CNO Financial (CNO) 10-Q 5 Nov 18 2018 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2018	Oct. 23, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	CNO Financial Group, Inc.
Entity Central Index Key	1,224,608
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Filer Category	Large Accelerated Filer
Amendment Flag	false
Entity Common Stock, Shares Outstanding		164,649,365

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Investments:
Fixed maturities, available for sale, at fair value (amortized cost: September 30, 2018 - $17,929.5; December 31, 2017 - $20,702.1)	$ 18,512.4	$ 22,910.9
Equity securities at fair value (cost: September 30, 2018 - $340.8; December 31, 2017 - $420.0)	335.5	440.6
Mortgage loans	1,680.6	1,650.6
Policy loans	117.4	116
Trading securities	239	284.6
Investments held by variable interest entities	1,550.5	1,526.9
Other invested assets	920	924.5
Total investments	23,355.4	27,854.1
Cash and cash equivalents - unrestricted	539.2	578.4
Cash and cash equivalents held by variable interest entities	56.4	178.9
Accrued investment income	224.7	245.9
Present value of future profits	351.6	359.6
Deferred acquisition costs	1,291.1	1,026.8
Reinsurance receivables	4,946.3	2,175.2
Income tax assets, net	577.8	366.9
Assets held in separate accounts	5.1	5
Other assets	299.6	319.5
Total assets	31,647.2	33,110.3
Liabilities for insurance products:
Policyholder account balances	11,449.7	11,220.7
Future policy benefits	11,140.5	11,521.3
Liability for policy and contract claims	513.4	530.3
Unearned and advanced premiums	249.2	261.7
Liabilities related to separate accounts	5.1	5
Other liabilities	689.5	751.8
Investment borrowings	1,646.1	1,646.7
Borrowings related to variable interest entities	1,417.6	1,410.7
Notes payable – direct corporate obligations	916.2	914.6
Total liabilities	28,027.3	28,262.8
Commitments and Contingencies
Shareholders' equity:
Common stock ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: September 30, 2018 – 164,634,365; December 31, 2017 – 166,857,931)	1.6	1.7
Additional paid-in capital	3,030	3,073.3
Accumulated other comprehensive income	403.5	1,212.1
Retained earnings	184.8	560.4
Total shareholders' equity	3,619.9	4,847.5
Total liabilities and shareholders' equity	$ 31,647.2	$ 33,110.3

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Investments:
Fixed maturities, available for sale, amortized cost	$ 17,929.5	$ 20,702.1
Equity securities cost	$ 340.8	$ 420
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)	164,634,365	166,857,931
Common stock, shares outstanding (in shares)	164,634,365	166,857,931

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Insurance policy income	$ 656.9	$ 659.3	$ 1,976.6	$ 1,987.2
Net investment income:
General account assets	332	325.9	989.3	960.3
Policyholder and other special-purpose portfolios	85.8	52.7	134.3	171.8
Realized investment gains (losses):
Net realized gains on the transfer of assets related to reinsurance transaction	363.4	0	363.4	0
Other net realized investment gains, excluding impairment losses	33.3	34.5	29.1	74.8
Total other-than-temporary impairment losses	(2.1)	(4.7)	(2.1)	(17.3)
Portion of other-than-temporary impairment losses recognized in accumulated other comprehensive income	0	0	0	(0.9)
Net impairment losses recognized	(2.1)	(4.7)	(2.1)	(18.2)
Loss on dissolution of variable interest entities	0	(0.6)	0	(4.3)
Total realized gains	394.6	29.2	390.4	52.3
Fee revenue and other income	11.9	12.2	44.7	35.5
Total revenues	1,481.2	1,079.3	3,535.3	3,207.1
Benefits and expenses:
Insurance policy benefits	646.9	638.1	1,851.7	1,941.6
Loss related to reinsurance transaction	1,067.6	0	1,067.6	0
Interest expense	38.8	30.1	110.1	92.3
Amortization	62.4	58.2	195.3	181.3
Loss on extinguishment of borrowings related to variable interest entities	0	5.5	3.8	5.5
Other operating costs and expenses	205.3	217.5	608.7	631.3
Total benefits and expenses	2,021	949.4	3,837.2	2,852
Income (loss) before income taxes	(539.8)	129.9	(301.9)	355.1
Tax expense (benefit) on period income (loss)	(114.8)	44.1	(63.4)	123.6
Valuation allowance for deferred tax assets and other tax items	104.8	(15)	104.8	(15)
Net income (loss)	$ (529.8)	$ 100.8	$ (343.3)	$ 246.5
Basic:
Weighted average shares outstanding (in shares)	164,551	168,684	165,903	170,890
Net income (loss) (in dollars per share)	$ (3.22)	$ 0.60	$ (2.07)	$ 1.44
Diluted:
Weighted average shares outstanding (in shares)	164,551	170,982	165,903	172,800
Net income (loss) (in dollars per share)	$ (3.22)	$ 0.59	$ (2.07)	$ 1.43

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (529.8)	$ 100.8	$ (343.3)	$ 246.5
Other comprehensive income, before tax:
Unrealized gains (losses) for the period	(149.1)	120.9	(1,264.1)	794.5
Adjustment to present value of future profits and deferred acquisition costs	18.7	(1.8)	107.4	(25.3)
Amount related to premium deficiencies assuming the net unrealized gains (losses) had been realized	106.5	(31)	509.5	(243)
Reclassification adjustments:
For net realized investment gains included in net income (loss)	(354.7)	(27.7)	(366.4)	(44)
For amortization of the present value of future profits and deferred acquisition costs related to net realized investment gains (losses) included in net income (loss)	(0.5)	0.7	(0.1)	1
Other comprehensive income (loss) before tax	(379.1)	61.1	(1,013.7)	483.2
Income tax (expense) benefit related to items of accumulated other comprehensive income (loss)	82.4	(22)	221.4	(172)
Other comprehensive income (loss), net of tax	(296.7)	39.1	(792.3)	311.2
Comprehensive income (loss)	$ (826.5)	$ 139.9	$ (1,135.6)	$ 557.7

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common stock and additional paid-in capital	Accumulated other comprehensive income	Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting change	$ 0.3	$ 0.9		$ (0.6)
Balance, beginning of period at Dec. 31, 2016	4,486.9	3,213.8	$ 622.4	650.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	246.5			246.5
Change in unrealized appreciation (depreciation) of investments (net of applicable income tax expense (benefit))	309.1		309.1
Change in noncredit component of impairment losses on fixed maturities, available for sale (net of applicable income tax expense (benefit))	2.1		2.1
Cost of common stock repurchased	(140.1)	(140.1)
Dividends on common stock	(44.7)			(44.7)
Stock options, restricted stock and performance units	21.6	21.6
Balance, end of period at Sep. 30, 2017	4,881.7	3,096.2	933.6	851.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting change	0	0	(16.3)	16.3
Balance, beginning of period at Dec. 31, 2017	4,847.5	3,075	1,212.1	560.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(343.3)			(343.3)
Change in unrealized appreciation (depreciation) of investments (net of applicable income tax expense (benefit))	(791.5)		(791.5)
Change in noncredit component of impairment losses on fixed maturities, available for sale (net of applicable income tax expense (benefit))	(0.8)		(0.8)
Cost of common stock repurchased	(60.5)	(60.5)
Dividends on common stock	(48.6)			(48.6)
Stock options, restricted stock and performance units	17.1	17.1
Balance, end of period at Sep. 30, 2018	$ 3,619.9	$ 3,031.6	$ 403.5	$ 184.8

CONSOLIDATED STATEMENT OF SHA_2

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Stockholders' Equity [Abstract]
Change in unrealized appreciation (depreciation) of investments, applicable income tax expense (benefit)	$ (221.2)	$ 170.9
Change in noncredit component of impairment losses on fixed maturities, available for sale, applicable income tax expense (benefit)	$ (0.2)	$ 1.1

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Insurance policy income	$ 1,848.1	$ 1,859.4
Net investment income	1,005.7	917.9
Fee revenue and other income	44.7	35.5
Insurance policy benefits	(1,515.6)	(1,491.7)
Payment to reinsurer pursuant to long-term care business reinsured	(365)	0
Interest expense	(92.8)	(81)
Deferrable policy acquisition costs	(187.2)	(183.4)
Other operating costs	(591.9)	(549.2)
Income taxes	(31)	(58)
Net cash flow from operating activities	115	449.5
Cash flows from investing activities:
Sales of investments	2,747.2	1,723.5
Maturities and redemptions of investments	1,966.7	2,543
Purchases of investments	(5,037.6)	(4,076.8)
Net sales of trading securities	25.4	94.8
Other	(16.3)	(20.4)
Net cash provided (used) by investing activities	(314.6)	264.1
Cash flows from financing activities:
Issuance of common stock	3.5	6
Payments to repurchase common stock	(67.5)	(142.3)
Common stock dividends paid	(48.4)	(44.5)
Amounts received for deposit products	1,129.7	1,067.2
Withdrawals from deposit products	(980.5)	(920.8)
Issuance of investment borrowings:
Federal Home Loan Bank	150	332
Related to variable interest entities	277.6	387.3
Payments on investment borrowings:
Federal Home Loan Bank	(150.6)	(332.6)
Related to variable interest entities	(275.9)	(862.3)
Net cash provided (used) by financing activities	37.9	(510)
Net increase (decrease) in cash and cash equivalents	(161.7)	203.6
Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of period	757.3	668.2
Cash and cash equivalents - unrestricted and held by variable interest entities, end of period	$ 595.6	$ 871.8

