0001224608-26-000074 | 10-Q | XBRL Viewer

LIABILITIES FOR INSURANCE PRODUCTS (Tables)

9 Months Ended

Sep. 30, 2026

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 nine months ended September 30, 2026 (dollars in millions):


	Supplemental health		Medicare supplement		Long-term care		Traditional life		Other annuities		Total
Present value of expected net premiums ("PVENP"), beginning of period	$	2,645.7	$	3,661.6	$	1,196.6	$	2,213.7	$	—	$	9,717.6
Effect of changes in discount rate assumptions, beginning of period	107.6		111.5		(4.8)		42.9		—		257.2
Beginning PVENP at original discount rate	2,753.3		3,773.1		1,191.8		2,256.6		—		9,974.8
Effect of changes in cash flow assumptions	(22.6)		581.9		(3.5)		(2.1)		—		553.7
Effect of actual variances from expected experience	7.3		(64.0)		(34.2)		(76.5)		—		(167.4)
Adjusted beginning of period PVENP	2,738.0		4,291.0		1,154.1		2,178.0		—		10,361.1
Issuances	199.5		596.0		141.4		267.9		3.6		1,208.4
Interest accrual	91.8		131.8		42.0		71.1		—		336.7
Net premiums collected	(264.9)		(391.7)		(129.4)		(292.1)		(3.6)		(1,081.7)
Ending PVENP at original discount rate	2,764.4		4,627.1		1,208.1		2,224.9		—		10,824.5
Effect of changes in discount rate assumptions, end of period	(286.1)		(405.4)		(70.4)		(160.7)		—		(922.6)
PVENP, end of period	$	2,478.3	$	4,221.7	$	1,137.7	$	2,064.2	$	—	$	9,901.9


Present value of expected future policy benefits ("PVEFPB"), beginning of period	$	5,984.2	$	3,864.0	$	4,409.2	$	4,677.8	$	260.0	$	19,195.2
Effect of changes in discount rate assumptions, beginning of period	359.2		120.6		10.5		199.5		11.1		700.9
Beginning PVEFPB at original discount rate	6,343.4		3,984.6		4,419.7		4,877.3		271.1		19,896.1
Effect of changes in cash flow assumptions	(38.8)		608.7		(22.9)		(29.9)		—		517.1
Effect of actual variances from expected experience	9.6		(65.7)		(60.9)		(89.8)		(3.7)		(210.5)
Adjusted beginning of period PVEFPB	6,314.2		4,527.6		4,335.9		4,757.6		267.4		20,202.7
Issuances	199.7		596.1		141.6		273.1		3.8		1,214.3
Interest accrual	220.7		139.3		172.9		159.9		9.3		702.1
Benefit payments	(322.0)		(408.5)		(217.9)		(345.8)		(22.2)		(1,316.4)
Ending PVEFPB at original discount rate	6,412.6		4,854.5		4,432.5		4,844.8		258.3		20,802.7
Effect of changes in discount rate assumptions, end of period	(852.8)		(435.8)		(393.2)		(526.5)		(31.0)		(2,239.3)
PVEFPB, end of period	$	5,559.8	$	4,418.7	$	4,039.3	$	4,318.3	$	227.3	$	18,563.4


Net liability for future policy benefits	$	3,081.5	$	197.0	$	2,901.6	$	2,254.1	$	227.3	$	8,661.5
Flooring impact	—		1.2		—		—		—		1.2
Adjusted net liability for future policy benefits	3,081.5		198.2		2,901.6		2,254.1		227.3		8,662.7
Related reinsurance recoverable	(1.2)		—		(351.8)		(138.2)		—		(491.2)
Net liability for future policy benefits, net of reinsurance recoverable	$	3,080.3	$	198.2	$	2,549.8	$	2,115.9	$	227.3	$	8,171.5


Adjusted net liability for future policy benefits	$	8,662.7
Reserves excluded from roll forward (a)	2,227.7
Deferred liability	74.6
Future loss reserves (b)	23.3
Future policy benefits	$	10,988.3

________________

(a) Primarily comprised of blocks of business that are 100% ceded.

(b) 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.


	Supplemental health		Medicare supplement		Long-term care		Traditional life		Other annuities		Total
PVENP, beginning of period	$	2,643.9	$	3,161.9	$	1,102.8	$	2,203.9	$	—	$	9,112.5
Effect of changes in discount rate assumptions, beginning of period	180.0		195.2		25.7		113.5		—		514.4
Beginning PVENP at original discount rate	2,823.9		3,357.1		1,128.5		2,317.4		—		9,626.9
Effect of changes in cash flow assumptions	(63.2)		182.7		31.0		2.3		—		152.8
Effect of actual variances from expected experience	(54.6)		44.2		(28.3)		(89.5)		—		(128.2)
Adjusted beginning of period PVENP	2,706.1		3,584.0		1,131.2		2,230.2		—		9,651.5
Issuances	230.3		354.3		135.4		297.2		5.1		1,022.3
Interest accrual	91.7		109.0		40.1		71.0		—		311.8
Net premiums collected	(264.7)		(345.7)		(124.7)		(298.2)		(5.1)		(1,038.4)
Ending PVENP at original discount rate	2,763.4		3,701.6		1,182.0		2,300.2		—		9,947.2
Effect of changes in discount rate assumptions, end of period	(96.8)		(104.8)		7.1		(40.9)		—		(235.4)
PVENP, end of period	$	2,666.6	$	3,596.8	$	1,189.1	$	2,259.3	$	—	$	9,711.8


PVEFPB, beginning of period	$	5,828.2	$	3,375.6	$	4,240.1	$	4,570.6	$	264.5	$	18,279.0
Effect of changes in discount rate assumptions, beginning of period	516.6		211.5		94.1		333.3		16.2		1,171.7
Beginning PVEFPB at original discount rate	6,344.8		3,587.1		4,334.2		4,903.9		280.7		19,450.7
Effect of changes in cash flow assumptions	(87.2)		192.0		25.8		1.8		(2.8)		129.6
Effect of actual variances from expected experience	(61.8)		51.0		(42.6)		(111.7)		2.4		(162.7)
Adjusted beginning of period PVEFPB	6,195.8		3,830.1		4,317.4		4,794.0		280.3		19,417.6
Issuances	233.6		354.5		135.5		302.2		5.1		1,030.9
Interest accrual	218.6		116.6		171.4		158.0		9.6		674.2
Benefit payments	(319.0)		(379.6)		(219.3)		(348.6)		(22.1)		(1,288.6)
Ending PVEFPB at original discount rate	6,329.0		3,921.6		4,405.0		4,905.6		272.9		19,834.1
Effect of changes in discount rate assumptions, end of period	(317.0)		(113.6)		26.5		(180.0)		(9.0)		(593.1)
PVEFPB, end of period	$	6,012.0	$	3,808.0	$	4,431.5	$	4,725.6	$	263.9	$	19,241.0


Net liability for future policy benefits	$	3,345.4	$	211.2	$	3,242.4	$	2,466.3	$	263.9	$	9,529.2
Flooring impact	—		0.9		—		—		—		0.9
Adjusted net liability for future policy benefits	3,345.4		212.1		3,242.4		2,466.3		263.9		9,530.1
Related reinsurance recoverable	(1.7)		—		(386.5)		(162.3)		—		(550.5)
Net liability for future policy benefits, net of reinsurance recoverable	$	3,343.7	$	212.1	$	2,855.9	$	2,304.0	$	263.9	$	8,979.6


Adjusted net liability for future policy benefits	$	9,530.1
Reserves excluded from roll forward (a)	2,351.3
Deferred liability	69.2
Future loss reserves (b)	24.9
Future policy benefits	$	11,975.5

________________

(a) Primarily comprised of blocks of business that are 100% ceded.

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)
	Nine months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Other annuities	$	4.5	$	6.0	$	9.3	$	9.6
Supplemental health	573.2		554.0		128.9		126.9
Medicare supplement	516.3		465.4		7.5		7.6
Long-term care	277.9		264.8		130.9		131.3
Traditional life	555.4		551.6		88.8		87.0
Total	$	1,927.3	$	1,841.8	$	365.4	$	362.4

________________

(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 future gross premiums and expected future benefits and expenses for traditional and limited-payment contracts (dollars in millions):


	September 30, 2026				September 30, 2025
	Undiscounted		Discounted (a)		Undiscounted		Discounted (a)
Other annuities
Expected future gross premiums	$	—	$	—	$	—	$	—
Expected future benefits and expenses	286.2		227.3		312.8		263.9
Supplemental health
Expected future gross premiums	9,263.0		5,347.5		9,098.7		5,687.4
Expected future benefits and expenses	10,994.2		5,559.8		10,781.4		6,012.0
Medicare supplement
Expected future gross premiums	8,725.8		5,412.7		6,930.0		4,753.6
Expected future benefits and expenses	7,217.8		4,418.7		5,565.5		3,808.0
Long-term care
Expected future gross premiums	3,842.8		2,496.1		3,648.8		2,564.4
Expected future benefits and expenses	8,276.5		4,039.3		8,100.0		4,431.5
Traditional life
Expected future gross premiums	5,822.1		3,987.1		5,804.4		4,231.0
Expected future benefits and expenses	7,622.1		4,318.3		7,680.7		4,725.6

________________

(a) Calculated at the discount rates at period end.

The following table provides the weighted average durations (under locked-in discount rates) of the liability for future policy benefits in years:


	September 30, 2026	September 30, 2025
Other annuities	9.5	9.5
Supplemental health	10.5	10.7
Medicare supplement	7.8	5.5
Long-term care	10.8	10.7
Traditional life	10.0	10.1

The following table provides the weighted average interest rates for the liability for future policy benefits:


	September 30, 2026		September 30, 2025
Other annuities
Interest accretion rate	4.88	%	4.87	%
Current discount rate	6.49		5.32
Supplemental health
Interest accretion rate	4.94		4.96
Current discount rate	6.45		5.26
Medicare supplement
Interest accretion rate	4.27		4.33
Current discount rate	6.21		4.93
Long-term care
Interest accretion rate	5.61		5.64
Current discount rate	6.52		5.35
Traditional life
Interest accretion rate	4.84		4.80
Current discount rate	6.49		5.30

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):


	Nine months ended
	September 30,
	2026		2025
Net liability, beginning of period	$	48.1	$	60.0
Effect of changes in the instrument-specific credit risk, beginning of period	0.9		1.4
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	49.0		61.4
Issuances	2.6		3.4
Interest accrual	1.2		2.0


Effect of changes in interest rates	(7.6)		0.9
Effect of changes in equity markets	(2.8)		(0.3)
Effect of changes in equity index volatility	1.1		2.2
Actual policyholder behavior different from expected behavior	(1.0)		(0.6)
Effect of changes in future expected policyholder behavior - other	(20.3)		(13.3)
Effect of changes in future expected policyholder behavior - risk margin	(0.1)		0.1
Effect of changes in assumptions	0.5		(2.4)
Net liability, end of period, before effect of changes in the instrument-specific credit risk	22.6		53.4
Effect of changes in the instrument-specific credit risk, end of period	(0.7)		(0.8)


Net liability, end of period, net of reinsurance	$	21.9	$	52.6

Balance reported as an asset	$	—	$	—
Balance reported as a liability	21.9		52.6
Net liability	$	21.9	$	52.6

Net amount at risk	$	13.0	$	22.1
Weighted average attained age of contract holders	70		70

Schedule of Policyholder Account Balance

The following tables present the balances of and changes in the liability for policyholder account balances (dollars in millions):


	Nine months ended
	September 30, 2026
	Fixed indexed annuities		Fixed interest annuities		Other annuities		Interest-sensitive life (a)		Funding agreements		Other (b)		Total
Policyholder account values, beginning of period excluding contracts 100% ceded	$	11,633.0	$	1,637.5	$	104.5	$	1,383.2	$	3,373.6	$	348.7	$	18,480.5
Issuances (funds collected from new business)	1,321.0		124.8		—		36.5		299.7		—		1,782.0
Premiums received (premiums collected from inforce business)	29.6		1.3		19.8		168.8		—		194.0		413.5
Policy charges	(22.5)		(1.5)		—		(156.4)		—		—		(180.4)
Surrenders and withdrawals	(762.5)		(117.4)		(23.8)		(29.1)		(95.1)		(199.2)		(1,227.1)
Benefit payments	(208.8)		(70.9)		(3.7)		(17.4)		—		(0.1)		(300.9)
Interest credited	312.5		36.6		1.6		54.4		111.5		1.8		518.4
Other	43.0		0.1		—		(1.7)		—		—		41.4
Policyholder account values, end of period excluding contracts 100% ceded	12,345.3		1,610.5		98.4		1,438.3		3,689.7		345.2		19,527.4
Policyholder account values, end of period for contracts 100% ceded	104.4		461.0		31.2		88.8		—		9.5		694.9
Amount of reserves above (below) policyholder account values (c)	(419.2)		—		—		16.2		—		—		(403.0)
Policyholder account balance, end of period	$	12,030.5	$	2,071.5	$	129.6	$	1,543.3	$	3,689.7	$	354.7	$	19,819.3

Balance, end of period, reinsurance ceded	(98.2)		(461.0)		(31.2)		(106.3)		—		(21.8)		(718.5)
Balance, end of period, net of reinsurance	$	11,932.3	$	1,610.5	$	98.4	$	1,437.0	$	3,689.7	$	332.9	$	19,100.8



Weighted average crediting rate (d)	2.2	%	2.9	%	2.8	%	4.8	%	4.3	%	0.8	%



Cash surrender value, net of reinsurance	$	11,552.8	$	1,559.1	$	98.4	$	1,189.8	$	—	$	332.9

________________

(a) 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 $32,593.2 million at the balance sheet date.

(b) Predominantly consists of retained asset accounts associated with our traditional life and supplemental health blocks.

(c) Such amount represents the difference between: (i) the total insurance liabilities for our fixed indexed products (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.

(d) Excludes any impact from the amount of reserves above (below) policyholder account balances.


	Nine months ended
	September 30, 2025
	Fixed indexed annuities		Fixed interest annuities		Other annuities		Interest-sensitive life (a)		Funding agreements		Other (b)		Total
Policyholder account values, beginning of period excluding contracts 100% ceded	$	10,766.3	$	1,646.6	$	107.4	$	1,321.8	$	3,021.2	$	359.1	$	17,222.4
Issuances (funds collected from new business)	1,265.4		142.2		—		32.8		350.0		—		1,790.4
Premiums received (premiums collected from inforce business)	17.9		1.9		22.8		164.0		—		198.9		405.5
Policy charges	(20.6)		(1.4)		—		(150.4)		—		—		(172.4)
Surrenders and withdrawals	(670.5)		(117.6)		(22.7)		(27.7)		(473.8)		(210.0)		(1,522.3)
Benefit payments	(219.8)		(74.9)		(4.3)		(18.8)		—		—		(317.8)
Interest credited	248.3		38.2		2.0		48.3		82.2		1.8		420.8
Other	46.1		0.1		(0.3)		(0.2)		—		—		45.7
Policyholder account values, end of period excluding contracts 100% ceded	11,433.1		1,635.1		104.9		1,369.8		2,979.6		349.8		17,872.3
Policyholder account values, end of period for contracts 100% ceded	115.1		503.8		30.3		93.3		—		9.9		752.4
Amount of reserves above (below) policyholder account values (c)	(352.9)		—		—		18.5		—		—		(334.4)
Policyholder account balance, end of period	$	11,195.3	$	2,138.9	$	135.2	$	1,481.6	$	2,979.6	$	359.7	$	18,290.3

Balance, end of period, reinsurance ceded	(109.9)		(503.8)		(30.3)		(111.0)		—		(22.8)		(777.8)
Balance, end of period, net of reinsurance	$	11,085.4	$	1,635.1	$	104.9	$	1,370.6	$	2,979.6	$	336.9	$	17,512.5



Weighted average crediting rate (d)	2.2	%	3.1	%	2.7	%	5.2	%	4.2	%	0.8	%



Cash surrender value, net of reinsurance	$	10,688.5	$	1,586.6	$	104.9	$	1,122.7	$	—	$	336.9

________________

(b) Predominantly consists of retained asset accounts associated with our traditional life and supplemental health blocks.

(d) Excludes any impact from the amount of reserves above (below) policyholder account balances.

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):


	September 30, 2026
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%	$	173.8	$	212.4	$	280.3	$	90.7	$	757.2
3.00%-4.99%	1,187.0		53.8		—		—		1,240.8
5.00% and greater	73.5		—		—		—		73.5
Subtotal	1,434.3		266.2		280.3		90.7		2,071.5
Other annuities
0.00%-2.99%	19.4		18.9		—		—		38.3
3.00%-4.99%	55.9		—		—		—		55.9
5.00% and greater	35.4		—		—		—		35.4
Subtotal	110.7		18.9		—		—		129.6
Interest-sensitive life
0.00%-2.99%	21.5		—		—		808.3		829.8
3.00%-4.99%	365.7		91.4		217.1		3.8		678.0
5.00% and greater	19.1		0.2		—		—		19.3
Subtotal	406.3		91.6		217.1		812.1		1,527.1
Other
0.00%-2.99%	15.4		319.5		—		—		334.9
3.00%-4.99%	19.5		—		—		—		19.5
5.00% and greater	0.3		—		—		—		0.3
Subtotal	35.2		319.5		—		—		354.7
Total
0.00%-2.99%	230.1		550.8		280.3		899.0		1,960.2
3.00%-4.99%	1,628.1		145.2		217.1		3.8		1,994.2
5.00% and greater	128.3		0.2		—		—		128.5
Total policyholder account balances, excluding fixed indexed annuities	$	1,986.5	$	696.2	$	497.4	$	902.8	$	4,082.9
Fixed indexed annuity account balances									12,449.7
Funding agreements									3,689.7
Total policyholder account values									20,222.3
Amount of reserves above (below) policyholder account values									(403.0)
Total policyholder account balances									$	19,819.3

________________

(a) Excludes the account balances related to: (i) fixed indexed annuity contracts that include an index fund component, with index credits tied to the performance of the index. The minimum guarantee is determined by a participation or cap rate

linked to an index, such as the Standard & Poor’s 500 index, rather than a predetermined rate of return; and (ii) funding agreements which have a fixed crediting rate.


	September 30, 2025
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%	$	85.7	$	182.7	$	331.0	$	74.0	$	673.4
3.00%-4.99%	1,187.9		96.7		91.3		11.5		1,387.4
5.00% and greater	78.1		—		—		—		78.1
Subtotal	1,351.7		279.4		422.3		85.5		2,138.9
Other annuities
0.00%-2.99%	23.7		21.1		—		—		44.8
3.00%-4.99%	57.0		—		—		—		57.0
5.00% and greater	33.4		—		—		—		33.4
Subtotal	114.1		21.1		—		—		135.2
Interest-sensitive life
0.00%-2.99%	17.6		—		0.5		756.0		774.1
3.00%-4.99%	361.1		111.0		194.4		2.1		668.6
5.00% and greater	20.2		0.2		—		—		20.4
Subtotal	398.9		111.2		194.9		758.1		1,463.1
Other
0.00%-2.99%	16.0		322.7		—		—		338.7
3.00%-4.99%	20.7		—		—		—		20.7
5.00% and greater	0.3		—		—		—		0.3
Subtotal	37.0		322.7		—		—		359.7
Total
0.00%-2.99%	143.0		526.5		331.5		830.0		1,831.0
3.00%-4.99%	1,626.7		207.7		285.7		13.6		2,133.7
5.00% and greater	132.0		0.2		—		—		132.2
Total policyholder account balances, excluding fixed indexed annuities	$	1,901.7	$	734.4	$	617.2	$	843.6	$	4,096.9
Fixed indexed annuity account balances									11,548.2
Funding agreements									2,979.6
Total policyholder account values									18,624.7
Amount of reserves above (below) policyholder account values									(334.4)
Total policyholder account balances									$	18,290.3

________________

linked to an index, such as the Standard & Poor’s 500 index, rather than a predetermined rate of return; and (ii) funding agreements which have a fixed crediting rate.

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, 2024		101,619,000
Balance, beginning of period at Dec. 31, 2024	$ 2,515.2	$ 1.0	$ 1,632.5	$ (1,371.4)	$ 2,253.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	136.4				136.4
Other comprehensive income (loss), net of tax	252.5			252.5
Common stock repurchased (in shares)		(6,675,000)
Common stock repurchased	(259.9)		(259.9)
Dividends on common stock	(50.0)				(50.0)
Employee benefit plans, net of shares used to pay tax withholdings (in shares)		897,000
Employee benefit plans, net of shares used to pay tax withholdings	16.8		16.8
Balance, end of period (in shares) at Sep. 30, 2025		95,841,000
Balance, end of period at Sep. 30, 2025	2,611.0	$ 1.0	1,389.4	(1,118.9)	2,339.5
Balance, beginning of period (in shares) at Jun. 30, 2025		97,319,000
Balance, beginning of period at Jun. 30, 2025	2,522.7	$ 1.0	1,441.4	(1,252.7)	2,333.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23.1				23.1
Other comprehensive income (loss), net of tax	133.8			133.8
Common stock repurchased (in shares)		(1,570,000)
Common stock repurchased	(60.0)		(60.0)
Dividends on common stock	(16.6)				(16.6)
Employee benefit plans, net of shares used to pay tax withholdings (in shares)		92,000
Employee benefit plans, net of shares used to pay tax withholdings	8.0		8.0
Balance, end of period (in shares) at Sep. 30, 2025		95,841,000
Balance, end of period at Sep. 30, 2025	$ 2,611.0	$ 1.0	1,389.4	(1,118.9)	2,339.5
Balance, beginning of period (in shares) at Dec. 31, 2025	94,484,339	94,484,000
Balance, beginning of period at Dec. 31, 2025	$ 2,638.2	$ 0.9	1,336.3	(1,115.0)	2,416.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	324.7				324.7
Other comprehensive income (loss), net of tax	(430.8)			(430.8)
Common stock repurchased (in shares)		(3,823,000)
Common stock repurchased	(180.0)		(180.0)
Dividends on common stock	(50.4)				(50.4)
Employee benefit plans, net of shares used to pay tax withholdings (in shares)		1,045,000
Employee benefit plans, net of shares used to pay tax withholdings	$ 22.0		22.0
Balance, end of period (in shares) at Sep. 30, 2026	91,705,509	91,706,000
Balance, end of period at Sep. 30, 2026	$ 2,323.7	$ 0.9	1,178.3	(1,545.8)	2,690.3
Balance, beginning of period (in shares) at Jun. 30, 2026		92,697,000
Balance, beginning of period at Jun. 30, 2026	2,591.6	$ 0.9	1,227.4	(1,182.8)	2,546.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	161.1				161.1
Other comprehensive income (loss), net of tax	(363.0)			(363.0)
Common stock repurchased (in shares)		(1,100,000)
Common stock repurchased	(60.0)		(60.0)
Dividends on common stock	(16.9)				(16.9)
Employee benefit plans, net of shares used to pay tax withholdings (in shares)		109,000
Employee benefit plans, net of shares used to pay tax withholdings	$ 10.9		10.9
Balance, end of period (in shares) at Sep. 30, 2026	91,705,509	91,706,000
Balance, end of period at Sep. 30, 2026	$ 2,323.7	$ 0.9	$ 1,178.3	$ (1,545.8)	$ 2,690.3

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Investments:
Fixed maturities, available for sale, allowance for credit losses	$ 56.9	$ 36.0
Fixed maturities, available for sale, amortized cost	26,961.7	25,776.4
Mortgage loans, allowance for credit losses	17.3	20.9
Investments held by variable interest entities, allowance for credit losses	1.5	0.6
Investments held by variable interest entities, amortized cost	311.4	294.1
Reinsurance receivables, allowance for current expected credit losses	$ 0.5	$ 1.0
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)	91,705,509	94,484,339
Common stock, shares outstanding (in shares)	91,705,509	94,484,339

NOTES PAYABLE – DIRECT CORPORATE OBLIGATIONS - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Outstanding principal	$ 1,336.7	$ 1,335.6
Unamortized debt issue costs	$ (11.4)	(12.4)
6.450% Senior Notes due June 2034 \| Senior Notes
Debt Instrument [Line Items]
Interest rate	6.45%
Outstanding principal	$ 700.0	700.0
Unamortized discount on 6.450% Senior Notes due June 2034	$ (1.9)	(2.0)
5.125% Subordinated Debentures due 2060 \| Subordinated Debt
Debt Instrument [Line Items]
Interest rate	5.125%
Outstanding principal	$ 150.0	150.0
5.250% Senior Notes due May 2029 \| Senior Notes
Debt Instrument [Line Items]
Interest rate	5.25%
Outstanding principal	$ 500.0	$ 500.0

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Cash flows from operating activities:
Insurance policy income	$ 1,867.8	$ 1,781.0
Net investment income	1,191.1	1,120.4
Fee revenue and other income	130.6	134.6
Insurance policy benefits	(1,253.3)	(1,228.8)
Interest expense	(143.3)	(159.3)
Deferrable policy acquisition costs and sales inducements	(387.0)	(377.8)
Other operating costs	(822.3)	(780.6)
Income taxes	(36.2)	(9.5)
Net cash provided by operating activities	547.4	480.0
Cash flows from investing activities:
Sales of investments	8,369.0	2,315.4
Maturities and redemptions of investments	2,617.3	2,209.5
Purchases of investments	(12,229.8)	(5,292.3)
Other, net	(12.6)	0.9
Net cash used by investing activities	(1,256.1)	(766.5)
Cash flows from financing activities:
Payments on notes payable	0.0	(500.0)
Issuance of common stock	10.6	9.6
Payments to repurchase common stock	(193.7)	(271.2)
Common stock dividends paid	(50.4)	(50.0)
Payments on financing arrangements	(12.3)	(11.4)
Amounts received for deposit products	2,188.7	2,189.5
Withdrawals from deposit products	(1,557.0)	(1,866.6)
Issuance of investment borrowings:
Federal Home Loan Bank	1,825.1	776.8
Related to variable interest entities	10.5	0.0
Payments on investment borrowings:
Federal Home Loan Bank	(1,074.9)	(523.7)
Related to variable interest entities	0.0	(222.6)
Net cash provided (used) by financing activities	1,146.6	(469.6)
Net increase (decrease) in cash and cash equivalents	437.9	(756.1)
Cash and cash equivalents - unrestricted and including held by variable interest entities, beginning of period	983.5	1,997.7
Cash and cash equivalents - unrestricted and including held by variable interest entities, end of period	$ 1,421.4	$ 1,241.6

INVESTMENTS IN VARIABLE INTEREST ENTITIES - NARRATIVE (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026 USD ($) investment	Sep. 30, 2025 USD ($)	Sep. 30, 2026 USD ($) investment	Sep. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Variable Interest Entity [Line Items]
Investment in each VIE	$ 112.5		$ 112.5
Interest expense	$ 58.1	$ 56.6	164.3	$ 177.7
Variable interest entities net realized gain (losses) on investments			(2.0)	(6.9)
Net losses from the sales of fixed maturities			(1.1)	(6.1)
Variable interest entities, change in allowance for credit losses			0.9	(0.8)
Variable interest entity, gross investment losses from sale			1.1	7.3
Variable interest entities, investments sold			$ 15.3	88.2
Number of investments held by VIE, in default \| investment	0		0
Less than 12 months	$ 7,390.4		$ 7,390.4		$ 1,864.0
Gross unrealized losses of investments in unrealized loss position for less than 12 months	258.7		258.7		58.5
12 months or greater	4,353.0		4,353.0		5,964.9
Gross unrealized losses of investments in unrealized loss position for more than 12 months	1,142.7		1,142.7		836.7
Investments held in limited partnerships	848.0		848.0
Unfunded commitments to limited partnerships	760.2		760.2
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Interest expense			11.7	$ 19.4
Less than 12 months	83.3		83.3		86.7
Gross unrealized losses of investments in unrealized loss position for less than 12 months	0.6		0.6		0.9
12 months or greater	77.4		77.4		34.2
Gross unrealized losses of investments in unrealized loss position for more than 12 months	0.8		0.8		$ 0.3
Variable Interest Entity, Primary Beneficiary \| Non Investment Grade
Variable Interest Entity [Line Items]
Total amortized cost	311.4		311.4
Variable interest entity, gross unrealized gains fixed maturity securities	0.4		0.4
Variable interest entity gross unrealized losses fixed maturity securities	2.5		2.5
Variable interest entity, allowance for credit losses fixed maturity securities	1.5		1.5
Variable Interest Entity, Not Primary Beneficiary \| Non Investment Grade
Variable Interest Entity [Line Items]
Estimated fair value of fixed maturity securities	$ 307.8		$ 307.8

DERIVATIVES

9 Months Ended

Sep. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES

We use freestanding derivatives to hedge policyholder features that themselves are derivatives embedded within certain of our annuity and life insurance products. The Company also has embedded derivatives as a result of a modified coinsurance agreement. These derivatives are summarized as follows (dollars in millions):


	September 30, 2026		December 31, 2025
Assets:
Other invested assets:
Fixed indexed call options	$	270.2	$	323.5
Reinsurance receivables	(18.1)		(15.3)
Total assets	$	252.1	$	308.2
Liabilities:
Embedded derivatives related to fixed indexed annuities at fair value:
Policyholder account balances	$	1,578.7	$	1,600.6

Our fixed indexed annuity products provide a guaranteed minimum rate of return on the fixed fund portion of the contracts and a higher potential return on the index portion of the contract that is based on a percentage (the "participation rate") of the amount of increase in the value of a particular index, such as the Standard & Poor's 500 Index, over a specified period. We are generally able to change the participation rate at the beginning of each index period (typically on each policy anniversary date), subject to contractual minimums. The Company accounts for the options attributed to the policyholder for the estimated life of the contract as embedded derivatives. We are required to record the embedded derivatives related to our fixed indexed annuity products at estimated fair value. 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 $4.8 billion and $4.5 billion at September 30, 2026 and December 31, 2025, respectively. These freestanding derivatives are not designated as hedging instruments. We carry them at estimated fair value on our consolidated balance sheet, with changes in fair value recorded within policyholder and other special-purpose portfolios on our consolidated statement of operations.

Purchases of fixed indexed call options that are used to hedge the effects of certain policyholder benefits were $159.3 million and $147.6 million during the nine months ended September 30, 2026 and 2025, respectively. Sales, which generally represent option exercises, were $309.6 million and $238.0 million, respectively, during the nine months ended September 30, 2026 and 2025.

In addition, 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 $69.0 million in underlying investments held by the ceding reinsurer at September 30, 2026.

We purchase certain fixed maturity securities that contain embedded derivatives that are required to be held at fair value on the consolidated balance sheet. We have elected the fair value option to carry the entire security at fair value with changes in fair value reported in other investment gains (losses) on the consolidated statement of operations.

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				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Net investment income (loss) from policyholder and other special-purpose portfolios:
Fixed indexed call options	$	0.4	$	98.3	$	96.9	$	108.7
Total investment gains (losses):
Embedded derivative related to modified coinsurance agreement	(2.2)		0.5		(2.8)		1.8
Total revenues from derivative instruments, not designated as hedges	(1.8)		98.8		94.1		110.5
Insurance policy benefits:
Embedded derivatives related to fixed indexed annuities	(102.5)		103.4		(13.4)		150.2
Net pre-tax impact	$	100.7	$	(4.6)	$	107.5	$	(39.7)

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 September 30, 2026, 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 September 30, 2026 and December 31, 2025 (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
September 30, 2026:
	Fixed indexed call options	$	270.2	$	—	$	270.2	$	30.5	$	—	$	239.7
December 31, 2025:
	Fixed indexed call options	323.5		—		323.5		43.5		—		280.0

FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2026

Fair Value Disclosures [Abstract]

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 variable interest entities ("VIEs"), derivatives, separate account assets and embedded derivatives. We carry our company-owned life insurance ("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, policy loans and other less liquid securities. Financial liabilities in this category include our insurance liabilities for interest-sensitive products, which includes embedded derivatives and market risk benefit ("MRB") related to our fixed indexed annuity products, 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 independent pricing services. Inputs generally consist of trades of identical or similar securities, quoted prices in active markets, 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 observable market 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 controls 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. 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 98 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 September 30, 2026 is as follows (dollars in millions):


	Quoted prices in active markets for identical assets or liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Assets:
Fixed maturities, available for sale:
Corporate securities	$	—	$	12,892.7	$	349.7	$	13,242.4

United States Treasury securities and obligations of United States government corporations and agencies	—		164.3		—		164.3
States and political subdivisions	—		2,628.6		—		2,628.6
Foreign governments	—		123.3		—		123.3
Asset-backed securities	—		1,945.2		67.4		2,012.6
Agency residential mortgage-backed securities	—		625.5		—		625.5
Non-agency residential mortgage-backed securities	—		1,212.6		27.0		1,239.6
Collateralized loan obligations	—		1,609.3		—		1,609.3
Commercial mortgage-backed securities	—		2,028.8		3.2		2,032.0
Total fixed maturities, available for sale	—		23,230.3		447.3		23,677.6
Equity securities - corporate securities	170.1		67.1		73.0		310.2
Trading securities:




Asset-backed securities	—		31.2		—		31.2
Agency residential mortgage-backed securities	—		65.7		—		65.7
Non-agency residential mortgage-backed securities	—		31.2		—		31.2
Collateralized loan obligations	—		8.6		—		8.6
Commercial mortgage-backed securities	—		97.3		—		97.3

Total trading securities	—		234.0		—		234.0
Investments held by variable interest entities - corporate securities	—		307.8		—		307.8
Other invested assets:
Derivatives	—		270.2		—		270.2
Residual tranches	—		—		4.6		4.6
Total other invested assets	—		270.2		4.6		274.8

Assets held in separate accounts	—		2.9		—		2.9
Total assets carried at fair value by category	$	170.1	$	24,112.3	$	524.9	$	24,807.3
Equity securities measured at net asset value							17.8
Total assets carried at fair value							$	24,825.1

Liabilities:
Market risk benefit liability	$	—	$	—	$	21.9	$	21.9
Embedded derivatives associated with fixed indexed annuity products	—		—		1,578.7		1,578.7
Total liabilities carried at fair value	$	—	$	—	$	1,600.6	$	1,600.6

The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2025 is as follows (dollars in millions):


	Quoted prices in active markets for identical assets or liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Assets:
Fixed maturities, available for sale:
Corporate securities	$	—	$	13,130.7	$	131.8	$	13,262.5

United States Treasury securities and obligations of United States government corporations and agencies	—		177.1		—		177.1
States and political subdivisions	—		2,954.7		—		2,954.7
Foreign governments	—		120.5		—		120.5
Asset-backed securities	—		1,710.8		36.5		1,747.3
Agency residential mortgage-backed securities	—		849.5		—		849.5
Non-agency residential mortgage-backed securities	—		1,585.7		—		1,585.7
Collateralized loan obligations	—		1,142.5		—		1,142.5
Commercial mortgage-backed securities	—		2,043.5		3.5		2,047.0
Total fixed maturities, available for sale	—		23,715.0		171.8		23,886.8
Equity securities - corporate securities	176.5		117.0		73.7		367.2
Trading securities:



Asset-backed securities	—		38.7		—		38.7
Agency residential mortgage-backed securities	—		97.5		—		97.5
Non-agency residential mortgage-backed securities	—		44.2		—		44.2
Collateralized loan obligations	—		9.7		—		9.7
Commercial mortgage-backed securities	—		104.7		—		104.7

Total trading securities	—		294.8		—		294.8
Investments held by variable interest entities - corporate securities	—		293.0		—		293.0
Other invested assets:
Derivatives	—		323.5		—		323.5
Residual tranches	—		—		4.2		4.2
Total other invested assets	—		323.5		4.2		327.7

Assets held in separate accounts	—		2.8		—		2.8
Total assets carried at fair value by category	$	176.5	$	24,746.1	$	249.7	$	25,172.3
Equity securities measured at net asset value							22.0
Total assets carried at fair value							$	25,194.3

Liabilities:
Market risk benefit liability	$	—	$	—	$	48.1	$	48.1
Embedded derivatives associated with fixed indexed annuity products	—		—		1,600.6		1,600.6
Total liabilities carried at fair value	$	—	$	—	$	1,648.7	$	1,648.7

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 September 30, 2026 (dollars in millions):


	Fixed Maturities, Available for Sale		Equity Securities		Other Invested Assets		Total
Beginning of period	$	248.4	$	73.5	$	4.5	$	326.4
Gains (losses) included in net income	(0.2)		(0.5)		0.1		(0.6)
Gains (losses) included in accumulated other comprehensive loss	(7.0)		—		—		(7.0)
Purchases, sales, issuances and settlements (a)
Purchases	68.2		—		—		68.2
Sales	(10.0)		—		—		(10.0)
Transfers into Level 3 (b)	184.0		—		—		184.0
Transfers out of Level 3 (b)	(36.1)		—		—		(36.1)
End of period	$	447.3	$	73.0	$	4.6	$	524.9

Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	$	(0.2)	$	(0.5)	$	0.1	$	(0.6)
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$	(8.7)	$	—	$	—	$	(8.7)

________________

(a)Purchases, sales, issuances and settlements 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. There were no issuances or settlements during the three months ended September 30, 2026.

