATUTORY INFORMATION (BASED _2

STATUTORY INFORMATION (BASED ON NON-GAAP MEASURES) (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Statutory Accounting Practices	The Company's insurance subsidiaries reported the following amounts to regulatory agencies, after appropriate elimination of intercompany accounts among such subsidiaries (dollars in millions): 2022 2021 Statutory capital and surplus $ 1,849.8 $ 1,799.6 Asset valuation reserve 305.8 332.5 Interest maintenance reserve 395.7 407.9 Total $ 2,551.3 $ 2,540.0

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	Operating information by segment is as follows (dollars in millions): 2022 2021 2020 Revenues: Annuity: Insurance policy income $ 23.1 $ 19.6 $ 18.8 Net investment income 466.8 462.4 465.1 Total annuity revenues 489.9 482.0 483.9 Health: Insurance policy income 1,617.3 1,661.5 1,699.5 Net investment income 287.6 287.7 282.3 Total health revenues 1,904.9 1,949.2 1,981.8 Life: Insurance policy income 859.4 842.3 793.0 Net investment income 146.2 144.7 139.6 Total life revenues 1,005.6 987.0 932.6 Change in market values of the underlying options supporting the fixed indexed annuity and life products (offset by market value changes credited to policyholder balances) (205.3) 219.8 37.8 Investment income not allocated to product lines 272.1 273.3 258.5 Fee revenue and other income: Fee income 169.3 147.6 106.0 Amounts netted in expenses not allocated to product lines 30.5 17.2 6.9 Total segment revenues $ 3,667.0 $ 4,076.1 $ 3,807.5 (continued on next page) (continued from previous page) 2022 2021 2020 Expenses: Annuity: Insurance policy benefits $ 124.3 $ (14.5) $ (93.7) Interest credited 178.1 149.1 170.6 Amortization and non-deferred commissions 26.4 77.1 110.3 Total annuity expenses 328.8 211.7 187.2 Health: Insurance policy benefits 1,241.0 1,266.3 1,329.7 Amortization and non-deferred commissions 186.6 189.9 192.3 Total health expenses 1,427.6 1,456.2 1,522.0 Life: Insurance policy benefits 585.2 613.5 570.0 Interest credited 47.4 44.4 44.5 Amortization, non-deferred commissions and advertising expense 200.1 178.7 153.1 Total life expenses 832.7 836.6 767.6 Allocated expenses 596.6 566.5 557.7 Expenses not allocated to product lines 71.3 95.4 90.7 Market value changes of options credited to fixed indexed annuity and life policyholders (205.3) 219.8 37.8 Amounts netted in investment income not allocated to product lines: Interest expense 96.0 72.2 76.4 Interest credited 28.5 2.2 — Amortization 1.5 .1 — Other expenses (13.4) 16.6 15.0 Expenses netted in fee revenue: Commissions and other operating expenses 145.6 128.2 89.3 Total segment expenses 3,309.9 3,605.5 3,343.7 Pre-tax measure of profitability: Annuity margin 161.1 270.3 296.7 Health margin 477.3 493.0 459.8 Life margin 172.9 150.4 165.0 Total insurance product margin 811.3 913.7 921.5 Allocated expenses (596.6) (566.5) (557.7) Income from insurance products 214.7 347.2 363.8 Fee income 23.7 19.4 16.7 Investment income not allocated to product lines 159.5 184.5 167.1 Expenses not allocated to product lines (40.8) (80.5) (83.8) Operating earnings before taxes 357.1 470.6 463.8 Income tax expense on operating income 83.2 105.0 101.5 Net operating income $ 273.9 $ 365.6 $ 362.3
Reconciliation of Operating Profit (Loss) From Segments to Consolidated	A reconciliation of segment revenues and expenses to consolidated revenues and expenses and net income is as follows (dollars in millions): 2022 2021 2020 Total segment revenues $ 3,667.0 $ 4,076.1 $ 3,807.5 Total investment gains (losses) (135.4) 19.1 (36.2) Revenues related to earnings attributable to VIEs 45.2 27.0 35.5 Fee revenue related to transition services agreement — — 14.3 Consolidated revenues 3,576.8 4,122.2 3,821.1 Total segment expenses 3,309.9 3,605.5 3,343.7 Insurance policy benefits - fair value changes in embedded derivative liabilities (340.9) (90.1) 99.0 Amortization related to fair value changes in embedded derivative liabilities 93.7 22.9 (19.9) Amortization related to investment gains (losses) (3.4) 1.7 (2.4) Expenses attributable to VIEs 43.0 24.4 33.8 Fair value changes related to agent deferred compensation plan (48.9) (8.9) 16.3 Expenses related to transition services agreement — — 8.8 Other expenses 6.1 (1.0) (2.5) Consolidated expenses 3,059.5 3,554.5 3,476.8 Income before tax 517.3 567.7 344.3 Income tax expense (benefit): Income tax expense on period income 120.5 126.7 76.5 Valuation allowance for deferred tax assets and other tax items — — (34.0) Net income $ 396.8 $ 441.0 $ 301.8
Schedule of Balance Sheet Information, by Segment	Segment balance sheet information was as follows (dollars in millions): 2022 2021 Assets: Annuity $ 11,323.9 $ 13,288.6 Health 9,221.6 10,558.7 Life 4,090.1 4,686.2 Investments not allocated to product lines 8,203.0 7,093.0 Assets of our non-life companies included in the fee income segment 207.7 194.0 Assets of our other non-life companies 292.9 383.9 Total assets $ 33,339.2 $ 36,204.4 Liabilities: Annuity $ 12,367.0 $ 12,283.3 Health 9,727.4 9,610.0 Life 4,317.9 4,279.5 Liabilities associated with investments not allocated to product lines (a) 5,293.8 4,502.9 Liabilities of our non-life companies included in the fee income segment 23.5 25.0 Liabilities of our other non-life companies 208.8 244.0 Total liabilities $ 31,938.4 $ 30,944.7 ____________ (a) Includes investment borrowings, policyholder account balances related to funding agreements, borrowings related to VIEs and notes payable - direct corporate obligations.
Schedule of Selected Financial Information, by Segment	The following table presents selected financial information of our segments (dollars in millions): Segment Present value of future profits Deferred acquisition costs Insurance liabilities 2022 Annuity $ 8.5 $ 655.1 $ 12,104.9 Health 189.7 636.4 9,642.1 Life 14.0 615.9 4,203.8 Amounts related to funding agreements included in investments not allocated to product lines — 6.0 1,410.8 Total $ 212.2 $ 1,913.4 $ 27,361.6 2021 Annuity $ — $ 126.4 $ 11,956.2 Health 205.9 509.0 9,508.7 Life 16.7 473.3 4,145.9 Amounts related to funding agreements included in investments not allocated to product lines — 3.3 502.0 Total $ 222.6 $ 1,112.0 $ 26,112.8

QUARTERLY FINANCIAL DATA (UNA_2

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	Quarterly financial data (unaudited) were as follows (dollars in millions, except per share data): 2022 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Revenues $ 842.9 $ 855.0 $ 905.3 $ 973.6 Income before income taxes $ 149.3 $ 175.4 $ 137.2 $ 55.4 Income tax expense 37.0 39.3 32.2 12.0 Net income $ 112.3 $ 136.1 $ 105.0 $ 43.4 Earnings per common share: Basic: Net income $ .95 $ 1.18 $ .92 $ .38 Diluted: Net income $ .93 $ 1.16 $ .91 $ .37 2021 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Revenues $ 1,006.0 $ 1,073.1 $ 968.3 $ 1,074.8 Income before income taxes $ 190.0 $ 101.6 $ 128.0 $ 148.1 Income tax expense 42.6 23.6 28.2 32.3 Net income $ 147.4 $ 78.0 $ 99.8 $ 115.8 Earnings per common share: Basic: Net income $ 1.10 $ .59 $ .79 $ .95 Diluted: Net income $ 1.08 $ .58 $ .77 $ .93

INVESTMENTS IN VARIABLE INTER_2

INVESTMENTS IN VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Impact on Balance Sheet of Consolidating Variable Interest Entities	The following table provides supplemental information about the assets and liabilities of the VIEs which have been consolidated (dollars in millions): December 31, 2022 VIEs Eliminations Net effect on Assets: Investments held by variable interest entities $ 1,077.6 $ — $ 1,077.6 Notes receivable of VIEs held by subsidiaries — (113.8) (113.8) Cash and cash equivalents held by variable interest entities 69.2 — 69.2 Accrued investment income 3.5 — 3.5 Income tax assets, net 19.6 — 19.6 Other assets 2.5 (.8) 1.7 Total assets $ 1,172.4 $ (114.6) $ 1,057.8 Liabilities: Other liabilities $ 29.3 $ (2.4) $ 26.9 Borrowings related to variable interest entities 1,104.6 — 1,104.6 Notes payable of VIEs held by subsidiaries 126.1 (126.1) — Total liabilities $ 1,260.0 $ (128.5) $ 1,131.5 December 31, 2021 VIEs Eliminations Net effect on Assets: Investments held by variable interest entities $ 1,199.6 $ — $ 1,199.6 Notes receivable of VIEs held by subsidiaries — (113.8) (113.8) Cash and cash equivalents held by variable interest entities 99.6 — 99.6 Accrued investment income 1.6 — 1.6 Income tax assets, net 8.4 — 8.4 Other assets 7.1 (.9) 6.2 Total assets $ 1,316.3 $ (114.7) $ 1,201.6 Liabilities: Other liabilities $ 89.5 $ (4.3) $ 85.2 Borrowings related to variable interest entities 1,147.9 — 1,147.9 Notes payable of VIEs held by subsidiaries 126.1 (126.1) — Total liabilities $ 1,363.5 $ (130.4) $ 1,233.1
Supplemental Information, Revenues and Expenses of Variable Interest Entities	The following table provides supplemental information about the revenues and expenses of the VIEs which have been consolidated in accordance with authoritative guidance, after giving effect to the elimination of our investment in the VIEs and investment management fees earned by a subsidiary of the Company (dollars in millions): 2022 2021 2020 Revenues: Net investment income – policyholder and other special-purpose portfolios $ 60.1 $ 45.6 $ 52.7 Fee revenue and other income 5.3 5.2 5.1 Total revenues 65.4 50.8 57.8 Expenses: Interest expense 41.0 23.2 32.4 Other operating expenses 2.0 1.2 1.4 Total expenses 43.0 24.4 33.8 Income before net investment gains (losses) and income taxes 22.4 26.4 24.0 Net investment gains (losses) (8.1) 3.6 (13.8) Income before income taxes $ 14.3 $ 30.0 $ 10.2
Summary of Changes in the Allowance for Current Expected Credit Losses Related to Investments Held by Vies	The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the three years ended December 31, 2022 (dollars in millions): Corporate securities States and political subdivisions Foreign governments Asset-backed securities Non-agency residential mortgage-backed securities Total Allowance at January 1, 2020 $ 2.1 $ — $ — $ — $ — $ 2.1 Additions for securities for which credit losses were not previously recorded 23.6 .7 .1 .3 1.0 25.7 Additions for purchased securities with deteriorated credit — — — — — — Additions (reductions) for securities where an allowance was previously recorded (22.3) (.4) (.1) (.3) (1.0) (24.1) Reduction for securities sold during the period (1.5) — — — — (1.5) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — — — — — — Write-offs — — — — — — Recoveries of previously written-off amount — — — — — — Allowance at December 31, 2020 1.9 .3 — — — 2.2 Additions for securities for which credit losses were not previously recorded 6.1 .1 .1 — — 6.3 Additions for purchased securities with deteriorated credit — — — — — — Additions (reductions) for securities where an allowance was previously recorded .2 (.4) .2 — — — Reduction for securities sold during the period (.8) — (.1) — — (.9) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — — — — — — Write-offs — — — — — — Recoveries of previously written-off amount — — — — — — Allowance at December 31, 2021 7.4 — .2 — — 7.6 Additions for securities for which credit losses were not previously recorded 48.9 .7 .5 .3 — 50.4 Additions for purchased securities with deteriorated credit — — — — — — Additions (reductions) for securities where an allowance was previously recorded 10.3 .3 (.3) — — 10.3 Reduction for securities sold during the period (12.2) (.1) — — — (12.3) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — — — — — — Write-offs — — — — — — Recoveries of previously written-off amount — — — — — — Allowance at December 31, 2022 $ 54.4 $ .9 $ .4 $ .3 $ — $ 56.0 The following table summarizes changes in the allowance for credit losses related to investments held by VIEs for the three years ended December 31, 2022 (dollars in millions): Corporate securities Allowance at January 1, 2020 $ 9.9 Additions for securities for which credit losses were not previously recorded 26.6 Additions for purchased securities with deteriorated credit — Additions (reductions) for securities where an allowance was previously recorded (15.7) Reduction for securities sold during the period (5.7) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — Write-offs — Recoveries of previously written-off amount — Allowance at December 31, 2020 15.1 Additions for securities for which credit losses were not previously recorded 1.3 Additions for purchased securities with deteriorated credit — Additions (reductions) for securities where an allowance was previously recorded (2.9) Reduction for securities sold during the period (9.8) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — Write-offs — Recoveries of previously written-off amount — Allowance at December 31, 2021 3.7 Additions for securities for which credit losses were not previously recorded 7.8 Additions for purchased securities with deteriorated credit — Additions (reductions) for securities where an allowance was previously recorded (3.0) Reduction for securities sold during the period (3.0) Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded — Write-offs — Recoveries of previously written-off amount — Allowance at December 31, 2022 $ 5.5
Summary of Variable Interest Entities by Contractual Maturity	The following table sets forth the amortized cost and estimated fair value of the investments held by the VIEs at December 31, 2022, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Amortized Estimated (Dollars in millions) Due in one year or less $ 11.4 $ 9.4 Due after one year through five years 732.9 699.0 Due after five years through ten years 389.9 369.2 Total $ 1,134.2 $ 1,077.6 The following table sets forth the amortized cost and estimated fair value of those investments held by the VIEs with unrealized losses at December 31, 2022, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Amortized Estimated (Dollars in millions) Due in one year or less $ 7.9 $ 5.9 Due after one year through five years 676.5 641.9 Due after five years through ten years 370.3 349.3 Total $ 1,054.7 $ 997.1
Summary of the Investments Sold at a Loss during 2022 Which had been Continuously in an Unrealized Loss Position	The following summarizes the investments sold at a loss during 2022 which had been continuously in an unrealized loss position exceeding 20 percent of the amortized cost basis prior to the sale for the period indicated (dollars in millions): At date of sale Number Amortized cost Fair value Less than 6 months prior to sale 21 $ 85.6 $ 51.8 Greater than or equal to 6 months and less than 12 months prior to sale 3 6.1 4.2 $ 91.7 $ 56.0 The following summarizes the investments in our portfolio rated below-investment grade not deemed to have credit losses which have been continuously in an unrealized loss position exceeding 20 percent of the cost basis for the period indicated as of December 31, 2022 (dollars in millions): Number Cost Unrealized Estimated Less than 6 months 6 $ 47.5 $ (11.1) $ 36.4 Greater than or equal to 6 months and less than 12 months 5 33.6 (10.3) 23.3 Total $ 81.1 $ (21.4) $ 59.7 The following summarizes the investments sold at a loss during 2022 which had been continuously in an unrealized loss position exceeding 20 percent of the amortized cost basis prior to the sale for the period indicated (dollars in millions): At date of sale Number Amortized cost Fair value Less than 6 months prior to sale 3 $ 7.0 $ 3.9 Greater than or equal to 6 months and less than 12 months prior to sale 2 1.7 .6 $ 8.7 $ 4.5 The following summarizes the investments held by the VIEs rated below-investment grade not deemed to have credit losses which have been continuously in an unrealized loss position exceeding 20 percent of the cost basis for the period indicated as of December 31, 2022 (dollars in millions): Number Cost Unrealized Estimated Less than 6 months 5 $ 13.2 $ (3.9) $ 9.3

BUSINESS AND BASIS OF PRESENT_2

BUSINESS AND BASIS OF PRESENTATION (Details) - Optavise - USD ($) $ in Millions	1 Months Ended	2 Months Ended
	Feb. 28, 2021	Mar. 31, 2021
Business Acquisition [Line Items]
Purchase price	$ 50
Payments to acquire business, net of cash	46.2
Net assets acquired	53
Goodwill and other intangible assets	48
Advisory and legal fees	$ 3	$ 2.5

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - PRESENT VALUE OF FUTURE PROFITS (Details)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Discount rate used to determine present value of future profits	12%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - REINSURANCE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Company retains no more than this amount of mortality risk	$ 0.8
Ceded premiums written	206.2	$ 222.4	$ 239.5
Reinsurance recoveries benefits	361.4	310.9	403.8
Assumed premiums written	18.7	20.3	23
Insurance policy benefits related to reinsurance assumed	$ 25	$ 24.9	$ 31.4

