Item 3. Quantitative and Qualitative Disclosures About Market Risk

Our 2021 Annual Report described our Quantitative and Qualitative Disclosures About Market Risk. As of March 31, 2022, there were no material changes to the assumptions or risks.

As it relates to credit risk, following the closing of the John Alden Life Insurance Company (“JALIC”) transaction in April 2022, we no longer have reinsurance recoverables from Employers Reassurance Corporation (“ERAC”). As of March 31, 2022 and December 31, 2021, we had $812.0 million and $817.4 million, respectively, of reinsurance recoverables from ERAC that are included in assets held for sale on our consolidated balance sheets. Refer to Note 4 to the Consolidated Financial Statements included elsewhere in this Report.