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 nine months ended September 30, 2026 (dollars in millions):


	Fixed Maturities, Available for Sale		Equity Securities		Other Invested Assets		Total
Beginning of period	$	171.8	$	73.7	$	4.2	$	249.7
Gains (losses) included in net income	(0.5)		(0.7)		0.3		(0.9)
Gains (losses) included in accumulated other comprehensive loss	(9.7)		—		—		(9.7)
Purchases, sales, issuances and settlements (a)
Purchases	155.9		—		0.4		156.3
Sales	(21.7)		—		(0.3)		(22.0)
Transfers into Level 3 (b)	195.9		—		—		195.9
Transfers out of Level 3 (b)	(44.4)		—		—		(44.4)
End of period	$	447.3	$	73.0	$	4.6	$	524.9

Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	$	(0.2)	$	(0.7)	$	0.2	$	(0.7)
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$	(12.6)	$	—	$	—	$	(12.6)

________________


	Fixed Maturities, Available for Sale		Equity Securities		Other Invested Assets		Total
Beginning of period	$	454.6	$	94.4	$	2.6	$	551.6
Gains (losses) included in net income	(2.0)		0.3		—		(1.7)
Gains (losses) included in accumulated other comprehensive loss	4.2		—		—		4.2
Purchases, sales, issuances and settlements (a)
Purchases	177.5		—		—		177.5
Sales	(9.7)		—		—		(9.7)
Transfers into Level 3 (b)	10.5		—		—		10.5
Transfers out of Level 3 (b)	(49.6)		(20.5)		—		(70.1)
End of period	$	585.5	$	74.2	$	2.6	$	662.3

Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	$	(2.0)	$	0.3	$	—	$	(1.7)
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$	3.9	$	—	$	—	$	3.9

________________

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 nine months ended September 30, 2025 (dollars in millions):


	Fixed Maturities, Available for Sale		Equity Securities		Other Invested Assets		Total
Beginning of period	$	155.9	$	73.4	$	95.4	$	324.7
Gains (losses) included in net income	(0.3)		0.8		—		0.5
Gains (losses) included in accumulated other comprehensive loss	1.2		—		—		1.2
Purchases, sales, issuances and settlements (a)
Purchases	420.0		—		—		420.0
Sales	(24.0)		—		—		(24.0)
Transfers into Level 3 (b)	89.8		—		—		89.8
Transfers out of Level 3 (b)	(57.1)		—		(92.8)		(149.9)
End of period	$	585.5	$	74.2	$	2.6	$	662.3

Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	$	(0.3)	$	0.9	$	—	$	0.6
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$	—	$	—	$	—	$	—

________________

(b)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 independent pricing service information for certain assets that the Company is able to validate. Transfers out of Level 3 other invested assets include $92.8 million of residual tranches that are valued based on our ownership share of the equity of the investee, as reported to us by the General Partner. These are not held at fair value and have been transferred out of Level 3.

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 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 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 other comprehensive loss for assets 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 September 30, 2026, 86 percent of our Level 3 fixed maturities, available for sale, were investment grade and 78 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 as presented in the note to the consolidated financial statements entitled "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				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Balance at beginning of the period	$	1,676.7	$	1,502.4	$	1,600.6	$	1,471.6
Premiums less benefits	4.5		(7.4)		(8.5)		(23.4)
Change in fair value, net	(102.5)		103.4		(13.4)		150.2
Balance at end of the period	$	1,578.7	$	1,598.4	$	1,578.7	$	1,598.4

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 September 30, 2026 (dollars in millions):

Fair value at September 30, 2026

Valuation techniques

Unobservable inputs

Range (weighted average) (a)

Assets:

Corporate securities

—

Recovery method

% Recovery expected

—%

Asset-backed securities (b)

6.8

Discounted cash flow analysis

Discount margins

1.47%

Asset-backed securities (c)

3.2

Recovery method

% Recovery expected

56.77%

Equity securities (d)

63.8

Market comparables

EBITDA multiples

12.3X

Total assets

73.8

Liabilities:

Market risk benefit liability (e)

21.9

Discounted cash flow analysis

Surrender rates

0.49% - 18.90% (4.86%)

Partial withdrawal rates

0.00% - 3.11% (1.87%)

Mortality

0.20% - 47.81% (3.61%)

GLWB utilization

5.92% - 47.62% (25.03%)

Non-performance risk spread

0.08% - 0.36% (N/A)

Embedded derivatives related to fixed indexed annuity products (f)

1,578.7

Discounted projected embedded derivatives

Surrender rates

0.49% - 23.68% (6.65%)

Partial withdrawal rates

0.00% - 4.41% (3.31%)

Mortality

0.02% - 47.81% (4.05%)

GLWB utilization

5.92% - 47.62% (25.03%)

Option budget

0.91% - 3.45% (2.56%)

Non-performance risk spread

0.08% - 0.36% (N/A)

Total liabilities

1,600.6

________________

(a) The weighted average is based on the relative fair value of the related assets or liabilities.

(b) Asset-backed securities - The significant unobservable input used in the fair value measurement of these asset-backed securities is discount margin added to the applicable risk-free rate. Significant increases (decreases) in discount margin in isolation would have resulted in a significantly lower (higher) fair value measurement.

(c) Asset-backed securities - The significant unobservable input used in the fair value measurement of these 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) 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.

(e) Market risk benefits – Many of our fixed indexed annuity products include a guaranteed living withdrawal benefit ("GLWB") that is considered a MRB. The calculation of the value of MRBs is based on significant unobservable inputs including nonmarket assumptions related to surrender rates, partial withdrawal rates, mortality, GLWB utilization and non-performance risk. These assumptions are based on actuarial estimates and past experience. Increases in assumed surrender rates would generally decrease the value of a MRB liability. Increases in partial withdrawal rates would generally decrease the value of a MRB liability. A decrease in the mortality assumption would generally increase the MRB liability. Increases in utilization rates would generally increase the value of a MRB liability. Increases in non-performance risk spread decrease the MRB liability.

(f) Embedded derivatives related to fixed indexed annuity products are classified as policyholder account liabilities on the consolidated balance sheet. The significant unobservable inputs used in the fair value measurement of our embedded derivatives associated with fixed indexed annuity products are surrender rates, partial withdrawal rates, mortality, GLWB utilization, option budget, and non-performance risk. Assumed surrender rates, partial withdrawal rates, and mortality 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. Increases (decreases) in utilization rates would generally decrease (increase) the value of the embedded derivative. Increases (decreases) in option budget in isolation would have resulted in a higher (lower) fair value measurement. Increases in non-performance risk spread result in a lower fair value measurement.

Fair value at December 31, 2025

Valuation techniques

Unobservable inputs

Range (weighted average) (a)

Assets:

Corporate securities (c)

0.5

Recovery method

% Recovery expected

50.00%

Asset-backed securities (b)

7.6

Discounted cash flow analysis

Discount margins

1.61%

Asset-backed securities (c)

3.5

Recovery method

% Recovery expected

61.24%

Equity securities (d)

64.5

Market comparables

EBITDA multiples

10.9X

Total assets

76.1

Liabilities:

Market risk benefit liability (e)

48.1

Discounted cash flow analysis

Surrender rates

0.46% - 17.68% (3.44%)

Partial withdrawal rates

0.00% - 3.00% (0.96%)

Mortality

0.03% - 39.75% (3.63%)

GLWB utilization

5.92% - 47.62% (25.07%)

Non-performance risk spread

0.09% - 0.31% (N/A)

Embedded derivatives related to fixed indexed annuity products (f)

1,600.6

Discounted projected embedded derivatives

Surrender rates

0.46% - 23.36% (6.11%)

Partial withdrawal rates

0.00% - 4.50% (2.78%)

Mortality

0.03% - 39.75% (4.05%)

GLWB utilization

5.92% - 47.62% (25.07%)

Option budget

0.90% - 3.38% (2.64%)

Non-performance risk spread

0.09% - 0.31% (N/A)

Total liabilities

1,648.7

________________

(a) The weighted average is based on the relative fair value of the related assets or liabilities.

(c) Corporate and asset-backed securities - The significant unobservable input used in the fair value measurement of these 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) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is multiples of EBITDA. Generally, increases (decreases) in the EBITDA multiples would result in higher (lower) fair value measurements.

(e) 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 nonmarket assumptions related to surrender rates, partial withdrawal rates, mortality, GLWB utilization and non-performance risk. These assumptions are based on actuarial estimates and past experience. Increases in assumed surrender rates would generally decrease the value of a MRB liability. Increases in partial withdrawal rates would generally decrease the value of a MRB liability. A decrease in the mortality assumption would generally increase the MRB liability. Increases in utilization rates would generally increase the value of a MRB liability. Increases in non-performance risk spread decrease the MRB liability.

utilization, option budget, and non-performance risk. Assumed surrender rates, partial withdrawal rates, and mortality 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. Increases (decreases) in utilization rates would generally decrease (increase) the value of the embedded derivative. Increases (decreases) in option budget in isolation would have resulted in a higher (lower) fair value measurement. Increases in non-performance risk spread result in a lower fair value measurement.

The fair value of our financial instruments not carried at fair value on a recurring basis are as follows (dollars in millions):


	September 30, 2026
	Quoted prices in active markets for identical assets or liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total estimated fair value		Total carrying amount
Assets:
Mortgage loans	$	—	$	—	$	3,290.5	$	3,290.5	$	3,437.1
Policy loans	—		—		145.6		145.6		145.6
Other invested assets:
Company-owned life insurance (a)	—		440.8		—		440.8		440.8
Cash and cash equivalents:
Unrestricted	1,409.4		—		—		1,409.4		1,409.4
Held by variable interest entities	12.0		—		—		12.0		12.0
Total	$	1,421.4	$	440.8	$	3,436.1	$	5,298.3	$	5,444.9

Liabilities:
Policyholder account balances (b)	$	—	$	—	$	18,240.6	$	18,240.6	$	18,240.6
Investment borrowings	—		3,192.9		—		3,192.9		3,191.7
Borrowings related to variable interest entities	—		276.4		—		276.4		285.0
Notes payable – direct corporate obligations	—		1,281.1		—		1,281.1		1,336.7
Total	$	—	$	4,750.4	$	18,240.6	$	22,991.0	$	23,054.0

________________

(a)Includes $218.9 million of COLI purchased as an investment vehicle to fund our agent deferred compensation plan, as further described in the footnote to the consolidated financial statements entitled "Agent Deferred Compensation Plan" within our 2025 Annual Report on Form 10-K, and a $221.9 million investment in a COLI policy for key employees that is recorded in our general account assets.

(b)Policyholder account balances represent the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. This amount excludes the embedded derivatives related to fixed indexed annuity products, which are measured at fair value on a recurring basis.


	December 31, 2025
	Quoted prices in active markets for identical assets or liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total estimated fair value		Total carrying amount
Assets:
Mortgage loans	$	—	$	—	$	3,196.9	$	3,196.9	$	3,256.8
Policy loans	—		—		140.9		140.9		140.9
Other invested assets:
Company-owned life insurance (a)	—		420.9		—		420.9		420.9
Cash and cash equivalents:
Unrestricted	956.1		—		—		956.1		956.1
Held by variable interest entities	27.4		—		—		27.4		27.4
Total	$	983.5	$	420.9	$	3,337.8	$	4,742.2	$	4,802.1

Liabilities:
Policyholder account balances (b)	$	—	$	—	$	17,312.0	$	17,312.0	$	17,312.0
Investment borrowings	—		2,443.2		—		2,443.2		2,441.7
Borrowings related to variable interest entities	—		277.1		—		277.1		274.4
Notes payable – direct corporate obligations	—		1,365.7		—		1,365.7		1,335.6
Total	$	—	$	4,086.0	$	17,312.0	$	21,398.0	$	21,363.7

________________

(a)Includes $222.3 million of COLI purchased as an investment vehicle to fund our agent deferred compensation plan, as further described in the footnote to the consolidated financial statements entitled "Agent Deferred Compensation Plan" within our 2025 Annual Report on Form 10-K, and a $198.6 million investment in a COLI policy for key employees that is recorded in our general account assets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

LIABILITIES FOR INSURANCE PRODUCTS - SCHEDULE OF AMOUNT OF REVENUE AND INTEREST, TRADITIONAL AND LIMITED PAYMENT CONTRACTS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	$ 1,927.3	$ 1,841.8
Interest accretion	365.4	362.4
Other annuities
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	4.5	6.0
Interest accretion	9.3	9.6
Supplemental health
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	573.2	554.0
Interest accretion	128.9	126.9
Medicare supplement
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	516.3	465.4
Interest accretion	7.5	7.6
Long-term care
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	277.9	264.8
Interest accretion	130.9	131.3
Traditional life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	555.4	551.6
Interest accretion	$ 88.8	$ 87.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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+ Details

THIRD-PARTY REINSURANCE	9 Months Ended
THIRD-PARTY REINSURANCE	Sep. 30, 2026
Insurance [Abstract]
THIRD-PARTY REINSURANCE	THIRD-PARTY REINSURANCE Ceded premiums and other costs of ceding business to reinsurers totaled $37.9 million and $41.0 million for the three months ended September 30, 2026 and 2025, respectively, and $114.3 million and $125.3 million for the nine months ended September 30, 2026 and 2025, respectively. We deduct this cost from insurance policy income. Reinsurance recoveries netted against insurance policy benefits totaled $93.0 million and $98.8 million for the three months ended September 30, 2026 and 2025, respectively, and $269.8 million and $277.4 million for the nine months ended September 30, 2026 and 2025, 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 $3.1 million and $3.4 million for the three months ended September 30, 2026 and 2025, respectively, and $9.7 million and $10.7 million for the nine months ended September 30, 2026 and 2025, respectively. Insurance policy benefits related to reinsurance assumed totaled $6.5 million and $5.9 million for the three months ended September 30, 2026 and 2025, respectively, and $20.9 million and $17.2 million for the nine months ended September 30, 2026 and 2025, respectively.

BUSINESS SEGMENTS - NARRATIVE (Details)	9 Months Ended
BUSINESS SEGMENTS - NARRATIVE (Details)	Sep. 30, 2026 product_line
Segment Reporting [Abstract]
Number of product lines	3
Number Of Reportable Segments Disclosed By Definition Flag	false

LIABILITIES FOR INSURANCE PRODUCTS - SCHEDULE OF WEIGHTED AVERAGE DURATIONS OF LIABILITY (Details)	Sep. 30, 2026	Sep. 30, 2025
Other annuities
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	9 years 6 months	9 years 6 months
Supplemental health
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	10 years 6 months	10 years 8 months 12 days
Medicare supplement
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	7 years 9 months 18 days	5 years 6 months
Long-term care
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	10 years 9 months 18 days	10 years 8 months 12 days
Traditional life
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration	10 years	10 years 1 month 6 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

FAIR VALUE MEASUREMENTS - SCHEDULE OF SIGNIFICANT UNOBSERVABLE (LEVEL 3) INPUTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 326.4	$ 551.6	$ 249.7	$ 324.7
Gains (losses) included in net income	$ (0.6)	$ (1.7)	$ (0.9)	$ 0.5
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Income Extensible List Not Disclosed Flag	Gains (losses) included in net income	Gains (losses) included in net income	Gains (losses) included in net income	Gains (losses) included in net income
Gains (losses) included in accumulated other comprehensive loss	$ (7.0)	$ 4.2	$ (9.7)	$ 1.2
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Other Comprehensive Income Extensible List Not Disclosed Flag	Gains (losses) included in accumulated other comprehensive loss	Gains (losses) included in accumulated other comprehensive loss	Gains (losses) included in accumulated other comprehensive loss	Gains (losses) included in accumulated other comprehensive loss
Purchases	$ 68.2	$ 177.5	$ 156.3	$ 420.0
Sales	(10.0)	(9.7)	(22.0)	(24.0)
Transfers into Level 3	184.0	10.5	195.9	89.8
Transfers out of Level 3	(36.1)	(70.1)	(44.4)	(149.9)
Ending balance	524.9	662.3	524.9	662.3
Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	$ (0.6)	$ (1.7)	$ (0.7)	$ 0.6
Fair Value Asset Recurring Basis Still Held Unrealized Gain Loss Statement Of Income Extensible List Not Disclosed Flag	Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$ (8.7)	$ 3.9	$ (12.6)	$ 0.0
Other invested assets		92.8		92.8
Fixed Maturities, Available for Sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	248.4	454.6	171.8	155.9
Gains (losses) included in net income	(0.2)	(2.0)	(0.5)	(0.3)
Gains (losses) included in accumulated other comprehensive loss	(7.0)	4.2	(9.7)	1.2
Purchases	68.2	177.5	155.9	420.0
Sales	(10.0)	(9.7)	(21.7)	(24.0)
Transfers into Level 3	184.0	10.5	195.9	89.8
Transfers out of Level 3	(36.1)	(49.6)	(44.4)	(57.1)
Ending balance	447.3	585.5	447.3	585.5
Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	(0.2)	(2.0)	(0.2)	(0.3)
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	(8.7)	3.9	(12.6)	0.0
Equity Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	73.5	94.4	73.7	73.4
Gains (losses) included in net income	(0.5)	0.3	(0.7)	0.8
Gains (losses) included in accumulated other comprehensive loss	0.0	0.0	0.0	0.0
Purchases	0.0	0.0	0.0	0.0
Sales	0.0	0.0	0.0	0.0
Transfers into Level 3	0.0	0.0	0.0	0.0
Transfers out of Level 3	0.0	(20.5)	0.0	0.0
Ending balance	73.0	74.2	73.0	74.2
Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	(0.5)	0.3	(0.7)	0.9
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	0.0	0.0	0.0	0.0
Other Invested Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	4.5	2.6	4.2	95.4
Gains (losses) included in net income	0.1	0.0	0.3	0.0
Gains (losses) included in accumulated other comprehensive loss	0.0	0.0	0.0	0.0
Purchases	0.0	0.0	0.4	0.0
Sales	0.0	0.0	(0.3)	0.0
Transfers into Level 3	0.0	0.0	0.0	0.0
Transfers out of Level 3	0.0	0.0	0.0	(92.8)
Ending balance	4.6	2.6	4.6	2.6
Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	0.1	0.0	0.2	0.0
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$ 0.0	$ 0.0	$ 0.0	$ 0.0

INCOME TAXES - NARRATIVE (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Operating Loss Carryforwards [Line Items]
Valuation allowance for deferred tax assets	$ 22.1	$ 0.0
Net deferred tax assets	$ 744.8	711.7
Federal long-term tax exempt rate	3.77%
Ownership change threshold restricting NOL usage	50.00%
Non-operating Loss Carryforwards	$ 836.1
Net state operating loss carryforwards	35.6	38.0
Capital loss carryforward	105.1	$ 53.7
No Expiration Date \| Non-Life
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	765.9
No Expiration Date \| Life
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 70.2

SHAREHOLDERS' EQUITY - SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Equity [Abstract]
Net unrealized losses on investments having no allowance for credit losses	$ (1,366.6)	$ (661.6)
Unrealized losses on investments with an allowance for credit losses	(1,862.8)	(1,193.9)
Change in discount rates for liability for future policy benefits	1,244.2	421.1
Change in instrument-specific credit risk for market risk benefits	0.7	0.9
Deferred income tax assets	438.7	318.5
Accumulated other comprehensive loss	(1,545.8)	(1,115.0)
Amortized cost	2.7	12.0
Total fixed maturities, available for sale	$ 2.6	$ 13.0

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References

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+ Details

INCOME TAXES

9 Months Ended

Sep. 30, 2026

Income Tax Disclosure [Abstract]

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.

During the nine months ended September 30, 2026, we generated capital losses primarily from asset sales in anticipation of executing the internal reinsurance transaction on October 1, 2026, portfolio optimization activities and from capital loss allocations from partnership investments. During the third quarter, higher interest rates reduced the level of unrealized capital gains in the insurance companies' available-for-sale fixed maturity securities portfolio that could serve as a source of taxable income to support realization of the resulting capital loss carryforwards. Based on our evaluation of all available positive and negative evidence as of September 30, 2026, management concluded that it is more likely than not that all of the deferred tax assets associated with these capital loss carryforwards will not be realized before expiration. Accordingly, we recorded a valuation allowance of $22.1 million against these deferred tax assets during the period.

We have not recorded a valuation allowance against deferred tax assets associated with unrealized losses on our available-for-sale fixed maturity securities. In evaluating the realizability of these deferred tax assets, we considered our intent and ability to hold the underlying securities until recovery or maturity, available and feasible tax planning strategies that could be implemented, if necessary, to support realization of our deferred tax asset, as well as the expected reversal of the related temporary differences and other available sources of taxable income. Our operating cash flows, capital resources and available sources of liquidity further support our ability to hold securities in an unrealized loss position until recovery or maturity without

the need to sell such securities to meet near-term liquidity requirements. Based on our evaluation of all available positive and negative evidence, we concluded that it is more likely than not that these deferred tax assets will be realized.

The components of income tax expense are as follows (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Current tax expense	$	8.7	$	16.0	$	22.8	$	19.5
Deferred tax expense	34.5		12.2		64.9		41.2
Total income tax expense calculated based on estimated annual effective tax rate	43.2		28.2		87.7		60.7
Income tax expense (benefit) on discrete items:
Change in valuation allowance for deferred tax assets	22.1		—		22.1		—
Goodwill and other asset impairment	—		(15.1)		—		(15.1)
Total income tax expense	$	65.3	$	13.1	$	109.8	$	45.6

A reconciliation of the U.S. statutory corporate tax rate to the estimated annual effective tax rate, reflected in the consolidated statement of operations is as follows:


	Nine months ended
	September 30,
	2026		2025
U.S. statutory corporate rate	21.0	%	21.0	%
Non-taxable income and nondeductible benefits, net	(2.4)		(1.0)

State taxes	1.6		2.1
Estimated annual effective tax rate calculated before discrete items	20.2	%	22.1	%
Impact on the estimated annual effective tax rate from discrete items:
Valuation allowance for deferred tax assets	5.1		—
Goodwill and other asset impairment	—		2.9
Estimated annual effective tax rate	25.3	%	25.0	%

The components of the Company's income tax assets and liabilities are summarized below (dollars in millions):


	September 30, 2026		December 31, 2025
Deferred tax assets:
Net federal operating loss carryforwards	$	175.6	$	205.0
Net state operating loss carryforwards	35.6		38.0

Capital loss carryforwards	22.1		11.3

Insurance liabilities	337.1		362.3
Indirect costs allocable to self-constructed real estate assets	0.9		0.9
Accumulated other comprehensive loss	430.9		310.3
Other	21.3		19.2
Gross deferred tax assets	1,023.5		947.0
Deferred tax liabilities:
Investments	(49.6)		(47.9)
Deferred acquisition costs, present value of future profits, and sales inducements	(207.0)		(187.4)

Gross deferred tax liabilities	(256.6)		(235.3)
Net deferred tax assets before valuation allowance	766.9		711.7
Valuation allowance for deferred tax assets	(22.1)		—
Net deferred tax assets	744.8		711.7
Current income taxes prepaid (accrued)	15.0		1.6
Income tax assets, net	$	759.8	$	713.3

Our income tax expense includes deferred income taxes arising from temporary differences between the financial reporting and tax bases of assets and liabilities and NOLs. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which temporary differences are expected to be recovered or paid. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in earnings in the period when the changes are enacted.

A reduction of the net carrying amount of deferred tax assets by establishing a valuation allowance is required if, based on the available evidence, it is more likely than not that such assets will not be realized. In assessing the need for a valuation allowance, all available evidence, both positive and negative, are considered to determine whether, based on the weight of that evidence, a valuation allowance for deferred tax assets is needed. This assessment requires significant judgment and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of carryforward periods, our experience with operating loss and tax credit carryforwards expiring unused, and tax planning strategies.

We evaluate the need to establish a valuation allowance for our deferred income tax assets on an ongoing basis using a deferred tax valuation model. Our model is adjusted to reflect changes in our projections of future taxable income. 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 and excluding the previously discussed valuation allowance on capital loss carryforwards, we have concluded that it is more likely than not that our remaining net deferred tax assets of $744.8 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.

Section 382 of the Internal Revenue Code (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 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 (3.77 percent at September 30, 2026), and the annual restriction could limit our ability to use a 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 September 30, 2026, we were below the 50 percent ownership change level that could limit our ability to utilize our NOLs.

We have $836.1 million of federal NOLs as of September 30, 2026. Our non-life NOLs with no expiration date of $765.9 million can generally be used to offset 35 percent of life insurance company taxable income and 80 percent of non-life company taxable income. Our life NOLs with no expiration date of $70.2 million can be used to offset 80 percent of CNO Bermuda Re, Ltd. taxable income, subject to certain limitations in the Code.

We also had deferred tax assets related to NOLs for state income taxes of $35.6 million and $38.0 million at September 30, 2026 and December 31, 2025, 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.

The Company had a capital loss carryforward of $105.1 million and $53.7 million at September 30, 2026 and December 31, 2025, respectively. Capital loss carryforwards can be carried forward for up to five years to offset future capital gains. However, as discussed above, we recorded a full valuation allowance of $22.1 million against the tax-effected capital loss carryforward at September 30, 2026 as realization of the related deferred tax assets prior to the expiration date in 2030 is not considered more likely than not.

The Internal Revenue Service ("IRS") is currently examining the Company's consolidated federal income tax returns for tax years 2016 through 2018 and has notified the Company that tax years 2021, 2022 and 2024 will be subject to examination. The federal statute of limitations generally remains open with respect to tax years 2016 through 2025. The Company evaluates tax positions and records reserves for uncertain tax positions when appropriate. The ultimate resolution of these examinations remains subject to review by the IRS. The Company's various state income tax returns are generally open for tax years based on individual state statutes of limitation. Generally, for tax years which generate NOLs, capital losses or tax credit carryforwards, the statute remains open until the expiration of the statute of limitations for the tax year in which such carryforwards are utilized. The outcome of tax audits cannot be predicted with certainty. If the Company's tax audits are not resolved in a manner consistent with management’s expectations, the Company may be required to adjust its provision for income taxes.

On July 4, 2025, the One Big Beautiful Bill Act of 2025 was enacted in the United States, which among other things, provides permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. These changes primarily impacted the timing of our tax deductions and did not have a material impact on our financial position or results of operations.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

INVESTMENT BORROWINGS

9 Months Ended

Sep. 30, 2026

Investment Borrowings [Abstract]

INVESTMENT BORROWINGS

Three of the Company's insurance subsidiaries (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 from the FHLB on a collateralized basis. As of September 30, 2026, collateralized borrowings from the FHLB totaled $3.2 billion and are classified as investment borrowings in the accompanying consolidated balance sheet. The borrowings are collateralized by investments with an estimated fair value of $3.9 billion at September 30, 2026, 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 proceeds from these borrowings were used to purchase matched variable rate fixed maturity securities with similar durations.

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 September 30, 2026, the carrying value of the FHLB common stock was $140.7 million.

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

September 30, 2026

10.0

November 2026

Variable rate - 4.354%

75.0

January 2027

Variable rate - 4.109%

50.0

January 2027

Variable rate - 4.197%

50.0

January 2027

Variable rate - 4.360%

10.0

June 2027

Variable rate - 4.473%

12.5

September 2027

Variable rate - 4.406%

75.0

January 2028

Variable rate - 4.343%

134.5

January 2028

Variable rate - 4.333%

50.0

January 2028

Variable rate - 4.237%

50.0

January 2028

Variable rate - 4.252%

100.0

January 2028

Variable rate - 4.198%

100.0

February 2028

Variable rate - 4.284%

21.0

February 2028

Variable rate - 4.172%

22.0

February 2028

Variable rate - 4.255%

100.0

February 2028

Variable rate - 4.297%

27.0

July 2028

Variable rate - 4.428%

15.0

July 2028

Variable rate - 4.260%

35.0

August 2028

Variable rate - 4.270%

12.5

September 2028

Variable rate - 4.502%

42.2

May 2029

Variable rate - 4.503%

200.0

July 2029

Variable rate - 4.330%

100.0

August 2029

Variable rate - 4.233%

50.0

August 2029

Variable rate - 4.518%

75.0

August 2029

Variable rate - 4.403%

100.0

September 2029

Variable rate - 4.245%

65.5

September 2029

Variable rate - 4.378%

57.7

September 2029

Variable rate - 4.454%

50.0

April 2030

Variable rate - 4.408%

50.0

May 2030

Variable rate - 4.404%

100.0

May 2030

Variable rate - 4.395%

100.0

August 2030

Variable rate - 4.252%

50.0

August 2030

Variable rate - 4.324%

200.0

August 2030

Variable rate - 4.337%

100.0

August 2030

Variable rate - 4.283%

125.0

September 2030

Variable rate - 4.380%

50.0

January 2031

Variable rate - 4.269%

50.0

January 2031

Variable rate - 4.260%

100.0

January 2031

Variable rate- 4.378%

150.0

February 2031

Variable rate - 4.404%

100.0

February 2031

Variable rate - 4.450%

50.0

April 2031

Variable rate - 4.312%

50.0

April 2031

Variable rate - 4.302%

50.0

April 2031

Variable rate - 4.493%


100.0		April 2031	Variable rate - 4.461%
5.0		May 2031	Variable rate - 4.317%
21.8		May 2031	Variable rate - 4.300%
50.0		May 2031	Variable rate - 4.381%


$	3,191.7

Generally, these borrowings are pre-payable. At September 30, 2026, the aggregate prepayment penalty on such outstanding borrowings was not material.

Interest expense of $89.5 million and $83.4 million during the nine months ended September 30, 2026 and 2025, respectively, was recognized related to total borrowings from the FHLB, reflecting higher average investment borrowings partially offset by lower interest rates on the variable rate investment borrowings during the nine months ended September 30, 2026.