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - INVESTMENTS IN VARIABLE INTEREST ENTITIES (Details) $ in Millions	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Investments held in limited partnerships and hedge funds	$ 588.9
Unfunded commitments to limited partnerships	$ 441.2

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - INVESTMENT BORROWINGS (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) subsidiary	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Number of insurance subsidiaries that are members of the FHLB | subsidiary	3
Investment borrowings	$ 1,639.5	$ 1,715.8
Interest expense on FHLB borrowings	33.5	$ 9.8	$ 21.2
Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal home loan bank stock	75.2
Investment borrowings	1,639.5
Federal home loan bank advances, collateral pledged	2,200
Fixed rate FHLB borrowings pre-payable	81.8
Aggregate fee to prepay all fixed rate FHLB borrowings	1
Borrowings due March 2023 at 2.160% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 20.8
Interest rate	2.16%
Borrowings due July 2023 at 4.490% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 50
Interest rate	4.49%
Borrowings due July 2023 at 4.490% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 100
Interest rate	4.49%
Borrowings due July 2023 at 4.490% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 50
Interest rate	4.49%
Borrowings due April 2024 at 4.262% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 100
Interest rate	4.262%
Borrowings due May 2024 at 4.919% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 50
Interest rate	4.919%
Borrowings due May 2024 at 4.764% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 22
Interest rate	4.764%
Borrowings due July 2024 at 4.058% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 100
Interest rate	4.058%
Borrowings due July 2024 at 1.990% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 15.5
Interest rate	1.99%
Borrowings due July 2024 at 4.782% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 34.5
Interest rate	4.782%
Borrowings due July 2024 at 4.865% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 15
Interest rate	4.865%
Borrowings due August 2024 at 0.640% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 27
Interest rate	0.64%
Borrowings due September 2024 at 5.031% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 25
Interest rate	5.031%
Borrowings due May 2025 at 4.313% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 21.7
Interest rate	4.313%
Borrowings due June 2025 at 2.940% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 18.5
Interest rate	2.94%
Borrowings due September 2025 at 4.650% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 125
Interest rate	4.65%
Borrowings due October 2025 at 4.583% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 100
Interest rate	4.583%
Borrowings due October 2025 at 4.512% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 100
Interest rate	4.512%
Borrowings due October 2025 at 4.600% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 57.7
Interest rate	4.60%
Borrowings due November 2025 at 4.532% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 50
Interest rate	4.532%
Borrowings due January 2026 at 4.519% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 50
Interest rate	4.519%
Borrowings due January 2026 at 4.589% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 50
Interest rate	4.589%
Borrowings due January 2026 at 4.582% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 100
Interest rate	4.582%
Borrowings due May 2026 at 4.472% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 21.8
Interest rate	4.472%
Borrowings due May 2026 at 4.570% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 50
Interest rate	4.57%
Borrowings due December 2026 at 4.526% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 75
Interest rate	4.526%
Borrowings due April 2027 at 4.322% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 50
Interest rate	4.322%
Borrowings due May 2027 at 4.332% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 50
Interest rate	4.332%
Borrowings due June 2027 at 4.670% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 100
Interest rate	4.67%
Borrowings due June 2027 at 4.893% | Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Investment borrowings	$ 10
Interest rate	4.893%

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - SALES INDUCEMENTS (NARRATIVE) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Deferred sales inducements	$ 22.5	$ 17.3	$ 14.1
Deferred sales inducements, amortization expense	17.8	15.5	$ 15.4
Unamortized deferred sales inducements	$ 65.9	$ 61.2

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - RECENTLY ISSUED ACCOUNTING STANDARDS (NARRATIVE) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Jan. 01, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated other comprehensive income (loss)	$ (2,093.1)	$ 1,947.1
Retained earnings	1,459	1,127.2		$ 517.9
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in pre-tax impact to the insurance margins	35	45
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in pre-tax impact to the insurance margins	$ 55	$ 65
Cumulative Effect, Period of Adoption, Adjustment | Minimum | Accounting Standards Update 2018-12
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated other comprehensive income (loss)			$ (2,080)
Retained earnings			(130)
Cumulative Effect, Period of Adoption, Adjustment | Maximum | Accounting Standards Update 2018-12
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated other comprehensive income (loss)			$ 110

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - IMPACT OF ADOPTION (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fixed maturities, available for sale	$ 20,353.4	$ 24,805.4		$ 21,293.1
Mortgage loans	1,411.9	1,218.6		1,559.4
Investments held by variable interest entities	1,077.6	1,199.6		1,178.7
Income tax assets, net	1,165.5	118.3		437.5
Reinsurance receivables	4,241.7	4,354.3		4,781.7
Total assets	33,339.2	36,204.4		33,613.1
Retained earnings	1,459	1,127.2		517.9
Total shareholders' equity	$ 1,400.8	$ 5,259.7	$ 5,484.2	4,659.2	$ 4,677
ASU 2016-13 Credit Losses
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fixed maturities, available for sale				(2.1)
Mortgage loans				(6.7)
Investments held by variable interest entities				(9.9)
Income tax assets, net				4.9
Reinsurance receivables				(4)
Total assets				(17.8)
Retained earnings				(17.8)
Total shareholders' equity				$ (17.8)
Amounts prior to effect of adoption of authoritative guidance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fixed maturities, available for sale					21,295.2
Mortgage loans					1,566.1
Investments held by variable interest entities					1,188.6
Income tax assets, net					432.6
Reinsurance receivables					4,785.7
Total assets					33,630.9
Retained earnings					535.7
Total shareholders' equity					$ 4,677

INVESTMENTS - SCHEDULE OF FIXED

INVESTMENTS - SCHEDULE OF FIXED MATURITIES AVAILABLE FOR SALE (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 23,384.2
Allowance for credit losses	(56)	$ (7.6)	$ (2.2)		$ (2.1)
Estimated fair value	20,353.4	24,805.4		$ 21,293.1
Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Estimated fair value	1,318.5
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Allowance for credit losses	(54.4)	(7.4)	(1.9)		(2.1)
Corporate securities | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	13,043.6	12,384
Gross unrealized gains	28.9	2,229.5
Gross unrealized losses	(1,858.4)	(20.2)
Allowance for credit losses	(37)	(4.3)
Estimated fair value	11,177.1	14,589
Corporate securities | Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	605.5	811.4
Gross unrealized gains	1	55
Gross unrealized losses	(53.5)	(1.5)
Allowance for credit losses	(17.4)	(3.1)
Estimated fair value	535.6	861.8
United States Treasury securities and obligations of United States government corporations and agencies | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	171.7	166.2
Gross unrealized gains	0	54.3
Gross unrealized losses	(13)	(0.9)
Allowance for credit losses	0	0
Estimated fair value	158.7	219.6
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Allowance for credit losses	(0.9)	0	(0.3)		0
States and political subdivisions | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	2,836.3	2,637.4
Gross unrealized gains	19.3	356.7
Gross unrealized losses	(476)	(1.5)
Allowance for credit losses	(0.8)	0
Estimated fair value	2,378.8	2,992.6
States and political subdivisions | Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	10.6	11.6
Gross unrealized gains	0	0
Gross unrealized losses	(0.8)	0
Allowance for credit losses	(0.1)	0
Estimated fair value	9.7	11.6
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Allowance for credit losses	(0.4)	(0.2)	0		0
Foreign governments | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	86.3	85.4
Gross unrealized gains	0.1	13.6
Gross unrealized losses	(11.3)	(0.3)
Allowance for credit losses	(0.4)	(0.2)
Estimated fair value	74.7	98.5
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Allowance for credit losses	(0.3)	0	0		0
Asset-backed securities | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,312.5	983.1
Gross unrealized gains	1	35.2
Gross unrealized losses	(130.1)	(1.9)
Allowance for credit losses	(0.3)	0
Estimated fair value	1,183.1	1,016.4
Asset-backed securities | Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	123.2	145.9
Gross unrealized gains	0	1.8
Gross unrealized losses	(19.3)	(1.2)
Allowance for credit losses	0	0
Estimated fair value	103.9	146.5
Agency residential mortgage-backed securities | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	174.3	36.7
Gross unrealized gains	1.4	3.7
Gross unrealized losses	(0.7)	0
Allowance for credit losses	0	0
Estimated fair value	175	40.4
Non-agency residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Allowance for credit losses	0	0	$ 0		$ 0
Non-agency residential mortgage-backed securities | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,122.6	1,141
Gross unrealized gains	6	28.4
Gross unrealized losses	(174.3)	(2.9)
Allowance for credit losses	0	0
Estimated fair value	954.3	1,166.5
Non-agency residential mortgage-backed securities | Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	577.8	729.4
Gross unrealized gains	34	128.1
Gross unrealized losses	(17.6)	(0.2)
Allowance for credit losses	0	0
Estimated fair value	594.2	857.3
Collateralized loan obligations | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	825.2	574.2
Gross unrealized gains	0.3	2.3
Gross unrealized losses	(39.6)	(1.2)
Allowance for credit losses	0	0
Estimated fair value	785.9	575.3
Collateralized loan obligations | Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost		13.1
Gross unrealized gains		0
Gross unrealized losses		(0.1)
Allowance for credit losses		0
Estimated fair value		13
Commercial mortgage-backed securities | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	2,401.3	2,064.6
Gross unrealized gains	0.1	76.3
Gross unrealized losses	(254.1)	(8.7)
Allowance for credit losses	0	0
Estimated fair value	2,147.3	2,132.2
Commercial mortgage-backed securities | Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	93.3	83.6
Gross unrealized gains	0	1.6
Gross unrealized losses	(18.2)	(0.5)
Allowance for credit losses	0	0
Estimated fair value	75.1	84.7
Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	23,384.2	21,867.6
Gross unrealized gains	92.1	2,986.5
Gross unrealized losses	(3,066.9)	(41.1)
Allowance for credit losses	(56)	(7.6)
Estimated fair value	20,353.4	24,805.4
Fixed Maturities | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	21,973.8	20,072.6
Gross unrealized gains	57.1	2,800
Gross unrealized losses	(2,957.5)	(37.6)
Allowance for credit losses	(38.5)	(4.5)
Estimated fair value	19,034.9	22,830.5
Fixed Maturities | Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,410.4	1,795
Gross unrealized gains	35	186.5
Gross unrealized losses	(109.4)	(3.5)
Allowance for credit losses	(17.5)	(3.1)
Estimated fair value	$ 1,318.5	$ 1,974.9

INVESTMENTS - SUMMARY OF FIXED

INVESTMENTS - SUMMARY OF FIXED MATURITY SECURITIES AVAILABLE FOR SALE (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 23,384.2
Estimated fair value	$ 20,353.4	$ 24,805.4	$ 21,293.1
Percentage of total estimated fair value	100%
NAIC designation 1
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 14,205.4
Estimated fair value	$ 12,385.7
Percentage of total estimated fair value	60.90%
NAIC designation 2
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 8,407.1
Estimated fair value	$ 7,294.9
Percentage of total estimated fair value	35.80%
Total NAIC 1 and 2 (investment grade)
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 22,612.5
Estimated fair value	$ 19,680.6
Percentage of total estimated fair value	96.70%
NAIC designation 3
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 606.9
Estimated fair value	$ 535.8
Percentage of total estimated fair value	2.60%
NAIC designation 4
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 145.5
Estimated fair value	$ 125.9
Percentage of total estimated fair value	0.60%
NAIC designation 5
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 18.3
Estimated fair value	$ 11.1
Percentage of total estimated fair value	0.10%
NAIC designation 6
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 1
Estimated fair value	$ 0
Percentage of total estimated fair value	0%
Total NAIC 3,4,5 and 6 (below-investment grade)
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 771.7
Estimated fair value	$ 672.8
Percentage of total estimated fair value	3.30%

INVESTMENTS - SCHEDULE OF ACCUM

INVESTMENTS - SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net unrealized gains (losses) on investments having no allowance for credit losses	$ (1,247)	$ 2,963.3
Unrealized losses on investments with an allowance for credit losses	(1,780.7)	(23.1)
Adjustment to present value of future profits	8.2	(8.3)
Adjustment to deferred acquisition costs	331.7	(420.2)
Adjustment to insurance liabilities	0	(25.5)
Deferred income tax assets (liabilities)	594.7	(539.1)
Accumulated other comprehensive income (loss)	$ (2,093.1)	$ 1,947.1

INVESTMENTS - NARRATIVE (Detail

INVESTMENTS - NARRATIVE (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) mortgage_loan loan state investment	Dec. 31, 2021 USD ($) investment	Dec. 31, 2020 USD ($)	Jan. 01, 2020 USD ($)
Debt Securities, Available-for-sale [Line Items]
Premium deficiencies adjustments to present value of future profits		$ (7,300,000)
Reduction to deferred acquisition costs due to unrealized gains that would result in premium deficiency if unrealized gains were realized		(132,200,000)
Adjustment to insurance liabilities	$ 0	(25,500,000)
Increase to deferred tax assets due to unrealized gains that would result in premium deficiency if unrealized gains were realized		35,800,000
Debt securities, available-for-sale at amortized cost	23,384,200,000	21,867,600,000
Amortized cost	23,384,200,000
Estimated fair value	20,353,400,000	24,805,400,000		$ 21,293,100,000
Amortized cost of fixed maturity investments not accruing investment income	1,000,000
Carrying value of fixed maturity investments not accruing investment income	0
Net realized investment gains (losses)	(135,400,000)	19,100,000	$ (36,200,000)
Change in allowance for credit losses and impairments of other investments	$ (52,600,000)	$ 12,200,000	(18,500,000)
Number of investments in default or considered nonperforming | investment	0	0
Value of available for sale securities sold	$ 1,651,500,000	$ 493,500,000	507,100,000
Estimated fair value	$ 6,018,800,000
Percent of fixed maturities	29.60%
Number of additional states greater than specified percentage of mortgage loan balance | state	0
Assets held by insurance regulators	$ 37,200,000	38,800,000
Commercial Portfolio Segment
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans in foreclosure | mortgage_loan	0
Carrying value of loans	$ 1,232,200,000
Residential Portfolio Segment | Financial Asset, Past Due
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans noncurrent | loan	3
Carrying value of loans	$ 600,000
Residential Portfolio Segment | Financial Asset, Past Due | Foreclosure
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans noncurrent | loan	2
Carrying value of loans	$ 500,000
Minimum
Debt Securities, Available-for-sale [Line Items]
Percentage of mortgage loan balance	6%
California
Debt Securities, Available-for-sale [Line Items]
Percentage of mortgage loan balance	16%
Maryland
Debt Securities, Available-for-sale [Line Items]
Percentage of mortgage loan balance	10%
GEORGIA
Debt Securities, Available-for-sale [Line Items]
Percentage of mortgage loan balance	7%
WISCONSIN
Debt Securities, Available-for-sale [Line Items]
Percentage of mortgage loan balance	7%
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale	$ 70,900,000	19,500,000	16,200,000
Other Investments
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale	9,100,000	900,000	1,800,000
Residential Mortgage | Total amortized cost
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	187,700,000
Residential Mortgage | Estimated fair value
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	190,700,000
Non-agency residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale	16,500,000
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale	7,500,000
Total fixed maturities, available for sale
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale	104,000,000	20,400,000	53,700,000
Fixed indexed annuities - embedded derivative
Debt Securities, Available-for-sale [Line Items]
Increase (decreases) in fair value of certain fixed maturity investments with embedded derivatives	(45,900,000)	(4,000,000)	(100,000)
Reinsurance Contract | Embedded derivative related to modified coinsurance agreement
Debt Securities, Available-for-sale [Line Items]
Increase (decreases) in fair value of certain fixed maturity investments with embedded derivatives	(16,100,000)	(3,100,000)	2,600,000
Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Net realized investment gains (losses)	(9,600,000)	24,200,000	(15,100,000)
Equity Securities
Debt Securities, Available-for-sale [Line Items]
Net realized investment gains (losses)	(11,200,000)	(10,200,000)	(5,100,000)
Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	23,384,200,000	21,867,600,000
Estimated fair value	$ 20,353,400,000	24,805,400,000
Continuous unrealized loss position	20%
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale			26,100,000
Estimated fair value	$ 2,222,400,000
Percent of fixed maturities	10.90%
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale			$ 9,600,000
Estimated fair value	$ 1,287,000,000
Percent of fixed maturities	6.30%
NAIC
Debt Securities, Available-for-sale [Line Items]
Percentage of available-for-sale debt securities	3.30%
Amortized cost	$ 771,700,000
Estimated fair value	$ 672,800,000
Available-for-sale securities, percentage of amortized cost	87%
Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale at amortized cost	$ 1,410,400,000
Percentage of available-for-sale debt securities	6%
Estimated fair value	$ 1,318,500,000
Available-for-sale securities, percentage of amortized cost	93%
Continuous unrealized loss position	20%
Below-investment Grade | Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 1,410,400,000	1,795,000,000
Estimated fair value	1,318,500,000	1,974,900,000
Below-investment Grade | Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	93,300,000	83,600,000
Estimated fair value	75,100,000	84,700,000
Below-investment Grade | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	123,200,000	145,900,000
Estimated fair value	$ 103,900,000	$ 146,500,000

