CNO Financial (CNO) 10-Q 6 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 23, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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	11299 Illinois 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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		108,259,664
Entity Central Index Key	0001224608
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock, par value $0.01 per share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CNO
Security Exchange Name	NYSE
Rights To Purchase Series F Junior Participating Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Rights to purchase Series F Junior Participating Preferred Stock
Security Exchange Name	NYSE
No Trading Symbol Flag	true
5.125% Subordinated Debentures due 2060
Document Information [Line Items]
Title of 12(b) Security	5.125% Subordinated Debentures due 2060
Trading Symbol	CNOpA
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investments:
Fixed maturities, available for sale, at fair value (net of allowance for credit losses: March 31, 2024 - $39.0 and December 31, 2023 - $42.9; amortized cost: March 31, 2024 - $23,950.8 and December 31, 2023 - $23,699.2)	$ 21,648.1	$ 21,506.2
Equity securities at fair value	118.4	96.9
Mortgage loans (net of allowance for credit losses: March 31, 2024 - $16.6 and December 31, 2023 - $15.4)	2,087.1	2,064.1
Policy loans	130.3	128.5
Trading securities	222.8	222.7
Investments held by variable interest entities (net of allowance for credit losses: March 31, 2024 - $4.3 and December 31, 2023 - $3.1; amortized cost: March 31, 2024 - $547.2 and December 31, 2023 - $787.6)	533.4	768.6
Other invested assets	1,471.3	1,353.4
Total investments	26,211.4	26,140.4
Cash and cash equivalents - unrestricted	566.3	774.5
Cash and cash equivalents held by variable interest entities	83.5	114.5
Accrued investment income	252	251.5
Present value of future profits	175.5	180.7
Deferred acquisition costs	1,992.3	1,944.4
Reinsurance receivables (net of allowance for credit losses: March 31, 2024 - $3.0 and December 31, 2023 - $3.0)	3,969	4,040.7
Market risk benefit asset	84.1	75.4
Income tax assets, net	886.1	936.2
Assets held in separate accounts	3.3	3.1
Other assets	716.2	641.1
Total assets	34,939.7	35,102.5
Liabilities for insurance products:
Policyholder account balances	15,736.7	15,667.8
Future policy benefits	11,736.5	11,928.2
Market risk benefit liability	3.8	7.4
Liability for life insurance policy claims	65.1	62.1
Unearned and advanced premiums	226	218.9
Liabilities related to separate accounts	3.3	3.1
Other liabilities	905	848.8
Investment borrowings	2,189.1	2,189.3
Borrowings related to variable interest entities	565.5	820.8
Notes payable – direct corporate obligations	1,141	1,140.5
Total liabilities	32,572	32,886.9
Commitments and Contingencies
Shareholders' equity:
Common stock ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: March 31, 2024 – 108,568,594; December 31, 2023 – 109,357,540)	1.1	1.1
Additional paid-in capital	1,851.2	1,891.5
Accumulated other comprehensive loss	(1,480.3)	(1,576.8)
Retained earnings	1,995.7	1,899.8
Total shareholders' equity	2,367.7	2,215.6
Total liabilities and shareholders' equity	$ 34,939.7	$ 35,102.5

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investments:
Fixed maturities, available for sale, allowance for credit losses	$ 39	$ 42.9
Fixed maturities, available for sale, amortized cost	23,950.8	23,699.2
Mortgage loans, allowance for credit losses	16.6	15.4
Investments held by variable interest entities, allowance for credit losses	4.3	3.1
Investments held by variable interest entities, amortized cost	547.2	787.6
Reinsurance receivables, allowance for current expected credit losses	$ 3	$ 3
Shareholders' equity:
Common stock, par value (in dollars 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)	108,568,594	109,357,540
Common stock, shares outstanding (in shares)	108,568,594	109,357,540

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Insurance policy income	$ 628.4	$ 625.5
Net investment income:
General account assets	301.9	292.2
Policyholder and other special-purpose portfolios	167.3	50.8
Investment gains (losses):
Realized investment losses	(10)	(14.6)
Other investment gains	17.8	0
Total investment gains (losses)	7.8	(14.6)
Fee revenue and other income	51.1	52.1
Total revenues	1,156.5	1,006
Benefits and expenses:
Insurance policy benefits	631.4	609.7
Liability for future policy benefits remeasurement (gain) loss	(6.4)	0.6
Change in fair value of market risk benefits	(13.7)	14.8
Interest expense	60.2	54.7
Amortization of deferred acquisition costs and present value of future profits	60.5	55.5
Other operating costs and expenses	278.3	271.7
Total benefits and expenses	1,010.3	1,007
Income (loss) before income taxes	146.2	(1)
Income tax expense (benefit) on period income (loss)	33.9	(0.2)
Net income (loss)	$ 112.3	$ (0.8)
Basic:
Weighted average shares outstanding (in shares)	108,964	114,545
Net income (loss) (in dollars per share)	$ 1.03	$ (0.01)
Diluted:
Weighted average shares outstanding (in shares)	110,845	114,545
Net income (loss) (in dollars per share)	$ 1.01	$ (0.01)

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 112.3	$ (0.8)
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on investments	(114.6)	626.1
Adjustment to discount rate for liability for future policy benefits	231.7	(263.3)
Adjustment to instrument-specific credit risk for market risk benefits	(1.4)	0.9
Reclassification adjustments:
For net realized investment losses included in net income (loss)	7.3	10.9
Other comprehensive income before tax	123	374.6
Income tax expense related to items of accumulated other comprehensive income	(26.5)	(81.7)
Other comprehensive income, net of tax	96.5	292.9
Comprehensive income	$ 208.8	$ 292.1

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Retained earnings
Balance, beginning of period (in shares) at Dec. 31, 2022		114,343,000
Balance, beginning of period at Dec. 31, 2022	$ 1,768.8	$ 1.1	$ 2,033.8	$ (1,957.3)	$ 1,691.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(0.8)				(0.8)
Other comprehensive income, net of tax	292.9			292.9
Common stock repurchased (in shares)		(633,000)
Common stock repurchased	(15.1)		(15.1)
Dividends on common stock	(16.4)				(16.4)
Employee benefit plans, net of shares used to pay tax withholdings (in shares)		1,195,000
Employee benefit plans, net of shares used to pay tax withholdings	2.4		2.4
Balance, end of period (in shares) at Mar. 31, 2023		114,905,000
Balance, end of period at Mar. 31, 2023	$ 2,031.8	$ 1.1	2,021.1	(1,664.4)	1,674
Balance, beginning of period (in shares) at Dec. 31, 2023	109,357,540	109,358,000
Balance, beginning of period at Dec. 31, 2023	$ 2,215.6	$ 1.1	1,891.5	(1,576.8)	1,899.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	112.3				112.3
Other comprehensive income, net of tax	96.5			96.5
Common stock repurchased (in shares)		(1,483,000)
Common stock repurchased	(40)		(40)
Dividends on common stock	(16.4)				(16.4)
Employee benefit plans, net of shares used to pay tax withholdings (in shares)		694,000
Employee benefit plans, net of shares used to pay tax withholdings	$ (0.3)		(0.3)
Balance, end of period (in shares) at Mar. 31, 2024	108,568,594	108,569,000
Balance, end of period at Mar. 31, 2024	$ 2,367.7	$ 1.1	$ 1,851.2	$ (1,480.3)	$ 1,995.7

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Insurance policy income	$ 582.1	$ 582.2
Net investment income	334.4	315
Fee revenue and other income	53.6	50.4
Insurance policy benefits	(408)	(410.9)
Interest expense	(50.4)	(38.6)
Deferrable policy acquisition costs	(103.2)	(89.8)
Other operating costs	(303.8)	(320.2)
Income taxes	(10.1)	(6.2)
Net cash from operating activities	94.6	81.9
Cash flows from investing activities:
Sales of investments	671	486.5
Maturities and redemptions of investments	368.3	276.8
Purchases of investments	(1,064.7)	(1,147.7)
Net sales (purchases) of trading securities	4.3	(8.4)
Other	(2.5)	(13.9)
Net cash used by investing activities	(23.6)	(406.7)
Cash flows from financing activities:
Issuance of common stock	2.8	8.1
Payments to repurchase common stock	(58.8)	(25.8)
Common stock dividends paid	(17.3)	(17.1)
Payments on financing arrangements	(3.5)	0
Amounts received for deposit products	523.9	498.3
Withdrawals from deposit products	(505.5)	(422.1)
Issuance of investment borrowings:
Federal Home Loan Bank	222	620.5
Payments on investment borrowings:
Federal Home Loan Bank	(222.1)	(420.4)
Related to variable interest entities	(251.7)	(39.5)
Net cash provided (used) by financing activities	(310.2)	202
Net decrease in cash and cash equivalents	(239.2)	(122.8)
Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of period	889	644.9
Cash and cash equivalents - unrestricted and held by variable interest entities, end of period	$ 649.8	$ 522.1

BUSINESS AND BASIS OF PRESENTAT

BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2024
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 that develop, market and administer health insurance, annuity, individual life insurance and other insurance 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. Our unaudited consolidated financial statements reflect normal recurring adjustments that, in the opinion of management, are necessary for a fair statement of our financial position, results of operations and cash flows for the periods presented. As permitted by rules and regulations of the Securities and Exchange Commission (the "SEC") applicable to quarterly reports on Form 10-Q, we have condensed or omitted certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Results for interim periods are not necessarily indicative of the results that may be expected for a full year. The December 31, 2023 consolidated balance sheet data was derived from the audited consolidated financial statements included in our 2023 Annual Report on Form 10-K. Accordingly, these interim consolidated financial statements should be read together with the consolidated financial statements included in our 2023 Annual Report on Form 10-K. 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 are unaudited and 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.

RECENTLY ISSUED ACCOUNTING STAN

RECENTLY ISSUED ACCOUNTING STANDARDS	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"). ASU 2023-07 is intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. Such requirements include: (i) disclosures on significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss on an annual and interim basis; (ii) disclosures of an amount for other segment items by reportable segment and a description of its composition on an annual and interim basis (the other segment items category is the difference between segment revenues less the segment expenses disclosed pursuant to the new guidance); (iii) providing all annual disclosures on a reportable segment’s profit or loss and assets currently required by FASB ASC Topic 280, Segment Reporting in interim periods; and (iv) specifying the title and position of the CODM and an explanation of how the CODM uses the reported measures to assess segment performance and make decisions about allocating resources. ASU 2023-07 is effective for annual periods beginning January 1, 2024 and interim periods beginning January 1, 2025, to be applied on a retrospective basis (with early adoption permitted). The adoption of ASU 2023-07 will expand our disclosures but will not have an impact on our financial position or results of operations. In December 2023, the FASB issued Accounting Standards Update 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 is intended to improve the effectiveness of income tax disclosures by requiring, among other things, the disclosure on an annual basis of: (i) specific categories in the rate reconciliation; and (ii) additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires disclosure (on an annual basis) of the following information about income taxes paid: (i) the amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes; and (ii) the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). ASU 2023-09 is effective for annual periods beginning January 1, 2025, to be applied prospectively with an option for retrospective application (with early adoption permitted). The adoption of ASU 2023-09 will modify our disclosures but will not have an impact on our financial position or results of operations.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS We classify our fixed maturity securities into one of two categories: (i) "available for sale" (which we carry at estimated fair value with any unrealized gain or loss, net of tax and related adjustments, recorded as a component of shareholders' equity); or (ii) "trading" (which we carry at estimated fair value with changes in such value recognized as either net investment income (classified as investment income from policyholder and other special-purpose portfolios) or investment gains (losses)). 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). We review our available for sale fixed maturity securities with unrealized losses to determine whether such impairments are the result of credit losses. We analyze various factors to make such determinations including, but not limited to: (i) actions taken by rating agencies; (ii) default by the issuer; (iii) the significance of the decline; (iv) an assessment of our intent to sell the security before recovering the security's amortized cost; (v) an economic analysis of the issuer's industry; and (vi) the financial strength, liquidity, and recoverability of the issuer. We perform a security by security review each quarter to evaluate whether a credit loss has occurred. 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 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 (loss) along with unrealized gains (losses) 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. 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. At March 31, 2024, 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 cost Gross unrealized gains Gross unrealized losses Allowance for credit losses Estimated fair value Corporate securities $ 13,132.7 $ 50.5 $ (1,506.6) $ (37.7) $ 11,638.9 United States Treasury securities and obligations of United States government corporations and agencies 232.8 — (18.4) — 214.4 States and political subdivisions 3,054.5 26.4 (376.9) (.6) 2,703.4 Foreign governments 94.8 .6 (12.5) (.6) 82.3 Asset-backed securities 1,546.1 3.3 (95.4) (.1) 1,453.9 Agency residential mortgage-backed securities 683.3 6.7 (2.3) — 687.7 Non-agency residential mortgage-backed securities 1,670.4 33.6 (144.2) — 1,559.8 Collateralized loan obligations 1,151.0 4.6 (10.0) — 1,145.6 Commercial mortgage-backed securities 2,385.2 1.8 (224.9) — 2,162.1 Total fixed maturities, available for sale $ 23,950.8 $ 127.5 $ (2,391.2) $ (39.0) $ 21,648.1 At December 31, 2023, 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 cost Gross unrealized gains Gross unrealized losses Allowance for credit losses Estimated fair value Corporate securities $ 13,186.9 $ 74.7 $ (1,382.4) $ (41.7) $ 11,837.5 United States Treasury securities and obligations of United States government corporations and agencies 207.6 .1 (13.3) — 194.4 States and political subdivisions 2,896.8 31.3 (360.7) (.7) 2,566.7 Foreign governments 92.7 1.2 (10.4) (.4) 83.1 Asset-backed securities 1,476.2 4.1 (107.8) (.1) 1,372.4 Agency residential mortgage-backed securities 639.0 9.5 (.5) — 648.0 Non-agency residential mortgage-backed securities 1,670.1 35.8 (152.7) — 1,553.2 Collateralized loan obligations 1,042.5 3.3 (13.0) — 1,032.8 Commercial mortgage-backed securities 2,487.4 .7 (270.0) — 2,218.1 Total fixed maturities, available for sale $ 23,699.2 $ 160.7 $ (2,310.8) $ (42.9) $ 21,506.2 The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale, at March 31, 2024, 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 $ 324.8 $ 314.6 Due after one year through five years 2,278.8 2,175.7 Due after five years through ten years 1,529.8 1,450.2 Due after ten years 12,381.4 10,698.5 Subtotal 16,514.8 14,639.0 Structured securities 7,436.0 7,009.1 Total fixed maturities, available for sale $ 23,950.8 $ 21,648.1 Gross Unrealized Investment Losses Our investment strategy is to maximize, over a sustained period and within acceptable parameters of quality and risk, investment income and total investment return through active strategic asset allocation and investment management. Accordingly, we may sell securities at a gain or a loss to enhance the projected total return of the portfolio as market opportunities change, to reflect changing perceptions of risk, or to better match certain characteristics of our investment portfolio with the corresponding characteristics of our insurance liabilities. 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 March 31, 2024 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair Unrealized Fair Unrealized Fair Unrealized Corporate securities $ 508.6 $ (7.4) $ 5,339.7 $ (719.3) $ 5,848.3 $ (726.7) United States Treasury securities and obligations of United States government corporations and agencies 72.9 (3.3) 119.0 (15.1) 191.9 (18.4) States and political subdivisions 272.4 (4.0) 959.2 (166.4) 1,231.6 (170.4) Foreign governments 12.0 (.5) 18.2 (1.1) 30.2 (1.6) Asset-backed securities 110.5 (.8) 1,064.1 (93.7) 1,174.6 (94.5) Agency residential mortgage-backed securities 249.8 (1.9) 11.5 (.4) 261.3 (2.3) Non-agency residential mortgage-backed securities 117.7 (.9) 1,064.4 (143.3) 1,182.1 (144.2) Collateralized loan obligations 233.1 (1.9) 334.2 (8.1) 567.3 (10.0) Commercial mortgage-backed securities 96.3 (.6) 1,851.1 (224.3) 1,947.4 (224.9) Total fixed maturities, available for sale $ 1,673.3 $ (21.3) $ 10,761.4 $ (1,371.7) $ 12,434.7 $ (1,393.0) 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, 2023 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair Unrealized Fair Unrealized Fair Unrealized Corporate securities $ 332.0 $ (5.3) $ 5,199.0 $ (640.6) $ 5,531.0 $ (645.9) United States Treasury securities and obligations of United States government corporations and agencies 126.7 (10.2) 34.5 (3.1) 161.2 (13.3) States and political subdivisions 236.9 (3.8) 990.0 (181.2) 1,226.9 (185.0) Foreign governments 6.2 — 21.1 (2.3) 27.3 (2.3) Asset-backed securities 46.9 (.8) 1,066.8 (106.0) 1,113.7 (106.8) Agency residential mortgage-backed securities 73.4 (.4) 7.1 (.1) 80.5 (.5) Non-agency residential mortgage-backed securities 69.0 (1.3) 1,062.9 (151.4) 1,131.9 (152.7) Collateralized loan obligations 75.0 (.3) 590.9 (12.7) 665.9 (13.0) Commercial mortgage-backed securities 203.8 (2.4) 1,914.1 (267.6) 2,117.9 (270.0) Total fixed maturities, available for sale $ 1,169.9 $ (24.5) $ 10,886.4 $ (1,365.0) $ 12,056.3 $ (1,389.5) Based on management's current assessment of investments with unrealized losses at March 31, 2024, 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 months ended March 31, 2024 (dollars in millions): Corporate securities States and political subdivisions Foreign governments Asset-backed securities Total Allowance at December 31, 2023 $ 41.7 $ .7 $ .4 $ .1 $ 42.9 Additions for securities for which credit losses were not previously recorded 2.2 (.1) .1 — 2.2 Additions (reductions) for securities where an allowance was previously recorded (6.1) — .1 — (6.0) Reduction for securities sold during the period (.1) — — — (.1) Allowance at March 31, 2024 $ 37.7 $ .6 $ .6 $ .1 $ 39.0 The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the three months ended March 31, 2023 (dollars in millions): Corporate securities States and political subdivisions Foreign governments Asset-backed securities Total Allowance at December 31, 2022 $ 54.4 $ .9 $ .4 $ .3 $ 56.0 Additions for securities for which credit losses were not previously recorded 3.0 — — — 3.0 Additions (reductions) for securities where an allowance was previously recorded .5 (.1) .1 .3 .8 Reduction for securities sold during the period (.7) — — — (.7) Allowance at March 31, 2023 $ 57.2 $ .8 $ .5 $ .6 $ 59.1 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. The mortgage loan balance was comprised of commercial and residential mortgage loans. At March 31, 2024, we held commercial mortgage loan investments with an amortized cost and fair value of $1,461.7 million and $1,290.5 million, respectively. At March 31, 2024, there was one commercial mortgage loan with an amortized cost of $17.3 million that was noncurrent. There were no commercial mortgage loans in foreclosure. At March 31, 2024, we held residential mortgage loan investments with an amortized cost and fair value of $642.0 million and $640.3 million, respectively. At March 31, 2024, there were seventeen residential mortgage loans that were noncurrent with an amortized cost of $9.4 million (of which, eleven loans with an amortized cost of $4.2 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 March 31, 2024 (dollars in millions): Estimated fair Loan-to-value ratio (a) 2024 2023 2022 2021 2020 Prior Total amortized cost Mortgage loans Collateral Less than 60% $ 12.8 $ 160.7 $ 160.8 $ 96.2 $ 33.2 $ 525.5 $ 989.2 $ 877.8 $ 3,675.3 60% to less than 70% — 126.9 47.4 29.2 5.5 18.6 227.6 208.3 348.7 70% to less than 80% — 19.3 54.7 24.9 — 49.7 148.6 127.2 201.0 80% to less than 90% — — 47.8 — — 48.5 96.3 77.2 113.8 Total $ 12.8 $ 306.9 $ 310.7 $ 150.3 $ 38.7 $ 642.3 $ 1,461.7 $ 1,290.5 $ 4,338.8 ________________ (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. The following table summarizes changes in the allowance for credit losses related to mortgage loans for the three months ended March 31, 2024 and 2023 (dollars in millions): Three months ended March 31, 2024 2023 Allowance at the beginning of the period $ 15.4 $ 8.0 Current period provision for expected credit losses 1.2 .4 Allowance at the end of the period $ 16.6 $ 8.4 Total Investment Gains (Losses) The following table sets forth the total investment gains (losses) for the periods indicated (dollars in millions): Three months ended March 31, 2024 2023 Realized investment gains (losses): Gross realized gains on sales of fixed maturities, available for sale $ 2.1 $ 7.3 Gross realized losses on sales of fixed maturities, available for sale (5.9) (14.4) Equity securities, net — (.2) Other, net (6.2) (7.3) Total realized investment losses (10.0) (14.6) Change in allowance for credit losses (a) 1.5 (1.5) Change in fair value of equity securities (b) .9 .4 Other changes in fair value (c) 11.6 1.1 Gain on liquidation of variable interest entity 3.8 — Other investment gains 17.8 — Total investment gains (losses) $ 7.8 $ (14.6) _________________ (a) Changes in the allowance for credit losses includes $(1.2) million and $2.0 million in the three months ended March 31, 2024 and 2023, respectively, related to investments held by variable interest entities ("VIEs"). (b) Changes in the estimated fair value of equity securities (that are still held as of the end of the respective periods) were $1.0 million and $0.3 million for the three months ended March 31, 2024 and 2023, 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 periods) were $4.8 million and $(2.5) million in the three months ended March 31, 2024 and 2023, respectively. During the first three months of 2024, we recognized net investment gains of $7.8 million, which were comprised of: (i) $10.0 million of net losses from the sales of investments; (ii) $0.9 million of gains related to equity securities, including the change in fair value; (iii) $11.3 million of gains related to certain other invested assets and fixed maturity investments with embedded derivatives, including the change in fair value; (iv) the increase in fair value of embedded derivatives related to a modified coinsurance agreement of $0.3 million; (v) $3.8 million of gains related to the liquidation of a VIE; and (vi) a decrease in the allowance for credit losses of $1.5 million. During the first three months of 2023, we recognized net investment losses of $14.6 million, which were comprised of: (i) $14.4 million of net losses from the sales of investments; (ii) $0.2 million of gains 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 $0.3 million; (iv) the increase in fair value of embedded derivatives related to a modified coinsurance agreement of $1.4 million; and (v) an increase in the allowance for credit losses of $1.5 million. 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. At March 31, 2024, there were no fixed maturity investments in default. During the first three months of 2024, the $5.9 million of gross realized losses on sales of $197.1 million of fixed maturity securities, available for sale, included: (i) $3.5 million related to various corporate securities; (ii) $1.1 million related to commercial mortgage-backed securities; and (iii) $1.3 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; (v) better match certain characteristics of our investment portfolio with the corresponding characteristics of our insurance liabilities; or (vi) changes in expected portfolio cash flows. During the first three months of 2023, the $14.4 million of gross realized losses on sales of $288.5 million of fixed maturity securities, available for sale, included: (i) $11.1 million related to various corporate securities; (ii) $2.2 million related to commercial mortgage-backed securities; and (iii) $1.1 million related to various other investments. 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.