BUSINESS AND BASIS OF PRESENTAT

BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS AND BASIS OF PRESENTATION	BUSINESS AND BASIS OF PRESENTATION The following notes should be read together with the notes to the consolidated financial statements included in our 2017 Annual Report on Form 10-K. CNO Financial Group, Inc., a Delaware corporation ("CNO"), is a holding company for a group of insurance companies operating throughout the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance 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 three distribution channels: career 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"). We have reclassified certain amounts from the prior periods to conform to the 2018 presentation. These reclassifications have no effect on net income or shareholders' equity. Results for interim periods are not necessarily indicative of the results that may be expected for a full year. The balance sheet at December 31, 2017, presented herein, has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. 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), other-than-temporary impairments of investments, assets and liabilities related to income taxes, liabilities for insurance products, liabilities related to litigation and guaranty fund assessment accruals. If our future experience differs from these estimates and assumptions, our financial statements would be materially affected. The accompanying financial statements include the accounts of the Company and its subsidiaries. Our consolidated financial statements exclude transactions between us and our consolidated affiliates, or among our consolidated affiliates.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS We classify our fixed maturity securities into one of two categories: (i) "available for sale" (which we carry at estimated fair value with any unrealized gain or loss, net of tax and related adjustments, recorded as a component of shareholders' equity); or (ii) "trading" (which we carry at estimated fair value with changes in such value recognized as net investment income (classified as investment income from policyholder and other special-purpose portfolios)). Our trading securities include: (i) investments purchased with the intent of selling in the near term to generate income; (ii) investments supporting certain insurance liabilities and certain reinsurance agreements; and (iii) 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 and investments supporting insurance liabilities is recognized in income from policyholder and other special-purpose portfolios (a component of net investment income). The change in fair value of securities with embedded derivatives is recognized in realized investment gains (losses). Investment income related to investments supporting certain insurance liabilities is substantially offset by the change in insurance policy benefits related to certain products. Accumulated other comprehensive income is primarily comprised of the net effect of unrealized appreciation (depreciation) on our investments. These amounts, included in shareholders' equity as of September 30, 2018 and December 31, 2017 , were as follows (dollars in millions): September 30, December 31, Net unrealized appreciation (depreciation) on fixed maturity securities, available for sale, on which an other-than-temporary impairment loss has been recognized $ 1.6 $ 2.6 Net unrealized gains on all other investments 577.2 2,227.3 Adjustment to present value of future profits (a) (4.5 ) (94.0 ) Adjustment to deferred acquisition costs (56.1 ) (292.6 ) Adjustment to insurance liabilities (5.0 ) (295.8 ) Deferred income tax liabilities (109.7 ) (335.4 ) Accumulated other comprehensive income $ 403.5 $ 1,212.1 ________ (a) The present value of future profits is the value assigned to the right to receive future cash flows from contracts existing at September 10, 2003, the date Conseco, Inc., an Indiana corporation, emerged from bankruptcy. At September 30, 2018 , adjustments to insurance liabilities and deferred tax assets included $5.0 million and $1.1 million , respectively, for premium deficiencies that would exist on certain blocks of business if unrealized gains on the assets backing such products had been realized and the proceeds from the sales of such assets were invested at then current yields. At September 30, 2018 , the amortized cost, gross unrealized gains and losses, estimated fair value, other-than-temporary impairments in accumulated other comprehensive income of fixed maturities, available for sale, were as follows (dollars in millions): Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Other-than-temporary impairments included in accumulated other comprehensive income Corporate securities $ 11,266.5 $ 468.8 $ (210.8 ) $ 11,524.5 $ — United States Treasury securities and obligations of United States government corporations and agencies 151.9 17.3 (.5 ) 168.7 — States and political subdivisions 1,749.7 141.9 (4.6 ) 1,887.0 — Debt securities issued by foreign governments 60.3 1.3 (1.4 ) 60.2 — Asset-backed securities 2,363.7 143.6 (8.2 ) 2,499.1 — Collateralized debt obligations 355.6 .4 (2.0 ) 354.0 — Commercial mortgage-backed securities 1,439.3 14.3 (20.3 ) 1,433.3 — Mortgage pass-through securities 1.5 .1 — 1.6 — Collateralized mortgage obligations 541.0 48.1 (5.1 ) 584.0 (.6 ) Total fixed maturities, available for sale $ 17,929.5 $ 835.8 $ (252.9 ) $ 18,512.4 $ (.6 ) At December 31, 2017 , the amortized cost, gross unrealized gains and losses, estimated fair value, other-than-temporary impairments in accumulated other comprehensive income of fixed maturities, available for sale, and equity securities were as follows (dollars in millions): Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Other-than-temporary impairments included in accumulated other comprehensive income Corporate securities $ 13,286.3 $ 1,699.1 $ (27.0 ) $ 14,958.4 $ — United States Treasury securities and obligations of United States government corporations and agencies 146.4 31.5 (.2 ) 177.7 — States and political subdivisions 1,821.9 234.8 (.4 ) 2,056.3 — Debt securities issued by foreign governments 79.5 3.8 (.2 ) 83.1 — Asset-backed securities 3,085.9 172.6 (4.1 ) 3,254.4 — Collateralized debt obligations 257.1 2.3 — 259.4 — Commercial mortgage-backed securities 1,354.0 33.8 (10.3 ) 1,377.5 — Mortgage pass-through securities 1.8 .2 — 2.0 — Collateralized mortgage obligations 669.2 73.2 (.3 ) 742.1 (1.0 ) Total fixed maturities, available for sale $ 20,702.1 $ 2,251.3 $ (42.5 ) $ 22,910.9 $ (1.0 ) Equity securities $ 420.0 $ 23.6 $ (3.0 ) $ 440.6 The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale, at September 30, 2018 , 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, collateralized debt obligations, commercial mortgage-backed securities, mortgage pass-through securities and collateralized mortgage obligations, 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 $ 367.7 $ 372.8 Due after one year through five years 1,496.2 1,536.2 Due after five years through ten years 1,625.1 1,632.8 Due after ten years 9,739.4 10,098.6 Subtotal 13,228.4 13,640.4 Structured securities 4,701.1 4,872.0 Total fixed maturities, available for sale $ 17,929.5 $ 18,512.4 The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale, at December 31, 2017 , by contractual maturity. Amortized cost Estimated fair value (Dollars in millions) Due in one year or less $ 328.1 $ 335.1 Due after one year through five years 1,947.3 2,052.3 Due after five years through ten years 1,508.7 1,601.3 Due after ten years 11,550.0 13,286.8 Subtotal 15,334.1 17,275.5 Structured securities 5,368.0 5,635.4 Total fixed maturities, available for sale $ 20,702.1 $ 22,910.9 Net Realized Investment Gains (Losses) The following table sets forth the net realized investment gains (losses) for the periods indicated (dollars in millions): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Fixed maturity securities, available for sale: Gross realized gains on sale $ 5.4 $ 32.3 $ 45.5 $ 60.4 Gross realized losses on sale (11.4 ) (8.5 ) (36.9 ) (16.4 ) Impairments: Total other-than-temporary impairment losses — (3.2 ) — (10.0 ) Other-than-temporary impairment losses recognized in accumulated other comprehensive income — — — (.9 ) Net impairment losses recognized — (3.2 ) — (10.9 ) Net realized investment gains (losses) from fixed maturities (6.0 ) 20.6 8.6 33.1 Equity securities, including change in fair value (a) (3.0 ) 7.7 (13.3 ) 9.6 Mortgage loans — — — 1.0 Impairments of other investments (2.1 ) (1.5 ) (2.1 ) (7.3 ) Loss on dissolution of variable interest entities — (.6 ) — (4.3 ) Other (a) (b) 42.3 3.0 33.8 20.2 Net realized investment gains before net realized gains on the transfer of assets related to reinsurance transaction 31.2 29.2 27.0 52.3 Net realized gains on the transfer of assets related to reinsurance transaction 363.4 — 363.4 — Net realized investment gains $ 394.6 $ 29.2 $ 390.4 $ 52.3 _________________ (a) Changes in the estimated fair value of trading securities that we have elected the fair value option and equity securities (and are still held as of the end of the respective periods) were $(6.0) million and $13.0 million for the nine months ended September 30, 2018 and 2017 , respectively. (b) In April 2016, the Company announced that it had invested in a non-controlling minority interest in Tennenbaum Capital Partners, LLC ("TCP"), a Los Angeles-based investment management firm. In August 2018, Blackrock, Inc. announced the completion of its acquisition of TCP. The sale of our interest in TCP resulted in a significant portion of the net realized gains in the third quarter of 2018. During the first nine months of 2018 , we recognized net realized investment gains of $390.4 million , which were comprised of: (i) $50.4 million of net gains from the sales of investments; (ii) $363.4 million of gains on the transfer of assets (substantially all of which were fixed maturities) related to reinsurance transaction; (iii) $13.3 million of losses related to equity securities, including the change in fair value; (iv) the decrease in fair value of certain fixed maturity investments with embedded derivatives of $3.0 million ; (v) the decrease in fair value of embedded derivatives related to a modified coinsurance agreement of $5.0 million ; and (vi) $2.1 million of writedowns of investments for other than temporary declines in fair value recognized through net income. During the first nine months of 2017 , we recognized net realized investment gains of $52.3 million , which were comprised of: (i) $60.1 million of net gains from the sales of investments; (ii) $4.3 million of losses on the dissolution of variable interest entities ("VIEs"); (iii) the increase in fair value of certain fixed maturity investments with embedded derivatives of $12.3 million ; (iv) the increase in fair value of embedded derivatives related to a modified coinsurance agreement of $2.4 million ; and (v) $18.2 million of writedowns of investments for other than temporary declines in fair value recognized through earnings. During the first nine months of 2017 , VIEs that were required to be consolidated were dissolved. A loss of $4.3 million was recognized representing the difference between the borrowings of such VIEs and the contractual distributions required following the liquidation of the underlying assets. 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 first nine months of 2018 , the $36.9 million of gross realized losses on sales of $1,040.4 million of fixed maturity securities, available for sale included: (i) $26.9 million related to various corporate securities; (ii) $4.0 million related to commercial mortgage-backed securities; and (iii) $6.0 million related to various other investments. Securities are generally sold at a loss following unforeseen issuer-specific events or conditions or shifts in perceived relative values. These reasons include but are not limited to: (i) changes in the investment environment; (ii) expectation that the market value could deteriorate; (iii) our desire to reduce our exposure to an asset class, an issuer or an industry; (iv) prospective or actual changes in credit quality; or (v) changes in expected portfolio cash flows. During the first nine months of 2018 , we recognized $2.1 million of impairment losses recorded in earnings on a mortgage loan due to issuer specific events. During the first nine months of 2017 , we recognized $18.2 million of impairment losses recorded in earnings which included: (i) $5.7 million of writedowns on fixed maturities in the energy sector; (ii) $5.2 million of writedowns related to a real estate investment; and (iii) $7.3 million of writedowns on other investments. We regularly evaluate all of our investments with unrealized losses for possible impairment. Our assessment of whether unrealized losses are "other than temporary" requires significant judgment. Factors considered include: (i) the extent to which fair value is less than the cost basis; (ii) the length of time that the fair value has been less than cost; (iii) whether the unrealized loss is event driven, credit-driven or a result of changes in market interest rates or risk premium; (iv) the near-term prospects for specific events, developments or circumstances likely to affect the value of the investment; (v) the investment's rating and whether the investment is investment-grade and/or has been downgraded since its purchase; (vi) whether the issuer is current on all payments in accordance with the contractual terms of the investment and is expected to meet all of its obligations under the terms of the investment; (vii) whether we intend to sell the investment or it is more likely than not that circumstances will require us to sell the investment before recovery occurs; (viii) the underlying current and prospective asset and enterprise values of the issuer and the extent to which the recoverability of the carrying value of our investment may be affected by changes in such values; (ix) projections of, and unfavorable changes in, cash flows on structured securities including mortgage-backed and asset-backed securities; (x) our best estimate of the value of any collateral; and (xi) other objective and subjective factors. Future events may occur, or additional information may become available, which may necessitate future realized losses in our portfolio. Significant losses could have a material adverse effect on our consolidated financial statements in future periods. The manner in which impairment losses on fixed maturity securities, available for sale, are recognized in the financial statements is dependent on the facts and circumstances related to the specific security. If we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, the security is other-than-temporarily impaired and the full amount of the impairment is recognized as a loss through earnings. If we do not expect to recover the amortized cost basis, we do not plan to sell the security, and if it is not more likely than not that we would be required to sell a security before the recovery of its amortized cost, less any current period credit loss, the recognition of the other-than-temporary impairment is bifurcated. We recognize the credit loss portion in net income and the noncredit loss portion in accumulated other comprehensive income. We estimate the amount of the credit loss component of a fixed maturity security impairment as the difference between amortized cost and the present value of the expected cash flows of the security. The present value is determined using the best estimate of future cash flows discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete an asset-backed or floating-rate security. The methodology and assumptions for establishing the best estimate of future cash flows vary depending on the type of security. For most structured securities, cash flow estimates are based on bond-specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity, prepayment speeds and structural support, including overcollateralization, excess spread, subordination and guarantees. For corporate bonds, cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using bond-specific facts and circumstances. The previous amortized cost basis less the impairment recognized in net income becomes the security's new cost basis. We accrete the new cost basis to the estimated future cash flows over the expected remaining life of the security, except when the security is in default or considered nonperforming. The remaining noncredit impairment, which is recorded in accumulated other comprehensive income, is the difference between the security's estimated fair value and our best estimate of future cash flows discounted at the effective interest rate prior to impairment. The remaining noncredit impairment typically represents changes in the market interest rates, current market liquidity and risk premiums. As of September 30, 2018 , other-than-temporary impairments included in accumulated other comprehensive income totaled $.6 million (before taxes and related amortization). The following table summarizes the amount of credit losses recognized in earnings on fixed maturity securities, available for sale, held at the beginning of the period, for which a portion of the other-than-temporary impairment was also recognized in accumulated other comprehensive income for the three and nine months ended September 30, 2018 and 2017 (dollars in millions): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Credit losses on fixed maturity securities, available for sale, beginning of period $ (.3 ) $ (4.9 ) $ (2.8 ) $ (5.5 ) Add: credit losses on other-than-temporary impairments not previously recognized — — — — Less: credit losses on securities sold .1 — 2.6 1.6 Less: credit losses on securities impaired due to intent to sell (a) — — — — Add: credit losses on previously impaired securities — — — (1.0 ) Less: increases in cash flows expected on previously impaired securities — — — — Credit losses on fixed maturity securities, available for sale, end of period $ (.2 ) $ (4.9 ) $ (.2 ) $ (4.9 ) __________ (a) Represents securities for which the amount previously recognized in accumulated other comprehensive income was recognized in earnings because we intend to sell the security or we more likely than not will be required to sell the security before recovery of its amortized cost basis. Gross Unrealized Investment Losses Our investment strategy is to maximize, over a sustained period and within acceptable parameters of quality and risk, investment income and total investment return through active strategic asset allocation and investment management. Accordingly, we may sell securities at a gain or a loss to enhance the projected total return of the portfolio as market opportunities change, to reflect changing perceptions of risk, or to better match certain characteristics of our investment portfolio with the corresponding characteristics of our insurance liabilities. The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at September 30, 2018 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses United States Treasury securities and obligations of United States government corporations and agencies $ 29.6 $ (.3 ) $ 9.9 $ (.2 ) $ 39.5 $ (.5 ) States and political subdivisions 174.2 (3.8 ) 16.8 (.8 ) 191.0 (4.6 ) Debt securities issued by foreign governments 24.4 (1.2 ) 4.3 (.2 ) 28.7 (1.4 ) Corporate securities 4,114.8 (178.8 ) 315.9 (32.0 ) 4,430.7 (210.8 ) Asset-backed securities 512.9 (4.1 ) 165.3 (4.1 ) 678.2 (8.2 ) Collateralized debt obligations 242.7 (2.0 ) — — 242.7 (2.0 ) Commercial mortgage-backed securities 431.8 (6.4 ) 209.3 (13.9 ) 641.1 (20.3 ) Mortgage pass-through securities .1 — — — .1 — Collateralized mortgage obligations 95.7 (4.3 ) 16.8 (.8 ) 112.5 (5.1 ) Total fixed maturities, available for sale $ 5,626.2 $ (200.9 ) $ 738.3 $ (52.0 ) $ 6,364.5 $ (252.9 ) The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at December 31, 2017 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses United States Treasury securities and obligations of United States government corporations and agencies $ 28.2 $ (.2 ) $ .7 $ — $ 28.9 $ (.2 ) States and political subdivisions 18.3 (.1 ) 14.9 (.3 ) 33.2 (.4 ) Debt securities issued by foreign governments 7.7 (.1 ) 5.4 (.1 ) 13.1 (.2 ) Corporate securities 470.5 (6.8 ) 359.7 (20.2 ) 830.2 (27.0 ) Asset-backed securities 601.4 (2.0 ) 122.2 (2.1 ) 723.6 (4.1 ) Collateralized debt obligations 3.0 — — — 3.0 — Commercial mortgage-backed securities 276.8 (1.7 ) 218.2 (8.6 ) 495.0 (10.3 ) Collateralized mortgage obligations 20.5 (.2 ) 11.5 (.1 ) 32.0 (.3 ) Total fixed maturities, available for sale $ 1,426.4 $ (11.1 ) $ 732.6 $ (31.4 ) $ 2,159.0 $ (42.5 ) Equity securities $ 58.7 $ (1.7 ) $ 21.2 $ (1.3 ) $ 79.9 $ (3.0 ) Based on management's current assessment of investments with unrealized losses at September 30, 2018 , the Company believes the issuers of the securities will continue to meet their obligations. While we do not have the intent to sell securities with unrealized losses and it is not more likely than not that we will be required to sell securities with unrealized losses prior to their anticipated recovery, our intent on an individual security may change, based upon market or other unforeseen developments. In such instances, if a loss is recognized from a sale subsequent to a balance sheet date due to these unexpected developments, the loss is recognized in the period in which we had the intent to sell the security before its anticipated recovery.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE A reconciliation of net income (loss) and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Net income (loss) for basic and diluted earnings per share $ (529.8 ) $ 100.8 $ (343.3 ) $ 246.5 Shares: Weighted average shares outstanding for basic earnings per share 164,551 168,684 165,903 170,890 Effect of dilutive securities on weighted average shares: Stock options, restricted stock and performance units — 2,298 — 1,910 Weighted average shares outstanding for diluted earnings per share 164,551 170,982 165,903 172,800 In the three and nine months ended September 30, 2018 , equivalent common shares of 2,146,000 and 2,214,000 , respectively, (related to stock options, restricted stock and performance units) were not included in the diluted weighted average shares outstanding, because their inclusion would have been antidilutive due to the net loss recognized by the Company in such periods. Basic earnings per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Restricted shares (including our performance units) are not included in basic earnings per share until vested. Diluted earnings per share reflect the potential dilution that could occur if outstanding stock options were exercised and restricted stock was vested. The dilution from options and restricted shares is calculated using the treasury stock method. Under this method, we assume the proceeds from the exercise of the options (or the unrecognized compensation expense with respect to restricted stock and performance units) will be used to purchase shares of our common stock at the average market price during the period, reducing the dilutive effect of the exercise of the options (or the vesting of the restricted stock and performance units).