INVESTMENTS - SCHEDULE OF INVES

INVESTMENTS - SCHEDULE OF INVESTMENTS CLASSIFIED BY CONTRACTUAL MATURITY DATE (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2020
Amortized cost
Due in one year or less	$ 112
Due after one year through five years	1,913.7
Due after five years through ten years	2,098.9
Due after ten years	12,629.4
Subtotal	16,754
Structured securities	6,630.2
Total	23,384.2
Estimated fair value
Due in one year or less	110.8
Due after one year through five years	1,790.2
Due after five years through ten years	1,910.4
Due after ten years	10,523.2
Subtotal	14,334.6
Structured securities	6,018.8
Total	$ 20,353.4	$ 24,805.4	$ 21,293.1

INVESTMENTS - SCHEDULE OF INV_2

INVESTMENTS - SCHEDULE OF INVESTMENT INCOME (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Fixed maturities	$ 1,084.1	$ 962.6	$ 924.8
Equity securities	5.9	4.3	3
Mortgage loans	63	65	79.5
Policy loans	8.4	8.2	8.5
Other invested assets	38	124.8	84
Cash and cash equivalents	5.9	0.3	2.6
Trading securities	7.7	7.2	28.1
Option income (loss)	(6.3)	212	35
Change in value of options	(200.3)	8.9	4.5
Other special-purpose portfolios	35.8	52.4	75.9
Gross investment income	1,042.2	1,445.7	1,245.9
Less investment expenses	26.3	25	23.4
Net investment income	$ 1,015.9	$ 1,420.7	$ 1,222.5

INVESTMENTS - SCHEDULE OF REALI

INVESTMENTS - SCHEDULE OF REALIZED GAIN (LOSS) ON INVESTMENTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Realized investment gains (losses):
Total investment gains (losses)	$ (17.9)	$ 21.3	$ (18.4)
Change in allowance for credit losses and impairments of other investments	(52.6)	12.2	(18.5)
Change in fair value of equity securities	(2.9)	(7.3)	(1.8)
Other changes in fair value	(62)	(7.1)	2.5
Other investment gains (losses)	(117.5)	(2.2)	(17.8)
Total investment gains (losses)	(135.4)	19.1	(36.2)
Variable interest entities change in allowance for current expected credit losses	(1.8)	11.4	(5.2)
Increase (decrease) in equity securities, FV-NI, held at end of period	(7.3)	(7.8)	(1.7)
Change in estimated fair value of trading securities	(43.3)	(3.1)	0.4
Total fixed maturities, available for sale
Realized investment gains (losses):
Gross realized gains on sales of fixed maturities, available for sale	99.8	51.6	48.6
Gross realized losses on sales of fixed maturities, available for sale	(104)	(20.4)	(53.7)
Equity securities, net	(8.3)	(2.9)	(3.3)
Other, net	$ (5.4)	$ (7)	$ (10)

INVESTMENTS - SCHEDULE OF INV_3

INVESTMENTS - SCHEDULE OF INVESTMENTS IN OUR PORTFOLIO WHICH HAVE BEEN CONTINUOUSLY IN AN UNREALIZED LOSS POSITION EXCEEDING 20% OF AMORTIZED COST PRIOR TO SALE (Details) - Fixed Maturities $ in Millions	Dec. 31, 2022 USD ($) product_distribution_channel
Debt Securities, Available-for-sale [Line Items]
Less than 6 months prior to sale, Number of issuers | product_distribution_channel	21
Greater than or equal to 6 months and less than 12 months prior to sale, Number of issuers | product_distribution_channel	3
Less than 6 months prior to sale, Amortized cost	$ 85.6
Greater than or equal to 6 months and less than 12 months prior to sale, Amortized cost	6.1
Amortized cost, Total	91.7
Less than 6 months prior to sale, Fair value	51.8
Greater than or equal to 6 months and less than 12 months prior to sale, Fair value	4.2
Fair value, Total	$ 56

INVESTMENTS - SCHEDULE OF INV_4

INVESTMENTS - SCHEDULE OF INVESTMENTS WITH UNREALIZED LOSSES CLASSIFIED BY CONTRACTUAL MATURITY DATE (Details) $ in Millions	Dec. 31, 2022 USD ($)
Amortized cost
Due in one year or less	$ 91.2
Due after one year through five years	1,741.9
Due after five years through ten years	1,845.3
Due after ten years	11,631.2
Subtotal	15,309.6
Structured securities	6,040.1
Total	21,349.7
Estimated fair value
Due in one year or less	89.8
Due after one year through five years	1,615.5
Due after five years through ten years	1,649.8
Due after ten years	9,485.8
Subtotal	12,840.9
Structured securities	5,385.9
Total	$ 18,226.8

INVESTMENTS - SCHEDULE OF INV_5

INVESTMENTS - SCHEDULE OF INVESTMENTS IN OUR PORTFOLIO RATED BELOW-INVESTMENT GRADE WHICH HAVE BEEN CONTINUOUSLY IN AN UNREALIZED LOSS POSITION EXCEEDING 20% OF THE COST BASIS (Details) $ in Millions	Dec. 31, 2022 USD ($) issuer	Dec. 31, 2021 USD ($)
Debt Securities, Available-for-sale [Line Items]
Total, unrealized loss	$ (835.2)	$ (15.1)
Below-investment Grade
Debt Securities, Available-for-sale [Line Items]
Less than 6 months, Number of issuers | issuer	6
Less than 6 months	$ 47.5
Less than 6 months, Unrealized loss	(11.1)
Less than 6 months, Estimated fair value	$ 36.4
Greater than or equal to 6 months and less than 12 months, Number of issuers | issuer	5
Greater than or equal to 6 months and less than 12 months, Cost basis	$ 33.6
Greater than or equal to 6 months and less than 12 months, Unrealized loss	(10.3)
Greater than or equal to 6 months and less than 12 months, Estimated fair value	23.3
Total, cost basis	81.1
Total, unrealized loss	(21.4)
Total, estimated fair value	$ 59.7

INVESTMENTS - SCHEDULE OF UNREA

INVESTMENTS - SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair value
Less than 12 months	$ 7,636.9	$ 1,698.6
12 months or greater	1,897.5	122.2
Total	9,534.4	1,820.8
Unrealized losses
Less than 12 months	(835.2)	(15.1)
12 months or greater	(471.6)	(3.4)
Total	(1,306.8)	(18.5)
Corporate securities
Fair value
Less than 12 months	2,830.8	87.8
12 months or greater	370.4	9.2
Total	3,201.2	97
Unrealized losses
Less than 12 months	(329.4)	(0.4)
12 months or greater	(129.3)	(0.1)
Total	(458.7)	(0.5)
United States Treasury securities and obligations of United States government corporations and agencies
Fair value
Less than 12 months	134.4	5.7
12 months or greater	21.9	18.7
Total	156.3	24.4
Unrealized losses
Less than 12 months	(9.6)	0
12 months or greater	(3.4)	(0.9)
Total	(13)	(0.9)
States and political subdivisions
Fair value
Less than 12 months	667	47.3
12 months or greater	132.1	0
Total	799.1	47.3
Unrealized losses
Less than 12 months	(124.8)	(0.4)
12 months or greater	(58.5)	0
Total	(183.3)	(0.4)
Foreign governments
Fair value
Less than 12 months	35
12 months or greater	2.1
Total	37.1
Unrealized losses
Less than 12 months	(3.5)
12 months or greater	(0.3)
Total	(3.8)
Asset-backed securities
Fair value
Less than 12 months	914	210.8
12 months or greater	258.1	17.8
Total	1,172.1	228.6
Unrealized losses
Less than 12 months	(90.1)	(2.4)
12 months or greater	(53.4)	(0.7)
Total	(143.5)	(3.1)
Agency residential mortgage-backed securities
Fair value
Less than 12 months	59.7
12 months or greater	0
Total	59.7
Unrealized losses
Less than 12 months	(0.7)
12 months or greater	0
Total	(0.7)
Non-agency residential mortgage-backed securities
Fair value
Less than 12 months	861.6	380.8
12 months or greater	335.4	2.3
Total	1,197	383.1
Unrealized losses
Less than 12 months	(89.7)	(3.1)
12 months or greater	(102.2)	0
Total	(191.9)	(3.1)
Collateralized loan obligations
Fair value
Less than 12 months	553	271.5
12 months or greater	184.2	32.8
Total	737.2	304.3
Unrealized losses
Less than 12 months	(27.4)	(1.2)
12 months or greater	(12.2)	(0.1)
Total	(39.6)	(1.3)
Commercial mortgage-backed securities
Fair value
Less than 12 months	1,581.4	694.7
12 months or greater	593.3	41.4
Total	2,174.7	736.1
Unrealized losses
Less than 12 months	(160)	(7.6)
12 months or greater	(112.3)	(1.6)
Total	$ (272.3)	$ (9.2)

INVESTMENTS - SUMMARY OF CHANGE

INVESTMENTS - SUMMARY OF CHANGES IN THE ALLOWANCE FOR CURRENT EXPECTED CREDIT LOSSES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	$ 7.6	$ 2.2	$ 2.1
Additions for securities for which credit losses were not previously recorded	50.4	6.3	25.7
Additions for purchased securities with deteriorated credit	0	0	0
Additions (reductions) for securities where an allowance was previously recorded	10.3	0	(24.1)
Reduction for securities sold during the period	(12.3)	(0.9)	(1.5)
Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded	0	0	0
Write-offs	0	0	0
Recoveries of previously written-off amount	0	0	0
Allowance at the end of the period	56	7.6	2.2
Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	7.4	1.9	2.1
Additions for securities for which credit losses were not previously recorded	48.9	6.1	23.6
Additions for purchased securities with deteriorated credit	0	0	0
Additions (reductions) for securities where an allowance was previously recorded	10.3	0.2	(22.3)
Reduction for securities sold during the period	(12.2)	(0.8)	(1.5)
Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded	0	0	0
Write-offs	0	0	0
Recoveries of previously written-off amount	0	0	0
Allowance at the end of the period	54.4	7.4	1.9
States and political subdivisions
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	0	0.3	0
Additions for securities for which credit losses were not previously recorded	0.7	0.1	0.7
Additions for purchased securities with deteriorated credit	0	0	0
Additions (reductions) for securities where an allowance was previously recorded	0.3	(0.4)	(0.4)
Reduction for securities sold during the period	(0.1)	0	0
Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded	0	0	0
Write-offs	0	0	0
Recoveries of previously written-off amount	0	0	0
Allowance at the end of the period	0.9	0	0.3
Foreign governments
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	0.2	0	0
Additions for securities for which credit losses were not previously recorded	0.5	0.1	0.1
Additions for purchased securities with deteriorated credit	0	0	0
Additions (reductions) for securities where an allowance was previously recorded	(0.3)	0.2	(0.1)
Reduction for securities sold during the period	0	(0.1)	0
Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded	0	0	0
Write-offs	0	0	0
Recoveries of previously written-off amount	0	0	0
Allowance at the end of the period	0.4	0.2	0
Asset-backed securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	0	0	0
Additions for securities for which credit losses were not previously recorded	0.3	0	0.3
Additions for purchased securities with deteriorated credit	0	0	0
Additions (reductions) for securities where an allowance was previously recorded	0	0	(0.3)
Reduction for securities sold during the period	0	0	0
Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded	0	0	0
Write-offs	0	0	0
Recoveries of previously written-off amount	0	0	0
Allowance at the end of the period	0.3	0	0
Non-agency residential mortgage-backed securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	0	0	0
Additions for securities for which credit losses were not previously recorded	0	0	1
Additions for purchased securities with deteriorated credit	0	0	0
Additions (reductions) for securities where an allowance was previously recorded	0	0	(1)
Reduction for securities sold during the period	0	0	0
Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded	0	0	0
Write-offs	0	0	0
Recoveries of previously written-off amount	0	0	0
Allowance at the end of the period	$ 0	$ 0	$ 0

INVESTMENTS - SCHEDULE OF STRUC

INVESTMENTS - SCHEDULE OF STRUCTURED SECURITIES (Details) $ in Millions	Dec. 31, 2022 USD ($)
Structured Securities [Line Items]
Amortized cost	$ 6,630.2
Estimated fair value, Amount	$ 6,018.8
Estimated fair value, Percent of fixed maturities	29.60%
Asset-backed securities
Structured Securities [Line Items]
Amortized cost	$ 1,435.7
Estimated fair value, Amount	$ 1,287
Estimated fair value, Percent of fixed maturities	6.30%
Agency residential mortgage-backed securities
Structured Securities [Line Items]
Amortized cost	$ 174.3
Estimated fair value, Amount	$ 175
Estimated fair value, Percent of fixed maturities	0.90%
Non-agency residential mortgage-backed securities
Structured Securities [Line Items]
Amortized cost	$ 1,700.4
Estimated fair value, Amount	$ 1,548.5
Estimated fair value, Percent of fixed maturities	7.60%
Collateralized loan obligations
Structured Securities [Line Items]
Amortized cost	$ 825.2
Estimated fair value, Amount	$ 785.9
Estimated fair value, Percent of fixed maturities	3.90%
Commercial mortgage-backed securities
Structured Securities [Line Items]
Amortized cost	$ 2,494.6
Estimated fair value, Amount	$ 2,222.4
Estimated fair value, Percent of fixed maturities	10.90%

INVESTMENTS - SUMMARY OF WEIGHT

INVESTMENTS - SUMMARY OF WEIGHTED AVERAGE LOAN-TO-VALUE RATIO FOR OUTSTANDING MORTGAGE LOANS (Details) $ in Millions	Dec. 31, 2022 USD ($)
Commercial Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 314.3
2021	150.5
2020	43.5
2019	75.4
2018	74.7
Prior	573.8
Total amortized cost	1,232.2
Mortgage loans	1,082.9
Collateral	4,333.3
Less than 60% | Commercial Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
2022	234.1
2021	114.7
2020	43.5
2019	75.4
2018	66.5
Prior	476.3
Total amortized cost	1,010.5
Mortgage loans	889.8
Collateral	$ 4,027.6
Less than 60% | Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratio	60%
60% to less than 70% | Commercial Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 47.2
2021	13.2
2020	0
2019	0
2018	8.2
Prior	45
Total amortized cost	113.6
Mortgage loans	104.7
Collateral	$ 170.7
60% to less than 70% | Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratio	60%
60% to less than 70% | Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratio	70%
70% to less than 80% | Commercial Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 33
2021	22.6
2020	0
2019	0
2018	0
Prior	0
Total amortized cost	55.6
Mortgage loans	47.2
Collateral	$ 72.3
70% to less than 80% | Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratio	70%
70% to less than 80% | Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratio	80%
80% to less than 90% | Commercial Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 0
2021	0
2020	0
2019	0
2018	0
Prior	42.5
Total amortized cost	42.5
Mortgage loans	34.5
Collateral	$ 52
80% to less than 90% | Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratio	80%
80% to less than 90% | Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratio	90%
90% or greater | Commercial Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 0
2021	0
2020	0
2019	0
2018	0
Prior	10
Total amortized cost	10
Mortgage loans	6.7
Collateral	$ 10.7
90% or greater | Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratio	90%

INVESTMENTS - SUMMARY OF CHAN_2

INVESTMENTS - SUMMARY OF CHANGES IN THE ALLOWANCE FOR CURRENT EXPECTED CREDIT LOSSES RELATED TO MORTGAGE LOANS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Mortgage loans
Allowance for credit losses at beginning of period	$ 5.6	$ 11.8	$ 6.7
Current period provision for expected credit losses	2.4	(6.2)	5.1
Initial allowance recognized for purchased financial assets with credit deterioration	0	0	0
Write-offs charged against the allowance	0	0	0
Recoveries of amounts previously written off	0	0	0
Allowance for credit losses at end of period	$ 8	$ 5.6	$ 11.8

FAIR VALUE MEASUREMENTS - NARRA

FAIR VALUE MEASUREMENTS - NARRATIVE (Details)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair value of level 3 fixed maturity securities and trading securities valued using broker quotes, percentage	89%
Available for sale fixed maturities classified as level 3, investment grade, percent	86%
Available for sale fixed maturities classified as level 3, corporate securities, percent	49%