LIABILITIES FOR INSURANCE PRODU

LIABILITIES FOR INSURANCE PRODUCTS	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
LIABILITIES FOR INSURANCE PRODUCTS	LIABILITIES FOR INSURANCE PRODUCTS The liability for future policy benefits is determined based on numerous assumptions. The most significant assumptions for our life and annuity business are mortality and lapse/withdrawal rates which are based on our experience and, in cases of limited experience, industry experience. Mortality and lapse/withdrawal rates also take into consideration future expectations in policyholder behavior that may vary from past experience. For our health business, mortality rates, lapse rates, morbidity assumptions and future rate increases are based on our experience and, in cases of limited experience, industry experience. Such assumptions also consider future expectations in policyholder behavior that may vary from past experience. In the first three months of 2024, we reviewed the actual mortality, lapse, and morbidity experience and determined that no changes to assumptions for future cash flows were necessary. This is consistent with the impact in the "Effect of actual variances from expected experience" line items in the tables below, which indicate our actual experience did not deviate significantly from our expectations. The following tables summarize balances and changes in the liability for future policy benefits for traditional and limited-payment contracts for the three months ended March 31, 2024 (dollars in millions): Three months ended March 31, 2024 Supplemental health Medicare supplement Long-term care Traditional life Other annuities Present value of expected net premiums ("PVENP"), beginning of period $ 2,718.2 $ 3,009.2 $ 1,055.6 $ 2,279.6 $ — Effect of changes in discount rate assumptions, beginning of period 86.8 99.1 (7.6) 67.6 — Beginning PVENP at original discount rate 2,805.0 3,108.3 1,048.0 2,347.2 — Effect of changes in cash flow assumptions — — — — — Effect of actual variances from expected experience (15.2) (39.0) (7.9) (21.2) — Adjusted beginning of period PVENP 2,789.8 3,069.3 1,040.1 2,326.0 — Issuances 66.0 134.2 46.9 108.2 .9 Interest accrual 30.7 32.2 12.9 24.3 — Net premiums collected (86.9) (114.4) (39.5) (99.9) (.9) Ending PVENP at original discount rate 2,799.6 3,121.3 1,060.4 2,358.6 — Effect of changes in discount rate assumptions, end of period (139.1) (145.5) (11.5) (102.0) — PVENP, end of period $ 2,660.5 $ 2,975.8 $ 1,048.9 $ 2,256.6 $ — Present value of expected future policy benefits ("PVEFPB"), beginning of period $ 6,023.3 $ 3,236.6 $ 4,364.6 $ 4,694.7 $ 308.9 Effect of changes in discount rate assumptions, beginning of period 229.8 108.3 (132.8) 170.9 3.0 Beginning PVEFPB at original discount rate 6,253.1 3,344.9 4,231.8 4,865.6 311.9 Effect of changes in cash flow assumptions — — — — — Effect of actual variances from expected experience (17.7) (39.1) (12.1) (22.0) .8 Adjusted beginning of period PVEFPB 6,235.4 3,305.8 4,219.7 4,843.6 312.7 Issuances 66.0 134.2 47.0 108.2 .9 Interest accrual 72.6 34.9 56.7 52.8 3.6 Benefit payments (105.6) (117.8) (74.2) (120.7) (8.2) Ending PVEFPB at original discount rate 6,268.4 3,357.1 4,249.2 4,883.9 309.0 Effect of changes in discount rate assumptions, end of period (371.4) (158.4) 25.5 (263.8) (10.1) PVEFPB, end of period $ 5,897.0 $ 3,198.7 $ 4,274.7 $ 4,620.1 $ 298.9 Net liability for future policy benefits $ 3,236.5 $ 222.9 $ 3,225.8 $ 2,363.5 $ 298.9 Flooring impact — .8 — — — Adjusted net liability for future policy benefits 3,236.5 223.7 3,225.8 2,363.5 298.9 Related reinsurance recoverable (1.5) — (360.8) (187.3) — Net liability for future policy benefits, net of reinsurance recoverable $ 3,235.0 $ 223.7 $ 2,865.0 $ 2,176.2 $ 298.9 The following tables summarize balances and changes in the liability for future policy benefits for traditional and limited-payment contracts for the three months ended March 31, 2023 (dollars in millions): Three months ended March 31, 2023 Supplemental health Medicare supplement Long-term care Traditional life Other annuities PVENP, beginning of period $ 2,781.3 $ 2,800.6 $ 1,034.1 $ 2,175.0 $ — Effect of changes in discount rate assumptions, beginning of period 188.4 196.4 23.2 137.1 — Beginning PVENP at original discount rate 2,969.7 2,997.0 1,057.3 2,312.1 — Effect of changes in cash flow assumptions — — — — — Effect of actual variances from expected experience (17.2) 27.0 (3.4) (14.1) — Adjusted beginning of period PVENP 2,952.5 3,024.0 1,053.9 2,298.0 — Issuances 63.7 101.6 15.7 108.3 1.1 Interest accrual 32.0 30.5 12.3 23.0 — Net premiums collected (90.3) (113.4) (40.6) (101.4) (1.1) Ending PVENP at original discount rate 2,957.9 3,042.7 1,041.3 2,327.9 — Effect of changes in discount rate assumptions, end of period (120.4) (139.2) (4.6) (92.5) — PVENP, end of period $ 2,837.5 $ 2,903.5 $ 1,036.7 $ 2,235.4 $ — PVEFPB, beginning of period $ 5,886.8 $ 3,033.1 $ 4,158.1 $ 4,417.9 $ 310.9 Effect of changes in discount rate assumptions, beginning of period 483.3 212.0 28.5 336.6 15.4 Beginning PVEFPB at original discount rate 6,370.1 3,245.1 4,186.6 4,754.5 326.3 Effect of changes in cash flow assumptions — — — — — Effect of actual variances from expected experience (20.5) 32.2 (6.3) (15.2) .7 Adjusted beginning of period PVEFPB 6,349.6 3,277.3 4,180.3 4,739.3 327.0 Issuances 63.7 101.6 15.7 108.3 1.1 Interest accrual 73.8 33.2 55.5 51.0 3.7 Benefit payments (99.5) (125.6) (71.3) (115.0) (8.6) Ending PVEFPB at original discount rate 6,387.6 3,286.5 4,180.2 4,783.6 323.2 Effect of changes in discount rate assumptions, end of period (306.8) (150.0) 86.4 (223.0) (6.9) PVEFPB, end of period $ 6,080.8 $ 3,136.5 $ 4,266.6 $ 4,560.6 $ 316.3 Net liability for future policy benefits $ 3,243.3 $ 233.0 $ 3,229.9 $ 2,325.2 $ 316.3 Flooring impact — .4 — — — Adjusted net liability for future policy benefits 3,243.3 233.4 3,229.9 2,325.2 316.3 Related reinsurance recoverable (2.4) — (357.5) (201.1) — Net liability for future policy benefits, net of reinsurance recoverable $ 3,240.9 $ 233.4 $ 2,872.4 $ 2,124.1 $ 316.3 The following table reconciles the net liability for future policy benefits to the amount presented in the consolidated balance sheet (dollars in millions): March 31, 2024 March 31, 2023 Balances included in the future policy benefits rollforwards: Supplemental health $ 3,236.5 $ 3,243.3 Medicare supplement 223.7 233.4 Long-term care 3,225.8 3,229.9 Traditional life 2,363.5 2,325.2 Other annuities 298.9 316.3 Reserves excluded from rollforward (a) 2,488.1 2,593.3 Deferred profit liability 64.7 57.7 Amount of reserves above (below) policyholder account balances (b) (195.7) (410.5) Future loss reserves (c) 31.0 34.7 Future policy benefits $ 11,736.5 $ 11,623.3 _______________ (a) Primarily comprised of blocks of business that are 100% ceded. (b) Such amount represents the difference between: (i) the total insurance liabilities for our fixed indexed annuities (including the host contract and the related embedded derivative); and (ii) the policyholder account balances for these products. The accounting requirement to bifurcate the embedded derivative and value it at the current estimated fair value results in this amount. (c) In certain instances for interest-sensitive products, the total insurance liabilities for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. In these situations, accounting standards require that an additional liability (the "future loss reserve") be recognized by an amount necessary to sufficiently offset the losses that would be recognized in later years. Many of our fixed indexed annuity products include a guaranteed living withdrawal benefit ("GLWB") that is considered a market risk benefit ("MRB"). The calculation of MRBs includes market assumptions (interest rate, equity returns, volatility and dividend yields) and nonmarket assumptions (mortality rates, surrender and withdrawal rates, GLWB utilization and spreads). Market assumptions are updated quarterly to reflect current market conditions. During the first three months of 2024, we reviewed the nonmarket assumptions used to calculate MRBs and determined that such assumptions were appropriate. The following table presents the balance of and changes in MRBs associated with our fixed indexed annuities (dollars in millions): Three months ended March 31, 2024 2023 Net liability (asset), beginning of period $ (68.0) $ (54.0) Effect of changes in the instrument-specific credit risk, beginning of period 4.8 12.2 Balance, beginning of period, before effect of changes in the instrument-specific credit risk (63.2) (41.8) Issuances (.1) .1 Interest accrual 5.1 5.2 Attributed fees collected — — Benefit payments — — Effect of changes in interest rates (13.7) 12.3 Effect of changes in equity markets (5.0) 5.3 Effect of changes in equity index volatility (1.2) (7.4) Actual policyholder behavior different from expected behavior 1.9 .6 Effect of changes in future expected policyholder behavior - other — — Effect of changes in future expected policyholder behavior - risk margin — — Effect of changes in assumptions (.8) (1.4) Net liability (asset), end of period, before effect of changes in the instrument-specific credit risk (77.0) (27.1) Effect of changes in the instrument-specific credit risk, end of period (3.3) (13.1) Net liability (asset), end of period (80.3) (40.2) Reinsurance recoverable, end of period — — Net liability (asset), end of period, net of reinsurance $ (80.3) $ (40.2) Balance reported as an asset $ 84.1 $ 57.8 Balance reported as a liability 3.8 17.6 Net liability (asset) $ (80.3) $ (40.2) Net amount at risk $ 46.2 $ 58.9 Weighted average attained age of contract holders 69 68 The following table summarizes the amount of revenue and interest related to traditional and limited-payment contracts recognized in the consolidated statement of operations (dollars in millions): Gross premiums (a) Interest accretion (b) Three months ended Three months ended March 31, March 31, 2024 2023 2024 2023 Other annuities $ 1.0 $ 1.3 $ 3.6 $ 3.7 Supplemental health 175.2 179.4 41.9 41.8 Medicare supplement 156.8 159.2 2.7 2.7 Long-term care 85.0 82.7 43.8 43.2 Traditional life 178.9 178.8 28.5 28.0 Total $ 596.9 $ 601.4 $ 120.5 $ 119.4 _____________________ (a) Such amounts are included in insurance policy income in the consolidated statement of operations. (b) Such amounts are included in insurance policy benefits in the consolidated statement of operations. The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses for traditional and limited-payment contracts (dollars in millions): March 31, 2024 March 31, 2023 Undiscounted Discounted (a) Undiscounted Discounted (a) Other annuity Expected future gross premiums $ — $ — $ — $ — Expected future benefits and expenses 370.6 298.9 396.9 316.3 Supplemental health Expected future gross premiums 8,932.2 5,527.6 8,964.4 5,605.7 Expected future benefits and expenses 10,812.6 5,897.0 11,040.9 6,080.8 Medicare supplement Expected future gross premiums 5,744.3 4,024.7 5,645.2 4,031.9 Expected future benefits and expenses 4,601.3 3,198.7 4,417.8 3,136.5 Long-term care Expected future gross premiums 3,330.8 2,340.7 2,954.3 2,152.7 Expected future benefits and expenses 7,724.0 4,274.7 7,445.7 4,266.6 Traditional life Expected future gross premiums 5,642.0 4,048.0 5,435.0 3,953.3 Expected future benefits and expenses 7,574.2 4,620.1 7,382.8 4,560.6 _____________________ (a) Calculated at the discount rates at period end. Loss expense as a result of net premium ratio capping was not material in both the three months ended March 31, 2024 and 2023. The following table provides the weighted average durations (under locked-in rates) of the liability for future policy benefits in years: March 31, March 31, Other annuity 9.6 9.7 Supplemental health 11.3 11.8 Medicare supplement 6.4 6.1 Long-term care 10.6 10.5 Traditional life 10.4 10.1 The following table provides the weighted average interest rates for the liability for future policy benefits: March 31, March 31, Other annuities Interest accretion rate 4.82 % 4.76 % Current discount rate 5.37 % 5.17 % Supplemental health Interest accretion rate 5.00 % 5.04 % Current discount rate 5.35 % 5.14 % Medicare supplement Interest accretion rate 4.31 % 4.26 % Current discount rate 5.24 % 4.94 % Long-term care Interest accretion rate 5.67 % 5.67 % Current discount rate 5.39 % 5.18 % Traditional life Interest accretion rate 4.77 % 4.77 % Current discount rate 5.37 % 5.15 % Policyholder account balances represent the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. It includes the accumulated account deposits, plus interest credited, less policyholder withdrawals and, if applicable, charges assessed. This balance also includes liabilities for the funding agreement-backed notes ("FABN"). Total liabilities for insurance products related to our fixed indexed annuities are comprised of: (i) the liability related to the host contract; and (ii) the fair market value of the embedded derivatives as summarized below (dollars in millions): March 31, December 31, Fixed indexed annuity insurance liabilities: Host contract liability $ 8,601.8 $ 8,487.0 Embedded derivatives at fair value 1,426.8 1,376.7 Total fixed indexed annuity insurance liabilities $ 10,028.6 $ 9,863.7 For presentation in the consolidated balance sheet, the total fixed indexed annuity insurance liability balance is bifurcated between: (i) policyholder account balances (which is the total of all current balances accruing to the policyholder under the terms and conditions of the policies assuming the contracts will continue in force); and (ii) the difference between the total fixed indexed annuity insurance liabilities summarized above and the policyholder account balances, which is classified as future policy benefits. These classifications are summarized below (dollars in millions): March 31, December 31, Policyholder account balances $ 10,247.1 $ 10,138.6 Future policy benefits (218.5) (274.9) Total fixed indexed annuity insurance liabilities $ 10,028.6 $ 9,863.7 When the total policyholder account balance exceeds the total fixed indexed annuity insurance liabilities, a negative future policy benefit balance will occur. The following tables present the balances of and changes in the liability for policyholder account balances (dollars in millions): Three months ended March 31, 2024 Fixed indexed annuities Fixed interest annuities Other annuities Interest-sensitive life (b) Funding agreements Other (a) Balance, beginning of period excluding contracts 100% ceded $ 9,999.2 $ 1,636.4 $ 113.1 $ 1,255.2 $ 1,411.0 $ 381.0 Issuances (funds collected from new business) 345.4 45.1 — 9.7 — — Premiums received (premiums collected from inforce business) .5 1.0 5.7 52.4 — 65.7 Policy charges (6.5) (.3) — (48.2) — — Surrenders and withdrawals (232.2) (52.8) (8.7) (8.1) (9.9) (74.5) Benefit payments (74.4) (30.2) (1.4) (5.4) — — Interest credited 68.9 11.4 .5 15.2 7.2 .7 Other 11.8 — (.1) (.1) — — Balance, end of period excluding contracts 100% ceded 10,112.7 1,610.6 109.1 1,270.7 1,408.3 372.9 Balance, end of period for contracts 100% ceded 134.4 579.3 25.5 102.9 — 10.3 Balance, end of period $ 10,247.1 $ 2,189.9 $ 134.6 $ 1,373.6 $ 1,408.3 $ 383.2 Balance, end of period, reinsurance ceded (134.4) (579.3) (25.5) (121.0) — (24.0) Balance, end of period, net of reinsurance $ 10,112.7 $ 1,610.6 $ 109.1 $ 1,252.6 $ 1,408.3 $ 359.2 Weighted average crediting rate 1.9 % 2.8 % 2.4 % 4.3 % 2.0 % 0.8 % Cash surrender value, net of reinsurance $ 9,434.2 $ 1,582.1 $ 109.1 $ 1,027.7 $ — $ 359.2 _______________ (a) Predominantly consists of retained asset accounts associated with our traditional life and supplemental health blocks. (b) The amount of insurance policy benefit expense resulting from death claims that we would incur in excess of the policyholder account balance (net amount at risk) for interest-sensitive life contracts was $28,672.9 million at the balance sheet date. Three months ended March 31, 2023 Fixed indexed annuities Fixed interest annuities Other annuities Interest-sensitive life (b) Funding agreements Other (a) Balance, beginning of period excluding contracts 100% ceded $ 9,490.4 $ 1,663.1 $ 127.1 $ 1,209.6 $ 1,410.8 $ 395.5 Issuances (funds collected from new business) 323.3 45.3 — 9.5 — — Premiums received (premiums collected from inforce business) .4 .7 7.5 50.3 — 63.0 Policy charges (4.0) (.2) — (46.1) — — Surrenders and withdrawals (178.2) (43.3) (10.5) (8.2) (9.9) (72.6) Benefit payments (59.2) (27.7) (1.7) (6.0) — — Interest credited 6.1 11.3 .6 8.1 7.2 .7 Other 5.5 .1 (.2) — — — Balance, end of period excluding contracts 100% ceded 9,584.3 1,649.3 122.8 1,217.2 1,408.1 386.6 Balance, end of period for contracts 100% ceded 154.4 632.6 26.3 110.7 — 10.6 Balance, end of period $ 9,738.7 $ 2,281.9 $ 149.1 $ 1,327.9 $ 1,408.1 $ 397.2 Balance, end of period, reinsurance ceded (154.4) (632.6) (26.3) (130.5) — (24.8) Balance, end of period, net of reinsurance $ 9,584.3 $ 1,649.3 $ 122.8 $ 1,197.4 $ 1,408.1 $ 372.4 Weighted average crediting rate 1.6 % 2.7 % 1.9 % 3.1 % 2.0 % 0.6 % Cash surrender value, net of reinsurance $ 8,932.4 $ 1,631.5 $ 122.8 $ 977.1 $ — $ 372.4 _________________ (a) Predominantly consists of retained asset accounts associated with our traditional life and supplemental health blocks. (b) The amount of insurance policy benefit expense resulting from death claims that we would incur in excess of the policyholder account balance (net amount at risk) for interest-sensitive life contracts was $26,865.3 million at the balance sheet date. The following table reconciles the liability for policyholder account balances to the amount presented in the consolidated balance sheet (dollars in millions): March 31, 2024 March 31, 2023 Amounts included in the liability for policyholder account balances rollforwards: Fixed indexed annuities $ 10,247.1 $ 9,738.7 Fixed interest annuities 2,189.9 2,281.9 Other annuities 134.6 149.1 Interest-sensitive life 1,373.6 1,327.9 Funding agreements 1,408.3 1,408.1 Other 383.2 397.2 Total $ 15,736.7 $ 15,302.9 The following tables present the account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums (dollars in millions): March 31, 2024 Range of guaranteed minimum crediting rates (a) At guaranteed minimum 1-50 basis points above 51-150 basis points above Greater than 150 basis points above Total Fixed interest annuities 0.00%-2.99% $ 105.2 $ 211.9 $ 233.0 $ 100.9 $ 651.0 3.00%-4.99% 1,380.6 49.6 15.9 5.2 1,451.3 5.00% and greater 87.6 — — — 87.6 Subtotal 1,573.4 261.5 248.9 106.1 2,189.9 Other annuities 0.00%-2.99% 31.6 24.1 — — 55.7 3.00%-4.99% 44.4 — — — 44.4 5.00% and greater 34.5 — — — 34.5 Subtotal 110.5 24.1 — — 134.6 Interest-sensitive life 0.00%-2.99% 17.6 — 5.4 667.2 690.2 3.00%-4.99% 444.2 49.7 167.1 .5 661.5 5.00% and greater 21.4 .5 — — 21.9 Subtotal 483.2 50.2 172.5 667.7 1,373.6 Other 0.00%-2.99% 17.1 343.0 — — 360.1 3.00%-4.99% 22.9 — — — 22.9 5.00% and greater .2 — — — .2 Subtotal 40.2 343.0 — — 383.2 Total 0.00%-2.99% 171.5 579.0 238.4 768.1 1,757.0 3.00%-4.99% 1,892.1 99.3 183.0 5.7 2,180.1 5.00% and greater 143.7 .5 — — 144.2 Total policyholder account balances, excluding fixed indexed annuities $ 2,207.3 $ 678.8 $ 421.4 $ 773.8 4,081.3 Fixed indexed annuity account balances 10,247.1 Funding agreements 1,408.3 Total policyholder account balances $ 15,736.7 ____________________ (a) Excludes the account balances related to: (i) fixed indexed annuity contracts which do not have a minimum crediting rate since returns are based on an index; and (ii) funding agreements which have a fixed crediting rate. March 31, 2023 Range of guaranteed minimum crediting rates (a) At guaranteed minimum 1-50 basis points above 51-150 basis points above Greater than 150 basis points above Total Fixed interest annuities 0.00%-2.99% $ 144.9 $ 291.7 $ 78.3 $ 76.9 $ 591.8 3.00%-4.99% 1,572.0 27.7 .1 — 1,599.8 5.00% and greater 90.3 — — — 90.3 Subtotal 1,807.2 319.4 78.4 76.9 2,281.9 Other annuities 0.00%-2.99% 43.6 29.5 — — 73.1 3.00%-4.99% 65.3 — — — 65.3 5.00% and greater 10.7 — — — 10.7 Subtotal 119.6 29.5 — — 149.1 Interest-sensitive life 0.00%-2.99% 66.5 225.8 226.3 125.0 643.6 3.00%-4.99% 461.5 51.7 148.4 .3 661.9 5.00% and greater 21.9 .5 — — 22.4 Subtotal 549.9 278.0 374.7 125.3 1,327.9 Other 0.00%-2.99% 17.8 355.4 — — 373.2 3.00%-4.99% 23.6 — — — 23.6 5.00% and greater .4 — — — .4 Subtotal 41.8 355.4 — — 397.2 Total 0.00%-2.99% 272.8 902.4 304.6 201.9 1,681.7 3.00%-4.99% 2,122.4 79.4 148.5 .3 2,350.6 5.00% and greater 123.3 .5 — — 123.8 Total policyholder account balances, excluding fixed indexed annuities $ 2,518.5 $ 982.3 $ 453.1 $ 202.2 4,156.1 Fixed indexed annuity account balances 9,738.7 Funding agreements 1,408.1 Total policyholder account balances $ 15,302.9 ____________________

DEFERRED ACQUISITION COSTS, PRE

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS	3 Months Ended
	Mar. 31, 2024
Deferred Charges, Insurers [Abstract]
DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS	DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS Changes in deferred acquisition costs were as follows (dollars in millions): Three months ended March 31, 2024 Fixed indexed annuities Fixed interest annuities Supplemental health Medicare supplement Long-term care Interest-sensitive life Traditional life Funding agreements Total Beginning of period $ 407.6 $ 27.0 $ 408.0 $ 157.5 $ 140.3 $ 234.5 $ 471.9 $ 4.5 $ 1,851.3 Capitalizations 22.3 3.0 15.0 6.3 5.2 9.3 29.5 — 90.6 Amortization expense (13.4) (1.1) (8.4) (6.7) (3.7) (3.8) (14.3) (.4) (51.8) End of period $ 416.5 $ 28.9 $ 414.6 $ 157.1 $ 141.8 $ 240.0 $ 487.1 $ 4.1 $ 1,890.1 Three months ended March 31, 2023 Fixed indexed annuities Fixed interest annuities Supplemental health Medicare supplement Long-term care Interest-sensitive life Traditional life Funding agreements Total Beginning of period $ 365.6 $ 19.6 $ 378.8 $ 161.2 $ 137.9 $ 212.2 $ 409.1 $ 6.0 $ 1,690.4 Capitalizations 21.6 2.5 14.4 5.8 3.4 8.3 28.2 — 84.2 Amortization expense (11.1) (.9) (7.6) (7.2) (3.8) (3.5) (12.2) (.3) (46.6) End of period $ 376.1 $ 21.2 $ 385.6 $ 159.8 $ 137.5 $ 217.0 $ 425.1 $ 5.7 $ 1,728.0 Changes in the present value of future profits were as follows (dollars in millions): Three months ended March 31, 2024 Supplemental health Medicare supplement Long-term care Traditional life Fixed indexed annuities Fixed interest annuities Total Beginning of period $ 141.0 $ 20.6 $ 5.2 $ 12.9 $ .7 $ .3 $ 180.7 Amortization expense (3.1) (1.4) (.2) (.4) (.1) — (5.2) End of period $ 137.9 $ 19.2 $ 5.0 $ 12.5 $ .6 $ .3 $ 175.5 Three months ended March 31, 2023 Supplemental health Medicare supplement Long-term care Traditional life Fixed indexed annuities Fixed interest annuities Total Beginning of period $ 154.0 $ 27.5 $ 6.2 $ 14.8 $ .8 $ .4 $ 203.7 Amortization expense (3.3) (1.9) (.3) (.5) (.1) — (6.1) End of period $ 150.7 $ 25.6 $ 5.9 $ 14.3 $ .7 $ .4 $ 197.6 Changes in sales inducements were as follows (dollars in millions): Three months ended March 31, 2024 Fixed indexed annuities Fixed interest annuities Total Beginning of period $ 88.5 $ 4.6 $ 93.1 Capitalizations 12.3 .3 12.6 Amortization expense (3.3) (.2) (3.5) End of period $ 97.5 $ 4.7 $ 102.2 Three months ended March 31, 2023 Fixed indexed annuities Fixed interest annuities Total Beginning of period $ 76.0 $ 4.5 $ 80.5 Capitalizations 5.4 .2 5.6 Amortization expense (2.6) (.2) (2.8) End of period $ 78.8 $ 4.5 $ 83.3

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE A reconciliation of net income (loss) and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands): Three months ended March 31, 2024 2023 Net income (loss) for basic and diluted earnings per share $ 112.3 $ (.8) Shares: Weighted average shares outstanding for basic earnings per share 108,964 114,545 Effect of dilutive securities on weighted average shares: Amounts related to employee benefit plans 1,881 — Weighted average shares outstanding for diluted earnings per share 110,845 114,545 In the three months ended March 31, 2023, the equivalent of 2,182 thousand common shares (related to shares issuable pursuant to employee benefit plans) were not included in the diluted weighted average shares outstanding because their inclusion would have been anti-dilutive due to the net loss recognized by the Company in such period.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	Mar. 31, 2024
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 income 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 of deferred acquisition costs and present value of future profits, 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 net insurance liabilities for the block in each period. Net insurance liabilities for the purpose of allocating investment income to product lines are equal to: (i) policyholder account balances for annuity products; (ii) total reserves before the fair value adjustments reflected in accumulated other comprehensive income (loss), if applicable, for all other products; less (iii) amounts related to reinsured business; (iv) deferred acquisition costs; (v) the present value of future profits; and (vi) the value of unexpired options credited to insurance liabilities. Income from insurance products is the sum of the insurance product 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 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. 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 the sale of voluntary benefit life and health insurance products in the workplace 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 wholly-owned subsidiary, Optavise, LLC ("Optavise"), a national provider of year-round technology-driven employee benefits management services. 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, investment borrowings and financing arrangements; (iv) expenses related to the FABN program; and (v) certain expenses related to benefit plans that are offset by special-purpose investment income; plus (vi) the impact of annual option forfeitures related to fixed indexed annuity surrenders. 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 Federal Home Loan Bank ("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 company-owned life insurance ("COLI") and alternative investment income not allocated to product lines), net of interest expense on corporate debt and financing arrangements. 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 Optavise 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), changes in fair value of embedded derivative liabilities and MRBs, 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), changes in fair value of embedded derivative liabilities and MRBs, 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 changes in fair value of embedded derivative liabilities and MRBs 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): Three months ended March 31, 2024 2023 Revenues: Annuity: Insurance policy income $ 7.3 $ 5.1 Net investment income 134.5 125.4 Total annuity revenues 141.8 130.5 Health: Insurance policy income 398.4 401.4 Net investment income 74.3 74.0 Total health revenues 472.7 475.4 Life: Insurance policy income 222.7 219.0 Net investment income 36.5 36.3 Total life revenues 259.2 255.3 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) 139.7 18.6 Investment income not allocated to product lines 71.6 67.8 Fee revenue and other income: Fee revenue 50.5 51.3 Amounts netted in expenses not allocated to product lines 1.2 1.6 Total segment revenues $ 1,136.7 $ 1,000.5 (continued on next page) (continued from previous page) Three months ended March 31, 2024 2023 Expenses: Annuity: Insurance policy benefits $ 11.3 $ 8.7 Interest credited 58.3 48.1 Amortization and non-deferred commissions 20.2 16.4 Total annuity expenses 89.8 73.2 Health: Insurance policy benefits 308.5 318.1 Amortization and non-deferred commissions 41.2 40.8 Total health expenses 349.7 358.9 Life: Insurance policy benefits 144.0 147.2 Interest credited 12.5 12.1 Amortization, non-deferred commissions and advertising expense 48.1 48.6 Total life expenses 204.6 207.9 Allocated expenses 161.6 157.5 Expenses not allocated to product lines 18.0 19.9 Market value changes of options credited to fixed indexed annuity and life policyholders 139.7 18.6 Amounts netted in investment income not allocated to product lines: Interest expense 48.3 37.4 Interest credited 7.2 7.2 Impact of annual option forfeitures related to fixed indexed annuity surrenders (6.2) — Amortization .4 .4 Other expenses 9.6 7.3 Expenses netted in fee revenue: Commissions and other operating expenses 39.2 35.8 Total segment expenses 1,061.9 924.1 Pre-tax measure of profitability: Annuity margin 52.0 57.3 Health margin 123.0 116.5 Life margin 54.6 47.4 Total insurance product margin 229.6 221.2 Allocated expenses (161.6) (157.5) Income from insurance products 68.0 63.7 Fee income 11.3 15.5 Investment income not allocated to product lines 12.3 15.5 Expenses not allocated to product lines (16.8) (18.3) Operating earnings before taxes 74.8 76.4 Income tax expense on operating income 17.3 17.8 Net operating income $ 57.5 $ 58.6 A reconciliation of segment revenues and expenses to consolidated revenues and expenses and net income (loss) is as follows (dollars in millions): Three months ended March 31, 2024 2023 Total segment revenues $ 1,136.7 $ 1,000.5 Total investment gains (losses) 7.8 (14.6) Revenues related to earnings attributable to VIEs 12.0 20.1 Consolidated revenues 1,156.5 1,006.0 Total segment expenses 1,061.9 924.1 Insurance policy benefits - fair value changes in embedded derivative liabilities (64.0) 65.1 Expenses attributable to VIEs 12.4 17.8 Consolidated expenses 1,010.3 1,007.0 Income (loss) before tax 146.2 (1.0) Income tax expense (benefit) 33.9 (.2) Net income (loss) $ 112.3 $ (.8)

ACCOUNTING FOR DERIVATIVES

ACCOUNTING FOR DERIVATIVES	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
ACCOUNTING FOR DERIVATIVES	ACCOUNTING FOR 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 March 31, December 31, 2023 Assets: Other invested assets: Fixed indexed call options $ 355.0 $ 239.2 Reinsurance receivables (17.2) (17.5) Total assets $ 337.8 $ 221.7 Liabilities: Embedded derivatives related to fixed indexed annuities at fair value: Policyholder account balances $ 1,645.3 $ 1,651.6 Future policy benefits (218.5) (274.9) Total liabilities $ 1,426.8 $ 1,376.7 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 $81 million in underlying investments held by the ceding reinsurer at March 31, 2024. 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. These accounting requirements often create volatility in the earnings from these products. 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. The notional amount of these options was $3.6 billion and $3.3 billion at March 31, 2024 and December 31, 2023, respectively. 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 recognized in net income. The following table provides the pre-tax impact recognized in net income for derivative instruments, which are not designated as hedges for the periods indicated (dollars in millions): Three months ended March 31, 2024 2023 Net investment income from policyholder and other special-purpose portfolios: Fixed indexed call options $ 140.2 $ 18.6 Total investment gains: Embedded derivative related to modified coinsurance agreement .3 1.4 Total revenues from derivative instruments, not designated as hedges 140.5 20.0 Insurance policy benefits: Embedded derivatives related to fixed indexed annuities — 64.9 Net pre-tax impact $ 140.5 $ (44.9) 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 March 31, 2024, all of our counterparties were rated "A" or higher by S&P Global Ratings ("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 March 31, 2024 and December 31, 2023 (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 Non-cash collateral Cash collateral received Net amount March 31, 2024: Fixed indexed call options $ 355.0 $ — $ 355.0 $ 76.0 $ — $ 279.0 December 31, 2023: Fixed indexed call options 239.2 — 239.2 37.0 — 202.2

REINSURANCE

REINSURANCE	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
REINSURANCE	REINSURANCE The cost of reinsurance ceded totaled $46.0 million and $48.3 million in the first quarters of 2024 and 2023, respectively. We deduct this cost from insurance policy income. Reinsurance recoveries netted against insurance policy benefits totaled $105.8 million and $134.9 million in the first quarters of 2024 and 2023, 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 $4.1 million and $4.1 million in the first quarters of 2024 and 2023, respectively. Insurance policy benefits related to reinsurance assumed totaled $5.9 million and $4.7 million in the first quarters of 2024 and 2023, respectively.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company's interim tax expense is based upon the estimated annual effective tax rate for the respective period. Under authoritative guidance, certain items are required to be excluded from the estimated annual effective tax rate calculation. Such items include changes in judgment about the realizability of deferred tax assets resulting from changes in projections of income expected to be available in future years, and items deemed to be unusual, infrequent, or that cannot be reliably estimated. In these cases, the actual tax expense or benefit applicable to that item is treated discretely and is reported in the same period as the related item. The components of income tax expense (benefit) are as follows (dollars in millions): Three months ended March 31, 2024 2023 Current tax expense $ 17.3 $ 14.0 Deferred tax expense (benefit) 16.6 (14.2) Total income tax expense (benefit) $ 33.9 $ (.2) A reconciliation of the U.S. statutory corporate tax rate to the estimated annual effective rate, reflected in the consolidated statement of operations is as follows: Three months ended March 31, 2024 2023 U.S. statutory corporate rate 21.0 % 21.0 % Non-taxable income and nondeductible benefits, net — (.4) State taxes 2.2 2.7 Effective tax rate 23.2 % 23.3 % The components of the Company's income tax assets and liabilities are summarized below (dollars in millions): March 31, December 31, Deferred tax assets: Net federal operating loss carryforwards $ 268.3 $ 77.1 Net state operating loss carryforwards 42.8 2.5 Insurance liabilities 318.8 322.8 Indirect costs allocable to self-constructed real estate assets — 252.9 Accumulated other comprehensive loss 419.0 445.5 Other 47.8 35.6 Gross deferred tax assets 1,096.7 1,136.4 Deferred tax liabilities: Investments (35.0) (36.3) Present value of future profits and deferred acquisition costs (167.7) (163.0) Gross deferred tax liabilities (202.7) (199.3) Net deferred tax assets 894.0 937.1 Current income taxes accrued (7.9) (.9) Income tax assets, net $ 886.1 $ 936.2 Effective January 1, 2024, the Company changed its method of accounting for indirect costs allocable to self-constructed real estate assets which will be reflected in its 2024 federal income tax return filing. This change in accounting method will result in a current year deduction of certain indirect costs previously capitalized under the Company's prior method of accounting. As a result, for tax reporting purposes, the Company recognized a loss of $987 million in the first quarter of 2024 related to the change in accounting method. The loss can be carried forward indefinitely pursuant to Tax Cuts and Jobs Act, subject to limitations specified in the Internal Revenue Code (the "Code"). 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, 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. Our estimates of future taxable income are based on evidence we consider to be objectively verifiable. Such estimates are subject to numerous risks and uncertainties 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 $894.0 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 the recognition of a valuation allowance in a future period. The recognition of a valuation allowance would increase income tax expense and reduce shareholders' equity, and such an increase could have a significant impact upon our earnings in the future. 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 (3.44 percent at March 31, 2024), and the annual restriction could limit our ability to use a substantial portion of our NOLs to offset future taxable income or may defer the utilization of such NOLs. We regularly monitor ownership change (as calculated for purposes of Section 382) and, as of March 31, 2024, we were below the 50 percent ownership change level that could limit our ability to utilize our NOLs. We have $1.3 billion of federal non-life NOLs as of March 31, 2024, as summarized below (dollars in millions): Net operating loss Year of expiration carryforwards 2026 $ 15.8 2027 10.8 2028 through 2035 340.7 No expiration date 910.5 Total federal non-life NOLs $ 1,277.8 Our non-life NOLs with expiration dates 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. Our non-life NOLs with no expiration date can be used to offset 35 percent of life insurance company taxable income and 80 percent of non-life company taxable income. We also had deferred tax assets related to NOLs for state income taxes of $42.8 million and $2.5 million at March 31, 2024 and December 31, 2023, 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.