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS The Company manages its business through the following operating segments: Bankers Life, Washington National and Colonial Penn, which are defined on the basis of product distribution; long-term care in run-off; and corporate operations, comprised of holding company activities and certain noninsurance company businesses. On September 27, 2018, the Company completed a long-term care reinsurance transaction pursuant to which its wholly-owned subsidiary, Bankers Life and Casualty Company ("Bankers Life"), entered into an agreement with Wilton Reassurance Company ("Wilton Re") to cede all of its legacy (prior to 2003) comprehensive and nursing home long-term care policies (with statutory reserves of approximately $2.7 billion ) through 100% indemnity coinsurance, as further described in the note to the consolidated financial statements entitled "Reinsurance". In anticipation of the reinsurance agreement, the Company reorganized its business segments to move the block to be ceded from the "Bankers Life segment" to the "Long-term care in run-off segment" in the third quarter of 2018. As a result of the reorganization of the Company's business segments, total assets of $2.8 billion were transferred from the "Banker Life segment" to the "Long-term care in run-off segment" as of September 30, 2018 . All prior period segment disclosures have been revised to conform to management's current view of the Company's operating segments. We measure segment performance by excluding net realized investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes related to the agent deferred compensation plan, loss related to reinsurance transaction, income taxes and other non-operating items consisting primarily of earnings attributable to VIEs ("pre-tax operating earnings") because we believe that this performance measure is a better indicator of the ongoing business and trends in our business. Our primary investment focus is on investment income to support our liabilities for insurance products as opposed to the generation of net realized investment gains (losses), and a long-term focus is necessary to maintain profitability over the life of the business. The net realized investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes related to the agent deferred compensation plan and other non-operating items consisting primarily of earnings attributable to VIEs depend on market conditions or represent unusual items that do not necessarily relate to the underlying business of our segments. Net realized investment gains (losses) and fair value changes in embedded derivative liabilities (net of related amortization) may affect future earnings levels since our underlying business is long-term in nature and changes in our investment portfolio may impact our ability to earn the assumed interest rates needed to maintain the profitability of our business. Operating information by segment is as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Revenues: Bankers Life: Insurance policy income: Annuities $ 4.3 $ 3.7 $ 13.7 $ 15.5 Health 255.8 259.4 769.0 780.5 Life 103.9 103.7 312.8 310.4 Net investment income (a) 256.9 222.7 661.2 658.9 Fee revenue and other income (a) 10.7 11.3 40.9 32.5 Total Bankers Life revenues 631.6 600.8 1,797.6 1,797.8 Washington National: Insurance policy income: Annuities .4 .5 1.1 1.6 Health 163.7 160.4 491.5 480.3 Life 6.7 6.5 20.2 20.1 Net investment income (a) 69.9 68.0 199.4 201.9 Fee revenue and other income (a) .2 .3 .7 .8 Total Washington National revenues 240.9 235.7 712.9 704.7 Colonial Penn: Insurance policy income: Health .4 .5 1.3 1.6 Life 74.7 72.6 222.4 217.5 Net investment income (a) 11.1 11.0 33.4 33.1 Fee revenue and other income (a) .5 .3 1.4 .9 Total Colonial Penn revenues 86.7 84.4 258.5 253.1 Long-term care in run-off: Insurance policy income - health 47.0 52.0 144.6 159.7 Net investment income (a) 54.1 54.7 164.2 168.0 Total Long-term care in run-off revenues 101.1 106.7 308.8 327.7 Corporate operations: Net investment income 8.0 7.0 13.2 24.8 Fee and other income 1.6 1.8 4.9 6.5 Total corporate revenues 9.6 8.8 18.1 31.3 Total revenues $ 1,069.9 $ 1,036.4 $ 3,095.9 $ 3,114.6 (continued on next page) (continued from previous page) Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Expenses: Bankers Life: Insurance policy benefits $ 390.5 $ 362.1 $ 1,080.5 $ 1,086.7 Amortization 37.3 35.9 119.4 118.3 Interest expense on investment borrowings 7.9 5.3 21.5 14.3 Other operating costs and expenses 101.5 102.2 313.6 310.4 Total Bankers Life expenses 537.2 505.5 1,535.0 1,529.7 Washington National: Insurance policy benefits 143.5 144.7 423.7 436.7 Amortization 14.0 14.3 42.9 43.9 Interest expense on investment borrowings 3.0 1.7 7.8 4.5 Other operating costs and expenses 50.1 47.5 148.5 145.0 Total Washington National expenses 210.6 208.2 622.9 630.1 Colonial Penn: Insurance policy benefits 49.8 47.7 157.1 150.8 Amortization 4.2 3.9 12.9 11.9 Interest expense on investment borrowings .3 .3 1.0 .7 Other operating costs and expenses 26.3 23.5 77.5 73.0 Total Colonial Penn expenses 80.6 75.4 248.5 236.4 Long-term care in run-off: Insurance policy benefits 91.3 86.5 259.9 257.6 Amortization 2.1 2.8 7.0 8.0 Other operating costs and expenses 5.6 6.8 19.3 19.9 Total Long-term care in run-off expenses 99.0 96.1 286.2 285.5 Corporate operations: Interest expense on corporate debt 12.1 11.7 35.9 34.8 Other operating costs and expenses 21.4 23.7 59.4 68.3 Total corporate expenses 33.5 35.4 95.3 103.1 Total expenses 960.9 920.6 2,787.9 2,784.8 Pre-tax operating earnings by segment: Bankers Life 94.4 95.3 262.6 268.1 Washington National 30.3 27.5 90.0 74.6 Colonial Penn 6.1 9.0 10.0 16.7 Long-term care in run-off 2.1 10.6 22.6 42.2 Corporate operations (23.9 ) (26.6 ) (77.2 ) (71.8 ) Pre-tax operating earnings $ 109.0 $ 115.8 $ 308.0 $ 329.8 ___________________ (a) It is not practicable to provide additional components of revenue by product or services. A reconciliation of segment revenues and expenses to consolidated revenues and expenses and net income (loss) is as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Total segment revenues $ 1,069.9 $ 1,036.4 $ 3,095.9 $ 3,114.6 Net realized investment gains (losses) 31.2 29.2 27.0 52.3 Net realized gains on the transfer of assets related to reinsurance transaction 363.4 — 363.4 — Revenues related to VIEs 16.7 13.7 49.0 40.2 Consolidated revenues 1,481.2 1,079.3 3,535.3 3,207.1 Total segment expenses 960.9 920.6 2,787.9 2,784.8 Insurance policy benefits - fair value changes in embedded derivative liabilities (28.2 ) (2.9 ) (69.5 ) 9.8 Amortization related to fair value changes in embedded derivative liabilities 5.3 .6 13.2 (1.8 ) Amortization related to net realized investment gains (.5 ) .7 (.1 ) 1.0 Expenses related to VIEs 15.9 17.0 49.1 44.8 Fair value changes related to agent deferred compensation plan — 13.4 (11.0 ) 13.4 Loss related to reinsurance transaction 1,067.6 — 1,067.6 — Consolidated expenses 2,021.0 949.4 3,837.2 2,852.0 Income (loss) before tax (539.8 ) 129.9 (301.9 ) 355.1 Income tax expense (benefit): Tax expense (benefit) on period income (loss) (114.8 ) 44.1 (63.4 ) 123.6 Valuation allowance for deferred tax assets and other tax items 104.8 (15.0 ) 104.8 (15.0 ) Net income (loss) $ (529.8 ) $ 100.8 $ (343.3 ) $ 246.5

ACCOUNTING FOR DERIVATIVES

ACCOUNTING FOR DERIVATIVES	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
ACCOUNTING FOR DERIVATIVES	ACCOUNTING FOR DERIVATIVES Our freestanding and embedded derivatives, which are not designated as hedging instruments, are held at fair value and are summarized as follows (dollars in millions): Fair value September 30, December 31, 2017 Assets: Other invested assets: Fixed index call options $ 143.5 $ 170.2 Reinsurance receivables (6.4 ) (1.4 ) Total assets $ 137.1 $ 168.8 Liabilities: Future policy benefits: Fixed index products $ 1,370.0 $ 1,334.8 Total liabilities $ 1,370.0 $ 1,334.8 Our fixed index annuity products provide a guaranteed minimum rate of return and a higher potential return that is based on a percentage (the "participation rate") of the amount of increase in the value of a particular index, such as the Standard & Poor's 500 Index, over a specified period. Typically, on each policy anniversary date, a new index period begins. We are generally able to change the participation rate at the beginning of each index period during a policy year, subject to contractual minimums. The Company accounts for the options attributed to the policyholder for the estimated life of the contract as embedded derivatives. These accounting requirements often create volatility in the earnings from these products. We typically buy call options (including call spreads) referenced to the applicable indices in an effort to offset or hedge potential increases to policyholder benefits resulting from increases in the particular index to which the policy's return is linked. The notional amount of these options was $3.0 billion at both September 30, 2018 and December 31, 2017 . We are required to establish an embedded derivative related to a modified coinsurance agreement pursuant to which we assume the risks of a block of health insurance business. The embedded derivative represents the mark-to-market adjustment for approximately $125 million in underlying investments held by the ceding reinsurer. We purchase certain fixed maturity securities that contain embedded derivatives that are required to be held at fair value on the consolidated balance sheet. We have elected the fair value option to carry the entire security at fair value with changes in fair value recognized in net income. The following table provides the pre-tax gains (losses) 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, 2018 2017 2018 2017 Net investment income (loss) from policyholder and other special-purpose portfolios: Fixed index call options $ 59.0 $ 30.6 $ 66.8 $ 95.4 Net realized gains (losses): Embedded derivative related to modified coinsurance agreement (.8 ) .3 (5.0 ) 2.4 Insurance policy benefits: Embedded derivative related to fixed index annuities 34.6 12.4 87.6 17.2 Total $ 92.8 $ 43.3 $ 149.4 $ 115.0 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, 2018 , 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. Exchange-traded derivatives require margin accounts which we offset. The following table summarizes information related to derivatives with master netting arrangements or collateral as of September 30, 2018 and December 31, 2017 (dollars in millions): Gross amounts not offset in the balance sheet Gross amounts recognized Gross amounts offset in the balance sheet Net amounts of assets presented in the balance sheet Financial instruments Cash collateral received Net amount September 30, 2018: Fixed index call options $ 143.5 $ — $ 143.5 $ — $ — $ 143.5 December 31, 2017: Fixed index call options 170.2 — 170.2 — — 170.2

REINSURANCE

REINSURANCE	9 Months Ended
	Sep. 30, 2018
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE On September 27, 2018, the Company completed a long-term care reinsurance transaction pursuant to which its wholly-owned subsidiary, Bankers Life, entered into an agreement with Wilton Re to cede all of its legacy (prior to 2003) comprehensive and nursing home long-term care policies (with statutory reserves of approximately $2.7 billion ) through 100% indemnity coinsurance. Bankers Life paid a ceding commission of $825 million to reinsure the block, funded through excess capital in the insurance subsidiaries and at the holding company. Bankers Life transferred to Wilton Re assets equal to the statutory liabilities supporting the block plus the ceding commission (subject to a customary post-closing adjustment). In anticipation of the reinsurance agreement, the Company reorganized its business segments to move the block to be ceded from the "Bankers Life segment" to the "Long-term care in run-off segment" in the third quarter of 2018. Accordingly, the Company will evaluate and test for loss recognition separately for the ceded block included in the "Long-term care in run-off segment". CNO recognized a charge related to the transaction of $661.1 million , net of taxes and gains recognized on the assets transferred to Wilton Re. The charge is primarily attributable to loss recognition on the block due to the ceding commission. Including cash flows related to reinsurance in loss recognition testing is consistent with the Company's past practices and policies. In addition to the reinsurance agreement, Bankers Life and another CNO subsidiary entered into certain other agreements with Wilton Re, including a trust agreement, an administrative services agreement and a transition services agreement. Wilton Re established a trust account for the benefit of Bankers Life to secure its obligations under the coinsurance agreement. The trust account is required to hold qualified assets with book values equal to the statutory liabilities of the block plus an additional amount, initially $500 million , which declines over time. The cost of reinsurance ceded totaled $25.4 million and $27.1 million in the third quarters of 2018 and 2017 , respectively, and $76.0 million and $79.9 million in the first nine months of 2018 and 2017 , respectively. We deduct this cost from insurance policy income. Reinsurance recoveries netted against insurance policy benefits totaled $19.4 million and $22.6 million in the third quarters of 2018 and 2017 , respectively, and $63.6 million and $69.1 million in the first nine months of 2018 and 2017 , 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 $7.0 million and $7.4 million in the third quarters of 2018 and 2017 , respectively, and $21.2 million and $23.1 million in the first nine months of 2018 and 2017 , respectively. Insurance policy benefits related to reinsurance assumed totaled $8.6 million and $10.5 million in the third quarters of 2018 and 2017 , respectively, and $26.6 million and $34.0 million in the first nine months of 2018 and 2017 , respectively.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company's interim tax expense is based upon the estimated annual effective tax rate for the respective period. Under authoritative guidance, certain items are required to be excluded from the estimated annual effective tax rate calculation. Such items include changes in judgment about the realizability of deferred tax assets resulting from changes in projections of income expected to be available in future years, and items deemed to be unusual, infrequent, or that can not be reliably estimated. In these cases, the actual tax expense or benefit applicable to that item is treated discretely and is reported in the same period as the related item. The components of income tax expense are as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Current tax expense (benefit) $ (16.9 ) $ 25.9 $ 3.8 $ 68.5 Deferred tax expense 50.0 18.2 80.7 55.1 Valuation allowance applicable to current year income — (2.2 ) — (2.2 ) Income tax expense calculated based on estimated annual effective tax rate 33.1 41.9 84.5 121.4 Tax benefit on long-term care reinsurance transaction (147.9 ) — (147.9 ) — Income tax expense on discrete items: Change in valuation allowance 104.8 (12.8 ) 104.8 (12.8 ) Total income tax expense (benefit) $ (10.0 ) $ 29.1 $ 41.4 $ 108.6 On December 22, 2017, the Tax Cuts and Jobs Act (the "Tax Reform Act") was signed into law and enacted a broad range of changes to the Internal Revenue Code (the "Code") including individual and corporate reforms and numerous changes to U.S. international tax provisions. The Tax Reform Act reduced the corporate tax rate to 21 percent from 35 percent effective January 1, 2018, and made significant changes to the taxation of life insurance companies. Among other things, the Tax Reform Act modified the computation of life insurance reserves, increased the capitalization rate and extended the amortization period for policy acquisition costs, imposed limitations on the deductibility of performance-based compensation to "covered employees" and interest expense, and allowed for the expensing of certain capital expenditures. For net operating losses ("NOLs") arising after December 31, 2017, the Tax Reform Act limits the ability to utilize NOL carryforwards to 80% of taxable income. In addition, NOLs arising after 2017 can be carried forward indefinitely, but carryback is prohibited. As a result of the reduction in the federal corporate income tax rate, we reduced the value of our net deferred tax assets by $172.5 million (net of the reduction in the valuation allowance for deferred tax assets) which was recorded as additional income tax expense in the fourth quarter of 2017. The $172.5 million adjustment to our net deferred tax assets was a provisional amount as defined in the SEC's Staff Accounting Bulletin No. 118 ("SAB 118"), issued in December 2017 to address complexities in completing the calculations resulting from the Tax Reform Act. Although we were able to make a reasonable estimate of the impact of the Tax Reform Act based on the information available, we have not analyzed the calculations in sufficient detail to complete the accounting process, including the analysis of the calculations of life insurance tax reserves and future taxable income used to estimate the deferred tax valuation allowance. SAB 118 provides guidance on accounting for the effects of the Tax Reform Act when our accounting process is incomplete but we are able to determine a reasonable estimate. A final determination is required to be made within a measurement period not to extend beyond one year from the enactment date of the Tax Reform Act. We continue to analyze our estimate of the impact of the Tax Reform Act and expect the process to be completed in the fourth quarter of 2018. A reconciliation of the U.S. statutory corporate tax rate to the estimated annual effective rate, reflected in the consolidated statement of operations is as follows: Nine months ended September 30, 2018 2017 U.S. statutory corporate rate 21.0 % 35.0 % Valuation allowance (34.7 ) (.6 ) Non-taxable income and nondeductible benefits, net .4 (1.5 ) State taxes (.4 ) 1.3 Estimated annual effective tax rate (13.7 )% 34.2 % The components of the Company's income tax assets and liabilities are summarized below (dollars in millions): September 30, December 31, Deferred tax assets: Net federal operating loss carryforwards $ 685.0 $ 489.6 Net state operating loss carryforwards 19.5 9.3 Investments — 4.3 Insurance liabilities 301.0 415.8 Other 43.8 48.9 Gross deferred tax assets 1,049.3 967.9 Deferred tax liabilities: Investments (9.6 ) — Present value of future profits and deferred acquisition costs (174.2 ) (165.4 ) Accumulated other comprehensive income (111.7 ) (337.2 ) Gross deferred tax liabilities (295.5 ) (502.6 ) Net deferred tax assets before valuation allowance 753.8 465.3 Valuation allowance (193.9 ) (89.1 ) Net deferred tax assets 559.9 376.2 Current income taxes prepaid (accrued) 17.9 (9.3 ) Income tax assets, net $ 577.8 $ 366.9 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, shall be considered to determine whether, based on the weight of that evidence, a valuation allowance for deferred tax assets is needed. This assessment requires significant judgment and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of carryforward periods, our experience with operating loss and tax credit carryforwards expiring unused, and tax planning strategies. We evaluate the need to establish a valuation allowance for our deferred income tax assets on an ongoing basis. The realization of our deferred tax assets depends upon generating sufficient future taxable income of the appropriate type during the periods in which our temporary differences become deductible and before our NOLs expire. Based on our assessment, it appears more likely than not that $559.9 million of our net deferred tax assets of $753.8 million will be realized through future taxable earnings. Accordingly, we have established a deferred tax valuation allowance of $193.9 million at September 30, 2018 ( $182.2 million of which relates to our net federal operating loss carryforwards and $11.7 million relates to state operating loss carryforwards). As a result of the completion of the long-term care reinsurance transaction in the third quarter of 2018, we increased the valuation allowance for deferred tax assets by $104.8 million . The increase in life company NOLs generated by the tax loss on the reinsurance transaction is expected to impact our ability to utilize non-life NOLs in the future. Accordingly, we increased the valuation allowance for deferred taxes by $104.8 million . We will continue to assess the need for a valuation allowance in the future. If future results are less than projected, an increase to the valuation allowance may be required to reduce the deferred tax asset, which could have a material impact on our results of operations in the period in which it is recorded. We use a deferred tax valuation model to assess the need for a valuation allowance. Our model is adjusted to reflect changes in our projections of future taxable income including changes resulting from the Tax Reform Act, investment strategies, the impact of the sale or reinsurance of business and the recapture of business previously ceded. Our estimates of future taxable income are based on evidence we consider to be objective and verifiable. Our projection of future taxable income for purposes of determining the valuation allowance is based on our adjusted average annual taxable income which is assumed to increase by 3 percent for the next five years, and level taxable income is assumed thereafter. In the projections used for our analysis, our adjusted average taxable income of approximately $345 million consisted of $85 million of non-life taxable income and $260 million of life taxable income. Recovery of our deferred tax asset is dependent on achieving the level of future taxable income projected in our deferred tax valuation model and failure to do so could result in an increase in the valuation allowance in a future period. Any future increase in the valuation allowance may result in additional income tax expense and reduce shareholders' equity, and such an increase could have a significant impact upon our earnings in the future. The Code limits the extent to which losses realized by a non-life entity (or entities) may offset income from a life insurance company (or companies) to the lesser of: (i) 35 percent of the income of the life insurance company; or (ii) 35 percent of the total loss of the non-life entities (including NOLs of the non-life entities). This limitation is the primary reason a valuation allowance for NOLs is required. There is no similar limitation on the extent to which losses realized by a life insurance entity (or entities) may offset income from a non-life entity (or entities). Section 382 of the Code imposes limitations on a corporation's ability to use its NOLs when the company undergoes a 50 percent ownership change over a three-year period. Future transactions and the timing of such transactions could cause an ownership change for Section 382 income tax purposes. Such transactions may include, but are not limited to, additional repurchases under our securities repurchase program, issuances of common stock and acquisitions or sales of shares of CNO stock by certain holders of our shares, including persons who have held, currently hold or may accumulate in the future five percent or more of our outstanding common stock for their own account. Many of these transactions are beyond our control. If an additional ownership change were to occur for purposes of Section 382, we would be required to calculate an annual restriction on the use of our NOLs to offset future taxable income. The annual restriction would be calculated based upon the value of CNO's equity at the time of such ownership change, multiplied by a federal long-term tax exempt rate ( 2.32 percent at September 30, 2018 ), and the annual restriction could limit our ability to use a substantial portion of our NOLs to offset future taxable income. We regularly monitor ownership change (as calculated for purposes of Section 382) and, as of September 30, 2018 , we were below the 50 percent ownership change level that would trigger further impairment of our ability to utilize our NOLs. Pursuant to the Tax Reform Act, NOLs generated subsequent to 2017 do not have an expiration date. We have $3.3 billion of federal NOLs as of September 30, 2018 , as summarized below (dollars in millions): Net operating loss Year of expiration carryforwards 2023 $ 1,744.8 2025 85.2 2026 149.9 2027 10.8 2028 80.3 2029 213.2 2030 .3 2031 .2 2032 44.4 2033 .6 2034 .9 2035 .8 Total federal non-life NOLs 2,331.4 Post 2017 life NOLs with no expiration 930.7 Total federal NOLs $ 3,262.1 The loss on the reinsurance transaction that was completed in September 2018 resulted in a life NOL of $930.7 million . The life NOL is expected to be used to offset 80 percent of our future life insurance company taxable income due to limitations prescribed in the Tax Reform Act. Our life NOL has no expiration date and we expect it to be fully utilized over the next three to four years, depending on the level of life taxable income during such period. Our non-life NOLs can be used to offset 35 percent of remaining life insurance company taxable income after application of the life NOLs, until all non-life NOLs are utilized or expire. At September 30, 2018 , we also had deferred tax assets related to NOLs for state income taxes of $19.5 million . The related state NOLs are available to offset future state taxable income in certain states through 2033. The Company’s various state income tax returns are generally open for tax years beginning in 2015, 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.