FAIR VALUE MEASUREMENTS - FAIR

FAIR VALUE MEASUREMENTS - FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS MEASURED ON A RECURRING BASIS - SECURITIES (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2020
Assets:
Estimated fair value	$ 20,353.4	$ 24,805.4	$ 21,293.1
Equity securities - corporate securities	135.3	131.1
Trading securities	207.9	227.2
Investments held by variable interest entities	1,077.6	1,199.6	$ 1,178.7
Total other invested assets	1,034.7	1,224
Assets held in separate accounts	2.7	3.9
Significant unobservable inputs  (Level 3)
Assets:
Total assets carried at fair value by category	353.4	170.4
Fair value, Measurements, Recurring
Assets:
Trading securities	207.9	227.2
Investments held by variable interest entities	1,077.6	1,199.6
Derivatives	56.7	227.5
Residential tranches	18.3
Total other invested assets	75
Assets held in separate accounts	2.7	3.9
Total assets carried at fair value by category	21,851.9	26,594.7
Liabilities:
Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities)	1,297	1,724.1
Fair value, Measurements, Recurring | Corporate securities
Assets:
Estimated fair value	11,712.7	15,450.8
Equity securities - corporate securities	135.3	131.1
Fair value, Measurements, Recurring | United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Estimated fair value	158.7	219.6
Fair value, Measurements, Recurring | States and political subdivisions
Assets:
Estimated fair value	2,388.5	3,004.2
Fair value, Measurements, Recurring | Foreign governments
Assets:
Estimated fair value	74.7	98.5
Fair value, Measurements, Recurring | Asset-backed securities
Assets:
Estimated fair value	1,287	1,162.9
Trading securities	15.1	5.8
Fair value, Measurements, Recurring | Agency residential mortgage-backed securities
Assets:
Estimated fair value	175	40.4
Trading securities	0.3	0.4
Fair value, Measurements, Recurring | Non-agency residential mortgage-backed securities
Assets:
Estimated fair value	1,548.5	2,023.8
Trading securities	60.7	81
Fair value, Measurements, Recurring | Collateralized loan obligations
Assets:
Estimated fair value	785.9	588.3
Fair value, Measurements, Recurring | Commercial mortgage-backed securities
Assets:
Estimated fair value	2,222.4	2,216.9
Trading securities	131.8	140
Fair value, Measurements, Recurring | Total fixed maturities, available for sale
Assets:
Estimated fair value	20,353.4	24,805.4
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1)
Assets:
Trading securities	0	0
Investments held by variable interest entities	0	0
Derivatives	0	0
Residential tranches	0
Total other invested assets	0
Assets held in separate accounts	0	0
Total assets carried at fair value by category	59.6	100.8
Liabilities:
Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities)	0	0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Corporate securities
Assets:
Estimated fair value	0	0
Equity securities - corporate securities	59.6	100.8
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Estimated fair value	0	0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | States and political subdivisions
Assets:
Estimated fair value	0	0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Foreign governments
Assets:
Estimated fair value	0	0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Asset-backed securities
Assets:
Estimated fair value	0	0
Trading securities	0	0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Agency residential mortgage-backed securities
Assets:
Estimated fair value	0	0
Trading securities	0	0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Non-agency residential mortgage-backed securities
Assets:
Estimated fair value	0	0
Trading securities	0	0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Collateralized loan obligations
Assets:
Estimated fair value	0	0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Commercial mortgage-backed securities
Assets:
Estimated fair value	0	0
Trading securities	0	0
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Total fixed maturities, available for sale
Assets:
Estimated fair value	0	0
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2)
Assets:
Trading securities	207.4	210.8
Investments held by variable interest entities	1,077.6	1,197.4
Derivatives	56.7	227.5
Residential tranches	0
Total other invested assets	56.7
Assets held in separate accounts	2.7	3.9
Total assets carried at fair value by category	21,438.9	26,323.5
Liabilities:
Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities)	0	0
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Corporate securities
Assets:
Estimated fair value	11,584.9	15,361.1
Equity securities - corporate securities	0	18.8
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Estimated fair value	158.7	219.6
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | States and political subdivisions
Assets:
Estimated fair value	2,388.5	3,004.2
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Foreign governments
Assets:
Estimated fair value	74.7	98.5
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Asset-backed securities
Assets:
Estimated fair value	1,230	1,136.3
Trading securities	15.1	5.8
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Agency residential mortgage-backed securities
Assets:
Estimated fair value	175	40.4
Trading securities	0.3	0.4
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Non-agency residential mortgage-backed securities
Assets:
Estimated fair value	1,492.3	2,023.8
Trading securities	60.2	77.5
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Collateralized loan obligations
Assets:
Estimated fair value	782.5	583.3
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Commercial mortgage-backed securities
Assets:
Estimated fair value	2,207.9	2,197.9
Trading securities	131.8	127.1
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2) | Total fixed maturities, available for sale
Assets:
Estimated fair value	20,094.5	24,665.1
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3)
Assets:
Trading securities	0.5	16.4
Investments held by variable interest entities	0	2.2
Derivatives	0	0
Residential tranches	18.3
Total other invested assets	18.3
Assets held in separate accounts	0	0
Total assets carried at fair value by category	353.4	170.4
Liabilities:
Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities)	1,297	1,724.1
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Corporate securities
Assets:
Estimated fair value	127.8	89.7
Equity securities - corporate securities	75.7	11.5
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Estimated fair value	0	0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | States and political subdivisions
Assets:
Estimated fair value	0	0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Foreign governments
Assets:
Estimated fair value	0	0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Asset-backed securities
Assets:
Estimated fair value	57	26.6
Trading securities	0	0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Agency residential mortgage-backed securities
Assets:
Estimated fair value	0	0
Trading securities	0	0
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Non-agency residential mortgage-backed securities
Assets:
Estimated fair value	56.2	0
Trading securities	0.5	3.5
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Collateralized loan obligations
Assets:
Estimated fair value	3.4	5
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Commercial mortgage-backed securities
Assets:
Estimated fair value	14.5	19
Trading securities	0	12.9
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Total fixed maturities, available for sale
Assets:
Estimated fair value	$ 258.9	$ 140.3

FAIR VALUE MEASUREMENTS - FAI_2

FAIR VALUE MEASUREMENTS - FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS MEASURED ON A RECURRING BASIS - FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents:
Held by variable interest entities	$ 69.2	$ 99.6
Fair value, Measurements, Recurring | Estimated fair value
Assets:
Mortgage loans	1,273.6	1,297.5
Policy loans	121.6	120.2
Other invested assets:
Company-owned life insurance	199.1	207
Cash and cash equivalents:
Unrestricted	575.7	632.1
Held by variable interest entities	69.2	99.6
Liabilities:
Policyholder account liabilities	14,858.3	13,689.7
Investment borrowings	1,640.5	1,719.6
Borrowings related to variable interest entities	1,066.3	1,144.8
Notes payable – direct corporate obligations	1,077	1,283.4
Fair value, Measurements, Recurring | Total amortized cost
Assets:
Mortgage loans	1,411.9	1,218.6
Policy loans	121.6	120.2
Other invested assets:
Company-owned life insurance	199.1	207
Cash and cash equivalents:
Unrestricted	575.7	632.1
Held by variable interest entities	69.2	99.6
Liabilities:
Policyholder account liabilities	14,858.3	13,689.7
Investment borrowings	1,639.5	1,715.8
Borrowings related to variable interest entities	1,104.6	1,147.9
Notes payable – direct corporate obligations	1,138.8	1,137.3
Fair value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1)
Assets:
Mortgage loans	0	0
Policy loans	0	0
Other invested assets:
Company-owned life insurance	0	0
Cash and cash equivalents:
Unrestricted	575.7	632.1
Held by variable interest entities	69.2	99.6
Liabilities:
Policyholder account liabilities	0	0
Investment borrowings	0	0
Borrowings related to variable interest entities	0	0
Notes payable – direct corporate obligations	0	0
Fair value, Measurements, Recurring | Significant other observable inputs (Level 2)
Assets:
Mortgage loans	0	0
Policy loans	0	0
Other invested assets:
Company-owned life insurance	199.1	207
Cash and cash equivalents:
Unrestricted	0	0
Held by variable interest entities	0	0
Liabilities:
Policyholder account liabilities	0	0
Investment borrowings	1,640.5	1,719.6
Borrowings related to variable interest entities	1,066.3	1,144.8
Notes payable – direct corporate obligations	1,077	1,283.4
Fair value, Measurements, Recurring | Significant unobservable inputs  (Level 3)
Assets:
Mortgage loans	1,273.6	1,297.5
Policy loans	121.6	120.2
Other invested assets:
Company-owned life insurance	0	0
Cash and cash equivalents:
Unrestricted	0	0
Held by variable interest entities	0	0
Liabilities:
Policyholder account liabilities	14,858.3	13,689.7
Investment borrowings	0	0
Borrowings related to variable interest entities	0	0
Notes payable – direct corporate obligations	$ 0	$ 0

FAIR VALUE MEASUREMENTS - FAI_3

FAIR VALUE MEASUREMENTS - FAIR VALUE ASSETS AND LIABILITIES MEASURED ON A RECURRING BASIS, UNOBSERVABLE INPUT RECONCILIATION (Details) - Fair Value, Inputs, Level 3 - Fair value, Measurements, Recurring - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Corporate securities
Assets:
Beginning balance	$ 89.7	$ 146.9
Purchases, sales, issuances and settlements, net	15.2	25
Total realized and unrealized gains (losses) included in net income	(10.4)	(0.5)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(35.5)	1.4
Transfers into level 3	76.2	0
Transfers out of level 3	(7.4)	(83.1)
Ending balance	127.8	89.7
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	(9.8)	(0.5)
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	(37.8)	(0.6)
Corporate securities | Investments held by variable interest entities - corporate securities
Assets:
Beginning balance	2.2	0
Purchases, sales, issuances and settlements, net	(2.1)	(0.2)
Total realized and unrealized gains (losses) included in net income	(0.1)	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	0.1
Transfers into level 3	0	2.3
Transfers out of level 3	0	0
Ending balance	0	2.2
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	0	0
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	0	0.1
Asset-backed securities
Assets:
Beginning balance	26.6	14.3
Purchases, sales, issuances and settlements, net	38.1	14.4
Total realized and unrealized gains (losses) included in net income	(0.1)	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(10.3)	(0.1)
Transfers into level 3	2.7	0
Transfers out of level 3	0	(2)
Ending balance	57	26.6
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	0	0
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	(10.3)	(0.1)
Non-agency residential mortgage-backed securities
Assets:
Beginning balance	0	1.6
Purchases, sales, issuances and settlements, net	14.3	0
Total realized and unrealized gains (losses) included in net income	(0.3)	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(24.7)	0
Transfers into level 3	66.9	0
Transfers out of level 3	0	(1.6)
Ending balance	56.2	0
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	0	0
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	(24.7)	0
Collateralized loan obligations
Assets:
Beginning balance	5	0
Purchases, sales, issuances and settlements, net	0	5
Total realized and unrealized gains (losses) included in net income	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(0.2)	0
Transfers into level 3	3.6	0
Transfers out of level 3	(5)	0
Ending balance	3.4	5
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	0	0
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	(0.4)	0
Commercial mortgage-backed securities
Assets:
Beginning balance	19	0
Purchases, sales, issuances and settlements, net	0	6.5
Total realized and unrealized gains (losses) included in net income	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(4.5)	(0.7)
Transfers into level 3	0	13.2
Transfers out of level 3	0	0
Ending balance	14.5	19
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	0	0
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	(4.6)	(0.8)
Total fixed maturities, available for sale
Assets:
Beginning balance	140.3	162.8
Purchases, sales, issuances and settlements, net	67.6	50.9
Total realized and unrealized gains (losses) included in net income	(10.8)	(0.5)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(75.2)	0.6
Transfers into level 3	149.4	13.2
Transfers out of level 3	(12.4)	(86.7)
Ending balance	258.9	140.3
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	(9.8)	(0.5)
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	(77.8)	(1.5)
Equity securities - corporate securities
Assets:
Beginning balance	11.5	26.8
Purchases, sales, issuances and settlements, net	63.9	(8)
Total realized and unrealized gains (losses) included in net income	0.3	(7.3)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending balance	75.7	11.5
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	0.4	(7.3)
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	0	0
Trading securities - non-agency residential mortgage-backed securities
Assets:
Beginning balance	3.5	5.9
Purchases, sales, issuances and settlements, net	0	(2.5)
Total realized and unrealized gains (losses) included in net income	(0.3)	(0.4)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	0.5
Transfers into level 3	0.8	0
Transfers out of level 3	(3.5)	0
Ending balance	0.5	3.5
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	(0.3)	(0.4)
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	0	0
Trading securities - commercial mortgage-backed securities
Assets:
Beginning balance	12.9	17
Purchases, sales, issuances and settlements, net	0	0
Total realized and unrealized gains (losses) included in net income	0	(0.1)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	0.7
Transfers into level 3	0	0
Transfers out of level 3	(12.9)	(4.7)
Ending balance	0	12.9
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	0	(0.1)
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	0	0
Total trading securities
Assets:
Beginning balance	16.4	22.9
Purchases, sales, issuances and settlements, net	0	(2.5)
Total realized and unrealized gains (losses) included in net income	(0.3)	(0.5)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	1.2
Transfers into level 3	0.8	0
Transfers out of level 3	(16.4)	(4.7)
Ending balance	0.5	16.4
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	(0.3)	(0.5)
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	0	0
Other invested assets - residual tranches
Assets:
Beginning balance	0
Purchases, sales, issuances and settlements, net	18.6
Total realized and unrealized gains (losses) included in net income	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(2.1)
Transfers into level 3	1.8
Transfers out of level 3	0
Ending balance	18.3	$ 0
Amount of total gains (losses) for the year included in our net income relating to assets still held as of the reporting date	0
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	$ (2.1)

FAIR VALUE MEASUREMENTS - FAI_4

FAIR VALUE MEASUREMENTS - FAIR VALUE ASSETS AND LIABILITIES MEASURED ON A RECURRING BASIS, UNOBSERVABLE INPUT RECONCILIATION - ACTIVITY (Details) - Significant unobservable inputs  (Level 3) - Fair value, Measurements, Recurring - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Corporate securities
Assets:
Purchases	$ 27.3	$ 25.2
Sales	(12.1)	(0.2)
Issuances	0	0
Settlements	0	0
Purchases, sales, issuances and settlements, net	15.2	25
Corporate securities | Investments held by variable interest entities - corporate securities
Assets:
Purchases	0	0
Sales	(2.1)	(0.2)
Issuances	0	0
Settlements	0	0
Purchases, sales, issuances and settlements, net	(2.1)	(0.2)
Asset-backed securities
Assets:
Purchases	41	15
Sales	(2.9)	(0.6)
Issuances	0	0
Settlements	0	0
Purchases, sales, issuances and settlements, net	38.1	14.4
Collateralized loan obligations
Assets:
Purchases		5
Sales		0
Issuances		0
Settlements		0
Purchases, sales, issuances and settlements, net	0	5
Non-agency residential mortgage-backed securities
Assets:
Purchases	20.3
Sales	(6)
Issuances	0
Settlements	0
Purchases, sales, issuances and settlements, net	14.3	0
Commercial mortgage-backed securities
Assets:
Purchases		6.5
Sales		0
Issuances		0
Settlements		0
Purchases, sales, issuances and settlements, net	0	6.5
Total fixed maturities, available for sale
Assets:
Purchases	88.6	51.7
Sales	(21)	(0.8)
Issuances	0	0
Settlements	0	0
Purchases, sales, issuances and settlements, net	67.6	50.9
Equity securities - corporate securities
Assets:
Purchases	67	0.2
Sales	(3.1)	(8.2)
Issuances	0	0
Settlements	0	0
Purchases, sales, issuances and settlements, net	63.9	(8)
Trading securities - non-agency residential mortgage-backed securities
Assets:
Purchases		0
Sales		(2.5)
Issuances		0
Settlements		0
Purchases, sales, issuances and settlements, net	0	$ (2.5)
Other invested assets - residual tranches
Assets:
Purchases	18.6
Sales	0
Issuances	0
Settlements	0
Purchases, sales, issuances and settlements, net	$ 18.6

FAIR VALUE MEASUREMENTS - CHANG

FAIR VALUE MEASUREMENTS - CHANGES IN VALUE OF EMBEDDED DERIVATIVES (Details) - Significant unobservable inputs  (Level 3) - Fixed Index Annuity Products - Fair value, Measurements, Recurring - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Liabilities:
Balance at beginning of the period	$ 1,724.1	$ 1,644.5
Premiums less benefits	61.4	103.1
Change in fair value, net	(488.5)	(23.5)
Balance at end of the period	$ 1,297	$ 1,724.1