NOTES PAYABLE - DIRECT CORPORAT

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and December 31, 2023 (dollars in millions): March 31, December 31, 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 November 2060 150.0 150.0 Revolving Credit Agreement (as defined below) — — Unamortized debt issue costs (9.0) (9.5) Direct corporate obligations $ 1,141.0 $ 1,140.5 Revolving Credit Agreement The $250.0 million revolving credit agreement (the "Revolving Credit Agreement"), among other things, (i) 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 percent of total capitalization) of not more than 35.0 percent (such ratio was 21.4 percent at March 31, 2024); and (ii) a minimum consolidated net worth of not less than the sum of (x) $2,674 million plus (y) 25.0 percent 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 $3,848.0 million at March 31, 2024 compared to the minimum requirement of $2,697.2 million). The maturity date of the Revolving Credit Agreement is July 16, 2026. The Revolving Credit Agreement contains certain other restrictive covenants with which the Company must comply. The interest rate applicable to loans under the Revolving Credit Agreement is calculated as the Secured Overnight Financing Rate ("SOFR") (plus a credit spread adjustment of 0.10 percent for all available interest periods) or the base rate, at the Company's option, plus a 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 SOFR, and 0.375 percent to 1.125 percent, in the case of loans at the base rate. The commitment fee under the Revolving Credit Agreement is based on the Company's unsecured debt rating. There were no amounts outstanding under the Revolving Credit Agreement during the three months ended March 31, 2024.

INVESTMENT BORROWINGS

INVESTMENT BORROWINGS	3 Months Ended
	Mar. 31, 2024
Investment Borrowings [Abstract]
INVESTMENT BORROWINGS	INVESTMENT BORROWINGS Three of the Company's insurance subsidiaries (Bankers Life and Casualty Company ("Bankers Life"), Washington National Insurance Company ("Washington National") and Colonial Penn Life Insurance Company ("Colonial Penn")) 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 March 31, 2024, the carrying value of the FHLB common stock was $94.6 million. As of March 31, 2024, collateralized borrowings from the FHLB totaled $2.2 billion and the proceeds were used to purchase matched variable rate 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 $2.7 billion at March 31, 2024, 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 March 31, 2024 $ 15.5 July 2024 Fixed rate – 1.990% 27.0 August 2024 Fixed rate – .640% 21.7 May 2025 Variable rate – 5.724% 17.9 June 2025 Fixed rate – 2.940% 12.5 June 2025 Variable rate – 5.900% 125.0 September 2025 Variable rate – 5.680% 100.0 October 2025 Variable rate – 5.865% 100.0 October 2025 Variable rate – 5.860% 57.7 October 2025 Variable rate – 5.830% 50.0 November 2025 Variable rate – 5.818% 12.5 December 2025 Variable rate – 5.916% 50.0 January 2026 Variable rate – 5.781% 50.0 January 2026 Variable rate – 5.763% 100.0 January 2026 Variable rate – 5.783% 15.0 January 2026 Variable rate – 5.997% 21.8 May 2026 Variable rate – 5.673% 50.0 May 2026 Variable rate – 5.600% 75.0 December 2026 Variable rate – 5.752% 75.0 January 2027 Variable rate – 5.683% 50.0 January 2027 Variable rate – 5.798% 50.0 January 2027 Variable rate – 5.798% 100.0 January 2027 Variable rate – 5.744% 100.0 February 2027 Variable rate – 5.770% 50.0 April 2027 Variable rate – 5.648% 50.0 May 2027 Variable rate – 5.658% 100.0 June 2027 Variable rate – 5.700% 10.0 June 2027 Variable rate – 5.923% 50.0 July 2027 Variable rate – 6.018% 50.0 July 2027 Variable rate – 6.028% 100.0 August 2027 Variable rate – 6.044% 75.0 January 2028 Variable rate – 5.784% 50.0 January 2028 Variable rate – 5.838% 50.0 January 2028 Variable rate – 5.855% 34.5 February 2028 Variable rate – 5.904% 100.0 February 2028 Variable rate – 5.825% 21.0 February 2028 Variable rate – 5.775% 22.0 February 2028 Variable rate – 5.818% 100.0 February 2028 Variable rate – 5.790% 15.0 July 2028 Variable rate – 5.710% 35.0 August 2028 Variable rate – 5.720% $ 2,189.1 Generally, the variable and fixed rate borrowings are pre-payable. At March 31, 2024, the aggregate prepayment penalty on such outstanding borrowings was not material. Interest expense of $31.4 million and $21.7 million in the first three months of 2024 and 2023, respectively, was recognized related to total borrowings from the FHLB, reflecting both higher interest rates on the variable rate investment borrowings and higher average borrowings outstanding in the 2024 period.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY In the first three months of 2024, we repurchased 1.5 million shares of common stock for $40.0 million under our securities repurchase program (including $0.8 million of repurchases settled in the second quarter of 2024). The Company had remaining repurchase authority of $481.8 million as of March 31, 2024. In the first three months of 2024, we issued 0.7 million shares of common stock, net of shares withheld to pay tax withholdings, pursuant to employee benefit plans. In the first three months of 2024, dividends declared on common stock totaled $16.4 million ($0.15 per common share). In May 2024, the Company increased its quarterly common stock dividend to $0.16 per share from $0.15 per share. Accumulated other comprehensive income (loss), included in shareholders' equity as of March 31, 2024 and December 31, 2023, is comprised of the following (dollars in millions): March 31, December 31, Net unrealized losses on investments having no allowance for credit losses $ (1,267.2) $ (1,235.2) Unrealized losses on investments with an allowance for credit losses (1,006.3) (931.0) Change in discount rates for liability for future policy benefits 365.1 133.4 Change in instrument-specific credit risk for market risk benefits 3.4 4.8 Deferred income tax assets 424.7 451.2 Accumulated other comprehensive loss $ (1,480.3) $ (1,576.8)

LITIGATION AND OTHER LEGAL PROC

LITIGATION AND OTHER LEGAL PROCEEDINGS	3 Months Ended
	Mar. 31, 2024
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 June 7, 2019, Platinum Partners Value Arbitrage Fund L.P. (in Official Liquidation) ("PPVA"), the Joint Official Liquidators of PPVA (the "JOLs") and Principal Growth Strategies, LLC, ("PGS"), commenced suit against, among others, CNO Financial Group, Inc., Bankers Conseco Life Insurance Company ("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 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. On December 1, 2023, the Delaware Chancery Court lifted the stay as of November 30, 2023. On January 25, 2024, the Delaware Chancery Court granted in part and denied in part the CNO Parties’ motion to dismiss the Amended Complaint. Based on the Court’s ruling, PPVA and the JOLs’ claims against the CNO Parties were dismissed. On April 9, 2024, PGS filed a second amended complaint, which contains the same claims against the CNO Parties that PGS had previously asserted. The CNO Parties are vigorously contesting PGS's claims. 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 (the "Optional Premium Payment") of plaintiffs' insurance policies. In January 2018, the case was transferred to the United States District Court for 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 their policies 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.

CONSOLIDATED STATEMENT OF CAS_2

CONSOLIDATED STATEMENT OF CASH FLOWS	3 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Elements [Abstract]
CONSOLIDATED STATEMENT OF CASH FLOWS	CONSOLIDATED STATEMENT OF CASH FLOWS The following reconciles net income (loss) to net cash from operating activities (dollars in millions): Three months ended March 31, 2024 2023 Cash flows from operating activities: Net income (loss) $ 112.3 $ (.8) Adjustments to reconcile net income (loss) to net cash from operating activities: Amortization and depreciation 70.4 65.7 Income taxes 23.8 (6.4) Insurance liabilities 156.6 173.3 Accrual, amortization and fair value changes included in investment income (134.8) (27.9) Deferral of policy acquisition costs (103.2) (89.8) Net investment (gains) losses (7.8) 14.6 Other (a) (22.7) (46.8) Net cash from operating activities $ 94.6 $ 81.9 _____________ (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): Three months ended March 31, 2024 2023 Amounts related to employee benefit plans $ 6.1 $ 6.5

INVESTMENTS IN VARIABLE INTERES

INVESTMENTS IN VARIABLE INTEREST ENTITIES	3 Months Ended
	Mar. 31, 2024
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 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 tables provide supplemental information about the assets and liabilities of the VIEs which have been consolidated in accordance with authoritative guidance (dollars in millions): March 31, 2024 VIEs Eliminations Net effect on Assets: Investments held by variable interest entities $ 533.4 $ — $ 533.4 Notes receivable of VIEs held by subsidiaries — (104.9) (104.9) Cash and cash equivalents held by variable interest entities 83.5 — 83.5 Accrued investment income 1.7 — 1.7 Income tax assets, net 12.5 — 12.5 Other assets .9 (.5) .4 Total assets $ 632.0 $ (105.4) $ 526.6 Liabilities: Other liabilities $ 11.0 $ (2.9) $ 8.1 Borrowings related to variable interest entities 565.5 — 565.5 Notes payable of VIEs held by subsidiaries 106.1 (106.1) — Total liabilities $ 682.6 $ (109.0) $ 573.6 December 31, 2023 VIEs Eliminations Net effect on Assets: Investments held by variable interest entities $ 768.6 $ — $ 768.6 Notes receivable of VIEs held by subsidiaries — (113.8) (113.8) Cash and cash equivalents held by variable interest entities 114.5 — 114.5 Accrued investment income 2.7 — 2.7 Income tax assets, net 13.0 — 13.0 Other assets — (.7) (.7) Total assets $ 898.8 $ (114.5) $ 784.3 Liabilities: Other liabilities $ 14.6 $ (2.2) $ 12.4 Borrowings related to variable interest entities 820.8 — 820.8 Notes payable of VIEs held by subsidiaries 126.1 (126.1) — Total liabilities $ 961.5 $ (128.3) $ 833.2 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. At March 31, 2024, such loans had an amortized cost of $547.2 million; gross unrealized gains of $1.7 million; gross unrealized losses of $11.2 million; allowance for credit losses of $4.3 million; and an estimated fair value of $533.4 million. The following table summarizes changes in the allowance for credit losses related to corporate securities held by VIEs for the three months ended March 31, 2024 and 2023 (dollars in millions): Three months ended March 31, 2024 2023 Allowance at the beginning of the period $ 3.1 $ 5.5 Additions for securities for which credit losses were not previously recorded .3 .3 Additions (reductions) for securities where an allowance was previously recorded 1.7 (.7) Reduction for securities sold during the period (.8) (1.6) Allowance at the end of the period $ 4.3 $ 3.5 The following table sets forth the amortized cost and estimated fair value of the investments held by the VIEs at March 31, 2024, 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 $ 13.7 $ 13.2 Due after one year through five years 506.7 493.5 Due after five years through ten years 26.8 26.7 Total $ 547.2 $ 533.4 During the first three months of 2024, the VIEs recognized investment losses of $3.6 million which were comprised of: (i) $6.2 million of net losses from the sales of fixed maturities; (ii) $3.8 million of gains related to the liquidation of a VIE; and (iii) an increase in the allowance for credit losses of $1.2 million. Such net realized losses included gross realized losses of $6.9 million from the sale of $81.3 million of investments. During the first three months of 2023, the VIEs recognized net investment losses of $0.6 million which were comprised of: (i) $2.6 million of net losses from the sales of fixed maturities; and (ii) a decrease in the allowance for credit losses of $2.0 million. Such net realized losses included gross realized losses of $0.8 million from the sale of $11.7 million of investments. At March 31, 2024, there were no fixed maturity investments held by the VIEs in default. At March 31, 2024, the VIEs held: (i) investments (for which an allowance for credit losses has not been recorded) with a fair value of $35.7 million and gross unrealized losses not deemed to have credit losses of $0.1 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 $171.2 million and gross unrealized losses not deemed to have credit losses of $3.1 million that had been in an unrealized loss position for twelve months or greater. At December 31, 2023, the VIEs held: (i) investments (for which an allowance for credit losses has not been recorded) with a fair value of $24.8 million and gross unrealized losses of $0.1 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 $302.3 million and gross unrealized losses of $8.7 million that had been in an unrealized loss position for twelve months or greater. 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. 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, collateralized loan obligations, commercial mortgage-backed securities, agency residential mortgage-backed securities and non-agency residential 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 March 31, 2024, we held investments in various limited partnerships and hedge funds, in which we are not the primary beneficiary, totaling $490.4 million (classified as other invested assets). At March 31, 2024, we had unfunded commitments to these partnerships totaling $373.1 million. Our maximum exposure to loss on these investments is limited to the amount of our investment.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2024
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 that are not carried at fair value, 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 93 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 March 31, 2024 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 $ — $ 11,491.4 $ 147.5 $ 11,638.9 United States Treasury securities and obligations of United States government corporations and agencies — 214.4 — 214.4 States and political subdivisions — 2,703.4 — 2,703.4 Foreign governments — 82.3 — 82.3 Asset-backed securities — 1,428.3 25.6 1,453.9 Agency residential mortgage-backed securities — 687.7 — 687.7 Non-agency residential mortgage-backed securities — 1,559.8 — 1,559.8 Collateralized loan obligations — 1,145.6 — 1,145.6 Commercial mortgage-backed securities — 2,162.1 — 2,162.1 Total fixed maturities, available for sale — 21,475.0 173.1 21,648.1 Equity securities - corporate securities 45.8 — 72.6 118.4 Trading securities: Asset-backed securities — 31.2 — 31.2 Agency residential mortgage-backed securities — 3.4 — 3.4 Non-agency residential mortgage-backed securities — 57.4 — 57.4 Collateralized loan obligations — 9.1 — 9.1 Commercial mortgage-backed securities — 121.7 — 121.7 Total trading securities — 222.8 — 222.8 Investments held by variable interest entities - corporate securities — 533.4 — 533.4 Other invested assets: Derivatives — 355.0 — 355.0 Residual tranches — 2.6 52.2 54.8 Total other invested assets — 357.6 52.2 409.8 Market risk benefit asset — — 84.1 84.1 Assets held in separate accounts — 3.3 — 3.3 Total assets carried at fair value by category $ 45.8 $ 22,592.1 $ 382.0 $ 23,019.9 Liabilities: Market risk benefit liability $ — $ — $ 3.8 $ 3.8 Embedded derivatives associated with fixed indexed annuity products — — 1,426.8 1,426.8 Total liabilities carried at fair value by category $ — $ — $ 1,430.6 $ 1,430.6 The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2023 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 $ — $ 11,678.2 $ 159.3 $ 11,837.5 United States Treasury securities and obligations of United States government corporations and agencies — 194.4 — 194.4 States and political subdivisions — 2,566.7 — 2,566.7 Foreign governments — 83.1 — 83.1 Asset-backed securities — 1,346.9 25.5 1,372.4 Agency residential mortgage-backed securities — 648.0 — 648.0 Non-agency residential mortgage-backed securities — 1,553.2 — 1,553.2 Collateralized loan obligations — 1,032.8 — 1,032.8 Commercial mortgage-backed securities — 2,205.0 13.1 2,218.1 Total fixed maturities, available for sale — 21,308.3 197.9 21,506.2 Equity securities - corporate securities 24.2 — 72.7 96.9 Trading securities: Asset-backed securities — 32.8 — 32.8 Agency residential mortgage-backed securities — 3.5 — 3.5 Non-agency residential mortgage-backed securities — 58.5 — 58.5 Collateralized loan obligations — 9.0 — 9.0 Commercial mortgage-backed securities — 118.9 — 118.9 Total trading securities — 222.7 — 222.7 Investments held by variable interest entities - corporate securities — 768.6 — 768.6 Other invested assets: Derivatives — 239.2 — 239.2 Residual tranches — 7.5 31.5 39.0 Total other invested assets — 246.7 31.5 278.2 Market risk benefit asset — — 75.4 75.4 Assets held in separate accounts — 3.1 — 3.1 Total assets carried at fair value by category $ 24.2 $ 22,549.4 $ 377.5 $ 22,951.1 Liabilities: Market risk benefit liability $ — $ — $ 7.4 $ 7.4 Embedded derivatives associated with fixed indexed annuity products — — 1,376.7 1,376.7 Total liabilities carried at fair value by category $ — $ — $ 1,384.1 $ 1,384.1 The fair value of our financial instruments not carried at fair value on a recurring basis are as follows (dollars in millions): March 31, 2024 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 $ — $ — $ 1,930.8 $ 1,930.8 $ 2,087.1 Policy loans — — 130.3 130.3 130.3 Other invested assets: Company-owned life insurance — 305.2 — 305.2 305.2 Cash and cash equivalents: Unrestricted 566.3 — — 566.3 566.3 Held by variable interest entities 83.5 — — 83.5 83.5 Liabilities: Policyholder account balances — — 15,736.7 15,736.7 15,736.7 Future policy benefits — — (218.4) (218.4) (218.4) Investment borrowings — 2,189.8 — 2,189.8 2,189.1 Borrowings related to variable interest entities — 564.3 — 564.3 565.5 Notes payable – direct corporate obligations — 1,115.8 — 1,115.8 1,141.0 December 31, 2023 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 $ — $ — $ 1,926.9 $ 1,926.9 $ 2,064.1 Policy loans — — 128.5 128.5 128.5 Other invested assets: Company-owned life insurance — 303.0 — 303.0 303.0 Cash and cash equivalents: Unrestricted 774.5 — — 774.5 774.5 Held by variable interest entities 114.5 — — 114.5 114.5 Liabilities: Policyholder account balances — — 15,667.8 15,667.8 15,667.8 Future policy benefits — — (274.9) (274.9) (274.9) Investment borrowings — 2,190.2 — 2,190.2 2,189.3 Borrowings related to variable interest entities — 814.8 — 814.8 820.8 Notes payable – direct corporate obligations — 1,097.3 — 1,097.3 1,140.5 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 three months ended March 31, 2024 (dollars in millions): March 31, 2024 Beginning balance as of December 31, 2023 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 Ending balance as of March 31, 2024 Amount of total gains (losses) for the three months ended March 31, 2024 included in our net income relating to assets still held as of the reporting date Amount of total gains (losses) for the three months ended March 31, 2024 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 $ 159.3 $ 6.7 $ 4.4 $ (5.9) $ — $ (17.0) $ 147.5 $ 4.4 $ (6.7) Asset-backed securities 25.5 (.2) — .3 — — 25.6 — .2 Commercial mortgage-backed securities 13.1 — — — — (13.1) — — — Total fixed maturities, available for sale 197.9 6.5 4.4 (5.6) — (30.1) 173.1 4.4 (6.5) Equity securities - corporate securities 72.7 — (.1) — — — 72.6 (.1) — Other invested assets - residual tranches 31.5 7.9 6.4 — 6.4 — 52.2 6.4 — _________ (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 three months ended March 31, 2024 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 6.8 $ (.1) $ — $ — $ 6.7 Asset-backed securities — (.2) — — (.2) Total fixed maturities, available for sale 6.8 (.3) — — 6.5 Other invested assets - residual tranches 9.2 (1.3) — — 7.9 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 three months ended March 31, 2023 (dollars in millions): March 31, 2023 Beginning balance as of December 31, 2022 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 March 31, 2023 Amount of total gains (losses) for the three months ended March 31, 2023 included in our net income relating to assets still held as of the reporting date Amount of total gains (losses) for the three months ended March 31, 2023 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 $ 127.8 $ (.5) $ .1 $ .9 $ 5.9 $ (6.4) $ 127.8 $ .1 $ .1 Asset-backed securities 57.0 (5.1) (.2) (.2) — (10.4) 41.1 — (.5) Non-agency residential mortgage-backed securities 56.2 (.2) — 2.3 — (24.5) 33.8 — 2.4 Collateralized loan obligations 3.4 — — — — (3.4) — — — Commercial mortgage-backed securities 14.5 — — (.7) — — 13.8 — (.7) Total fixed maturities, available for sale 258.9 (5.8) (.1) 2.3 5.9 (44.7) 216.5 .1 1.3 Equity securities - corporate securities 75.7 — (.7) — — — 75.0 (.7) — Trading securities - non-agency residential mortgage-backed securities .5 — — — — — .5 — — Other invested assets - residual tranches 18.3 .5 .4 — — — 19.2 .4 — ____________ (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 three months ended March 31, 2023 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ .9 $ (1.4) $ — $ — $ (.5) Asset-backed securities 2.3 (7.4) — — (5.1) Non-agency residential mortgage-backed securities — (.2) — — (.2) Total fixed maturities, available for sale 3.2 (9.0) — — (5.8) Other invested assets - residual tranches .7 (.2) — — .5 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 March 31, 2024, 72 percent of our Level 3 fixed maturities, available for sale, were investment grade and 85 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 in policyholder account balances and future policy benefits as presented in the note to the consolidated financial statements entitled "Accounting for Derivatives") 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): Three months ended March 31, 2024 2023 Balance at beginning of the period $ 1,376.7 $ 1,297.0 Premiums less benefits (17.8) (14.0) Change in fair value, net 67.9 64.9 Balance at end of the period $ 1,426.8 $ 1,347.9 The change in fair value, net for each period in our embedded derivatives is included in the insurance policy benefits line item 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 March 31, 2024 (dollars in millions): Fair value at March 31, 2024 Valuation techniques Unobservable inputs Range (weighted average) (a) Assets: Corporate securities (b) $ 2.5 Recovery method Percent of recovery expected (25.00%) Corporate securities (c) 1.5 Unadjusted purchase price Not applicable Not applicable Asset-backed securities (d) 8.3 Discounted cash flow analysis Discount margins (2.28%) Equity securities (e) 63.3 Market comparables EBITDA multiples 11.5X Equity securities (f) .1 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Equity securities (g) 9.2 Unadjusted purchase price Not applicable Not applicable Other assets categorized as Level 3 (h) 213.0 Unadjusted third-party price source Not applicable Not applicable Market risk benefit asset (i) 84.1 Discounted cash flow analysis Surrender rates 1.42% - 15.25% (4.28%) Utilization rates 5.92% - 47.62% (24.88%) Total 382.0 Liabilities: Market risk benefit liability (i) 3.8 Discounted cash flow analysis Surrender rates 1.42% - 15.25% (4.28%) Utilization rates 5.92% - 47.62% (24.88%) Embedded derivatives related to fixed indexed annuity products (j) 1,426.8 Discounted projected embedded derivatives Projected portfolio yields 4.32% - 4.92% (4.57%) Discount rates 4.07% - 5.74% (4.72%) Surrender rates 1.42% - 23.70% (6.92%) ________________________________ (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 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. (c) Corporate securities - For these assets, there were no adjustments to the purchase price. (d) 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. (e) 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. (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. (i) Market risk benefits – Many of our fixed indexed annuity products include a GLWB that is considered a MRB. The calculation of the value of MRBs is based on significant unobservable inputs including assumptions related to surrenders and utilization of policy benefits. These assumptions are based on actuarial estimates and past experience. Increases in assumed surrender rates would generally increase the value of a MRB asset or decrease the value of a MRB liability (with decreases in assumed surrender rates having the opposite impacts). Increases in utilization rates would generally decrease the value of a MRB asset or increase the value of a MRB liability (with decreases in utilization rates having the opposite impacts). (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 projected portfolio yields in isolation would have resulted in a higher (lower) fair value measurement. The discount rate is based on risk free rates (U.S. Treasury rates for similar durations) adjusted for our non-performance risk and risk margins for non-capital market inputs. Increases (decreases) in the discount rates would have resulted in a lower (higher) fair value measurement. Assumed surrender rates are used to project how long the contracts remain in force. Generally, the longer the contracts are assumed to be in force the higher the fair value of the embedded derivative. The embedded derivatives related to fixed indexed annuity products are classified in policyholder account balances and future policy benefits as presented in the note to the consolidated financial statements entitled "Accounting for Derivatives". 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, 2023 (dollars in millions): Fair value at December 31, 2023 Valuation techniques Unobservable inputs Range (weighted average) (a) Assets: Corporate securities (b) $ 2.9 Discounted cash flow analysis Discount margins (2.22%) Corporate securities (c) 2.5 Recovery method Percent of recovery expected (25.00%) Corporate securities (d) 1.5 Unadjusted purchase price Not applicable Not applicable Asset-backed securities (e) 8.6 Discounted cash flow analysis Discount margins (2.24%) Equity securities (f) 63.4 Market comparables EBITDA multiples 11.3X Equity securities (g) .1 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Equity securities (h) 9.2 Unadjusted purchase price Not applicable Not applicable Other assets categorized as Level 3 (i) 213.9 Unadjusted third-party price source Not applicable Not applicable Market risk benefit asset (j) 75.4 Discounted cash flow analysis Surrender rates 1.42% - 15.25% (4.28%) Utilization rates 5.92% - 47.62% (24.88%) Total 377.5 Liabilities: Market risk benefit liability (j) 7.4 Discounted cash flow analysis Surrender rates 1.42% - 15.25% (4.28%) Utilization rates 5.92% - 47.62% (24.88%) Embedded derivatives related to fixed indexed annuity products (k) 1,376.7 Discounted projected embedded derivatives Projected portfolio yields 4.32% - 4.92% (4.57%) Discount rates 3.85% - 5.76% (4.41%) Surrender rates 1.42% - 23.70% (6.92%) ________________________________ (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 measur

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 112.3	$ (0.8)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Michael E. Mead [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the first quarter of 2024, one officer (as defined in Rule 16a-1(f) of the Exchange Act) (the "Section 16 officers") of the Company adopted a Rule 10b5-1 trading arrangement (as defined in Item 408(a) of Regulation S-K) for the sale of the Company’s common stock. The following summarizes the material terms of such Rule 10b5-1 trading arrangement, which is intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act and the Company’s policies regarding transactions in Company securities: Name and title of officer Date of trading arrangement Duration of trading arrangement (a) Aggregate shares of common stock to be sold pursuant to the trading arrangement Michael E. Mead February 26, 2024 November 28, 2024 12,703 – Chief Information Officer _________ (a) Or such earlier date that the aggregate amount of shares has been sold.
Name	Michael E. Mead
Title	–Chief Information Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	February 26, 2024
Arrangement Duration	276 days
Aggregate Available	12,703