NOTES PAYABLE - DIRECT CORPORAT

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS	NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS The following notes payable were direct corporate obligations of the Company as of September 30, 2018 and December 31, 2017 (dollars in millions): September 30, December 31, 4.500% Senior Notes due May 2020 $ 325.0 $ 325.0 5.250% Senior Notes due May 2025 500.0 500.0 Revolving Credit Agreement (as defined below) 100.0 100.0 Unamortized debt issue costs (8.8 ) (10.4 ) Direct corporate obligations $ 916.2 $ 914.6 Revolving Credit Agreement On May 19, 2015, the Company entered into a $150.0 million four -year unsecured revolving credit agreement with KeyBank National Association, as administrative agent (the "Agent"), and the lenders from time to time party thereto. On May 19, 2015, the Company made an initial drawing of $100.0 million under the Revolving Credit Agreement, resulting in $50.0 million available for additional borrowings. On October 13, 2017, the Company entered into an amendment and restatement agreement (the "Amendment Agreement") with respect to its revolving credit agreement (as amended by the Amendment Agreement, the "Revolving Credit Agreement"). The Amendment Agreement, among other things, increased the total commitments available under the revolving credit facility from $150.0 million to $250.0 million , increased the aggregate amount of additional incremental loans the Company may incur from $50.0 million to $100.0 million and extended the maturity date of the revolving credit facility from May 19, 2019 to the earlier of October 13, 2022 and the date that is six months prior to the maturity date of the 2020 Notes, which is November 30, 2019. The interest rates with respect to loans under the Revolving Credit Agreement are based on, at the Company's option, a floating base rate (defined as a per annum rate equal to the highest of: (i) the federal funds rate plus 0.50% ; (ii) the "prime rate" of the Agent; and (iii) the eurodollar rate for a one-month interest period plus an applicable margin based on the Company's unsecured debt rating), or a eurodollar rate plus an applicable margin based on the Company's unsecured debt rating. The margins under the Revolving Credit Agreement range from 1.375 percent to 2.125 percent , in the case of loans at the eurodollar rate, and 0.375 percent to 1.125 percent , in the case of loans at the base rate. At September 30, 2018 , the interest rate on the amounts outstanding under the Revolving Credit Agreement was 4.12 percent . In addition, the daily average undrawn portion of the Revolving Credit Agreement accrues a commitment fee payable quarterly in arrears. The applicable margin for, and the commitment fee applicable to, the Revolving Credit Agreement, will be adjusted from time to time pursuant to a ratings-based pricing grid. The Revolving Credit Agreement requires the Company to maintain (each as calculated in accordance with the Revolving Credit Agreement): (i) a debt to total capitalization ratio of not more than 35.0 percent (such ratio was 22.6 percent at September 30, 2018 ); (ii) an aggregate ratio of total adjusted capital to company action level risk-based capital for the Company's insurance subsidiaries of not less than 250 percent (such ratio was approximately 450 percent at September 30, 2018 ); and (iii) a minimum consolidated net worth of not less than the sum of (x) $2,674 million plus (y) 50.0 percent of the net equity proceeds received by the Company from the issuance and sale of equity interests in the Company (the Company's consolidated net worth was $3,619.9 million at September 30, 2018 compared to the minimum requirement of $2,687.2 million ). Scheduled Repayment of our Direct Corporate Obligations The scheduled repayment of our direct corporate obligations was as follows at September 30, 2018 (dollars in millions): Year ending September 30, 2019 $ — 2020 425.0 2021 — 2022 — 2023 — Thereafter 500.0 $ 925.0

INVESTMENT BORROWINGS

INVESTMENT BORROWINGS	9 Months Ended
	Sep. 30, 2018
Investment Borrowings [Abstract]
INVESTMENT BORROWINGS	INVESTMENT BORROWINGS Three of the Company's insurance subsidiaries (Washington National Insurance Company ("Washington National"), Bankers Life and Colonial Penn Life Insurance Company ("Colonial Penn")) are members of the Federal Home Loan Bank ("FHLB"). As members of the FHLB, our insurance subsidiaries have the ability to borrow on a collateralized basis from the FHLB. We are required to hold certain minimum amounts of FHLB common stock as a condition of membership in the FHLB, and additional amounts based on the amount of the borrowings. New guidance effective January 1, 2018, requiring equity investments to be measured at fair value (as described in the note entitled "Recently Issued Accounting Standards - Adopted Accounting Standards") do not apply to FHLB common stock and prohibit such investments from being classified as equity securities subject to the new guidance. Accordingly, we have classified our investment in the FHLB common stock as other invested assets. In order to conform to the current presentation, the prior period investment in the FHLB common stock has been reclassified to other invested assets. At September 30, 2018 , the carrying value of the FHLB common stock was $71.1 million . As of September 30, 2018 , collateralized borrowings from the FHLB totaled $1.6 billion and the proceeds were used to purchase fixed maturity securities. The borrowings are classified as investment borrowings in the accompanying consolidated balance sheet. The borrowings are collateralized by investments with an estimated fair value of $2.0 billion at September 30, 2018 , which are maintained in a custodial account for the benefit of the FHLB. Substantially all of such investments are classified as fixed maturities, available for sale, in our consolidated balance sheet. The following summarizes the terms of the borrowings from the FHLB by our insurance subsidiaries (dollars in millions): Amount Maturity Interest rate at borrowed date September 30, 2018 $ 50.0 February 2019 Variable rate – 2.405% 21.8 July 2019 Variable rate – 2.672% 15.0 October 2019 Variable rate – 2.850% 50.0 May 2020 Variable rate – 2.678% 21.8 June 2020 Fixed rate – 1.960% 25.0 September 2020 Variable rate – 2.991% 100.0 September 2020 Variable rate – 2.876% 50.0 September 2020 Variable rate – 2.902% 75.0 September 2020 Variable rate – 2.506% 100.0 October 2020 Variable rate – 2.453% 50.0 December 2020 Variable rate – 2.814% 100.0 July 2021 Variable rate – 2.889% 100.0 July 2021 Variable rate – 2.859% 28.2 August 2021 Fixed rate – 2.550% 57.7 August 2021 Variable rate - 2.871% 125.0 August 2021 Variable rate – 2.696% 50.0 September 2021 Variable rate – 2.851% 22.0 May 2022 Variable rate – 2.665% 100.0 May 2022 Variable rate – 2.505% 10.0 June 2022 Variable rate – 2.941% 50.0 July 2022 Variable rate – 2.703% 50.0 July 2022 Variable rate – 2.722% 50.0 July 2022 Variable rate – 2.719% 50.0 August 2022 Variable rate – 2.733% 50.0 December 2022 Variable rate – 2.621% 50.0 December 2022 Variable rate – 2.621% 24.1 March 2023 Fixed rate – 2.160% 50.0 July 2023 Variable rate – 2.548% 100.0 July 2023 Variable rate – 2.548% 20.5 June 2025 Fixed rate – 2.940% $ 1,646.1 The variable rate borrowings are pre-payable on each interest reset date without penalty. The fixed rate borrowings are pre-payable subject to payment of a yield maintenance fee based on prevailing market interest rates. At September 30, 2018 , the aggregate yield maintenance fee to prepay all fixed rate borrowings was $1.0 million . Interest expense of $30.3 million and $19.5 million in the first nine months of 2018 and 2017 , respectively, was recognized related to total borrowings from the FHLB.

CHANGES IN COMMON STOCK

CHANGES IN COMMON STOCK	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
CHANGES IN COMMON STOCK	CHANGES IN COMMON STOCK Changes in the number of shares of common stock outstanding were as follows (shares in thousands): Balance, December 31, 2017 166,858 Treasury stock purchased and retired (2,998 ) Stock options exercised 327 (a) Restricted and performance stock vested 447 (b) Balance, September 30, 2018 164,634 ____________________ (a) Such amount was reduced by 69 thousand shares which were tendered to the Company for the payment of the exercise price and required federal and state tax withholdings. (b) Such amount was reduced by 239 thousand shares which were tendered to the Company for the payment of required federal and state tax withholdings owed on the vesting of restricted and performance stock. In the first nine months of 2018 , we repurchased 3.0 million shares of common stock for $60.5 million under our securities repurchase program. The Company had remaining repurchase authority of $325.1 million as of September 30, 2018 . In the first nine months of 2018 , dividends declared on common stock totaled $48.6 million ( $0.29 per common share). In May 2018, the Company increased its quarterly common stock dividend to $0.10 per share from $0.09 per share.

SALES INDUCEMENTS

SALES INDUCEMENTS	9 Months Ended
	Sep. 30, 2018
Deferred Sales Inducements [Abstract]
SALES INDUCEMENTS	SALES INDUCEMENTS Certain of our annuity products offer sales inducements to contract holders in the form of enhanced crediting rates or bonus payments in the initial period of the contract. Certain of our life insurance products offer persistency bonuses credited to the contract holder's balance after the policy has been outstanding for a specified period of time. These enhanced rates and persistency bonuses are considered sales inducements in accordance with GAAP. Such amounts are deferred and amortized in the same manner as deferred acquisition costs. Sales inducements deferred totaled $4.8 million and $1.5 million during the nine months ended September 30, 2018 and 2017 , respectively. Amounts amortized totaled $7.6 million and $6.6 million during the nine months ended September 30, 2018 and 2017 , respectively. The unamortized balance of deferred sales inducements was $39.7 million and $42.5 million at September 30, 2018 and December 31, 2017 , respectively.