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF BALANCE SHEET ITEMS (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Assets:
Investments held by variable interest entities	$ 307.8	$ 293.0
Cash and cash equivalents held by variable interest entities	12.0	27.4
Accrued investment income	302.3	286.0
Income tax assets, net	759.8	713.3
Total assets	39,306.7	38,790.6
Liabilities:
Other liabilities	1,047.0	952.8
Borrowings related to variable interest entities	285.0	274.4
Total liabilities	36,983.0	36,152.4
Variable Interest Entity, Primary Beneficiary
Assets:
Investments held by variable interest entities	307.8	293.0
Cash and cash equivalents held by variable interest entities	12.0	27.4
Accrued investment income	1.0	1.0
Income tax assets, net	16.9	16.0
Other assets	0.0	0.4
Total assets	337.7	337.8
Liabilities:
Other liabilities	3.4	15.8
Borrowings related to variable interest entities	285.0	274.4
Total liabilities	$ 288.4	$ 290.2

NOTES PAYABLE – DIRECT CORPORATE OBLIGATIONS

9 Months Ended

Sep. 30, 2026

Debt Disclosure [Abstract]

NOTES PAYABLE – DIRECT CORPORATE OBLIGATIONS

The following notes payable were direct corporate obligations of the Company as of September 30, 2026 and December 31, 2025 (dollars in millions):


	September 30, 2026		December 31, 2025
6.450% Senior Notes due June 2034	$	700.0	$	700.0
5.125% Subordinated Debentures due 2060	150.0		150.0
5.250% Senior Notes due May 2029	500.0		500.0
Unamortized discount on 6.450% Senior Notes due June 2034	(1.9)		(2.0)
Unamortized debt issue costs	(11.4)		(12.4)
Direct corporate obligations	$	1,336.7	$	1,335.6

Credit Agreement

On May 8, 2025, the Company entered into a sixth amendment and restatement agreement (the "Credit Agreement") with respect to its existing credit agreement. The $250.0 million Credit Agreement, among other things, requires the Company to maintain (each as calculated in accordance with the 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 15.0 percent of total capitalization) of not more than 35.0 percent (such ratio was 23.3 percent at September 30, 2026); and (ii) a minimum consolidated net worth of not less than the sum of (x) $2,674.0 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, including the conversion of debt securities of the Company into equity interests (the Company's consolidated net worth was $3,869.5 million at September 30, 2026 compared to the minimum requirement of $2,676.3 million). The maturity date of the Credit Agreement is May 8, 2030. The Credit Agreement contains certain other restrictive covenants with which the Company must comply. The interest rate applicable to loans under the Credit Agreement is calculated as the Secured Overnight Financing Rate ("SOFR") or the base rate (as defined in the Credit Agreement), at the Company's option, plus a margin based on the Company's unsecured debt rating. The applicable margins under the Credit Agreement range from 1.125 percent to 1.750 percent, in the case of loans at the SOFR, and 0.125 percent to 0.750 percent, in the case of loans at the base rate. The commitment fee under the Credit Agreement is based on the Company's unsecured debt rating. The Credit Agreement also provides that the Company may incur up to $200 million of incremental loans (which may include new term loans), subject to conditions that are set forth therein.

As of September 30, 2026, we are in compliance with the covenants of the Credit Agreement. There were no amounts outstanding under the Credit Agreement during the nine months ended or as of September 30, 2026.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONSOLIDATED STATEMENT OF CASH FLOWS (Tables)

9 Months Ended

Sep. 30, 2026

Supplemental Cash Flow Elements [Abstract]

Schedule of the Reconciliation for Net Income Provided by Operating Activities

The following reconciles net income to net cash from operating activities (dollars in millions):


	Nine months ended
	September 30,
	2026		2025
Net income	$	324.7	$	136.4
Adjustments to reconcile net income to net cash from operating activities:
Amortization and depreciation	252.3		236.7
Income taxes	73.5		36.1
Insurance liabilities	357.1		461.4
Accrual, amortization and fair value changes included in investment income	(183.5)		(174.5)
Deferral of policy acquisition costs and sales inducements	(387.0)		(377.8)
Net investment losses	102.1		28.2

Gain on extinguishment of borrowings related to variable interest entities	—		(1.5)
Goodwill and other asset impairment	—		96.7
Other, net (a)	8.2		38.3
Net cash from operating activities	$	547.4	$	480.0

________________

(a) Primarily relates to changes in other assets and liabilities related to the timing of payments and receipts.

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):


	Nine months ended
	September 30,
	2026		2025
Stock options, restricted stock, performance units, and Employee Stock Purchase Program	$	25.9	$	20.4

INCOME TAXES - SCHEDULE OF DEFERRED ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Deferred tax assets:
Net federal operating loss carryforwards	$ 175.6	$ 205.0
Net state operating loss carryforwards	35.6	38.0
Capital loss carryforwards	22.1	11.3
Insurance liabilities	337.1	362.3
Indirect costs allocable to self-constructed real estate assets	0.9	0.9
Accumulated other comprehensive loss	430.9	310.3
Other	21.3	19.2
Gross deferred tax assets	1,023.5	947.0
Deferred tax liabilities:
Investments	(49.6)	(47.9)
Deferred acquisition costs, present value of future profits, and sales inducements	(207.0)	(187.4)
Gross deferred tax liabilities	(256.6)	(235.3)
Net deferred tax assets before valuation allowance	766.9	711.7
Valuation allowance for deferred tax assets	(22.1)	0.0
Net deferred tax assets	744.8	711.7
Current income taxes prepaid (accrued)	15.0	1.6
Income tax assets, net	$ 759.8	$ 713.3

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS

9 Months Ended

Sep. 30, 2026

Deferred Charges, Insurers [Abstract]

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS

Changes in deferred acquisition costs were as follows (dollars in millions):


	Nine months ended
	September 30, 2026
	Fixed indexed annuities		Fixed interest annuities		Supplemental health		Medicare supplement		Long-term care		Interest-sensitive life		Traditional life		Funding agreements		Total
Beginning of period	$	497.4	$	41.8	$	473.5	$	162.9	$	165.3	$	277.5	$	592.2	$	10.1	$	2,220.7
Capitalizations	87.6		7.4		56.5		30.6		26.4		32.7		99.4		2.3		342.9
Amortization expense	(52.6)		(5.4)		(30.6)		(18.9)		(12.7)		(13.6)		(57.0)		(3.4)		(194.2)
End of period	$	532.4	$	43.8	$	499.4	$	174.6	$	179.0	$	296.6	$	634.6	$	9.0	$	2,369.4


	Nine months ended
	September 30, 2025
	Fixed indexed annuities		Fixed interest annuities		Supplemental health		Medicare supplement		Long-term care		Interest-sensitive life		Traditional life		Funding agreements		Total
Beginning of period	$	450.0	$	35.9	$	438.1	$	157.4	$	148.6	$	256.0	$	529.5	$	9.9	$	2,025.4
Capitalizations	81.7		9.1		53.7		21.7		22.6		28.1		111.4		1.8		330.1
Amortization expense	(47.8)		(4.8)		(27.9)		(18.6)		(11.7)		(12.5)		(51.1)		(2.4)		(176.8)
End of period	$	483.9	$	40.2	$	463.9	$	160.5	$	159.5	$	271.6	$	589.8	$	9.3	$	2,178.7

Changes in the present value of future profits were as follows (dollars in millions):


	Nine months ended
	September 30, 2026
	Supplemental health		Medicare supplement		Long-term care		Traditional life		Fixed indexed annuities		Fixed interest annuities		Total
Beginning of period	$	117.4	$	12.0	$	3.7	$	9.9	$	0.4	$	0.2	$	143.6

Amortization expense	(8.2)		(2.3)		(0.4)		(1.0)		—		—		(11.9)
End of period	$	109.2	$	9.7	$	3.3	$	8.9	$	0.4	$	0.2	$	131.7


	Nine months ended
	September 30, 2025
	Supplemental health		Medicare supplement		Long-term care		Traditional life		Fixed indexed annuities		Fixed interest annuities		Total
Beginning of period	$	128.8	$	15.7	$	4.4	$	11.3	$	0.5	$	0.3	$	161.0

Amortization expense	(8.7)		(2.8)		(0.5)		(1.1)		—		(0.1)		(13.2)
End of period	$	120.1	$	12.9	$	3.9	$	10.2	$	0.5	$	0.2	$	147.8

Changes in sales inducements were as follows (dollars in millions):


	Nine months ended
	September 30, 2026
	Fixed indexed annuities		Fixed interest annuities		Total
Beginning of period	$	170.1	$	6.5	$	176.6
Capitalizations	42.7		1.4		44.1
Amortization expense	(18.9)		(0.9)		(19.8)
End of period	$	193.9	$	7.0	$	200.9


	Nine months ended
	September 30, 2025
	Fixed indexed annuities		Fixed interest annuities		Total
Beginning of period	$	128.1	$	5.1	$	133.2
Capitalizations	45.8		1.9		47.7
Amortization expense	(15.1)		(0.8)		(15.9)
End of period	$	158.8	$	6.2	$	165.0

FAIR VALUE MEASUREMENTS - SCHEDULE OF RECURRING BASIS (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Other invested assets:
Company-owned life insurance	$ 218.9	$ 222.3
Cash and cash equivalents:
Held by variable interest entities	12.0	27.4
Total assets	39,306.7	38,790.6
Liabilities, Fair Value Disclosure [Abstract]
Total liabilities	36,983.0	36,152.4
Key Employee
Other invested assets:
Company-owned life insurance	221.9	198.6
Total estimated fair value
Assets:
Mortgage loans	3,290.5	3,196.9
Policy loans	145.6	140.9
Other invested assets:
Company-owned life insurance	440.8	420.9
Cash and cash equivalents:
Unrestricted	1,409.4	956.1
Held by variable interest entities	12.0	27.4
Total assets	5,298.3	4,742.2
Liabilities, Fair Value Disclosure [Abstract]
Policyholder account balances	18,240.6	17,312.0
Investment borrowings	3,192.9	2,443.2
Borrowings related to variable interest entities	276.4	277.1
Notes payable – direct corporate obligations	1,281.1	1,365.7
Total liabilities	22,991.0	21,398.0
Total carrying amount
Assets:
Mortgage loans	3,437.1	3,256.8
Policy loans	145.6	140.9
Other invested assets:
Company-owned life insurance	440.8	420.9
Cash and cash equivalents:
Unrestricted	1,409.4	956.1
Held by variable interest entities	12.0	27.4
Total assets	5,444.9	4,802.1
Liabilities, Fair Value Disclosure [Abstract]
Policyholder account balances	18,240.6	17,312.0
Investment borrowings	3,191.7	2,441.7
Borrowings related to variable interest entities	285.0	274.4
Notes payable – direct corporate obligations	1,336.7	1,335.6
Total liabilities	23,054.0	21,363.7
Quoted prices in active markets for identical assets or liabilities (Level 1)
Assets:
Mortgage loans	0.0	0.0
Policy loans	0.0	0.0
Other invested assets:
Company-owned life insurance	0.0	0.0
Cash and cash equivalents:
Unrestricted	1,409.4	956.1
Held by variable interest entities	12.0	27.4
Total assets	1,421.4	983.5
Liabilities, Fair Value Disclosure [Abstract]
Policyholder account balances	0.0	0.0
Investment borrowings	0.0	0.0
Borrowings related to variable interest entities	0.0	0.0
Notes payable – direct corporate obligations	0.0	0.0
Total liabilities	0.0	0.0
Significant other observable inputs (Level 2)
Assets:
Mortgage loans	0.0	0.0
Policy loans	0.0	0.0
Other invested assets:
Company-owned life insurance	440.8	420.9
Cash and cash equivalents:
Unrestricted	0.0	0.0
Held by variable interest entities	0.0	0.0
Total assets	440.8	420.9
Liabilities, Fair Value Disclosure [Abstract]
Policyholder account balances	0.0	0.0
Investment borrowings	3,192.9	2,443.2
Borrowings related to variable interest entities	276.4	277.1
Notes payable – direct corporate obligations	1,281.1	1,365.7
Total liabilities	4,750.4	4,086.0
Significant unobservable inputs (Level 3)
Assets:
Mortgage loans	3,290.5	3,196.9
Policy loans	145.6	140.9
Other invested assets:
Company-owned life insurance	0.0	0.0
Cash and cash equivalents:
Unrestricted	0.0	0.0
Held by variable interest entities	0.0	0.0
Total assets	3,436.1	3,337.8
Liabilities, Fair Value Disclosure [Abstract]
Policyholder account balances	18,240.6	17,312.0
Investment borrowings	0.0	0.0
Borrowings related to variable interest entities	0.0	0.0
Notes payable – direct corporate obligations	0.0	0.0
Total liabilities	$ 18,240.6	$ 17,312.0

NOTES PAYABLE – DIRECT CORPORATE OBLIGATIONS (Tables)

9 Months Ended

Sep. 30, 2026

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

The following notes payable were direct corporate obligations of the Company as of September 30, 2026 and December 31, 2025 (dollars in millions):


	September 30, 2026		December 31, 2025
6.450% Senior Notes due June 2034	$	700.0	$	700.0
5.125% Subordinated Debentures due 2060	150.0		150.0
5.250% Senior Notes due May 2029	500.0		500.0
Unamortized discount on 6.450% Senior Notes due June 2034	(1.9)		(2.0)
Unamortized debt issue costs	(11.4)		(12.4)
Direct corporate obligations	$	1,336.7	$	1,335.6

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

+ Details

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF CHANGES IN ALLOWANCE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	$ 41.5	$ 39.1	$ 36.0	$ 37.1
Additions for securities for which credit losses were not previously recorded	8.8	0.4	22.1	3.5
Additions (reductions) for securities where an allowance was previously recorded	7.8	(5.1)	6.6	(4.2)
Reductions for securities disposed during the period	(1.2)	(1.4)	(7.8)	(3.4)
Allowance at the end of the period	56.9	33.0	56.9	33.0
Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	35.3	33.1	30.2	31.1
Additions for securities for which credit losses were not previously recorded	8.6	0.4	21.7	3.5
Additions (reductions) for securities where an allowance was previously recorded	7.3	(4.6)	5.9	(3.7)
Reductions for securities disposed during the period	(1.1)	(1.4)	(7.7)	(3.4)
Allowance at the end of the period	50.1	27.5	50.1	27.5
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	1.6	2.3	0.6	1.3
Additions for securities for which credit losses were not previously recorded	0.2	0.2	1.1	1.3
Additions (reductions) for securities where an allowance was previously recorded	(0.3)	0.0	(0.1)	1.4
Reductions for securities disposed during the period	0.0	(2.0)	(0.1)	(3.5)
Allowance at the end of the period	$ 1.5	$ 0.5	$ 1.5	$ 0.5

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS - SCHEDULE OF SALES INDUCEMENTS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Fixed indexed annuities
Movement in Deferred Sales Inducements [Roll Forward]
Beginning of period	$ 170.1	$ 128.1
Capitalizations	42.7	45.8
Amortization expense	(18.9)	(15.1)
End of period	193.9	158.8
Fixed interest annuities
Movement in Deferred Sales Inducements [Roll Forward]
Beginning of period	6.5	5.1
Capitalizations	1.4	1.9
Amortization expense	(0.9)	(0.8)
End of period	7.0	6.2
Annuity
Movement in Deferred Sales Inducements [Roll Forward]
Beginning of period	176.6	133.2
Capitalizations	44.1	47.7
Amortization expense	(19.8)	(15.9)
End of period	$ 200.9	$ 165.0

INCOME TAXES - SCHEDULE OF RECONCILIATION OF CORPORATE TAX RATE (Details)	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Income Tax Disclosure [Abstract]
U.S. statutory corporate rate	21.00%	21.00%
Non-taxable income and nondeductible benefits, net	(2.40%)	(1.00%)
State taxes	1.60%	2.10%
Estimated annual effective tax rate calculated before discrete items	20.20%	22.10%
Valuation allowance for deferred tax assets	5.10%	0.00%
Goodwill and other asset impairment	0.00%	2.90%
Estimated annual effective tax rate	25.30%	25.00%

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS - SCHEDULE OF DEFERRED ACQUISITION COSTS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	$ 2,220.7	$ 2,025.4
Capitalizations	342.9	330.1
Amortization expense	(194.2)	(176.8)
End of period	2,369.4	2,178.7
Fixed indexed annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	497.4	450.0
Capitalizations	87.6	81.7
Amortization expense	(52.6)	(47.8)
End of period	532.4	483.9
Fixed interest annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	41.8	35.9
Capitalizations	7.4	9.1
Amortization expense	(5.4)	(4.8)
End of period	43.8	40.2
Supplemental health
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	473.5	438.1
Capitalizations	56.5	53.7
Amortization expense	(30.6)	(27.9)
End of period	499.4	463.9
Medicare supplement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	162.9	157.4
Capitalizations	30.6	21.7
Amortization expense	(18.9)	(18.6)
End of period	174.6	160.5
Long-term care
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	165.3	148.6
Capitalizations	26.4	22.6
Amortization expense	(12.7)	(11.7)
End of period	179.0	159.5
Interest-sensitive life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	277.5	256.0
Capitalizations	32.7	28.1
Amortization expense	(13.6)	(12.5)
End of period	296.6	271.6
Traditional life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	592.2	529.5
Capitalizations	99.4	111.4
Amortization expense	(57.0)	(51.1)
End of period	634.6	589.8
Funding agreements
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning of period	10.1	9.9
Capitalizations	2.3	1.8
Amortization expense	(3.4)	(2.4)
End of period	$ 9.0	$ 9.3

INVESTMENTS IN VARIABLE INTEREST ENTITIES (Tables)

9 Months Ended

Sep. 30, 2026

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):


	September 30, 2026		December 31, 2025
Assets:
Investments held by variable interest entities	$	307.8	$	293.0
Cash and cash equivalents held by variable interest entities	12.0		27.4
Accrued investment income	1.0		1.0
Income tax assets, net	16.9		16.0
Other assets	—		0.4
Total assets	$	337.7	$	337.8
Liabilities:
Other liabilities	$	3.4	$	15.8
Borrowings related to variable interest entities	285.0		274.4
Total liabilities	$	288.4	$	290.2

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 corporate securities held by VIEs (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Allowance at the beginning of the period	$	1.6	$	2.3	$	0.6	$	1.3
Additions for securities for which credit losses were not previously recorded	0.2		0.2		1.1		1.3
Additions (reductions) for securities where an allowance was previously recorded	(0.3)		—		(0.1)		1.4
Reductions for securities disposed during the period	—		(2.0)		(0.1)		(3.5)
Allowance at the end of the period	$	1.5	$	0.5	$	1.5	$	0.5

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 September 30, 2026, 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 cost		Estimated fair value
	(Dollars in millions)

Due after one year through five years	$	155.3	$	152.4
Due after five years through ten years	156.1		155.4

Total	$	311.4	$	307.8

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

LITIGATION AND OTHER LEGAL PROCEEDINGS (Details) $ in Millions	Mar. 25, 2022 policyholder	Jun. 18, 2025 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of policyholders \| policyholder	2,000
Litigation, verdict infavor of the class representatives amount \| $		$ 0.2

DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value by Balance Sheet Location


	September 30, 2026		December 31, 2025
Assets:
Other invested assets:
Fixed indexed call options	$	270.2	$	323.5
Reinsurance receivables	(18.1)		(15.3)
Total assets	$	252.1	$	308.2
Liabilities:
Embedded derivatives related to fixed indexed annuities at fair value:
Policyholder account balances	$	1,578.7	$	1,600.6

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				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Net investment income (loss) from policyholder and other special-purpose portfolios:
Fixed indexed call options	$	0.4	$	98.3	$	96.9	$	108.7
Total investment gains (losses):
Embedded derivative related to modified coinsurance agreement	(2.2)		0.5		(2.8)		1.8
Total revenues from derivative instruments, not designated as hedges	(1.8)		98.8		94.1		110.5
Insurance policy benefits:
Embedded derivatives related to fixed indexed annuities	(102.5)		103.4		(13.4)		150.2
Net pre-tax impact	$	100.7	$	(4.6)	$	107.5	$	(39.7)

Schedule of Derivatives with Master Netting Arrangements

The following table summarizes information related to derivatives with master netting arrangements or collateral as of September 30, 2026 and December 31, 2025 (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
September 30, 2026:
	Fixed indexed call options	$	270.2	$	—	$	270.2	$	30.5	$	—	$	239.7
December 31, 2025:
	Fixed indexed call options	323.5		—		323.5		43.5		—		280.0

- Definition

Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

+ References + Details

EARNINGS PER SHARE (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Earnings Per Share [Abstract]
Net income for basic earnings per share	$ 161.1	$ 23.1	$ 324.7	$ 136.4
Net income for diluted earnings per share	$ 161.1	$ 23.1	$ 324.7	$ 136.4
Shares:
Weighted average shares outstanding for basic earnings per share (in shares)	92,195	96,603	93,156	98,639
Effect of dilutive securities on weighted average shares:
Amounts related to employee benefit plans (in shares)	2,058	1,950	1,959	2,031
Weighted average shares outstanding for diluted earnings per share (in shares)	94,253	98,553	95,115	100,670

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479857/480-10-S50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479887/480-10-S45-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3A
-Subparagraph (24)(d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480244/480-10-S99-3A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-9

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Name Accounting Standards Codification
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-Paragraph 5
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

INVESTMENTS IN VARIABLE INTEREST ENTITIES

9 Months Ended

Sep. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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 our consolidated VIEs are collateralized loan trusts that were established to issue securities to finance the purchase of commercial bank 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 of $112.5 million.

Interest expense of $11.7 million and $19.4 million for the nine months ended September 30, 2026 and 2025, respectively, was recognized related to total borrowings related to the VIEs.

Certain of our subsidiaries are note holders 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):


	September 30, 2026		December 31, 2025
Assets:
Investments held by variable interest entities	$	307.8	$	293.0
Cash and cash equivalents held by variable interest entities	12.0		27.4
Accrued investment income	1.0		1.0
Income tax assets, net	16.9		16.0
Other assets	—		0.4
Total assets	$	337.7	$	337.8
Liabilities:
Other liabilities	$	3.4	$	15.8
Borrowings related to variable interest entities	285.0		274.4
Total liabilities	$	288.4	$	290.2

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 September 30, 2026, such loans had an amortized cost of $311.4 million; gross unrealized gains of $0.4 million; gross unrealized losses of $2.5 million; allowance for credit losses of $1.5 million; and an estimated fair value of $307.8 million.

The following table summarizes changes in the allowance for credit losses related to corporate securities held by VIEs (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Allowance at the beginning of the period	$	1.6	$	2.3	$	0.6	$	1.3
Additions for securities for which credit losses were not previously recorded	0.2		0.2		1.1		1.3
Additions (reductions) for securities where an allowance was previously recorded	(0.3)		—		(0.1)		1.4
Reductions for securities disposed during the period	—		(2.0)		(0.1)		(3.5)
Allowance at the end of the period	$	1.5	$	0.5	$	1.5	$	0.5


	Amortized cost		Estimated fair value
	(Dollars in millions)

Due after one year through five years	$	155.3	$	152.4
Due after five years through ten years	156.1		155.4

Total	$	311.4	$	307.8

During the nine months ended September 30, 2026, the VIEs recognized net investment losses of $2.0 million, which were comprised of: (i) $1.1 million of net losses from the sales of fixed maturities and (ii) an increase in the allowance for credit losses of $0.9 million. Such net realized losses included gross realized losses of $1.1 million from the sale of $15.3 million of investments.

During the nine months ended September 30, 2025, the VIEs recognized net investment losses of $6.1 million which were comprised of: (i) $6.9 million of net losses from the sales of fixed maturities and (ii) a decrease in the allowance for credit losses of $0.8 million. Such net realized losses included gross realized losses of $7.3 million from the sale of $88.2 million of investments.

At September 30, 2026, there were no fixed maturity investments held by the VIEs in default.

At September 30, 2026, the VIEs held: (i) investments (for which an allowance for credit losses has not been recorded) with a fair value of $83.3 million and gross unrealized losses not deemed to have credit losses of $0.6 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 $77.4 million and gross unrealized losses of $0.8 million that had been in an unrealized loss position for greater than twelve months.

At December 31, 2025, the VIEs held: (i) investments (for which an allowance for credit losses has not been recorded) with a fair value of $86.7 million and gross unrealized losses of $0.9 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 $34.2 million and gross unrealized losses of $0.3 million that had been in an unrealized loss position for greater than twelve months.

The investments held by the VIEs are evaluated for impairment in a manner that is consistent with the Company's fixed maturities, available for sale.

In addition, the Company, in the normal course of business, makes passive investments in structured securities issued by non-consolidated 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 September 30, 2026, we held investments of $848.0 million in various limited partnerships and limited liability companies, in which we are not the primary beneficiary. These investments are included within other invested assets on the consolidated balance sheet and typically reported to us one quarter in arrears. At September 30, 2026, we had unfunded commitments to these partnerships totaling $760.2 million. Our maximum exposure to loss on these investments is limited to the amount of our investment and any unfunded commitments.

CONSOLIDATED STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2026	Dec. 31, 2025	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]
Net income	$ 161.1		$ 23.1	$ 324.7	$ 136.4
Adjustments to reconcile net income to net cash from operating activities:
Amortization and depreciation				252.3	236.7
Income taxes				73.5	36.1
Insurance liabilities				357.1	461.4
Accrual, amortization and fair value changes included in investment income				(183.5)	(174.5)
Deferral of policy acquisition costs and sales inducements				(387.0)	(377.8)
Net investment losses				102.1	28.2
Gain on extinguishment of borrowings related to variable interest entities				0.0	(1.5)
Goodwill and other asset impairment	$ 0.0	$ 5.2	$ 96.7	0.0	96.7
Other, net				8.2	38.3
Net cash provided by operating activities				547.4	480.0
Stock options, restricted stock, performance units, and Employee Stock Purchase Program				$ 25.9	$ 20.4

FAIR VALUE MEASUREMENTS - NARRATIVE (Details)	9 Months Ended
FAIR VALUE MEASUREMENTS - NARRATIVE (Details)	Sep. 30, 2026
Fair Value Disclosures [Abstract]
Fair value of level 3 fixed maturity securities and trading securities valued using broker quotes, percentage	98.00%
Available for sale fixed maturities classified as level 3, investment grade, percent	86.00%
Available for sale fixed maturities classified as Level 3 and corporate securities	78.00%

LIABILITIES FOR INSURANCE PRODUCTS - SCHEDULE OF OF AMOUNT OF UNDISCOUNTED AND DISCOUNTED EXPECTED GROSS PREMIUMS AND EXPECTED FUTURE BENEFITS (Details) - USD ($) $ in Millions	Sep. 30, 2026	Sep. 30, 2025
Other annuities
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	$ 0.0	$ 0.0
Expected future gross premiums (Discounted)	0.0	0.0
Expected future benefits and expenses (Undiscounted)	286.2	312.8
Expected future benefits and expenses (Discounted)	227.3	263.9
Supplemental health
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	9,263.0	9,098.7
Expected future gross premiums (Discounted)	5,347.5	5,687.4
Expected future benefits and expenses (Undiscounted)	10,994.2	10,781.4
Expected future benefits and expenses (Discounted)	5,559.8	6,012.0
Medicare supplement
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	8,725.8	6,930.0
Expected future gross premiums (Discounted)	5,412.7	4,753.6
Expected future benefits and expenses (Undiscounted)	7,217.8	5,565.5
Expected future benefits and expenses (Discounted)	4,418.7	3,808.0
Long-term care
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	3,842.8	3,648.8
Expected future gross premiums (Discounted)	2,496.1	2,564.4
Expected future benefits and expenses (Undiscounted)	8,276.5	8,100.0
Expected future benefits and expenses (Discounted)	4,039.3	4,431.5
Traditional life
Liability for Future Policy Benefit, Activity [Line Items]
Expected future gross premiums (Undiscounted)	5,822.1	5,804.4
Expected future gross premiums (Discounted)	3,987.1	4,231.0
Expected future benefits and expenses (Undiscounted)	7,622.1	7,680.7
Expected future benefits and expenses (Discounted)	$ 4,318.3	$ 4,725.6

BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2026

Segment Reporting [Abstract]

Schedule of Operating Information by Segment

Operating information by segment is as follows (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Revenues:
Annuity:
Insurance policy income	$	9.7	$	10.7	$	28.6	$	28.9
Net investment income	168.0		157.7		492.9		461.0
Total annuity revenues	177.7		168.4		521.5		489.9
Health:
Insurance policy income	444.0		416.0		1,312.4		1,240.5
Net investment income	76.1		75.4		226.4		226.4
Total health revenues	520.1		491.4		1,538.8		1,466.9
Life:
Insurance policy income	234.5		231.7		701.3		691.0
Net investment income	38.5		37.8		114.9		113.2
Total life revenues	273.0		269.5		816.2		804.2
Change in market values of the underlying options supporting fixed indexed products	1.1		98.2		98.4		107.5
Investment income not allocated to product lines	158.9		126.0		428.9		368.0
Fee revenue and other income:
Fee revenue	14.4		33.0		75.7		113.9
Amounts netted in expenses not allocated to product lines	0.7		0.6		2.5		2.8
Total segment revenues	$	1,145.9	$	1,187.1	$	3,482.0	$	3,353.2

(continued on next page)


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Expenses:
Annuity:
Insurance policy benefits	$	(19.8)	$	(6.2)	$	0.8	$	14.1
Interest credited	79.5		75.4		227.0		217.1
Amortization and non-deferred commissions	30.1		26.3		86.7		76.5
Total annuity expenses	89.8		95.5		314.5		307.7
Health:
Insurance policy benefits	327.5		293.3		981.0		926.9
Amortization and non-deferred commissions	43.5		41.1		128.9		122.8
Total health expenses	371.0		334.4		1,109.9		1,049.7
Life:
Insurance policy benefits	116.5		142.6		399.2		425.2
Interest credited	14.0		13.2		41.9		40.0
Amortization and non-deferred commissions	30.9		28.3		90.7		81.9
Advertising expense	15.6		14.8		51.4		54.7
Total life expenses	177.0		198.9		583.2		601.8
Allocated expenses	161.0		151.0		473.8		461.6
Expenses not allocated to product lines	19.5		22.9		64.0		70.7
Market value changes of options credited to fixed indexed annuity and life policyholders	1.1		98.2		98.4		107.5
Amounts netted in investment income not allocated to product lines:
Interest expense	54.3		50.8		152.6		158.3
Interest credited	39.5		28.2		111.5		82.2
Impact of annual option forfeitures related to fixed indexed annuity surrenders	(4.9)		(3.8)		(14.5)		(8.8)
Amortization	1.1		0.9		3.4		2.5
Other expenses	0.8		10.4		16.7		22.5
Expenses netted in fee revenue:
Commissions and other operating expenses	15.5		36.9		67.4		117.8
Total segment expenses	925.7		1,024.3		2,980.9		2,973.5
Pre-tax measure of profitability:
Annuity margin	87.9		72.9		207.0		182.2
Health margin	149.1		157.0		428.9		417.2
Life margin	96.0		70.6		233.0		202.4
Total insurance product margin	333.0		300.5		868.9		801.8
Allocated expenses	(161.0)		(151.0)		(473.8)		(461.6)
Income from insurance products	172.0		149.5		395.1		340.2
Fee income margin	(1.1)		(3.9)		8.3		(3.9)
Investment income not allocated to product lines	68.1		39.5		159.2		111.3
Expenses not allocated to product lines	(18.8)		(22.3)		(61.5)		(67.9)
Operating earnings before taxes	220.2		162.8		501.1		379.7
Income tax expense on operating income	41.1		35.6		101.2		83.9
Net operating income	$	179.1	$	127.2	$	399.9	$	295.8

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 is as follows (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Total segment revenues	$	1,145.9	$	1,187.1	$	3,482.0	$	3,353.2
Total investment losses	(64.7)		(3.0)		(102.1)		(28.2)
Revenues related to earnings attributable to VIEs	4.8		4.6		12.4		19.3
Fee revenue related to divested business	—		—		8.5		—
Consolidated revenues	1,086.0		1,188.7		3,400.8		3,344.3

Total segment expenses	925.7		1,024.3		2,980.9		2,973.5
Changes in fair value of embedded derivative liabilities and market risk benefits	(69.7)		18.1		(61.9)		62.5
Expenses attributable to VIEs	4.0		6.1		12.8		20.6
Fair value changes related to agent deferred compensation plan	(10.0)		—		(10.0)		—
Expenses related to TechMod initiative	10.1		7.2		33.5		10.4
Goodwill and other asset impairment	—		96.7		—		96.7
Expenses related to divested business	—		—		11.5		—
Other expenses	(0.5)		0.1		(0.5)		(1.4)
Consolidated expenses	859.6		1,152.5		2,966.3		3,162.3
Income before tax	226.4		36.2		434.5		182.0

Income tax expense	65.3		13.1		109.8		45.6

Net income	$	161.1	$	23.1	$	324.7	$	136.4

Schedule of Balance Sheet Information, by Segment

Segment balance sheet information is as follows (dollars in millions):


	September 30,		December 31,
	2026		2025
Assets:
Annuity	$	13,946.5	$	13,692.5
Health	8,429.5		9,367.1
Life	4,044.6		4,331.3
Investments not allocated to product lines	12,386.9		10,879.8
Assets of our non-life companies included in the fee income segment	95.5		161.0
Assets of our other non-life companies	403.7		358.9
Total assets	$	39,306.7	$	38,790.6
Liabilities:
Annuity	$	14,983.8	$	14,445.0
Health	8,917.2		9,573.7
Life	4,306.8		4,448.9
Liabilities associated with investments not allocated to product lines (a)	8,503.1		7,425.3
Liabilities of our non-life companies included in the fee income segment	16.8		50.5
Liabilities of our other non-life companies	255.3		209.0
Total liabilities	$	36,983.0	$	36,152.4

________________

(a) Includes investment borrowings, policyholder account balances related to funding agreements, borrowings related to VIEs and notes payable - direct corporate obligations.