FAIR VALUE MEASUREMENTS - FAI_5

FAIR VALUE MEASUREMENTS - FAIR VALUE INPUTS (Details) $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 01, 2020 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale	$ 20,353.4	$ 24,805.4	$ 21,293.1
Equity securities - corporate securities	135.3	131.1
Significant unobservable inputs  (Level 3)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets carried at fair value by category	353.4	170.4
Significant unobservable inputs  (Level 3) | Unadjusted third-party price source
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other assets	249	132.4
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Embedded derivatives associated with fixed indexed annuity products (classified as policyholder account liabilities)	$ 1,297	$ 1,724.1
Significant unobservable inputs  (Level 3) | Discount margins/rate | Discounted projected embedded derivatives | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0377	0.0031
Significant unobservable inputs  (Level 3) | Discount margins/rate | Discounted projected embedded derivatives | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0548	0.0318
Significant unobservable inputs  (Level 3) | Discount margins/rate | Discounted projected embedded derivatives | Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0447	0.0189
Significant unobservable inputs  (Level 3) | EBITDA Multiple | Market comparables | Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	8.5
Significant unobservable inputs  (Level 3) | Percent of recovery expected | Recovery method | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	0	0
Unobservable inputs, assets	0	0
Significant unobservable inputs  (Level 3) | Percent of recovery expected | Recovery method | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	0.3500	1
Unobservable inputs, assets	1	1
Significant unobservable inputs  (Level 3) | Percent of recovery expected | Recovery method | Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	0.3500	1
Unobservable inputs, assets	1	1
Significant unobservable inputs  (Level 3) | Projected portfolio yields | Discounted projected embedded derivatives | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0430	0.0398
Significant unobservable inputs  (Level 3) | Projected portfolio yields | Discounted projected embedded derivatives | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0463	0.0437
Significant unobservable inputs  (Level 3) | Projected portfolio yields | Discounted projected embedded derivatives | Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0431	0.0399
Significant unobservable inputs  (Level 3) | Surrender rates | Discounted projected embedded derivatives | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0190	0.0150
Significant unobservable inputs  (Level 3) | Surrender rates | Discounted projected embedded derivatives | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.2770	0.2640
Significant unobservable inputs  (Level 3) | Surrender rates | Discounted projected embedded derivatives | Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0920	0.0900
Significant unobservable inputs  (Level 3) | Corporate securities | Discounted cash flow analysis
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale	$ 2.9	$ 0.1
Significant unobservable inputs  (Level 3) | Corporate securities | Recovery method
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale	3.5	2.3
Significant unobservable inputs  (Level 3) | Corporate securities | Unadjusted purchase price
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale	$ 0.5	$ 12.5
Significant unobservable inputs  (Level 3) | Corporate securities | Discount margins/rate | Discounted cash flow analysis | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	0.0223
Significant unobservable inputs  (Level 3) | Corporate securities | Discount margins/rate | Discounted cash flow analysis | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	0.0394
Significant unobservable inputs  (Level 3) | Corporate securities | Discount margins/rate | Discounted cash flow analysis | Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	0.0225	0.0449
Significant unobservable inputs  (Level 3) | Asset-backed securities | Discounted cash flow analysis
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale	$ 21.8	$ 11.6
Significant unobservable inputs  (Level 3) | Asset-backed securities | Discount margins/rate | Discounted cash flow analysis | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	0.0250
Significant unobservable inputs  (Level 3) | Asset-backed securities | Discount margins/rate | Discounted cash flow analysis | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	0.0386
Significant unobservable inputs  (Level 3) | Asset-backed securities | Discount margins/rate | Discounted cash flow analysis | Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, assets	0.0330	0.0150
Significant unobservable inputs  (Level 3) | Equity Securities | Recovery method
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities - corporate securities	$ 0.1	$ 3.3
Significant unobservable inputs  (Level 3) | Equity Securities | Unadjusted purchase price
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities - corporate securities	11.7	$ 8.2
Significant unobservable inputs  (Level 3) | Equity Securities | Market comparables
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities - corporate securities	$ 63.9

LIABILITIES FOR INSURANCE PRO_3

LIABILITIES FOR INSURANCE PRODUCTS - SCHEDULE OF INSURANCE LIABILITIES BY PRODUCT SEGMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, by Product Segment [Line Items]
Future policy benefits	$ 11,809.1	$ 11,670.7
Policyholder account balance	$ 14,858.3	13,689.7
Long-term care
Liability for Future Policy Benefit, by Product Segment [Line Items]
Average interest rate assumption	5%
Future policy benefits	$ 5,292.4	5,236.1
Traditional life insurance contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Average interest rate assumption	5%
Future policy benefits	$ 2,695.6	2,632.4
Accident and health contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Average interest rate assumption	5%
Future policy benefits	$ 3,384.3	3,302.7
Interest-sensitive life insurance contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Average interest rate assumption	5%
Future policy benefits	$ 53.5	73.6
Policyholder account balance	$ 1,323	1,281.8
Annuities and supplemental contracts with life contingencies
Liability for Future Policy Benefit, by Product Segment [Line Items]
Average interest rate assumption	3%
Future policy benefits	$ 383.3	425.9
Fixed indexed annuities
Liability for Future Policy Benefit, by Product Segment [Line Items]
Policyholder account balance	9,268.9	8,891.7
Other annuities
Liability for Future Policy Benefit, by Product Segment [Line Items]
Policyholder account balance	2,855.6	3,014.2
Funding agreements
Liability for Future Policy Benefit, by Product Segment [Line Items]
Policyholder account balance	$ 1,410.8	$ 502

LIABILITIES FOR INSURANCE PRO_4

LIABILITIES FOR INSURANCE PRODUCTS - SUMMARY OF LIABILITIES FOR UNPAID CLAIMS ADJUSTMENT EXPENSE (Details) - Accident and Health Insurance Product Line - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance, beginning of year	$ 1,742.2	$ 1,825	$ 1,921.2
Less reinsurance (receivables) payables	(863.2)	(814.6)	(881.5)	$ (993.2)
Net balance, beginning of year	927.6	943.5	928
Incurred claims related to:
Current year	1,177.8	1,205	1,177.8
Prior years	(111.2)	(111.5)	(75.2)
Total incurred	1,066.6	1,093.5	1,102.6
Interest on claim reserves	33.1	34.8	36.8
Paid claims related to:
Current year	(789.6)	(802.9)	(766.1)
Prior years	(342.6)	(341.3)	(357.8)
Total paid	(1,132.2)	(1,144.2)	(1,123.9)
Net balance, end of year	895.1	927.6	943.5
Add reinsurance receivables (payables)	863.2	814.6	881.5	$ 993.2
Balance, end of year	$ 1,758.3	$ 1,742.2	$ 1,825

INCOME TAXES - SCHEDULE OF COMP

INCOME TAXES - SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current tax expense (benefit)									$ 31.8	$ 64.1	$ (24)
Deferred tax expense									88.7	62.6	100.5
Income tax expense calculated based on annual effective tax rate									120.5	126.7	76.5
Income tax expense on discrete items:
Carryback of net operating losses to years with a higher statutory corporate rate pursuant to provisions of the CARES Act (as defined below)									0	0	(34)
Total income tax expense	$ 12	$ 32.2	$ 39.3	$ 37	$ 32.3	$ 28.2	$ 23.6	$ 42.6	$ 120.5	$ 126.7	$ 42.5

INCOME TAXES - NARRATIVE (Detai

INCOME TAXES - NARRATIVE (Details)	1 Months Ended	12 Months Ended
	Jul. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2010	Dec. 31, 2009	Jan. 30, 2009 right
Operating Loss Carryforwards [Line Items]
Carryback of net operating losses to years with a higher statutory corporate rate pursuant to provision of the CARES Act		$ 0	$ 0	$ 34,000,000
Tax refund due to CARES Act	$ 80,000,000
Net deferred tax assets		$ 1,157,500,000	112,200,000
Loss limitation based on income of life insurance company, percent		35%
Loss limitation based on loss of non-life entities, percent		35%
Federal long-term tax exempt rate		3.29%
Ownership change threshold restricting NOL usage		50%
Ownership percentage threshold relating to company 382 provision, ownership percentage at which transfers of common stock become void (less than)					4.99%	5%
Number of rights for each share | right							1
Ownership percentage threshold relating to company 382 securities							4.99%
Net state operating loss carryforwards		$ 2,500,000	2,300,000
Unrecognized tax benefits		0	$ 0
Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards		$ 800,000,000
Tax Year 2018 And Later
Operating Loss Carryforwards [Line Items]
Acceleration of the utilization of life NOLs				375,000,000
Restoration of non-life NOLs				130,000,000
Tax Years Before 2021
Operating Loss Carryforwards [Line Items]
Acceleration of the utilization of life NOLs				105,000,000
Restoration of non-life NOLs				$ 35,000,000

INCOME TAXES - SCHEDULE OF EFFE

INCOME TAXES - SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. statutory corporate rate	21%	21%	21%
Non-taxable income and nondeductible benefits, net	(0.40%)	(0.50%)	(0.40%)
State taxes	2.70%	1.80%	1.60%
Carryback of net operating losses to years with a higher statutory corporate rate pursuant to provisions of the CARES Act	0%	0%	(9.90%)
Effective tax rate	23.30%	22.30%	12.30%

INCOME TAXES - SCHEDULE OF DEFE

INCOME TAXES - SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2020
Deferred tax assets:
Net federal operating loss carryforwards	$ 166	$ 241.4
Net state operating loss carryforwards	2.5	2.3
Insurance liabilities	322.2	390.7
Indirect costs allocable to self-constructed real estate assets	214.8	158.3
Accumulated other comprehensive loss	589	0
Other	7.3	27.5
Gross deferred tax assets	1,301.8	820.2
Deferred tax liabilities:
Investments	(37.2)	(48.2)
Present value of future profits and deferred acquisition costs	(107.1)	(119.4)
Accumulated other comprehensive income	0	(540.4)
Gross deferred tax liabilities	(144.3)	(708)
Net deferred tax assets	1,157.5	112.2
Current income taxes prepaid	8	6.1
Income tax assets, net	$ 1,165.5	$ 118.3	$ 437.5

INCOME TAXES - SUMMARY OF OPERA

INCOME TAXES - SUMMARY OF OPERATING LOSS CARRYFORWARDS (Details) $ in Millions	Dec. 31, 2022 USD ($)
Operating Loss Carryforwards [Line Items]
Total federal non-life NOLs	$ 790.3
2023
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	203.7
2025
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	85.2
2026
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	149.9
2027
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	10.8
2028
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	80.3
2029
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	213.2
2030
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0.3
2031
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0.2
2032
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	44.4
2033
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0.6
2034
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0.9
2035
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 0.8

NOTES PAYABLE - DIRECT CORPOR_3

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Nov. 30, 2020	Jun. 12, 2019	May 19, 2015
Debt Instrument [Line Items]
Notes payable – direct corporate obligations	$ 1,138.8	$ 1,137.3
Unamortized debt issuance costs	$ (11.2)	(12.7)
Senior Notes | 5.250% Senior Notes due May 2025
Debt Instrument [Line Items]
Interest rate	5.25%				5.25%
Notes payable – direct corporate obligations	$ 500	500
Senior Notes | 5.250% Senior Notes due May 2029
Debt Instrument [Line Items]
Interest rate	5.25%			5.25%
Notes payable – direct corporate obligations	$ 500	500
Subordinated Debt | 5.125% Subordinated Debentures due 2060
Debt Instrument [Line Items]
Interest rate	5.125%		5.125%
Notes payable – direct corporate obligations	$ 150	150
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable – direct corporate obligations	$ 0	$ 0

NOTES PAYABLE - DIRECT CORPOR_4

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS - NARRATIVE (Details) - USD ($)			1 Months Ended
	Jun. 12, 2019	May 19, 2015	Nov. 30, 2020	Dec. 31, 2022
Subordinated Debt | Prior to November 25, 2025
Debt Instrument [Line Items]
Redemption price, percent			102%
5.125% Subordinated Debentures due 2060 | Subordinated Debt
Debt Instrument [Line Items]
Amount issued			$ 150,000,000
Interest rate			5.125%	5.125%
5.125% Subordinated Debentures due 2060 | Subordinated Debt | On or After November 25, 2025
Debt Instrument [Line Items]
Amount issued			$ 25,000,000
5.250% Senior Notes due May 2029 | Senior Notes
Debt Instrument [Line Items]
Amount issued	$ 500,000,000
Interest rate	5.25%			5.25%
Debt default, percentage of principal amount outstanding	50%
5.250% Senior Notes due May 2029 | Senior Notes | On and After February 28, 2029
Debt Instrument [Line Items]
Redemption price, percent	100%
5.250% Senior Notes due May 2029 | Senior Notes | Change of Control Repurchase Event
Debt Instrument [Line Items]
Redemption price, percent	101%
4.500% Senior Notes due May 2020 | Senior Notes
Debt Instrument [Line Items]
Amount issued		$ 325,000,000
Interest rate		4.50%
5.250% Senior Notes due May 2025 | Senior Notes
Debt Instrument [Line Items]
Amount issued		$ 500,000,000
Interest rate		5.25%		5.25%
Debt default, percentage of principal amount outstanding		25%
5.250% Senior Notes due May 2025 | Senior Notes | Change of Control Repurchase Event
Debt Instrument [Line Items]
Redemption price, percent		101%
5.250% Senior Notes due May 2025 | Senior Notes | On and After February 28, 2025
Debt Instrument [Line Items]
Redemption price, percent		100%

NOTES PAYABLE - DIRECT CORPOR_5

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS - REVOLVING CREDIT AGREEMENT (Details) - USD ($)	Oct. 13, 2017	May 19, 2015	Dec. 31, 2022	Dec. 31, 2021	Jul. 16, 2021	Jul. 15, 2021
Debt Instrument [Line Items]
Notes payable – direct corporate obligations			$ 1,138,800,000	$ 1,137,300,000
Minimum | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate	1.375%
Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.375%
Maximum | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate	2.125%
Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 250,000,000	$ 150,000,000
Debt Instrument, term		4 years
Initial drawing amount		$ 100,000,000
Total capitalization percentage					15%
Minimum consolidated net worth percentage					25%	50%
Notes payable – direct corporate obligations			$ 0	$ 0
Potential additional borrowing capacity		100,000,000
Debt covenant, required minimum debt to total capitalization ratio	35%
Debt covenant, actual debt to total capitalization ratio at period end			21.60%
Debt covenant, minimum required consolidated net worth, component one, amount		$ 2,674,000,000
Debt covenant, minimum required consolidated net worth, component two, as a percent of net equity proceeds received from issuance and sale of equity interests		25%
Debt covenant, actual consolidated net worth at period end			$ 3,493,900,000
Debt covenant, required minimum consolidated net worth, amount			$ 2,694,400,000
Revolving Credit Facility | Line of Credit | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Remaining borrowing capacity		$ 50,000,000
Revolving Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Remaining borrowing capacity	$ 100,000,000
Bridge Loan | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		5,000,000
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 5,000,000

NOTES PAYABLE - DIRECT CORPOR_6

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS - SCHEDULE OF MATURITIES OF LONG-TERM DEBT (Details) $ in Millions	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 0
2024	0
2025	500
2026	0
2027	0
Thereafter	650
Direct corporate obligations	$ 1,150

LITIGATION AND OTHER LEGAL PR_3

LITIGATION AND OTHER LEGAL PROCEEDINGS - NARRATIVE (Details) $ in Millions			5 Months Ended	12 Months Ended
	Mar. 25, 2022 policyholder	Apr. 09, 2019 trust_agreement	May 31, 2022 state	Dec. 31, 2022 USD ($) individual	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Number of trust agreements | trust_agreement		4
Number of policyholders | policyholder	2,000
Number of states participating in examination of compliance with unclaimed property laws | state			42
Amount of insurance-related assessment liability				$ 6.2	$ 6.8
Premium tax offset for loss contingency accruals				10.6	12.6
Insurance-related assessment, expense recognized				2.1	2.7	$ 2.9
Operating leases and other contractual agreements, expense				$ 86.4	76.3	$ 74.9
Former Chief Executive Officers
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Number of Company's former chief executive officers' retirement benefits guaranteed by subsidiaries | individual				2
Deferred compensation arrangement with individual, recorded liability				$ 20.5	$ 21.2

LITIGATION AND OTHER LEGAL PR_4

LITIGATION AND OTHER LEGAL PROCEEDINGS - INFORMATION RELATED TO RIGHT TO USE ASSETS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease expense	$ 24.3	$ 24.6
Cash paid for operating lease liability	25.5	25.7
Right of use assets obtained in exchange for lease liabilities (non-cash transactions)	21.7	17.3
Total right of use assets	$ 46.6	$ 48.2
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets

LITIGATION AND OTHER LEGAL PR_5

LITIGATION AND OTHER LEGAL PROCEEDINGS - SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASES (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 22.4
2024	13.5
2025	8.1
2026	4.8
2027	1.9
Thereafter	0.6
Total undiscounted lease payments	51.3
Less interest	(1.7)
Present value of lease liabilities	$ 49.6
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities

LITIGATION AND OTHER LEGAL PR_6

LITIGATION AND OTHER LEGAL PROCEEDINGS - WEIGHTED AVERAGE INFORMATION (Details)	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term (in years)	3 years
Weighted average discount rate	2.30%