BUSINESS AND BASIS OF PRESENT_2

BUSINESS AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [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 are unaudited and 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.
Recently Issued Accounting Standards	In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"). ASU 2023-07 is intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. Such requirements include: (i) disclosures on significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss on an annual and interim basis; (ii) disclosures of an amount for other segment items by reportable segment and a description of its composition on an annual and interim basis (the other segment items category is the difference between segment revenues less the segment expenses disclosed pursuant to the new guidance); (iii) providing all annual disclosures on a reportable segment’s profit or loss and assets currently required by FASB ASC Topic 280, Segment Reporting in interim periods; and (iv) specifying the title and position of the CODM and an explanation of how the CODM uses the reported measures to assess segment performance and make decisions about allocating resources. ASU 2023-07 is effective for annual periods beginning January 1, 2024 and interim periods beginning January 1, 2025, to be applied on a retrospective basis (with early adoption permitted). The adoption of ASU 2023-07 will expand our disclosures but will not have an impact on our financial position or results of operations. In December 2023, the FASB issued Accounting Standards Update 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 is intended to improve the effectiveness of income tax disclosures by requiring, among other things, the disclosure on an annual basis of: (i) specific categories in the rate reconciliation; and (ii) additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires disclosure (on an annual basis) of the following information about income taxes paid: (i) the amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes; and (ii) the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). ASU 2023-09 is effective for annual periods beginning January 1, 2025, to be applied prospectively with an option for retrospective application (with early adoption permitted). The adoption of ASU 2023-09 will modify our disclosures but will not have an impact on our financial position or results of operations.
Policyholder account balances	Policyholder account balances represent the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. It includes the accumulated account deposits, plus interest credited, less policyholder withdrawals and, if applicable, charges assessed. This balance also includes liabilities for the funding agreement-backed notes ("FABN"). Total liabilities for insurance products related to our fixed indexed annuities are comprised of: (i) the liability related to the host contract; and (ii) the fair market value of the embedded derivatives as summarized below (dollars in millions): March 31, December 31, Fixed indexed annuity insurance liabilities: Host contract liability $ 8,601.8 $ 8,487.0 Embedded derivatives at fair value 1,426.8 1,376.7 Total fixed indexed annuity insurance liabilities $ 10,028.6 $ 9,863.7 For presentation in the consolidated balance sheet, the total fixed indexed annuity insurance liability balance is bifurcated between: (i) policyholder account balances (which is the total of all current balances accruing to the policyholder under the terms and conditions of the policies assuming the contracts will continue in force); and (ii) the difference between the total fixed indexed annuity insurance liabilities summarized above and the policyholder account balances, which is classified as future policy benefits. These classifications are summarized below (dollars in millions): March 31, December 31, Policyholder account balances $ 10,247.1 $ 10,138.6 Future policy benefits (218.5) (274.9) Total fixed indexed annuity insurance liabilities $ 10,028.6 $ 9,863.7 When the total policyholder account balance exceeds the total fixed indexed annuity insurance liabilities, a negative future policy benefit balance will occur.
Investments	We classify our fixed maturity securities into one of two categories: (i) "available for sale" (which we carry at estimated fair value with any unrealized gain or loss, net of tax and related adjustments, recorded as a component of shareholders' equity); or (ii) "trading" (which we carry at estimated fair value with changes in such value recognized as either net investment income (classified as investment income from policyholder and other special-purpose portfolios) or investment gains (losses)). 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). We review our available for sale fixed maturity securities with unrealized losses to determine whether such impairments are the result of credit losses. We analyze various factors to make such determinations including, but not limited to: (i) actions taken by rating agencies; (ii) default by the issuer; (iii) the significance of the decline; (iv) an assessment of our intent to sell the security before recovering the security's amortized cost; (v) an economic analysis of the issuer's industry; and (vi) the financial strength, liquidity, and recoverability of the issuer. We perform a security by security review each quarter to evaluate whether a credit loss has occurred. 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 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 (loss) along with unrealized gains (losses) 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. 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. 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.
Earnings Per Share	Basic earnings per common share is computed by dividing net income (loss) 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 income 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 of deferred acquisition costs and present value of future profits, 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 net insurance liabilities for the block in each period. Net insurance liabilities for the purpose of allocating investment income to product lines are equal to: (i) policyholder account balances for annuity products; (ii) total reserves before the fair value adjustments reflected in accumulated other comprehensive income (loss), if applicable, for all other products; less (iii) amounts related to reinsured business; (iv) deferred acquisition costs; (v) the present value of future profits; and (vi) the value of unexpired options credited to insurance liabilities. Income from insurance products is the sum of the insurance product 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 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. 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 the sale of voluntary benefit life and health insurance products in the workplace 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 wholly-owned subsidiary, Optavise, LLC ("Optavise"), a national provider of year-round technology-driven employee benefits management services. 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, investment borrowings and financing arrangements; (iv) expenses related to the FABN program; and (v) certain expenses related to benefit plans that are offset by special-purpose investment income; plus (vi) the impact of annual option forfeitures related to fixed indexed annuity surrenders. 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 Federal Home Loan Bank ("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 company-owned life insurance ("COLI") and alternative investment income not allocated to product lines), net of interest expense on corporate debt and financing arrangements. 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 Optavise 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), changes in fair value of embedded derivative liabilities and MRBs, 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), changes in fair value of embedded derivative liabilities and MRBs, 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 changes in fair value of embedded derivative liabilities and MRBs 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.
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 that are not carried at fair value, 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 93 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.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Fixed Maturities for Available for Sale Securities	At March 31, 2024, 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 cost Gross unrealized gains Gross unrealized losses Allowance for credit losses Estimated fair value Corporate securities $ 13,132.7 $ 50.5 $ (1,506.6) $ (37.7) $ 11,638.9 United States Treasury securities and obligations of United States government corporations and agencies 232.8 — (18.4) — 214.4 States and political subdivisions 3,054.5 26.4 (376.9) (.6) 2,703.4 Foreign governments 94.8 .6 (12.5) (.6) 82.3 Asset-backed securities 1,546.1 3.3 (95.4) (.1) 1,453.9 Agency residential mortgage-backed securities 683.3 6.7 (2.3) — 687.7 Non-agency residential mortgage-backed securities 1,670.4 33.6 (144.2) — 1,559.8 Collateralized loan obligations 1,151.0 4.6 (10.0) — 1,145.6 Commercial mortgage-backed securities 2,385.2 1.8 (224.9) — 2,162.1 Total fixed maturities, available for sale $ 23,950.8 $ 127.5 $ (2,391.2) $ (39.0) $ 21,648.1 At December 31, 2023, 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 cost Gross unrealized gains Gross unrealized losses Allowance for credit losses Estimated fair value Corporate securities $ 13,186.9 $ 74.7 $ (1,382.4) $ (41.7) $ 11,837.5 United States Treasury securities and obligations of United States government corporations and agencies 207.6 .1 (13.3) — 194.4 States and political subdivisions 2,896.8 31.3 (360.7) (.7) 2,566.7 Foreign governments 92.7 1.2 (10.4) (.4) 83.1 Asset-backed securities 1,476.2 4.1 (107.8) (.1) 1,372.4 Agency residential mortgage-backed securities 639.0 9.5 (.5) — 648.0 Non-agency residential mortgage-backed securities 1,670.1 35.8 (152.7) — 1,553.2 Collateralized loan obligations 1,042.5 3.3 (13.0) — 1,032.8 Commercial mortgage-backed securities 2,487.4 .7 (270.0) — 2,218.1 Total fixed maturities, available for sale $ 23,699.2 $ 160.7 $ (2,310.8) $ (42.9) $ 21,506.2
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 March 31, 2024, 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 $ 324.8 $ 314.6 Due after one year through five years 2,278.8 2,175.7 Due after five years through ten years 1,529.8 1,450.2 Due after ten years 12,381.4 10,698.5 Subtotal 16,514.8 14,639.0 Structured securities 7,436.0 7,009.1 Total fixed maturities, available for sale $ 23,950.8 $ 21,648.1 Gross Unrealized Investment Losses
Schedule of Unrealized Loss on 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 March 31, 2024 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair Unrealized Fair Unrealized Fair Unrealized Corporate securities $ 508.6 $ (7.4) $ 5,339.7 $ (719.3) $ 5,848.3 $ (726.7) United States Treasury securities and obligations of United States government corporations and agencies 72.9 (3.3) 119.0 (15.1) 191.9 (18.4) States and political subdivisions 272.4 (4.0) 959.2 (166.4) 1,231.6 (170.4) Foreign governments 12.0 (.5) 18.2 (1.1) 30.2 (1.6) Asset-backed securities 110.5 (.8) 1,064.1 (93.7) 1,174.6 (94.5) Agency residential mortgage-backed securities 249.8 (1.9) 11.5 (.4) 261.3 (2.3) Non-agency residential mortgage-backed securities 117.7 (.9) 1,064.4 (143.3) 1,182.1 (144.2) Collateralized loan obligations 233.1 (1.9) 334.2 (8.1) 567.3 (10.0) Commercial mortgage-backed securities 96.3 (.6) 1,851.1 (224.3) 1,947.4 (224.9) Total fixed maturities, available for sale $ 1,673.3 $ (21.3) $ 10,761.4 $ (1,371.7) $ 12,434.7 $ (1,393.0) 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, 2023 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair Unrealized Fair Unrealized Fair Unrealized Corporate securities $ 332.0 $ (5.3) $ 5,199.0 $ (640.6) $ 5,531.0 $ (645.9) United States Treasury securities and obligations of United States government corporations and agencies 126.7 (10.2) 34.5 (3.1) 161.2 (13.3) States and political subdivisions 236.9 (3.8) 990.0 (181.2) 1,226.9 (185.0) Foreign governments 6.2 — 21.1 (2.3) 27.3 (2.3) Asset-backed securities 46.9 (.8) 1,066.8 (106.0) 1,113.7 (106.8) Agency residential mortgage-backed securities 73.4 (.4) 7.1 (.1) 80.5 (.5) Non-agency residential mortgage-backed securities 69.0 (1.3) 1,062.9 (151.4) 1,131.9 (152.7) Collateralized loan obligations 75.0 (.3) 590.9 (12.7) 665.9 (13.0) Commercial mortgage-backed securities 203.8 (2.4) 1,914.1 (267.6) 2,117.9 (270.0) Total fixed maturities, available for sale $ 1,169.9 $ (24.5) $ 10,886.4 $ (1,365.0) $ 12,056.3 $ (1,389.5)
Schedule of Changes in the Allowance for Current Expected Credit Losses	The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the three months ended March 31, 2024 (dollars in millions): Corporate securities States and political subdivisions Foreign governments Asset-backed securities Total Allowance at December 31, 2023 $ 41.7 $ .7 $ .4 $ .1 $ 42.9 Additions for securities for which credit losses were not previously recorded 2.2 (.1) .1 — 2.2 Additions (reductions) for securities where an allowance was previously recorded (6.1) — .1 — (6.0) Reduction for securities sold during the period (.1) — — — (.1) Allowance at March 31, 2024 $ 37.7 $ .6 $ .6 $ .1 $ 39.0 The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the three months ended March 31, 2023 (dollars in millions): Corporate securities States and political subdivisions Foreign governments Asset-backed securities Total Allowance at December 31, 2022 $ 54.4 $ .9 $ .4 $ .3 $ 56.0 Additions for securities for which credit losses were not previously recorded 3.0 — — — 3.0 Additions (reductions) for securities where an allowance was previously recorded .5 (.1) .1 .3 .8 Reduction for securities sold during the period (.7) — — — (.7) Allowance at March 31, 2023 $ 57.2 $ .8 $ .5 $ .6 $ 59.1 The following table summarizes changes in the allowance for credit losses related to corporate securities held by VIEs for the three months ended March 31, 2024 and 2023 (dollars in millions): Three months ended March 31, 2024 2023 Allowance at the beginning of the period $ 3.1 $ 5.5 Additions for securities for which credit losses were not previously recorded .3 .3 Additions (reductions) for securities where an allowance was previously recorded 1.7 (.7) Reduction for securities sold during the period (.8) (1.6) Allowance at the end of the period $ 4.3 $ 3.5
Schedule 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 March 31, 2024 (dollars in millions): Estimated fair Loan-to-value ratio (a) 2024 2023 2022 2021 2020 Prior Total amortized cost Mortgage loans Collateral Less than 60% $ 12.8 $ 160.7 $ 160.8 $ 96.2 $ 33.2 $ 525.5 $ 989.2 $ 877.8 $ 3,675.3 60% to less than 70% — 126.9 47.4 29.2 5.5 18.6 227.6 208.3 348.7 70% to less than 80% — 19.3 54.7 24.9 — 49.7 148.6 127.2 201.0 80% to less than 90% — — 47.8 — — 48.5 96.3 77.2 113.8 Total $ 12.8 $ 306.9 $ 310.7 $ 150.3 $ 38.7 $ 642.3 $ 1,461.7 $ 1,290.5 $ 4,338.8 ________________ (a)
Schedule of Changes in the Allowance for Current Expected Credit Losses Related to Mortgage Loans	The following table summarizes changes in the allowance for credit losses related to mortgage loans for the three months ended March 31, 2024 and 2023 (dollars in millions): Three months ended March 31, 2024 2023 Allowance at the beginning of the period $ 15.4 $ 8.0 Current period provision for expected credit losses 1.2 .4 Allowance at the end of the period $ 16.6 $ 8.4
Schedule of Realized Gain (Loss) on Investments	The following table sets forth the total investment gains (losses) for the periods indicated (dollars in millions): Three months ended March 31, 2024 2023 Realized investment gains (losses): Gross realized gains on sales of fixed maturities, available for sale $ 2.1 $ 7.3 Gross realized losses on sales of fixed maturities, available for sale (5.9) (14.4) Equity securities, net — (.2) Other, net (6.2) (7.3) Total realized investment losses (10.0) (14.6) Change in allowance for credit losses (a) 1.5 (1.5) Change in fair value of equity securities (b) .9 .4 Other changes in fair value (c) 11.6 1.1 Gain on liquidation of variable interest entity 3.8 — Other investment gains 17.8 — Total investment gains (losses) $ 7.8 $ (14.6) _________________ (a) Changes in the allowance for credit losses includes $(1.2) million and $2.0 million in the three months ended March 31, 2024 and 2023, respectively, related to investments held by variable interest entities ("VIEs"). (b) Changes in the estimated fair value of equity securities (that are still held as of the end of the respective periods) were $1.0 million and $0.3 million for the three months ended March 31, 2024 and 2023, respectively.

LIABILITIES FOR INSURANCE PRO_2

LIABILITIES FOR INSURANCE PRODUCTS (Tables)	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
Schedule of Balances and Changes in the Liability for Future Policy Benefits	The following tables summarize balances and changes in the liability for future policy benefits for traditional and limited-payment contracts for the three months ended March 31, 2024 (dollars in millions): Three months ended March 31, 2024 Supplemental health Medicare supplement Long-term care Traditional life Other annuities Present value of expected net premiums ("PVENP"), beginning of period $ 2,718.2 $ 3,009.2 $ 1,055.6 $ 2,279.6 $ — Effect of changes in discount rate assumptions, beginning of period 86.8 99.1 (7.6) 67.6 — Beginning PVENP at original discount rate 2,805.0 3,108.3 1,048.0 2,347.2 — Effect of changes in cash flow assumptions — — — — — Effect of actual variances from expected experience (15.2) (39.0) (7.9) (21.2) — Adjusted beginning of period PVENP 2,789.8 3,069.3 1,040.1 2,326.0 — Issuances 66.0 134.2 46.9 108.2 .9 Interest accrual 30.7 32.2 12.9 24.3 — Net premiums collected (86.9) (114.4) (39.5) (99.9) (.9) Ending PVENP at original discount rate 2,799.6 3,121.3 1,060.4 2,358.6 — Effect of changes in discount rate assumptions, end of period (139.1) (145.5) (11.5) (102.0) — PVENP, end of period $ 2,660.5 $ 2,975.8 $ 1,048.9 $ 2,256.6 $ — Present value of expected future policy benefits ("PVEFPB"), beginning of period $ 6,023.3 $ 3,236.6 $ 4,364.6 $ 4,694.7 $ 308.9 Effect of changes in discount rate assumptions, beginning of period 229.8 108.3 (132.8) 170.9 3.0 Beginning PVEFPB at original discount rate 6,253.1 3,344.9 4,231.8 4,865.6 311.9 Effect of changes in cash flow assumptions — — — — — Effect of actual variances from expected experience (17.7) (39.1) (12.1) (22.0) .8 Adjusted beginning of period PVEFPB 6,235.4 3,305.8 4,219.7 4,843.6 312.7 Issuances 66.0 134.2 47.0 108.2 .9 Interest accrual 72.6 34.9 56.7 52.8 3.6 Benefit payments (105.6) (117.8) (74.2) (120.7) (8.2) Ending PVEFPB at original discount rate 6,268.4 3,357.1 4,249.2 4,883.9 309.0 Effect of changes in discount rate assumptions, end of period (371.4) (158.4) 25.5 (263.8) (10.1) PVEFPB, end of period $ 5,897.0 $ 3,198.7 $ 4,274.7 $ 4,620.1 $ 298.9 Net liability for future policy benefits $ 3,236.5 $ 222.9 $ 3,225.8 $ 2,363.5 $ 298.9 Flooring impact — .8 — — — Adjusted net liability for future policy benefits 3,236.5 223.7 3,225.8 2,363.5 298.9 Related reinsurance recoverable (1.5) — (360.8) (187.3) — Net liability for future policy benefits, net of reinsurance recoverable $ 3,235.0 $ 223.7 $ 2,865.0 $ 2,176.2 $ 298.9 The following tables summarize balances and changes in the liability for future policy benefits for traditional and limited-payment contracts for the three months ended March 31, 2023 (dollars in millions): Three months ended March 31, 2023 Supplemental health Medicare supplement Long-term care Traditional life Other annuities PVENP, beginning of period $ 2,781.3 $ 2,800.6 $ 1,034.1 $ 2,175.0 $ — Effect of changes in discount rate assumptions, beginning of period 188.4 196.4 23.2 137.1 — Beginning PVENP at original discount rate 2,969.7 2,997.0 1,057.3 2,312.1 — Effect of changes in cash flow assumptions — — — — — Effect of actual variances from expected experience (17.2) 27.0 (3.4) (14.1) — Adjusted beginning of period PVENP 2,952.5 3,024.0 1,053.9 2,298.0 — Issuances 63.7 101.6 15.7 108.3 1.1 Interest accrual 32.0 30.5 12.3 23.0 — Net premiums collected (90.3) (113.4) (40.6) (101.4) (1.1) Ending PVENP at original discount rate 2,957.9 3,042.7 1,041.3 2,327.9 — Effect of changes in discount rate assumptions, end of period (120.4) (139.2) (4.6) (92.5) — PVENP, end of period $ 2,837.5 $ 2,903.5 $ 1,036.7 $ 2,235.4 $ — PVEFPB, beginning of period $ 5,886.8 $ 3,033.1 $ 4,158.1 $ 4,417.9 $ 310.9 Effect of changes in discount rate assumptions, beginning of period 483.3 212.0 28.5 336.6 15.4 Beginning PVEFPB at original discount rate 6,370.1 3,245.1 4,186.6 4,754.5 326.3 Effect of changes in cash flow assumptions — — — — — Effect of actual variances from expected experience (20.5) 32.2 (6.3) (15.2) .7 Adjusted beginning of period PVEFPB 6,349.6 3,277.3 4,180.3 4,739.3 327.0 Issuances 63.7 101.6 15.7 108.3 1.1 Interest accrual 73.8 33.2 55.5 51.0 3.7 Benefit payments (99.5) (125.6) (71.3) (115.0) (8.6) Ending PVEFPB at original discount rate 6,387.6 3,286.5 4,180.2 4,783.6 323.2 Effect of changes in discount rate assumptions, end of period (306.8) (150.0) 86.4 (223.0) (6.9) PVEFPB, end of period $ 6,080.8 $ 3,136.5 $ 4,266.6 $ 4,560.6 $ 316.3 Net liability for future policy benefits $ 3,243.3 $ 233.0 $ 3,229.9 $ 2,325.2 $ 316.3 Flooring impact — .4 — — — Adjusted net liability for future policy benefits 3,243.3 233.4 3,229.9 2,325.2 316.3 Related reinsurance recoverable (2.4) — (357.5) (201.1) — Net liability for future policy benefits, net of reinsurance recoverable $ 3,240.9 $ 233.4 $ 2,872.4 $ 2,124.1 $ 316.3 The following table reconciles the net liability for future policy benefits to the amount presented in the consolidated balance sheet (dollars in millions): March 31, 2024 March 31, 2023 Balances included in the future policy benefits rollforwards: Supplemental health $ 3,236.5 $ 3,243.3 Medicare supplement 223.7 233.4 Long-term care 3,225.8 3,229.9 Traditional life 2,363.5 2,325.2 Other annuities 298.9 316.3 Reserves excluded from rollforward (a) 2,488.1 2,593.3 Deferred profit liability 64.7 57.7 Amount of reserves above (below) policyholder account balances (b) (195.7) (410.5) Future loss reserves (c) 31.0 34.7 Future policy benefits $ 11,736.5 $ 11,623.3 _______________ (a) Primarily comprised of blocks of business that are 100% ceded. (b) Such amount represents the difference between: (i) the total insurance liabilities for our fixed indexed annuities (including the host contract and the related embedded derivative); and (ii) the policyholder account balances for these products. The accounting requirement to bifurcate the embedded derivative and value it at the current estimated fair value results in this amount. (c) In certain instances for interest-sensitive products, the total insurance liabilities for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. In these situations, accounting standards require that an additional liability (the "future loss reserve") be recognized by an amount necessary to sufficiently offset the losses that would be recognized in later years. The following table summarizes the amount of revenue and interest related to traditional and limited-payment contracts recognized in the consolidated statement of operations (dollars in millions): Gross premiums (a) Interest accretion (b) Three months ended Three months ended March 31, March 31, 2024 2023 2024 2023 Other annuities $ 1.0 $ 1.3 $ 3.6 $ 3.7 Supplemental health 175.2 179.4 41.9 41.8 Medicare supplement 156.8 159.2 2.7 2.7 Long-term care 85.0 82.7 43.8 43.2 Traditional life 178.9 178.8 28.5 28.0 Total $ 596.9 $ 601.4 $ 120.5 $ 119.4 _____________________ (a) Such amounts are included in insurance policy income in the consolidated statement of operations. (b) Such amounts are included in insurance policy benefits in the consolidated statement of operations. The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses for traditional and limited-payment contracts (dollars in millions): March 31, 2024 March 31, 2023 Undiscounted Discounted (a) Undiscounted Discounted (a) Other annuity Expected future gross premiums $ — $ — $ — $ — Expected future benefits and expenses 370.6 298.9 396.9 316.3 Supplemental health Expected future gross premiums 8,932.2 5,527.6 8,964.4 5,605.7 Expected future benefits and expenses 10,812.6 5,897.0 11,040.9 6,080.8 Medicare supplement Expected future gross premiums 5,744.3 4,024.7 5,645.2 4,031.9 Expected future benefits and expenses 4,601.3 3,198.7 4,417.8 3,136.5 Long-term care Expected future gross premiums 3,330.8 2,340.7 2,954.3 2,152.7 Expected future benefits and expenses 7,724.0 4,274.7 7,445.7 4,266.6 Traditional life Expected future gross premiums 5,642.0 4,048.0 5,435.0 3,953.3 Expected future benefits and expenses 7,574.2 4,620.1 7,382.8 4,560.6 _____________________ (a) Calculated at the discount rates at period end. The following table provides the weighted average durations (under locked-in rates) of the liability for future policy benefits in years: March 31, March 31, Other annuity 9.6 9.7 Supplemental health 11.3 11.8 Medicare supplement 6.4 6.1 Long-term care 10.6 10.5 Traditional life 10.4 10.1 The following table provides the weighted average interest rates for the liability for future policy benefits: March 31, March 31, Other annuities Interest accretion rate 4.82 % 4.76 % Current discount rate 5.37 % 5.17 % Supplemental health Interest accretion rate 5.00 % 5.04 % Current discount rate 5.35 % 5.14 % Medicare supplement Interest accretion rate 4.31 % 4.26 % Current discount rate 5.24 % 4.94 % Long-term care Interest accretion rate 5.67 % 5.67 % Current discount rate 5.39 % 5.18 % Traditional life Interest accretion rate 4.77 % 4.77 % Current discount rate 5.37 % 5.15 %
Schedule of Changes in Market Risk Benefits	The following table presents the balance of and changes in MRBs associated with our fixed indexed annuities (dollars in millions): Three months ended March 31, 2024 2023 Net liability (asset), beginning of period $ (68.0) $ (54.0) Effect of changes in the instrument-specific credit risk, beginning of period 4.8 12.2 Balance, beginning of period, before effect of changes in the instrument-specific credit risk (63.2) (41.8) Issuances (.1) .1 Interest accrual 5.1 5.2 Attributed fees collected — — Benefit payments — — Effect of changes in interest rates (13.7) 12.3 Effect of changes in equity markets (5.0) 5.3 Effect of changes in equity index volatility (1.2) (7.4) Actual policyholder behavior different from expected behavior 1.9 .6 Effect of changes in future expected policyholder behavior - other — — Effect of changes in future expected policyholder behavior - risk margin — — Effect of changes in assumptions (.8) (1.4) Net liability (asset), end of period, before effect of changes in the instrument-specific credit risk (77.0) (27.1) Effect of changes in the instrument-specific credit risk, end of period (3.3) (13.1) Net liability (asset), end of period (80.3) (40.2) Reinsurance recoverable, end of period — — Net liability (asset), end of period, net of reinsurance $ (80.3) $ (40.2) Balance reported as an asset $ 84.1 $ 57.8 Balance reported as a liability 3.8 17.6 Net liability (asset) $ (80.3) $ (40.2) Net amount at risk $ 46.2 $ 58.9 Weighted average attained age of contract holders 69 68
Schedule of Fixed Indexed Annuity Insurance Liabilities	Total liabilities for insurance products related to our fixed indexed annuities are comprised of: (i) the liability related to the host contract; and (ii) the fair market value of the embedded derivatives as summarized below (dollars in millions): March 31, December 31, Fixed indexed annuity insurance liabilities: Host contract liability $ 8,601.8 $ 8,487.0 Embedded derivatives at fair value 1,426.8 1,376.7 Total fixed indexed annuity insurance liabilities $ 10,028.6 $ 9,863.7 For presentation in the consolidated balance sheet, the total fixed indexed annuity insurance liability balance is bifurcated between: (i) policyholder account balances (which is the total of all current balances accruing to the policyholder under the terms and conditions of the policies assuming the contracts will continue in force); and (ii) the difference between the total fixed indexed annuity insurance liabilities summarized above and the policyholder account balances, which is classified as future policy benefits. These classifications are summarized below (dollars in millions): March 31, December 31, Policyholder account balances $ 10,247.1 $ 10,138.6 Future policy benefits (218.5) (274.9) Total fixed indexed annuity insurance liabilities $ 10,028.6 $ 9,863.7
Schedule of Policyholder Account Balance	The following tables present the balances of and changes in the liability for policyholder account balances (dollars in millions): Three months ended March 31, 2024 Fixed indexed annuities Fixed interest annuities Other annuities Interest-sensitive life (b) Funding agreements Other (a) Balance, beginning of period excluding contracts 100% ceded $ 9,999.2 $ 1,636.4 $ 113.1 $ 1,255.2 $ 1,411.0 $ 381.0 Issuances (funds collected from new business) 345.4 45.1 — 9.7 — — Premiums received (premiums collected from inforce business) .5 1.0 5.7 52.4 — 65.7 Policy charges (6.5) (.3) — (48.2) — — Surrenders and withdrawals (232.2) (52.8) (8.7) (8.1) (9.9) (74.5) Benefit payments (74.4) (30.2) (1.4) (5.4) — — Interest credited 68.9 11.4 .5 15.2 7.2 .7 Other 11.8 — (.1) (.1) — — Balance, end of period excluding contracts 100% ceded 10,112.7 1,610.6 109.1 1,270.7 1,408.3 372.9 Balance, end of period for contracts 100% ceded 134.4 579.3 25.5 102.9 — 10.3 Balance, end of period $ 10,247.1 $ 2,189.9 $ 134.6 $ 1,373.6 $ 1,408.3 $ 383.2 Balance, end of period, reinsurance ceded (134.4) (579.3) (25.5) (121.0) — (24.0) Balance, end of period, net of reinsurance $ 10,112.7 $ 1,610.6 $ 109.1 $ 1,252.6 $ 1,408.3 $ 359.2 Weighted average crediting rate 1.9 % 2.8 % 2.4 % 4.3 % 2.0 % 0.8 % Cash surrender value, net of reinsurance $ 9,434.2 $ 1,582.1 $ 109.1 $ 1,027.7 $ — $ 359.2 _______________ (a) Predominantly consists of retained asset accounts associated with our traditional life and supplemental health blocks. (b) The amount of insurance policy benefit expense resulting from death claims that we would incur in excess of the policyholder account balance (net amount at risk) for interest-sensitive life contracts was $28,672.9 million at the balance sheet date. Three months ended March 31, 2023 Fixed indexed annuities Fixed interest annuities Other annuities Interest-sensitive life (b) Funding agreements Other (a) Balance, beginning of period excluding contracts 100% ceded $ 9,490.4 $ 1,663.1 $ 127.1 $ 1,209.6 $ 1,410.8 $ 395.5 Issuances (funds collected from new business) 323.3 45.3 — 9.5 — — Premiums received (premiums collected from inforce business) .4 .7 7.5 50.3 — 63.0 Policy charges (4.0) (.2) — (46.1) — — Surrenders and withdrawals (178.2) (43.3) (10.5) (8.2) (9.9) (72.6) Benefit payments (59.2) (27.7) (1.7) (6.0) — — Interest credited 6.1 11.3 .6 8.1 7.2 .7 Other 5.5 .1 (.2) — — — Balance, end of period excluding contracts 100% ceded 9,584.3 1,649.3 122.8 1,217.2 1,408.1 386.6 Balance, end of period for contracts 100% ceded 154.4 632.6 26.3 110.7 — 10.6 Balance, end of period $ 9,738.7 $ 2,281.9 $ 149.1 $ 1,327.9 $ 1,408.1 $ 397.2 Balance, end of period, reinsurance ceded (154.4) (632.6) (26.3) (130.5) — (24.8) Balance, end of period, net of reinsurance $ 9,584.3 $ 1,649.3 $ 122.8 $ 1,197.4 $ 1,408.1 $ 372.4 Weighted average crediting rate 1.6 % 2.7 % 1.9 % 3.1 % 2.0 % 0.6 % Cash surrender value, net of reinsurance $ 8,932.4 $ 1,631.5 $ 122.8 $ 977.1 $ — $ 372.4 _________________ (a) Predominantly consists of retained asset accounts associated with our traditional life and supplemental health blocks. (b) The amount of insurance policy benefit expense resulting from death claims that we would incur in excess of the policyholder account balance (net amount at risk) for interest-sensitive life contracts was $26,865.3 million at the balance sheet date. The following table reconciles the liability for policyholder account balances to the amount presented in the consolidated balance sheet (dollars in millions): March 31, 2024 March 31, 2023 Amounts included in the liability for policyholder account balances rollforwards: Fixed indexed annuities $ 10,247.1 $ 9,738.7 Fixed interest annuities 2,189.9 2,281.9 Other annuities 134.6 149.1 Interest-sensitive life 1,373.6 1,327.9 Funding agreements 1,408.3 1,408.1 Other 383.2 397.2 Total $ 15,736.7 $ 15,302.9
Schedule of Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The following tables present the account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums (dollars in millions): March 31, 2024 Range of guaranteed minimum crediting rates (a) At guaranteed minimum 1-50 basis points above 51-150 basis points above Greater than 150 basis points above Total Fixed interest annuities 0.00%-2.99% $ 105.2 $ 211.9 $ 233.0 $ 100.9 $ 651.0 3.00%-4.99% 1,380.6 49.6 15.9 5.2 1,451.3 5.00% and greater 87.6 — — — 87.6 Subtotal 1,573.4 261.5 248.9 106.1 2,189.9 Other annuities 0.00%-2.99% 31.6 24.1 — — 55.7 3.00%-4.99% 44.4 — — — 44.4 5.00% and greater 34.5 — — — 34.5 Subtotal 110.5 24.1 — — 134.6 Interest-sensitive life 0.00%-2.99% 17.6 — 5.4 667.2 690.2 3.00%-4.99% 444.2 49.7 167.1 .5 661.5 5.00% and greater 21.4 .5 — — 21.9 Subtotal 483.2 50.2 172.5 667.7 1,373.6 Other 0.00%-2.99% 17.1 343.0 — — 360.1 3.00%-4.99% 22.9 — — — 22.9 5.00% and greater .2 — — — .2 Subtotal 40.2 343.0 — — 383.2 Total 0.00%-2.99% 171.5 579.0 238.4 768.1 1,757.0 3.00%-4.99% 1,892.1 99.3 183.0 5.7 2,180.1 5.00% and greater 143.7 .5 — — 144.2 Total policyholder account balances, excluding fixed indexed annuities $ 2,207.3 $ 678.8 $ 421.4 $ 773.8 4,081.3 Fixed indexed annuity account balances 10,247.1 Funding agreements 1,408.3 Total policyholder account balances $ 15,736.7 ____________________ (a) Excludes the account balances related to: (i) fixed indexed annuity contracts which do not have a minimum crediting rate since returns are based on an index; and (ii) funding agreements which have a fixed crediting rate. March 31, 2023 Range of guaranteed minimum crediting rates (a) At guaranteed minimum 1-50 basis points above 51-150 basis points above Greater than 150 basis points above Total Fixed interest annuities 0.00%-2.99% $ 144.9 $ 291.7 $ 78.3 $ 76.9 $ 591.8 3.00%-4.99% 1,572.0 27.7 .1 — 1,599.8 5.00% and greater 90.3 — — — 90.3 Subtotal 1,807.2 319.4 78.4 76.9 2,281.9 Other annuities 0.00%-2.99% 43.6 29.5 — — 73.1 3.00%-4.99% 65.3 — — — 65.3 5.00% and greater 10.7 — — — 10.7 Subtotal 119.6 29.5 — — 149.1 Interest-sensitive life 0.00%-2.99% 66.5 225.8 226.3 125.0 643.6 3.00%-4.99% 461.5 51.7 148.4 .3 661.9 5.00% and greater 21.9 .5 — — 22.4 Subtotal 549.9 278.0 374.7 125.3 1,327.9 Other 0.00%-2.99% 17.8 355.4 — — 373.2 3.00%-4.99% 23.6 — — — 23.6 5.00% and greater .4 — — — .4 Subtotal 41.8 355.4 — — 397.2 Total 0.00%-2.99% 272.8 902.4 304.6 201.9 1,681.7 3.00%-4.99% 2,122.4 79.4 148.5 .3 2,350.6 5.00% and greater 123.3 .5 — — 123.8 Total policyholder account balances, excluding fixed indexed annuities $ 2,518.5 $ 982.3 $ 453.1 $ 202.2 4,156.1 Fixed indexed annuity account balances 9,738.7 Funding agreements 1,408.1 Total policyholder account balances $ 15,302.9 ____________________ (a) Excludes the account balances related to: (i) fixed indexed annuity contracts which do not have a minimum crediting rate since returns are based on an index; and (ii) funding agreements which have a fixed crediting rate.