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-Topic 280
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

INCOME TAXES - SCHEDULE OF COMPONENTS OF TAX EXPENSE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Income Tax Disclosure [Abstract]
Current tax expense	$ 8.7	$ 16.0	$ 22.8	$ 19.5
Deferred tax expense	34.5	12.2	64.9	41.2
Total income tax expense calculated based on estimated annual effective tax rate	43.2	28.2	87.7	60.7
Change in valuation allowance for deferred tax assets	22.1	0.0	22.1	0.0
Goodwill and other asset impairment	0.0	(15.1)	0.0	(15.1)
Total income tax expense calculated based on estimated annual effective tax rate	$ 65.3	$ 13.1	$ 109.8	$ 45.6

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

INVESTMENTS - SCHEDULE OF CHANGES IN THE ALLOWANCE FOR CURRENT EXPECTED CREDIT LOSSES RELATED TO MORTGAGE LOANS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	$ 17.0	$ 21.1	$ 20.9	$ 13.6
Increase (decrease) in provision for expected credit losses	0.3	(0.1)	(3.6)	7.4
Allowance at the end of the period	$ 17.3	$ 21.0	$ 17.3	$ 21.0

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

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+ Details

BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES	BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES 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 and financial services products. The terms "CNO Financial Group, Inc.", "CNO", the "Company", "we", "us", and "our" as used in these financial statements refer to CNO and its subsidiaries. Such terms, when used to describe insurance business and products, refer to the insurance business and products of CNO's insurance subsidiaries. We focus on serving middle-income pre-retiree and retired Americans, which we believe are attractive, underserved, high growth markets. We sell our products through exclusive agents, independent producers (some of whom sell one or more of our product lines exclusively) and direct marketing. 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, 2025 consolidated balance sheet data was derived from the audited consolidated financial statements included in our 2025 Annual Report on Form 10-K. Accordingly, these interim consolidated financial statements should be read together with the consolidated financial statements included in our 2025 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, guaranty fund assessment accruals, and fee revenue. 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. Goodwill and Intangible Assets In February 2021, we acquired DirectPath, LLC (now known as Optavise, LLC ("Optavise") subsequent to its name change in April 2022). In April 2019, we acquired Web Benefits Design Corporation, which was subsequently merged into Optavise during 2023. These acquisitions formed our Worksite fee services business, providing personalized benefits education, advocacy and transparency, and communications services that help employers reduce healthcare costs and assist employees with making informed benefits decisions. We exited the fee services business as of June 30, 2026. Optavise goodwill and other intangible assets arising from the acquisitions were reflected in our Fee income segment. The Company concluded that goodwill of $69.5 million and other assets, primarily intangible assets, of $27.2 million were fully impaired as of September 30, 2025. We recognized an additional impairment charge of $5.2 million related to other long-lived assets as a result of exiting the fee services side of the Worksite business during the fourth quarter of 2025. Goodwill and intangible assets were included within other assets on the consolidated balance sheet. Recently Adopted Accounting Standards In July 2025, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets ("ASU 2025-05"). This update provides a practical expedient for entities when estimating expected credit losses to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for annual periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted. ASU 2025-05 should be applied prospectively. We have adopted this standard for the annual period ending December 31, 2026 and for interim reporting periods within this annual period (i.e., for the quarter period ending March 31, 2026). This standard was adopted prospectively and did not have an impact on our financial position or results of operations. We adopted Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09") retrospectively effective January 1, 2025. 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). The adoption of ASU 2023-09 modified our annual disclosures but did not have an impact on our financial position or results of operations. Recently Issued Accounting Standards In November 2025, the FASB issued Accounting Standards Update 2025-08, Financial Instruments – Credit Losses (Topic 326): Purchased Loans ("ASU 2025-08"). This update establishes a new category of acquired loans (purchased seasoned loans) subject to the gross-up approach. ASU 2025-08 is effective for annual periods beginning after December 15, 2026 and interim reporting periods within those annual reporting periods. Early adoption is permitted. ASU 2025-08 should be applied prospectively. We are currently evaluating the effect of ASU 2025-08 on our consolidated financial statements and related disclosures. In September 2025, the FASB issued Accounting Standards Update 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"). This update removes all references to prescriptive and sequential software development stages, and adds that entities are required to start capitalizing software costs when both of the following occur: 1) management has authorized and committed to funding the software project, and 2) it is probable that the project will be completed and the software will be used to perform the function intended. The update also removes Subtopic 350-50, Website Development Costs, and incorporates that guidance within Subtopic 350-40. ASU 2025-06 is effective for annual periods beginning after December 15, 2027 and interim reporting periods within those annual reporting periods. Early adoption is permitted. Entities will have the option to apply the updates prospectively, under a modified transition approach that is based on the status of the project and whether software costs were capitalized before the date of adoption, or retrospectively. We are currently evaluating the effect of ASU 2025-06 on our consolidated financial statements and related disclosures. In November 2024, the FASB issued Accounting Standards Update 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disclosure of additional information about specific expense categories in the notes to the financial statements. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. ASU 2024-03 may be applied retrospectively or prospectively. The adoption of ASU 2024-03 will modify our disclosures but will not have an impact on our financial position or results of operations. We do not expect the impact to our disclosures to be material.

CONSOLIDATED STATEMENT OF CASH FLOWS

9 Months Ended

Sep. 30, 2026

Supplemental Cash Flow Elements [Abstract]

CONSOLIDATED STATEMENT OF CASH FLOWS

The following reconciles net income to net cash from operating activities (dollars in millions):


	Nine months ended
	September 30,
	2026		2025
Net income	$	324.7	$	136.4
Adjustments to reconcile net income to net cash from operating activities:
Amortization and depreciation	252.3		236.7
Income taxes	73.5		36.1
Insurance liabilities	357.1		461.4
Accrual, amortization and fair value changes included in investment income	(183.5)		(174.5)
Deferral of policy acquisition costs and sales inducements	(387.0)		(377.8)
Net investment losses	102.1		28.2

Gain on extinguishment of borrowings related to variable interest entities	—		(1.5)
Goodwill and other asset impairment	—		96.7
Other, net (a)	8.2		38.3
Net cash from operating activities	$	547.4	$	480.0

________________

(a) Primarily relates to changes in other assets and liabilities related to the timing of payments and receipts.

Other non-cash items not reflected in the investing and financing activities sections of the consolidated statement of cash flows (dollars in millions):


	Nine months ended
	September 30,
	2026		2025
Stock options, restricted stock, performance units, and Employee Stock Purchase Program	$	25.9	$	20.4

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS (Tables)

9 Months Ended

Sep. 30, 2026

Deferred Charges, Insurers [Abstract]

Schedule of Deferred Policy Acquisition Costs

Changes in deferred acquisition costs were as follows (dollars in millions):


	Nine months ended
	September 30, 2026
	Fixed indexed annuities		Fixed interest annuities		Supplemental health		Medicare supplement		Long-term care		Interest-sensitive life		Traditional life		Funding agreements		Total
Beginning of period	$	497.4	$	41.8	$	473.5	$	162.9	$	165.3	$	277.5	$	592.2	$	10.1	$	2,220.7
Capitalizations	87.6		7.4		56.5		30.6		26.4		32.7		99.4		2.3		342.9
Amortization expense	(52.6)		(5.4)		(30.6)		(18.9)		(12.7)		(13.6)		(57.0)		(3.4)		(194.2)
End of period	$	532.4	$	43.8	$	499.4	$	174.6	$	179.0	$	296.6	$	634.6	$	9.0	$	2,369.4


	Nine months ended
	September 30, 2025
	Fixed indexed annuities		Fixed interest annuities		Supplemental health		Medicare supplement		Long-term care		Interest-sensitive life		Traditional life		Funding agreements		Total
Beginning of period	$	450.0	$	35.9	$	438.1	$	157.4	$	148.6	$	256.0	$	529.5	$	9.9	$	2,025.4
Capitalizations	81.7		9.1		53.7		21.7		22.6		28.1		111.4		1.8		330.1
Amortization expense	(47.8)		(4.8)		(27.9)		(18.6)		(11.7)		(12.5)		(51.1)		(2.4)		(176.8)
End of period	$	483.9	$	40.2	$	463.9	$	160.5	$	159.5	$	271.6	$	589.8	$	9.3	$	2,178.7

Schedule of Present Value of Future Insurance Profits

Changes in the present value of future profits were as follows (dollars in millions):


	Nine months ended
	September 30, 2026
	Supplemental health		Medicare supplement		Long-term care		Traditional life		Fixed indexed annuities		Fixed interest annuities		Total
Beginning of period	$	117.4	$	12.0	$	3.7	$	9.9	$	0.4	$	0.2	$	143.6

Amortization expense	(8.2)		(2.3)		(0.4)		(1.0)		—		—		(11.9)
End of period	$	109.2	$	9.7	$	3.3	$	8.9	$	0.4	$	0.2	$	131.7


	Nine months ended
	September 30, 2025
	Supplemental health		Medicare supplement		Long-term care		Traditional life		Fixed indexed annuities		Fixed interest annuities		Total
Beginning of period	$	128.8	$	15.7	$	4.4	$	11.3	$	0.5	$	0.3	$	161.0

Amortization expense	(8.7)		(2.8)		(0.5)		(1.1)		—		(0.1)		(13.2)
End of period	$	120.1	$	12.9	$	3.9	$	10.2	$	0.5	$	0.2	$	147.8

Schedule of Deferred Sale Inducement Cost

Changes in sales inducements were as follows (dollars in millions):


	Nine months ended
	September 30, 2026
	Fixed indexed annuities		Fixed interest annuities		Total
Beginning of period	$	170.1	$	6.5	$	176.6
Capitalizations	42.7		1.4		44.1
Amortization expense	(18.9)		(0.9)		(19.8)
End of period	$	193.9	$	7.0	$	200.9


	Nine months ended
	September 30, 2025
	Fixed indexed annuities		Fixed interest annuities		Total
Beginning of period	$	128.1	$	5.1	$	133.2
Capitalizations	45.8		1.9		47.7
Amortization expense	(15.1)		(0.8)		(15.9)
End of period	$	158.8	$	6.2	$	165.0

FAIR VALUE MEASUREMENTS - SCHEDULE OF CHANGES IN VALUE OF EMBEDDED DERIVATIVES (Details) - Fair Value, Inputs, Level 3 - Fixed Index Annuity Products - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Liabilities:
Balance at beginning of the period	$ 1,676.7	$ 1,502.4	$ 1,600.6	$ 1,471.6
Premiums less benefits	4.5	(7.4)	(8.5)	(23.4)
Change in fair value, net	(102.5)	103.4	(13.4)	150.2
Balance at end of the period	$ 1,578.7	$ 1,598.4	$ 1,578.7	$ 1,598.4

INVESTMENTS - SCHEDULE OF INVESTMENTS BY CONTRACTUAL MATURITY (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Amortized cost
Due in one year or less	$ 203.2
Due after one year through five years	2,468.3
Due after five years through ten years	3,600.4
Due after ten years	12,854.4
Subtotal	19,126.3
Structured securities	7,835.4
Amortized cost	26,961.7
Estimated fair value
Due in one year or less	202.7
Due after one year through five years	2,413.3
Due after five years through ten years	3,412.0
Due after ten years	10,130.6
Subtotal	16,158.6
Structured securities	7,519.0
Estimated fair value	$ 23,677.6	$ 23,886.8

BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2026
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, guaranty fund assessment accruals, and fee revenue. 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.
Goodwill and Intangible Assets	Goodwill and Intangible Assets In February 2021, we acquired DirectPath, LLC (now known as Optavise, LLC ("Optavise") subsequent to its name change in April 2022). In April 2019, we acquired Web Benefits Design Corporation, which was subsequently merged into Optavise during 2023. These acquisitions formed our Worksite fee services business, providing personalized benefits education, advocacy and transparency, and communications services that help employers reduce healthcare costs and assist employees with making informed benefits decisions. We exited the fee services business as of June 30, 2026. Optavise goodwill and other intangible assets arising from the acquisitions were reflected in our Fee income segment.
Recently Adopted/Issued Accounting Standards	Recently Adopted Accounting Standards In July 2025, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets ("ASU 2025-05"). This update provides a practical expedient for entities when estimating expected credit losses to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for annual periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted. ASU 2025-05 should be applied prospectively. We have adopted this standard for the annual period ending December 31, 2026 and for interim reporting periods within this annual period (i.e., for the quarter period ending March 31, 2026). This standard was adopted prospectively and did not have an impact on our financial position or results of operations. We adopted Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09") retrospectively effective January 1, 2025. 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). The adoption of ASU 2023-09 modified our annual disclosures but did not have an impact on our financial position or results of operations. Recently Issued Accounting Standards In November 2025, the FASB issued Accounting Standards Update 2025-08, Financial Instruments – Credit Losses (Topic 326): Purchased Loans ("ASU 2025-08"). This update establishes a new category of acquired loans (purchased seasoned loans) subject to the gross-up approach. ASU 2025-08 is effective for annual periods beginning after December 15, 2026 and interim reporting periods within those annual reporting periods. Early adoption is permitted. ASU 2025-08 should be applied prospectively. We are currently evaluating the effect of ASU 2025-08 on our consolidated financial statements and related disclosures. In September 2025, the FASB issued Accounting Standards Update 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"). This update removes all references to prescriptive and sequential software development stages, and adds that entities are required to start capitalizing software costs when both of the following occur: 1) management has authorized and committed to funding the software project, and 2) it is probable that the project will be completed and the software will be used to perform the function intended. The update also removes Subtopic 350-50, Website Development Costs, and incorporates that guidance within Subtopic 350-40. ASU 2025-06 is effective for annual periods beginning after December 15, 2027 and interim reporting periods within those annual reporting periods. Early adoption is permitted. Entities will have the option to apply the updates prospectively, under a modified transition approach that is based on the status of the project and whether software costs were capitalized before the date of adoption, or retrospectively. We are currently evaluating the effect of ASU 2025-06 on our consolidated financial statements and related disclosures. In November 2024, the FASB issued Accounting Standards Update 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disclosure of additional information about specific expense categories in the notes to the financial statements. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. ASU 2024-03 may be applied retrospectively or prospectively. The adoption of ASU 2024-03 will modify our disclosures but will not have an impact on our financial position or results of operations. We do not expect the impact to our disclosures to be material.
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 any allowance for credit losses and income taxes, 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). When the fair value option is elected, unrealized gains and losses are recognized in other investment gains (losses) in the consolidated statement of operations. 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 in the consolidated statement of operations. The change in fair value of securities with embedded derivatives is recognized in other investment gains (losses) in the consolidated statement of operations. When we sell a security (other than trading securities), we report the difference between the sale proceeds and amortized cost (determined based on specific identification) as a realized investment gain or loss. 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 over-collateralization, 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 uncollectible, 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.
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 variable interest entities ("VIEs"), derivatives, separate account assets and embedded derivatives. We carry our company-owned life insurance ("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, policy loans and other less liquid securities. Financial liabilities in this category include our insurance liabilities for interest-sensitive products, which includes embedded derivatives and market risk benefit ("MRB") related to our fixed indexed annuity products, 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 independent pricing services. Inputs generally consist of trades of identical or similar securities, quoted prices in active markets, 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 observable market 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 controls 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. 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 98 percent of our Level 3 fixed maturity securities and trading securities were valued using unadjusted broker quotes or broker-provided valuation inputs. The remaining Level 3 fixed maturity investments do not have readily determinable market prices and/or observable inputs. For these securities, we use internally developed valuations. Key assumptions used to determine fair value for these securities may include risk premiums, projected performance of underlying collateral and other factors involving significant assumptions which may not be reflective of an active market. For certain investments, we use a matrix or model process to develop a security price where future cash flow expectations are discounted at an estimated market rate. The pricing matrix incorporates term interest rates as well as a spread level based on the issuer's credit rating, other factors relating to the issuer, and the security's maturity. In some instances issuer-specific spread adjustments, which can be positive or negative, are made based upon internal analysis of security specifics such as liquidity, deal size, and time to maturity.
Earnings Per Share	Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Restricted shares (including our performance units) are not included in basic earnings per share until vested. Diluted earnings per share reflect the potential dilution that could occur if outstanding stock options were exercised and restricted stock was vested. The dilution from options and restricted shares is calculated using the treasury stock method. Under this method, we assume the proceeds from the exercise of the options (or the unrecognized compensation expense with respect to restricted stock and performance units) will be used to purchase shares of our common stock at the average market price during the period, reducing the dilutive effect of the exercise of the options (or the vesting of the restricted stock and performance units).
Business Segments	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; (ii) interest credited to policyholders; (iii) amortization of deferred acquisition costs and present value of future profits; (iv) non-deferred commissions; and (v) advertising expense. Net investment income is allocated to the product lines using the book yield of investments backing the block of business, which is applied to the average insurance liabilities, net of insurance intangibles, for the block in each period. Net insurance liabilities for the purpose of allocating investment income to product lines are equal to: (i) policyholder account values for interest sensitive 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 product 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 provides an additional 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 insurance benefits, including supplemental health and life insurance products in the workplace for businesses, associations, and other membership groups, interacting with customers at their place of employment and virtually. 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 Bankers Life and Casualty Company ("Bankers Life") funding agreement backed notes ("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 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 (primarily Medicare Advantage), services provided to employers through our Worksite Division and the operations of our broker-dealer and registered investment advisor. In November 2025, we announced our intention to exit the fee services business within our Worksite Division to sharpen our focus on the core insurance business. As a result, beginning in the fourth quarter of 2025, the net results of this business are no longer presented within the fee income segment, but are presented within net loss related to divested business as a reconciling item to net income. The exit of the fee services business was substantially complete as of June 30, 2026. Our CODM allocates resources and assesses the performance of each operating segment based on the respective product line insurance margin, investment income not allocated, and fee income metrics described above. 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, costs related to our project to modernize certain elements of our technology ("TechMod") that are incremental to our normal spend and will not recur following implementation, goodwill and other asset impairment expenses and other non-operating items including 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, costs related to our TechMod initiative incremental to our normal spend that will not recur following implementation 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.

- Definition

Disclosure of accounting policy for investment in financial asset.

+ References + Details

- Definition

Disclosure of accounting policy for segment reporting.

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+ Details

INVESTMENTS

9 Months Ended

Sep. 30, 2026

Investments, Debt and Equity Securities [Abstract]

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 any allowance for credit losses and income taxes, 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). When the fair value option is elected, unrealized gains and losses are recognized in other investment gains (losses) in the consolidated statement of operations.

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 in the consolidated statement of operations. The change in fair value of securities with embedded derivatives is recognized in other investment gains (losses) in the consolidated statement of operations.

When we sell a security (other than trading securities), we report the difference between the sale proceeds and amortized cost (determined based on specific identification) as a realized investment gain or loss.

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 over-collateralization, 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 uncollectible, 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 September 30, 2026, 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	$	15,557.6	$	9.7	$	(2,274.8)	$	(50.1)	$	13,242.4

United States Treasury securities and obligations of United States government corporations and agencies	214.3		—		(50.0)		—		164.3
States and political subdivisions	3,209.8		2.3		(580.4)		(3.1)		2,628.6
Foreign governments	144.6		—		(20.2)		(1.1)		123.3
Asset-backed securities	2,097.5		1.1		(85.9)		(0.1)		2,012.6
Agency residential mortgage-backed securities	639.1		0.8		(14.4)		—		625.5
Non-agency residential mortgage-backed securities	1,327.4		19.2		(107.0)		—		1,239.6
Collateralized loan obligations	1,609.9		2.0		(2.6)		—		1,609.3
Commercial mortgage-backed securities	2,161.5		0.9		(127.9)		(2.5)		2,032.0
Total fixed maturities, available for sale	$	26,961.7	$	36.0	$	(3,263.2)	$	(56.9)	$	23,677.6

At December 31, 2025, 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	$	14,568.8	$	137.1	$	(1,413.2)	$	(30.2)	$	13,262.5

United States Treasury securities and obligations of United States government corporations and agencies	207.2		0.1		(30.2)		—		177.1
States and political subdivisions	3,311.4		25.1		(378.9)		(2.9)		2,954.7
Foreign governments	130.9		0.9		(10.7)		(0.6)		120.5
Asset-backed securities	1,780.8		14.0		(47.4)		(0.1)		1,747.3
Agency residential mortgage-backed securities	838.3		11.4		(0.2)		—		849.5
Non-agency residential mortgage-backed securities	1,639.1		37.5		(90.9)		—		1,585.7
Collateralized loan obligations	1,142.4		2.8		(2.7)		—		1,142.5
Commercial mortgage-backed securities	2,157.5		6.4		(114.7)		(2.2)		2,047.0
Total fixed maturities, available for sale	$	25,776.4	$	235.3	$	(2,088.9)	$	(36.0)	$	23,886.8

The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale at September 30, 2026 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 cost		Estimated fair value
	(Dollars in millions)
Due in one year or less	$	203.2	$	202.7
Due after one year through five years	2,468.3		2,413.3
Due after five years through ten years	3,600.4		3,412.0
Due after ten years	12,854.4		10,130.6
Subtotal	19,126.3		16,158.6
Structured securities	7,835.4		7,519.0
Total fixed maturities, available for sale	$	26,961.7	$	23,677.6

Gross Unrealized Investment Losses

Our investment strategy is to manage, over a sustained period and within acceptable parameters of quality and risk, capital efficiency 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. We may also selectively realize gains when appropriate to preserve the tax benefit of capital loss carryforwards that might otherwise expire. These strategic sales do not alter our overall intent and ability to hold securities in an unrealized loss position until recovery or maturity.

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 September 30, 2026 (dollars in millions):


	Less than 12 months				12 months or greater				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Corporate securities	$	2,807.4	$	(128.0)	$	1,895.6	$	(630.5)	$	4,703.0	$	(758.5)
United States Treasury securities and obligations of United States government corporations and agencies	30.4		(0.7)		133.9		(49.3)		164.3		(50.0)
States and political subdivisions	910.9		(52.1)		620.6		(200.4)		1,531.5		(252.5)
Foreign governments	24.5		(1.0)		6.2		(2.5)		30.7		(3.5)
Asset-backed securities	1,218.4		(39.4)		359.5		(45.5)		1,577.9		(84.9)
Agency residential mortgage-backed securities	524.4		(13.9)		6.2		(0.6)		530.6		(14.5)
Non-agency residential mortgage-backed securities	567.0		(13.7)		435.1		(93.3)		1,002.1		(107.0)
Collateralized loan obligations	555.8		(1.2)		59.5		(1.4)		615.3		(2.6)
Commercial mortgage-backed securities	751.6		(8.7)		836.4		(119.2)		1,588.0		(127.9)
Total fixed maturities, available for sale	$	7,390.4	$	(258.7)	$	4,353.0	$	(1,142.7)	$	11,743.4	$	(1,401.4)


	Less than 12 months				12 months or greater				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Corporate securities	$	734.9	$	(44.3)	$	2,645.8	$	(426.7)	$	3,380.7	$	(471.0)
United States Treasury securities and obligations of United States government corporations and agencies	0.4		—		153.9		(30.2)		154.3		(30.2)
States and political subdivisions	275.6		(8.5)		806.0		(127.6)		1,081.6		(136.1)
Foreign governments	3.1		—		24.3		(2.7)		27.4		(2.7)
Asset-backed securities	187.8		(1.8)		487.7		(44.9)		675.5		(46.7)
Agency residential mortgage-backed securities	59.8		—		13.8		(0.2)		73.6		(0.2)
Non-agency residential mortgage-backed securities	131.4		(0.9)		703.3		(90.0)		834.7		(90.9)
Collateralized loan obligations	227.3		(0.9)		62.9		(1.8)		290.2		(2.7)
Commercial mortgage-backed securities	243.7		(2.1)		1,067.2		(112.6)		1,310.9		(114.7)
Total fixed maturities, available for sale	$	1,864.0	$	(58.5)	$	5,964.9	$	(836.7)	$	7,828.9	$	(895.2)

Based on management's current assessment of investments with unrealized losses at September 30, 2026, the Company believes the issuers of the securities will continue to meet their obligations. 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. If a loss is recognized from a sale subsequent to a balance sheet date due to 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 September 30, 2026 (dollars in millions):


	Corporate securities		Other		Total
Allowance at June 30, 2026	$	35.3	$	6.2	$	41.5
Additions for securities for which credit losses were not previously recorded	8.6		0.2		8.8
Additions for securities where an allowance was previously recorded	7.3		0.5		7.8
Reductions for securities disposed during the period	(1.1)		(0.1)		(1.2)
Allowance at September 30, 2026	$	50.1	$	6.8	$	56.9

The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the nine months ended September 30, 2026 (dollars in millions):


	Corporate securities		Other		Total
Allowance at December 31, 2025	$	30.2	$	5.8	$	36.0
Additions for securities for which credit losses were not previously recorded	21.7		0.4		22.1
Additions for securities where an allowance was previously recorded	5.9		0.7		6.6
Reductions for securities disposed during the period	(7.7)		(0.1)		(7.8)
Allowance at September 30, 2026	$	50.1	$	6.8	$	56.9

The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the three months ended September 30, 2025 (dollars in millions):


	Corporate securities		Other		Total
Allowance at June 30, 2025	$	33.1	$	6.0	$	39.1
Additions for securities for which credit losses were not previously recorded	0.4		—		0.4
Reductions for securities where an allowance was previously recorded	(4.6)		(0.5)		(5.1)
Reductions for securities disposed during the period	(1.4)		—		(1.4)
Allowance at September 30, 2025	$	27.5	$	5.5	$	33.0

The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the nine months ended September 30, 2025 (dollars in millions):


	Corporate securities		Other		Total
Allowance at December 31, 2024	$	31.1	$	6.0	$	37.1
Additions for securities for which credit losses were not previously recorded	3.5		—		3.5
Reductions for securities where an allowance was previously recorded	(3.7)		(0.5)		(4.2)
Reductions for securities disposed during the period	(3.4)		—		(3.4)
Allowance at September 30, 2025	$	27.5	$	5.5	$	33.0

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 September 30, 2026, we held commercial mortgage loan investments with an amortized cost and fair value of $1,883.8 million and $1,714.7 million, respectively. At September 30, 2026, there were no commercial mortgage loans that were non-current or in the process of 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 September 30, 2026 (dollars in millions):


															Estimated fair value
Loan-to-value ratio (a)	2026		2025		2024		2023		2022		Prior		Total amortized cost		Commercial mortgage loans		Collateral
Less than 60%	$	261.3	$	248.1	$	151.9	$	169.9	$	138.6	$	458.1	$	1,427.9	$	1,299.0	$	4,635.3
60% to less than 70%	41.3		146.0		16.3		47.6		36.2		21.4		308.8		287.9		481.1
70% to less than 80%	—		9.9		15.0		—		60.7		22.1		107.7		95.1		143.3
80% to less than 90%	—		—		—		—		29.9		—		29.9		25.5		37.1
90% to less than 100%	—		—		—		—		—		9.5		9.5		7.2		9.9

Total	$	302.6	$	404.0	$	183.2	$	217.5	$	265.4	$	511.1	$	1,883.8	$	1,714.7	$	5,306.7

_________________

(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.

At September 30, 2026, we held residential mortgage loan investments with an amortized cost and fair value of $1,570.6 million and $1,575.8 million, respectively. We consider current or non-current loan status as our primary credit quality indicator in conjunction with other quantitative and qualitative factors. We define non-current loans as those that are 90 or more days past-due and/or in nonaccrual status. At September 30, 2026, there were 34 residential mortgage loans that were non-current with an amortized cost of $25.0 million (of which, nine loans with an amortized cost of $4.5 million were in foreclosure).

The following table summarizes changes in the allowance for credit losses related to mortgage loans for the periods indicated (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Allowance at the beginning of the period	$	17.0	$	21.1	$	20.9	$	13.6
Increase (decrease) in provision for expected credit losses	0.3		(0.1)		(3.6)		7.4
Allowance at the end of the period	$	17.3	$	21.0	$	17.3	$	21.0

Total Investment Gains (Losses)

The following table sets forth the total investment gains (losses) for the periods indicated (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Realized investment gains (losses):
Gross realized gains on sales of fixed maturities, available for sale	$	5.3	$	1.9	$	80.0	$	4.8
Gross realized losses on sales of fixed maturities, available for sale	(34.4)		(18.1)		(123.6)		(42.7)
Equity securities, net	0.1		0.7		(0.2)		0.2
Other, net	(3.6)		2.6		(5.2)		(0.3)
Total realized investment losses	(32.6)		(12.9)		(49.0)		(38.0)
Change in allowance for credit losses and write-downs	(16.3)		8.0		(29.4)		(2.6)
Change in fair value of equity securities (a)	(5.4)		1.4		(9.3)		3.5
Other changes in fair value (b) (c)	(10.4)		0.5		(14.4)		8.9

Other investment gains (losses)	(32.1)		9.9		(53.1)		9.8
Total investment losses	$	(64.7)	$	(3.0)	$	(102.1)	$	(28.2)

_________________

(a) Changes in the estimated fair value of equity securities (that are still held as of the end of the respective periods) were $(5.2) million and $1.7 million for the three months ended September 30, 2026 and 2025, respectively, and $(9.3) million and $5.9 million for the nine months ended September 30, 2026 and 2025, respectively.

(b) Comprised of gains (losses) related to certain other invested assets and fixed maturity investments with embedded derivatives, including the change in fair value, of $(8.2) million and nil for the three months ended September 30, 2026 and 2025, respectively, and $(11.6) million and $7.1 million for the nine months ended September 30, 2026 and 2025, respectively. The increase (decrease) in fair value of embedded derivatives related to a modified coinsurance agreement was $(2.2) million and $0.5 million for the three months ended September 30, 2026 and 2025,

respectively, and $(2.8) million and $1.8 million for the nine months ended September 30, 2026 and 2025, respectively.

(c) Changes in the estimated fair value of fixed maturity investments with embedded derivatives that we have elected the fair value option (that are still held as of the end of the respective periods) were $(8.2) million and $3.0 million for the three months ended September 30, 2026 and 2025, respectively and $(11.4) million and $10.1 million for the nine months ended September 30, 2026 and 2025, respectively.

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.

During the three months ended September 30, 2026, the $34.4 million of gross realized losses on sales of $1,324.7 million of fixed maturity securities, available for sale, primarily related to various corporate securities.

During the nine months ended September 30, 2026, the $123.6 million of gross realized losses on sales of $4,118.1 million of fixed maturity securities, available for sale, primarily related to various corporate securities that were reinvested in higher-yielding securities, which were partially offset by capital gains.

During the three months ended September 30, 2025, the $18.1 million of gross realized losses on sales of $349.1 million of fixed maturity securities, available for sale, primarily related to various corporate securities.

During the nine months ended September 30, 2025, the $42.7 million of gross realized losses on sales of $874.2 million of fixed maturity securities, available for sale, primarily related to various corporate securities.

At September 30, 2026, the amortized cost and carrying value of fixed maturities that were non-income producing were $5.7 million and $3.2 million, respectively.