AGENT DEFERRED COMPENSATION P_3

AGENT DEFERRED COMPENSATION PLAN - NARRATIVE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Cost recognized for defined contribution plan	$ 10.3	$ 6.7	$ 6
Nonqualified Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Deferred compensation arrangement with individual, recorded liability	62.5	68.8
Company-owned life insurance	54.9	62
Deferred compensation arrangement contributions by employer	$ 6.3	6	4.9
Minimum | Nonqualified Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Deferred compensation arrangement vesting period	5 years
Maximum | Nonqualified Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Deferred compensation arrangement vesting period	10 years
Unfunded Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Deferred compensation arrangement with individual, recorded liability	$ 128.8	179.9
Net periodic benefit cost	(42.8)	(2.6)	22.8
Deferred compensation arrangement with individual, gain (loss) recognized	48.9	8.9	(16.3)
Company-owned life insurance	199.1	207
Change in value of corporate or bank owned life insurance	$ (4.4)	$ (2.7)	$ 15.7

AGENT DEFERRED COMPENSATION P_4

AGENT DEFERRED COMPENSATION PLAN - SCHEDULE OF ASSUMPTIONS USED (Details) - Unfunded Plan	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Benefit obligations:
Discount rate	5.25%	2.75%
Net periodic cost:
Discount rate	2.75%	2.50%

AGENT DEFERRED COMPENSATION P_5

AGENT DEFERRED COMPENSATION PLAN - SCHEDULE OF EXPECTED BENEFIT PAYMENTS (Details) - Unfunded Plan $ in Millions	Dec. 31, 2022 USD ($)
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
2023	$ 8.1
2024	8.3
2025	8.5
2026	8.9
2027	8.9
2028 - 2032	$ 44.7

DERIVATIVES - FAIR VALUE BY BAL

DERIVATIVES - FAIR VALUE BY BALANCE SHEET LOCATION (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Embedded Derivative Associated With Modified Coinsurance Agreement
Derivatives, Fair Value [Line Items]
Mark to market adjustment on embedded derivative	$ 92
Fixed indexed call options
Derivatives, Fair Value [Line Items]
Gross amounts recognized	56.7	$ 225
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Gross amounts recognized	38.9	225.8
Gross derivative liability	1,297	1,724.1
Not Designated as Hedging Instrument | Fixed indexed call options | Other invested assets
Derivatives, Fair Value [Line Items]
Gross amounts recognized	56.7	225
Not Designated as Hedging Instrument | Other | Other invested assets
Derivatives, Fair Value [Line Items]
Gross amounts recognized	0	2.5
Not Designated as Hedging Instrument | Reinsurance receivables | Reinsurance receivables
Derivatives, Fair Value [Line Items]
Gross amounts recognized	(17.8)	(1.7)
Not Designated as Hedging Instrument | Fixed indexed products | Fixed indexed products
Derivatives, Fair Value [Line Items]
Gross derivative liability	$ 1,297	$ 1,724.1

DERIVATIVES - SCHEDULE OF DERIV

DERIVATIVES - SCHEDULE OF DERIVATIVE INSTRUMENTS (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) policy
Fixed indexed annuities - embedded derivative
Derivative Instrument [Roll Forward]
Derivative beginning balance | policy	120,103
Additions | policy	13,503
Maturities/terminations | policy	(10,120)
Derivative ending balance | policy	123,486
Fixed indexed call options
Derivative, Notional Amount [Roll Forward]
Derivative notional amount beginning balance | $	$ 2,988.9
Additions | $	2,835.7
Maturities/terminations | $	(3,040.3)
Derivative notional amount ending balance | $	$ 2,784.3

DERIVATIVES - SCHEDULE PRE-TAX

DERIVATIVES - SCHEDULE PRE-TAX GAINS (LOSSES) RECOGNIZED IN NET REVENUES FOR DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Gains (losses) on derivative instruments not designated as hedging instruments	$ (222.7)	$ 217.8	$ 42.1
Investment Income (Loss) | Fixed indexed call options
Derivative [Line Items]
Gains (losses) on derivative instruments not designated as hedging instruments	(206.6)	220.9	39.5
Gain (Loss) on Investments | Embedded derivative related to modified coinsurance agreement | Embedded derivative related to modified coinsurance agreement
Derivative [Line Items]
Gains (losses) on derivative instruments not designated as hedging instruments	$ (16.1)	$ (3.1)	$ 2.6

DERIVATIVES - DERIVATIVES WITH

DERIVATIVES - DERIVATIVES WITH MASTER NETTING ARRANGEMENTS (Details) - Fixed indexed call options - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Gross amounts recognized	$ 56.7	$ 225
Gross amounts offset in the balance sheet	0	0
Net amounts of assets presented in the balance sheet	56.7	225
Financial instruments	0	0
Cash collateral received	0	0
Net amount	$ 56.7	$ 225

SHAREHOLDERS' EQUITY - NARRATIV

SHAREHOLDERS' EQUITY - NARRATIVE (Details) $ / shares in Units, $ in Millions	4 Months Ended			8 Months Ended			12 Months Ended				60 Months Ended	72 Months Ended
	Apr. 30, 2022 $ / shares	Apr. 30, 2021 $ / shares	Apr. 30, 2020 $ / shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2018 shares	Dec. 31, 2014	Dec. 31, 2020 USD ($) shares	Jan. 30, 2009 right
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury stock purchased and retired (in shares) | shares							7,600,000	16,600,000	14,500,000
Repurchased and retired during period, value							$ 180	$ 402.4	$ 263
Stock repurchase program, remaining repurchase authorized amount				$ 186.9			186.9
Dividends, common stock, cash				$ 65	$ 66.1	$ 67.4	$ 65	$ 66.1	$ 67.4			$ 67.4
Dividends (in USD per share) | $ / shares	$ 0.13	$ 0.12	$ 0.11	$ 0.14	$ 0.13	$ 0.12	$ 0.55	$ 0.51	$ 0.47
Available for future grant (in shares) | shares				5,600,000	7,800,000	8,800,000	5,600,000	7,800,000	8,800,000			8,800,000
Options granted (in shares) | shares							0	0	0
Proceeds from stock options exercised							$ 10.4	$ 18.4	$ 16.5
Number of rights for each share | right													1
Number of shares purchased by each right | shares				0.001			0.001
Price of junior preferred stock (per 1/1000 of a share) (in USD per share) | $ / shares				$ 95			$ 95
Junior preferred stock right becomes exercisable when a person or group becomes owner of stated percentage (more than)							4.99%
Series E Preferred Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Series E junior participating preferred stock par value (in USD per share) | $ / shares				$ 0.01			$ 0.01
Five Year Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares) | shares										1,600,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period							10 years
Allocated share-based compensation expense							$ 0.9	1.6	2.6
Allocated share-based compensation expense, net of tax							$ 0.7	$ 1.3	$ 2.1
Effect of compensation expense related to stock options on basic and diluted earnings per share (in USD per share) | $ / shares							$ 0.01	$ 0.01	$ 0.01
Unrecognized compensation expense				$ 0.3			$ 0.3
Weighted average recognition period							4 months 24 days
Employee Stock Option | Years 2010 through 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period											7 years
Vesting period											3 years
Employee Stock Option | Years 2015 through 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period												10 years
Vesting period												3 years
Employee Stock Option | Year 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period										10 years
Vesting period										5 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period							3 years
Allocated share-based compensation expense							$ 9.9	$ 9	$ 8.7
Unrecognized compensation expense				9.8	$ 8.7		$ 9.8	$ 8.7
Weighted average recognition period							1 year 10 months 24 days
Granted (in shares) | shares							509,000
Granted (in USD per share) | $ / shares							$ 23.59	$ 23.53	$ 18.28
Grant date fair value of performance shares awarded				12	10.5	$ 9.5	$ 12	$ 10.5	$ 9.5			$ 9.5
Fair value of vested shares							$ 8.3	$ 8.4	$ 6.8
Restricted Stock | Directors, Officers, and Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares							500,000	400,000	500,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense							$ 13.8	$ 14.6	$ 12.5
Granted (in shares) | shares							400,000	400,000	500,000
Grant date fair value of performance shares awarded				$ 10.5	$ 9.9		$ 10.5	$ 9.9
Performance unit payout							200%	200%	200%
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period							1 year
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period							3 years
Total shareholder return awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance unit payout							200%	200%	200%

SHAREHOLDERS' EQUITY - SCHEDULE

SHAREHOLDERS' EQUITY - SCHEDULE OF SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares
Outstanding at the beginning of the year (in shares)	3,411,000	4,544,000	6,015,000
Options granted (in shares)	0	0	0
Exercised (in shares)	(618,000)	(1,023,000)	(1,104,000)
Forfeited or terminated (in shares)	(57,000)	(110,000)	(367,000)
Outstanding at the end of the year (in shares)	2,736,000	3,411,000	4,544,000
Options exercisable at the end of the year (in shares)	2,540,000	2,662,000	2,946,000
Weighted average exercise price
Outstanding at the beginning of the year (in USD per share)	$ 19.28	$ 19.01	$ 18.59
Options granted (in USD per share)	0	0	0
Exercised (in USD per share)	(18.43)	(18.01)	(16.59)
Forfeited or terminated (in USD per share)	(20.18)	(19.97)	(19.40)
Outstanding at the end of the year (in USD per share)	$ 19.45	$ 19.28	$ 19.01
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Outstanding, weighted average remaining life	4 years 8 months 12 days	5 years	5 years 7 months 6 days
Options exercisable at the end of the year, weighted average remaining life	4 years 7 months 6 days	4 years 7 months 6 days	4 years 6 months
Exercised, aggregate intrinsic value	$ 3.8	$ 7.8	$ 9
Options outstanding, aggregate intrinsic value	15.1	19.2	27.5
Options exercisable at the end of the year, aggregate intrinsic value	$ 14.1	$ 15.7	$ 19.9

SHAREHOLDERS' EQUITY - SCHEDU_2

SHAREHOLDERS' EQUITY - SCHEDULE OF SHARE-BASED COMPENSATION BY EXERCISE PRICE RANGE (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number outstanding (in shares) | shares	2,736
Options exercisable, Number exercisable (in shares) | shares	2,540
$15.08 - $21.06
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise prices, lower range limit (in USD per share)	$ 15.08
Range of exercise prices, upper range limit (in USD per share)	$ 21.06
Number outstanding (in shares) | shares	2,412
Options outstanding, Remaining life (in years)	4 years 8 months 12 days
Options outstanding, Average exercise price (in USD per share)	$ 18.93
Options exercisable, Number exercisable (in shares) | shares	2,216
Options exercisable, Average exercise price (in USD per share)	$ 18.80
$23.33
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise prices, upper range limit (in USD per share)	$ 23.33
Number outstanding (in shares) | shares	324
Options outstanding, Remaining life (in years)	4 years 9 months 18 days
Options outstanding, Average exercise price (in USD per share)	$ 23.33
Options exercisable, Number exercisable (in shares) | shares	324
Options exercisable, Average exercise price (in USD per share)	$ 23.33

SHAREHOLDERS' EQUITY - SCHEDU_3

SHAREHOLDERS' EQUITY - SCHEDULE OF NONVESTED SHARE ACTIVITY (Details) - Restricted Stock - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares
Non-vested shares, beginning of year (in shares)	975
Granted (in shares)	509
Vested (in shares)	(418)
Forfeited (in shares)	(43)
Non-vested shares, end of year (in shares)	1,023	975
Weighted average grant date fair value
Non-vested shares, beginning of year (in USD per share)	$ 20.30
Granted (in USD per share)	23.59	$ 23.53	$ 18.28
Vested (in USD per share)	(19.79)
Forfeited (in USD per share)	(23.52)
Non-vested shares, end of year (in USD per share)	$ 22.01	$ 20.30

SHAREHOLDERS' EQUITY - SCHEDU_4

SHAREHOLDERS' EQUITY - SCHEDULE OF PERFORMANCE SHARE-BASED COMPENSATION (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total shareholder return awards
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Awards outstanding, beginning of period (in shares)	203	339	551
Granted (in shares)	0	0	0
Additional shares issued pursuant to achieving certain performance criteria (in shares)	188	0	0
Shares vested (in shares)	(389)	(81)	0
Forfeited (in shares)	0	(55)	(212)
Awards outstanding, end of period (in shares)	2	203	339
Operating return on equity awards
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Awards outstanding, beginning of period (in shares)	635	581	551
Granted (in shares)	204	209	247
Additional shares issued pursuant to achieving certain performance criteria (in shares)	186	57	138
Shares vested (in shares)	(390)	(178)	(281)
Forfeited (in shares)	(24)	(34)	(74)
Awards outstanding, end of period (in shares)	611	635	581
Operating earnings per share awards
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Awards outstanding, beginning of period (in shares)	425	239	0
Granted (in shares)	204	209	247
Additional shares issued pursuant to achieving certain performance criteria (in shares)	0	0	0
Shares vested (in shares)	0	0	0
Forfeited (in shares)	(25)	(23)	(8)
Awards outstanding, end of period (in shares)	604	425	239

SHAREHOLDERS' EQUITY - SCHEDU_5

SHAREHOLDERS' EQUITY - SCHEDULE OF EARNINGS PER SHARE RECONCILIATION (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Net income for basic earnings per share	$ 396.8	$ 441	$ 301.8
Shares:
Weighted average shares outstanding for basic earnings per share (in shares)	115,733	128,400	142,096
Effect of dilutive securities on weighted average shares:
Amounts related to employee benefit plans (in shares)	1,984	2,726	1,068
Weighted average shares outstanding for diluted earnings per share (in shares)	117,717	131,126	143,164

OTHER OPERATING STATEMENT DAT_2

OTHER OPERATING STATEMENT DATA - SCHEDULE OF INSURANCE POLICY INCOME (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Direct premiums collected	$ 4,619.7	$ 4,457.7	$ 4,176
Reinsurance assumed	18.6	20.7	23
Reinsurance ceded	(214.6)	(231.3)	(247.8)
Premiums collected, net of reinsurance	4,423.7	4,247.1	3,951.2
Change in unearned premiums	9.8	0.9	9.2
Less premiums on interest-sensitive life and products without mortality and morbidity risk which are recorded as additions to insurance liabilities	(2,123.6)	(1,905.2)	(1,620.1)
Premiums on traditional products with mortality or morbidity risk	2,309.9	2,342.8	2,340.3
Fees and surrender charges on interest-sensitive products	189.9	180.6	171
Insurance policy income	2,499.8	2,523.4	$ 2,511.3
FABN Program
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Direct premiums collected	$ 899	$ 499.9

OTHER OPERATING STATEMENT DAT_3

OTHER OPERATING STATEMENT DATA - NARRATIVE (Details) - state	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Number of states	4
Percentage of total collected premiums (more than 5%)	5%
Present Value of Future Insurance Profits, Percentage of Amortization Expense, Next Five Years [Abstract]
2023	11%
2024	11%
2025	9%
2026	8%
2027	7%
Average interest accrual rate associated with amortization method of present value of future insurance profits	5%	5%	5%
Florida
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Percentage of total collected premiums (more than 5%)	11%
Pennsylvania
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Percentage of total collected premiums (more than 5%)	6%
Iowa
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Percentage of total collected premiums (more than 5%)	6%
Texas
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Percentage of total collected premiums (more than 5%)	5%

OTHER OPERATING STATEMENT DAT_4

OTHER OPERATING STATEMENT DATA - SCHEDULE OF OTHER OPERATING COST AND EXPENSE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Expenses:
Commission expense	$ 117.9	$ 116.4	$ 111.8
Salaries and wages	287.9	267.9	252.6
Other	548.8	603	577.6
Total other operating costs and expenses	$ 954.6	$ 987.3	$ 942

OTHER OPERATING STATEMENT DAT_5

OTHER OPERATING STATEMENT DATA - SCHEDULE OF CHANGES IN DEFERRED ACQUISITION COSTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 1,112	$ 1,027.8	$ 1,215.5
Additions	332.2	298.8	275.8
Amortization	(282.7)	(252.4)	(233.4)
Amounts related to changes in unrealized investment gains (losses) on fixed maturities, available for sale	751.9	37.8	(230.1)
Balance, end of year	$ 1,913.4	$ 1,112	$ 1,027.8

OTHER OPERATING STATEMENT DAT_6

OTHER OPERATING STATEMENT DATA - SCHEDULE OF CHANGES IN PRESENT VALUE OF FUTURE INSURANCE PROFITS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance, beginning of year	$ 222.6	$ 249.4	$ 275.4
Amortization	(26.9)	(28.7)	(34.7)
Amounts related to changes in unrealized investment gains (losses) on fixed maturities, available for sale	16.5	1.9	8.7
Balance, end of year	$ 212.2	$ 222.6	$ 249.4