OUT-OF-PERIOD ADJUSTMENTS

OUT-OF-PERIOD ADJUSTMENTS	9 Months Ended
	Sep. 30, 2018
Other Liabilities Disclosure [Abstract]
OUT-OF-PERIOD ADJUSTMENTS	OUT-OF-PERIOD ADJUSTMENTS In the first nine months of 2018 , we recorded the net effect of out-of-period adjustments related to the calculation of certain insurance liabilities which increased insurance policy benefits by $2.5 million (of which, $1.4 million related to long-term care reserves in the Bankers Life segment and $1.1 million related to a closed block of payout annuities in the Colonial Penn segment), decreased tax expense by $.5 million and decreased our net income (loss) by $2.0 million (or 1 cent per diluted share). We evaluated these adjustments taking into account both qualitative and quantitative factors and considered the impact of these adjustments in relation to each period, as well as the periods in which they originated. The impact of recognizing these adjustments in prior years was not significant to any individual period. Management believes these adjustments are immaterial to the consolidated financial statements and all previously issued financial statements.

RECENTLY ISSUED ACCOUNTING STAN

RECENTLY ISSUED ACCOUNTING STANDARDS	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS Pending Accounting Standards In February 2016, the Financial Accounting Standards Board (the "FASB") issued authoritative guidance related to accounting for leases, requiring lessees to report most leases on their balance sheets, regardless of whether the lease is classified as a finance lease or an operating lease. For lessees, the initial lease liability is equal to the present value of future lease payments, and a corresponding asset, adjusted for certain items, is also recorded. Expense recognition for lessees will remain similar to current accounting requirements for capital and operating leases. The accounting applied by a lessor is largely unchanged from that applied under previous GAAP. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The guidance will be effective for the Company for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Based on lease contracts in effect at September 30, 2018 , the Company's analysis currently indicates that the primary impact of implementation of the new leasing guidance will be the recognition of a "right to use" asset and a "lease liability" of approximately $55 million . The cumulative effect adjustment to retained earnings as of January 1, 2019 is not expected to be material. In June 2016, the FASB issued authoritative guidance related to the measurement of credit losses on financial instruments. The new guidance replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to form credit loss estimates. The guidance will be effective for the Company for fiscal years beginning in 2020, including interim periods within the fiscal year. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company has not yet determined the expected impact of adoption of this guidance on its consolidated financial position, results of operations or cash flows. In January 2017, the FASB issued authoritative guidance that removes Step 2 of the goodwill impairment test under current guidance, which requires a hypothetical purchase price allocation. The new guidance requires an impairment charge to be recognized for the amount by which the carrying amount exceeds the reported unit's fair value. Upon adoption, the guidance is to be applied prospectively. The guidance will be effective for the Company on January 1, 2020, with early adoption permitted. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial position, results of operations or cash flows. In March 2017, the FASB issued authoritative guidance related to the premium amortization on purchased callable debt securities. The guidance shortens the amortization period for certain callable debt securities held at a premium. Specifically, the new guidance requires the premium to be amortized to the earliest call date. The guidance does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The guidance will be effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The guidance should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial position, results of operations or cash flows based on the investments held by the Company at September 30, 2018, that are applicable to this guidance. In August 2017, the FASB issued authoritative guidance related to derivatives and hedging. The new guidance expands and refines hedge accounting for both nonfinancial and financial risk components and aligns the recognition and presentation of the effects of the hedging instruments and the hedged item in the financial statements. The new guidance also includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The guidance will be effective for the Company for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Based on the Company's current use of derivatives and hedging activities, the adoption of this guidance is not expected to have a material impact on the Company's consolidated financial position, results of operations or cash flows. In August 2018, the FASB issued authoritative guidance that makes targeted improvements to the accounting for long-duration contracts. The new guidance: (i) improves the timeliness of recognizing changes in the liability for future benefits and modifies the rate used to discount future cash flows; (ii) simplifies and improves the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts; (iii) simplifies the amortization of deferred acquisition costs; and (iv) requires enhanced disclosures, including disaggregated rollforwards of the liability for future policy benefits, policyholder account balances, market risk benefits and deferred acquisition costs. Additionally, qualitative and quantitative information about expected cash flows, estimates and assumptions will be required. The new measurement guidance for traditional and limited-payment contract liabilities and the new guidance for the amortization of deferred acquisition costs are required to be adopted on a modified retrospective transition approach, with an option to elect a full retrospective transition if certain criteria are met. The transition approach for deferred acquisition costs is required to be consistent with the transition applied to the liability for future policyholder benefits. Under the modified retrospective approach, for contracts in-force at the transition date, an entity would continue to use the existing locked-in investment yield interest rate assumption to calculate the net premium ratio, rather than the upper-medium grade fixed-income corporate instrument yield. However, for balance sheet remeasurement purposes, the current upper-medium grade fixed-income corporate instrument yield would be used at transition through accumulated other comprehensive income and subsequently through other comprehensive income. For market risk benefits, retrospective application is required, with the ability to use hindsight to measure fair value components to the extent assumptions in a prior period are unobservable or otherwise unavailable. The guidance will be effective for the Company on January 1, 2021, with early adoption permitted. The Company has not yet determined the expected impact of adoption of this guidance on its consolidated financial position, results of operations or cash flows. In August 2018, the FASB issued authoritative guidance related to changes to the disclosure requirements for fair value measurement. The new guidance removes, modifies and adds certain disclosure requirements. The guidance will be effective for the Company on January 1, 2020. The adoption of such guidance will impact certain fair value disclosures, but will not impact our consolidated financial position, results of operations or cash flows. Adopted Accounting Standards In May 2014, the FASB issued authoritative guidance for recognizing revenue from contracts with customers. Certain contracts with customers are specifically excluded from this guidance, including insurance contracts. The core principle of the new guidance is that an entity should recognize revenue when it transfers promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The guidance was effective for the Company on January 1, 2018. The adoption of this new guidance impacts the timing of certain revenues and expenses between quarters of a calendar year for various distribution and marketing agreements with other insurance companies pursuant to which Bankers Life's career agents distribute third party products including prescription drug and Medicare Advantage plans. The annual fee income earned during a calendar year will not change, but the amount recognized during each quarterly period will vary based on the sales of such products in each period. Furthermore, we are recognizing distribution expenses in the same period that the associated fee revenue is earned. Periods prior to the January 1, 2018 adoption date were not restated to reflect the new guidance. The impact of adoption was as follows (dollars in millions): Three months ended September 30, 2018 Impact of Amounts prior As reported adoption to adoption Fee revenue $ 6.4 $ (2.4 ) $ 8.8 Distribution expense (included in other operating costs and expenses) .6 (2.9 ) 3.5 Impact on pre-tax income $ 5.8 $ .5 $ 5.3 Nine months ended September 30, 2018 Impact of Amounts prior As reported adoption to adoption Fee revenue $ 28.8 $ 3.1 $ 25.7 Distribution expense (included in other operating costs and expenses) 13.0 3.6 9.4 Impact on pre-tax income $ 15.8 $ (.5 ) $ 16.3 In January 2016, the FASB issued authoritative guidance related to the recognition and measurement of financial assets and financial liabilities which made targeted improvements to GAAP as follows: (i) Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. (ii) Simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. (iii) Eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. (iv) Require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. (v) Require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. (vi) Require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. (vii) Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. The guidance was effective for the Company on January 1, 2018. Accordingly, the Company recorded a cumulative effect adjustment to the balance sheet as of January 1, 2018, related to certain equity investments that are measured at fair value. The impact of adoption was as follows (dollars in millions): January 1, 2018 Amounts prior to effect of adoption of authoritative guidance Effect of adoption of authoritative guidance As adjusted Accumulated other comprehensive income $ 1,212.1 $ (16.3 ) $ 1,195.8 Retained earnings 560.4 16.3 576.7 Total shareholders' equity 4,847.5 — 4,847.5 In August 2016, the FASB issued authoritative guidance related to how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance addresses eight specific cash flow issues including debt prepayment or debt extinguishment costs, proceeds from the settlement of corporate-owned life insurance policies ("COLI"), distributions received from equity method investees, and others. The guidance was effective for the Company on January 1, 2018. The adoption of this guidance resulted in reclassifications to certain cash receipts and payments within our consolidated statement of cash flows, but had no impact on our consolidated financial position, results of operations or cash flows. Periods prior to the January 1, 2018 adoption date have been restated to reflect the new guidance. In November 2016, the FASB issued authoritative guidance to address the diversity in practice that currently exists regarding the classification and presentation of changes in restricted cash on the statement of cash flows. The new guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Entities are also required to disclose information about the nature of their restricted cash and restricted cash equivalents. Additionally, if cash, cash equivalents, restricted cash and restricted cash equivalents are presented in more than one line item in the statement of financial position, entities will be required to present a reconciliation, either on the face of the statement of cash flows or disclosed in the notes, of the totals in the statement of cash flows to the related line item captions in the statement of financial position. The guidance was effective for the Company on January 1, 2018. The adoption of this guidance impacted the presentation of our consolidated statement of cash flows and related cash flow disclosures, but did not have an impact on our consolidated financial position, results of operations or cash flows. Periods prior to the January 1, 2018 adoption date have been restated to reflect the new guidance. The impact of adopting the cash flow guidance described above was as follows (dollars in millions): Nine months ended September 30, 2017 Amounts prior to effect of adoption of authoritative guidance Restricted cash COLI death benefits Distributions received from equity method investments As adjusted Cash flows from operating activities: Net investment income $ 898.9 $ — $ — $ 19.0 $ 917.9 Other operating costs (546.0 ) — (3.2 ) — (549.2 ) Net cash flow from operating activities 433.7 — (3.2 ) 19.0 449.5 Cash flows from investing activities: Sales of investments 1,742.5 — — (19.0 ) 1,723.5 Change in cash and cash equivalents held by variable interest entities 83.4 (83.4 ) — — — Other (23.6 ) — 3.2 — (20.4 ) Net cash provided (used) by investing activities 363.3 (83.4 ) 3.2 (19.0 ) 264.1 Net increase (decrease) in cash and cash equivalents 287.0 (83.4 ) — — 203.6 Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of period 478.9 189.3 — — 668.2 Cash and cash equivalents - unrestricted and held by variable interest entities, end of period 765.9 105.9 — — 871.8 In May 2017, the FASB issued authoritative guidance related to which changes to the terms or conditions of a share-based award require an entity to apply modification accounting. The guidance was effective for the Company for fiscal years beginning after December 15, 2017. Early adoption was permitted, including adoption in an interim period. The guidance is to be applied prospectively to an award modified on or after the adoption date. The adoption of this guidance did not have a material impact to the Company's consolidated financial position, results of operations or cash flows.

LITIGATION AND OTHER LEGAL PROC

LITIGATION AND OTHER LEGAL PROCEEDINGS	9 Months Ended
	Sep. 30, 2018
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 September 29, 2016, Washington National and Bankers Conseco Life Insurance Company ("BCLIC") commenced an arbitration proceeding seeking compensatory, consequential and punitive damages against Beechwood Re Ltd. ("BRe") based upon BRe’s incurable material breaches of the long-term care reinsurance agreements, conversion, fraud, and breaches of fiduciary duties and the obligation to deal honestly and in good faith. BRe filed a counterclaim against Washington National and BCLIC in the arbitration alleging damages relating to the reinsurance agreements and their termination. In addition, on September 29, 2016, a complaint was filed by BCLIC and Washington National in the United States District Court for the Southern District of New York, Bankers Conseco Life Insurance Company and Washington National Insurance Company v. Moshe M. Feuer, Scott Taylor and David Levy, Case No. 16-cv-7646, alleging, among other claims, fraud/fraudulent concealment, and violation of the Racketeer Influenced and Corrupt Organizations Act. These allegations relate to the long-term care reinsurance agreements between BRe and Washington National and BCLIC, respectively, and emanate from the undisclosed relationships between and among the defendants (who were the principal owners and officers of BRe) and Platinum Partners, LP and its affiliates. On April 27, 2017, an amended complaint was filed adding Beechwood Capital Group, LLC as a defendant. On March 13, 2018, the District Court granted the motion that had been filed by Feuer, Taylor and Levy to compel arbitration of Washington National's and BCLIC's claims and the litigation is now stayed pending the outcome of the arbitration. Washington National and BCLIC intend to vigorously pursue their claims for damages and other remedies in the arbitration and the litigation described above. By public notice dated July 26, 2017, the Cayman Islands Monetary Authority advised that, effective July 25, 2017, two individuals (the "Controllers") had been appointed pursuant to Section 24(2)(h) of the Cayman Islands Insurance Law to assume control of the affairs of BRe. According to the public notice, effective with their appointment, the Controllers assumed immediate control of the affairs of BRe and have all the powers necessary to administer the affairs of BRe including power to terminate its insurance business. The Controllers are responsible for assessing the financial position of BRe and submitting a report to the Cayman Islands Monetary Authority. On August 10, 2018, the Cayman Islands Monetary Authority filed a public petition in the Grand Court of the Cayman Islands to officially wind up Beechwood, concluding that Beechwood was now of doubtful solvency. We are in the process of assessing the potential impact of this action on the proceedings described in the foregoing paragraph. Regulatory Examinations and Fines Insurance companies face significant risks related to regulatory investigations and actions. Regulatory investigations generally result from matters related to sales or underwriting practices, payment of contingent or other sales commissions, claim payments and procedures, product design, product disclosure, additional premium charges for premiums paid on a periodic basis, denial or delay of benefits, charging excessive or impermissible fees on products, procedures related to canceling policies, changing the way cost of insurance charges are calculated for certain life insurance products or recommending unsuitable products to customers. We are, in the ordinary course of our business, subject to various examinations, inquiries and information requests from state, federal and other authorities. The ultimate outcome of these regulatory actions (including the costs of complying with information requests and policy reviews) cannot be predicted with certainty. In the event of an unfavorable outcome in one or more of these matters, the ultimate liability may be in excess of liabilities we have established and we could suffer significant reputational harm as a result of these matters, which could also have a material adverse effect on our business, financial condition, results of operations or cash flows. In August 2011, we were notified of an examination to be done on behalf of a number of states for the purpose of determining compliance with unclaimed property laws by the Company and its subsidiaries. Such examination has included inquiries related to the use of data available on the U.S. Social Security Administration's Death Master File to identify instances where benefits under life insurance policies, annuities and retained asset accounts are payable. We are continuing to provide information to the examiners in response to their requests. A total of 40 states and the District of Columbia are currently participating in this examination.