BUSINESS SEGMENTS - SCHEDULE OF SEGMENT REPORTING INFORMATION BY SEGMENT (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Revenues:
Insurance policy income	$ 688.2	$ 658.4	$ 2,042.3	$ 1,960.4
Total segment revenues	1,145.9	1,187.1	3,482.0	3,353.2
Expenses:
Insurance policy benefits	565.1	702.1	1,884.2	1,930.5
Interest expense	58.1	56.6	164.3	177.7
Other expenses	240.9	270.4	792.6	816.8
Total segment expenses	925.7	1,024.3	2,980.9	2,973.5
Operating earnings before taxes	220.2	162.8	501.1	379.7
Income tax expense on operating income	41.1	35.6	101.2	83.9
Net operating income	179.1	127.2	399.9	295.8
Insurance Product Lines
Expenses:
Allocated expenses	161.0	151.0	473.8	461.6
Total insurance product margin	333.0	300.5	868.9	801.8
Operating earnings before taxes	172.0	149.5	395.1	340.2
Investment income not allocated to product lines
Revenues:
Change in market values of the underlying options supporting fixed indexed products	1.1	98.2	98.4	107.5
Investment income not allocated to product lines	158.9	126.0	428.9	368.0
Expenses:
Interest credited	39.5	28.2	111.5	82.2
Market value changes of options credited to fixed indexed annuity and life policyholders	1.1	98.2	98.4	107.5
Interest expense	54.3	50.8	152.6	158.3
Impact of annual option forfeitures related to fixed indexed annuity surrenders	(4.9)	(3.8)	(14.5)	(8.8)
Amortization	1.1	0.9	3.4	2.5
Other expenses	0.8	10.4	16.7	22.5
Total insurance product margin	68.1	39.5	159.2	111.3
Fee revenue
Revenues:
Fee revenue	14.4	33.0	75.7	113.9
Expenses:
Commissions and other operating expenses	15.5	36.9	67.4	117.8
Total insurance product margin	(1.1)	(3.9)	8.3	(3.9)
Amounts netted in expenses not allocated to product lines
Revenues:
Amounts netted in expenses not allocated to product lines	0.7	0.6	2.5	2.8
Expenses:
Expenses not allocated to product lines	19.5	22.9	64.0	70.7
Total insurance product margin	(18.8)	(22.3)	(61.5)	(67.9)
Annuity: \| Insurance Product Lines
Revenues:
Insurance policy income	9.7	10.7	28.6	28.9
Net investment income	168.0	157.7	492.9	461.0
Total annuity revenues	177.7	168.4	521.5	489.9
Expenses:
Insurance policy benefits	(19.8)	(6.2)	0.8	14.1
Interest credited	79.5	75.4	227.0	217.1
Amortization and non-deferred commissions	30.1	26.3	86.7	76.5
Total expenses	89.8	95.5	314.5	307.7
Total insurance product margin	87.9	72.9	207.0	182.2
Health: \| Insurance Product Lines
Revenues:
Insurance policy income	444.0	416.0	1,312.4	1,240.5
Net investment income	76.1	75.4	226.4	226.4
Total annuity revenues	520.1	491.4	1,538.8	1,466.9
Expenses:
Insurance policy benefits	327.5	293.3	981.0	926.9
Amortization and non-deferred commissions	43.5	41.1	128.9	122.8
Total expenses	371.0	334.4	1,109.9	1,049.7
Total insurance product margin	149.1	157.0	428.9	417.2
Life: \| Insurance Product Lines
Revenues:
Insurance policy income	234.5	231.7	701.3	691.0
Net investment income	38.5	37.8	114.9	113.2
Total annuity revenues	273.0	269.5	816.2	804.2
Expenses:
Insurance policy benefits	116.5	142.6	399.2	425.2
Interest credited	14.0	13.2	41.9	40.0
Amortization and non-deferred commissions	30.9	28.3	90.7	81.9
Advertising expense	15.6	14.8	51.4	54.7
Total expenses	177.0	198.9	583.2	601.8
Total insurance product margin	96.0	70.6	233.0	202.4
Allocated expenses \| Insurance Product Lines
Expenses:
Total insurance product margin	$ (161.0)	$ (151.0)	$ (473.8)	$ (461.6)

INVESTMENT BORROWINGS - NARRATIVE (Details) $ in Millions	9 Months Ended
INVESTMENT BORROWINGS - NARRATIVE (Details) $ in Millions	Sep. 30, 2026 USD ($) subsidiary	Sep. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Debt Instrument [Line Items]
Number of insurance subsidiaries that are members of the FHLB \| subsidiary	3
Investment borrowings	$ 3,191.7		$ 2,441.7
Federal home loan bank stock	140.7
Interest expense on FHLB borrowings	89.5	$ 83.4
Federal Home Loan Bank Advances
Debt Instrument [Line Items]
Investment borrowings	3,191.7
Federal home loan bank advances, collateral pledged	$ 3,900.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a)(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a)(5))
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+ Details

EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2026

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation

A reconciliation of net income and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Net income for basic and diluted earnings per share	$	161.1	$	23.1	$	324.7	$	136.4
Shares:
Weighted average shares outstanding for basic earnings per share	92,195		96,603		93,156		98,639
Effect of dilutive securities on weighted average shares:
Amounts related to employee benefit plans	2,058		1,950		1,959		2,031
Weighted average shares outstanding for diluted earnings per share	94,253		98,553		95,115		100,670

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Revenues:
Insurance policy income	$ 688.2	$ 658.4	$ 2,042.3	$ 1,960.4
Net investment income:
General account assets	441.5	382.9	1,248.4	1,136.3
Policyholder and other special-purpose portfolios	6.1	116.8	126.3	158.6
Investment losses:
Realized investment losses	(32.6)	(12.9)	(49.0)	(38.0)
Other investment gains (losses)	(32.1)	9.9	(53.1)	9.8
Total investment losses	(64.7)	(3.0)	(102.1)	(28.2)
Fee revenue and other income	14.9	33.6	85.9	117.2
Total revenues	1,086.0	1,188.7	3,400.8	3,344.3
Benefits and expenses:
Insurance policy benefits	565.1	702.1	1,884.2	1,930.5
Liability for future policy benefits remeasurement gain	(52.5)	(30.8)	(74.3)	(55.8)
Change in fair value of market risk benefits	(28.8)	(12.4)	(26.4)	(8.0)
Interest expense	58.1	56.6	164.3	177.7
Amortization of deferred acquisition costs and present value of future profits	76.8	69.9	225.9	205.9
Goodwill and other asset impairment	0.0	96.7	0.0	96.7
Gain on extinguishment of borrowings related to variable interest entities	0.0	0.0	0.0	(1.5)
Other operating costs and expenses	240.9	270.4	792.6	816.8
Total benefits and expenses	859.6	1,152.5	2,966.3	3,162.3
Income before income taxes	226.4	36.2	434.5	182.0
Income tax expense	65.3	13.1	109.8	45.6
Net income	$ 161.1	$ 23.1	$ 324.7	$ 136.4
Basic:
Weighted average shares outstanding (in shares)	92,195	96,603	93,156	98,639
Net income (in dollars per share)	$ 1.75	$ 0.24	$ 3.49	$ 1.38
Diluted:
Weighted average shares outstanding (in shares)	94,253	98,553	95,115	100,670
Net income (in dollars per share)	$ 1.71	$ 0.24	$ 3.41	$ 1.36

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Investments:
Fixed maturities, available for sale, at fair value (net of allowance for credit losses: September 30, 2026 - $56.9 and December 31, 2025 - $36.0; amortized cost: September 30, 2026 - $26,961.7 and December 31, 2025 - $25,776.4)	$ 23,677.6	$ 23,886.8
Equity securities at fair value	328.0	389.2
Mortgage loans (net of allowance for credit losses: September 30, 2026 - $17.3 and December 31, 2025 - $20.9)	3,437.1	3,256.8
Policy loans	145.6	140.9
Trading securities	234.0	294.8
Investments held by variable interest entities (net of allowance for credit losses: September 30, 2026 - $1.5 and December 31, 2025 - $0.6; amortized cost: September 30, 2026 - $311.4 and December 31, 2025 - $294.1)	307.8	293.0
Other invested assets	1,912.0	1,737.0
Total investments	30,042.1	29,998.5
Cash and cash equivalents - unrestricted	1,409.4	956.1
Cash and cash equivalents held by variable interest entities	12.0	27.4
Accrued investment income	302.3	286.0
Present value of future profits	131.7	143.6
Deferred acquisition costs and sales inducements	2,570.3	2,397.3
Reinsurance receivables (net of allowance for credit losses: September 30, 2026 - $0.5 and December 31, 2025 - $1.0)	3,479.9	3,677.5
Income tax assets, net	759.8	713.3
Assets held in separate accounts	2.9	2.8
Other assets	596.3	588.1
Total assets	39,306.7	38,790.6
Liabilities for insurance products:
Policyholder account balances	19,819.3	18,912.6
Future policy benefits	10,988.3	11,898.0
Market risk benefit liability	21.9	48.1
Liability for life insurance policy claims	63.0	58.4
Unearned and advanced premiums	227.2	228.0
Liabilities related to separate accounts	2.9	2.8
Other liabilities	1,047.0	952.8
Investment borrowings	3,191.7	2,441.7
Borrowings related to variable interest entities	285.0	274.4
Notes payable – direct corporate obligations	1,336.7	1,335.6
Total liabilities	36,983.0	36,152.4
Commitments and Contingencies (Note 14)
Shareholders' equity:
Common stock ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: September 30, 2026 – 91,705,509; December 31, 2025 – 94,484,339)	0.9	0.9
Additional paid-in capital	1,178.3	1,336.3
Accumulated other comprehensive loss	(1,545.8)	(1,115.0)
Retained earnings	2,690.3	2,416.0
Total shareholders' equity	2,323.7	2,638.2
Total liabilities and shareholders' equity	$ 39,306.7	$ 38,790.6

SHAREHOLDERS' EQUITY - NARRATIVE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended	3 Months Ended				9 Months Ended
	May 31, 2026	Dec. 31, 2026	Sep. 30, 2026	Mar. 31, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired during period			$ 60.0		$ 60.0	$ 180.0	$ 259.9
Stock repurchase program, remaining repurchase authorized amount			240.4			240.4
Common stock dividends declared			$ 16.9		$ 16.6	$ 50.4	$ 50.0
Dividends (in dollars per share)	$ 0.18			$ 0.17		$ 0.53
Common stock
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired during period (in shares)			1,100		1,570	3,823	6,675
Employee benefit plans, net of shares used to pay tax withholdings (in shares)			109		92	1,045	897
Common stock \| Forecast
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired during period		$ 0.5

- Definition

Number of shares that have been repurchased and retired during the period.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- Definition

Equity impact of the value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital).

+ References

+ Details

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2026

Earnings Per Share [Abstract]

EARNINGS PER SHARE

A reconciliation of net income and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Net income for basic and diluted earnings per share	$	161.1	$	23.1	$	324.7	$	136.4
Shares:
Weighted average shares outstanding for basic earnings per share	92,195		96,603		93,156		98,639
Effect of dilutive securities on weighted average shares:
Amounts related to employee benefit plans	2,058		1,950		1,959		2,031
Weighted average shares outstanding for diluted earnings per share	94,253		98,553		95,115		100,670

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Restricted shares (including our performance units) are not included in basic earnings per

share until vested. Diluted earnings per share reflect the potential dilution that could occur if outstanding stock options were exercised and restricted stock was vested. The dilution from options and restricted shares is calculated using the treasury stock method. Under this method, we assume the proceeds from the exercise of the options (or the unrecognized compensation expense with respect to restricted stock and performance units) will be used to purchase shares of our common stock at the average market price during the period, reducing the dilutive effect of the exercise of the options (or the vesting of the restricted stock and performance units).

INVESTMENT BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2026

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

September 30, 2026

10.0

November 2026

Variable rate - 4.354%

75.0

January 2027

Variable rate - 4.109%

50.0

January 2027

Variable rate - 4.197%

50.0

January 2027

Variable rate - 4.360%

10.0

June 2027

Variable rate - 4.473%

12.5

September 2027

Variable rate - 4.406%

75.0

January 2028

Variable rate - 4.343%

134.5

January 2028

Variable rate - 4.333%

50.0

January 2028

Variable rate - 4.237%

50.0

January 2028

Variable rate - 4.252%

100.0

January 2028

Variable rate - 4.198%

100.0

February 2028

Variable rate - 4.284%

21.0

February 2028

Variable rate - 4.172%

22.0

February 2028

Variable rate - 4.255%

100.0

February 2028

Variable rate - 4.297%

27.0

July 2028

Variable rate - 4.428%

15.0

July 2028

Variable rate - 4.260%

35.0

August 2028

Variable rate - 4.270%

12.5

September 2028

Variable rate - 4.502%

42.2

May 2029

Variable rate - 4.503%

200.0

July 2029

Variable rate - 4.330%

100.0

August 2029

Variable rate - 4.233%

50.0

August 2029

Variable rate - 4.518%

75.0

August 2029

Variable rate - 4.403%

100.0

September 2029

Variable rate - 4.245%

65.5

September 2029

Variable rate - 4.378%

57.7

September 2029

Variable rate - 4.454%

50.0

April 2030

Variable rate - 4.408%

50.0

May 2030

Variable rate - 4.404%

100.0

May 2030

Variable rate - 4.395%

100.0

August 2030

Variable rate - 4.252%

50.0

August 2030

Variable rate - 4.324%

200.0

August 2030

Variable rate - 4.337%

100.0

August 2030

Variable rate - 4.283%

125.0

September 2030

Variable rate - 4.380%

50.0

January 2031

Variable rate - 4.269%

50.0

January 2031

Variable rate - 4.260%

100.0

January 2031

Variable rate- 4.378%

150.0

February 2031

Variable rate - 4.404%

100.0

February 2031

Variable rate - 4.450%

50.0

April 2031

Variable rate - 4.312%

50.0

April 2031

Variable rate - 4.302%

50.0

April 2031

Variable rate - 4.493%


100.0		April 2031	Variable rate - 4.461%
5.0		May 2031	Variable rate - 4.317%
21.8		May 2031	Variable rate - 4.300%
50.0		May 2031	Variable rate - 4.381%


$	3,191.7

LITIGATION AND OTHER LEGAL PROCEEDINGS	9 Months Ended
LITIGATION AND OTHER LEGAL PROCEEDINGS	Sep. 30, 2026
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 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") and other provisions 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). 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. A three-day jury trial on causation and damages as to the two class representatives commenced on June 16, 2025, and the jury returned a verdict in favor of the class representatives on June 18, 2025 for approximately $0.2 million collectively. That verdict was notional and contingent and had no preclusive effect on any follow on trials by absent class members in terms of causation and damages. The class representatives' ability to collect any damages from the CNO Entities depended on the outcome of a bench trial on alter ego liability, which was held between August 26 to September 2, 2025. On September 30, 2026, the Court issued its post-trial findings of fact and conclusions of law, rejecting plaintiffs’ alter ego claim and holding the class is not entitled to the extraordinary equitable remedy of alter ego liability and that the CNO Entities are entitled to judgment as a matter of law. That same day, the Court entered final judgment in favor of the CNO Entities and against the class representatives and all members of the certified class, ordering that the plaintiff class shall take nothing against the CNO Entities and terminating the action. On October 26, 2026, plaintiffs filed a notice of appeal related to the Court's final judgment, bifurcation, and class certification rulings. The CNO Entities will continue to vigorously defend the case on appeal. 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.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References

+ Details

INVESTMENT BORROWINGS - SCHEDULE OF TERMS OF THE BORROWINGS FROM THE FHLB (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 3,191.7	$ 2,441.7
Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	3,191.7
Borrowings Due November 2026 Rate \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 10.0
Interest rate	4.354%
Borrowings Due January 2027 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 75.0
Interest rate	4.109%
Borrowings Due January 2027 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.197%
Borrowings Due January 2027 Rate Three \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.36%
Borrowings Due June 2027 Rate \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 10.0
Interest rate	4.473%
Borrowings Due September 2027 Rate \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 12.5
Interest rate	4.406%
Borrowings Due January 2028 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 75.0
Interest rate	4.343%
Borrowings Due January 2028 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 134.5
Interest rate	4.333%
Borrowings Due January 2028 Rate Three \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.237%
Borrowings Due January 2028 Rate Four \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.252%
Borrowings Due January 2028 Rate Five \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.198%
Borrowings Due February 2028 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.284%
Borrowings Due February 2028 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 21.0
Interest rate	4.172%
Borrowings Due February 2028 Rate Three \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 22.0
Interest rate	4.255%
Borrowings Due February 2028 Rate Four \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.297%
Borrowings Due July 2027 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 27.0
Interest rate	4.428%
Borrowings Due July 2027 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 15.0
Interest rate	4.26%
Borrowings Due August 2028 Rate \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 35.0
Interest rate	4.27%
Borrowings Due September 2028 Rate \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 12.5
Interest rate	4.502%
Borrowings Due May 2029 Rate \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 42.2
Interest rate	4.503%
Borrowings Due July 2029 Rate \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 200.0
Interest rate	4.33%
Borrowings Due August 2029 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.233%
Borrowings Due August 2029 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.518%
Borrowings Due August 2029 Rate Three \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 75.0
Interest rate	4.403%
Borrowings Due September 2029 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.245%
Borrowings Due September 2029 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 65.5
Interest rate	4.378%
Borrowings Due September 2029 Rate Three \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 57.7
Interest rate	4.454%
Borrowings Due April 2030 Rate \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.408%
Borrowings Due May 2030 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.404%
Borrowings Due May 2030 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.395%
Borrowings Due August 2030 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.252%
Borrowings Due August 2030 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.324%
Borrowings Due August 2030 Rate Three \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 200.0
Interest rate	4.337%
Borrowings Due August 2030 Rate Four \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.283%
Borrowings Due September Rate \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 125.0
Interest rate	4.38%
Borrowings Due January 2031 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.269%
Borrowings Due January 2031 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.26%
Borrowings Due January 2031 Rate Three \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.378%
Borrowings Due February 2031 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 150.0
Interest rate	4.404%
Borrowings Due February 2031 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.45%
Borrowings Due April 2031 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.312%
Borrowings Due April 2031 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.302%
Borrowings Due April 2031 Rate Three \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.493%
Borrowings Due April 2031 Rate Four \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 100.0
Interest rate	4.461%
Borrowings Due May 2031 Rate One \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 5.0
Interest rate	4.317%
Borrowings Due May 2031 Rate Two \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 21.8
Interest rate	4.30%
Borrowings Due May 2031 Rate Three \| Federal Home Loan Bank Advances
Debt and Equity Securities, FV-NI [Line Items]
Investment borrowings	$ 50.0
Interest rate	4.381%

LIABILITIES FOR INSURANCE PRODUCTS - SCHEDULE OF CHANGES IN POLICYHOLDER ACCOUNT BALANCES (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025
Policyholder Account Balance [Roll Forward]
Policyholder account values, beginning of period excluding contracts 100% ceded	$ 18,480.5	$ 17,222.4
Issuances (funds collected from new business)	1,782.0	1,790.4
Premiums received (premiums collected from inforce business)	413.5	405.5
Policy charges	(180.4)	(172.4)
Surrenders and withdrawals	(1,227.1)	(1,522.3)
Benefit payments	(300.9)	(317.8)
Interest credited	518.4	420.8
Other	41.4	45.7
Policyholder account values, end of period excluding contracts 100% ceded	19,527.4	17,872.3
Policyholder account values, end of period for contracts 100% ceded	694.9	752.4
Amount of reserves above (below) policyholder account values	(403.0)	(334.4)
Policyholder account balances	19,819.3	18,290.3	$ 18,912.6
Balance, end of period, reinsurance ceded	(718.5)	(777.8)
Balance, end of period, net of reinsurance	19,100.8	$ 17,512.5
Weighted average crediting rate
Net amount at risk	32,593.2	$ 30,653.4
Fixed indexed annuities
Policyholder Account Balance [Roll Forward]
Policyholder account values, beginning of period excluding contracts 100% ceded	11,633.0	10,766.3
Issuances (funds collected from new business)	1,321.0	1,265.4
Premiums received (premiums collected from inforce business)	29.6	17.9
Policy charges	(22.5)	(20.6)
Surrenders and withdrawals	(762.5)	(670.5)
Benefit payments	(208.8)	(219.8)
Interest credited	312.5	248.3
Other	43.0	46.1
Policyholder account values, end of period excluding contracts 100% ceded	12,345.3	11,433.1
Policyholder account values, end of period for contracts 100% ceded	104.4	115.1
Amount of reserves above (below) policyholder account values	(419.2)	(352.9)
Policyholder account balances	12,030.5	11,195.3
Balance, end of period, reinsurance ceded	(98.2)	(109.9)
Balance, end of period, net of reinsurance	$ 11,932.3	$ 11,085.4
Weighted average crediting rate	2.20%	2.20%
Cash surrender value, net of reinsurance	$ 11,552.8	$ 10,688.5
Fixed interest annuities
Policyholder Account Balance [Roll Forward]
Policyholder account values, beginning of period excluding contracts 100% ceded	1,637.5	1,646.6
Issuances (funds collected from new business)	124.8	142.2
Premiums received (premiums collected from inforce business)	1.3	1.9
Policy charges	(1.5)	(1.4)
Surrenders and withdrawals	(117.4)	(117.6)
Benefit payments	(70.9)	(74.9)
Interest credited	36.6	38.2
Other	0.1	0.1
Policyholder account values, end of period excluding contracts 100% ceded	1,610.5	1,635.1
Policyholder account values, end of period for contracts 100% ceded	461.0	503.8
Amount of reserves above (below) policyholder account values	0.0	0.0
Policyholder account balances	2,071.5	2,138.9
Balance, end of period, reinsurance ceded	(461.0)	(503.8)
Balance, end of period, net of reinsurance	$ 1,610.5	$ 1,635.1
Weighted average crediting rate	2.90%	3.10%
Cash surrender value, net of reinsurance	$ 1,559.1	$ 1,586.6
Other annuities
Policyholder Account Balance [Roll Forward]
Policyholder account values, beginning of period excluding contracts 100% ceded	104.5	107.4
Issuances (funds collected from new business)	0.0	0.0
Premiums received (premiums collected from inforce business)	19.8	22.8
Policy charges	0.0	0.0
Surrenders and withdrawals	(23.8)	(22.7)
Benefit payments	(3.7)	(4.3)
Interest credited	1.6	2.0
Other	0.0	(0.3)
Policyholder account values, end of period excluding contracts 100% ceded	98.4	104.9
Policyholder account values, end of period for contracts 100% ceded	31.2	30.3
Amount of reserves above (below) policyholder account values	0.0	0.0
Policyholder account balances	129.6	135.2
Balance, end of period, reinsurance ceded	(31.2)	(30.3)
Balance, end of period, net of reinsurance	$ 98.4	$ 104.9
Weighted average crediting rate	2.80%	2.70%
Cash surrender value, net of reinsurance	$ 98.4	$ 104.9
Interest-sensitive life
Policyholder Account Balance [Roll Forward]
Policyholder account values, beginning of period excluding contracts 100% ceded	1,383.2	1,321.8
Issuances (funds collected from new business)	36.5	32.8
Premiums received (premiums collected from inforce business)	168.8	164.0
Policy charges	(156.4)	(150.4)
Surrenders and withdrawals	(29.1)	(27.7)
Benefit payments	(17.4)	(18.8)
Interest credited	54.4	48.3
Other	(1.7)	(0.2)
Policyholder account values, end of period excluding contracts 100% ceded	1,438.3	1,369.8
Policyholder account values, end of period for contracts 100% ceded	88.8	93.3
Amount of reserves above (below) policyholder account values	16.2	18.5
Policyholder account balances	1,543.3	1,481.6
Balance, end of period, reinsurance ceded	(106.3)	(111.0)
Balance, end of period, net of reinsurance	$ 1,437.0	$ 1,370.6
Weighted average crediting rate	4.80%	5.20%
Cash surrender value, net of reinsurance	$ 1,189.8	$ 1,122.7
Funding agreements
Policyholder Account Balance [Roll Forward]
Policyholder account values, beginning of period excluding contracts 100% ceded	3,373.6	3,021.2
Issuances (funds collected from new business)	299.7	350.0
Premiums received (premiums collected from inforce business)	0.0	0.0
Policy charges	0.0	0.0
Surrenders and withdrawals	(95.1)	(473.8)
Benefit payments	0.0	0.0
Interest credited	111.5	82.2
Other	0.0	0.0
Policyholder account values, end of period excluding contracts 100% ceded	3,689.7	2,979.6
Policyholder account values, end of period for contracts 100% ceded	0.0	0.0
Amount of reserves above (below) policyholder account values	0.0	0.0
Policyholder account balances	3,689.7	2,979.6
Balance, end of period, reinsurance ceded	0.0	0.0
Balance, end of period, net of reinsurance	$ 3,689.7	$ 2,979.6
Weighted average crediting rate	4.30%	4.20%
Cash surrender value, net of reinsurance	$ 0.0	$ 0.0
Other
Policyholder Account Balance [Roll Forward]
Policyholder account values, beginning of period excluding contracts 100% ceded	348.7	359.1
Issuances (funds collected from new business)	0.0	0.0
Premiums received (premiums collected from inforce business)	194.0	198.9
Policy charges	0.0	0.0
Surrenders and withdrawals	(199.2)	(210.0)
Benefit payments	(0.1)	0.0
Interest credited	1.8	1.8
Other	0.0	0.0
Policyholder account values, end of period excluding contracts 100% ceded	345.2	349.8
Policyholder account values, end of period for contracts 100% ceded	9.5	9.9
Amount of reserves above (below) policyholder account values	0.0	0.0
Policyholder account balances	354.7	359.7
Balance, end of period, reinsurance ceded	(21.8)	(22.8)
Balance, end of period, net of reinsurance	$ 332.9	$ 336.9
Weighted average crediting rate	0.80%	0.80%
Cash surrender value, net of reinsurance	$ 332.9	$ 336.9

LIABILITIES FOR INSURANCE PRODUCTS - SCHEDULE OF CHANGES IN LIABILITY FOR FUTURE POLICY BENEFITS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025	Dec. 31, 2024
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	$ 9,717.6	$ 9,112.5
Effect of changes in discount rate assumptions, beginning of period	257.2	514.4
Beginning PVENP at original discount rate	9,974.8	9,626.9
Effect of changes in cash flow assumptions			$ 553.7	$ 152.8
Effect of actual variances from expected experience			(167.4)	(128.2)
Adjusted beginning of period PVENP			10,361.1	9,651.5
Issuances	1,208.4	1,022.3
Interest accrual	336.7	311.8
Net premiums collected	(1,081.7)	(1,038.4)
Ending PVENP at original discount rate	10,824.5	9,947.2
Effect of changes in discount rate assumptions, end of period	(922.6)	(235.4)
PVENP, end of period	9,901.9	9,711.8
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	19,195.2	18,279.0
Effect of changes in discount rate assumptions, beginning of period	700.9	1,171.7
Beginning PVEFPB at original discount rate	19,896.1	19,450.7
Effect of changes in cash flow assumptions			517.1	129.6
Effect of actual variances from expected experience			(210.5)	(162.7)
Adjusted beginning of period PVEFPB			20,202.7	19,417.6
Issuances	1,214.3	1,030.9
Interest accrual	702.1	674.2
Benefit payments	(1,316.4)	(1,288.6)
Ending PVEFPB at original discount rate	20,802.7	19,834.1
Effect of changes in discount rate assumptions, end of period	(2,239.3)	(593.1)
PVEFPB, end of period	18,563.4	19,241.0
Net liability for future policy benefits	8,661.5	9,529.2
Flooring impact	1.2	0.9
Adjusted net liability for future policy benefits	8,662.7	9,530.1
Related reinsurance recoverable	(491.2)	(550.5)
Net liability for future policy benefits, net of reinsurance recoverable	8,171.5	8,979.6
Adjusted net liability for future policy benefits	8,662.7	9,530.1
Reserves excluded from rollforward	2,227.7	2,351.3
Deferred liability	74.6	69.2
Future loss reserves	23.3	24.9
Future policy benefits	10,988.3	11,975.5	11,898.0
Supplemental health
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	2,645.7	2,643.9
Effect of changes in discount rate assumptions, beginning of period	107.6	180.0
Beginning PVENP at original discount rate	2,753.3	2,823.9
Effect of changes in cash flow assumptions			(22.6)	(63.2)
Effect of actual variances from expected experience			7.3	(54.6)
Adjusted beginning of period PVENP			2,738.0	2,706.1
Issuances	199.5	230.3
Interest accrual	91.8	91.7
Net premiums collected	(264.9)	(264.7)
Ending PVENP at original discount rate	2,764.4	2,763.4
Effect of changes in discount rate assumptions, end of period	(286.1)	(96.8)
PVENP, end of period	2,478.3	2,666.6
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	5,984.2	5,828.2
Effect of changes in discount rate assumptions, beginning of period	359.2	516.6
Beginning PVEFPB at original discount rate	6,343.4	6,344.8
Effect of changes in cash flow assumptions			(38.8)	(87.2)
Effect of actual variances from expected experience			9.6	(61.8)
Adjusted beginning of period PVEFPB			6,314.2	6,195.8
Issuances	199.7	233.6
Interest accrual	220.7	218.6
Benefit payments	(322.0)	(319.0)
Ending PVEFPB at original discount rate	6,412.6	6,329.0
Effect of changes in discount rate assumptions, end of period	(852.8)	(317.0)
PVEFPB, end of period	5,559.8	6,012.0
Net liability for future policy benefits	3,081.5	3,345.4
Flooring impact	0.0	0.0
Adjusted net liability for future policy benefits	3,081.5	3,345.4
Related reinsurance recoverable	(1.2)	(1.7)
Net liability for future policy benefits, net of reinsurance recoverable	3,080.3	3,343.7
Adjusted net liability for future policy benefits	3,081.5	3,345.4
Medicare supplement
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	3,661.6	3,161.9
Effect of changes in discount rate assumptions, beginning of period	111.5	195.2
Beginning PVENP at original discount rate	3,773.1	3,357.1
Effect of changes in cash flow assumptions			581.9	182.7
Effect of actual variances from expected experience			(64.0)	44.2
Adjusted beginning of period PVENP			4,291.0	3,584.0
Issuances	596.0	354.3
Interest accrual	131.8	109.0
Net premiums collected	(391.7)	(345.7)
Ending PVENP at original discount rate	4,627.1	3,701.6
Effect of changes in discount rate assumptions, end of period	(405.4)	(104.8)
PVENP, end of period	4,221.7	3,596.8
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	3,864.0	3,375.6
Effect of changes in discount rate assumptions, beginning of period	120.6	211.5
Beginning PVEFPB at original discount rate	3,984.6	3,587.1
Effect of changes in cash flow assumptions			608.7	192.0
Effect of actual variances from expected experience			(65.7)	51.0
Adjusted beginning of period PVEFPB			4,527.6	3,830.1
Issuances	596.1	354.5
Interest accrual	139.3	116.6
Benefit payments	(408.5)	(379.6)
Ending PVEFPB at original discount rate	4,854.5	3,921.6
Effect of changes in discount rate assumptions, end of period	(435.8)	(113.6)
PVEFPB, end of period	4,418.7	3,808.0
Net liability for future policy benefits	197.0	211.2
Flooring impact	1.2	0.9
Adjusted net liability for future policy benefits	198.2	212.1
Related reinsurance recoverable	0.0	0.0
Net liability for future policy benefits, net of reinsurance recoverable	198.2	212.1
Adjusted net liability for future policy benefits	198.2	212.1
Long-term care
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	1,196.6	1,102.8
Effect of changes in discount rate assumptions, beginning of period	(4.8)	25.7
Beginning PVENP at original discount rate	1,191.8	1,128.5
Effect of changes in cash flow assumptions			(3.5)	31.0
Effect of actual variances from expected experience			(34.2)	(28.3)
Adjusted beginning of period PVENP			1,154.1	1,131.2
Issuances	141.4	135.4
Interest accrual	42.0	40.1
Net premiums collected	(129.4)	(124.7)
Ending PVENP at original discount rate	1,208.1	1,182.0
Effect of changes in discount rate assumptions, end of period	(70.4)	7.1
PVENP, end of period	1,137.7	1,189.1
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	4,409.2	4,240.1
Effect of changes in discount rate assumptions, beginning of period	10.5	94.1
Beginning PVEFPB at original discount rate	4,419.7	4,334.2
Effect of changes in cash flow assumptions			(22.9)	25.8
Effect of actual variances from expected experience			(60.9)	(42.6)
Adjusted beginning of period PVEFPB			4,335.9	4,317.4
Issuances	141.6	135.5
Interest accrual	172.9	171.4
Benefit payments	(217.9)	(219.3)
Ending PVEFPB at original discount rate	4,432.5	4,405.0
Effect of changes in discount rate assumptions, end of period	(393.2)	26.5
PVEFPB, end of period	4,039.3	4,431.5
Net liability for future policy benefits	2,901.6	3,242.4
Flooring impact	0.0	0.0
Adjusted net liability for future policy benefits	2,901.6	3,242.4
Related reinsurance recoverable	(351.8)	(386.5)
Net liability for future policy benefits, net of reinsurance recoverable	2,549.8	2,855.9
Adjusted net liability for future policy benefits	2,901.6	3,242.4
Traditional life
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	2,213.7	2,203.9
Effect of changes in discount rate assumptions, beginning of period	42.9	113.5
Beginning PVENP at original discount rate	2,256.6	2,317.4
Effect of changes in cash flow assumptions			(2.1)	2.3
Effect of actual variances from expected experience			(76.5)	(89.5)
Adjusted beginning of period PVENP			2,178.0	2,230.2
Issuances	267.9	297.2
Interest accrual	71.1	71.0
Net premiums collected	(292.1)	(298.2)
Ending PVENP at original discount rate	2,224.9	2,300.2
Effect of changes in discount rate assumptions, end of period	(160.7)	(40.9)
PVENP, end of period	2,064.2	2,259.3
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	4,677.8	4,570.6
Effect of changes in discount rate assumptions, beginning of period	199.5	333.3
Beginning PVEFPB at original discount rate	4,877.3	4,903.9
Effect of changes in cash flow assumptions			(29.9)	1.8
Effect of actual variances from expected experience			(89.8)	(111.7)
Adjusted beginning of period PVEFPB			4,757.6	4,794.0
Issuances	273.1	302.2
Interest accrual	159.9	158.0
Benefit payments	(345.8)	(348.6)
Ending PVEFPB at original discount rate	4,844.8	4,905.6
Effect of changes in discount rate assumptions, end of period	(526.5)	(180.0)
PVEFPB, end of period	4,318.3	4,725.6
Net liability for future policy benefits	2,254.1	2,466.3
Flooring impact	0.0	0.0
Adjusted net liability for future policy benefits	2,254.1	2,466.3
Related reinsurance recoverable	(138.2)	(162.3)
Net liability for future policy benefits, net of reinsurance recoverable	2,115.9	2,304.0
Adjusted net liability for future policy benefits	2,254.1	2,466.3
Other annuities
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Present value of expected net premiums ("PVENP"), beginning of period	0.0	0.0
Effect of changes in discount rate assumptions, beginning of period	0.0	0.0
Beginning PVENP at original discount rate	0.0	0.0
Effect of changes in cash flow assumptions			0.0	0.0
Effect of actual variances from expected experience			0.0	0.0
Adjusted beginning of period PVENP			0.0	0.0
Issuances	3.6	5.1
Interest accrual	0.0	0.0
Net premiums collected	(3.6)	(5.1)
Ending PVENP at original discount rate	0.0	0.0
Effect of changes in discount rate assumptions, end of period	0.0	0.0
PVENP, end of period	0.0	0.0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Present value of expected future policy benefits ("PVEFPB"), beginning of period	260.0	264.5
Effect of changes in discount rate assumptions, beginning of period	11.1	16.2
Beginning PVEFPB at original discount rate	271.1	280.7
Effect of changes in cash flow assumptions			0.0	(2.8)
Effect of actual variances from expected experience			(3.7)	2.4
Adjusted beginning of period PVEFPB			$ 267.4	$ 280.3
Issuances	3.8	5.1
Interest accrual	9.3	9.6
Benefit payments	(22.2)	(22.1)
Ending PVEFPB at original discount rate	258.3	272.9
Effect of changes in discount rate assumptions, end of period	(31.0)	(9.0)
PVEFPB, end of period	227.3	263.9
Net liability for future policy benefits	227.3	263.9
Flooring impact	0.0	0.0
Adjusted net liability for future policy benefits	227.3	263.9
Related reinsurance recoverable	0.0	0.0
Net liability for future policy benefits, net of reinsurance recoverable	227.3	263.9
Adjusted net liability for future policy benefits	$ 227.3	$ 263.9

DERIVATIVES - SCHEDULE PRE-TAX GAINS (LOSSES) RECOGNIZED IN NET INCOME FOR DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Derivative [Line Items]
Gains on derivatives not designated as hedging instruments	$ (1.8)	$ 98.8	$ 94.1	$ 110.5
Net pre-tax impact	100.7	(4.6)	107.5	(39.7)
Embedded derivatives
Derivative [Line Items]
Embedded derivatives related to fixed indexed annuities	8.2	0.0	11.6	(7.1)
Embedded derivatives \| Embedded derivatives related to fixed indexed annuities
Derivative [Line Items]
Embedded derivatives related to fixed indexed annuities	(102.5)	103.4	(13.4)	150.2
Income Statement Location [Axis]: us-gaap:GainLossOnInvestments \| Embedded derivatives \| Embedded derivative related to modified coinsurance agreement
Derivative [Line Items]
Gains on derivatives not designated as hedging instruments	(2.2)	0.5	(2.8)	1.8
Income Statement Location [Axis]: cno:NetInvestmentIncomeOnPolicyholderAndReinsurerAccountsAndOtherSpecialPurposePortfolios \| Fixed indexed call options
Derivative [Line Items]
Gains on derivatives not designated as hedging instruments	$ 0.4	$ 98.3	$ 96.9	$ 108.7

LIABILITIES FOR INSURANCE PRODUCTS

9 Months Ended

Sep. 30, 2026

Insurance [Abstract]

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 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 third quarter of 2026 and 2025, as part of our comprehensive annual actuarial review, we reviewed our actual experience and updated our assumptions for future cash flows. The impact of updating these assumptions is reflected in the "Effect of changes in cash flow assumptions" line items in the tables below.