DEFERRED ACQUISITION COSTS, P_2

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Deferred Charges, Insurers [Abstract]
Schedule of Deferred Policy Acquisition Costs	Changes in deferred acquisition costs were as follows (dollars in millions): Three months ended March 31, 2024 Fixed indexed annuities Fixed interest annuities Supplemental health Medicare supplement Long-term care Interest-sensitive life Traditional life Funding agreements Total Beginning of period $ 407.6 $ 27.0 $ 408.0 $ 157.5 $ 140.3 $ 234.5 $ 471.9 $ 4.5 $ 1,851.3 Capitalizations 22.3 3.0 15.0 6.3 5.2 9.3 29.5 — 90.6 Amortization expense (13.4) (1.1) (8.4) (6.7) (3.7) (3.8) (14.3) (.4) (51.8) End of period $ 416.5 $ 28.9 $ 414.6 $ 157.1 $ 141.8 $ 240.0 $ 487.1 $ 4.1 $ 1,890.1 Three months ended March 31, 2023 Fixed indexed annuities Fixed interest annuities Supplemental health Medicare supplement Long-term care Interest-sensitive life Traditional life Funding agreements Total Beginning of period $ 365.6 $ 19.6 $ 378.8 $ 161.2 $ 137.9 $ 212.2 $ 409.1 $ 6.0 $ 1,690.4 Capitalizations 21.6 2.5 14.4 5.8 3.4 8.3 28.2 — 84.2 Amortization expense (11.1) (.9) (7.6) (7.2) (3.8) (3.5) (12.2) (.3) (46.6) End of period $ 376.1 $ 21.2 $ 385.6 $ 159.8 $ 137.5 $ 217.0 $ 425.1 $ 5.7 $ 1,728.0
Schedule of Present Value of Future Insurance Profits	Changes in the present value of future profits were as follows (dollars in millions): Three months ended March 31, 2024 Supplemental health Medicare supplement Long-term care Traditional life Fixed indexed annuities Fixed interest annuities Total Beginning of period $ 141.0 $ 20.6 $ 5.2 $ 12.9 $ .7 $ .3 $ 180.7 Amortization expense (3.1) (1.4) (.2) (.4) (.1) — (5.2) End of period $ 137.9 $ 19.2 $ 5.0 $ 12.5 $ .6 $ .3 $ 175.5 Three months ended March 31, 2023 Supplemental health Medicare supplement Long-term care Traditional life Fixed indexed annuities Fixed interest annuities Total Beginning of period $ 154.0 $ 27.5 $ 6.2 $ 14.8 $ .8 $ .4 $ 203.7 Amortization expense (3.3) (1.9) (.3) (.5) (.1) — (6.1) End of period $ 150.7 $ 25.6 $ 5.9 $ 14.3 $ .7 $ .4 $ 197.6
Schedule of Deferred Sale Inducement Cost	Changes in sales inducements were as follows (dollars in millions): Three months ended March 31, 2024 Fixed indexed annuities Fixed interest annuities Total Beginning of period $ 88.5 $ 4.6 $ 93.1 Capitalizations 12.3 .3 12.6 Amortization expense (3.3) (.2) (3.5) End of period $ 97.5 $ 4.7 $ 102.2 Three months ended March 31, 2023 Fixed indexed annuities Fixed interest annuities Total Beginning of period $ 76.0 $ 4.5 $ 80.5 Capitalizations 5.4 .2 5.6 Amortization expense (2.6) (.2) (2.8) End of period $ 78.8 $ 4.5 $ 83.3

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	A reconciliation of net income (loss) and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands): Three months ended March 31, 2024 2023 Net income (loss) for basic and diluted earnings per share $ 112.3 $ (.8) Shares: Weighted average shares outstanding for basic earnings per share 108,964 114,545 Effect of dilutive securities on weighted average shares: Amounts related to employee benefit plans 1,881 — Weighted average shares outstanding for diluted earnings per share 110,845 114,545

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Operating Information by Segment	Operating information by segment is as follows (dollars in millions): Three months ended March 31, 2024 2023 Revenues: Annuity: Insurance policy income $ 7.3 $ 5.1 Net investment income 134.5 125.4 Total annuity revenues 141.8 130.5 Health: Insurance policy income 398.4 401.4 Net investment income 74.3 74.0 Total health revenues 472.7 475.4 Life: Insurance policy income 222.7 219.0 Net investment income 36.5 36.3 Total life revenues 259.2 255.3 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) 139.7 18.6 Investment income not allocated to product lines 71.6 67.8 Fee revenue and other income: Fee revenue 50.5 51.3 Amounts netted in expenses not allocated to product lines 1.2 1.6 Total segment revenues $ 1,136.7 $ 1,000.5 (continued on next page) (continued from previous page) Three months ended March 31, 2024 2023 Expenses: Annuity: Insurance policy benefits $ 11.3 $ 8.7 Interest credited 58.3 48.1 Amortization and non-deferred commissions 20.2 16.4 Total annuity expenses 89.8 73.2 Health: Insurance policy benefits 308.5 318.1 Amortization and non-deferred commissions 41.2 40.8 Total health expenses 349.7 358.9 Life: Insurance policy benefits 144.0 147.2 Interest credited 12.5 12.1 Amortization, non-deferred commissions and advertising expense 48.1 48.6 Total life expenses 204.6 207.9 Allocated expenses 161.6 157.5 Expenses not allocated to product lines 18.0 19.9 Market value changes of options credited to fixed indexed annuity and life policyholders 139.7 18.6 Amounts netted in investment income not allocated to product lines: Interest expense 48.3 37.4 Interest credited 7.2 7.2 Impact of annual option forfeitures related to fixed indexed annuity surrenders (6.2) — Amortization .4 .4 Other expenses 9.6 7.3 Expenses netted in fee revenue: Commissions and other operating expenses 39.2 35.8 Total segment expenses 1,061.9 924.1 Pre-tax measure of profitability: Annuity margin 52.0 57.3 Health margin 123.0 116.5 Life margin 54.6 47.4 Total insurance product margin 229.6 221.2 Allocated expenses (161.6) (157.5) Income from insurance products 68.0 63.7 Fee income 11.3 15.5 Investment income not allocated to product lines 12.3 15.5 Expenses not allocated to product lines (16.8) (18.3) Operating earnings before taxes 74.8 76.4 Income tax expense on operating income 17.3 17.8 Net operating income $ 57.5 $ 58.6
Schedule of Reconciliation of Segment Revenues and Expenses to Consolidated Revenues and Expenses and Net Income (Loss)	A reconciliation of segment revenues and expenses to consolidated revenues and expenses and net income (loss) is as follows (dollars in millions): Three months ended March 31, 2024 2023 Total segment revenues $ 1,136.7 $ 1,000.5 Total investment gains (losses) 7.8 (14.6) Revenues related to earnings attributable to VIEs 12.0 20.1 Consolidated revenues 1,156.5 1,006.0 Total segment expenses 1,061.9 924.1 Insurance policy benefits - fair value changes in embedded derivative liabilities (64.0) 65.1 Expenses attributable to VIEs 12.4 17.8 Consolidated expenses 1,010.3 1,007.0 Income (loss) before tax 146.2 (1.0) Income tax expense (benefit) 33.9 (.2) Net income (loss) $ 112.3 $ (.8)

ACCOUNTING FOR DERIVATIVES (Tab

ACCOUNTING FOR DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, December 31, 2023 Assets: Other invested assets: Fixed indexed call options $ 355.0 $ 239.2 Reinsurance receivables (17.2) (17.5) Total assets $ 337.8 $ 221.7 Liabilities: Embedded derivatives related to fixed indexed annuities at fair value: Policyholder account balances $ 1,645.3 $ 1,651.6 Future policy benefits (218.5) (274.9) Total liabilities $ 1,426.8 $ 1,376.7
Schedule Pre-Tax Gains (Losses) Recognized in Net Income for Derivative Instruments	The following table provides the pre-tax impact recognized in net income for derivative instruments, which are not designated as hedges for the periods indicated (dollars in millions): Three months ended March 31, 2024 2023 Net investment income from policyholder and other special-purpose portfolios: Fixed indexed call options $ 140.2 $ 18.6 Total investment gains: Embedded derivative related to modified coinsurance agreement .3 1.4 Total revenues from derivative instruments, not designated as hedges 140.5 20.0 Insurance policy benefits: Embedded derivatives related to fixed indexed annuities — 64.9 Net pre-tax impact $ 140.5 $ (44.9)
Schedule of Derivatives with Master Netting Arrangements	The following table summarizes information related to derivatives with master netting arrangements or collateral as of March 31, 2024 and December 31, 2023 (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 Non-cash collateral Cash collateral received Net amount March 31, 2024: Fixed indexed call options $ 355.0 $ — $ 355.0 $ 76.0 $ — $ 279.0 December 31, 2023: Fixed indexed call options 239.2 — 239.2 37.0 — 202.2

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) are as follows (dollars in millions): Three months ended March 31, 2024 2023 Current tax expense $ 17.3 $ 14.0 Deferred tax expense (benefit) 16.6 (14.2) Total income tax expense (benefit) $ 33.9 $ (.2)
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the U.S. statutory corporate tax rate to the estimated annual effective rate, reflected in the consolidated statement of operations is as follows: Three months ended March 31, 2024 2023 U.S. statutory corporate rate 21.0 % 21.0 % Non-taxable income and nondeductible benefits, net — (.4) State taxes 2.2 2.7 Effective tax rate 23.2 % 23.3 %
Schedule of Deferred Tax Assets and Liabilities	The components of the Company's income tax assets and liabilities are summarized below (dollars in millions): March 31, December 31, Deferred tax assets: Net federal operating loss carryforwards $ 268.3 $ 77.1 Net state operating loss carryforwards 42.8 2.5 Insurance liabilities 318.8 322.8 Indirect costs allocable to self-constructed real estate assets — 252.9 Accumulated other comprehensive loss 419.0 445.5 Other 47.8 35.6 Gross deferred tax assets 1,096.7 1,136.4 Deferred tax liabilities: Investments (35.0) (36.3) Present value of future profits and deferred acquisition costs (167.7) (163.0) Gross deferred tax liabilities (202.7) (199.3) Net deferred tax assets 894.0 937.1 Current income taxes accrued (7.9) (.9) Income tax assets, net $ 886.1 $ 936.2
Schedule of Operating Loss Carryforwards	We have $1.3 billion of federal non-life NOLs as of March 31, 2024, as summarized below (dollars in millions): Net operating loss Year of expiration carryforwards 2026 $ 15.8 2027 10.8 2028 through 2035 340.7 No expiration date 910.5 Total federal non-life NOLs $ 1,277.8

NOTES PAYABLE - DIRECT CORPOR_2

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	The following notes payable were direct corporate obligations of the Company as of March 31, 2024 and December 31, 2023 (dollars in millions): March 31, December 31, 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 November 2060 150.0 150.0 Revolving Credit Agreement (as defined below) — — Unamortized debt issue costs (9.0) (9.5) Direct corporate obligations $ 1,141.0 $ 1,140.5

INVESTMENT BORROWINGS (Tables)

INVESTMENT BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2024
Investment Borrowings [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 March 31, 2024 $ 15.5 July 2024 Fixed rate – 1.990% 27.0 August 2024 Fixed rate – .640% 21.7 May 2025 Variable rate – 5.724% 17.9 June 2025 Fixed rate – 2.940% 12.5 June 2025 Variable rate – 5.900% 125.0 September 2025 Variable rate – 5.680% 100.0 October 2025 Variable rate – 5.865% 100.0 October 2025 Variable rate – 5.860% 57.7 October 2025 Variable rate – 5.830% 50.0 November 2025 Variable rate – 5.818% 12.5 December 2025 Variable rate – 5.916% 50.0 January 2026 Variable rate – 5.781% 50.0 January 2026 Variable rate – 5.763% 100.0 January 2026 Variable rate – 5.783% 15.0 January 2026 Variable rate – 5.997% 21.8 May 2026 Variable rate – 5.673% 50.0 May 2026 Variable rate – 5.600% 75.0 December 2026 Variable rate – 5.752% 75.0 January 2027 Variable rate – 5.683% 50.0 January 2027 Variable rate – 5.798% 50.0 January 2027 Variable rate – 5.798% 100.0 January 2027 Variable rate – 5.744% 100.0 February 2027 Variable rate – 5.770% 50.0 April 2027 Variable rate – 5.648% 50.0 May 2027 Variable rate – 5.658% 100.0 June 2027 Variable rate – 5.700% 10.0 June 2027 Variable rate – 5.923% 50.0 July 2027 Variable rate – 6.018% 50.0 July 2027 Variable rate – 6.028% 100.0 August 2027 Variable rate – 6.044% 75.0 January 2028 Variable rate – 5.784% 50.0 January 2028 Variable rate – 5.838% 50.0 January 2028 Variable rate – 5.855% 34.5 February 2028 Variable rate – 5.904% 100.0 February 2028 Variable rate – 5.825% 21.0 February 2028 Variable rate – 5.775% 22.0 February 2028 Variable rate – 5.818% 100.0 February 2028 Variable rate – 5.790% 15.0 July 2028 Variable rate – 5.710% 35.0 August 2028 Variable rate – 5.720% $ 2,189.1

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss), included in shareholders' equity as of March 31, 2024 and December 31, 2023, is comprised of the following (dollars in millions): March 31, December 31, Net unrealized losses on investments having no allowance for credit losses $ (1,267.2) $ (1,235.2) Unrealized losses on investments with an allowance for credit losses (1,006.3) (931.0) Change in discount rates for liability for future policy benefits 365.1 133.4 Change in instrument-specific credit risk for market risk benefits 3.4 4.8 Deferred income tax assets 424.7 451.2 Accumulated other comprehensive loss $ (1,480.3) $ (1,576.8)

CONSOLIDATED STATEMENT OF CAS_3

CONSOLIDATED STATEMENT OF CASH FLOWS (Tables)	3 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of the Reconciliation for Net Income Provided by Operating Activities	The following reconciles net income (loss) to net cash from operating activities (dollars in millions): Three months ended March 31, 2024 2023 Cash flows from operating activities: Net income (loss) $ 112.3 $ (.8) Adjustments to reconcile net income (loss) to net cash from operating activities: Amortization and depreciation 70.4 65.7 Income taxes 23.8 (6.4) Insurance liabilities 156.6 173.3 Accrual, amortization and fair value changes included in investment income (134.8) (27.9) Deferral of policy acquisition costs (103.2) (89.8) Net investment (gains) losses (7.8) 14.6 Other (a) (22.7) (46.8) Net cash from operating activities $ 94.6 $ 81.9 _____________ (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): Three months ended March 31, 2024 2023 Amounts related to employee benefit plans $ 6.1 $ 6.5

INVESTMENTS IN VARIABLE INTER_2

INVESTMENTS IN VARIABLE INTEREST ENTITIES (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Impact on Balance Sheet of Consolidating Variable Interest Entities	The following tables provide supplemental information about the assets and liabilities of the VIEs which have been consolidated in accordance with authoritative guidance (dollars in millions): March 31, 2024 VIEs Eliminations Net effect on Assets: Investments held by variable interest entities $ 533.4 $ — $ 533.4 Notes receivable of VIEs held by subsidiaries — (104.9) (104.9) Cash and cash equivalents held by variable interest entities 83.5 — 83.5 Accrued investment income 1.7 — 1.7 Income tax assets, net 12.5 — 12.5 Other assets .9 (.5) .4 Total assets $ 632.0 $ (105.4) $ 526.6 Liabilities: Other liabilities $ 11.0 $ (2.9) $ 8.1 Borrowings related to variable interest entities 565.5 — 565.5 Notes payable of VIEs held by subsidiaries 106.1 (106.1) — Total liabilities $ 682.6 $ (109.0) $ 573.6 December 31, 2023 VIEs Eliminations Net effect on Assets: Investments held by variable interest entities $ 768.6 $ — $ 768.6 Notes receivable of VIEs held by subsidiaries — (113.8) (113.8) Cash and cash equivalents held by variable interest entities 114.5 — 114.5 Accrued investment income 2.7 — 2.7 Income tax assets, net 13.0 — 13.0 Other assets — (.7) (.7) Total assets $ 898.8 $ (114.5) $ 784.3 Liabilities: Other liabilities $ 14.6 $ (2.2) $ 12.4 Borrowings related to variable interest entities 820.8 — 820.8 Notes payable of VIEs held by subsidiaries 126.1 (126.1) — Total liabilities $ 961.5 $ (128.3) $ 833.2
Schedule 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 months ended March 31, 2024 (dollars in millions): Corporate securities States and political subdivisions Foreign governments Asset-backed securities Total Allowance at December 31, 2023 $ 41.7 $ .7 $ .4 $ .1 $ 42.9 Additions for securities for which credit losses were not previously recorded 2.2 (.1) .1 — 2.2 Additions (reductions) for securities where an allowance was previously recorded (6.1) — .1 — (6.0) Reduction for securities sold during the period (.1) — — — (.1) Allowance at March 31, 2024 $ 37.7 $ .6 $ .6 $ .1 $ 39.0 The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the three months ended March 31, 2023 (dollars in millions): Corporate securities States and political subdivisions Foreign governments Asset-backed securities Total Allowance at December 31, 2022 $ 54.4 $ .9 $ .4 $ .3 $ 56.0 Additions for securities for which credit losses were not previously recorded 3.0 — — — 3.0 Additions (reductions) for securities where an allowance was previously recorded .5 (.1) .1 .3 .8 Reduction for securities sold during the period (.7) — — — (.7) Allowance at March 31, 2023 $ 57.2 $ .8 $ .5 $ .6 $ 59.1 The following table summarizes changes in the allowance for credit losses related to corporate securities held by VIEs for the three months ended March 31, 2024 and 2023 (dollars in millions): Three months ended March 31, 2024 2023 Allowance at the beginning of the period $ 3.1 $ 5.5 Additions for securities for which credit losses were not previously recorded .3 .3 Additions (reductions) for securities where an allowance was previously recorded 1.7 (.7) Reduction for securities sold during the period (.8) (1.6) Allowance at the end of the period $ 4.3 $ 3.5
Schedule 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 March 31, 2024, 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 $ 13.7 $ 13.2 Due after one year through five years 506.7 493.5 Due after five years through ten years 26.8 26.7 Total $ 547.2 $ 533.4

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 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 $ — $ 11,491.4 $ 147.5 $ 11,638.9 United States Treasury securities and obligations of United States government corporations and agencies — 214.4 — 214.4 States and political subdivisions — 2,703.4 — 2,703.4 Foreign governments — 82.3 — 82.3 Asset-backed securities — 1,428.3 25.6 1,453.9 Agency residential mortgage-backed securities — 687.7 — 687.7 Non-agency residential mortgage-backed securities — 1,559.8 — 1,559.8 Collateralized loan obligations — 1,145.6 — 1,145.6 Commercial mortgage-backed securities — 2,162.1 — 2,162.1 Total fixed maturities, available for sale — 21,475.0 173.1 21,648.1 Equity securities - corporate securities 45.8 — 72.6 118.4 Trading securities: Asset-backed securities — 31.2 — 31.2 Agency residential mortgage-backed securities — 3.4 — 3.4 Non-agency residential mortgage-backed securities — 57.4 — 57.4 Collateralized loan obligations — 9.1 — 9.1 Commercial mortgage-backed securities — 121.7 — 121.7 Total trading securities — 222.8 — 222.8 Investments held by variable interest entities - corporate securities — 533.4 — 533.4 Other invested assets: Derivatives — 355.0 — 355.0 Residual tranches — 2.6 52.2 54.8 Total other invested assets — 357.6 52.2 409.8 Market risk benefit asset — — 84.1 84.1 Assets held in separate accounts — 3.3 — 3.3 Total assets carried at fair value by category $ 45.8 $ 22,592.1 $ 382.0 $ 23,019.9 Liabilities: Market risk benefit liability $ — $ — $ 3.8 $ 3.8 Embedded derivatives associated with fixed indexed annuity products — — 1,426.8 1,426.8 Total liabilities carried at fair value by category $ — $ — $ 1,430.6 $ 1,430.6 The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2023 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 $ — $ 11,678.2 $ 159.3 $ 11,837.5 United States Treasury securities and obligations of United States government corporations and agencies — 194.4 — 194.4 States and political subdivisions — 2,566.7 — 2,566.7 Foreign governments — 83.1 — 83.1 Asset-backed securities — 1,346.9 25.5 1,372.4 Agency residential mortgage-backed securities — 648.0 — 648.0 Non-agency residential mortgage-backed securities — 1,553.2 — 1,553.2 Collateralized loan obligations — 1,032.8 — 1,032.8 Commercial mortgage-backed securities — 2,205.0 13.1 2,218.1 Total fixed maturities, available for sale — 21,308.3 197.9 21,506.2 Equity securities - corporate securities 24.2 — 72.7 96.9 Trading securities: Asset-backed securities — 32.8 — 32.8 Agency residential mortgage-backed securities — 3.5 — 3.5 Non-agency residential mortgage-backed securities — 58.5 — 58.5 Collateralized loan obligations — 9.0 — 9.0 Commercial mortgage-backed securities — 118.9 — 118.9 Total trading securities — 222.7 — 222.7 Investments held by variable interest entities - corporate securities — 768.6 — 768.6 Other invested assets: Derivatives — 239.2 — 239.2 Residual tranches — 7.5 31.5 39.0 Total other invested assets — 246.7 31.5 278.2 Market risk benefit asset — — 75.4 75.4 Assets held in separate accounts — 3.1 — 3.1 Total assets carried at fair value by category $ 24.2 $ 22,549.4 $ 377.5 $ 22,951.1 Liabilities: Market risk benefit liability $ — $ — $ 7.4 $ 7.4 Embedded derivatives associated with fixed indexed annuity products — — 1,376.7 1,376.7 Total liabilities carried at fair value by category $ — $ — $ 1,384.1 $ 1,384.1 The fair value of our financial instruments not carried at fair value on a recurring basis are as follows (dollars in millions): March 31, 2024 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 $ — $ — $ 1,930.8 $ 1,930.8 $ 2,087.1 Policy loans — — 130.3 130.3 130.3 Other invested assets: Company-owned life insurance — 305.2 — 305.2 305.2 Cash and cash equivalents: Unrestricted 566.3 — — 566.3 566.3 Held by variable interest entities 83.5 — — 83.5 83.5 Liabilities: Policyholder account balances — — 15,736.7 15,736.7 15,736.7 Future policy benefits — — (218.4) (218.4) (218.4) Investment borrowings — 2,189.8 — 2,189.8 2,189.1 Borrowings related to variable interest entities — 564.3 — 564.3 565.5 Notes payable – direct corporate obligations — 1,115.8 — 1,115.8 1,141.0 December 31, 2023 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 $ — $ — $ 1,926.9 $ 1,926.9 $ 2,064.1 Policy loans — — 128.5 128.5 128.5 Other invested assets: Company-owned life insurance — 303.0 — 303.0 303.0 Cash and cash equivalents: Unrestricted 774.5 — — 774.5 774.5 Held by variable interest entities 114.5 — — 114.5 114.5 Liabilities: Policyholder account balances — — 15,667.8 15,667.8 15,667.8 Future policy benefits — — (274.9) (274.9) (274.9) Investment borrowings — 2,190.2 — 2,190.2 2,189.3 Borrowings related to variable interest entities — 814.8 — 814.8 820.8 Notes payable – direct corporate obligations — 1,097.3 — 1,097.3 1,140.5 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 three months ended March 31, 2024 (dollars in millions): March 31, 2024 Beginning balance as of December 31, 2023 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 Ending balance as of March 31, 2024 Amount of total gains (losses) for the three months ended March 31, 2024 included in our net income relating to assets still held as of the reporting date Amount of total gains (losses) for the three months ended March 31, 2024 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 $ 159.3 $ 6.7 $ 4.4 $ (5.9) $ — $ (17.0) $ 147.5 $ 4.4 $ (6.7) Asset-backed securities 25.5 (.2) — .3 — — 25.6 — .2 Commercial mortgage-backed securities 13.1 — — — — (13.1) — — — Total fixed maturities, available for sale 197.9 6.5 4.4 (5.6) — (30.1) 173.1 4.4 (6.5) Equity securities - corporate securities 72.7 — (.1) — — — 72.6 (.1) — Other invested assets - residual tranches 31.5 7.9 6.4 — 6.4 — 52.2 6.4 — _________ (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 three months ended March 31, 2024 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 6.8 $ (.1) $ — $ — $ 6.7 Asset-backed securities — (.2) — — (.2) Total fixed maturities, available for sale 6.8 (.3) — — 6.5 Other invested assets - residual tranches 9.2 (1.3) — — 7.9 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 three months ended March 31, 2023 (dollars in millions): March 31, 2023 Beginning balance as of December 31, 2022 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 March 31, 2023 Amount of total gains (losses) for the three months ended March 31, 2023 included in our net income relating to assets still held as of the reporting date Amount of total gains (losses) for the three months ended March 31, 2023 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 $ 127.8 $ (.5) $ .1 $ .9 $ 5.9 $ (6.4) $ 127.8 $ .1 $ .1 Asset-backed securities 57.0 (5.1) (.2) (.2) — (10.4) 41.1 — (.5) Non-agency residential mortgage-backed securities 56.2 (.2) — 2.3 — (24.5) 33.8 — 2.4 Collateralized loan obligations 3.4 — — — — (3.4) — — — Commercial mortgage-backed securities 14.5 — — (.7) — — 13.8 — (.7) Total fixed maturities, available for sale 258.9 (5.8) (.1) 2.3 5.9 (44.7) 216.5 .1 1.3 Equity securities - corporate securities 75.7 — (.7) — — — 75.0 (.7) — Trading securities - non-agency residential mortgage-backed securities .5 — — — — — .5 — — Other invested assets - residual tranches 18.3 .5 .4 — — — 19.2 .4 — ____________ (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 three months ended March 31, 2023 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ .9 $ (1.4) $ — $ — $ (.5) Asset-backed securities 2.3 (7.4) — — (5.1) Non-agency residential mortgage-backed securities — (.2) — — (.2) Total fixed maturities, available for sale 3.2 (9.0) — — (5.8) Other invested assets - residual tranches .7 (.2) — — .5 The following table summarizes changes in the value of our embedded derivatives associated with fixed indexed annuity products (classified in policyholder account balances and future policy benefits as presented in the note to the consolidated financial statements entitled "Accounting for Derivatives") 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): Three months ended March 31, 2024 2023 Balance at beginning of the period $ 1,376.7 $ 1,297.0 Premiums less benefits (17.8) (14.0) Change in fair value, net 67.9 64.9 Balance at end of the period $ 1,426.8 $ 1,347.9
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 March 31, 2024 (dollars in millions): Fair value at March 31, 2024 Valuation techniques Unobservable inputs Range (weighted average) (a) Assets: Corporate securities (b) $ 2.5 Recovery method Percent of recovery expected (25.00%) Corporate securities (c) 1.5 Unadjusted purchase price Not applicable Not applicable Asset-backed securities (d) 8.3 Discounted cash flow analysis Discount margins (2.28%) Equity securities (e) 63.3 Market comparables EBITDA multiples 11.5X Equity securities (f) .1 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Equity securities (g) 9.2 Unadjusted purchase price Not applicable Not applicable Other assets categorized as Level 3 (h) 213.0 Unadjusted third-party price source Not applicable Not applicable Market risk benefit asset (i) 84.1 Discounted cash flow analysis Surrender rates 1.42% - 15.25% (4.28%) Utilization rates 5.92% - 47.62% (24.88%) Total 382.0 Liabilities: Market risk benefit liability (i) 3.8 Discounted cash flow analysis Surrender rates 1.42% - 15.25% (4.28%) Utilization rates 5.92% - 47.62% (24.88%) Embedded derivatives related to fixed indexed annuity products (j) 1,426.8 Discounted projected embedded derivatives Projected portfolio yields 4.32% - 4.92% (4.57%) Discount rates 4.07% - 5.74% (4.72%) Surrender rates 1.42% - 23.70% (6.92%) ________________________________ (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 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. (c) Corporate securities - For these assets, there were no adjustments to the purchase price. (d) 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. (e) 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. (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. (i) Market risk benefits – Many of our fixed indexed annuity products include a GLWB that is considered a MRB. The calculation of the value of MRBs is based on significant unobservable inputs including assumptions related to surrenders and utilization of policy benefits. These assumptions are based on actuarial estimates and past experience. Increases in assumed surrender rates would generally increase the value of a MRB asset or decrease the value of a MRB liability (with decreases in assumed surrender rates having the opposite impacts). Increases in utilization rates would generally decrease the value of a MRB asset or increase the value of a MRB liability (with decreases in utilization rates having the opposite impacts). (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 projected portfolio yields in isolation would have resulted in a higher (lower) fair value measurement. The discount rate is based on risk free rates (U.S. Treasury rates for similar durations) adjusted for our non-performance risk and risk margins for non-capital market inputs. Increases (decreases) in the discount rates would have resulted in a lower (higher) fair value measurement. Assumed surrender rates are used to project how long the contracts remain in force. Generally, the longer the contracts are assumed to be in force the higher the fair value of the embedded derivative. The embedded derivatives related to fixed indexed annuity products are classified in policyholder account balances and future policy benefits as presented in the note to the consolidated financial statements entitled "Accounting for Derivatives". 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, 2023 (dollars in millions): Fair value at December 31, 2023 Valuation techniques Unobservable inputs Range (weighted average) (a) Assets: Corporate securities (b) $ 2.9 Discounted cash flow analysis Discount margins (2.22%) Corporate securities (c) 2.5 Recovery method Percent of recovery expected (25.00%) Corporate securities (d) 1.5 Unadjusted purchase price Not applicable Not applicable Asset-backed securities (e) 8.6 Discounted cash flow analysis Discount margins (2.24%) Equity securities (f) 63.4 Market comparables EBITDA multiples 11.3X Equity securities (g) .1 Recovery method Percent of recovery expected 0.00% - 100.00% (100.00%) Equity securities (h) 9.2 Unadjusted purchase price Not applicable Not applicable Other assets categorized as Level 3 (i) 213.9 Unadjusted third-party price source Not applicable Not applicable Market risk benefit asset (j) 75.4 Discounted cash flow analysis Surrender rates 1.42% - 15.25% (4.28%) Utilization rates 5.92% - 47.62% (24.88%) Total 377.5 Liabilities: Market risk benefit liability (j) 7.4 Discounted cash flow analysis Surrender rates 1.42% - 15.25% (4.28%) Utilization rates 5.92% - 47.62% (24.88%) Embedded derivatives related to fixed indexed annuity products (k) 1,376.7 Discounted projected embedded derivatives Projected portfolio yields 4.32% - 4.92% (4.57%) Discount rates 3.85% - 5.76% (4.41%) Surrender rates 1.42% - 23.70% (6.92%) ________________________________ (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 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) Market risk benefits – Many of our fixed indexed annuity products include a GLWB that is considered a MRB. The calculation of the value of MRBs is based on significant unobservable inputs including assumptions related to surrenders and utilization of policy benefits. These assumptions are based on actuarial estimates and past experience. Increases in assumed surrender rates would generally increase the value of a MRB asset or decrease the value of a MRB liability (with decreases in assumed surrender rates having the opposite impacts). Increases in utilization rates would generally decrease the value of a MRB asset or increase the value of a MRB liability (with decreases in utilization rates having the opposite impacts). (k) Embedded derivatives related to fixed indexed annuity products - 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 projected portfolio yields in isolation would have resulted in a higher (lower) fair value measurement. The discount rate is based on risk free rates (U.S. Treasury rates for similar durations) adjusted for our non-performance risk and risk margins for non-capital market inputs. Increases (decreases) in the discount rates would have resulted in a lower (higher) fair value measurement. Assumed surrender rates are used to project how long the contracts remain in force. Generally, the longer the contracts are assumed to be in force the higher the fair value of the embedded derivative. The embedded derivatives related to fixed indexed annuity products are classified in policyholder account balances and future policy benefits as presented in the note to the consolidated financial statements entitled "Accounting for Derivatives".