CONSOLIDATED STATEMENT OF CAS_2

CONSOLIDATED STATEMENT OF CASH FLOW	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
CONSOLIDATED STATEMENT OF CASH FLOWS	CONSOLIDATED STATEMENT OF CASH FLOWS The following reconciles net income (loss) to net cash from operating activities (dollars in millions): Nine months ended September 30, 2018 2017 Cash flows from operating activities: Net income (loss) $ (343.3 ) $ 246.5 Adjustments to reconcile net income (loss) to net cash from operating activities: Amortization and depreciation 216.1 200.8 Income taxes 10.5 50.6 Insurance liabilities 209.1 321.5 Accrual and amortization of investment income (117.9 ) (214.2 ) Deferral of policy acquisition costs (187.2 ) (183.4 ) Net realized investment gains (27.0 ) (52.3 ) Net realized gains on the transfer of assets related to reinsurance transaction (363.4 ) — Loss related to reinsurance transaction 1,067.6 — Payment to reinsurer pursuant to long-term care business reinsured (365.0 ) — Loss on extinguishment of borrowings related to variable interest entities 3.8 5.5 Other 11.7 74.5 Net cash from operating activities $ 115.0 $ 449.5 The following summarizes the impact of the reinsurance transaction completed on September 27, 2018 (dollars in millions): Investments transferred $ (3,582.1 ) (a) Cash paid to reinsurer (365.0 ) Accrued interest on investments transferred (51.6 ) Present value of future profits and deferred acquisition costs written-off (61.6 ) Reinsurance receivables 2,818.0 Transaction expenses and other (14.6 ) Release of future loss reserve 189.3 Subtotal (1,067.6 ) Realized gains on investments transferred 363.4 Pre-tax loss related to reinsurance transaction $ (704.2 ) ______________ (a) Such non-cash amounts are not included in the consolidated statement of cash flows. 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, 2018 2017 Stock options, restricted stock and performance units $ 19.6 $ 17.8

INVESTMENTS IN VARIABLE INTERES

INVESTMENTS IN VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
INVESTMENTS IN VARIABLE INTEREST ENTITIES	INVESTMENTS IN VARIABLE INTEREST ENTITIES We have concluded that we are the primary beneficiary with respect to certain VIEs, which are consolidated in our financial statements. In consolidating the VIEs, we consistently use the financial information most recently distributed to investors in the VIE. All of the VIEs are collateralized loan trusts that were established to issue securities to finance the purchase of corporate loans and other permitted investments. The assets held by the trusts are legally isolated and not available to the Company. The liabilities of the VIEs are expected to be satisfied from the cash flows generated by the underlying loans held by the trusts, not from the assets of the Company. The Company has no financial obligation to the VIEs beyond its investment in each VIE. Certain of our subsidiaries are noteholders of the VIEs. Another subsidiary of the Company is the investment manager for the VIEs. As such, it has the power to direct the most significant activities of the VIEs which materially impacts the economic performance of the VIEs. The following tables provide supplemental information about the assets and liabilities of the VIEs which have been consolidated in accordance with authoritative guidance (dollars in millions): September 30, 2018 VIEs Eliminations Net effect on consolidated balance sheet Assets: Investments held by variable interest entities $ 1,550.5 $ — $ 1,550.5 Notes receivable of VIEs held by subsidiaries — (142.8 ) (142.8 ) Cash and cash equivalents held by variable interest entities 56.4 — 56.4 Accrued investment income 2.6 — 2.6 Income tax assets, net 2.3 — 2.3 Other assets 4.5 (3.9 ) .6 Total assets $ 1,616.3 $ (146.7 ) $ 1,469.6 Liabilities: Other liabilities $ 66.9 $ (6.2 ) $ 60.7 Borrowings related to variable interest entities 1,417.6 — 1,417.6 Notes payable of VIEs held by subsidiaries 155.2 (155.2 ) — Total liabilities $ 1,639.7 $ (161.4 ) $ 1,478.3 December 31, 2017 VIEs Eliminations Net effect on consolidated balance sheet Assets: Investments held by variable interest entities $ 1,526.9 $ — $ 1,526.9 Notes receivable of VIEs held by subsidiaries — (155.5 ) (155.5 ) Cash and cash equivalents held by variable interest entities 178.9 — 178.9 Accrued investment income 2.6 (.1 ) 2.5 Income tax assets, net .7 — .7 Other assets 10.0 (1.5 ) 8.5 Total assets $ 1,719.1 $ (157.1 ) $ 1,562.0 Liabilities: Other liabilities $ 158.3 $ (4.4 ) $ 153.9 Borrowings related to variable interest entities 1,410.7 — 1,410.7 Notes payable of VIEs held by subsidiaries 167.6 (167.6 ) — Total liabilities $ 1,736.6 $ (172.0 ) $ 1,564.6 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, 2018 , such loans had an amortized cost of $1,553.1 million ; gross unrealized gains of $6.8 million ; gross unrealized losses of $9.4 million ; and an estimated fair value of $1,550.5 million . The following table sets forth the amortized cost and estimated fair value of the investments held by the VIEs at September 30, 2018 , 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 in one year or less $ 5.0 $ 5.0 Due after one year through five years 523.8 521.9 Due after five years through ten years 1,024.3 1,023.6 Total $ 1,553.1 $ 1,550.5 During the first nine months of 2018 , the VIEs recognized net realized investment losses of $3.2 million from the sales of fixed maturities. During the first nine months of 2017 , the VIEs recognized net realized investment losses of $2.5 million , which were comprised of: (i) $2.2 million of net gains from the sales of fixed maturities; (ii) $4.3 million of losses on the dissolution of VIEs; and (iii) $.4 million of writedowns of investments for other than temporary declines in fair value recognized through net income. At September 30, 2018 , there were no investments held by the VIEs that were in default. During the first nine months of 2018 , $41.9 million of investments held by VIEs were sold which resulted in gross investment losses (before income taxes) of $3.4 million . During the first nine months of 2017 , $86.0 million of investments held by the VIEs were sold which resulted in gross investment losses (before income taxes) of $2.0 million . At September 30, 2018 , the VIEs held: (i) investments with a fair value of $474.6 million and gross unrealized losses of $5.4 million that had been in an unrealized loss position for less than twelve months; and (ii) investments with a fair value of $101.1 million and gross unrealized losses of $4.0 million that had been in an unrealized loss position for twelve months or greater. At December 31, 2017 , the VIEs held: (i) investments with a fair value of $445.4 million and gross unrealized losses of $4.9 million that had been in an unrealized loss position for less than twelve months; and (ii) investments with a fair value of $28.4 million and gross unrealized losses of $1.7 million that had been in an unrealized loss position for twelve months or greater. The investments held by the VIEs are evaluated for other-than-temporary declines in fair value in a manner that is consistent with the Company's fixed maturities, available for sale. In addition, the Company, in the normal course of business, makes passive investments in structured securities issued by VIEs for which the Company is not the investment manager. These structured securities include asset-backed securities, collateralized debt obligations, commercial mortgage-backed securities, residential mortgage-backed securities and collateralized mortgage obligations. 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, 2018 , we held investments in various limited partnerships and hedge funds, in which we are not the primary beneficiary, totaling $459.1 million (classified as other invested assets). At September 30, 2018 , we had unfunded commitments to these partnerships and hedge funds totaling $231.5 million . Our maximum exposure to loss on these investments is limited to the amount of our investment.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and, therefore, represents an exit price, not an entry price. We carry certain assets and liabilities at fair value on a recurring basis, including fixed maturities, equity securities, trading securities, investments held by VIEs, derivatives, separate account assets and embedded derivatives. We carry our company-owned life insurance policy, which is invested in a series of mutual funds, at its cash surrender value which approximates fair value. In addition, we disclose fair value for certain financial instruments, including mortgage loans, policy loans, cash and cash equivalents, insurance liabilities for interest-sensitive products, 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; certain mutual fund investments; most short-term investments; and non-exchange-traded 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 (primarily certain below-investment grade privately placed securities), certain structured securities, mortgage loans, and other less liquid securities. Financial liabilities in this category include our insurance liabilities for interest-sensitive products, which includes embedded derivatives (including embedded derivatives related to our fixed index annuity products and to a modified coinsurance arrangement) 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. Any transfers between levels are reported as having occurred at the beginning of the period. There were no transfers between Level 1 and Level 2 in both the first nine months of 2018 and 2017 . The vast majority of our fixed maturity and equity securities, including those held in trading portfolios and those held by consolidated VIEs, short-term and separate account assets 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. 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. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, new issuances and credit spreads. Asset-backed securities, collateralized debt obligations, commercial mortgage-backed securities, mortgage pass-through securities and collateralized mortgage obligations are generally priced using market and income approaches. 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 (primarily comprised of non-redeemable preferred stock) are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity, and credit spreads. • Investments held by VIEs Corporate securities are generally priced using market and income approaches using pricing vendors. Inputs generally consist of issuer rating, benchmark yields, maturity, and credit spreads. • Other invested assets - derivatives The fair value measurements for derivative instruments, including embedded derivatives requiring bifurcation, are determined based on the consideration of several inputs including closing exchange or over-the-counter market price quotes; time value and volatility factors underlying options; market interest rates; and non-performance risk. Third-party pricing services normally derive security prices through recently reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information. If there are no recently reported trades, the third-party pricing services may use matrix or model processes to develop a security price where future cash flow expectations are discounted at an estimated risk-adjusted market rate. The number of prices obtained for a given security is dependent on the Company's analysis of such prices as further described below. As the Company is responsible for the determination of fair value, we have control processes designed to ensure that the fair values received from third-party pricing sources are reasonable and the valuation techniques and assumptions used appear reasonable and consistent with prevailing market conditions. Additionally, when inputs are provided by third-party pricing sources, we have controls in place to review those inputs for reasonableness. As part of these controls, we perform monthly quantitative and qualitative analysis on the prices received from third parties to determine whether the prices are reasonable estimates of fair value. The Company's analysis includes: (i) a review of the methodology used by third-party pricing services; (ii) where available, a comparison of multiple pricing services' valuations for the same security; (iii) a review of month to month price fluctuations; (iv) a review to ensure valuations are not unreasonably dated; and (v) back testing to compare actual purchase and sale transactions with valuations received from third parties. As a result of such procedures, the Company may conclude a particular price received from a third party is not reflective of current market conditions. In those instances, we may request additional pricing quotes or apply internally developed valuations. However, the number of such instances is insignificant and the aggregate change in value of such investments is not materially different from the original prices received. The categorization of the fair value measurements of our investments priced by independent pricing services was based upon the Company's judgment of the inputs or methodologies used by the independent pricing services to value different asset classes. Such inputs typically include: benchmark yields, reported trades, broker dealer quotes, issuer spreads, benchmark securities, bids, offers and other relevant data. The Company categorizes such fair value measurements based upon asset classes and the underlying observable or unobservable inputs used to value such investments. For securities that are