	Supplemental health		Medicare supplement		Long-term care		Traditional life		Other annuities		Total
Present value of expected net premiums ("PVENP"), beginning of period	$	2,645.7	$	3,661.6	$	1,196.6	$	2,213.7	$	—	$	9,717.6
Effect of changes in discount rate assumptions, beginning of period	107.6		111.5		(4.8)		42.9		—		257.2
Beginning PVENP at original discount rate	2,753.3		3,773.1		1,191.8		2,256.6		—		9,974.8
Effect of changes in cash flow assumptions	(22.6)		581.9		(3.5)		(2.1)		—		553.7
Effect of actual variances from expected experience	7.3		(64.0)		(34.2)		(76.5)		—		(167.4)
Adjusted beginning of period PVENP	2,738.0		4,291.0		1,154.1		2,178.0		—		10,361.1
Issuances	199.5		596.0		141.4		267.9		3.6		1,208.4
Interest accrual	91.8		131.8		42.0		71.1		—		336.7
Net premiums collected	(264.9)		(391.7)		(129.4)		(292.1)		(3.6)		(1,081.7)
Ending PVENP at original discount rate	2,764.4		4,627.1		1,208.1		2,224.9		—		10,824.5
Effect of changes in discount rate assumptions, end of period	(286.1)		(405.4)		(70.4)		(160.7)		—		(922.6)
PVENP, end of period	$	2,478.3	$	4,221.7	$	1,137.7	$	2,064.2	$	—	$	9,901.9


Present value of expected future policy benefits ("PVEFPB"), beginning of period	$	5,984.2	$	3,864.0	$	4,409.2	$	4,677.8	$	260.0	$	19,195.2
Effect of changes in discount rate assumptions, beginning of period	359.2		120.6		10.5		199.5		11.1		700.9
Beginning PVEFPB at original discount rate	6,343.4		3,984.6		4,419.7		4,877.3		271.1		19,896.1
Effect of changes in cash flow assumptions	(38.8)		608.7		(22.9)		(29.9)		—		517.1
Effect of actual variances from expected experience	9.6		(65.7)		(60.9)		(89.8)		(3.7)		(210.5)
Adjusted beginning of period PVEFPB	6,314.2		4,527.6		4,335.9		4,757.6		267.4		20,202.7
Issuances	199.7		596.1		141.6		273.1		3.8		1,214.3
Interest accrual	220.7		139.3		172.9		159.9		9.3		702.1
Benefit payments	(322.0)		(408.5)		(217.9)		(345.8)		(22.2)		(1,316.4)
Ending PVEFPB at original discount rate	6,412.6		4,854.5		4,432.5		4,844.8		258.3		20,802.7
Effect of changes in discount rate assumptions, end of period	(852.8)		(435.8)		(393.2)		(526.5)		(31.0)		(2,239.3)
PVEFPB, end of period	$	5,559.8	$	4,418.7	$	4,039.3	$	4,318.3	$	227.3	$	18,563.4


Net liability for future policy benefits	$	3,081.5	$	197.0	$	2,901.6	$	2,254.1	$	227.3	$	8,661.5
Flooring impact	—		1.2		—		—		—		1.2
Adjusted net liability for future policy benefits	3,081.5		198.2		2,901.6		2,254.1		227.3		8,662.7
Related reinsurance recoverable	(1.2)		—		(351.8)		(138.2)		—		(491.2)
Net liability for future policy benefits, net of reinsurance recoverable	$	3,080.3	$	198.2	$	2,549.8	$	2,115.9	$	227.3	$	8,171.5


Adjusted net liability for future policy benefits	$	8,662.7
Reserves excluded from roll forward (a)	2,227.7
Deferred liability	74.6
Future loss reserves (b)	23.3
Future policy benefits	$	10,988.3

________________

(a) Primarily comprised of blocks of business that are 100% ceded.


	Supplemental health		Medicare supplement		Long-term care		Traditional life		Other annuities		Total
PVENP, beginning of period	$	2,643.9	$	3,161.9	$	1,102.8	$	2,203.9	$	—	$	9,112.5
Effect of changes in discount rate assumptions, beginning of period	180.0		195.2		25.7		113.5		—		514.4
Beginning PVENP at original discount rate	2,823.9		3,357.1		1,128.5		2,317.4		—		9,626.9
Effect of changes in cash flow assumptions	(63.2)		182.7		31.0		2.3		—		152.8
Effect of actual variances from expected experience	(54.6)		44.2		(28.3)		(89.5)		—		(128.2)
Adjusted beginning of period PVENP	2,706.1		3,584.0		1,131.2		2,230.2		—		9,651.5
Issuances	230.3		354.3		135.4		297.2		5.1		1,022.3
Interest accrual	91.7		109.0		40.1		71.0		—		311.8
Net premiums collected	(264.7)		(345.7)		(124.7)		(298.2)		(5.1)		(1,038.4)
Ending PVENP at original discount rate	2,763.4		3,701.6		1,182.0		2,300.2		—		9,947.2
Effect of changes in discount rate assumptions, end of period	(96.8)		(104.8)		7.1		(40.9)		—		(235.4)
PVENP, end of period	$	2,666.6	$	3,596.8	$	1,189.1	$	2,259.3	$	—	$	9,711.8


PVEFPB, beginning of period	$	5,828.2	$	3,375.6	$	4,240.1	$	4,570.6	$	264.5	$	18,279.0
Effect of changes in discount rate assumptions, beginning of period	516.6		211.5		94.1		333.3		16.2		1,171.7
Beginning PVEFPB at original discount rate	6,344.8		3,587.1		4,334.2		4,903.9		280.7		19,450.7
Effect of changes in cash flow assumptions	(87.2)		192.0		25.8		1.8		(2.8)		129.6
Effect of actual variances from expected experience	(61.8)		51.0		(42.6)		(111.7)		2.4		(162.7)
Adjusted beginning of period PVEFPB	6,195.8		3,830.1		4,317.4		4,794.0		280.3		19,417.6
Issuances	233.6		354.5		135.5		302.2		5.1		1,030.9
Interest accrual	218.6		116.6		171.4		158.0		9.6		674.2
Benefit payments	(319.0)		(379.6)		(219.3)		(348.6)		(22.1)		(1,288.6)
Ending PVEFPB at original discount rate	6,329.0		3,921.6		4,405.0		4,905.6		272.9		19,834.1
Effect of changes in discount rate assumptions, end of period	(317.0)		(113.6)		26.5		(180.0)		(9.0)		(593.1)
PVEFPB, end of period	$	6,012.0	$	3,808.0	$	4,431.5	$	4,725.6	$	263.9	$	19,241.0


Net liability for future policy benefits	$	3,345.4	$	211.2	$	3,242.4	$	2,466.3	$	263.9	$	9,529.2
Flooring impact	—		0.9		—		—		—		0.9
Adjusted net liability for future policy benefits	3,345.4		212.1		3,242.4		2,466.3		263.9		9,530.1
Related reinsurance recoverable	(1.7)		—		(386.5)		(162.3)		—		(550.5)
Net liability for future policy benefits, net of reinsurance recoverable	$	3,343.7	$	212.1	$	2,855.9	$	2,304.0	$	263.9	$	8,979.6


Adjusted net liability for future policy benefits	$	9,530.1
Reserves excluded from roll forward (a)	2,351.3
Deferred liability	69.2
Future loss reserves (b)	24.9
Future policy benefits	$	11,975.5

________________

(a) Primarily comprised of blocks of business that are 100% ceded.

Many of our fixed indexed annuity products include a GLWB that is considered a 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 non-performance risk). Market assumptions are updated quarterly to reflect current market conditions.

In the third quarter of 2026 and 2025, as part of our comprehensive annual actuarial review, we reviewed our nonmarket assumptions used to calculate the MRBs and determined updates were warranted. The impact of updating these assumptions is reflected in the "Effect of changes in future expected policyholder behavior" line items in the table below.

The following table presents the balance of and changes in MRBs associated with our fixed indexed annuities (dollars in millions):


	Nine months ended
	September 30,
	2026		2025
Net liability, beginning of period	$	48.1	$	60.0
Effect of changes in the instrument-specific credit risk, beginning of period	0.9		1.4
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	49.0		61.4
Issuances	2.6		3.4
Interest accrual	1.2		2.0


Effect of changes in interest rates	(7.6)		0.9
Effect of changes in equity markets	(2.8)		(0.3)
Effect of changes in equity index volatility	1.1		2.2
Actual policyholder behavior different from expected behavior	(1.0)		(0.6)
Effect of changes in future expected policyholder behavior - other	(20.3)		(13.3)
Effect of changes in future expected policyholder behavior - risk margin	(0.1)		0.1
Effect of changes in assumptions	0.5		(2.4)
Net liability, end of period, before effect of changes in the instrument-specific credit risk	22.6		53.4
Effect of changes in the instrument-specific credit risk, end of period	(0.7)		(0.8)


Net liability, end of period, net of reinsurance	$	21.9	$	52.6

Balance reported as an asset	$	—	$	—
Balance reported as a liability	21.9		52.6
Net liability	$	21.9	$	52.6

Net amount at risk	$	13.0	$	22.1
Weighted average attained age of contract holders	70		70

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)
	Nine months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Other annuities	$	4.5	$	6.0	$	9.3	$	9.6
Supplemental health	573.2		554.0		128.9		126.9
Medicare supplement	516.3		465.4		7.5		7.6
Long-term care	277.9		264.8		130.9		131.3
Traditional life	555.4		551.6		88.8		87.0
Total	$	1,927.3	$	1,841.8	$	365.4	$	362.4

________________

(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.


	September 30, 2026				September 30, 2025
	Undiscounted		Discounted (a)		Undiscounted		Discounted (a)
Other annuities
Expected future gross premiums	$	—	$	—	$	—	$	—
Expected future benefits and expenses	286.2		227.3		312.8		263.9
Supplemental health
Expected future gross premiums	9,263.0		5,347.5		9,098.7		5,687.4
Expected future benefits and expenses	10,994.2		5,559.8		10,781.4		6,012.0
Medicare supplement
Expected future gross premiums	8,725.8		5,412.7		6,930.0		4,753.6
Expected future benefits and expenses	7,217.8		4,418.7		5,565.5		3,808.0
Long-term care
Expected future gross premiums	3,842.8		2,496.1		3,648.8		2,564.4
Expected future benefits and expenses	8,276.5		4,039.3		8,100.0		4,431.5
Traditional life
Expected future gross premiums	5,822.1		3,987.1		5,804.4		4,231.0
Expected future benefits and expenses	7,622.1		4,318.3		7,680.7		4,725.6

________________

(a) Calculated at the discount rates at period end.

Loss expense as a result of net premium ratio capping was not material for the nine months ended September 30, 2026 and 2025.

The following table provides the weighted average durations (under locked-in discount rates) of the liability for future policy benefits in years:


	September 30, 2026	September 30, 2025
Other annuities	9.5	9.5
Supplemental health	10.5	10.7
Medicare supplement	7.8	5.5
Long-term care	10.8	10.7
Traditional life	10.0	10.1

The following table provides the weighted average interest rates for the liability for future policy benefits:


	September 30, 2026		September 30, 2025
Other annuities
Interest accretion rate	4.88	%	4.87	%
Current discount rate	6.49		5.32
Supplemental health
Interest accretion rate	4.94		4.96
Current discount rate	6.45		5.26
Medicare supplement
Interest accretion rate	4.27		4.33
Current discount rate	6.21		4.93
Long-term care
Interest accretion rate	5.61		5.64
Current discount rate	6.52		5.35
Traditional life
Interest accretion rate	4.84		4.80
Current discount rate	6.49		5.30

The following tables present the balances of and changes in the liability for policyholder account balances (dollars in millions):


	Nine months ended
	September 30, 2026
	Fixed indexed annuities		Fixed interest annuities		Other annuities		Interest-sensitive life (a)		Funding agreements		Other (b)		Total
Policyholder account values, beginning of period excluding contracts 100% ceded	$	11,633.0	$	1,637.5	$	104.5	$	1,383.2	$	3,373.6	$	348.7	$	18,480.5
Issuances (funds collected from new business)	1,321.0		124.8		—		36.5		299.7		—		1,782.0
Premiums received (premiums collected from inforce business)	29.6		1.3		19.8		168.8		—		194.0		413.5
Policy charges	(22.5)		(1.5)		—		(156.4)		—		—		(180.4)
Surrenders and withdrawals	(762.5)		(117.4)		(23.8)		(29.1)		(95.1)		(199.2)		(1,227.1)
Benefit payments	(208.8)		(70.9)		(3.7)		(17.4)		—		(0.1)		(300.9)
Interest credited	312.5		36.6		1.6		54.4		111.5		1.8		518.4
Other	43.0		0.1		—		(1.7)		—		—		41.4
Policyholder account values, end of period excluding contracts 100% ceded	12,345.3		1,610.5		98.4		1,438.3		3,689.7		345.2		19,527.4
Policyholder account values, end of period for contracts 100% ceded	104.4		461.0		31.2		88.8		—		9.5		694.9
Amount of reserves above (below) policyholder account values (c)	(419.2)		—		—		16.2		—		—		(403.0)
Policyholder account balance, end of period	$	12,030.5	$	2,071.5	$	129.6	$	1,543.3	$	3,689.7	$	354.7	$	19,819.3

Balance, end of period, reinsurance ceded	(98.2)		(461.0)		(31.2)		(106.3)		—		(21.8)		(718.5)
Balance, end of period, net of reinsurance	$	11,932.3	$	1,610.5	$	98.4	$	1,437.0	$	3,689.7	$	332.9	$	19,100.8



Weighted average crediting rate (d)	2.2	%	2.9	%	2.8	%	4.8	%	4.3	%	0.8	%



Cash surrender value, net of reinsurance	$	11,552.8	$	1,559.1	$	98.4	$	1,189.8	$	—	$	332.9

________________

(b) Predominantly consists of retained asset accounts associated with our traditional life and supplemental health blocks.

(d) Excludes any impact from the amount of reserves above (below) policyholder account balances.


	Nine months ended
	September 30, 2025
	Fixed indexed annuities		Fixed interest annuities		Other annuities		Interest-sensitive life (a)		Funding agreements		Other (b)		Total
Policyholder account values, beginning of period excluding contracts 100% ceded	$	10,766.3	$	1,646.6	$	107.4	$	1,321.8	$	3,021.2	$	359.1	$	17,222.4
Issuances (funds collected from new business)	1,265.4		142.2		—		32.8		350.0		—		1,790.4
Premiums received (premiums collected from inforce business)	17.9		1.9		22.8		164.0		—		198.9		405.5
Policy charges	(20.6)		(1.4)		—		(150.4)		—		—		(172.4)
Surrenders and withdrawals	(670.5)		(117.6)		(22.7)		(27.7)		(473.8)		(210.0)		(1,522.3)
Benefit payments	(219.8)		(74.9)		(4.3)		(18.8)		—		—		(317.8)
Interest credited	248.3		38.2		2.0		48.3		82.2		1.8		420.8
Other	46.1		0.1		(0.3)		(0.2)		—		—		45.7
Policyholder account values, end of period excluding contracts 100% ceded	11,433.1		1,635.1		104.9		1,369.8		2,979.6		349.8		17,872.3
Policyholder account values, end of period for contracts 100% ceded	115.1		503.8		30.3		93.3		—		9.9		752.4
Amount of reserves above (below) policyholder account values (c)	(352.9)		—		—		18.5		—		—		(334.4)
Policyholder account balance, end of period	$	11,195.3	$	2,138.9	$	135.2	$	1,481.6	$	2,979.6	$	359.7	$	18,290.3

Balance, end of period, reinsurance ceded	(109.9)		(503.8)		(30.3)		(111.0)		—		(22.8)		(777.8)
Balance, end of period, net of reinsurance	$	11,085.4	$	1,635.1	$	104.9	$	1,370.6	$	2,979.6	$	336.9	$	17,512.5



Weighted average crediting rate (d)	2.2	%	3.1	%	2.7	%	5.2	%	4.2	%	0.8	%



Cash surrender value, net of reinsurance	$	10,688.5	$	1,586.6	$	104.9	$	1,122.7	$	—	$	336.9

________________

(b) Predominantly consists of retained asset accounts associated with our traditional life and supplemental health blocks.

(d) Excludes any impact from the amount of reserves above (below) policyholder account balances.


	September 30, 2026
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%	$	173.8	$	212.4	$	280.3	$	90.7	$	757.2
3.00%-4.99%	1,187.0		53.8		—		—		1,240.8
5.00% and greater	73.5		—		—		—		73.5
Subtotal	1,434.3		266.2		280.3		90.7		2,071.5
Other annuities
0.00%-2.99%	19.4		18.9		—		—		38.3
3.00%-4.99%	55.9		—		—		—		55.9
5.00% and greater	35.4		—		—		—		35.4
Subtotal	110.7		18.9		—		—		129.6
Interest-sensitive life
0.00%-2.99%	21.5		—		—		808.3		829.8
3.00%-4.99%	365.7		91.4		217.1		3.8		678.0
5.00% and greater	19.1		0.2		—		—		19.3
Subtotal	406.3		91.6		217.1		812.1		1,527.1
Other
0.00%-2.99%	15.4		319.5		—		—		334.9
3.00%-4.99%	19.5		—		—		—		19.5
5.00% and greater	0.3		—		—		—		0.3
Subtotal	35.2		319.5		—		—		354.7
Total
0.00%-2.99%	230.1		550.8		280.3		899.0		1,960.2
3.00%-4.99%	1,628.1		145.2		217.1		3.8		1,994.2
5.00% and greater	128.3		0.2		—		—		128.5
Total policyholder account balances, excluding fixed indexed annuities	$	1,986.5	$	696.2	$	497.4	$	902.8	$	4,082.9
Fixed indexed annuity account balances									12,449.7
Funding agreements									3,689.7
Total policyholder account values									20,222.3
Amount of reserves above (below) policyholder account values									(403.0)
Total policyholder account balances									$	19,819.3

________________

linked to an index, such as the Standard & Poor’s 500 index, rather than a predetermined rate of return; and (ii) funding agreements which have a fixed crediting rate.


	September 30, 2025
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%	$	85.7	$	182.7	$	331.0	$	74.0	$	673.4
3.00%-4.99%	1,187.9		96.7		91.3		11.5		1,387.4
5.00% and greater	78.1		—		—		—		78.1
Subtotal	1,351.7		279.4		422.3		85.5		2,138.9
Other annuities
0.00%-2.99%	23.7		21.1		—		—		44.8
3.00%-4.99%	57.0		—		—		—		57.0
5.00% and greater	33.4		—		—		—		33.4
Subtotal	114.1		21.1		—		—		135.2
Interest-sensitive life
0.00%-2.99%	17.6		—		0.5		756.0		774.1
3.00%-4.99%	361.1		111.0		194.4		2.1		668.6
5.00% and greater	20.2		0.2		—		—		20.4
Subtotal	398.9		111.2		194.9		758.1		1,463.1
Other
0.00%-2.99%	16.0		322.7		—		—		338.7
3.00%-4.99%	20.7		—		—		—		20.7
5.00% and greater	0.3		—		—		—		0.3
Subtotal	37.0		322.7		—		—		359.7
Total
0.00%-2.99%	143.0		526.5		331.5		830.0		1,831.0
3.00%-4.99%	1,626.7		207.7		285.7		13.6		2,133.7
5.00% and greater	132.0		0.2		—		—		132.2
Total policyholder account balances, excluding fixed indexed annuities	$	1,901.7	$	734.4	$	617.2	$	843.6	$	4,096.9
Fixed indexed annuity account balances									11,548.2
Funding agreements									2,979.6
Total policyholder account values									18,624.7
Amount of reserves above (below) policyholder account values									(334.4)
Total policyholder account balances									$	18,290.3

________________

linked to an index, such as the Standard & Poor’s 500 index, rather than a predetermined rate of return; and (ii) funding agreements which have a fixed crediting rate.

INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2026

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of income tax expense are as follows (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Current tax expense	$	8.7	$	16.0	$	22.8	$	19.5
Deferred tax expense	34.5		12.2		64.9		41.2
Total income tax expense calculated based on estimated annual effective tax rate	43.2		28.2		87.7		60.7
Income tax expense (benefit) on discrete items:
Change in valuation allowance for deferred tax assets	22.1		—		22.1		—
Goodwill and other asset impairment	—		(15.1)		—		(15.1)
Total income tax expense	$	65.3	$	13.1	$	109.8	$	45.6

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. statutory corporate tax rate to the estimated annual effective tax rate, reflected in the consolidated statement of operations is as follows:


	Nine months ended
	September 30,
	2026		2025
U.S. statutory corporate rate	21.0	%	21.0	%
Non-taxable income and nondeductible benefits, net	(2.4)		(1.0)

State taxes	1.6		2.1
Estimated annual effective tax rate calculated before discrete items	20.2	%	22.1	%
Impact on the estimated annual effective tax rate from discrete items:
Valuation allowance for deferred tax assets	5.1		—
Goodwill and other asset impairment	—		2.9
Estimated annual effective tax rate	25.3	%	25.0	%

Schedule of Deferred Tax Assets and Liabilities

The components of the Company's income tax assets and liabilities are summarized below (dollars in millions):


	September 30, 2026		December 31, 2025
Deferred tax assets:
Net federal operating loss carryforwards	$	175.6	$	205.0
Net state operating loss carryforwards	35.6		38.0

Capital loss carryforwards	22.1		11.3

Insurance liabilities	337.1		362.3
Indirect costs allocable to self-constructed real estate assets	0.9		0.9
Accumulated other comprehensive loss	430.9		310.3
Other	21.3		19.2
Gross deferred tax assets	1,023.5		947.0
Deferred tax liabilities:
Investments	(49.6)		(47.9)
Deferred acquisition costs, present value of future profits, and sales inducements	(207.0)		(187.4)

Gross deferred tax liabilities	(256.6)		(235.3)
Net deferred tax assets before valuation allowance	766.9		711.7
Valuation allowance for deferred tax assets	(22.1)		—
Net deferred tax assets	744.8		711.7
Current income taxes prepaid (accrued)	15.0		1.6
Income tax assets, net	$	759.8	$	713.3

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF VIEs (Details) $ in Millions	Sep. 30, 2026 USD ($)
Amortized cost
Due after one year through five years	$ 2,468.3
Due after five years through ten years	3,600.4
Subtotal	19,126.3
Estimated fair value
Due after one year through five years	2,413.3
Due after five years through ten years	3,412.0
Subtotal	16,158.6
Variable Interest Entity, Primary Beneficiary
Amortized cost
Due after one year through five years	155.3
Due after five years through ten years	156.1
Subtotal	311.4
Estimated fair value
Due after one year through five years	152.4
Due after five years through ten years	155.4
Subtotal	$ 307.8

BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2026	Dec. 31, 2025	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Goodwill			$ 69.5		$ 69.5
Intangible assets			27.2		27.2
Goodwill and other asset impairment	$ 0.0	$ 5.2	$ 96.7	$ 0.0	$ 96.7

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

+ Details

INVESTMENTS - SCHEDULE OF TOTAL INVESTMENT GAINS (LOSSES) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Realized investment gains (losses):
Total realized investment losses	$ (32.6)	$ (12.9)	$ (49.0)	$ (38.0)
Change in allowance for credit losses and write-downs	(16.3)	8.0	(29.4)	(2.6)
Change in fair value of equity securities	(5.4)	1.4	(9.3)	3.5
Other changes in fair value	(10.4)	0.5	(14.4)	8.9
Other investment gains (losses)	(32.1)	9.9	(53.1)	9.8
Total investment losses	(64.7)	(3.0)	(102.1)	(28.2)
Increase (decrease) in equity securities, FV-NI, held at end of period	(5.2)	1.7	(9.3)	5.9
Change in estimated fair value of trading securities	(8.2)	3.0	(11.4)	10.1
Embedded Derivative Related to Fixed Maturity Securities
Realized investment gains (losses):
Decrease in fair value of certain fixed maturity investments with embedded derivatives	(8.2)	0.0	(11.6)	7.1
Reinsurance Contract \| Coinsurance
Realized investment gains (losses):
Decrease in fair value of certain fixed maturity investments with embedded derivatives	(2.2)	0.5	(2.8)	1.8
Total fixed maturities, available for sale
Realized investment gains (losses):
Gross realized gains on sales of fixed maturities, available for sale	5.3	1.9	80.0	4.8
Gross realized losses on sales of fixed maturities, available for sale	(34.4)	(18.1)	(123.6)	(42.7)
Equity securities, net	0.1	0.7	(0.2)	0.2
Other, net	$ (3.6)	$ 2.6	$ (5.2)	$ (0.3)

BUSINESS SEGMENTS

9 Months Ended

Sep. 30, 2026

Segment Reporting [Abstract]

BUSINESS SEGMENTS

We view our operations as three insurance product line segments (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 the chief operating decision maker ("CODM") makes operating decisions and assesses the performance of the business. Our CODM is the Chief Executive Officer.

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; (ii) interest credited to policyholders; (iii) amortization of deferred acquisition costs and present value of future profits; (iv) non-deferred commissions; and (v) advertising expense. Net investment income is allocated to the product lines using the book yield of investments backing the block of business, which is applied to the average insurance liabilities, net of insurance intangibles, for the block in each period. Net insurance liabilities for the purpose of allocating investment income to product lines are equal to: (i) policyholder account values for interest sensitive 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 product 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 provides an additional 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 insurance benefits, including supplemental health and life insurance products in the workplace for businesses, associations, and other membership groups, interacting with customers at their place of employment and virtually.

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 Bankers Life and Casualty Company ("Bankers Life") funding agreement backed notes ("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 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 (primarily Medicare Advantage), services provided to employers through our Worksite Division and the operations of our broker-dealer and registered investment advisor. In November 2025, we announced our intention to exit the fee services business within our Worksite Division to sharpen our focus on the core insurance business. As a result, beginning in the fourth quarter of 2025, the net results of this business are no longer presented within the fee income segment, but are presented within net loss related to divested business as a reconciling item to net income. The exit of the fee services business was substantially complete as of June 30, 2026.

Our CODM allocates resources and assesses the performance of each operating segment based on the respective

product line insurance margin, investment income not allocated, and fee income metrics described above.

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, costs related to our project to modernize certain elements of our technology ("TechMod") that are incremental to our normal spend and will not recur following implementation, goodwill and other asset impairment expenses and other non-operating items including 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, costs related to our TechMod initiative incremental to our normal spend that will not recur following implementation 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				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Revenues:
Annuity:
Insurance policy income	$	9.7	$	10.7	$	28.6	$	28.9
Net investment income	168.0		157.7		492.9		461.0
Total annuity revenues	177.7		168.4		521.5		489.9
Health:
Insurance policy income	444.0		416.0		1,312.4		1,240.5
Net investment income	76.1		75.4		226.4		226.4
Total health revenues	520.1		491.4		1,538.8		1,466.9
Life:
Insurance policy income	234.5		231.7		701.3		691.0
Net investment income	38.5		37.8		114.9		113.2
Total life revenues	273.0		269.5		816.2		804.2
Change in market values of the underlying options supporting fixed indexed products	1.1		98.2		98.4		107.5
Investment income not allocated to product lines	158.9		126.0		428.9		368.0
Fee revenue and other income:
Fee revenue	14.4		33.0		75.7		113.9
Amounts netted in expenses not allocated to product lines	0.7		0.6		2.5		2.8
Total segment revenues	$	1,145.9	$	1,187.1	$	3,482.0	$	3,353.2

(continued on next page)


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Expenses:
Annuity:
Insurance policy benefits	$	(19.8)	$	(6.2)	$	0.8	$	14.1
Interest credited	79.5		75.4		227.0		217.1
Amortization and non-deferred commissions	30.1		26.3		86.7		76.5
Total annuity expenses	89.8		95.5		314.5		307.7
Health:
Insurance policy benefits	327.5		293.3		981.0		926.9
Amortization and non-deferred commissions	43.5		41.1		128.9		122.8
Total health expenses	371.0		334.4		1,109.9		1,049.7
Life:
Insurance policy benefits	116.5		142.6		399.2		425.2
Interest credited	14.0		13.2		41.9		40.0
Amortization and non-deferred commissions	30.9		28.3		90.7		81.9
Advertising expense	15.6		14.8		51.4		54.7
Total life expenses	177.0		198.9		583.2		601.8
Allocated expenses	161.0		151.0		473.8		461.6
Expenses not allocated to product lines	19.5		22.9		64.0		70.7
Market value changes of options credited to fixed indexed annuity and life policyholders	1.1		98.2		98.4		107.5
Amounts netted in investment income not allocated to product lines:
Interest expense	54.3		50.8		152.6		158.3
Interest credited	39.5		28.2		111.5		82.2
Impact of annual option forfeitures related to fixed indexed annuity surrenders	(4.9)		(3.8)		(14.5)		(8.8)
Amortization	1.1		0.9		3.4		2.5
Other expenses	0.8		10.4		16.7		22.5
Expenses netted in fee revenue:
Commissions and other operating expenses	15.5		36.9		67.4		117.8
Total segment expenses	925.7		1,024.3		2,980.9		2,973.5
Pre-tax measure of profitability:
Annuity margin	87.9		72.9		207.0		182.2
Health margin	149.1		157.0		428.9		417.2
Life margin	96.0		70.6		233.0		202.4
Total insurance product margin	333.0		300.5		868.9		801.8
Allocated expenses	(161.0)		(151.0)		(473.8)		(461.6)
Income from insurance products	172.0		149.5		395.1		340.2
Fee income margin	(1.1)		(3.9)		8.3		(3.9)
Investment income not allocated to product lines	68.1		39.5		159.2		111.3
Expenses not allocated to product lines	(18.8)		(22.3)		(61.5)		(67.9)
Operating earnings before taxes	220.2		162.8		501.1		379.7
Income tax expense on operating income	41.1		35.6		101.2		83.9
Net operating income	$	179.1	$	127.2	$	399.9	$	295.8

A reconciliation of segment revenues and expenses to consolidated revenues and expenses and net income is as follows (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Total segment revenues	$	1,145.9	$	1,187.1	$	3,482.0	$	3,353.2
Total investment losses	(64.7)		(3.0)		(102.1)		(28.2)
Revenues related to earnings attributable to VIEs	4.8		4.6		12.4		19.3
Fee revenue related to divested business	—		—		8.5		—
Consolidated revenues	1,086.0		1,188.7		3,400.8		3,344.3

Total segment expenses	925.7		1,024.3		2,980.9		2,973.5
Changes in fair value of embedded derivative liabilities and market risk benefits	(69.7)		18.1		(61.9)		62.5
Expenses attributable to VIEs	4.0		6.1		12.8		20.6
Fair value changes related to agent deferred compensation plan	(10.0)		—		(10.0)		—
Expenses related to TechMod initiative	10.1		7.2		33.5		10.4
Goodwill and other asset impairment	—		96.7		—		96.7
Expenses related to divested business	—		—		11.5		—
Other expenses	(0.5)		0.1		(0.5)		(1.4)
Consolidated expenses	859.6		1,152.5		2,966.3		3,162.3
Income before tax	226.4		36.2		434.5		182.0

Income tax expense	65.3		13.1		109.8		45.6

Net income	$	161.1	$	23.1	$	324.7	$	136.4

Segment balance sheet information is as follows (dollars in millions):


	September 30,		December 31,
	2026		2025
Assets:
Annuity	$	13,946.5	$	13,692.5
Health	8,429.5		9,367.1
Life	4,044.6		4,331.3
Investments not allocated to product lines	12,386.9		10,879.8
Assets of our non-life companies included in the fee income segment	95.5		161.0
Assets of our other non-life companies	403.7		358.9
Total assets	$	39,306.7	$	38,790.6
Liabilities:
Annuity	$	14,983.8	$	14,445.0
Health	8,917.2		9,573.7
Life	4,306.8		4,448.9
Liabilities associated with investments not allocated to product lines (a)	8,503.1		7,425.3
Liabilities of our non-life companies included in the fee income segment	16.8		50.5
Liabilities of our other non-life companies	255.3		209.0
Total liabilities	$	36,983.0	$	36,152.4

________________

(a) Includes investment borrowings, policyholder account balances related to funding agreements, borrowings related to VIEs and notes payable - direct corporate obligations.