INVESTMENTS - SCHEDULE OF AMORT

INVESTMENTS - SCHEDULE OF AMORTIZED COST, GROSS UNREALIZED GAINS AND LOSSES, ESTIMATED FAIR VALUE, AND ALLOWANCE FOR CREDIT LOSSES (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 23,950.8
Allowance for credit losses	(39)	$ (42.9)	$ (59.1)	$ (56)
Estimated fair value	21,648.1	21,506.2
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	13,132.7	13,186.9
Gross unrealized gains	50.5	74.7
Gross unrealized losses	(1,506.6)	(1,382.4)
Allowance for credit losses	(37.7)	(41.7)	(57.2)	(54.4)
Estimated fair value	11,638.9	11,837.5
United States Treasury securities and obligations of United States government corporations and agencies
Debt Securities, Available-for-sale [Line Items]
Amortized cost	232.8	207.6
Gross unrealized gains	0	0.1
Gross unrealized losses	(18.4)	(13.3)
Allowance for credit losses	0	0
Estimated fair value	214.4	194.4
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized cost	3,054.5	2,896.8
Gross unrealized gains	26.4	31.3
Gross unrealized losses	(376.9)	(360.7)
Allowance for credit losses	(0.6)	(0.7)	(0.8)	(0.9)
Estimated fair value	2,703.4	2,566.7
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	94.8	92.7
Gross unrealized gains	0.6	1.2
Gross unrealized losses	(12.5)	(10.4)
Allowance for credit losses	(0.6)	(0.4)	(0.5)	(0.4)
Estimated fair value	82.3	83.1
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,546.1	1,476.2
Gross unrealized gains	3.3	4.1
Gross unrealized losses	(95.4)	(107.8)
Allowance for credit losses	(0.1)	(0.1)	$ (0.6)	$ (0.3)
Estimated fair value	1,453.9	1,372.4
Agency residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	683.3	639
Gross unrealized gains	6.7	9.5
Gross unrealized losses	(2.3)	(0.5)
Allowance for credit losses	0	0
Estimated fair value	687.7	648
Non-agency residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,670.4	1,670.1
Gross unrealized gains	33.6	35.8
Gross unrealized losses	(144.2)	(152.7)
Allowance for credit losses	0	0
Estimated fair value	1,559.8	1,553.2
Collateralized loan obligations
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,151	1,042.5
Gross unrealized gains	4.6	3.3
Gross unrealized losses	(10)	(13)
Allowance for credit losses	0	0
Estimated fair value	1,145.6	1,032.8
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	2,385.2	2,487.4
Gross unrealized gains	1.8	0.7
Gross unrealized losses	(224.9)	(270)
Allowance for credit losses	0	0
Estimated fair value	2,162.1	2,218.1
Total fixed maturities, available for sale
Debt Securities, Available-for-sale [Line Items]
Amortized cost	23,950.8	23,699.2
Gross unrealized gains	127.5	160.7
Gross unrealized losses	(2,391.2)	(2,310.8)
Allowance for credit losses	(39)	(42.9)
Estimated fair value	$ 21,648.1	$ 21,506.2

INVESTMENTS - SUMMARY OF INVEST

INVESTMENTS - SUMMARY OF INVESTMENTS BY CONTRACTUAL MATURITY (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Amortized cost
Due in one year or less	$ 324.8
Due after one year through five years	2,278.8
Due after five years through ten years	1,529.8
Due after ten years	12,381.4
Subtotal	16,514.8
Structured securities	7,436
Amortized cost	23,950.8
Estimated fair value
Due in one year or less	314.6
Due after one year through five years	2,175.7
Due after five years through ten years	1,450.2
Due after ten years	10,698.5
Subtotal	14,639
Structured securities	7,009.1
Estimated fair value	$ 21,648.1	$ 21,506.2

INVESTMENTS - SUMMARY OF INVE_2

INVESTMENTS - SUMMARY OF INVESTMENTS WITH UNREALIZED LOSSES BY INVESTMENT CATEGORY (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair value
Less than 12 months	$ 1,673.3	$ 1,169.9
12 months or greater	10,761.4	10,886.4
Total	12,434.7	12,056.3
Unrealized losses
Less than 12 months	(21.3)	(24.5)
12 months or greater	(1,371.7)	(1,365)
Total	(1,393)	(1,389.5)
Corporate securities
Fair value
Less than 12 months	508.6	332
12 months or greater	5,339.7	5,199
Total	5,848.3	5,531
Unrealized losses
Less than 12 months	(7.4)	(5.3)
12 months or greater	(719.3)	(640.6)
Total	(726.7)	(645.9)
United States Treasury securities and obligations of United States government corporations and agencies
Fair value
Less than 12 months	72.9	126.7
12 months or greater	119	34.5
Total	191.9	161.2
Unrealized losses
Less than 12 months	(3.3)	(10.2)
12 months or greater	(15.1)	(3.1)
Total	(18.4)	(13.3)
States and political subdivisions
Fair value
Less than 12 months	272.4	236.9
12 months or greater	959.2	990
Total	1,231.6	1,226.9
Unrealized losses
Less than 12 months	(4)	(3.8)
12 months or greater	(166.4)	(181.2)
Total	(170.4)	(185)
Foreign governments
Fair value
Less than 12 months	12	6.2
12 months or greater	18.2	21.1
Total	30.2	27.3
Unrealized losses
Less than 12 months	(0.5)	0
12 months or greater	(1.1)	(2.3)
Total	(1.6)	(2.3)
Asset-backed securities
Fair value
Less than 12 months	110.5	46.9
12 months or greater	1,064.1	1,066.8
Total	1,174.6	1,113.7
Unrealized losses
Less than 12 months	(0.8)	(0.8)
12 months or greater	(93.7)	(106)
Total	(94.5)	(106.8)
Agency residential mortgage-backed securities
Fair value
Less than 12 months	249.8	73.4
12 months or greater	11.5	7.1
Total	261.3	80.5
Unrealized losses
Less than 12 months	(1.9)	(0.4)
12 months or greater	(0.4)	(0.1)
Total	(2.3)	(0.5)
Non-agency residential mortgage-backed securities
Fair value
Less than 12 months	117.7	69
12 months or greater	1,064.4	1,062.9
Total	1,182.1	1,131.9
Unrealized losses
Less than 12 months	(0.9)	(1.3)
12 months or greater	(143.3)	(151.4)
Total	(144.2)	(152.7)
Collateralized loan obligations
Fair value
Less than 12 months	233.1	75
12 months or greater	334.2	590.9
Total	567.3	665.9
Unrealized losses
Less than 12 months	(1.9)	(0.3)
12 months or greater	(8.1)	(12.7)
Total	(10)	(13)
Commercial mortgage-backed securities
Fair value
Less than 12 months	96.3	203.8
12 months or greater	1,851.1	1,914.1
Total	1,947.4	2,117.9
Unrealized losses
Less than 12 months	(0.6)	(2.4)
12 months or greater	(224.3)	(267.6)
Total	$ (224.9)	$ (270)

INVESTMENTS - SUMMARY OF CHANGE

INVESTMENTS - SUMMARY OF CHANGES IN THE ALLOWANCE FOR CURRENT EXPECTED CREDIT LOSSES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	$ 42.9	$ 56
Additions for securities for which credit losses were not previously recorded	2.2	3
Additions (reductions) for securities where an allowance was previously recorded	(6)	0.8
Reduction for securities sold during the period	(0.1)	(0.7)
Allowance at the end of the period	39	59.1
Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	41.7	54.4
Additions for securities for which credit losses were not previously recorded	2.2	3
Additions (reductions) for securities where an allowance was previously recorded	(6.1)	0.5
Reduction for securities sold during the period	(0.1)	(0.7)
Allowance at the end of the period	37.7	57.2
States and political subdivisions
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	0.7	0.9
Additions for securities for which credit losses were not previously recorded	(0.1)	0
Additions (reductions) for securities where an allowance was previously recorded	0	(0.1)
Reduction for securities sold during the period	0	0
Allowance at the end of the period	0.6	0.8
Foreign governments
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	0.4	0.4
Additions for securities for which credit losses were not previously recorded	0.1	0
Additions (reductions) for securities where an allowance was previously recorded	0.1	0.1
Reduction for securities sold during the period	0	0
Allowance at the end of the period	0.6	0.5
Asset-backed securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	0.1	0.3
Additions for securities for which credit losses were not previously recorded	0	0
Additions (reductions) for securities where an allowance was previously recorded	0	0.3
Reduction for securities sold during the period	0	0
Allowance at the end of the period	$ 0.1	$ 0.6

INVESTMENTS - NARRATIVE (Detail

INVESTMENTS - NARRATIVE (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) mortgage_loan loan investment	Mar. 31, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
Net realized investment gains (losses)	$ 7.8	$ (14.6)
Gain on liquidation of variable interest entity	3.8	0
Change in allowance for credit losses	$ (1.5)	1.5
Number of investments in default or considered nonperforming | investment	0
Value of available for sale securities sold	$ 197.1	288.5
Financial Asset, Past Due
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans noncurrent | mortgage_loan	1
Total Fixed Maturities, Available For Sale
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale	$ 5.9	14.4
Embedded Derivative Related to Fixed Maturity Securities
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in fair value of certain fixed maturity investments with embedded derivatives	11.3	(0.3)
Reinsurance Contract | Coinsurance
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in fair value of certain fixed maturity investments with embedded derivatives	0.3	1.4
Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Net realized investment gains (losses)	(10)	(14.4)
Equity Securities - Corporate Securities
Debt Securities, Available-for-sale [Line Items]
Net realized investment gains (losses)	0.9	0.2
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale	1.1	2.2
Corporate Securities
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale	3.5	11.1
Various Other Investments
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sale	1.3	$ 1.1
Amortized Cost | Commercial Mortgage | Financial Asset, Past Due
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	17.3
Amortized Cost | Residential Mortgage
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	642
Fair Value | Residential Mortgage
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	$ 640.3
Commercial Portfolio Segment
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans in process of foreclosure | mortgage_loan	0
Amortized cost	$ 1,461.7
Commercial Portfolio Segment | Amortized Cost | Commercial Mortgage
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	1,461.7
Commercial Portfolio Segment | Fair Value | Commercial Mortgage
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	$ 1,290.5
Residential Portfolio Segment | Financial Asset, Past Due
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans noncurrent | loan	17
Amortized cost	$ 9.4
Residential Portfolio Segment | Foreclosure | Financial Asset, Past Due
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans noncurrent | loan	11
Amortized cost	$ 4.2

INVESTMENTS - SUMMARY OF CARRYI

INVESTMENTS - SUMMARY OF CARRYING VALUE AND ESTIMATED FAIR VALUE OF OUTSTANDING COMMERCIAL MORTGAGE LOANS AND UNDERLYING COLLATERAL (Details) $ in Millions	Mar. 31, 2024 USD ($)
Less than 60% | Maximum
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%
60% to less than 70% | Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	60%
70% to less than 80% | Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	80%
70% to less than 80% | Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	70%
80% to less than 90% | Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	90%
80% to less than 90% | Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	80%
Commercial Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 12.8
2023	306.9
2022	310.7
2021	150.3
2020	38.7
Prior	642.3
Total amortized cost	1,461.7
Mortgage loans	1,290.5
Collateral	4,338.8
Commercial Portfolio Segment | Less than 60%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	12.8
2023	160.7
2022	160.8
2021	96.2
2020	33.2
Prior	525.5
Total amortized cost	989.2
Mortgage loans	877.8
Collateral	3,675.3
Commercial Portfolio Segment | 60% to less than 70%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	126.9
2022	47.4
2021	29.2
2020	5.5
Prior	18.6
Total amortized cost	227.6
Mortgage loans	208.3
Collateral	348.7
Commercial Portfolio Segment | 70% to less than 80%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	19.3
2022	54.7
2021	24.9
2020	0
Prior	49.7
Total amortized cost	148.6
Mortgage loans	127.2
Collateral	201
Commercial Portfolio Segment | 80% to less than 90%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022	47.8
2021	0
2020	0
Prior	48.5
Total amortized cost	96.3
Mortgage loans	77.2
Collateral	$ 113.8

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	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	$ 15.4	$ 8
Current period provision for expected credit losses	1.2	(0.4)
Allowance at the end of the period	$ 16.6	$ 8.4

INVESTMENTS - TOTAL INVESTMENT

INVESTMENTS - TOTAL INVESTMENT GAINS (LOSSES) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Realized investment gains (losses):
Total realized investment losses	$ (10)	$ (14.6)
Change in allowance for credit losses	1.5	(1.5)
Change in fair value of equity securities	0.9	0.4
Other changes in fair value	11.6	1.1
Gain on liquidation of variable interest entity	3.8	0
Other investment gains	17.8	0
Net realized investment gains (losses)	7.8	(14.6)
Variable interest entities, change in allowance for current expected credit losses	1.2	(2)
Increase (decrease) in equity securities, FV-NI, held at end of period	1	0.3
Change in estimated fair value of trading securities	4.8	(2.5)
Total Fixed Maturities, Available For Sale
Realized investment gains (losses):
Gross realized gains on sales of fixed maturities, available for sale	2.1	7.3
Gross realized losses on sales of fixed maturities, available for sale	(5.9)	(14.4)
Equity securities, net	0	(0.2)
Other, net	$ (6.2)	$ (7.3)

LIABILITIES FOR INSURANCE PRO_3

LIABILITIES FOR INSURANCE PRODUCTS - SUMMARY OF CHANGES IN LIABILITY FOR FUTURE POLICY BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	$ 11,736.5		$ 11,928.2
Supplemental health
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	2,718.2	$ 2,781.3
Effect of changes in discount rate assumptions, beginning of period	86.8	188.4
Beginning PVENP at original discount rate	2,805	2,969.7
Effect of changes in cash flow assumptions			0	$ 0
Effect of actual variances from expected experience			(15.2)	(17.2)
Adjusted beginning of period PVENP			2,789.8	2,952.5
Issuances	66	63.7
Interest accrual	30.7	32
Net premiums collected	(86.9)	(90.3)
Ending PVENP at original discount rate	2,799.6	2,957.9
Effect of changes in discount rate assumptions, end of period	(139.1)	(120.4)
PVENP, end of period	2,660.5	2,837.5
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	6,023.3	5,886.8
Effect of changes in discount rate assumptions, beginning of period	229.8	483.3
Beginning PVEFPB at original discount rate	6,253.1	6,370.1
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(17.7)	(20.5)
Adjusted beginning of period PVEFPB			6,235.4	6,349.6
Issuances	66	63.7
Interest accrual	72.6	73.8
Benefit payments	(105.6)	(99.5)
Ending PVEFPB at original discount rate	6,268.4	6,387.6
Effect of changes in discount rate assumptions, end of period	(371.4)	(306.8)
PVEFPB, end of period	5,897	6,080.8
Net liability for future policy benefits	3,236.5	3,243.3
Flooring impact	0	0
Adjusted net liability for future policy benefits	3,236.5	3,243.3
Related reinsurance recoverable	(1.5)	(2.4)
Net liability for future policy benefits, net of reinsurance recoverable	3,235	3,240.9
Medicare supplement
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	3,009.2	2,800.6
Effect of changes in discount rate assumptions, beginning of period	99.1	196.4
Beginning PVENP at original discount rate	3,108.3	2,997
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(39)	27
Adjusted beginning of period PVENP			3,069.3	3,024
Issuances	134.2	101.6
Interest accrual	32.2	30.5
Net premiums collected	(114.4)	(113.4)
Ending PVENP at original discount rate	3,121.3	3,042.7
Effect of changes in discount rate assumptions, end of period	(145.5)	(139.2)
PVENP, end of period	2,975.8	2,903.5
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	3,236.6	3,033.1
Effect of changes in discount rate assumptions, beginning of period	108.3	212
Beginning PVEFPB at original discount rate	3,344.9	3,245.1
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(39.1)	32.2
Adjusted beginning of period PVEFPB			3,305.8	3,277.3
Issuances	134.2	101.6
Interest accrual	34.9	33.2
Benefit payments	(117.8)	(125.6)
Ending PVEFPB at original discount rate	3,357.1	3,286.5
Effect of changes in discount rate assumptions, end of period	(158.4)	(150)
PVEFPB, end of period	3,198.7	3,136.5
Net liability for future policy benefits	222.9	233
Flooring impact	0.8	0.4
Adjusted net liability for future policy benefits	223.7	233.4
Related reinsurance recoverable	0	0
Net liability for future policy benefits, net of reinsurance recoverable	223.7	233.4
Long-term care
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	1,055.6	1,034.1
Effect of changes in discount rate assumptions, beginning of period	(7.6)	23.2
Beginning PVENP at original discount rate	1,048	1,057.3
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(7.9)	(3.4)
Adjusted beginning of period PVENP			1,040.1	1,053.9
Issuances	46.9	15.7
Interest accrual	12.9	12.3
Net premiums collected	(39.5)	(40.6)
Ending PVENP at original discount rate	1,060.4	1,041.3
Effect of changes in discount rate assumptions, end of period	(11.5)	(4.6)
PVENP, end of period	1,048.9	1,036.7
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	4,364.6	4,158.1
Effect of changes in discount rate assumptions, beginning of period	(132.8)	28.5
Beginning PVEFPB at original discount rate	4,231.8	4,186.6
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(12.1)	(6.3)
Adjusted beginning of period PVEFPB			4,219.7	4,180.3
Issuances	47	15.7
Interest accrual	56.7	55.5
Benefit payments	(74.2)	(71.3)
Ending PVEFPB at original discount rate	4,249.2	4,180.2
Effect of changes in discount rate assumptions, end of period	25.5	86.4
PVEFPB, end of period	4,274.7	4,266.6
Net liability for future policy benefits	3,225.8	3,229.9
Flooring impact	0	0
Adjusted net liability for future policy benefits	3,225.8	3,229.9
Related reinsurance recoverable	(360.8)	(357.5)
Net liability for future policy benefits, net of reinsurance recoverable	2,865	2,872.4
Traditional life
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	2,279.6	2,175
Effect of changes in discount rate assumptions, beginning of period	67.6	137.1
Beginning PVENP at original discount rate	2,347.2	2,312.1
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(21.2)	(14.1)
Adjusted beginning of period PVENP			2,326	2,298
Issuances	108.2	108.3
Interest accrual	24.3	23
Net premiums collected	(99.9)	(101.4)
Ending PVENP at original discount rate	2,358.6	2,327.9
Effect of changes in discount rate assumptions, end of period	(102)	(92.5)
PVENP, end of period	2,256.6	2,235.4
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	4,694.7	4,417.9
Effect of changes in discount rate assumptions, beginning of period	170.9	336.6
Beginning PVEFPB at original discount rate	4,865.6	4,754.5
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(22)	(15.2)
Adjusted beginning of period PVEFPB			4,843.6	4,739.3
Issuances	108.2	108.3
Interest accrual	52.8	51
Benefit payments	(120.7)	(115)
Ending PVEFPB at original discount rate	4,883.9	4,783.6
Effect of changes in discount rate assumptions, end of period	(263.8)	(223)
PVEFPB, end of period	4,620.1	4,560.6
Net liability for future policy benefits	2,363.5	2,325.2
Flooring impact	0	0
Adjusted net liability for future policy benefits	2,363.5	2,325.2
Related reinsurance recoverable	(187.3)	(201.1)
Net liability for future policy benefits, net of reinsurance recoverable	2,176.2	2,124.1
Other annuities
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	0	0
Effect of changes in discount rate assumptions, beginning of period	0	0
Beginning PVENP at original discount rate	0	0
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			0	0
Adjusted beginning of period PVENP			0	0
Issuances	0.9	1.1
Interest accrual	0	0
Net premiums collected	(0.9)	(1.1)
Ending PVENP at original discount rate	0	0
Effect of changes in discount rate assumptions, end of period	0	0
PVENP, end of period	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	308.9	310.9
Effect of changes in discount rate assumptions, beginning of period	3	15.4
Beginning PVEFPB at original discount rate	311.9	326.3
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			0.8	0.7
Adjusted beginning of period PVEFPB			$ 312.7	$ 327
Issuances	0.9	1.1
Interest accrual	3.6	3.7
Benefit payments	(8.2)	(8.6)
Ending PVEFPB at original discount rate	309	323.2
Effect of changes in discount rate assumptions, end of period	(10.1)	(6.9)
PVEFPB, end of period	298.9	316.3
Net liability for future policy benefits	298.9	316.3
Flooring impact	0	0
Adjusted net liability for future policy benefits	298.9	316.3
Related reinsurance recoverable	0	0
Net liability for future policy benefits, net of reinsurance recoverable	$ 298.9	$ 316.3

LIABILITIES FOR INSURANCE PRO_4

LIABILITIES FOR INSURANCE PRODUCTS - RECONCILIATION OF NET LIABILITY FOR FUTURE POLICY BENEFITS (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Reserves excluded from rollforward	$ 2,488.1	$ 2,593.3
Deferred profit liability	64.7	57.7
Amount of reserves above (below) policyholder account balances	(195.7)	(410.5)
Future loss reserves	31	34.7
Future policy benefits	11,736.5	11,623.3
Supplemental health
Liability for Future Policy Benefit, Activity [Line Items]
Adjusted net liability for future policy benefits	3,236.5	3,243.3
Medicare supplement
Liability for Future Policy Benefit, Activity [Line Items]
Adjusted net liability for future policy benefits	223.7	233.4
Long-term care
Liability for Future Policy Benefit, Activity [Line Items]
Adjusted net liability for future policy benefits	3,225.8	3,229.9
Traditional life
Liability for Future Policy Benefit, Activity [Line Items]
Adjusted net liability for future policy benefits	2,363.5	2,325.2
Other annuities
Liability for Future Policy Benefit, Activity [Line Items]
Adjusted net liability for future policy benefits	$ 298.9	$ 316.3

LIABILITIES FOR INSURANCE PRO_5

LIABILITIES FOR INSURANCE PRODUCTS - CHANGES IN MARKET RISK BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Market Risk Benefit [Roll Forward]
Net liability (asset), beginning of period	$ (68)	$ (54)
Effect of changes in the instrument-specific credit risk, beginning of period	4.8	12.2
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	(63.2)	(41.8)
Issuances	(0.1)	0.1
Interest accrual	5.1	5.2
Attributed fees collected	0	0
Benefit payments	0	0
Effect of changes in interest rates	(13.7)	12.3
Effect of changes in equity markets	(5)	5.3
Effect of changes in equity index volatility	(1.2)	(7.4)
Actual policyholder behavior different from expected behavior	1.9	0.6
Effect of changes in future expected policyholder behavior - other	0	0
Effect of changes in future expected policyholder behavior - risk margin	0	0
Effect of changes in assumptions	(0.8)	(1.4)
Net liability (asset), end of period, before effect of changes in the instrument-specific credit risk	(77)	(27.1)
Effect of changes in the instrument-specific credit risk, end of period	(3.3)	(13.1)
Net liability (asset), end of period	(80.3)	(40.2)
Reinsurance recoverable, end of period	0	0
Net liability (asset), end of period, net of reinsurance	(80.3)	(40.2)
Balance reported as an asset	84.1	57.8	$ 75.4
Balance reported as a liability	3.8	17.6	7.4
Net liability (asset)	(80.3)	(40.2)	$ (68)
Net amount at risk	$ 46.2	$ 58.9
Weighted average attained age of contract holders	69 years	68 years

LIABILITIES FOR INSURANCE PRO_6

LIABILITIES FOR INSURANCE PRODUCTS - SUMMARY OF AMOUNT OF REVENUE AND INTEREST, TRADITIONAL AND LIMITED PAYMENT CONTRACTS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	$ 596.9	$ 601.4
Interest accretion	120.5	119.4
Other annuities
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	1	1.3
Interest accretion	3.6	3.7
Supplemental health
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	175.2	179.4
Interest accretion	41.9	41.8
Medicare supplement
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	156.8	159.2
Interest accretion	2.7	2.7
Long-term care
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	85	82.7
Interest accretion	43.8	43.2
Traditional life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	178.9	178.8
Interest accretion	$ 28.5	$ 28

LIABILITIES FOR INSURANCE PRO_7

LIABILITIES FOR INSURANCE PRODUCTS - SUMMARY OF AMOUNT OF UNDISCOUNTED AND DISCOUNTED EXPECTED GROSS PREMIUMS AND EXPECTED FUTURE BENEFITS (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Other annuities
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	$ 0	$ 0
Expected future gross premiums (Discounted)	0	0
Expected future benefits and expenses (Undiscounted)	370.6	396.9
Expected future benefits and expenses (Discounted)	298.9	316.3
Supplemental health
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	8,932.2	8,964.4
Expected future gross premiums (Discounted)	5,527.6	5,605.7
Expected future benefits and expenses (Undiscounted)	10,812.6	11,040.9
Expected future benefits and expenses (Discounted)	5,897	6,080.8
Medicare supplement
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	5,744.3	5,645.2
Expected future gross premiums (Discounted)	4,024.7	4,031.9
Expected future benefits and expenses (Undiscounted)	4,601.3	4,417.8
Expected future benefits and expenses (Discounted)	3,198.7	3,136.5
Long-term care
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	3,330.8	2,954.3
Expected future gross premiums (Discounted)	2,340.7	2,152.7
Expected future benefits and expenses (Undiscounted)	7,724	7,445.7
Expected future benefits and expenses (Discounted)	4,274.7	4,266.6
Traditional life
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	5,642	5,435
Expected future gross premiums (Discounted)	4,048	3,953.3
Expected future benefits and expenses (Undiscounted)	7,574.2	7,382.8
Expected future benefits and expenses (Discounted)	$ 4,620.1	$ 4,560.6

LIABILITIES FOR INSURANCE PRO_8

LIABILITIES FOR INSURANCE PRODUCTS - WEIGHTED AVERAGE DURATIONS OF LIABILITY (Details)	Mar. 31, 2024	Mar. 31, 2023
Other annuities
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	9 years 7 months 6 days	9 years 8 months 12 days
Supplemental health
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	11 years 3 months 18 days	11 years 9 months 18 days
Medicare supplement
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	6 years 4 months 24 days	6 years 1 month 6 days
Long-term care
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	10 years 7 months 6 days	10 years 6 months
Traditional life
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	10 years 4 months 24 days	10 years 1 month 6 days

LIABILITIES FOR INSURANCE PRO_9

LIABILITIES FOR INSURANCE PRODUCTS - WEIGHTED AVERAGE INTEREST RATE (Details)	Mar. 31, 2024	Mar. 31, 2023
Other annuities
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.82%	4.76%
Current discount rate	5.37%	5.17%
Supplemental health
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5%	5.04%
Current discount rate	5.35%	5.14%
Medicare supplement
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.31%	4.26%
Current discount rate	5.24%	4.94%
Long-term care
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5.67%	5.67%
Current discount rate	5.39%	5.18%
Traditional life
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.77%	4.77%
Current discount rate	5.37%	5.15%