CONSOLIDATED STATEMENT OF CAS_4

CONSOLIDATED STATEMENT OF CASH FLOWS - SCHEDULE OF THE RECONCILIATION FOR NET INCOME PROVIDED BY OPERATING ACTIVITIES (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 43.4	$ 105	$ 136.1	$ 112.3	$ 115.8	$ 99.8	$ 78	$ 147.4	$ 396.8	$ 441	$ 301.8
Adjustments to reconcile net income to net cash from operating activities:
Amortization and depreciation									345.3	319.5	303.9
Income taxes									86.6	146.5	14.1
Insurance liabilities									(175.6)	346.2	397.6
Accrual and amortization of investment income									138.7	(347.6)	(125.2)
Deferral of policy acquisition costs									(332.2)	(298.8)	(275.8)
Net investment (gains) losses									135.4	(19.1)	36.2
Other									(99.6)	10.6	82.9
Net cash from operating activities									495.4	598.3	735.5
Stock options, restricted stock and performance units									$ 25.2	$ 26	$ 24.5

STATUTORY INFORMATION (BASED _3

STATUTORY INFORMATION (BASED ON NON-GAAP MEASURES) - SCHEDULE OF STATUTORY ACCOUNTING PRACTICES (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Insurance [Abstract]
Statutory capital and surplus	$ 1,849.8	$ 1,799.6
Asset valuation reserve	305.8	332.5
Interest maintenance reserve	395.7	407.9
Total	$ 2,551.3	$ 2,540

STATUTORY INFORMATION (BASED _4

STATUTORY INFORMATION (BASED ON NON-GAAP MEASURES) - NARRATIVE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statutory Accounting Practices [Line Items]
Statutory capital and surplus included investments in upstream affiliates	$ 42.6	$ 42.6
Statutory accounting practices, statutory net income, amount	238	277.5	$ 409.6
Favorable impact to net operating income due to CARES Act			99
Favorable impact to capital and surplus due to CARES Act			53
Statutory accounting practices, net realized capital gain (loss), net of income taxes	(25.9)	(11.2)	(11.9)
Statutory accounting practices, pre-tax amounts for fees and interest paid	$ 168.4	$ 164.2	$ 163.8
Percentage of statutory capital and surplus, available for dividend distribution without prior approval from regulatory agency	10%
Amount of dividends paid by insurance subsidiaries	$ 143.6
Capital contribution	$ 14.6
Trended adjusted capital to risk-based capital ratio threshold (less than)	95%
Company Plan for Improving Capital Position | Maximum
Statutory Accounting Practices [Line Items]
Adjusted capital to risk-based capital ratio	100%
Company Plan for Improving Capital Position | Minimum
Statutory Accounting Practices [Line Items]
Adjusted capital to risk-based capital ratio	75%
Regulatory Authority Special Examination | Maximum
Statutory Accounting Practices [Line Items]
Adjusted capital to risk-based capital ratio	75%
Regulatory Authority Special Examination | Minimum
Statutory Accounting Practices [Line Items]
Adjusted capital to risk-based capital ratio	50%
Regulatory Authority, Any Action Deemed Necessary | Maximum
Statutory Accounting Practices [Line Items]
Adjusted capital to risk-based capital ratio	50%
Regulatory Authority, Any Action Deemed Necessary | Minimum
Statutory Accounting Practices [Line Items]
Adjusted capital to risk-based capital ratio	35%
Regulatory Authority Control | Maximum
Statutory Accounting Practices [Line Items]
Adjusted capital to risk-based capital ratio	35%
Trend Test | Maximum
Statutory Accounting Practices [Line Items]
Adjusted capital to risk-based capital ratio	150%
Trend Test | Minimum
Statutory Accounting Practices [Line Items]
Adjusted capital to risk-based capital ratio	100%

BUSINESS SEGMENTS BUSINESS SEGM

BUSINESS SEGMENTS BUSINESS SEGMENTS - NARRATIVE (Details)	12 Months Ended
	Dec. 31, 2022 product_line
Segment Reporting [Abstract]
Number of product lines	3

BUSINESS SEGMENTS - SCHEDULE OF

BUSINESS SEGMENTS - SCHEDULE OF SEGMENT REPORTING INFORMATION BY SEGMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Insurance policy income	$ 2,499.8	$ 2,523.4	$ 2,511.3
Net investment income	1,015.9	1,420.7	1,222.5
Fee revenue and other income	196.5	159	123.5
Total segment revenues	3,667	4,076.1	3,807.5
Benefits and expenses:
Insurance policy benefits	1,658.3	2,190.7	2,157.9
Interest credited
Interest expense	137	95.4	108.8
Other operating costs and expenses	954.6	987.3	942
Total segment expenses	3,309.9	3,605.5	3,343.7
Operating earnings before taxes	357.1	470.6	463.8
Income tax expense on operating income	83.2	105	101.5
Net operating income	273.9	365.6	362.3
Insurance Product Lines
Benefits and expenses:
Allocated expenses	596.6	566.5	557.7
Total insurance product margin	811.3	913.7	921.5
Operating earnings before taxes	214.7	347.2	363.8
Investments not allocated to product lines
Revenues:
Change in market values of the underlying options supporting the fixed indexed annuity and life products (offset by market value changes credited to policyholder balances)	(205.3)	219.8	37.8
Investment income not allocated to product lines	272.1	273.3	258.5
Benefits and expenses:
Interest credited	28.5	2.2	0
Amortization	1.5	0.1	0
Market value changes of options credited to fixed indexed annuity and life policyholders	(205.3)	219.8	37.8
Interest expense	96	72.2	76.4
Other operating costs and expenses	(13.4)	16.6	15
Total insurance product margin	159.5	184.5	167.1
Assets of our other non-life companies
Revenues:
Fee revenue and other income	169.3	147.6	106
Benefits and expenses:
Commissions and other operating expenses	145.6	128.2	89.3
Total insurance product margin	23.7	19.4	16.7
Expenses not allocated to product lines
Revenues:
Fee revenue and other income	30.5	17.2	6.9
Benefits and expenses:
Expenses not allocated to product lines	71.3	95.4	90.7
Total insurance product margin	(40.8)	(80.5)	(83.8)
Annuity | Insurance Product Lines
Revenues:
Insurance policy income	23.1	19.6	18.8
Net investment income	466.8	462.4	465.1
Total insurance product line revenue	489.9	482	483.9
Benefits and expenses:
Insurance policy benefits	124.3	(14.5)	(93.7)
Interest credited	178.1	149.1	170.6
Amortization, non-deferred commissions and advertising expense	26.4	77.1	110.3
Total expenses	328.8	211.7	187.2
Total insurance product margin	161.1	270.3	296.7
Health: | Insurance Product Lines
Revenues:
Insurance policy income	1,617.3	1,661.5	1,699.5
Net investment income	287.6	287.7	282.3
Total insurance product line revenue	1,904.9	1,949.2	1,981.8
Benefits and expenses:
Insurance policy benefits	1,241	1,266.3	1,329.7
Amortization, non-deferred commissions and advertising expense	186.6	189.9	192.3
Total expenses	1,427.6	1,456.2	1,522
Total insurance product margin	477.3	493	459.8
Life: | Insurance Product Lines
Revenues:
Insurance policy income	859.4	842.3	793
Net investment income	146.2	144.7	139.6
Total insurance product line revenue	1,005.6	987	932.6
Benefits and expenses:
Insurance policy benefits	585.2	613.5	570
Interest credited	47.4	44.4	44.5
Amortization, non-deferred commissions and advertising expense	200.1	178.7	153.1
Total expenses	832.7	836.6	767.6
Total insurance product margin	172.9	150.4	165
Allocated expenses | Insurance Product Lines
Benefits and expenses:
Total insurance product margin	$ (596.6)	$ (566.5)	$ (557.7)

BUSINESS SEGMENTS - RECONCILIAT

BUSINESS SEGMENTS - RECONCILIATION OF OPERATING PROFIT (LOSS) FROM SEGMENTS TO CONSOLIDATED (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total segment revenues									$ 3,667	$ 4,076.1	$ 3,807.5
Total investment gains (losses)									(17.9)	21.3	(18.4)
Total revenues	$ 973.6	$ 905.3	$ 855	$ 842.9	$ 1,074.8	$ 968.3	$ 1,073.1	$ 1,006	3,576.8	4,122.2	3,821.1
Total segment expenses									3,309.9	3,605.5	3,343.7
Other operating expenses									954.6	987.3	942
Total benefits and expenses									3,059.5	3,554.5	3,476.8
Income before income taxes	55.4	137.2	175.4	149.3	148.1	128	101.6	190	517.3	567.7	344.3
Income tax expense (benefit):
Income tax expense on period income									120.5	126.7	76.5
Valuation allowance for deferred tax assets and other tax items									0	0	(34)
Net income	$ 43.4	$ 105	$ 136.1	$ 112.3	$ 115.8	$ 99.8	$ 78	$ 147.4	396.8	441	301.8
Operating segments
Segment Reporting Information [Line Items]
Total segment revenues									3,667	4,076.1	3,807.5
Total segment expenses									3,309.9	3,605.5	3,343.7
Segment reconciling items
Segment Reporting Information [Line Items]
Total investment gains (losses)									(135.4)	19.1	(36.2)
Revenues related to earnings attributable to VIEs									45.2	27	35.5
Fee revenue related to transition services agreement									0	0	14.3
Insurance policy benefits - fair value changes in embedded derivative liabilities									(340.9)	(90.1)	99
Amortization related to fair value changes in embedded derivative liabilities									93.7	22.9	(19.9)
Amortization related to investment gains (losses)									(3.4)	1.7	(2.4)
Expenses attributable to VIEs									43	24.4	33.8
Fair value changes related to agent deferred compensation plan									(48.9)	(8.9)	16.3
Expenses related to transition services agreement									0	0	8.8
Other operating expenses									$ 6.1	$ (1)	$ (2.5)

BUSINESS SEGMENTS - SCHEDULE _2

BUSINESS SEGMENTS - SCHEDULE OF BALANCE SHEET INFORMATION, BY SEGMENT (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2020
Segment Reporting Information [Line Items]
Total assets	$ 33,339.2	$ 36,204.4	$ 33,613.1
Total liabilities	31,938.4	30,944.7
Investments not allocated to product lines
Segment Reporting Information [Line Items]
Total assets	8,203	7,093
Total liabilities	5,293.8	4,502.9
Non-life companies included in the fee income segment
Segment Reporting Information [Line Items]
Total assets	207.7	194
Total liabilities	23.5	25
Other non-life companies
Segment Reporting Information [Line Items]
Total assets	292.9	383.9
Total liabilities	208.8	244
Annuity | Insurance Product Lines
Segment Reporting Information [Line Items]
Total assets	11,323.9	13,288.6
Total liabilities	12,367	12,283.3
Health: | Insurance Product Lines
Segment Reporting Information [Line Items]
Total assets	9,221.6	10,558.7
Total liabilities	9,727.4	9,610
Life insurance inforce: | Insurance Product Lines
Segment Reporting Information [Line Items]
Total assets	4,090.1	4,686.2
Total liabilities	$ 4,317.9	$ 4,279.5

BUSINESS SEGMENTS - SCHEDULE _3

BUSINESS SEGMENTS - SCHEDULE OF SELECTED FINANCIAL INFORMATION, BY SEGMENT (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Present value of future profits	$ 212.2	$ 222.6	$ 249.4	$ 275.4
Insurance Product Lines
Segment Reporting Information [Line Items]
Present value of future profits	212.2	222.6
Deferred acquisition costs	1,913.4	1,112
Insurance liabilities	27,361.6	26,112.8
Annuity | Insurance Product Lines
Segment Reporting Information [Line Items]
Present value of future profits	8.5	0
Deferred acquisition costs	655.1	126.4
Insurance liabilities	12,104.9	11,956.2
Health | Insurance Product Lines
Segment Reporting Information [Line Items]
Present value of future profits	189.7	205.9
Deferred acquisition costs	636.4	509
Insurance liabilities	9,642.1	9,508.7
Life | Insurance Product Lines
Segment Reporting Information [Line Items]
Present value of future profits	14	16.7
Deferred acquisition costs	615.9	473.3
Insurance liabilities	4,203.8	4,145.9
Investments not allocated to product lines | Insurance Product Lines
Segment Reporting Information [Line Items]
Present value of future profits	0	0
Deferred acquisition costs	6	3.3
Insurance liabilities	$ 1,410.8	$ 502

QUARTERLY FINANCIAL DATA (UNA_3

QUARTERLY FINANCIAL DATA (UNAUDITED) - SCHEDULE OF QUARTERLY FINANCIAL INFORMATION (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Revenues	$ 973.6	$ 905.3	$ 855	$ 842.9	$ 1,074.8	$ 968.3	$ 1,073.1	$ 1,006	$ 3,576.8	$ 4,122.2	$ 3,821.1
Income before income taxes	55.4	137.2	175.4	149.3	148.1	128	101.6	190	517.3	567.7	344.3
Income tax expense	12	32.2	39.3	37	32.3	28.2	23.6	42.6	120.5	126.7	42.5
Net income	$ 43.4	$ 105	$ 136.1	$ 112.3	$ 115.8	$ 99.8	$ 78	$ 147.4	$ 396.8	$ 441	$ 301.8
Basic:
Net income (in USD per share)	$ 0.38	$ 0.92	$ 1.18	$ 0.95	$ 0.95	$ 0.79	$ 0.59	$ 1.10	$ 3.43	$ 3.43	$ 2.12
Diluted:
Net income (in USD per share)	$ 0.37	$ 0.91	$ 1.16	$ 0.93	$ 0.93	$ 0.77	$ 0.58	$ 1.08	$ 3.37	$ 3.36	$ 2.11

INVESTMENTS IN VARIABLE INTER_3

INVESTMENTS IN VARIABLE INTEREST ENTITIES - NARRATIVE (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) investment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 01, 2020 USD ($)
Variable Interest Entity [Line Items]
Repayments of investment borrowings related to variable interest entities, amounts due in 2023	$ 187
Repayments of investment borrowings related to variable interest entities, amounts due in 2024	266.8
Repayments of investment borrowings related to variable interest entities, amounts due in 2025	245.4
Repayments of investment borrowings related to variable interest entities, amounts due in 2026	169.8
Repayments of investment borrowings related to variable interest entities, amounts due in 2027	100.4
Repayments of investment borrowings related to variable interest entities, amounts due in 2028	111.2
Repayments of investment borrowings related to variable interest entities, amounts due in 2029	19.1
Repayments of investment borrowings related to variable interest entities, amounts due in 2030	7
Debt securities, available-for-sale at amortized cost	23,384.2	$ 21,867.6
Variable interest entity amortized cost securities held	1,134.2
Variable interest entity, gross unrealized gains fixed maturity securities	1
Variable interest entity gross unrealized losses fixed maturity securities	52.1
Variable interest entity fixed maturity securities allowance for credit loss	5.5
Variable interest entity, estimated fair value of securities held	1,077.6
Fixed maturities, available for sale	20,353.4	24,805.4		$ 21,293.1
Variable interest entities net realized gain (loss) on investments	(8.1)	3.6	$ (13.8)
Variable interest entities net loss from sale of fixed maturity investments	6.3	7.8	8.6
Variable interest entities change in allowance for current expected credit losses	1.8	(11.4)	5.2
Variable interest entity, gross investment losses from sale	6.3	8.1	8.7
Investments held by VIEs and sold	$ 69.2	70	$ 57.4
Number of VIEs in default | investment	0
Fair value of investments in unrealized loss position for less than 12 months	$ 7,636.9	1,698.6
Gross unrealized losses of investments in unrealized loss position for less than 12 months	835.2	15.1
Fair value of investments in unrealized loss position for more than 12 months	1,897.5	122.2
Gross unrealized losses of investments in unrealized loss position for more than 12 months	471.6	3.4
Fixed Maturities
Variable Interest Entity [Line Items]
Fixed maturities, available for sale	$ 20,353.4	24,805.4
Continuous unrealized loss position	20%
Investments held by variable interest entities - corporate securities
Variable Interest Entity [Line Items]
Fixed maturities, available for sale	$ 1,077.6
Fair value of investments in unrealized loss position for less than 12 months	392.2	417.7
Gross unrealized losses of investments in unrealized loss position for less than 12 months	14.2	2.2
Fair value of investments in unrealized loss position for more than 12 months	477.9	279.7
Gross unrealized losses of investments in unrealized loss position for more than 12 months	17.3	3.1
Below-investment Grade
Variable Interest Entity [Line Items]
Debt securities, available-for-sale at amortized cost	$ 1,410.4
Percentage of available-for-sale debt securities	6%
Fixed maturities, available for sale	$ 1,318.5
Available-for-sale securities, percentage of amortized cost	93%
Continuous unrealized loss position	20%
Gross unrealized losses of investments in unrealized loss position for less than 12 months	$ 21.4
Below-investment Grade | Fixed Maturities
Variable Interest Entity [Line Items]
Fixed maturities, available for sale	1,318.5	$ 1,974.9
Below-investment Grade | Investments held by variable interest entities - corporate securities
Variable Interest Entity [Line Items]
Debt securities, available-for-sale at amortized cost	$ 1,103.5
Percentage of available-for-sale debt securities	97%
Fixed maturities, available for sale	$ 1,047.2
Available-for-sale securities, percentage of amortized cost	95%