- Definition

The entire disclosure for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INVESTMENTS - SCHEDULE OF AMORTIZED COST, GROSS UNREALIZED GAINS AND LOSSES, ESTIMATED FAIR VALUE, AND ALLOWANCE FOR CREDIT LOSSES (Details) - USD ($) $ in Millions	Sep. 30, 2026	Jun. 30, 2026	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 26,961.7
Allowance for credit losses	(56.9)	$ (41.5)	$ (36.0)	$ (33.0)	$ (39.1)	$ (37.1)
Estimated fair value	23,677.6		23,886.8
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	15,557.6		14,568.8
Gross unrealized gains	9.7		137.1
Gross unrealized losses	(2,274.8)		(1,413.2)
Allowance for credit losses	(50.1)	$ (35.3)	(30.2)	$ (27.5)	$ (33.1)	$ (31.1)
Estimated fair value	13,242.4		13,262.5
United States Treasury securities and obligations of United States government corporations and agencies
Debt Securities, Available-for-sale [Line Items]
Amortized cost	214.3		207.2
Gross unrealized gains	0.0		0.1
Gross unrealized losses	(50.0)		(30.2)
Allowance for credit losses	0.0		0.0
Estimated fair value	164.3		177.1
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized cost	3,209.8		3,311.4
Gross unrealized gains	2.3		25.1
Gross unrealized losses	(580.4)		(378.9)
Allowance for credit losses	(3.1)		(2.9)
Estimated fair value	2,628.6		2,954.7
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	144.6		130.9
Gross unrealized gains	0.0		0.9
Gross unrealized losses	(20.2)		(10.7)
Allowance for credit losses	(1.1)		(0.6)
Estimated fair value	123.3		120.5
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	2,097.5		1,780.8
Gross unrealized gains	1.1		14.0
Gross unrealized losses	(85.9)		(47.4)
Allowance for credit losses	(0.1)		(0.1)
Estimated fair value	2,012.6		1,747.3
Agency residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	639.1		838.3
Gross unrealized gains	0.8		11.4
Gross unrealized losses	(14.4)		(0.2)
Allowance for credit losses	0.0		0.0
Estimated fair value	625.5		849.5
Non-agency residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,327.4		1,639.1
Gross unrealized gains	19.2		37.5
Gross unrealized losses	(107.0)		(90.9)
Allowance for credit losses	0.0		0.0
Estimated fair value	1,239.6		1,585.7
Collateralized loan obligations
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,609.9		1,142.4
Gross unrealized gains	2.0		2.8
Gross unrealized losses	(2.6)		(2.7)
Allowance for credit losses	0.0		0.0
Estimated fair value	1,609.3		1,142.5
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	2,161.5		2,157.5
Gross unrealized gains	0.9		6.4
Gross unrealized losses	(127.9)		(114.7)
Allowance for credit losses	(2.5)		(2.2)
Estimated fair value	2,032.0		2,047.0
Total fixed maturities, available for sale
Debt Securities, Available-for-sale [Line Items]
Amortized cost	26,961.7		25,776.4
Gross unrealized gains	36.0		235.3
Gross unrealized losses	(3,263.2)		(2,088.9)
Allowance for credit losses	(56.9)		(36.0)
Estimated fair value	$ 23,677.6		$ 23,886.8

FAIR VALUE MEASUREMENTS - SCHEDULE OF FAIR VALUE INPUTS (Details) $ in Millions	Sep. 30, 2026 USD ($)	Dec. 31, 2025 USD ($)	Sep. 30, 2025 USD ($)
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities	$ 328.0	$ 389.2
Market risk benefit liability	21.9	48.1	$ 52.6
Embedded derivatives related to fixed indexed annuity products	1,578.7	1,600.6
Total liabilities carried at fair value	1,600.6	1,648.7
Significant unobservable inputs (Level 3)
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets carried at fair value by category	73.8	76.1
Market risk benefit liability	21.9	48.1
Embedded derivatives related to fixed indexed annuity products	1,578.7	1,600.6
Total liabilities carried at fair value	1,600.6	$ 1,648.7
Significant unobservable inputs (Level 3) \| Recovery method \| % Recovery expected \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, fixed maturities		0.5000
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market risk benefit liability	$ 21.9	$ 48.1
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, liability measurement input	0.0049	0.0046
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, liability measurement input	0.1890	0.1768
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, liability measurement input	0.0486	0.0344
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| Partial withdrawal rates \| Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.0000	0.0000
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| Partial withdrawal rates \| Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.0311	0.0300
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| Partial withdrawal rates \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.0187	0.0096
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| Mortality \| Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.0020	0.0003
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| Mortality \| Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.4781	0.3975
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| Mortality \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.0361	0.0363
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| GLWB utilization \| Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.0592	0.0592
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| GLWB utilization \| Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.4762	0.4762
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| GLWB utilization \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.2503	0.2507
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| Non-performance risk spread \| Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.0008	0.0009
Significant unobservable inputs (Level 3) \| Discounted cash flow analysis \| Non-performance risk spread \| Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, market risk benefit, liability measurement input	0.0036	0.0031
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	$ 1,578.7	$ 1,600.6
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	0.0049	0.0046
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	0.2368	0.2336
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	0.0665	0.0611
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Partial withdrawal rates \| Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0000	0.0000
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Partial withdrawal rates \| Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0441	0.0450
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Partial withdrawal rates \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0331	0.0278
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Mortality \| Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0002	0.0003
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Mortality \| Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.4781	0.3975
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Mortality \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0405	0.0405
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| GLWB utilization \| Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0592	0.0592
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| GLWB utilization \| Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.4762	0.4762
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| GLWB utilization \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.2503	0.2507
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Non-performance risk spread \| Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0008	0.0009
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Non-performance risk spread \| Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0036	0.0031
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Option budget \| Minimum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0091	0.0090
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Option budget \| Maximum
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0345	0.0338
Significant unobservable inputs (Level 3) \| Discounted projected embedded derivatives \| Option budget \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, liabilities	0.0256	0.0264
Significant unobservable inputs (Level 3) \| Corporate securities
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities	$ 73.0	$ 73.7
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	$ 0.0	0.5
Significant unobservable inputs (Level 3) \| Corporate securities \| Recovery method \| % Recovery expected
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, fixed maturities	0
Significant unobservable inputs (Level 3) \| Asset-backed securities \| Recovery method
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed maturities, available for sale	$ 3.2	$ 3.5
Significant unobservable inputs (Level 3) \| Asset-backed securities \| Recovery method \| % Recovery expected \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, equity securities	0.5677	0.6124
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	$ 6.8	$ 7.6
Significant unobservable inputs (Level 3) \| Asset-backed securities \| Discounted cash flow analysis \| Discount margins \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, fixed maturities	0.0147	0.0161
Significant unobservable inputs (Level 3) \| Equity Securities \| Market comparables
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities	$ 63.8	$ 64.5
Significant unobservable inputs (Level 3) \| Equity Securities \| Market comparables \| EBITDA multiples \| Weighted Average
Fair Value, Assets on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable inputs, equity securities	12.3	10.9

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 161.1	$ 23.1	$ 324.7	$ 136.4
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on investments	(1,218.2)	350.0	(1,441.8)	568.0
Adjustment to discount rate for liability for future policy benefits	720.4	(188.7)	823.1	(283.8)
Adjustment to instrument-specific credit risk for market risk benefits	(0.1)	(1.2)	(0.2)	(0.6)
Reclassification adjustments:
For net realized investment losses included in net income	34.7	11.1	67.9	38.8
Other comprehensive income (loss) before tax	(463.2)	171.2	(551.0)	322.4
Income tax benefit (expense) related to items of accumulated other comprehensive income	100.2	(37.4)	120.2	(69.9)
Other comprehensive income (loss), net of tax	(363.0)	133.8	(430.8)	252.5
Comprehensive income (loss)	$ (201.9)	$ 156.9	$ (106.1)	$ 388.9

INVESTMENTS - NARRATIVE (Details) $ in Millions	3 Months Ended		9 Months Ended
INVESTMENTS - NARRATIVE (Details) $ in Millions	Sep. 30, 2026 USD ($)	Sep. 30, 2025 USD ($)	Sep. 30, 2026 USD ($) mortgage_loan loan	Sep. 30, 2025 USD ($)
Debt Securities, Available-for-sale [Line Items]
Value of available for sale securities sold	$ 1,324.7	$ 349.1	$ 4,118.1	$ 874.2
Amortized cost of fixed maturities that were non-income producing	5.7		5.7
Carrying value of fixed maturities that were non-income producing	3.2		3.2
Total fixed maturities, available for sale
Debt Securities, Available-for-sale [Line Items]
Gross realized losses on sales of fixed maturities, available for sale	(34.4)	$ (18.1)	$ (123.6)	$ (42.7)
Financial Asset, Past Due
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans noncurrent \| loan			34
Commercial Portfolio Segment
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans in process of foreclosure \| mortgage_loan			0
Carrying value of loans	1,883.8		$ 1,883.8
Residential Portfolio Segment
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans noncurrent \| mortgage_loan			0
Residential Portfolio Segment \| Financial Asset, Past Due
Debt Securities, Available-for-sale [Line Items]
Carrying value of loans	25.0		$ 25.0
Residential Portfolio Segment \| Financial Asset, Past Due \| Foreclosure
Debt Securities, Available-for-sale [Line Items]
Number of mortgage loans noncurrent \| loan			9
Carrying value of loans	4.5		$ 4.5
Total carrying amount \| Residential Mortgage
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	1,570.6		1,570.6
Total carrying amount \| Commercial Portfolio Segment \| Commercial Mortgage
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	1,883.8		1,883.8
Total estimated fair value \| Residential Mortgage
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	1,575.8		1,575.8
Total estimated fair value \| Commercial Portfolio Segment \| Commercial Mortgage
Debt Securities, Available-for-sale [Line Items]
Mortgage loans	$ 1,714.7		$ 1,714.7

THIRD-PARTY REINSURANCE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
THIRD-PARTY REINSURANCE (Details) - USD ($) $ in Millions	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Insurance [Abstract]
Ceded premiums written	$ 37.9	$ 41.0	$ 114.3	$ 125.3
Reinsurance recoveries benefits	93.0	98.8	269.8	277.4
Assumed premiums written	3.1	3.4	9.7	10.7
Insurance policy benefits related to reinsurance assumed	$ 6.5	$ 5.9	$ 20.9	$ 17.2

INVESTMENTS - SCHEDULE OF CHANGES IN THE ALLOWANCE FOR CURRENT EXPECTED CREDIT LOSSES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	$ 41.5	$ 39.1	$ 36.0	$ 37.1
Additions for securities for which credit losses were not previously recorded	8.8	0.4	22.1	3.5
Additions for securities where an allowance was previously recorded	7.8	(5.1)	6.6	(4.2)
Reductions for securities disposed during the period	(1.2)	(1.4)	(7.8)	(3.4)
Allowance at the end of the period	56.9	33.0	56.9	33.0
Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	35.3	33.1	30.2	31.1
Additions for securities for which credit losses were not previously recorded	8.6	0.4	21.7	3.5
Additions for securities where an allowance was previously recorded	7.3	(4.6)	5.9	(3.7)
Reductions for securities disposed during the period	(1.1)	(1.4)	(7.7)	(3.4)
Allowance at the end of the period	50.1	27.5	50.1	27.5
Other
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance at the beginning of the period	6.2	6.0	5.8	6.0
Additions for securities for which credit losses were not previously recorded	0.2	0.0	0.4	0.0
Additions for securities where an allowance was previously recorded	0.5	(0.5)	0.7	(0.5)
Reductions for securities disposed during the period	(0.1)	0.0	(0.1)	0.0
Allowance at the end of the period	$ 6.8	$ 5.5	$ 6.8	$ 5.5

BUSINESS SEGMENTS - SCHEDULE OF RECONCILIATION OF OPERATING PROFIT (LOSS) FROM SEGMENTS TO CONSOLIDATED (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2026	Dec. 31, 2025	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Segment Reporting [Line Items]
Total segment revenues	$ 1,145.9		$ 1,187.1	$ 3,482.0	$ 3,353.2
Total investment losses	(32.6)		(12.9)	(49.0)	(38.0)
Total revenues	1,086.0		1,188.7	3,400.8	3,344.3
Total segment expenses	925.7		1,024.3	2,980.9	2,973.5
Goodwill and other asset impairment	0.0	$ 5.2	96.7	0.0	96.7
Total benefits and expenses	859.6		1,152.5	2,966.3	3,162.3
Income before tax	226.4		36.2	434.5	182.0
Income tax expense	65.3		13.1	109.8	45.6
Net income	161.1		23.1	324.7	136.4
Operating Segments
Segment Reporting [Line Items]
Total segment revenues	1,145.9		1,187.1	3,482.0	3,353.2
Total segment expenses	925.7		1,024.3	2,980.9	2,973.5
Segment Reconciling Items
Segment Reporting [Line Items]
Total investment losses	(64.7)		(3.0)	(102.1)	(28.2)
Revenues related to earnings attributable to VIEs	4.8		4.6	12.4	19.3
Fee revenue related to divested business	0.0		0.0	8.5	0.0
Changes in fair value of embedded derivative liabilities and market risk benefits	(69.7)		18.1	(61.9)	62.5
Expenses attributable to VIEs	4.0		6.1	12.8	20.6
Fair value changes related to agent deferred compensation plan	(10.0)		0.0	(10.0)	0.0
Expenses related to TechMod initiative	10.1		7.2	33.5	10.4
Goodwill and other asset impairment	0.0		96.7	0.0	96.7
Expenses related to divested business	0.0		0.0	11.5	0.0
Other expenses	$ (0.5)		$ 0.1	$ (0.5)	$ (1.4)

BUSINESS SEGMENTS - SCHEDULE OF BALANCE SHEET INFORMATION, BY SEGMENT (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Segment Reporting [Line Items]
Total assets	$ 39,306.7	$ 38,790.6
Total liabilities	36,983.0	36,152.4
Investment income not allocated to product lines
Segment Reporting [Line Items]
Total assets	12,386.9	10,879.8
Total liabilities	8,503.1	7,425.3
Non-life companies included in the fee income segment
Segment Reporting [Line Items]
Total assets	95.5	161.0
Total liabilities	16.8	50.5
Other non-life companies
Segment Reporting [Line Items]
Total assets	403.7	358.9
Total liabilities	255.3	209.0
Annuity \| Insurance Product Lines
Segment Reporting [Line Items]
Total assets	13,946.5	13,692.5
Total liabilities	14,983.8	14,445.0
Health \| Insurance Product Lines
Segment Reporting [Line Items]
Total assets	8,429.5	9,367.1
Total liabilities	8,917.2	9,573.7
Life \| Insurance Product Lines
Segment Reporting [Line Items]
Total assets	4,044.6	4,331.3
Total liabilities	$ 4,306.8	$ 4,448.9

NOTES PAYABLE – DIRECT CORPORATE OBLIGATIONS - NARRATIVE (Details) - USD ($)	May 08, 2025	Sep. 30, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Notes payable – direct corporate obligations		$ 1,336,700,000	$ 1,335,600,000
Credit Agreement \| Revolving Credit Agreement
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 250,000,000.0
Total capitalization percentage	15.00%
Revolving Credit Facility \| Revolving Credit Agreement
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 200,000,000
Debt covenant, required minimum debt to total capitalization ratio	35.00%
Debt covenant, actual debt to total capitalization ratio at period end		23.30%
Debt covenant, minimum required consolidated net worth, component one, amount	$ 2,674,000,000	$ 2,676,300,000
Debt covenant, minimum required consolidated net worth, component two, as a percent of net equity proceeds received from issuance and sale of equity interests	25.00%
Debt covenant, actual consolidated net worth at period end		3,869,500,000
Notes payable – direct corporate obligations		$ 0
Revolving Credit Facility \| Revolving Credit Agreement \| Minimum \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Revolving Credit Facility \| Revolving Credit Agreement \| Minimum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.125%
Revolving Credit Facility \| Revolving Credit Agreement \| Maximum \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Revolving Credit Facility \| Revolving Credit Agreement \| Maximum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.75%

FAIR VALUE MEASUREMENTS - SCHEDULE OF MEASUREMENTS BY INPUT LEVEL (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025	Sep. 30, 2025
Assets:
Total fixed maturities, available for sale	$ 23,677.6	$ 23,886.8
Equity securities	328.0	389.2
Total trading securities	234.0	294.8
Investments held by variable interest entities - corporate securities	307.8	293.0
Assets held in separate accounts	2.9	2.8
Total assets carried at fair value	24,825.1	25,194.3
Liabilities:
Market risk benefit liability	21.9	48.1	$ 52.6
Embedded derivatives associated with fixed indexed annuity products	1,578.7	1,600.6
Total liabilities carried at fair value	1,600.6	1,648.7
Corporate securities
Assets:
Total fixed maturities, available for sale	13,242.4	13,262.5
United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Total fixed maturities, available for sale	164.3	177.1
States and political subdivisions
Assets:
Total fixed maturities, available for sale	2,628.6	2,954.7
Foreign governments
Assets:
Total fixed maturities, available for sale	123.3	120.5
Asset-backed securities
Assets:
Total fixed maturities, available for sale	2,012.6	1,747.3
Agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	625.5	849.5
Non-agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	1,239.6	1,585.7
Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	1,609.3	1,142.5
Commercial mortgage-backed securities
Assets:
Total fixed maturities, available for sale	2,032.0	2,047.0
Total
Assets:
Total trading securities	234.0	294.8
Investments held by variable interest entities - corporate securities	307.8	293.0
Derivatives	270.2	323.5
Residual tranches	4.6	4.2
Total other invested assets	274.8	327.7
Assets held in separate accounts	2.9	2.8
Total assets carried at fair value	24,807.3	25,172.3
Total \| Corporate securities
Assets:
Total fixed maturities, available for sale	13,242.4	13,262.5
Equity securities	310.2	367.2
Total \| United States Treasury securities and obligations of United States government corporations and agencies
Assets:
Total fixed maturities, available for sale	164.3	177.1
Total \| States and political subdivisions
Assets:
Total fixed maturities, available for sale	2,628.6	2,954.7
Total \| Foreign governments
Assets:
Total fixed maturities, available for sale	123.3	120.5
Total \| Asset-backed securities
Assets:
Total fixed maturities, available for sale	2,012.6	1,747.3
Total trading securities	31.2	38.7
Total \| Agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	625.5	849.5
Total trading securities	65.7	97.5
Total \| Non-agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	1,239.6	1,585.7
Total trading securities	31.2	44.2
Total \| Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	1,609.3	1,142.5
Total trading securities	8.6	9.7
Total \| Commercial mortgage-backed securities
Assets:
Total fixed maturities, available for sale	2,032.0	2,047.0
Total trading securities	97.3	104.7
Total \| Total fixed maturities, available for sale
Assets:
Total fixed maturities, available for sale	23,677.6	23,886.8
Quoted prices in active markets for identical assets or liabilities (Level 1)
Assets:
Total trading securities	0.0	0.0
Investments held by variable interest entities - corporate securities	0.0	0.0
Derivatives	0.0	0.0
Residual tranches	0.0	0.0
Total other invested assets	0.0	0.0
Assets held in separate accounts	0.0	0.0
Total assets carried at fair value	170.1	176.5
Liabilities:
Market risk benefit liability	0.0	0.0
Embedded derivatives associated with fixed indexed annuity products	0.0	0.0
Total liabilities carried at fair value	0.0	0.0
Quoted prices in active markets for identical assets or liabilities (Level 1) \| Corporate securities
Assets:
Total fixed maturities, available for sale	0.0	0.0
Equity securities	170.1	176.5
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	0.0
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	0.0
Quoted prices in active markets for identical assets or liabilities (Level 1) \| Foreign governments
Assets:
Total fixed maturities, available for sale	0.0	0.0
Quoted prices in active markets for identical assets or liabilities (Level 1) \| Asset-backed securities
Assets:
Total fixed maturities, available for sale	0.0	0.0
Total trading securities	0.0	0.0
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	0.0
Total trading securities	0.0	0.0
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	0.0
Total trading securities	0.0	0.0
Quoted prices in active markets for identical assets or liabilities (Level 1) \| Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	0.0	0.0
Total trading securities	0.0	0.0
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	0.0
Total trading securities	0.0	0.0
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	0.0
Significant other observable inputs (Level 2)
Assets:
Total trading securities	234.0	294.8
Investments held by variable interest entities - corporate securities	307.8	293.0
Derivatives	270.2	323.5
Residual tranches	0.0	0.0
Total other invested assets	270.2	323.5
Assets held in separate accounts	2.9	2.8
Total assets carried at fair value	24,112.3	24,746.1
Liabilities:
Market risk benefit liability	0.0	0.0
Embedded derivatives associated with fixed indexed annuity products	0.0	0.0
Total liabilities carried at fair value	0.0	0.0
Significant other observable inputs (Level 2) \| Corporate securities
Assets:
Total fixed maturities, available for sale	12,892.7	13,130.7
Equity securities	67.1	117.0
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	164.3	177.1
Significant other observable inputs (Level 2) \| States and political subdivisions
Assets:
Total fixed maturities, available for sale	2,628.6	2,954.7
Significant other observable inputs (Level 2) \| Foreign governments
Assets:
Total fixed maturities, available for sale	123.3	120.5
Significant other observable inputs (Level 2) \| Asset-backed securities
Assets:
Total fixed maturities, available for sale	1,945.2	1,710.8
Total trading securities	31.2	38.7
Significant other observable inputs (Level 2) \| Agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	625.5	849.5
Total trading securities	65.7	97.5
Significant other observable inputs (Level 2) \| Non-agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	1,212.6	1,585.7
Total trading securities	31.2	44.2
Significant other observable inputs (Level 2) \| Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	1,609.3	1,142.5
Total trading securities	8.6	9.7
Significant other observable inputs (Level 2) \| Commercial mortgage-backed securities
Assets:
Total fixed maturities, available for sale	2,028.8	2,043.5
Total trading securities	97.3	104.7
Significant other observable inputs (Level 2) \| Total fixed maturities, available for sale
Assets:
Total fixed maturities, available for sale	23,230.3	23,715.0
Significant unobservable inputs (Level 3)
Assets:
Total trading securities	0.0	0.0
Investments held by variable interest entities - corporate securities	0.0	0.0
Derivatives	0.0	0.0
Residual tranches	4.6	4.2
Total other invested assets	4.6	4.2
Assets held in separate accounts	0.0	0.0
Total assets carried at fair value	524.9	249.7
Liabilities:
Market risk benefit liability	21.9	48.1
Embedded derivatives associated with fixed indexed annuity products	1,578.7	1,600.6
Total liabilities carried at fair value	1,600.6	1,648.7
Significant unobservable inputs (Level 3) \| Corporate securities
Assets:
Total fixed maturities, available for sale	349.7	131.8
Equity securities	73.0	73.7
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	0.0
Significant unobservable inputs (Level 3) \| States and political subdivisions
Assets:
Total fixed maturities, available for sale	0.0	0.0
Significant unobservable inputs (Level 3) \| Foreign governments
Assets:
Total fixed maturities, available for sale	0.0	0.0
Significant unobservable inputs (Level 3) \| Asset-backed securities
Assets:
Total fixed maturities, available for sale	67.4	36.5
Total trading securities	0.0	0.0
Significant unobservable inputs (Level 3) \| Agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	0.0	0.0
Total trading securities	0.0	0.0
Significant unobservable inputs (Level 3) \| Non-agency residential mortgage-backed securities
Assets:
Total fixed maturities, available for sale	27.0	0.0
Total trading securities	0.0	0.0
Significant unobservable inputs (Level 3) \| Collateralized loan obligations
Assets:
Total fixed maturities, available for sale	0.0	0.0
Total trading securities	0.0	0.0
Significant unobservable inputs (Level 3) \| Commercial mortgage-backed securities
Assets:
Total fixed maturities, available for sale	3.2	3.5
Total trading securities	0.0	0.0
Significant unobservable inputs (Level 3) \| Total fixed maturities, available for sale
Assets:
Total fixed maturities, available for sale	447.3	171.8
Fair Value Measured at Net Asset Value Per Share
Assets:
Equity securities	$ 17.8	$ 22.0

LIABILITIES FOR INSURANCE PRODUCTS - SCHEDULE OF CHANGES IN MARKET RISK BENEFITS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025
Market Risk Benefit [Roll Forward]
Net liability, beginning of period	$ 48.1	$ 60.0
Effect of changes in the instrument-specific credit risk, beginning of period	0.9	1.4
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	49.0	61.4
Issuances	2.6	3.4
Interest accrual	1.2	2.0
Effect of changes in interest rates	(7.6)	0.9
Effect of changes in equity markets	(2.8)	(0.3)
Effect of changes in equity index volatility	1.1	2.2
Actual policyholder behavior different from expected behavior	(1.0)	(0.6)
Effect of changes in future expected policyholder behavior - other	(20.3)	(13.3)
Effect of changes in future expected policyholder behavior - risk margin	(0.1)	0.1
Effect of changes in assumptions	0.5	(2.4)
Net liability, end of period, before effect of changes in the instrument-specific credit risk	22.6	53.4
Effect of changes in the instrument-specific credit risk, end of period	(0.7)	(0.8)
Net liability, end of period, net of reinsurance	21.9	52.6
Net liability (asset), end of period	21.9	52.6
Balance reported as an asset	0.0	0.0
Balance reported as a liability	21.9	52.6	$ 48.1
Net liability	21.9	52.6	$ 48.1
Net amount at risk	$ 13.0	$ 22.1
Weighted average attained age of contract holders	70 years	70 years

INVESTMENTS - SCHEDULE OF CARRYING VALUE AND ESTIMATED FAIR VALUE OF OUTSTANDING COMMERCIAL MORTGAGE LOANS AND UNDERLYING COLLATERAL (Details) $ in Millions	Sep. 30, 2026 USD ($)
Less than 60% \| Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	60.00%
60% to less than 70% \| Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	70.00%
60% to less than 70% \| Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	60.00%
70% to less than 80% \| Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	80.00%
70% to less than 80% \| Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	70.00%
80% to less than 90% \| Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	90.00%
80% to less than 90% \| Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	80.00%
90% to less than 100% \| Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	100.00%
90% to less than 100% \| Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Loan to value ratio	90.00%
Commercial Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
2026	$ 302.6
2025	404.0
2024	183.2
2023	217.5
2022	265.4
Prior	511.1
Total amortized cost	1,883.8
Commercial mortgage loans	1,714.7
Collateral	5,306.7
Commercial Portfolio Segment \| Less than 60%
Financing Receivable, Credit Quality Indicator [Line Items]
2026	261.3
2025	248.1
2024	151.9
2023	169.9
2022	138.6
Prior	458.1
Total amortized cost	1,427.9
Commercial mortgage loans	1,299.0
Collateral	4,635.3
Commercial Portfolio Segment \| 60% to less than 70%
Financing Receivable, Credit Quality Indicator [Line Items]
2026	41.3
2025	146.0
2024	16.3
2023	47.6
2022	36.2
Prior	21.4
Total amortized cost	308.8
Commercial mortgage loans	287.9
Collateral	481.1
Commercial Portfolio Segment \| 70% to less than 80%
Financing Receivable, Credit Quality Indicator [Line Items]
2026	0.0
2025	9.9
2024	15.0
2023	0.0
2022	60.7
Prior	22.1
Total amortized cost	107.7
Commercial mortgage loans	95.1
Collateral	143.3
Commercial Portfolio Segment \| 80% to less than 90%
Financing Receivable, Credit Quality Indicator [Line Items]
2026	0.0
2025	0.0
2024	0.0
2023	0.0
2022	29.9
Prior	0.0
Total amortized cost	29.9
Commercial mortgage loans	25.5
Collateral	37.1
Commercial Portfolio Segment \| 90% to less than 100%
Financing Receivable, Credit Quality Indicator [Line Items]
2026	0.0
2025	0.0
2024	0.0
2023	0.0
2022	0.0
Prior	9.5
Total amortized cost	9.5
Commercial mortgage loans	7.2
Collateral	$ 9.9

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2026	Oct. 29, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2026
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		91,349,359
Entity Central Index Key	0001224608
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q3
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

Insider Trading Arrangements

3 Months Ended

Sep. 30, 2026

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

During the three months ended September 30, 2026, one of the officers (as defined in Rule 16a-1(f) of the Exchange Act) (each, a "Section 16 officer") 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 (b)

Scott L. Goldberg

September 4, 2026

December 31, 2027

32,558

President, Consumer Division

________________

(a) Trading arrangement will terminate on the earlier of the date (i) stated in this column, (ii) on which the aggregate

number of shares has been sold, or (iii) on which the individual gives the designated agent notice to terminate.

(b) Aggregate shares to be sold will be subject to reduction of certain shares surrendered to satisfy required tax

withholding obligations upon future vesting events.

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Scott L. Goldberg [Member]

Trading Arrangements, by Individual

Name

Scott L. Goldberg

Title

President, Consumer Division

Rule 10b5-1 Arrangement Adopted

true

September 4, 2026

December 31, 2027

483 days

32,558

DERIVATIVES - SCHEDULE OF DERIVATIVES WITH MASTER NETTING ARRANGEMENTS (Details) - Fixed indexed call options - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Derivative [Line Items]
Gross amounts recognized	$ 270.2	$ 323.5
Gross amounts offset in the balance sheet	0.0	0.0
Net amounts of assets presented in the balance sheet	270.2	323.5
Non-cash collateral	30.5	43.5
Cash collateral received	0.0	0.0
Net amount	$ 239.7	$ 280.0

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

- Definition

Amount of obligation to return cash collateral under master netting arrangements that have not been offset against derivative assets.

+ References + Details

DERIVATIVES - SCHEDULE OF FAIR VALUE BY BALANCE SHEET LOCATION (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Fixed indexed call options
Derivatives, Fair Value [Line Items]
Fixed indexed call options	$ 270.2	$ 323.5
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total assets	252.1	308.2
Not Designated as Hedging Instrument \| Fixed indexed call options \| Balance Sheet Location [Axis]: us-gaap:OtherInvestments
Derivatives, Fair Value [Line Items]
Fixed indexed call options	270.2	323.5
Not Designated as Hedging Instrument \| Reinsurance receivables \| Balance Sheet Location [Axis]: us-gaap:ReinsuranceRecoverablesOnPaidLosses
Derivatives, Fair Value [Line Items]
Reinsurance receivables	(18.1)	(15.3)
Not Designated as Hedging Instrument \| Embedded derivatives related to fixed indexed annuities at fair value \| Balance Sheet Location [Axis]: us-gaap:PolicyholderFunds
Derivatives, Fair Value [Line Items]
Policyholder account balances	$ 1,578.7	$ 1,600.6

SHAREHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2026

Equity [Abstract]

SHAREHOLDERS' EQUITY

During the nine months ended September 30, 2026, we repurchased 3.8 million shares of common stock for $180.0 million under our securities repurchase program (including $0.5 million of repurchases settled in the fourth quarter of 2026). The Company had remaining repurchase authority of $240.4 million as of September 30, 2026.

During the nine months ended September 30, 2026, we issued 1.0 million shares of common stock, net of shares withheld to pay tax withholdings, pursuant to employee benefit plans.

During the nine months ended September 30, 2026, dividends declared on common stock totaled $50.4 million ($0.53 per common share). In May 2026, the Company increased its quarterly common stock dividend to $0.18 per share from $0.17 per share.

Accumulated other comprehensive loss, included in shareholders' equity as of September 30, 2026 and December 31, 2025, is comprised of the following (dollars in millions):


	September 30, 2026		December 31, 2025
Net unrealized losses on investments having no allowance for credit losses (a)	$	(1,366.6)	$	(661.6)
Unrealized losses on investments with an allowance for credit losses	(1,862.8)		(1,193.9)
Change in discount rates for liability for future policy benefits	1,244.2		421.1
Change in instrument-specific credit risk for market risk benefits	0.7		0.9
Deferred income tax assets	438.7		318.5
Accumulated other comprehensive loss	$	(1,545.8)	$	(1,115.0)

________________

(a) The amortized cost and fair value of fixed maturity securities, available for sale, for which we have elected the fair value option were $2.7 million and $2.6 million, respectively, as of September 30, 2026. Accordingly, the net unrealized losses associated with these investments are excluded from accumulated other comprehensive loss. The amortized cost and fair value of fixed maturity securities, available for sale, for which we have elected the fair value option were $12.0 million and $13.0 million, respectively, as of December 31, 2025.

- Definition

The entire disclosure for equity.