LIABILITIES FOR INSURANCE PR_10

LIABILITIES FOR INSURANCE PRODUCTS - Liabilities for Insurance Products Related to Fixed Indexed Annuity (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Policyholder Account Balance [Line Items]
Total fixed indexed annuity insurance liabilities	$ 10,028.6	$ 9,863.7
Fixed Indexed Annuity
Policyholder Account Balance [Line Items]
Host contract liability	8,601.8	8,487
Embedded derivatives at fair value	$ 1,426.8	$ 1,376.7

LIABILITIES FOR INSURANCE PR_11

LIABILITIES FOR INSURANCE PRODUCTS - Fixed Indexed Annuity Insurance Liability (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 15,736.7	$ 15,667.8	$ 15,302.9
Total fixed indexed annuity insurance liabilities	10,028.6	9,863.7
Fixed Indexed Annuity
Policyholder Account Balance [Line Items]
Policyholder account balances	10,247.1	10,138.6
Future policy benefits	$ (218.5)	$ (274.9)

LIABILITIES FOR INSURANCE PR_12

LIABILITIES FOR INSURANCE PRODUCTS - SUMMARY OF CHANGES IN POLICYHOLDER ACCOUNT BALANCES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Policyholder Account Balance [Roll Forward]
Policyholder account balances	$ 15,736.7	$ 15,302.9	$ 15,667.8
Fixed indexed annuities
Policyholder Account Balance [Roll Forward]
Balance, beginning of period excluding contracts 100% ceded	9,999.2	9,490.4
Issuances (funds collected from new business)	345.4	323.3
Premiums received (premiums collected from inforce business)	0.5	0.4
Policy charges	(6.5)	(4)
Surrenders and withdrawals	(232.2)	(178.2)
Benefit payments	(74.4)	(59.2)
Interest credited	68.9	6.1
Other	11.8	5.5
Balance, end of period excluding contracts 100% ceded	10,112.7	9,584.3
Balance, end of period for contracts 100% ceded	134.4	154.4
Policyholder account balances	10,247.1	9,738.7
Balance, end of period, reinsurance ceded	(134.4)	(154.4)
Balance, end of period, net of reinsurance	$ 10,112.7	$ 9,584.3
Weighted average crediting rate	1.90%	1.60%
Cash surrender value, net of reinsurance	$ 9,434.2	$ 8,932.4
Fixed interest annuities
Policyholder Account Balance [Roll Forward]
Balance, beginning of period excluding contracts 100% ceded	1,636.4	1,663.1
Issuances (funds collected from new business)	45.1	45.3
Premiums received (premiums collected from inforce business)	1	0.7
Policy charges	(0.3)	(0.2)
Surrenders and withdrawals	(52.8)	(43.3)
Benefit payments	(30.2)	(27.7)
Interest credited	11.4	11.3
Other	0	0.1
Balance, end of period excluding contracts 100% ceded	1,610.6	1,649.3
Balance, end of period for contracts 100% ceded	579.3	632.6
Policyholder account balances	2,189.9	2,281.9
Balance, end of period, reinsurance ceded	(579.3)	(632.6)
Balance, end of period, net of reinsurance	$ 1,610.6	$ 1,649.3
Weighted average crediting rate	2.80%	2.70%
Cash surrender value, net of reinsurance	$ 1,582.1	$ 1,631.5
Other annuities
Policyholder Account Balance [Roll Forward]
Balance, beginning of period excluding contracts 100% ceded	113.1	127.1
Issuances (funds collected from new business)	0	0
Premiums received (premiums collected from inforce business)	5.7	7.5
Policy charges	0	0
Surrenders and withdrawals	(8.7)	(10.5)
Benefit payments	(1.4)	(1.7)
Interest credited	0.5	0.6
Other	(0.1)	(0.2)
Balance, end of period excluding contracts 100% ceded	109.1	122.8
Balance, end of period for contracts 100% ceded	25.5	26.3
Policyholder account balances	134.6	149.1
Balance, end of period, reinsurance ceded	(25.5)	(26.3)
Balance, end of period, net of reinsurance	$ 109.1	$ 122.8
Weighted average crediting rate	2.40%	1.90%
Cash surrender value, net of reinsurance	$ 109.1	$ 122.8
Interest-sensitive life
Policyholder Account Balance [Roll Forward]
Balance, beginning of period excluding contracts 100% ceded	1,255.2	1,209.6
Issuances (funds collected from new business)	9.7	9.5
Premiums received (premiums collected from inforce business)	52.4	50.3
Policy charges	(48.2)	(46.1)
Surrenders and withdrawals	(8.1)	(8.2)
Benefit payments	(5.4)	(6)
Interest credited	15.2	8.1
Other	(0.1)	0
Balance, end of period excluding contracts 100% ceded	1,270.7	1,217.2
Balance, end of period for contracts 100% ceded	102.9	110.7
Policyholder account balances	1,373.6	1,327.9
Balance, end of period, reinsurance ceded	(121)	(130.5)
Balance, end of period, net of reinsurance	$ 1,252.6	$ 1,197.4
Weighted average crediting rate	4.30%	3.10%
Cash surrender value, net of reinsurance	$ 1,027.7	$ 977.1
Net amount at risk	28,672.9	26,865.3
Funding agreements
Policyholder Account Balance [Roll Forward]
Balance, beginning of period excluding contracts 100% ceded	1,411	1,410.8
Issuances (funds collected from new business)	0	0
Premiums received (premiums collected from inforce business)	0	0
Policy charges	0	0
Surrenders and withdrawals	(9.9)	(9.9)
Benefit payments	0	0
Interest credited	7.2	7.2
Other	0	0
Balance, end of period excluding contracts 100% ceded	1,408.3	1,408.1
Balance, end of period for contracts 100% ceded	0	0
Policyholder account balances	1,408.3	1,408.1
Balance, end of period, reinsurance ceded	0	0
Balance, end of period, net of reinsurance	$ 1,408.3	$ 1,408.1
Weighted average crediting rate	2%	2%
Cash surrender value, net of reinsurance	$ 0	$ 0
Other
Policyholder Account Balance [Roll Forward]
Balance, beginning of period excluding contracts 100% ceded	381	395.5
Issuances (funds collected from new business)	0	0
Premiums received (premiums collected from inforce business)	65.7	63
Policy charges	0	0
Surrenders and withdrawals	(74.5)	(72.6)
Benefit payments	0	0
Interest credited	0.7	0.7
Other	0	0
Balance, end of period excluding contracts 100% ceded	372.9	386.6
Balance, end of period for contracts 100% ceded	10.3	10.6
Policyholder account balances	383.2	397.2
Balance, end of period, reinsurance ceded	(24)	(24.8)
Balance, end of period, net of reinsurance	$ 359.2	$ 372.4
Weighted average crediting rate	0.80%	0.60%
Cash surrender value, net of reinsurance	$ 359.2	$ 372.4

LIABILITIES FOR INSURANCE PR_13

LIABILITIES FOR INSURANCE PRODUCTS - RECONCILIATION OF LIABILITY FOR POLICYHOLDER ACCOUNT BALANCES (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Policyholder Account Balance [Line Items]
Balance	$ 15,736.7	$ 15,667.8	$ 15,302.9
Fixed indexed annuities
Policyholder Account Balance [Line Items]
Balance	10,247.1		9,738.7
Fixed interest annuities
Policyholder Account Balance [Line Items]
Balance	2,189.9		2,281.9
Other annuities
Policyholder Account Balance [Line Items]
Balance	134.6		149.1
Interest-sensitive life
Policyholder Account Balance [Line Items]
Balance	1,373.6		1,327.9
Funding agreements
Policyholder Account Balance [Line Items]
Balance	1,408.3		1,408.1
Other
Policyholder Account Balance [Line Items]
Balance	$ 383.2		$ 397.2

LIABILITIES FOR INSURANCE PR_14

LIABILITIES FOR INSURANCE PRODUCTS - GUARANTEED MINIMUM CREDITING RATES (Details) $ in Millions	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 15,736.7	$ 15,667.8	$ 15,302.9
0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 1,757		$ 1,681.7
0.00%-2.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0%		0%
0.00%-2.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	2.99%		2.99%
3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 2,180.1		$ 2,350.6
3.00%-4.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3%		3%
3.00%-4.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	4.99%		4.99%
5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 144.2		$ 123.8
5.00% and greater | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5%		5%
At guaranteed minimum | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 171.5		$ 272.8
At guaranteed minimum | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	1,892.1		2,122.4
At guaranteed minimum | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 143.7		$ 123.3
1-50 basis points above | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0001		0.0001
1-50 basis points above | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0050		0.0050
1-50 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 579		$ 902.4
1-50 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	99.3		79.4
1-50 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0.5		$ 0.5
51-150 basis points above | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0051		0.0051
51-150 basis points above | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0150		0.0150
51-150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 238.4		$ 304.6
51-150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	183		148.5
51-150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0		$ 0
Greater than 150 basis points above | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0150		0.0150
Greater than 150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 768.1		$ 201.9
Greater than 150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	5.7		0.3
Greater than 150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Contracts Excluding Fixed Indexed Annuities
Policyholder Account Balance [Line Items]
Policyholder account balances	4,081.3		4,156.1
Contracts Excluding Fixed Indexed Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	2,207.3		2,518.5
Contracts Excluding Fixed Indexed Annuities | 1-50 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	678.8		982.3
Contracts Excluding Fixed Indexed Annuities | 51-150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	421.4		453.1
Contracts Excluding Fixed Indexed Annuities | Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	773.8		202.2
Fixed interest annuities
Policyholder Account Balance [Line Items]
Policyholder account balances	2,189.9		2,281.9
Fixed interest annuities | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 651		$ 591.8
Fixed interest annuities | 0.00%-2.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0%		0%
Fixed interest annuities | 0.00%-2.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	2.99%		2.99%
Fixed interest annuities | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 1,451.3		$ 1,599.8
Fixed interest annuities | 3.00%-4.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3%		3%
Fixed interest annuities | 3.00%-4.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	4.99%		4.99%
Fixed interest annuities | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 87.6		$ 90.3
Fixed interest annuities | 5.00% and greater | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5%		5%
Fixed interest annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 1,573.4		$ 1,807.2
Fixed interest annuities | At guaranteed minimum | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	105.2		144.9
Fixed interest annuities | At guaranteed minimum | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	1,380.6		1,572
Fixed interest annuities | At guaranteed minimum | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	87.6		90.3
Fixed interest annuities | 1-50 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	261.5		319.4
Fixed interest annuities | 1-50 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	211.9		291.7
Fixed interest annuities | 1-50 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	49.6		27.7
Fixed interest annuities | 1-50 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed interest annuities | 51-150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	248.9		78.4
Fixed interest annuities | 51-150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	233		78.3
Fixed interest annuities | 51-150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	15.9		0.1
Fixed interest annuities | 51-150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed interest annuities | Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	106.1		76.9
Fixed interest annuities | Greater than 150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	100.9		76.9
Fixed interest annuities | Greater than 150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	5.2		0
Fixed interest annuities | Greater than 150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities
Policyholder Account Balance [Line Items]
Policyholder account balances	134.6		149.1
Other annuities | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 55.7		$ 73.1
Other annuities | 0.00%-2.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0%		0%
Other annuities | 0.00%-2.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	2.99%		2.99%
Other annuities | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 44.4		$ 65.3
Other annuities | 3.00%-4.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3%		3%
Other annuities | 3.00%-4.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	4.99%		4.99%
Other annuities | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 34.5		$ 10.7
Other annuities | 5.00% and greater | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5%		5%
Other annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 110.5		$ 119.6
Other annuities | At guaranteed minimum | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	31.6		43.6
Other annuities | At guaranteed minimum | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	44.4		65.3
Other annuities | At guaranteed minimum | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	34.5		10.7
Other annuities | 1-50 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	24.1		29.5
Other annuities | 1-50 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	24.1		29.5
Other annuities | 1-50 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities | 1-50 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities | 51-150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities | 51-150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities | 51-150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities | 51-150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities | Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities | Greater than 150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities | Greater than 150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other annuities | Greater than 150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Interest-sensitive life
Policyholder Account Balance [Line Items]
Policyholder account balances	1,373.6		1,327.9
Interest-sensitive life | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 690.2		$ 643.6
Interest-sensitive life | 0.00%-2.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0%		0%
Interest-sensitive life | 0.00%-2.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	2.99%		2.99%
Interest-sensitive life | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 661.5		$ 661.9
Interest-sensitive life | 3.00%-4.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3%		3%
Interest-sensitive life | 3.00%-4.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	4.99%		4.99%
Interest-sensitive life | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 21.9		$ 22.4
Interest-sensitive life | 5.00% and greater | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5%		5%
Interest-sensitive life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 483.2		$ 549.9
Interest-sensitive life | At guaranteed minimum | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	17.6		66.5
Interest-sensitive life | At guaranteed minimum | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	444.2		461.5
Interest-sensitive life | At guaranteed minimum | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	21.4		21.9
Interest-sensitive life | 1-50 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	50.2		278
Interest-sensitive life | 1-50 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		225.8
Interest-sensitive life | 1-50 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	49.7		51.7
Interest-sensitive life | 1-50 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0.5		0.5
Interest-sensitive life | 51-150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	172.5		374.7
Interest-sensitive life | 51-150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	5.4		226.3
Interest-sensitive life | 51-150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	167.1		148.4
Interest-sensitive life | 51-150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Interest-sensitive life | Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	667.7		125.3
Interest-sensitive life | Greater than 150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	667.2		125
Interest-sensitive life | Greater than 150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0.5		0.3
Interest-sensitive life | Greater than 150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other
Policyholder Account Balance [Line Items]
Policyholder account balances	383.2		397.2
Other | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 360.1		$ 373.2
Other | 0.00%-2.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0%		0%
Other | 0.00%-2.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	2.99%		2.99%
Other | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 22.9		$ 23.6
Other | 3.00%-4.99% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3%		3%
Other | 3.00%-4.99% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	4.99%		4.99%
Other | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0.2		$ 0.4
Other | 5.00% and greater | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5%		5%
Other | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 40.2		$ 41.8
Other | At guaranteed minimum | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	17.1		17.8
Other | At guaranteed minimum | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	22.9		23.6
Other | At guaranteed minimum | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0.2		0.4
Other | 1-50 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	343		355.4
Other | 1-50 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	343		355.4
Other | 1-50 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other | 1-50 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other | 51-150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other | 51-150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other | 51-150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other | 51-150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other | Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other | Greater than 150 basis points above | 0.00%-2.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other | Greater than 150 basis points above | 3.00%-4.99%
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Other | Greater than 150 basis points above | 5.00% and greater
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed indexed annuities
Policyholder Account Balance [Line Items]
Policyholder account balances	10,247.1		9,738.7
Funding agreements
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 1,408.3		$ 1,408.1

DEFERRED ACQUISITION COSTS, P_3

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS - DEFERRED ACQUISITION COSTS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	$ 1,851.3	$ 1,690.4
Capitalizations	90.6	84.2
Amortization expense	(51.8)	(46.6)
End of period	1,890.1	1,728
Fixed indexed annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	407.6	365.6
Capitalizations	22.3	21.6
Amortization expense	(13.4)	(11.1)
End of period	416.5	376.1
Fixed interest annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	27	19.6
Capitalizations	3	2.5
Amortization expense	(1.1)	(0.9)
End of period	28.9	21.2
Supplemental health
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	408	378.8
Capitalizations	15	14.4
Amortization expense	(8.4)	(7.6)
End of period	414.6	385.6
Medicare supplement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	157.5	161.2
Capitalizations	6.3	5.8
Amortization expense	(6.7)	(7.2)
End of period	157.1	159.8
Long-term care
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	140.3	137.9
Capitalizations	5.2	3.4
Amortization expense	(3.7)	(3.8)
End of period	141.8	137.5
Interest-sensitive life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	234.5	212.2
Capitalizations	9.3	8.3
Amortization expense	(3.8)	(3.5)
End of period	240	217
Traditional life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	471.9	409.1
Capitalizations	29.5	28.2
Amortization expense	(14.3)	(12.2)
End of period	487.1	425.1
Funding agreements
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	4.5	6
Capitalizations	0	0
Amortization expense	(0.4)	(0.3)
End of period	$ 4.1	$ 5.7

DEFERRED ACQUISITION COSTS, P_4

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS - PRESENT VALUE OF FUTURE PROFITS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	$ 180.7	$ 203.7
Amortization expense	(5.2)	(6.1)
End of period	175.5	197.6
Supplemental health
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	141	154
Amortization expense	(3.1)	(3.3)
End of period	137.9	150.7
Medicare supplement
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	20.6	27.5
Amortization expense	(1.4)	(1.9)
End of period	19.2	25.6
Long-term care
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	5.2	6.2
Amortization expense	(0.2)	(0.3)
End of period	5	5.9
Traditional life
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	12.9	14.8
Amortization expense	(0.4)	(0.5)
End of period	12.5	14.3
Fixed indexed annuities
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	0.7	0.8
Amortization expense	(0.1)	(0.1)
End of period	0.6	0.7
Fixed interest annuities
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	0.3	0.4
Amortization expense	0	0
End of period	$ 0.3	$ 0.4

DEFERRED ACQUISITION COSTS, P_5

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS - SALES INDUCEMENTS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fixed indexed annuities
Movement in Deferred Sales Inducements [Roll Forward]
Beginning of period	$ 88.5	$ 76
Capitalizations	12.3	5.4
Amortization expense	(3.3)	(2.6)
End of period	97.5	78.8
Fixed interest annuities
Movement in Deferred Sales Inducements [Roll Forward]
Beginning of period	4.6	4.5
Capitalizations	0.3	0.2
Amortization expense	(0.2)	(0.2)
End of period	4.7	4.5
Annuity
Movement in Deferred Sales Inducements [Roll Forward]
Beginning of period	93.1	80.5
Capitalizations	12.6	5.6
Amortization expense	(3.5)	(2.8)
End of period	$ 102.2	$ 83.3

EARNINGS PER SHARE - BASIC AND

EARNINGS PER SHARE - BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income (loss) for basic earnings per share	$ 112.3	$ (0.8)
Net income (loss) for diluted earnings per share	$ 112.3	$ (0.8)
Shares:
Weighted average shares outstanding for basic earnings per share (in shares)	108,964	114,545
Effect of dilutive securities on weighted average shares:
Amounts related to employee benefit plans (in shares)	1,881	0
Weighted average shares outstanding for diluted earnings per share (in shares)	110,845	114,545
Common share equivalent excluded from computation of earnings per share (in shares)		2,182

BUSINESS SEGMENTS - NARRATIVE (

BUSINESS SEGMENTS - NARRATIVE (Details)	3 Months Ended
	Mar. 31, 2024 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	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Insurance policy income	$ 628.4	$ 625.5
Total segment revenues	1,136.7	1,000.5
Expenses:
Insurance policy benefits	631.4	609.7
Interest expense	60.2	54.7
Other expenses	278.3	271.7
Total segment expenses	1,061.9	924.1
Operating earnings before taxes	74.8	76.4
Income tax expense on operating income	17.3	17.8
Net operating income	57.5	58.6
Operating Segments
Revenues:
Total segment revenues	1,136.7	1,000.5
Expenses:
Total segment expenses	1,061.9	924.1
Insurance Product Lines
Expenses:
Allocated expenses	161.6	157.5
Total insurance product margin	229.6	221.2
Operating earnings before taxes	68	63.7
Investment income 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)	139.7	18.6
Investment income not allocated to product lines	71.6	67.8
Expenses:
Interest credited	7.2	7.2
Market value changes of options credited to fixed indexed annuity and life policyholders	139.7	18.6
Interest expense	48.3	37.4
Impact of annual option forfeitures related to fixed indexed annuity surrenders	(6.2)	0
Amortization	0.4	0.4
Other expenses	9.6	7.3
Total insurance product margin	12.3	15.5
Fee revenue
Revenues:
Fee revenue	50.5	51.3
Expenses:
Commissions and other operating expenses	39.2	35.8
Total insurance product margin	11.3	15.5
Amounts netted in expenses not allocated to product lines
Revenues:
Amounts netted in expenses not allocated to product lines	1.2	1.6
Expenses:
Expenses not allocated to product lines	18	19.9
Total insurance product margin	(16.8)	(18.3)
Annuity: | Insurance Product Lines
Revenues:
Insurance policy income	7.3	5.1
Net investment income	134.5	125.4
Total insurance product line revenue	141.8	130.5
Expenses:
Insurance policy benefits	11.3	8.7
Interest credited	58.3	48.1
Amortization and non-deferred commissions	20.2	16.4
Total expenses	89.8	73.2
Total insurance product margin	52	57.3
Health: | Insurance Product Lines
Revenues:
Insurance policy income	398.4	401.4
Net investment income	74.3	74
Total insurance product line revenue	472.7	475.4
Expenses:
Insurance policy benefits	308.5	318.1
Amortization and non-deferred commissions	41.2	40.8
Total expenses	349.7	358.9
Total insurance product margin	123	116.5
Life: | Insurance Product Lines
Revenues:
Insurance policy income	222.7	219
Net investment income	36.5	36.3
Total insurance product line revenue	259.2	255.3
Expenses:
Insurance policy benefits	144	147.2
Interest credited	12.5	12.1
Amortization and non-deferred commissions	48.1	48.6
Total expenses	204.6	207.9
Total insurance product margin	54.6	47.4
Allocated expenses | Insurance Product Lines
Expenses:
Total insurance product margin	$ (161.6)	$ (157.5)

BUSINESS SEGMENTS - RECONCILIAT

BUSINESS SEGMENTS - RECONCILIATION OF OPERATING PROFIT (LOSS) FROM SEGMENTS TO CONSOLIDATED (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Total segment revenues	$ 1,136.7	$ 1,000.5
Total investment gains (losses)	(10)	(14.6)
Total revenues	1,156.5	1,006
Total segment expenses	1,061.9	924.1
Total benefits and expenses	1,010.3	1,007
Income (loss) before income taxes	146.2	(1)
Income tax expense (benefit)	33.9	(0.2)
Net income (loss)	112.3	(0.8)
Operating Segments
Segment Reporting Information [Line Items]
Total segment revenues	1,136.7	1,000.5
Total segment expenses	1,061.9	924.1
Segment Reconciling Items
Segment Reporting Information [Line Items]
Total investment gains (losses)	7.8	(14.6)
Revenues related to earnings attributable to VIEs	12	20.1
Insurance policy benefits - fair value changes in embedded derivative liabilities	(64)	65.1
Expenses attributable to VIEs	$ 12.4	$ 17.8

ACCOUNTING FOR DERIVATIVES - FA

ACCOUNTING FOR DERIVATIVES - FAIR VALUE BY BALANCE SHEET LOCATION (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fixed indexed call options
Derivatives, Fair Value [Line Items]
Fixed indexed call options	$ 355	$ 239.2
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total assets	337.8	221.7
Total liabilities	1,426.8	1,376.7
Not Designated as Hedging Instrument | Fixed indexed call options | Other invested assets
Derivatives, Fair Value [Line Items]
Fixed indexed call options	355	239.2
Not Designated as Hedging Instrument | Reinsurance receivables | Reinsurance receivables
Derivatives, Fair Value [Line Items]
Reinsurance receivables	(17.2)	(17.5)
Not Designated as Hedging Instrument | Embedded derivatives related to fixed indexed annuities at fair value | Policyholder account balances
Derivatives, Fair Value [Line Items]
Total liabilities	1,645.3	1,651.6
Not Designated as Hedging Instrument | Embedded derivatives related to fixed indexed annuities at fair value | Future policy benefits
Derivatives, Fair Value [Line Items]
Total liabilities	$ (218.5)	$ (274.9)

ACCOUNTING FOR DERIVATIVES - NA

ACCOUNTING FOR DERIVATIVES - NARRATIVE (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Embedded derivative	$ 81
Fixed Index Call Options
Derivative [Line Items]
Notional amount	$ 3,600	$ 3,300

ACCOUNTING FOR DERIVATIVES - SC

ACCOUNTING FOR DERIVATIVES - SCHEDULE PRE-TAX GAINS (LOSSES) RECOGNIZED IN NET INCOME FOR DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative [Line Items]
Gains on derivatives not designated as hedging instruments	$ 140.5	$ 20
Net pre-tax impact	140.5	(44.9)
Embedded derivatives
Derivative [Line Items]
Embedded derivatives related to fixed indexed annuities	(11.3)	0.3
Embedded derivatives | Fixed indexed annuities
Derivative [Line Items]
Embedded derivatives related to fixed indexed annuities	0	64.9
Net investment income from policyholder and other special-purpose portfolios | Fixed indexed call options
Derivative [Line Items]
Gains on derivatives not designated as hedging instruments	140.2	18.6
Net realized gains (losses) | Embedded derivatives | Coinsurance agreements
Derivative [Line Items]
Gains on derivatives not designated as hedging instruments	$ 0.3	$ 1.4

ACCOUNTING FOR DERIVATIVES - DE

ACCOUNTING FOR DERIVATIVES - DERIVATIVES WITH MASTER NETTING ARRANGEMENTS (Details) - Fixed indexed call options - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Gross amounts recognized	$ 355	$ 239.2
Gross amounts offset in the balance sheet	0	0
Net amounts of assets presented in the balance sheet	355	239.2
Non-cash collateral	76	37
Cash collateral received	0	0
Net amount	$ 279	$ 202.2

REINSURANCE (Details)

REINSURANCE (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Insurance [Abstract]
Ceded premiums written	$ 46	$ 48.3
Reinsurance recoveries benefits	105.8	134.9
Assumed premiums written	4.1	4.1
Insurance policy benefits related to reinsurance assumed	$ 5.9	$ 4.7

INCOME TAXES - COMPONENTS OF TA

INCOME TAXES - COMPONENTS OF TAX EXPENSE (BENEFIT) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Current tax expense	$ 17.3	$ 14
Deferred tax expense (benefit)	16.6	(14.2)
Total income tax expense (benefit)	$ 33.9	$ (0.2)

INCOME TAXES - RECONCILIATION O

INCOME TAXES - RECONCILIATION OF CORPORATE TAX RATE (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
U.S. statutory corporate rate	21%	21%
Non-taxable income and nondeductible benefits, net	0%	(0.40%)
State taxes	2.20%	2.70%
Effective tax rate	23.20%	23.30%

INCOME TAXES - DEFERRED ASSETS

INCOME TAXES - DEFERRED ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Net federal operating loss carryforwards	$ 268.3	$ 77.1
Net state operating loss carryforwards	42.8	2.5
Insurance liabilities	318.8	322.8
Indirect costs allocable to self-constructed real estate assets	0	252.9
Accumulated other comprehensive loss	419	445.5
Other	47.8	35.6
Gross deferred tax assets	1,096.7	1,136.4
Deferred tax liabilities:
Investments	(35)	(36.3)
Present value of future profits and deferred acquisition costs	(167.7)	(163)
Gross deferred tax liabilities	(202.7)	(199.3)
Net deferred tax assets	894	937.1
Current income taxes accrued	(7.9)	(0.9)
Income tax assets, net	$ 886.1	$ 936.2

INCOME TAXES - NARRATIVE (Detai

INCOME TAXES - NARRATIVE (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Operating Loss Carryforwards [Line Items]
Reporting a tax loss	$ 987
Deferred tax assets more likely than not to be realized through future taxable earnings	$ 894	$ 937.1
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	3.44%
Ownership change threshold restricting NOL usage	50%
Net state operating loss carryforwards	$ 42.8	$ 2.5
Federal
Operating Loss Carryforwards [Line Items]
Net federal operating loss carryforwards	$ 1,300

INCOME TAXES - NET OPERATING LO

INCOME TAXES - NET OPERATING LOSSES (Details) $ in Millions	Mar. 31, 2024 USD ($)
Operating Loss Carryforwards [Line Items]
Total federal non-life NOLs	$ 1,277.8
2026
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	15.8
2027
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	10.8
2028 through 2035
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	340.7
No expiration date
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 910.5

NOTES PAYABLE - DIRECT CORPOR_3

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Outstanding principal	$ 1,141	$ 1,140.5
Unamortized debt issue costs	$ (9)	(9.5)
Senior Notes | 5.250% Senior Notes due May 2025
Debt Instrument [Line Items]
Interest rate	5.25%
Outstanding principal	$ 500	500
Senior Notes | 5.250% Senior Notes due May 2029
Debt Instrument [Line Items]
Interest rate	5.25%
Outstanding principal	$ 500	500
Subordinated Debt | 5.125% Subordinated Debentures due November 2060
Debt Instrument [Line Items]
Interest rate	5.125%
Outstanding principal	$ 150	150
Revolving Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding principal	$ 0	$ 0

NOTES PAYABLE - DIRECT CORPOR_4

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS - NARRATIVE (Details) - USD ($)	Jul. 16, 2021	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Outstanding amount		$ 1,141,000,000	$ 1,140,500,000
Line of Credit | Revolving Credit Agreement
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 250,000,000
Total capitalization percentage	15%
Debt covenant, required minimum debt to total capitalization ratio	35%
Debt covenant, actual debt to total capitalization ratio at period end		21.40%
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		$ 3,848,000,000
Debt covenant, required minimum consolidated net worth, amount		2,697,200,000
Outstanding amount		$ 0	$ 0
Line of Credit | Revolving Credit Agreement | SOFR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.375%
Line of Credit | Revolving Credit Agreement | SOFR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.125%
Line of Credit | Revolving Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.375%
Line of Credit | Revolving Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Line of Credit | Revolving Credit Agreement | Credit Spread Adjustment (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate	0.10%

INVESTMENT BORROWINGS - NARRATI

INVESTMENT BORROWINGS - NARRATIVE (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) subsidiary	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Number of insurance subsidiaries that are members of the FHLB | subsidiary	3
Investment borrowings	$ 2,189.1		$ 2,189.3
Interest expense on FHLB borrowings	31.4	$ 21.7
Federal Home Loan Bank Advances
Debt Instrument [Line Items]
Federal home loan bank stock	94.6
Investment borrowings	2,189.1
Federal home loan bank advances, collateral pledged	$ 2,700