not priced by pricing services and may not be reliably priced using pricing models, we obtain broker quotes. These broker quotes are non-binding and represent an exit price, but assumptions used to establish the fair value may not be observable and therefore represent Level 3 inputs. Approximately 29 percent of our Level 3 fixed maturity 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. For certain embedded derivatives, we use actuarial assumptions in the determination of fair value which we consider to be Level 3 inputs. The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at September 30, 2018 is as follows (dollars in millions): Quoted prices in active markets Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 11,371.7 $ 152.8 $ 11,524.5 United States Treasury securities and obligations of United States government corporations and agencies — 168.7 — 168.7 States and political subdivisions — 1,887.0 — 1,887.0 Debt securities issued by foreign governments — 59.2 1.0 60.2 Asset-backed securities — 2,487.0 12.1 2,499.1 Collateralized debt obligations — 354.0 — 354.0 Commercial mortgage-backed securities — 1,433.3 — 1,433.3 Mortgage pass-through securities — 1.6 — 1.6 Collateralized mortgage obligations — 584.0 — 584.0 Total fixed maturities, available for sale — 18,346.5 165.9 18,512.4 Equity securities - corporate securities 216.3 109.7 9.5 335.5 Trading securities: Asset-backed securities — 89.7 — 89.7 Commercial mortgage-backed securities — 93.2 — 93.2 Collateralized mortgage obligations — 56.1 — 56.1 Total trading securities — 239.0 — 239.0 Investments held by variable interest entities - corporate securities — 1,550.5 — 1,550.5 Other invested assets - derivatives — 143.5 — 143.5 Assets held in separate accounts — 5.1 — 5.1 Total assets carried at fair value by category $ 216.3 $ 20,394.3 $ 175.4 $ 20,786.0 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products $ — $ — $ 1,370.0 $ 1,370.0 The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2017 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 $ — $ 14,728.0 $ 230.4 $ 14,958.4 United States Treasury securities and obligations of United States government corporations and agencies — 177.7 — 177.7 States and political subdivisions — 2,056.3 — 2,056.3 Debt securities issued by foreign governments — 79.2 3.9 83.1 Asset-backed securities — 3,230.2 24.2 3,254.4 Collateralized debt obligations — 259.4 — 259.4 Commercial mortgage-backed securities — 1,377.5 — 1,377.5 Mortgage pass-through securities — 2.0 — 2.0 Collateralized mortgage obligations — 742.1 — 742.1 Total fixed maturities, available for sale — 22,652.4 258.5 22,910.9 Equity securities - corporate securities 287.8 131.6 21.2 440.6 Trading securities: Corporate securities — 21.6 — 21.6 United States Treasury securities and obligations of United States government corporations and agencies — .5 — .5 Asset-backed securities — 95.8 — 95.8 Collateralized debt obligations — 2.7 — 2.7 Commercial mortgage-backed securities — 92.5 — 92.5 Collateralized mortgage obligations — 68.7 — 68.7 Equity securities 2.8 — — 2.8 Total trading securities 2.8 281.8 — 284.6 Investments held by variable interest entities - corporate securities — 1,522.0 4.9 1,526.9 Other invested assets - derivatives — 170.2 — 170.2 Assets held in separate accounts — 5.0 — 5.0 Total assets carried at fair value by category $ 290.6 $ 24,763.0 $ 284.6 $ 25,338.2 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products $ — $ — $ 1,334.8 $ 1,334.8 The fair value measurements for our financial instruments disclosed at fair value on a recurring basis are as follows (dollars in millions): September 30, 2018 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 $ — $ — $ 1,671.5 $ 1,671.5 $ 1,680.6 Policy loans — — 117.4 117.4 117.4 Other invested assets: Company-owned life insurance — 186.2 — 186.2 186.2 Cash and cash equivalents: Unrestricted 539.2 — — 539.2 539.2 Held by variable interest entities 56.4 — — 56.4 56.4 Liabilities: Policyholder account balances — — 11,449.7 11,449.7 11,449.7 Investment borrowings — 1,647.1 — 1,647.1 1,646.1 Borrowings related to variable interest entities — 1,426.7 — 1,426.7 1,417.6 Notes payable – direct corporate obligations — 938.9 — 938.9 916.2 December 31, 2017 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 $ — $ — $ 1,677.3 $ 1,677.3 $ 1,650.6 Policy loans — — 116.0 116.0 116.0 Other invested assets: Company-owned life insurance — 182.3 — 182.3 182.3 Cash and cash equivalents: Unrestricted 578.4 — — 578.4 578.4 Held by variable interest entities 178.9 — — 178.9 178.9 Liabilities: Policyholder account balances — — 11,220.7 11,220.7 11,220.7 Investment borrowings — 1,648.8 — 1,648.8 1,646.7 Borrowings related to variable interest entities — 1,432.9 — 1,432.9 1,410.7 Notes payable – direct corporate obligations — 962.3 — 962.3 914.6 The following table presents additional information about assets and liabilities 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, 2018 (dollars in millions): September 30, 2018 Beginning balance as of June 30, 2018 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2018 Amount of total gains (losses) for the three months ended September 30, 2018 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 181.9 $ (23.9 ) $ (.8 ) $ .1 $ — $ (4.5 ) $ 152.8 $ — Debt securities issued by foreign governments 3.9 (2.9 ) (.1 ) .1 — — 1.0 — Asset-backed securities 18.4 (.2 ) — (.1 ) — (6.0 ) 12.1 — Total fixed maturities, available for sale 204.2 (27.0 ) (.9 ) .1 — (10.5 ) 165.9 — Equity securities - corporate securities 9.5 — — — — — 9.5 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,333.3 ) (71.3 ) 34.6 — — — (1,370.0 ) 34.6 _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability 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 and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the three months ended September 30, 2018 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 20.4 $ (44.3 ) $ — $ — $ (23.9 ) Debt securities issued by foreign governments 3.0 (5.9 ) — — (2.9 ) Asset-backed securities — (.2 ) — — (.2 ) Total fixed maturities, available for sale 23.4 (50.4 ) — — (27.0 ) Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (41.8 ) .8 (50.3 ) 20.0 (71.3 ) The following table presents additional information about assets and liabilities 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, 2018 (dollars in millions): September 30, 2018 Beginning balance as of December 31, 2017 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2018 Amount of total gains (losses) for the nine months ended September 30, 2018 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 230.4 $ (23.2 ) $ .7 $ (3.1 ) $ — $ (52.0 ) $ 152.8 $ — Debt securities issued by foreign governments 3.9 (2.9 ) (.1 ) .1 — — 1.0 — Asset-backed securities 24.2 (11.4 ) — (.7 ) — — 12.1 — Total fixed maturities, available for sale 258.5 (37.5 ) .6 (3.7 ) — (52.0 ) 165.9 — Equity securities - corporate securities 21.2 (10.9 ) (.8 ) — — — 9.5 — Investments held by variable interest entities - corporate securities 4.9 — — — — (4.9 ) — — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,334.8 ) (122.8 ) 87.6 — — — (1,370.0 ) 87.6 _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability 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 and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the nine months ended September 30, 2018 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 31.5 $ (54.7 ) $ — $ — $ (23.2 ) Debt securities issued by foreign governments 3.0 (5.9 ) — — (2.9 ) Asset-backed securities — (11.4 ) — — (11.4 ) Total fixed maturities, available for sale 34.5 (72.0 ) — — (37.5 ) Equity securities - corporate securities — (10.9 ) — — (10.9 ) Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (125.1 ) 7.7 (64.4 ) 59.0 (122.8 ) The following table presents additional information about assets and liabilities 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, 2017 (dollars in millions): September 30, 2017 Beginning balance as of June 30, 2017 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2017 Amount of total gains (losses) for the three months ended September 30, 2017 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 263.3 $ (44.8 ) $ 1.7 $ 1.3 $ 34.2 $ — $ 255.7 $ (3.2 ) Debt securities issued by foreign governments 3.9 — — .1 — — 4.0 — Asset-backed securities 59.6 (1.3 ) — .7 7.1 (6.2 ) 59.9 — Collateralized debt obligations 2.5 (2.5 ) — — — — — — Collateralized mortgage obligations .2 — — (.2 ) — — — — Total fixed maturities, available for sale 329.5 (48.6 ) 1.7 1.9 41.3 (6.2 ) 319.6 (3.2 ) Equity securities - corporate securities 24.6 (8.3 ) 6.4 (1.1 ) — — 21.6 (.5 ) Investments held by variable interest entities - corporate securities — — — — 5.0 — 5.0 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,205.4 ) (56.3 ) 12.4 — — — (1,249.3 ) 12.4 ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability 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 and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the three months ended September 30, 2017 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 15.3 $ (60.1 ) $ — $ — $ (44.8 ) Asset-backed securities 9.9 (11.2 ) — — (1.3 ) Collateralized debt obligations — (2.5 ) — — (2.5 ) Total fixed maturities, available for sale 25.2 (73.8 ) — — (48.6 ) Equity securities - corporate securities — (8.3 ) — — (8.3 ) Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (41.0 ) 1.8 (31.4 ) 14.3 (56.3 ) The following table presents additional information about assets and liabilities 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, 2017 (dollars in millions): September 30, 2017 Beginning balance as of December 31, 2016 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2017 Amount of total gains (losses) for the nine months ended September 30, 2017 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 258.5 $ (44.1 ) $ 9.5 $ .6 $ 31.2 $ — $ 255.7 $ (6.5 ) Debt securities issued by foreign governments 3.9 — — .1 — — 4.0 — Asset-backed securities 60.4 3.8 — 2.3 4.2 (10.8 ) 59.9 — Collateralized debt obligations 5.4 (2.5 ) — — — (2.9 ) — — Commercial mortgage-backed securities 32.0 — — — — (32.0 ) — — Total fixed maturities, available for sale 360.2 (42.8 ) 9.5 3.0 35.4 (45.7 ) 319.6 (6.5 ) Equity securities - corporate securities 25.2 (8.5 ) 6.3 (1.4 ) — — 21.6 (.5 ) Investments held by variable interest entities - corporate securities — 5.0 — — — — 5.0 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,092.3 ) (174.2 ) 17.2 — — — (1,249.3 ) 17.2 ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability 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 and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the nine months ended September 30, 2017 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 64.3 $ (108.4 ) $ — $ — $ (44.1 ) Asset-backed securities 21.9 (18.1 ) — — 3.8 Collateralized debt obligations — (2.5 ) — — (2.5 ) Total fixed maturities, available for sale 86.2 (129.0 ) — — (42.8 ) Equity securities - corporate securities — (8.5 ) — — (8.5 ) Investments held by variable interest entities - corporate securities 5.0 — — — 5.0 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (130.1 ) 5.3 (95.7 ) 46.3 (174.2 ) At September 30, 2018 , 55 percent of our Level 3 fixed maturities, available for sale, were investment grade and 92 percent of our Level 3 fixed maturities, available for sale, consisted of corporate securities. 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, net realized investment gains (losses) or insurance policy benefits within the consolidated statement of operations or accumulated other comprehensive income within shareholders' equity based on the appropriate accounting treatment for the instrument. The amount presented for gains (losses) included in our net loss for assets and liabilities still held as of the reporting date primarily represents impairments for fixed maturities, available for sale, changes in fair value of trading securities and certain derivatives and changes in fair value of embedded derivative instruments included in liabilities for insurance products that exist as of the reporting date. 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, 2018 (dollars in millions): Fair value at September 30, 2018 Valuation techniques Unobservable inputs Range (weighted average) Assets: Corporate securities (a) $ 98.0 Discounted cash flow analysis Discount margins 1.35% - 8.91% (3.94%) Corporate securities (b) 5.3 Recovery method Percent of recovery expected 0% - 62.20% (57.70%) Asset-backed securities (c) 12.1 Discounted cash flow analysis Discount margins 1.87% Equity securities (d) 1.2 Market comparables EBITDA multiples 1.1X Equity securities (e) 8.3 Recovery method Percent of recovery expected 59.27% - 100.00% (59.52%) Other assets categorized as Level 3 (f) 50.5 Unadjusted third-party price source Not applicable Not applicable Total 175.4 Liabilities: Future policy benefits (g) 1,370.0 Discounted projected embedded derivatives Projected portfolio yields 5.15% - 5.61% (5.60%) Discount rates 1.50% - 2.98% (2.70%) Surrender rates 1.20% - 46.40% (12.30%) ________________________________ (a) Corporate securities - The significant unobservable input used in the fair value measurement of our corporate securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would result in a significantly lower (higher) fair value measurement. (b) Corporate securities - The significant unobservable input used in the fair value measurement of these corporate securities is percentage of recovery exp