INVESTMENTS IN VARIABLE INTER_4

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF IMPACT ON BALANCE SHEET OF CONSOLIDATING VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2020
Assets:
Investments held by variable interest entities	$ 1,077.6	$ 1,199.6	$ 1,178.7
Cash and cash equivalents held by variable interest entities	69.2	99.6
Accrued investment income	235.6	216.4
Income tax assets, net	1,165.5	118.3	437.5
Other assets	580.8	519.1
Total assets	33,339.2	36,204.4	$ 33,613.1
Liabilities:
Other liabilities	693.9	830.9
Borrowings related to variable interest entities	1,104.6	1,147.9
Total liabilities	31,938.4	30,944.7
Investments held by variable interest entities - corporate securities
Assets:
Investments held by variable interest entities	1,077.6	1,199.6
Notes receivable of VIEs held by subsidiaries	(113.8)	(113.8)
Cash and cash equivalents held by variable interest entities	69.2	99.6
Accrued investment income	3.5	1.6
Income tax assets, net	19.6	8.4
Other assets	1.7	6.2
Total assets	1,057.8	1,201.6
Liabilities:
Other liabilities	26.9	85.2
Borrowings related to variable interest entities	1,104.6	1,147.9
Notes payable of VIEs held by subsidiaries	0	0
Total liabilities	1,131.5	1,233.1
Investments held by variable interest entities - corporate securities | VIEs
Assets:
Investments held by variable interest entities	1,077.6	1,199.6
Notes receivable of VIEs held by subsidiaries	0	0
Cash and cash equivalents held by variable interest entities	69.2	99.6
Accrued investment income	3.5	1.6
Income tax assets, net	19.6	8.4
Other assets	2.5	7.1
Total assets	1,172.4	1,316.3
Liabilities:
Other liabilities	29.3	89.5
Borrowings related to variable interest entities	1,104.6	1,147.9
Notes payable of VIEs held by subsidiaries	126.1	126.1
Total liabilities	1,260	1,363.5
Investments held by variable interest entities - corporate securities | Eliminations
Assets:
Investments held by variable interest entities	0	0
Notes receivable of VIEs held by subsidiaries	(113.8)	(113.8)
Cash and cash equivalents held by variable interest entities	0	0
Accrued investment income	0	0
Income tax assets, net	0	0
Other assets	(0.8)	(0.9)
Total assets	(114.6)	(114.7)
Liabilities:
Other liabilities	(2.4)	(4.3)
Borrowings related to variable interest entities	0	0
Notes payable of VIEs held by subsidiaries	(126.1)	(126.1)
Total liabilities	$ (128.5)	$ (130.4)

INVESTMENTS IN VARIABLE INTER_5

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SUPPLEMENTAL INFORMATION, REVENUES AND EXPENSES OF VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Net investment income – policyholder and other special-purpose portfolios									$ (163.1)	$ 280.5	$ 143.5
Fee revenue and other income									196.5	159	123.5
Total revenues	$ 973.6	$ 905.3	$ 855	$ 842.9	$ 1,074.8	$ 968.3	$ 1,073.1	$ 1,006	3,576.8	4,122.2	3,821.1
Expenses:
Interest expense									137	95.4	108.8
Other operating expenses									954.6	987.3	942
Total benefits and expenses									3,059.5	3,554.5	3,476.8
Total investment gains (losses)									(17.9)	21.3	(18.4)
Investments held by variable interest entities - corporate securities
Revenues:
Net investment income – policyholder and other special-purpose portfolios									60.1	45.6	52.7
Total revenues									65.4	50.8	57.8
Expenses:
Interest expense									41	23.2	32.4
Other operating expenses									2	1.2	1.4
Total benefits and expenses									43	24.4	33.8
Income before net investment gains (losses) and income taxes									22.4	26.4	24
Total investment gains (losses)									(8.1)	3.6	(13.8)
Income before income taxes									14.3	30	10.2
Investments held by variable interest entities - corporate securities | Financial Service
Revenues:
Fee revenue and other income									$ 5.3	$ 5.2	$ 5.1

INVESTMENTS IN VARIABLE INTER_6

INVESTMENTS IN VARIABLE INTEREST ENTITIES - ALLOWANCE FOR CREDIT LOSSES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	$ 7.6	$ 2.2	$ 2.1
Additions for securities for which credit losses were not previously recorded	50.4	6.3	25.7
Additions for purchased securities with deteriorated credit	0	0	0
Additions (reductions) for securities where an allowance was previously recorded	10.3	0	(24.1)
Reduction for securities sold during the period	(12.3)	(0.9)	(1.5)
Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded	0	0	0
Write-offs	0	0	0
Recoveries of previously written-off amount	0	0	0
Allowance at the end of the period	56	7.6	2.2
Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	7.4	1.9	2.1
Additions for securities for which credit losses were not previously recorded	48.9	6.1	23.6
Additions for purchased securities with deteriorated credit	0	0	0
Additions (reductions) for securities where an allowance was previously recorded	10.3	0.2	(22.3)
Reduction for securities sold during the period	(12.2)	(0.8)	(1.5)
Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded	0	0	0
Write-offs	0	0	0
Recoveries of previously written-off amount	0	0	0
Allowance at the end of the period	54.4	7.4	1.9
Investments held by variable interest entities - corporate securities | Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	3.7	15.1	9.9
Additions for securities for which credit losses were not previously recorded	7.8	1.3	26.6
Additions for purchased securities with deteriorated credit	0	0	0
Additions (reductions) for securities where an allowance was previously recorded	(3)	(2.9)	(15.7)
Reduction for securities sold during the period	(3)	(9.8)	(5.7)
Reduction for securities for which the Company made the decision to sell where an allowance was previously recorded	0	0	0
Write-offs	0	0	0
Recoveries of previously written-off amount	0	0	0
Allowance at the end of the period	$ 5.5	$ 3.7	$ 15.1

INVESTMENTS IN VARIABLE INTER_7

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF INVESTMENTS CLASSIFIED BY CONTRACTUAL MATURITY DATE (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2020
Amortized cost
Due in one year or less	$ 112
Due after one year through five years	1,913.7
Due after five years through ten years	2,098.9
Total	23,384.2
Estimated fair value
Due in one year or less	110.8
Due after one year through five years	1,790.2
Due after five years through ten years	1,910.4
Total	20,353.4	$ 24,805.4	$ 21,293.1
Investments held by variable interest entities - corporate securities
Amortized cost
Due in one year or less	11.4
Due after one year through five years	732.9
Due after five years through ten years	389.9
Total	1,134.2
Estimated fair value
Due in one year or less	9.4
Due after one year through five years	699
Due after five years through ten years	369.2
Total	$ 1,077.6

INVESTMENTS IN VARIABLE INTER_8

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF INVESTMENTS WITH UNREALIZED LOSSES CLASSIFIED BY CONTRACTUAL MATURITY DATE (Details) $ in Millions	Dec. 31, 2022 USD ($)
Amortized cost
Due after one year through five years	$ 1,741.9
Due after five years through ten years	1,845.3
Total	21,349.7
Estimated fair value
Due after one year through five years	1,615.5
Due after five years through ten years	1,649.8
Total	18,226.8
Investments held by variable interest entities - corporate securities
Amortized cost
Due in one year or less	7.9
Due after one year through five years	676.5
Due after five years through ten years	370.3
Total	1,054.7
Estimated fair value
Due in one year or less	5.9
Due after one year through five years	641.9
Due after five years through ten years	349.3
Total	$ 997.1

INVESTMENTS IN VARIABLE INTER_9

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF INVESTMENTS IN OUR PORTFOLIO WHICH HAVE BEEN CONTINUOUSLY IN AN UNREALIZED LOSS POSITION EXCEEDING 20% OF AMORTIZED COST PRIOR TO SALE (Details) - Investments held by variable interest entities - corporate securities $ in Millions	Dec. 31, 2022 USD ($) issuer
Debt Securities, Available-for-sale [Line Items]
Less than 6 months prior to sale, Number of issuers | issuer	3
Greater than or equal to 6 months and less than 12 months prior to sale, Number of issuers | issuer	2
Less than 6 months prior to sale, Amortized cost	$ 7
Greater than or equal to 6 months and less than 12 months prior to sale, Amortized cost	1.7
Amortized cost, Total	8.7
Less than 6 months prior to sale, Fair value	3.9
Greater than or equal to 6 months and less than 12 months prior to sale, Fair value	0.6
Fair value, Total	$ 4.5

INVESTMENTS IN VARIABLE INTE_10

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF INVESTMENTS IN OUR PORTFOLIO RATED BELOW-INVESTMENT GRADE WHICH HAVE BEEN CONTINUOUSLY IN AN UNREALIZED LOSS POSITION EXCEEDING 20% OF THE COST BASIS (Details) - Below-investment Grade $ in Millions	Dec. 31, 2022 USD ($) issuer
Debt Securities, Available-for-sale [Line Items]
Less than 6 months, Number of issuers | issuer	6
Less than 6 months, Cost basis	$ 47.5
Less than 6 months, Unrealized loss	(11.1)
Less than 6 months, Estimated fair value	$ 36.4
Investments held by variable interest entities - corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than 6 months, Number of issuers | issuer	5
Less than 6 months, Cost basis	$ 13.2
Less than 6 months, Unrealized loss	(3.9)
Less than 6 months, Estimated fair value	$ 9.3

SCHEDULE II - Condensed Finan_2

SCHEDULE II - Condensed Financial Information of Registrant (Parent Company) - Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Assets:
Equity securities at fair value	$ 135.3	$ 131.1
Other assets	580.8	519.1
Total assets	33,339.2	36,204.4		$ 33,613.1
Liabilities:
Notes payable	1,138.8	1,137.3
Other liabilities	693.9	830.9
Total liabilities	31,938.4	30,944.7
Commitments and Contingencies
Shareholders' equity:
Accumulated other comprehensive income (loss)	(2,093.1)	1,947.1
Retained earnings	1,459	1,127.2		517.9
Total shareholders' equity	1,400.8	5,259.7	$ 5,484.2	$ 4,659.2	$ 4,677
Total liabilities and shareholders' equity	33,339.2	36,204.4
Parent Company
Assets:
Cash and cash equivalents - unrestricted	136.7	196.2
Equity securities at fair value	36.6	49.9
Investment in wholly-owned subsidiaries (eliminated in consolidation)	2,292.4	6,054.3
Income tax assets, net	154.9	164.5
Receivable from subsidiaries (eliminated in consolidation)	114.9	156.9
Other assets	2.2	1.2
Total assets	2,737.7	6,623
Liabilities:
Notes payable	1,138.8	1,137.3
Payable to subsidiaries (eliminated in consolidation)	172	146.9
Other liabilities	26.1	79.1
Total liabilities	1,336.9	1,363.3
Commitments and Contingencies
Shareholders' equity:
Common stock and additional paid-in capital ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: 2022 - 114,343,070; 2021 - 120,377,152)	2,034.9	2,185.4
Accumulated other comprehensive income (loss)	(2,093.1)	1,947.1
Retained earnings	1,459	1,127.2
Total shareholders' equity	1,400.8	5,259.7
Total liabilities and shareholders' equity	$ 2,737.7	$ 6,623

SCHEDULE II - Condensed Finan_3

SCHEDULE II - Condensed Financial Information of Registrant (Parent Company) - Balance Sheet (Parenthetical) (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	8,000,000,000	8,000,000,000
Common stock, shares issued (in shares)	114,343,070	120,377,152
Common stock, shares outstanding (in shares)	114,343,070	120,377,152
Parent Company
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	8,000,000,000	8,000,000,000
Common stock, shares issued (in shares)	114,343,070	120,377,152
Common stock, shares outstanding (in shares)	114,343,070	120,377,152

SCHEDULE II - Condensed Finan_4

SCHEDULE II - Condensed Financial Information of Registrant (Parent Company) - Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Net investment income									$ 1,015.9	$ 1,420.7	$ 1,222.5
Total investment gains (losses)									(17.9)	21.3	(18.4)
Total revenues	$ 973.6	$ 905.3	$ 855	$ 842.9	$ 1,074.8	$ 968.3	$ 1,073.1	$ 1,006	3,576.8	4,122.2	3,821.1
Expenses:
Interest expense									137	95.4	108.8
Income tax benefit	12	32.2	39.3	37	32.3	28.2	23.6	42.6	120.5	126.7	42.5
Net income	$ 43.4	$ 105	$ 136.1	$ 112.3	$ 115.8	$ 99.8	$ 78	$ 147.4	396.8	441	301.8
Parent Company
Revenues:
Net investment income									9.8	7.4	28.7
Net investment income - affiliated									3	0.3	0.8
Total investment gains (losses)									(0.6)	(0.2)	0.2
Total revenues									12.2	7.5	29.7
Expenses:
Interest expense									62.5	62.4	55.2
Intercompany expenses (eliminated in consolidation)									3.8	0.5	1.1
Operating costs and expenses									0.2	38.5	65.9
Total expenses									66.5	101.4	122.2
Income before income taxes									(54.3)	(93.9)	(92.5)
Income tax benefit									(18.3)	(26)	(28.2)
Loss before equity in undistributed earnings of subsidiaries									(36)	(67.9)	(64.3)
Equity in undistributed earnings of subsidiaries (eliminated in consolidation)									432.8	508.9	366.1
Net income									$ 396.8	$ 441	$ 301.8

SCHEDULE II - Condensed Finan_5

SCHEDULE II - Condensed Financial Information of Registrant (Parent Company) - Statement of Cash Flows (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Cash flows from operating activities		$ 495.4	$ 598.3	$ 735.5
Cash flows from investing activities:
Sales of investments		3,253.6	1,823.6	1,480
Purchases of investments		(6,482)	(6,135.2)	(4,280.7)
Net cash provided by investing activities		(1,781.3)	(1,526.1)	(608.4)
Cash flows from financing activities:
Issuance of notes payable, net		0	0	145.8
Issuance of common stock		10.4	18.4	16.5
Payments to repurchase common stock		(190.1)	(407.8)	(268.3)
Debt issuance costs		0	(1)	0
Net cash used by financing activities		1,199.1	667.6	210.1
Net increase (decrease) in cash and cash equivalents		(86.8)	(260.2)	337.2
Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of year		731.7	991.9	654.7
Cash and cash equivalents - unrestricted and held by variable interest entities, end of year		644.9	731.7	991.9
Parent Company
Condensed Financial Statements, Captions [Line Items]
Cash flows from operating activities		(143.2)	(153.2)	(136.3)
Cash flows from investing activities:
Sales of investments		24.6	0	18.4
Purchases of investments		(11.8)	(50)	(18.2)
Net sales of trading securities		7.7	8.4	26.8
Dividends received from consolidated subsidiary	[1]	69.6	328.3	324.7
Net cash provided by investing activities		90.1	286.7	351.7
Cash flows from financing activities:
Issuance of notes payable, net		0	0	145.8
Issuance of common stock		13.5	21.5	19
Payments to repurchase common stock		(190.1)	(407.8)	(268.3)
Common stock dividends paid		(64.8)	(65.7)	(67)
Issuance of notes payable to affiliates	[1]	349.5	249.7	308.1
Payments on notes payable to affiliates	[1]	(114.5)	(125.3)	(143.6)
Debt issuance costs		0	(1)	0
Net cash used by financing activities		(6.4)	(328.6)	(6)
Net increase (decrease) in cash and cash equivalents		(59.5)	(195.1)	209.4
Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of year		196.2	391.3	181.9
Cash and cash equivalents - unrestricted and held by variable interest entities, end of year		$ 136.7	$ 196.2	$ 391.3
[1]Eliminated in consolidation

SCHEDULE IV - REINSURANCE (Deta

SCHEDULE IV - REINSURANCE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Assumed	$ 18.6	$ 20.7	$ 23
Reinsurance ceded	(214.6)	(231.3)	(247.8)
Premiums on traditional products with mortality or morbidity risk	2,309.9	2,342.8	2,340.3
Life insurance inforce:
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct	30,444.8	29,954	29,109.8
Assumed	86.5	93.8	99.5
Ceded	(2,820)	(2,930.8)	(3,042.4)
Net insurance inforce	$ 27,711.3	$ 27,117	$ 26,166.9
Percentage of assumed to net	0.30%	0.30%	0.40%
Insurance policy income:
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct	$ 2,483.1	$ 2,530.5	$ 2,542.4
Assumed	18.7	20.3	23
Reinsurance ceded	(191.9)	(208)	(225.1)
Premiums on traditional products with mortality or morbidity risk	$ 2,309.9	$ 2,342.8	$ 2,340.3
Percentage of assumed to net	0.80%	0.90%	1%

Uncategorized Items - cno-20221

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]