INVESTMENT BORROWINGS - TERMS O

INVESTMENT BORROWINGS - TERMS OF THE BORROWINGS FROM THE FHLB (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 2,189.1	$ 2,189.3
Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	2,189.1
Borrowings due July 2024 at 1.990% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 15.5
Interest rate	1.99%
Borrowings Due August 2024 at 0.640% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 27
Interest rate	0.64%
Borrowings due May 2025 at 5.724% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 21.7
Interest rate	5.724%
Borrowings Due June 2025 at 2.940% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 17.9
Interest rate	2.94%
Borrowings Due June 2025 at 5.900% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 12.5
Interest rate	5.90%
Borrowings due September 2025 at 5.680% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 125
Interest rate	5.68%
Borrowings due October 2025 at 5.865% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100
Interest rate	5.865%
Borrowings due October 2025 at 5.860% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100
Interest rate	5.86%
Borrowings due October 2025 at 5.830% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 57.7
Interest rate	5.83%
Borrowings due November 2025 at 5.818% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.818%
Borrowings Due December 2025 at 5.916% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 12.5
Interest rate	5.916%
Borrowings due January 2026 at 5.781% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.781%
Borrowings due January 2026 at 5.763% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.763%
Borrowings due January 2026 at 5.783% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100
Interest rate	5.783%
Borrowings Due January 2026 at 5.997% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 15
Interest rate	5.997%
Borrowings due May 2026 at 5.673% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 21.8
Interest rate	5.673%
Borrowings due May 2026 at 5.600% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.60%
Borrowings Due December 2026 at 5.752% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 75
Interest rate	5.752%
Borrowings Due January 2027 at 5.683% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 75
Interest rate	5.683%
Borrowings Due January 2027 at 5.798% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.798%
Borrowings Due January 2027 at 5.798% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.798%
Borrowings Due January 2027 at 5.744% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100
Interest rate	5.744%
Borrowings Due February 2027 at 5.770% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100
Interest rate	5.77%
Borrowings due April 2027 at 5.648% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.648%
Borrowings due May 2027 at 5.658% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.658%
Borrowings due June 2027 at 5.700% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100
Interest rate	5.70%
Borrowings due June 2027 at 5.923% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 10
Interest rate	5.923%
Borrowings Due July 2027 at 6.018% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	6.018%
Borrowings Due July 2027 at 6.028% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	6.028%
Borrowings Due August 2027 at 6.044% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100
Interest rate	6.044%
Borrowings Due January 2028 at 5.784% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 75
Interest rate	5.784%
Borrowings Due January 2028 at 5.838% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.838%
Borrowings Due January 2028 at 5.855% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50
Interest rate	5.855%
Borrowings Due February 2028 at 5.904% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 34.5
Interest rate	5.904%
Borrowings Due February 2028 at 5.825% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100
Interest rate	5.825%
Borrowings Due February 2028 at 5.775% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 21
Interest rate	5.775%
Borrowings Due February 2028 at 5.818% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 22
Interest rate	5.818%
Borrowings Due February 2028 at 5.790% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100
Interest rate	5.79%
Borrowings Due July 2028 at 5.710% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 15
Interest rate	5.71%
Borrowings Due August 2028 at 5.720% | Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 35
Interest rate	5.72%

SHAREHOLDERS' EQUITY - NARRATIV

SHAREHOLDERS' EQUITY - NARRATIVE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions			3 Months Ended
	May 06, 2024	Apr. 02, 2024	Mar. 31, 2024	Mar. 31, 2023
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased			$ 40	$ 15.1
Stock repurchase program, remaining repurchase authorized amount			481.8
Common stock dividends declared			$ 16.4	$ 16.4
Dividends (in dollars per share)			$ 0.15
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased		$ 0.8
Common stock
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired during period (in shares)			1,483	633
Employee benefit plans, net of shares used to pay tax withholdings (in shares)			694	1,195
Dividends (in dollars per share)			$ 0.15
Common stock | Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Dividends (in dollars per share)	$ 0.16

SHAREHOLDERS' EQUITY - SCHEDULE

SHAREHOLDERS' EQUITY - SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Equity [Abstract]
Net unrealized losses on investments having no allowance for credit losses	$ (1,267.2)	$ (1,235.2)
Unrealized losses on investments with an allowance for credit losses	(1,006.3)	(931)
Change in discount rates for liability for future policy benefits	365.1	133.4
Change in instrument-specific credit risk for market risk benefits	3.4	4.8
Deferred income tax assets	424.7	451.2
Accumulated other comprehensive loss	$ (1,480.3)	$ (1,576.8)

LITIGATION AND OTHER LEGAL PR_2

LITIGATION AND OTHER LEGAL PROCEEDINGS (Details)	Mar. 25, 2022 policyholder
Commitments and Contingencies Disclosure [Abstract]
Number of policyholders	2,000

CONSOLIDATED STATEMENT OF CAS_4

CONSOLIDATED STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 112.3	$ (0.8)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Amortization and depreciation	70.4	65.7
Income taxes	23.8	(6.4)
Insurance liabilities	156.6	173.3
Accrual, amortization and fair value changes included in investment income	(134.8)	(27.9)
Deferral of policy acquisition costs	(103.2)	(89.8)
Net investment (gains) losses	(7.8)	14.6
Other	(22.7)	(46.8)
Net cash from operating activities	94.6	81.9
Amounts related to employee benefit plans	$ 6.1	$ 6.5

INVESTMENTS IN VARIABLE INTER_3

INVESTMENTS IN VARIABLE INTEREST ENTITIES - BALANCE SHEET ITEMS (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets:
Investments held by variable interest entities	$ 533.4	$ 768.6
Cash and cash equivalents held by variable interest entities	83.5	114.5
Accrued investment income	252	251.5
Income tax assets, net	886.1	936.2
Total assets	34,939.7	35,102.5
Liabilities:
Other liabilities	905	848.8
Borrowings related to variable interest entities	565.5	820.8
Total liabilities	32,572	32,886.9
Variable Interest Entity, Primary Beneficiary
Assets:
Investments held by variable interest entities	533.4	768.6
Notes receivable of VIEs held by subsidiaries	(104.9)	(113.8)
Cash and cash equivalents held by variable interest entities	83.5	114.5
Accrued investment income	1.7	2.7
Income tax assets, net	12.5	13
Other assets	0.4	(0.7)
Total assets	526.6	784.3
Liabilities:
Other liabilities	8.1	12.4
Borrowings related to variable interest entities	565.5	820.8
Notes payable of VIEs held by subsidiaries	0	0
Total liabilities	573.6	833.2
Variable Interest Entity, Primary Beneficiary | VIEs
Assets:
Investments held by variable interest entities	533.4	768.6
Notes receivable of VIEs held by subsidiaries	0	0
Cash and cash equivalents held by variable interest entities	83.5	114.5
Accrued investment income	1.7	2.7
Income tax assets, net	12.5	13
Other assets	0.9	0
Total assets	632	898.8
Liabilities:
Other liabilities	11	14.6
Borrowings related to variable interest entities	565.5	820.8
Notes payable of VIEs held by subsidiaries	106.1	126.1
Total liabilities	682.6	961.5
Variable Interest Entity, Primary Beneficiary | Eliminations
Assets:
Investments held by variable interest entities	0	0
Notes receivable of VIEs held by subsidiaries	(104.9)	(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	(0.5)	(0.7)
Total assets	(105.4)	(114.5)
Liabilities:
Other liabilities	(2.9)	(2.2)
Borrowings related to variable interest entities	0	0
Notes payable of VIEs held by subsidiaries	(106.1)	(126.1)
Total liabilities	$ (109)	$ (128.3)

INVESTMENTS IN VARIABLE INTER_4

INVESTMENTS IN VARIABLE INTEREST ENTITIES - NARRATIVE (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) investment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Variable Interest Entity [Line Items]
Total amortized cost	$ 547.2
Variable interest entity, gross unrealized gains fixed maturity securities	1.7
Variable interest entity gross unrealized losses fixed maturity securities	11.2
Variable interest entity, allowance for credit losses fixed maturity securities	4.3
Estimated fair value of fixed maturity securities	533.4
Variable interest entities net realized gain (losses) on investments	(3.6)	$ (0.6)
Variable interest entities net loss from sale of fixed maturity investments	(6.2)	(2.6)
Gain on liquidation of variable interest entity	3.8	0
Variable interest entities, change in allowance for current expected credit losses	1.2	(2)
Variable interest entity, gross investment losses	6.9	0.8
Variable interest entities, investments sold	$ 81.3	$ 11.7
Number of investments held by VIE, in default | investment	0
Fair value of investments in unrealized loss position for less than 12 months	$ 1,673.3		$ 1,169.9
Gross unrealized losses of investments in unrealized loss position for less than 12 months	21.3		24.5
Fair value of investments in unrealized loss position for more than 12 months	10,761.4		10,886.4
Gross unrealized losses of investments in unrealized loss position for more than 12 months	1,371.7		1,365
Investments held in limited partnerships	490.4
Unfunded commitments to limited partnerships	373.1
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Fair value of investments in unrealized loss position for less than 12 months	35.7		24.8
Gross unrealized losses of investments in unrealized loss position for less than 12 months	0.1		0.1
Fair value of investments in unrealized loss position for more than 12 months	171.2		302.3
Gross unrealized losses of investments in unrealized loss position for more than 12 months	$ 3.1		$ 8.7

INVESTMENTS IN VARIABLE INTER_5

INVESTMENTS IN VARIABLE INTEREST ENTITIES - CHANGES IN ALLOWANCE (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	$ 42.9	$ 56
Additions for securities for which credit losses were not previously recorded	2.2	3
Additions (reductions) for securities where an allowance was previously recorded	(6)	0.8
Reduction for securities sold during the period	(0.1)	(0.7)
Allowance at the end of the period	39	59.1
Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	41.7	54.4
Additions for securities for which credit losses were not previously recorded	2.2	3
Additions (reductions) for securities where an allowance was previously recorded	(6.1)	0.5
Reduction for securities sold during the period	(0.1)	(0.7)
Allowance at the end of the period	37.7	57.2
Variable Interest Entity, Primary Beneficiary | Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	3.1	5.5
Additions for securities for which credit losses were not previously recorded	0.3	0.3
Additions (reductions) for securities where an allowance was previously recorded	1.7	(0.7)
Reduction for securities sold during the period	(0.8)	(1.6)
Allowance at the end of the period	$ 4.3	$ 3.5

INVESTMENTS IN VARIABLE INTER_6

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Amortized cost
Due in one year or less	$ 324.8
Due after one year through five years	2,278.8
Due after five years through ten years	1,529.8
Amortized cost	23,950.8
Estimated fair value
Due in one year or less	314.6
Due after one year through five years	2,175.7
Due after five years through ten years	1,450.2
Estimated fair value	21,648.1	$ 21,506.2
Variable Interest Entity, Primary Beneficiary
Amortized cost
Due in one year or less	13.7
Due after one year through five years	506.7
Due after five years through ten years	26.8
Amortized cost	547.2
Estimated fair value
Due in one year or less	13.2
Due after one year through five years	493.5
Due after five years through ten years	26.7
Estimated fair value	$ 533.4

FAIR VALUE MEASUREMENTS - NARRA

FAIR VALUE MEASUREMENTS - NARRATIVE (Details)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair value of level 3 fixed maturity securities and trading securities valued using broker quotes, percentage	93%
Available for sale fixed maturities classified as level 3, investment grade, percent	72%
Available for sale fixed maturities classified as Level 3 and corporate securities	85%

FAIR VALUE MEASUREMENTS - MEASU

FAIR VALUE MEASUREMENTS - MEASUREMENTS BY INPUT LEVEL (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Assets:
Total fixed maturities, available for sale	$ 21,648.1	$ 21,506.2
Equity securities - corporate securities	118.4	96.9
Total trading securities	222.8	222.7
Investments held by variable interest entities - corporate securities	533.4	768.6
Total other invested assets	1,471.3	1,353.4
Market risk benefit asset	84.1	75.4	$ 57.8
Assets held in separate accounts	3.3	3.1
Liabilities:
Market risk benefit liability	3.8	7.4	$ 17.6
Corporate securities
Assets:
Total fixed maturities, available for sale	11,638.9	11,837.5
United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Total fixed maturities, available for sale	214.4	194.4
States and political subdivisions
Assets:
Total fixed maturities, available for sale	2,703.4	2,566.7
Foreign governments
Assets:
Total fixed maturities, available for sale	82.3	83.1
Asset-backed securities
Assets:
Total fixed maturities, available for sale	1,453.9	1,372.4
Agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	687.7	648
Non-agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	1,559.8	1,553.2
Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	1,145.6	1,032.8
Commercial mortgage-backed securities
Assets:
Total fixed maturities, available for sale	2,162.1	2,218.1
Significant unobservable inputs  (Level 3)
Assets:
Total assets carried at fair value by category	382	377.5
Fair Value, Measurements, Recurring
Assets:
Total trading securities	222.8	222.7
Investments held by variable interest entities - corporate securities	533.4	768.6
Derivatives	355	239.2
Residual tranches	54.8	39
Total other invested assets	409.8	278.2
Market risk benefit asset	84.1	75.4
Assets held in separate accounts	3.3	3.1
Total assets carried at fair value by category	23,019.9	22,951.1
Liabilities:
Market risk benefit liability	3.8	7.4
Embedded derivatives associated with fixed indexed annuity products	1,426.8	1,376.7
Total liabilities carried at fair value by category	1,430.6	1,384.1
Fair Value, Measurements, Recurring | Corporate securities
Assets:
Total fixed maturities, available for sale	11,638.9	11,837.5
Equity securities - corporate securities	118.4	96.9
Fair Value, Measurements, Recurring | United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Total fixed maturities, available for sale	214.4	194.4
Fair Value, Measurements, Recurring | States and political subdivisions
Assets:
Total fixed maturities, available for sale	2,703.4	2,566.7
Fair Value, Measurements, Recurring | Foreign governments
Assets:
Total fixed maturities, available for sale	82.3	83.1
Fair Value, Measurements, Recurring | Asset-backed securities
Assets:
Total fixed maturities, available for sale	1,453.9	1,372.4
Total trading securities	31.2	32.8
Fair Value, Measurements, Recurring | Agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	687.7	648
Total trading securities	3.4	3.5
Fair Value, Measurements, Recurring | Non-agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	1,559.8	1,553.2
Total trading securities	57.4	58.5
Fair Value, Measurements, Recurring | Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	1,145.6	1,032.8
Total trading securities	9.1	9
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Assets:
Total fixed maturities, available for sale	2,162.1	2,218.1
Total trading securities	121.7	118.9
Fair Value, Measurements, Recurring | Total Fixed Maturities, Available For Sale
Assets:
Total fixed maturities, available for sale	21,648.1	21,506.2
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1)
Assets:
Total trading securities	0	0
Investments held by variable interest entities - corporate securities	0	0
Derivatives	0	0
Residual tranches	0	0
Total other invested assets	0	0
Market risk benefit asset	0	0
Assets held in separate accounts	0	0
Total assets carried at fair value by category	45.8	24.2
Liabilities:
Market risk benefit liability	0	0
Embedded derivatives associated with fixed indexed annuity products	0	0
Total liabilities carried at fair value by category	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Corporate securities
Assets:
Total fixed maturities, available for sale	0	0
Equity securities - corporate securities	45.8	24.2
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:
Total fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | States and political subdivisions
Assets:
Total fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Foreign governments
Assets:
Total fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Asset-backed securities
Assets:
Total fixed maturities, available for sale	0	0
Total 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:
Total fixed maturities, available for sale	0	0
Total 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:
Total fixed maturities, available for sale	0	0
Total trading securities	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	0	0
Total trading securities	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Commercial mortgage-backed securities
Assets:
Total fixed maturities, available for sale	0	0
Total 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:
Total fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)
Assets:
Total trading securities	222.8	222.7
Investments held by variable interest entities - corporate securities	533.4	768.6
Derivatives	355	239.2
Residual tranches	2.6	7.5
Total other invested assets	357.6	246.7
Market risk benefit asset	0	0
Assets held in separate accounts	3.3	3.1
Total assets carried at fair value by category	22,592.1	22,549.4
Liabilities:
Market risk benefit liability	0	0
Embedded derivatives associated with fixed indexed annuity products	0	0
Total liabilities carried at fair value by category	0	0
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Corporate securities
Assets:
Total fixed maturities, available for sale	11,491.4	11,678.2
Equity securities - corporate securities	0	0
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Total fixed maturities, available for sale	214.4	194.4
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | States and political subdivisions
Assets:
Total fixed maturities, available for sale	2,703.4	2,566.7
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Foreign governments
Assets:
Total fixed maturities, available for sale	82.3	83.1
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Asset-backed securities
Assets:
Total fixed maturities, available for sale	1,428.3	1,346.9
Total trading securities	31.2	32.8
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	687.7	648
Total trading securities	3.4	3.5
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Non-agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	1,559.8	1,553.2
Total trading securities	57.4	58.5
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	1,145.6	1,032.8
Total trading securities	9.1	9
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Commercial mortgage-backed securities
Assets:
Total fixed maturities, available for sale	2,162.1	2,205
Total trading securities	121.7	118.9
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Total Fixed Maturities, Available For Sale
Assets:
Total fixed maturities, available for sale	21,475	21,308.3
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3)
Assets:
Total trading securities	0	0
Investments held by variable interest entities - corporate securities	0	0
Derivatives	0	0
Residual tranches	52.2	31.5
Total other invested assets	52.2	31.5
Market risk benefit asset	84.1	75.4
Assets held in separate accounts	0	0
Total assets carried at fair value by category	382	377.5
Liabilities:
Market risk benefit liability	3.8	7.4
Embedded derivatives associated with fixed indexed annuity products	1,426.8	1,376.7
Total liabilities carried at fair value by category	1,430.6	1,384.1
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Corporate securities
Assets:
Total fixed maturities, available for sale	147.5	159.3
Equity securities - corporate securities	72.6	72.7
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Total fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | States and political subdivisions
Assets:
Total fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Foreign governments
Assets:
Total fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Asset-backed securities
Assets:
Total fixed maturities, available for sale	25.6	25.5
Total trading securities	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	0	0
Total trading securities	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Non-agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	0	0
Total trading securities	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	0	0
Total trading securities	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Commercial mortgage-backed securities
Assets:
Total fixed maturities, available for sale	0	13.1
Total trading securities	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3) | Total Fixed Maturities, Available For Sale
Assets:
Total fixed maturities, available for sale	$ 173.1	$ 197.9

FAIR VALUE MEASUREMENTS - RECUR

FAIR VALUE MEASUREMENTS - RECURRING BASIS (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Cash and cash equivalents:
Held by variable interest entities	$ 83.5	$ 114.5
Fair Value, Measurements, Recurring | Total estimated fair value
Assets:
Mortgage loans	1,930.8	1,926.9
Policy loans	130.3	128.5
Other invested assets:
Company-owned life insurance	305.2	303
Cash and cash equivalents:
Unrestricted	566.3	774.5
Held by variable interest entities	83.5	114.5
Liabilities:
Policyholder account balances	15,736.7	15,667.8
Future policy benefits	(218.4)	(274.9)
Investment borrowings	2,189.8	2,190.2
Borrowings related to variable interest entities	564.3	814.8
Notes payable – direct corporate obligations	1,115.8	1,097.3
Fair Value, Measurements, Recurring | Total carrying amount
Assets:
Mortgage loans	2,087.1	2,064.1
Policy loans	130.3	128.5
Other invested assets:
Company-owned life insurance	305.2	303
Cash and cash equivalents:
Unrestricted	566.3	774.5
Held by variable interest entities	83.5	114.5
Liabilities:
Policyholder account balances	15,736.7	15,667.8
Future policy benefits	(218.4)	(274.9)
Investment borrowings	2,189.1	2,189.3
Borrowings related to variable interest entities	565.5	820.8
Notes payable – direct corporate obligations	1,141	1,140.5
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	566.3	774.5
Held by variable interest entities	83.5	114.5
Liabilities:
Policyholder account balances	0	0
Future policy benefits	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	305.2	303
Cash and cash equivalents:
Unrestricted	0	0
Held by variable interest entities	0	0
Liabilities:
Policyholder account balances	0	0
Future policy benefits	0	0
Investment borrowings	2,189.8	2,190.2
Borrowings related to variable interest entities	564.3	814.8
Notes payable – direct corporate obligations	1,115.8	1,097.3
Fair Value, Measurements, Recurring | Significant unobservable inputs  (Level 3)
Assets:
Mortgage loans	1,930.8	1,926.9
Policy loans	130.3	128.5
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 balances	15,736.7	15,667.8
Future policy benefits	(218.4)	(274.9)
Investment borrowings	0	0
Borrowings related to variable interest entities	0	0
Notes payable – direct corporate obligations	$ 0	$ 0

FAIR VALUE MEASUREMENTS - BALAN

FAIR VALUE MEASUREMENTS - BALANCE SHEET RECURRING (Details) - Significant unobservable inputs  (Level 3) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Corporate securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 159.3	$ 127.8
Purchases, sales, issuances and settlements, net	6.7	(0.5)
Total realized and unrealized gains (losses) included in net income	4.4	0.1
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(5.9)	0.9
Transfers into level 3	0	5.9
Transfers out of level 3	(17)	(6.4)
Ending balance	147.5	127.8
Amount of total gains (losses) included in our net income relating to assets still held as of the reporting date	4.4	0.1
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	(6.7)	0.1
Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	25.5	57
Purchases, sales, issuances and settlements, net	(0.2)	(5.1)
Total realized and unrealized gains (losses) included in net income	0	(0.2)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0.3	(0.2)
Transfers into level 3	0	0
Transfers out of level 3	0	(10.4)
Ending balance	25.6	41.1
Amount of total gains (losses) 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	0.2	(0.5)
Non-agency residential mortgage-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		56.2
Purchases, sales, issuances and settlements, net		(0.2)
Total realized and unrealized gains (losses) included in net income		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		2.3
Transfers into level 3		0
Transfers out of level 3		(24.5)
Ending balance		33.8
Amount of total gains (losses) 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		2.4
Collateralized loan obligations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		3.4
Purchases, sales, issuances and settlements, net		0
Total realized and unrealized gains (losses) included in net income		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		0
Transfers into level 3		0
Transfers out of level 3		(3.4)
Ending balance		0
Amount of total gains (losses) 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		0
Commercial mortgage-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	13.1	14.5
Purchases, sales, issuances and settlements, net	0	0
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	(0.7)
Transfers into level 3	0	0
Transfers out of level 3	(13.1)	0
Ending balance	0	13.8
Amount of total gains (losses) 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	(0.7)
Total Fixed Maturities, Available For Sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	197.9	258.9
Purchases, sales, issuances and settlements, net	6.5	(5.8)
Total realized and unrealized gains (losses) included in net income	4.4	(0.1)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(5.6)	2.3
Transfers into level 3	0	5.9
Transfers out of level 3	(30.1)	(44.7)
Ending balance	173.1	216.5
Amount of total gains (losses) included in our net income relating to assets still held as of the reporting date	4.4	0.1
Amount of total gains (losses) included in accumulated other comprehensive income (loss) relating to assets still held as of the reporting date	(6.5)	1.3
Equity securities - corporate securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	72.7	75.7
Purchases, sales, issuances and settlements, net	0	0
Total realized and unrealized gains (losses) included in net income	(0.1)	(0.7)
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	72.6	75
Amount of total gains (losses) included in our net income relating to assets still held as of the reporting date	(0.1)	(0.7)
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
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		0.5
Purchases, sales, issuances and settlements, net		0
Total realized and unrealized gains (losses) included in net income		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		0
Transfers into level 3		0
Transfers out of level 3		0
Ending balance		0.5
Amount of total gains (losses) 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		0
Other invested assets - residual tranches
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	31.5	18.3
Purchases, sales, issuances and settlements, net	7.9	0.5
Total realized and unrealized gains (losses) included in net income	6.4	0.4
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	0
Transfers into level 3	6.4	0
Transfers out of level 3	0	0
Ending balance	52.2	19.2
Amount of total gains (losses) included in our net income relating to assets still held as of the reporting date	6.4	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

FAIR VALUE MEASUREMENTS - FAIR

FAIR VALUE MEASUREMENTS - FAIR VALUE ACTIVITY (Details) - Significant unobservable inputs  (Level 3) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Corporate securities
Assets:
Purchases	$ 6.8	$ 0.9
Sales	(0.1)	(1.4)
Issuances	0	0
Settlements	0	0
Purchases, sales, issuances and settlements, net	6.7	(0.5)
Asset-backed securities
Assets:
Purchases	0	2.3
Sales	(0.2)	(7.4)
Issuances	0	0
Settlements	0	0
Purchases, sales, issuances and settlements, net	(0.2)	(5.1)
Non-agency residential mortgage-backed securities
Assets:
Purchases		0
Sales		(0.2)
Issuances		0
Settlements		0
Purchases, sales, issuances and settlements, net		(0.2)
Commercial mortgage-backed securities
Assets:
Purchases, sales, issuances and settlements, net	0	0
Total Fixed Maturities, Available For Sale
Assets:
Purchases	6.8	3.2
Sales	(0.3)	(9)
Issuances	0	0
Settlements	0	0
Purchases, sales, issuances and settlements, net	6.5	(5.8)
Equity securities - corporate securities
Assets:
Purchases, sales, issuances and settlements, net	0	0
Other invested assets - residual tranches
Assets:
Purchases	9.2	0.7
Sales	(1.3)	(0.2)
Issuances	0	0
Settlements	0	0
Purchases, sales, issuances and settlements, net	$ 7.9	$ 0.5

FAIR VALUE MEASUREMENTS-CHANGES

FAIR VALUE MEASUREMENTS-CHANGES IN VALUE OF EMBEDDED DERIVATIVES (Details) - Fair Value, Inputs, Level 3 - Fixed Index Annuity Products - Fair Value, Measurements, Recurring - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Liabilities:
Balance at beginning of the period	$ 1,376.7	$ 1,297
Premiums less benefits	(17.8)	(14)
Change in fair value, net	67.9	64.9
Balance at end of the period	$ 1,426.8	$ 1,347.9

FAIR VALUE MEASUREMENTS - FAI_2

FAIR VALUE MEASUREMENTS - FAIR VALUE INPUTS (Details) $ in Millions	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities - corporate securities	$ 118.4	$ 96.9
Market risk benefit asset	84.1	75.4	$ 57.8
Market risk benefit liability	3.8	7.4	$ 17.6
Significant unobservable inputs  (Level 3)
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets carried at fair value by category	382	377.5
Significant unobservable inputs  (Level 3) | Discounted cash flow analysis
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market risk benefit asset	84.1	75.4
Market risk benefit liability	$ 3.8	$ 7.4
Significant unobservable inputs  (Level 3) | Discounted cash flow analysis | Surrender rates | Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, assets measurement input	0.0142	0.0142
Unobservable inputs, market risk benefit, liability measurement input	0.0142	0.0142
Significant unobservable inputs  (Level 3) | Discounted cash flow analysis | Surrender rates | Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, assets measurement input	0.1525	0.1525
Unobservable inputs, market risk benefit, liability measurement input	0.1525	0.1525
Significant unobservable inputs  (Level 3) | Discounted cash flow analysis | Surrender rates | Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, assets measurement input	0.0428	0.0428
Unobservable inputs, market risk benefit, liability measurement input	0.0428	0.0428
Significant unobservable inputs  (Level 3) | Discounted cash flow analysis | Utilization rates | Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, assets measurement input	0.0592	0.0592
Unobservable inputs, market risk benefit, liability measurement input	0.0592	0.0592
Significant unobservable inputs  (Level 3) | Discounted cash flow analysis | Utilization rates | Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, assets measurement input	0.4762	0.4762
Unobservable inputs, market risk benefit, liability measurement input	0.4762	0.4762
Significant unobservable inputs  (Level 3) | Discounted cash flow analysis | Utilization rates | Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, assets measurement input	0.2488	0.2488
Unobservable inputs, market risk benefit, liability measurement input	0.2488	0.2488
Significant unobservable inputs  (Level 3) | Recovery method | Percent of recovery expected | Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, equity securities	0	0
Significant unobservable inputs  (Level 3) | Recovery method | Percent of recovery expected | Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, equity securities	1	1
Significant unobservable inputs  (Level 3) | Recovery method | Percent of recovery expected | Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, fixed maturities	0.2500	0.2500
Unobservable inputs, equity securities	1	1
Significant unobservable inputs  (Level 3) | Market comparables | EBITDA multiples | Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, equity securities	11.5	11.3
Significant unobservable inputs  (Level 3) | Unadjusted third-party price source
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other assets	$ 213	$ 213.9
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Embedded derivatives related to fixed indexed annuity products	$ 1,426.8	$ 1,376.7
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives | Discount margins/rates | Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0407	0.0385
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives | Discount margins/rates | Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0574	0.0576
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives | Discount margins/rates | Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0472	0.0441
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives | Projected portfolio yields | Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0432	0.0432
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives | Projected portfolio yields | Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0492	0.0492
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives | Projected portfolio yields | Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0457	0.0457
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives | Surrender rates | Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0142	0.0142
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives | Surrender rates | Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.2370	0.2370
Significant unobservable inputs  (Level 3) | Discounted projected embedded derivatives | Surrender rates | Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0692	0.0692
Significant unobservable inputs  (Level 3) | Corporate securities | Discounted cash flow analysis
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale		$ 2.9
Significant unobservable inputs  (Level 3) | Corporate securities | Discounted cash flow analysis | Discount margins/rates | Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, fixed maturities		0.0222
Significant unobservable inputs  (Level 3) | Corporate securities | Recovery method
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale	$ 2.5	$ 2.5
Significant unobservable inputs  (Level 3) | Corporate securities | Unadjusted purchase price
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale	1.5	1.5
Significant unobservable inputs  (Level 3) | Asset-backed securities | Discounted cash flow analysis
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale	$ 8.3	$ 8.6
Significant unobservable inputs  (Level 3) | Asset-backed securities | Discounted cash flow analysis | Discount margins/rates | Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, fixed maturities	0.0228	0.0224
Significant unobservable inputs  (Level 3) | Equity Securities | Recovery method
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities - corporate securities	$ 0.1	$ 0.1
Significant unobservable inputs  (Level 3) | Equity Securities | Unadjusted purchase price
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities - corporate securities	9.2	9.2
Significant unobservable inputs  (Level 3) | Equity Securities | Market comparables
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities - corporate securities	$ 63.3	$ 63.4