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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-5

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

+ Details

DERIVATIVES - NARRATIVE (Details) - USD ($) $ in Millions	9 Months Ended
DERIVATIVES - NARRATIVE (Details) - USD ($) $ in Millions	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025
Derivative [Line Items]
Embedded derivative	$ 69.0
Fixed indexed call options
Derivative [Line Items]
Notional amount	4,800.0		$ 4,500.0
Embedded Derivative Related to Fixed Maturity Securities \| Fixed indexed annuities
Derivative [Line Items]
Purchases of fixed maturity securities containing embedded derivatives	159.3	$ 147.6
Sales of fixed maturity securities containing embedded derivatives	$ 309.6	$ 238.0

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2026

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 September 30, 2026 is as follows (dollars in millions):


	Quoted prices in active markets for identical assets or liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Assets:
Fixed maturities, available for sale:
Corporate securities	$	—	$	12,892.7	$	349.7	$	13,242.4

United States Treasury securities and obligations of United States government corporations and agencies	—		164.3		—		164.3
States and political subdivisions	—		2,628.6		—		2,628.6
Foreign governments	—		123.3		—		123.3
Asset-backed securities	—		1,945.2		67.4		2,012.6
Agency residential mortgage-backed securities	—		625.5		—		625.5
Non-agency residential mortgage-backed securities	—		1,212.6		27.0		1,239.6
Collateralized loan obligations	—		1,609.3		—		1,609.3
Commercial mortgage-backed securities	—		2,028.8		3.2		2,032.0
Total fixed maturities, available for sale	—		23,230.3		447.3		23,677.6
Equity securities - corporate securities	170.1		67.1		73.0		310.2
Trading securities:




Asset-backed securities	—		31.2		—		31.2
Agency residential mortgage-backed securities	—		65.7		—		65.7
Non-agency residential mortgage-backed securities	—		31.2		—		31.2
Collateralized loan obligations	—		8.6		—		8.6
Commercial mortgage-backed securities	—		97.3		—		97.3

Total trading securities	—		234.0		—		234.0
Investments held by variable interest entities - corporate securities	—		307.8		—		307.8
Other invested assets:
Derivatives	—		270.2		—		270.2
Residual tranches	—		—		4.6		4.6
Total other invested assets	—		270.2		4.6		274.8

Assets held in separate accounts	—		2.9		—		2.9
Total assets carried at fair value by category	$	170.1	$	24,112.3	$	524.9	$	24,807.3
Equity securities measured at net asset value							17.8
Total assets carried at fair value							$	24,825.1

Liabilities:
Market risk benefit liability	$	—	$	—	$	21.9	$	21.9
Embedded derivatives associated with fixed indexed annuity products	—		—		1,578.7		1,578.7
Total liabilities carried at fair value	$	—	$	—	$	1,600.6	$	1,600.6

The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2025 is as follows (dollars in millions):


	Quoted prices in active markets for identical assets or liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Assets:
Fixed maturities, available for sale:
Corporate securities	$	—	$	13,130.7	$	131.8	$	13,262.5

United States Treasury securities and obligations of United States government corporations and agencies	—		177.1		—		177.1
States and political subdivisions	—		2,954.7		—		2,954.7
Foreign governments	—		120.5		—		120.5
Asset-backed securities	—		1,710.8		36.5		1,747.3
Agency residential mortgage-backed securities	—		849.5		—		849.5
Non-agency residential mortgage-backed securities	—		1,585.7		—		1,585.7
Collateralized loan obligations	—		1,142.5		—		1,142.5
Commercial mortgage-backed securities	—		2,043.5		3.5		2,047.0
Total fixed maturities, available for sale	—		23,715.0		171.8		23,886.8
Equity securities - corporate securities	176.5		117.0		73.7		367.2
Trading securities:



Asset-backed securities	—		38.7		—		38.7
Agency residential mortgage-backed securities	—		97.5		—		97.5
Non-agency residential mortgage-backed securities	—		44.2		—		44.2
Collateralized loan obligations	—		9.7		—		9.7
Commercial mortgage-backed securities	—		104.7		—		104.7

Total trading securities	—		294.8		—		294.8
Investments held by variable interest entities - corporate securities	—		293.0		—		293.0
Other invested assets:
Derivatives	—		323.5		—		323.5
Residual tranches	—		—		4.2		4.2
Total other invested assets	—		323.5		4.2		327.7

Assets held in separate accounts	—		2.8		—		2.8
Total assets carried at fair value by category	$	176.5	$	24,746.1	$	249.7	$	25,172.3
Equity securities measured at net asset value							22.0
Total assets carried at fair value							$	25,194.3

Liabilities:
Market risk benefit liability	$	—	$	—	$	48.1	$	48.1
Embedded derivatives associated with fixed indexed annuity products	—		—		1,600.6		1,600.6
Total liabilities carried at fair value	$	—	$	—	$	1,648.7	$	1,648.7


	Fixed Maturities, Available for Sale		Equity Securities		Other Invested Assets		Total
Beginning of period	$	248.4	$	73.5	$	4.5	$	326.4
Gains (losses) included in net income	(0.2)		(0.5)		0.1		(0.6)
Gains (losses) included in accumulated other comprehensive loss	(7.0)		—		—		(7.0)
Purchases, sales, issuances and settlements (a)
Purchases	68.2		—		—		68.2
Sales	(10.0)		—		—		(10.0)
Transfers into Level 3 (b)	184.0		—		—		184.0
Transfers out of Level 3 (b)	(36.1)		—		—		(36.1)
End of period	$	447.3	$	73.0	$	4.6	$	524.9

Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	$	(0.2)	$	(0.5)	$	0.1	$	(0.6)
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$	(8.7)	$	—	$	—	$	(8.7)

________________

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 nine months ended September 30, 2026 (dollars in millions):


	Fixed Maturities, Available for Sale		Equity Securities		Other Invested Assets		Total
Beginning of period	$	171.8	$	73.7	$	4.2	$	249.7
Gains (losses) included in net income	(0.5)		(0.7)		0.3		(0.9)
Gains (losses) included in accumulated other comprehensive loss	(9.7)		—		—		(9.7)
Purchases, sales, issuances and settlements (a)
Purchases	155.9		—		0.4		156.3
Sales	(21.7)		—		(0.3)		(22.0)
Transfers into Level 3 (b)	195.9		—		—		195.9
Transfers out of Level 3 (b)	(44.4)		—		—		(44.4)
End of period	$	447.3	$	73.0	$	4.6	$	524.9

Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	$	(0.2)	$	(0.7)	$	0.2	$	(0.7)
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$	(12.6)	$	—	$	—	$	(12.6)

________________


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Balance at beginning of the period	$	1,676.7	$	1,502.4	$	1,600.6	$	1,471.6
Premiums less benefits	4.5		(7.4)		(8.5)		(23.4)
Change in fair value, net	(102.5)		103.4		(13.4)		150.2
Balance at end of the period	$	1,578.7	$	1,598.4	$	1,578.7	$	1,598.4

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation


	Fixed Maturities, Available for Sale		Equity Securities		Other Invested Assets		Total
Beginning of period	$	454.6	$	94.4	$	2.6	$	551.6
Gains (losses) included in net income	(2.0)		0.3		—		(1.7)
Gains (losses) included in accumulated other comprehensive loss	4.2		—		—		4.2
Purchases, sales, issuances and settlements (a)
Purchases	177.5		—		—		177.5
Sales	(9.7)		—		—		(9.7)
Transfers into Level 3 (b)	10.5		—		—		10.5
Transfers out of Level 3 (b)	(49.6)		(20.5)		—		(70.1)
End of period	$	585.5	$	74.2	$	2.6	$	662.3

Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	$	(2.0)	$	0.3	$	—	$	(1.7)
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$	3.9	$	—	$	—	$	3.9

________________

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 nine months ended September 30, 2025 (dollars in millions):


	Fixed Maturities, Available for Sale		Equity Securities		Other Invested Assets		Total
Beginning of period	$	155.9	$	73.4	$	95.4	$	324.7
Gains (losses) included in net income	(0.3)		0.8		—		0.5
Gains (losses) included in accumulated other comprehensive loss	1.2		—		—		1.2
Purchases, sales, issuances and settlements (a)
Purchases	420.0		—		—		420.0
Sales	(24.0)		—		—		(24.0)
Transfers into Level 3 (b)	89.8		—		—		89.8
Transfers out of Level 3 (b)	(57.1)		—		(92.8)		(149.9)
End of period	$	585.5	$	74.2	$	2.6	$	662.3

Change in unrealized gains or losses for the period included in net income for assets held at the end of the reporting period	$	(0.3)	$	0.9	$	—	$	0.6
Change in unrealized gains or losses for the period included in other comprehensive loss for assets held at the end of the reporting period	$	—	$	—	$	—	$	—

________________

Schedule of Fair Value Measurement Inputs

Fair value at September 30, 2026

Valuation techniques

Unobservable inputs

Range (weighted average) (a)

Assets:

Corporate securities

—

Recovery method

% Recovery expected

—%

Asset-backed securities (b)

6.8

Discounted cash flow analysis

Discount margins

1.47%

Asset-backed securities (c)

3.2

Recovery method

% Recovery expected

56.77%

Equity securities (d)

63.8

Market comparables

EBITDA multiples

12.3X

Total assets

73.8

Liabilities:

Market risk benefit liability (e)

21.9

Discounted cash flow analysis

Surrender rates

0.49% - 18.90% (4.86%)

Partial withdrawal rates

0.00% - 3.11% (1.87%)

Mortality

0.20% - 47.81% (3.61%)

GLWB utilization

5.92% - 47.62% (25.03%)

Non-performance risk spread

0.08% - 0.36% (N/A)

Embedded derivatives related to fixed indexed annuity products (f)

1,578.7

Discounted projected embedded derivatives

Surrender rates

0.49% - 23.68% (6.65%)

Partial withdrawal rates

0.00% - 4.41% (3.31%)

Mortality

0.02% - 47.81% (4.05%)

GLWB utilization

5.92% - 47.62% (25.03%)

Option budget

0.91% - 3.45% (2.56%)

Non-performance risk spread

0.08% - 0.36% (N/A)

Total liabilities

1,600.6

________________

(a) The weighted average is based on the relative fair value of the related assets or liabilities.

Fair value at December 31, 2025

Valuation techniques

Unobservable inputs

Range (weighted average) (a)

Assets:

Corporate securities (c)

0.5

Recovery method

% Recovery expected

50.00%

Asset-backed securities (b)

7.6

Discounted cash flow analysis

Discount margins

1.61%

Asset-backed securities (c)

3.5

Recovery method

% Recovery expected

61.24%

Equity securities (d)

64.5

Market comparables

EBITDA multiples

10.9X

Total assets

76.1

Liabilities:

Market risk benefit liability (e)

48.1

Discounted cash flow analysis

Surrender rates

0.46% - 17.68% (3.44%)

Partial withdrawal rates

0.00% - 3.00% (0.96%)

Mortality

0.03% - 39.75% (3.63%)

GLWB utilization

5.92% - 47.62% (25.07%)

Non-performance risk spread

0.09% - 0.31% (N/A)

Embedded derivatives related to fixed indexed annuity products (f)

1,600.6

Discounted projected embedded derivatives

Surrender rates

0.46% - 23.36% (6.11%)

Partial withdrawal rates

0.00% - 4.50% (2.78%)

Mortality

0.03% - 39.75% (4.05%)

GLWB utilization

5.92% - 47.62% (25.07%)

Option budget

0.90% - 3.38% (2.64%)

Non-performance risk spread

0.09% - 0.31% (N/A)

Total liabilities

1,648.7

________________

(a) The weighted average is based on the relative fair value of the related assets or liabilities.

The fair value of our financial instruments not carried at fair value on a recurring basis are as follows (dollars in millions):


	September 30, 2026
	Quoted prices in active markets for identical assets or liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total estimated fair value		Total carrying amount
Assets:
Mortgage loans	$	—	$	—	$	3,290.5	$	3,290.5	$	3,437.1
Policy loans	—		—		145.6		145.6		145.6
Other invested assets:
Company-owned life insurance (a)	—		440.8		—		440.8		440.8
Cash and cash equivalents:
Unrestricted	1,409.4		—		—		1,409.4		1,409.4
Held by variable interest entities	12.0		—		—		12.0		12.0
Total	$	1,421.4	$	440.8	$	3,436.1	$	5,298.3	$	5,444.9

Liabilities:
Policyholder account balances (b)	$	—	$	—	$	18,240.6	$	18,240.6	$	18,240.6
Investment borrowings	—		3,192.9		—		3,192.9		3,191.7
Borrowings related to variable interest entities	—		276.4		—		276.4		285.0
Notes payable – direct corporate obligations	—		1,281.1		—		1,281.1		1,336.7
Total	$	—	$	4,750.4	$	18,240.6	$	22,991.0	$	23,054.0

________________


	December 31, 2025
	Quoted prices in active markets for identical assets or liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total estimated fair value		Total carrying amount
Assets:
Mortgage loans	$	—	$	—	$	3,196.9	$	3,196.9	$	3,256.8
Policy loans	—		—		140.9		140.9		140.9
Other invested assets:
Company-owned life insurance (a)	—		420.9		—		420.9		420.9
Cash and cash equivalents:
Unrestricted	956.1		—		—		956.1		956.1
Held by variable interest entities	27.4		—		—		27.4		27.4
Total	$	983.5	$	420.9	$	3,337.8	$	4,742.2	$	4,802.1

Liabilities:
Policyholder account balances (b)	$	—	$	—	$	17,312.0	$	17,312.0	$	17,312.0
Investment borrowings	—		2,443.2		—		2,443.2		2,441.7
Borrowings related to variable interest entities	—		277.1		—		277.1		274.4
Notes payable – direct corporate obligations	—		1,365.7		—		1,365.7		1,335.6
Total	$	—	$	4,086.0	$	17,312.0	$	21,398.0	$	21,363.7

________________

INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Schedule of Fixed Maturities for Available for Sale Securities


	Amortized cost		Gross unrealized gains		Gross unrealized losses		Allowance for credit losses		Estimated fair value
Corporate securities	$	15,557.6	$	9.7	$	(2,274.8)	$	(50.1)	$	13,242.4

United States Treasury securities and obligations of United States government corporations and agencies	214.3		—		(50.0)		—		164.3
States and political subdivisions	3,209.8		2.3		(580.4)		(3.1)		2,628.6
Foreign governments	144.6		—		(20.2)		(1.1)		123.3
Asset-backed securities	2,097.5		1.1		(85.9)		(0.1)		2,012.6
Agency residential mortgage-backed securities	639.1		0.8		(14.4)		—		625.5
Non-agency residential mortgage-backed securities	1,327.4		19.2		(107.0)		—		1,239.6
Collateralized loan obligations	1,609.9		2.0		(2.6)		—		1,609.3
Commercial mortgage-backed securities	2,161.5		0.9		(127.9)		(2.5)		2,032.0
Total fixed maturities, available for sale	$	26,961.7	$	36.0	$	(3,263.2)	$	(56.9)	$	23,677.6


	Amortized cost		Gross unrealized gains		Gross unrealized losses		Allowance for credit losses		Estimated fair value
Corporate securities	$	14,568.8	$	137.1	$	(1,413.2)	$	(30.2)	$	13,262.5

United States Treasury securities and obligations of United States government corporations and agencies	207.2		0.1		(30.2)		—		177.1
States and political subdivisions	3,311.4		25.1		(378.9)		(2.9)		2,954.7
Foreign governments	130.9		0.9		(10.7)		(0.6)		120.5
Asset-backed securities	1,780.8		14.0		(47.4)		(0.1)		1,747.3
Agency residential mortgage-backed securities	838.3		11.4		(0.2)		—		849.5
Non-agency residential mortgage-backed securities	1,639.1		37.5		(90.9)		—		1,585.7
Collateralized loan obligations	1,142.4		2.8		(2.7)		—		1,142.5
Commercial mortgage-backed securities	2,157.5		6.4		(114.7)		(2.2)		2,047.0
Total fixed maturities, available for sale	$	25,776.4	$	235.3	$	(2,088.9)	$	(36.0)	$	23,886.8

Schedule of Investments Classified by Contractual Maturity Date


	Amortized cost		Estimated fair value
	(Dollars in millions)
Due in one year or less	$	203.2	$	202.7
Due after one year through five years	2,468.3		2,413.3
Due after five years through ten years	3,600.4		3,412.0
Due after ten years	12,854.4		10,130.6
Subtotal	19,126.3		16,158.6
Structured securities	7,835.4		7,519.0
Total fixed maturities, available for sale	$	26,961.7	$	23,677.6

Schedule of Unrealized Loss on Investments


	Less than 12 months				12 months or greater				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Corporate securities	$	2,807.4	$	(128.0)	$	1,895.6	$	(630.5)	$	4,703.0	$	(758.5)
United States Treasury securities and obligations of United States government corporations and agencies	30.4		(0.7)		133.9		(49.3)		164.3		(50.0)
States and political subdivisions	910.9		(52.1)		620.6		(200.4)		1,531.5		(252.5)
Foreign governments	24.5		(1.0)		6.2		(2.5)		30.7		(3.5)
Asset-backed securities	1,218.4		(39.4)		359.5		(45.5)		1,577.9		(84.9)
Agency residential mortgage-backed securities	524.4		(13.9)		6.2		(0.6)		530.6		(14.5)
Non-agency residential mortgage-backed securities	567.0		(13.7)		435.1		(93.3)		1,002.1		(107.0)
Collateralized loan obligations	555.8		(1.2)		59.5		(1.4)		615.3		(2.6)
Commercial mortgage-backed securities	751.6		(8.7)		836.4		(119.2)		1,588.0		(127.9)
Total fixed maturities, available for sale	$	7,390.4	$	(258.7)	$	4,353.0	$	(1,142.7)	$	11,743.4	$	(1,401.4)


	Less than 12 months				12 months or greater				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Corporate securities	$	734.9	$	(44.3)	$	2,645.8	$	(426.7)	$	3,380.7	$	(471.0)
United States Treasury securities and obligations of United States government corporations and agencies	0.4		—		153.9		(30.2)		154.3		(30.2)
States and political subdivisions	275.6		(8.5)		806.0		(127.6)		1,081.6		(136.1)
Foreign governments	3.1		—		24.3		(2.7)		27.4		(2.7)
Asset-backed securities	187.8		(1.8)		487.7		(44.9)		675.5		(46.7)
Agency residential mortgage-backed securities	59.8		—		13.8		(0.2)		73.6		(0.2)
Non-agency residential mortgage-backed securities	131.4		(0.9)		703.3		(90.0)		834.7		(90.9)
Collateralized loan obligations	227.3		(0.9)		62.9		(1.8)		290.2		(2.7)
Commercial mortgage-backed securities	243.7		(2.1)		1,067.2		(112.6)		1,310.9		(114.7)
Total fixed maturities, available for sale	$	1,864.0	$	(58.5)	$	5,964.9	$	(836.7)	$	7,828.9	$	(895.2)

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 September 30, 2026 (dollars in millions):


	Corporate securities		Other		Total
Allowance at June 30, 2026	$	35.3	$	6.2	$	41.5
Additions for securities for which credit losses were not previously recorded	8.6		0.2		8.8
Additions for securities where an allowance was previously recorded	7.3		0.5		7.8
Reductions for securities disposed during the period	(1.1)		(0.1)		(1.2)
Allowance at September 30, 2026	$	50.1	$	6.8	$	56.9

The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the nine months ended September 30, 2026 (dollars in millions):


	Corporate securities		Other		Total
Allowance at December 31, 2025	$	30.2	$	5.8	$	36.0
Additions for securities for which credit losses were not previously recorded	21.7		0.4		22.1
Additions for securities where an allowance was previously recorded	5.9		0.7		6.6
Reductions for securities disposed during the period	(7.7)		(0.1)		(7.8)
Allowance at September 30, 2026	$	50.1	$	6.8	$	56.9

The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the three months ended September 30, 2025 (dollars in millions):


	Corporate securities		Other		Total
Allowance at June 30, 2025	$	33.1	$	6.0	$	39.1
Additions for securities for which credit losses were not previously recorded	0.4		—		0.4
Reductions for securities where an allowance was previously recorded	(4.6)		(0.5)		(5.1)
Reductions for securities disposed during the period	(1.4)		—		(1.4)
Allowance at September 30, 2025	$	27.5	$	5.5	$	33.0

The following table summarizes changes in the allowance for credit losses related to fixed maturities, available for sale, for the nine months ended September 30, 2025 (dollars in millions):


	Corporate securities		Other		Total
Allowance at December 31, 2024	$	31.1	$	6.0	$	37.1
Additions for securities for which credit losses were not previously recorded	3.5		—		3.5
Reductions for securities where an allowance was previously recorded	(3.7)		(0.5)		(4.2)
Reductions for securities disposed during the period	(3.4)		—		(3.4)
Allowance at September 30, 2025	$	27.5	$	5.5	$	33.0

Schedule of Carrying Value and Estimated Fair Value of Outstanding Commercial Mortgage Loans and Underlying Collateral


															Estimated fair value
Loan-to-value ratio (a)	2026		2025		2024		2023		2022		Prior		Total amortized cost		Commercial mortgage loans		Collateral
Less than 60%	$	261.3	$	248.1	$	151.9	$	169.9	$	138.6	$	458.1	$	1,427.9	$	1,299.0	$	4,635.3
60% to less than 70%	41.3		146.0		16.3		47.6		36.2		21.4		308.8		287.9		481.1
70% to less than 80%	—		9.9		15.0		—		60.7		22.1		107.7		95.1		143.3
80% to less than 90%	—		—		—		—		29.9		—		29.9		25.5		37.1
90% to less than 100%	—		—		—		—		—		9.5		9.5		7.2		9.9

Total	$	302.6	$	404.0	$	183.2	$	217.5	$	265.4	$	511.1	$	1,883.8	$	1,714.7	$	5,306.7

_________________

(a)Loan-to-value ratios are calculated as the ratio of: (i) the amortized cost of the commercial mortgage loans; to (ii) the estimated fair value of the underlying collateral.

Schedule of 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 periods indicated (dollars in millions):


	Three months ended				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Allowance at the beginning of the period	$	17.0	$	21.1	$	20.9	$	13.6
Increase (decrease) in provision for expected credit losses	0.3		(0.1)		(3.6)		7.4
Allowance at the end of the period	$	17.3	$	21.0	$	17.3	$	21.0

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				Nine months ended
	September 30,				September 30,
	2026		2025		2026		2025
Realized investment gains (losses):
Gross realized gains on sales of fixed maturities, available for sale	$	5.3	$	1.9	$	80.0	$	4.8
Gross realized losses on sales of fixed maturities, available for sale	(34.4)		(18.1)		(123.6)		(42.7)
Equity securities, net	0.1		0.7		(0.2)		0.2
Other, net	(3.6)		2.6		(5.2)		(0.3)
Total realized investment losses	(32.6)		(12.9)		(49.0)		(38.0)
Change in allowance for credit losses and write-downs	(16.3)		8.0		(29.4)		(2.6)
Change in fair value of equity securities (a)	(5.4)		1.4		(9.3)		3.5
Other changes in fair value (b) (c)	(10.4)		0.5		(14.4)		8.9

Other investment gains (losses)	(32.1)		9.9		(53.1)		9.8
Total investment losses	$	(64.7)	$	(3.0)	$	(102.1)	$	(28.2)

_________________

respectively, and $(2.8) million and $1.8 million for the nine months ended September 30, 2026 and 2025, respectively.

SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2026

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss, included in shareholders' equity as of September 30, 2026 and December 31, 2025, is comprised of the following (dollars in millions):


	September 30, 2026		December 31, 2025
Net unrealized losses on investments having no allowance for credit losses (a)	$	(1,366.6)	$	(661.6)
Unrealized losses on investments with an allowance for credit losses	(1,862.8)		(1,193.9)
Change in discount rates for liability for future policy benefits	1,244.2		421.1
Change in instrument-specific credit risk for market risk benefits	0.7		0.9
Deferred income tax assets	438.7		318.5
Accumulated other comprehensive loss	$	(1,545.8)	$	(1,115.0)

________________

LIABILITIES FOR INSURANCE PRODUCTS - SCHEDULE OF WEIGHTED AVERAGE INTEREST RATE (Details)	Sep. 30, 2026	Sep. 30, 2025
Other annuities
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.88%	4.87%
Current discount rate	6.49%	5.32%
Supplemental health
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.94%	4.96%
Current discount rate	6.45%	5.26%
Medicare supplement
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.27%	4.33%
Current discount rate	6.21%	4.93%
Long-term care
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5.61%	5.64%
Current discount rate	6.52%	5.35%
Traditional life
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.84%	4.80%
Current discount rate	6.49%	5.30%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

INVESTMENTS - SCHEDULE OF INVESTMENTS WITH UNREALIZED LOSSES BY INVESTMENT CATEGORY (Details) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Fair value
Less than 12 months	$ 7,390.4	$ 1,864.0
12 months or greater	4,353.0	5,964.9
Total	11,743.4	7,828.9
Unrealized losses
Less than 12 months	(258.7)	(58.5)
12 months or greater	(1,142.7)	(836.7)
Total	(1,401.4)	(895.2)
Corporate securities
Fair value
Less than 12 months	2,807.4	734.9
12 months or greater	1,895.6	2,645.8
Total	4,703.0	3,380.7
Unrealized losses
Less than 12 months	(128.0)	(44.3)
12 months or greater	(630.5)	(426.7)
Total	(758.5)	(471.0)
United States Treasury securities and obligations of United States government corporations and agencies
Fair value
Less than 12 months	30.4	0.4
12 months or greater	133.9	153.9
Total	164.3	154.3
Unrealized losses
Less than 12 months	(0.7)	0.0
12 months or greater	(49.3)	(30.2)
Total	(50.0)	(30.2)
States and political subdivisions
Fair value
Less than 12 months	910.9	275.6
12 months or greater	620.6	806.0
Total	1,531.5	1,081.6
Unrealized losses
Less than 12 months	(52.1)	(8.5)
12 months or greater	(200.4)	(127.6)
Total	(252.5)	(136.1)
Foreign governments
Fair value
Less than 12 months	24.5	3.1
12 months or greater	6.2	24.3
Total	30.7	27.4
Unrealized losses
Less than 12 months	(1.0)	0.0
12 months or greater	(2.5)	(2.7)
Total	(3.5)	(2.7)
Asset-backed securities
Fair value
Less than 12 months	1,218.4	187.8
12 months or greater	359.5	487.7
Total	1,577.9	675.5
Unrealized losses
Less than 12 months	(39.4)	(1.8)
12 months or greater	(45.5)	(44.9)
Total	(84.9)	(46.7)
Agency residential mortgage-backed securities
Fair value
Less than 12 months	524.4	59.8
12 months or greater	6.2	13.8
Total	530.6	73.6
Unrealized losses
Less than 12 months	(13.9)	0.0
12 months or greater	(0.6)	(0.2)
Total	(14.5)	(0.2)
Non-agency residential mortgage-backed securities
Fair value
Less than 12 months	567.0	131.4
12 months or greater	435.1	703.3
Total	1,002.1	834.7
Unrealized losses
Less than 12 months	(13.7)	(0.9)
12 months or greater	(93.3)	(90.0)
Total	(107.0)	(90.9)
Collateralized loan obligations
Fair value
Less than 12 months	555.8	227.3
12 months or greater	59.5	62.9
Total	615.3	290.2
Unrealized losses
Less than 12 months	(1.2)	(0.9)
12 months or greater	(1.4)	(1.8)
Total	(2.6)	(2.7)
Commercial mortgage-backed securities
Fair value
Less than 12 months	751.6	243.7
12 months or greater	836.4	1,067.2
Total	1,588.0	1,310.9
Unrealized losses
Less than 12 months	(8.7)	(2.1)
12 months or greater	(119.2)	(112.6)
Total	$ (127.9)	$ (114.7)

DEFERRED ACQUISITION COSTS, PRESENT VALUE OF FUTURE PROFITS AND SALES INDUCEMENTS - SCHEDULE OF PRESENT VALUE OF FUTURE PROFITS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	$ 143.6	$ 161.0
Amortization expense	(11.9)	(13.2)
End of period	131.7	147.8
Supplemental health
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	117.4	128.8
Amortization expense	(8.2)	(8.7)
End of period	109.2	120.1
Medicare supplement
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	12.0	15.7
Amortization expense	(2.3)	(2.8)
End of period	9.7	12.9
Long-term care
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	3.7	4.4
Amortization expense	(0.4)	(0.5)
End of period	3.3	3.9
Traditional life
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	9.9	11.3
Amortization expense	(1.0)	(1.1)
End of period	8.9	10.2
Fixed indexed annuities
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	0.4	0.5
Amortization expense	0.0	0.0
End of period	0.4	0.5
Fixed interest annuities
Movement in Present Value of Future Insurance Profits [Roll Forward]
Beginning of period	0.2	0.3
Amortization expense	0.0	(0.1)
End of period	$ 0.2	$ 0.2

LIABILITIES FOR INSURANCE PRODUCTS - SCHEDULE OF GUARANTEED MINIMUM CREDITING RATES (Details) $ in Millions	Sep. 30, 2026 USD ($)	Dec. 31, 2025 USD ($)	Sep. 30, 2025 USD ($)
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 20,222.3		$ 18,624.7
Amount of reserves above (below) policyholder account values	(403.0)		(334.4)
Policyholder account balances	19,819.3	$ 18,912.6	18,290.3
0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 1,960.2		$ 1,831.0
0.00%-2.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0.00%		0.00%
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]
Total policyholder account values	$ 1,994.2		$ 2,133.7
3.00%-4.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3.00%		3.00%
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]
Total policyholder account values	$ 128.5		$ 132.2
5.00% and greater \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5.00%		5.00%
At guaranteed minimum \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 230.1		$ 143.0
At guaranteed minimum \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	1,628.1		1,626.7
At guaranteed minimum \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 128.3		$ 132.0
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]
Total policyholder account values	$ 550.8		$ 526.5
1-50 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	145.2		207.7
1-50 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 0.2		$ 0.2
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]
Total policyholder account values	$ 280.3		$ 331.5
51-150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	217.1		285.7
51-150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 0.0		$ 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]
Total policyholder account values	$ 899.0		$ 830.0
Greater than 150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	3.8		13.6
Greater than 150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Contracts Excluding Fixed Indexed Annuities
Policyholder Account Balance [Line Items]
Total policyholder account values	4,082.9		4,096.9
Contracts Excluding Fixed Indexed Annuities \| At guaranteed minimum
Policyholder Account Balance [Line Items]
Total policyholder account values	1,986.5		1,901.7
Contracts Excluding Fixed Indexed Annuities \| 1-50 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	696.2		734.4
Contracts Excluding Fixed Indexed Annuities \| 51-150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	497.4		617.2
Contracts Excluding Fixed Indexed Annuities \| Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	902.8		843.6
Fixed interest annuities
Policyholder Account Balance [Line Items]
Total policyholder account values	2,071.5		2,138.9
Amount of reserves above (below) policyholder account values	0.0		0.0
Policyholder account balances	2,071.5		2,138.9
Fixed interest annuities \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 757.2		$ 673.4
Fixed interest annuities \| 0.00%-2.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0.00%		0.00%
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]
Total policyholder account values	$ 1,240.8		$ 1,387.4
Fixed interest annuities \| 3.00%-4.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3.00%		3.00%
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]
Total policyholder account values	$ 73.5		$ 78.1
Fixed interest annuities \| 5.00% and greater \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5.00%		5.00%
Fixed interest annuities \| At guaranteed minimum
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 1,434.3		$ 1,351.7
Fixed interest annuities \| At guaranteed minimum \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	173.8		85.7
Fixed interest annuities \| At guaranteed minimum \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	1,187.0		1,187.9
Fixed interest annuities \| At guaranteed minimum \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	73.5		78.1
Fixed interest annuities \| 1-50 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	266.2		279.4
Fixed interest annuities \| 1-50 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	212.4		182.7
Fixed interest annuities \| 1-50 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	53.8		96.7
Fixed interest annuities \| 1-50 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Fixed interest annuities \| 51-150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	280.3		422.3
Fixed interest annuities \| 51-150 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	280.3		331.0
Fixed interest annuities \| 51-150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		91.3
Fixed interest annuities \| 51-150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Fixed interest annuities \| Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	90.7		85.5
Fixed interest annuities \| Greater than 150 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	90.7		74.0
Fixed interest annuities \| Greater than 150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		11.5
Fixed interest annuities \| Greater than 150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities
Policyholder Account Balance [Line Items]
Total policyholder account values	129.6		135.2
Other annuities \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 38.3		$ 44.8
Other annuities \| 0.00%-2.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0.00%		0.00%
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]
Total policyholder account values	$ 55.9		$ 57.0
Other annuities \| 3.00%-4.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3.00%		3.00%
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]
Total policyholder account values	$ 35.4		$ 33.4
Other annuities \| 5.00% and greater \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5.00%		5.00%
Other annuities \| At guaranteed minimum
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 110.7		$ 114.1
Other annuities \| At guaranteed minimum \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	19.4		23.7
Other annuities \| At guaranteed minimum \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	55.9		57.0
Other annuities \| At guaranteed minimum \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	35.4		33.4
Other annuities \| 1-50 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	18.9		21.1
Other annuities \| 1-50 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	18.9		21.1
Other annuities \| 1-50 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities \| 1-50 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities \| 51-150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities \| 51-150 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities \| 51-150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities \| 51-150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities \| Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities \| Greater than 150 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities \| Greater than 150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other annuities \| Greater than 150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Interest-sensitive life
Policyholder Account Balance [Line Items]
Total policyholder account values	1,527.1		1,463.1
Amount of reserves above (below) policyholder account values	16.2		18.5
Policyholder account balances	1,543.3		1,481.6
Interest-sensitive life \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 829.8		$ 774.1
Interest-sensitive life \| 0.00%-2.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0.00%		0.00%
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]
Total policyholder account values	$ 678.0		$ 668.6
Interest-sensitive life \| 3.00%-4.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3.00%		3.00%
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]
Total policyholder account values	$ 19.3		$ 20.4
Interest-sensitive life \| 5.00% and greater \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5.00%		5.00%
Interest-sensitive life \| At guaranteed minimum
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 406.3		$ 398.9
Interest-sensitive life \| At guaranteed minimum \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	21.5		17.6
Interest-sensitive life \| At guaranteed minimum \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	365.7		361.1
Interest-sensitive life \| At guaranteed minimum \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	19.1		20.2
Interest-sensitive life \| 1-50 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	91.6		111.2
Interest-sensitive life \| 1-50 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Interest-sensitive life \| 1-50 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	91.4		111.0
Interest-sensitive life \| 1-50 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.2		0.2
Interest-sensitive life \| 51-150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	217.1		194.9
Interest-sensitive life \| 51-150 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.5
Interest-sensitive life \| 51-150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	217.1		194.4
Interest-sensitive life \| 51-150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Interest-sensitive life \| Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	812.1		758.1
Interest-sensitive life \| Greater than 150 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	808.3		756.0
Interest-sensitive life \| Greater than 150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	3.8		2.1
Interest-sensitive life \| Greater than 150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other
Policyholder Account Balance [Line Items]
Total policyholder account values	354.7		359.7
Amount of reserves above (below) policyholder account values	0.0		0.0
Policyholder account balances	354.7		359.7
Other \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 334.9		$ 338.7
Other \| 0.00%-2.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	0.00%		0.00%
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]
Total policyholder account values	$ 19.5		$ 20.7
Other \| 3.00%-4.99% \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	3.00%		3.00%
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]
Total policyholder account values	$ 0.3		$ 0.3
Other \| 5.00% and greater \| Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rates	5.00%		5.00%
Other \| At guaranteed minimum
Policyholder Account Balance [Line Items]
Total policyholder account values	$ 35.2		$ 37.0
Other \| At guaranteed minimum \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	15.4		16.0
Other \| At guaranteed minimum \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	19.5		20.7
Other \| At guaranteed minimum \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.3		0.3
Other \| 1-50 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	319.5		322.7
Other \| 1-50 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	319.5		322.7
Other \| 1-50 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other \| 1-50 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other \| 51-150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other \| 51-150 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other \| 51-150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other \| 51-150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other \| Greater than 150 basis points above
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other \| Greater than 150 basis points above \| 0.00%-2.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other \| Greater than 150 basis points above \| 3.00%-4.99%
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Other \| Greater than 150 basis points above \| 5.00% and greater
Policyholder Account Balance [Line Items]
Total policyholder account values	0.0		0.0
Fixed indexed annuities
Policyholder Account Balance [Line Items]
Total policyholder account values	12,449.7		11,548.2
Amount of reserves above (below) policyholder account values	(419.2)		(352.9)
Policyholder account balances	12,030.5		11,195.3
Funding Agreement Backed Notes
Policyholder Account Balance [Line Items]
Total policyholder account values	3,689.7		2,979.6
Amount of reserves above (below) policyholder account values	0.0		0.0
Policyholder account balances	$ 3,689.7		$ 2,979.6