RECENTLY ISSUED ACCOUNTING ST_2

RECENTLY ISSUED ACCOUNTING STANDARDS (Policies)	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Investments	We regularly evaluate all of our investments with unrealized losses for possible impairment. Our assessment of whether unrealized losses are "other than temporary" requires significant judgment. Factors considered include: (i) the extent to which fair value is less than the cost basis; (ii) the length of time that the fair value has been less than cost; (iii) whether the unrealized loss is event driven, credit-driven or a result of changes in market interest rates or risk premium; (iv) the near-term prospects for specific events, developments or circumstances likely to affect the value of the investment; (v) the investment's rating and whether the investment is investment-grade and/or has been downgraded since its purchase; (vi) whether the issuer is current on all payments in accordance with the contractual terms of the investment and is expected to meet all of its obligations under the terms of the investment; (vii) whether we intend to sell the investment or it is more likely than not that circumstances will require us to sell the investment before recovery occurs; (viii) the underlying current and prospective asset and enterprise values of the issuer and the extent to which the recoverability of the carrying value of our investment may be affected by changes in such values; (ix) projections of, and unfavorable changes in, cash flows on structured securities including mortgage-backed and asset-backed securities; (x) our best estimate of the value of any collateral; and (xi) other objective and subjective factors. Future events may occur, or additional information may become available, which may necessitate future realized losses in our portfolio. Significant losses could have a material adverse effect on our consolidated financial statements in future periods. The manner in which impairment losses on fixed maturity securities, available for sale, are recognized in the financial statements is dependent on the facts and circumstances related to the specific security. If we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, the security is other-than-temporarily impaired and the full amount of the impairment is recognized as a loss through earnings. If we do not expect to recover the amortized cost basis, we do not plan to sell the security, and if it is not more likely than not that we would be required to sell a security before the recovery of its amortized cost, less any current period credit loss, the recognition of the other-than-temporary impairment is bifurcated. We recognize the credit loss portion in net income and the noncredit loss portion in accumulated other comprehensive income. We estimate the amount of the credit loss component of a fixed maturity security impairment as the difference between amortized cost and the present value of the expected cash flows of the security. The present value is determined using the best estimate of future cash flows discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete an asset-backed or floating-rate security. The methodology and assumptions for establishing the best estimate of future cash flows vary depending on the type of security. For most structured securities, cash flow estimates are based on bond-specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity, prepayment speeds and structural support, including overcollateralization, excess spread, subordination and guarantees. For corporate bonds, cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using bond-specific facts and circumstances. The previous amortized cost basis less the impairment recognized in net income becomes the security's new cost basis. We accrete the new cost basis to the estimated future cash flows over the expected remaining life of the security, except when the security is in default or considered nonperforming. The remaining noncredit impairment, which is recorded in accumulated other comprehensive income, is the difference between the security's estimated fair value and our best estimate of future cash flows discounted at the effective interest rate prior to impairment. The remaining noncredit impairment typically represents changes in the market interest rates, current market liquidity and risk premiums. We classify our fixed maturity securities into one of two categories: (i) "available for sale" (which we carry at estimated fair value with any unrealized gain or loss, net of tax and related adjustments, recorded as a component of shareholders' equity); or (ii) "trading" (which we carry at estimated fair value with changes in such value recognized as net investment income (classified as investment income from policyholder and other special-purpose portfolios)). Our trading securities include: (i) investments purchased with the intent of selling in the near term to generate income; (ii) investments supporting certain insurance liabilities and certain reinsurance agreements; and (iii) 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 and investments supporting insurance liabilities is recognized in income from policyholder and other special-purpose portfolios (a component of net investment income). The change in fair value of securities with embedded derivatives is recognized in realized investment gains (losses). Investment income related to investments supporting certain insurance liabilities is substantially offset by the change in insurance policy benefits related to certain products.
Earnings Per Share	Basic earnings per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Restricted shares (including our performance units) are not included in basic earnings per share until vested. Diluted earnings per share reflect the potential dilution that could occur if outstanding stock options were exercised and restricted stock was vested. The dilution from options and restricted shares is calculated using the treasury stock method. Under this method, we assume the proceeds from the exercise of the options (or the unrecognized compensation expense with respect to restricted stock and performance units) will be used to purchase shares of our common stock at the average market price during the period, reducing the dilutive effect of the exercise of the options (or the vesting of the restricted stock and performance units).
Segment Reporting	The Company manages its business through the following operating segments: Bankers Life, Washington National and Colonial Penn, which are defined on the basis of product distribution; long-term care in run-off; and corporate operations, comprised of holding company activities and certain noninsurance company businesses. On September 27, 2018, the Company completed a long-term care reinsurance transaction pursuant to which its wholly-owned subsidiary, Bankers Life and Casualty Company ("Bankers Life"), entered into an agreement with Wilton Reassurance Company ("Wilton Re") to cede all of its legacy (prior to 2003) comprehensive and nursing home long-term care policies (with statutory reserves of approximately $2.7 billion ) through 100% indemnity coinsurance, as further described in the note to the consolidated financial statements entitled "Reinsurance". In anticipation of the reinsurance agreement, the Company reorganized its business segments to move the block to be ceded from the "Bankers Life segment" to the "Long-term care in run-off segment" in the third quarter of 2018. As a result of the reorganization of the Company's business segments, total assets of $2.8 billion were transferred from the "Banker Life segment" to the "Long-term care in run-off segment" as of September 30, 2018 . All prior period segment disclosures have been revised to conform to management's current view of the Company's operating segments. We measure segment performance by excluding net realized investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes related to the agent deferred compensation plan, loss related to reinsurance transaction, income taxes and other non-operating items consisting primarily of earnings attributable to VIEs ("pre-tax operating earnings") because we believe that this performance measure is a better indicator of the ongoing business and trends in our business. Our primary investment focus is on investment income to support our liabilities for insurance products as opposed to the generation of net realized investment gains (losses), and a long-term focus is necessary to maintain profitability over the life of the business. The net realized investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes related to the agent deferred compensation plan and other non-operating items consisting primarily of earnings attributable to VIEs depend on market conditions or represent unusual items that do not necessarily relate to the underlying business of our segments. Net realized investment gains (losses) and fair value changes in embedded derivative liabilities (net of related amortization) may affect future earnings levels since our underlying business is long-term in nature and changes in our investment portfolio may impact our ability to earn the assumed interest rates needed to maintain the profitability of our business.
Recently Issued Accounting Standards	RECENTLY ISSUED ACCOUNTING STANDARDS Pending Accounting Standards In February 2016, the Financial Accounting Standards Board (the "FASB") issued authoritative guidance related to accounting for leases, requiring lessees to report most leases on their balance sheets, regardless of whether the lease is classified as a finance lease or an operating lease. For lessees, the initial lease liability is equal to the present value of future lease payments, and a corresponding asset, adjusted for certain items, is also recorded. Expense recognition for lessees will remain similar to current accounting requirements for capital and operating leases. The accounting applied by a lessor is largely unchanged from that applied under previous GAAP. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The guidance will be effective for the Company for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Based on lease contracts in effect at September 30, 2018 , the Company's analysis currently indicates that the primary impact of implementation of the new leasing guidance will be the recognition of a "right to use" asset and a "lease liability" of approximately $55 million . The cumulative effect adjustment to retained earnings as of January 1, 2019 is not expected to be material. In June 2016, the FASB issued authoritative guidance related to the measurement of credit losses on financial instruments. The new guidance replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to form credit loss estimates. The guidance will be effective for the Company for fiscal years beginning in 2020, including interim periods within the fiscal year. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company has not yet determined the expected impact of adoption of this guidance on its consolidated financial position, results of operations or cash flows. In January 2017, the FASB issued authoritative guidance that removes Step 2 of the goodwill impairment test under current guidance, which requires a hypothetical purchase price allocation. The new guidance requires an impairment charge to be recognized for the amount by which the carrying amount exceeds the reported unit's fair value. Upon adoption, the guidance is to be applied prospectively. The guidance will be effective for the Company on January 1, 2020, with early adoption permitted. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial position, results of operations or cash flows. In March 2017, the FASB issued authoritative guidance related to the premium amortization on purchased callable debt securities. The guidance shortens the amortization period for certain callable debt securities held at a premium. Specifically, the new guidance requires the premium to be amortized to the earliest call date. The guidance does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The guidance will be effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The guidance should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial position, results of operations or cash flows based on the investments held by the Company at September 30, 2018, that are applicable to this guidance. In August 2017, the FASB issued authoritative guidance related to derivatives and hedging. The new guidance expands and refines hedge accounting for both nonfinancial and financial risk components and aligns the recognition and presentation of the effects of the hedging instruments and the hedged item in the financial statements. The new guidance also includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The guidance will be effective for the Company for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Based on the Company's current use of derivatives and hedging activities, the adoption of this guidance is not expected to have a material impact on the Company's consolidated financial position, results of operations or cash flows. In August 2018, the FASB issued authoritative guidance that makes targeted improvements to the accounting for long-duration contracts. The new guidance: (i) improves the timeliness of recognizing changes in the liability for future benefits and modifies the rate used to discount future cash flows; (ii) simplifies and improves the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts; (iii) simplifies the amortization of deferred acquisition costs; and (iv) requires enhanced disclosures, including disaggregated rollforwards of the liability for future policy benefits, policyholder account balances, market risk benefits and deferred acquisition costs. Additionally, qualitative and quantitative information about expected cash flows, estimates and assumptions will be required. The new measurement guidance for traditional and limited-payment contract liabilities and the new guidance for the amortization of deferred acquisition costs are required to be adopted on a modified retrospective transition approach, with an option to elect a full retrospective transition if certain criteria are met. The transition approach for deferred acquisition costs is required to be consistent with the transition applied to the liability for future policyholder benefits. Under the modified retrospective approach, for contracts in-force at the transition date, an entity would continue to use the existing locked-in investment yield interest rate assumption to calculate the net premium ratio, rather than the upper-medium grade fixed-income corporate instrument yield. However, for balance sheet remeasurement purposes, the current upper-medium grade fixed-income corporate instrument yield would be used at transition through accumulated other comprehensive income and subsequently through other comprehensive income. For market risk benefits, retrospective application is required, with the ability to use hindsight to measure fair value components to the extent assumptions in a prior period are unobservable or otherwise unavailable. The guidance will be effective for the Company on January 1, 2021, with early adoption permitted. The Company has not yet determined the expected impact of adoption of this guidance on its consolidated financial position, results of operations or cash flows. In August 2018, the FASB issued authoritative guidance related to changes to the disclosure requirements for fair value measurement. The new guidance removes, modifies and adds certain disclosure requirements. The guidance will be effective for the Company on January 1, 2020. The adoption of such guidance will impact certain fair value disclosures, but will not impact our consolidated financial position, results of operations or cash flows. Adopted Accounting Standards In May 2014, the FASB issued authoritative guidance for recognizing revenue from contracts with customers. Certain contracts with customers are specifically excluded from this guidance, including insurance contracts. The core principle of the new guidance is that an entity should recognize revenue when it transfers promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The guidance was effective for the Company on January 1, 2018. The adoption of this new guidance impacts the timing of certain revenues and expenses between quarters of a calendar year for various distribution and marketing agreements with other insurance companies pursuant to which Bankers Life's career agents distribute third party products including prescription drug and Medicare Advantage plans. The annual fee income earned during a calendar year will not change, but the amount recognized during each quarterly period will vary based on the sales of such products in each period. Furthermore, we are recognizing distribution expenses in the same period that the associated fee revenue is earned. Periods prior to the January 1, 2018 adoption date were not restated to reflect the new guidance. The impact of adoption was as follows (dollars in millions): Three months ended September 30, 2018 Impact of Amounts prior As reported adoption to adoption Fee revenue $ 6.4 $ (2.4 ) $ 8.8 Distribution expense (included in other operating costs and expenses) .6 (2.9 ) 3.5 Impact on pre-tax income $ 5.8 $ .5 $ 5.3 Nine months ended September 30, 2018 Impact of Amounts prior As reported adoption to adoption Fee revenue $ 28.8 $ 3.1 $ 25.7 Distribution expense (included in other operating costs and expenses) 13.0 3.6 9.4 Impact on pre-tax income $ 15.8 $ (.5 ) $ 16.3 In January 2016, the FASB issued authoritative guidance related to the recognition and measurement of financial assets and financial liabilities which made targeted improvements to GAAP as follows: (i) Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. (ii) Simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. (iii) Eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. (iv) Require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. (v) Require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. (vi) Require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. (vii) Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. The guidance was effective for the Company on January 1, 2018. Accordingly, the Company recorded a cumulative effect adjustment to the balance sheet as of January 1, 2018, related to certain equity investments that are measured at fair value. The impact of adoption was as follows (dollars in millions): January 1, 2018 Amounts prior to effect of adoption of authoritative guidance Effect of adoption of authoritative guidance As adjusted Accumulated other comprehensive income $ 1,212.1 $ (16.3 ) $ 1,195.8 Retained earnings 560.4 16.3 576.7 Total shareholders' equity 4,847.5 — 4,847.5 In August 2016, the FASB issued authoritative guidance related to how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance addresses eight specific cash flow issues including debt prepayment or debt extinguishment costs, proceeds from the settlement of corporate-owned life insurance policies ("COLI"), distributions received from equity method investees, and others. The guidance was effective for the Company on January 1, 2018. The adoption of this guidance resulted in reclassifications to certain cash receipts and payments within our consolidated statement of cash flows, but had no impact on our consolidated financial position, results of operations or cash flows. Periods prior to the January 1, 2018 adoption date have been restated to reflect the new guidance. In November 2016, the FASB issued authoritative guidance to address the diversity in practice that currently exists regarding the classification and presentation of changes in restricted cash on the statement of cash flows. The new guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Entities are also required to disclose information about the nature of their restricted cash and restricted cash equivalents. Additionally, if cash, cash equivalents, restricted cash and restricted cash equivalents are presented in more than one line item in the statement of financial position, entities will be required to present a reconciliation, either on the face of the statement of cash flows or disclosed in the notes, of the totals in the statement of cash flows to the related line item captions in the statement of financial position. The guidance was effective for the Company on January 1, 2018. The adoption of this guidance impacted the presentation of our consolidated statement of cash flows and related cash flow disclosures, but did not have an impact on our consolidated financial position, results of operations or cash flows. Periods prior to the January 1, 2018 adoption date have been restated to reflect the new guidance. The impact of adopting the cash flow guidance described above was as follows (dollars in millions): Nine months ended September 30, 2017 Amounts prior to effect of adoption of authoritative guidance Restricted cash COLI death benefits Distributions received from equity method investments As adjusted Cash flows from operating activities: Net investment income $ 898.9 $ — $ — $ 19.0 $ 917.9 Other operating costs (546.0 ) — (3.2 ) — (549.2 ) Net cash flow from operating activities 433.7 — (3.2 ) 19.0 449.5 Cash flows from investing activities: Sales of investments 1,742.5 — — (19.0 ) 1,723.5 Change in cash and cash equivalents held by variable interest entities 83.4 (83.4 ) — — — Other (23.6 ) — 3.2 — (20.4 ) Net cash provided (used) by investing activities 363.3 (83.4 ) 3.2 (19.0 ) 264.1 Net increase (decrease) in cash and cash equivalents 287.0 (83.4 ) — — 203.6 Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of period 478.9 189.3 — — 668.2 Cash and cash equivalents - unrestricted and held by variable interest entities, end of period 765.9 105.9 — — 871.8 In May 2017, the FASB issued authoritative guidance related to which changes to the terms or conditions of a share-based award require an entity to apply modification accounting. The guidance was effective for the Company for fiscal years beginning after December 15, 2017. Early adoption was permitted, including adoption in an interim period. The guidance is to be applied prospectively to an award modified on or after the adoption date. The adoption of this guidance did not have a material impact to the Company's consolidated financial position, results of operations or cash flows.
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and, therefore, represents an exit price, not an entry price. We carry certain assets and liabilities at fair value on a recurring basis, including fixed maturities, equity securities, trading securities, investments held by VIEs, derivatives, separate account assets and embedded derivatives. We carry our company-owned life insurance policy, which is invested in a series of mutual funds, at its cash surrender value which approximates fair value. In addition, we disclose fair value for certain financial instruments, including mortgage loans, policy loans, cash and cash equivalents, insurance liabilities for interest-sensitive products, 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; certain mutual fund investments; most short-term investments; and non-exchange-traded 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 (primarily certain below-investment grade privately placed securities), certain structured securities, mortgage loans, and other less liquid securities. Financial liabilities in this category include our insurance liabilities for interest-sensitive products, which includes embedded derivatives (including embedded derivatives related to our fixed index annuity products and to a modified coinsurance arrangement) 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. Any transfers between levels are reported as having occurred at the beginning of the period. There were no transfers between Level 1 and Level 2 in both the first nine months of 2018 and 2017 . The vast majority of our fixed maturity and equity securities, including those held in trading portfolios and those held by consolidated VIEs, short-term and separate account assets 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. 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. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, new issuances and credit spreads. Asset-backed securities, collateralized debt obligations, commercial mortgage-backed securities, mortgage pass-through securities and collateralized mortgage obligations are generally priced using market and income approaches. 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 (primarily comprised of non-redeemable preferred stock) are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity, and credit spreads. • Investments held by VIEs Corporate securities are generally priced using market and income approaches using pricing vendors. Inputs generally consist of issuer rating, benchmark yields, maturity, and credit spreads. • Other invested assets - derivatives The fair value measurements for derivative instruments, including embedded derivatives requiring bifurcation, are determined based on the consideration of several inputs including closing exchange or over-the-counter market price quotes; time value and volatility factors underlying options; market interest rates; and non-performance risk. Third-party pricing services normally derive security prices through recently reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information. If there are no recently reported trades, the third-party pricing services may use matrix or model processes to develop a security price where future cash flow expectations are discounted at an estimated risk-adjusted market rate. The number of prices obtained for a given security is dependent on the Company's analysis of such prices as further described below. As the Company is responsible for the determination of fair value, we have control processes designed to ensure that the fair values received from third-party pricing sources are reasonable and the valuation techniques and assumptions used appear reasonable and consistent with prevailing market conditions. Additionally, when inputs are provided by third-party pricing sources, we have controls in place to review those inputs for reasonableness. As part of these controls, we perform monthly quantitative and qualitative analysis on the prices received from third parties to determine whether the prices are reasonable estimates of fair value. The Company's analysis includes: (i) a review of the methodology used by third-party pricing services; (ii) where available, a comparison of multiple pricing services' valuations for the same security; (iii) a review of month to month price fluctuations; (iv) a review to ensure valuations are not unreasonably dated; and (v) back testing to compare actual purchase and sale transactions with valuations received from third parties. As a result of such procedures, the Company may conclude a particular price received from a third party is not reflective of current market conditions. In those instances, we may request additional pricing quotes or apply internally developed valuations. However, the number of such instances is insignificant and the aggregate change in value of such investments is not materially different from the original prices received. The categorization of the fair value measurements of our investments priced by independent pricing services was based upon the Company's judgment of the inputs or methodologies used by the independent pricing services to value different asset classes. Such inputs typically include: benchmark yields, reported trades, broker dealer quotes, issuer spreads, benchmark securities, bids, offers and other relevant data. The Company categorizes such fair value measurements based upon asset classes and the underlying observable or unobservable inputs used to value such investments. For securities that are not priced by pricing services and may not be reliably priced using pricing models, we obtain broker quotes. These broker quotes are non-binding and represent an exit price, but assumptions used to establish the fair value may not be observable and therefore represent Level 3 inputs. Approximately 29 percent of our Level 3 fixed maturity 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. For certain embedded derivatives, we use actuarial assumptions in the determination of fair value which we consider to be Level 3 inputs. 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, net realized investment gains (losses) or insurance policy benefits within the consolidated statement of operations or accumulated other comprehensive income within shareholders' equity based on the appropriate accounting treatment for the instrument. The amount presented for gains (losses) included in our net loss for assets and liabilities still held as of the reporting date primarily represents impairments for fixed maturities, available for sale, changes in fair value of trading securities and certain derivatives and changes in fair value of embedded derivative instruments included in liabilities for insurance products that exist as of the reporting date.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule of accumulated other comprehensive income (loss)	These amounts, included in shareholders' equity as of September 30, 2018 and December 31, 2017 , were as follows (dollars in millions): September 30, December 31, Net unrealized appreciation (depreciation) on fixed maturity securities, available for sale, on which an other-than-temporary impairment loss has been recognized $ 1.6 $ 2.6 Net unrealized gains on all other investments 577.2 2,227.3 Adjustment to present value of future profits (a) (4.5 ) (94.0 ) Adjustment to deferred acquisition costs (56.1 ) (292.6 ) Adjustment to insurance liabilities (5.0 ) (295.8 ) Deferred income tax liabilities (109.7 ) (335.4 ) Accumulated other comprehensive income $ 403.5 $ 1,212.1 ________ (a) The present value of future profits is the value assigned to the right to receive future cash flows from contracts existing at September 10, 2003, the date Conseco, Inc., an Indiana corporation, emerged from bankruptcy.
Schedule of fixed maturities for available for sale and equity securities	At September 30, 2018 , the amortized cost, gross unrealized gains and losses, estimated fair value, other-than-temporary impairments in accumulated other comprehensive income of fixed maturities, available for sale, were as follows (dollars in millions): Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Other-than-temporary impairments included in accumulated other comprehensive income Corporate securities $ 11,266.5 $ 468.8 $ (210.8 ) $ 11,524.5 $ — United States Treasury securities and obligations of United States government corporations and agencies 151.9 17.3 (.5 ) 168.7 — States and political subdivisions 1,749.7 141.9 (4.6 ) 1,887.0 — Debt securities issued by foreign governments 60.3 1.3 (1.4 ) 60.2 — Asset-backed securities 2,363.7 143.6 (8.2 ) 2,499.1 — Collateralized debt obligations 355.6 .4 (2.0 ) 354.0 — Commercial mortgage-backed securities 1,439.3 14.3 (20.3 ) 1,433.3 — Mortgage pass-through securities 1.5 .1 — 1.6 — Collateralized mortgage obligations 541.0 48.1 (5.1 ) 584.0 (.6 ) Total fixed maturities, available for sale $ 17,929.5 $ 835.8 $ (252.9 ) $ 18,512.4 $ (.6 ) At December 31, 2017 , the amortized cost, gross unrealized gains and losses, estimated fair value, other-than-temporary impairments in accumulated other comprehensive income of fixed maturities, available for sale, and equity securities were as follows (dollars in millions): Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Other-than-temporary impairments included in accumulated other comprehensive income Corporate securities $ 13,286.3 $ 1,699.1 $ (27.0 ) $ 14,958.4 $ — United States Treasury securities and obligations of United States government corporations and agencies 146.4 31.5 (.2 ) 177.7 — States and political subdivisions 1,821.9 234.8 (.4 ) 2,056.3 — Debt securities issued by foreign governments 79.5 3.8 (.2 ) 83.1 — Asset-backed securities 3,085.9 172.6 (4.1 ) 3,254.4 — Collateralized debt obligations 257.1 2.3 — 259.4 — Commercial mortgage-backed securities 1,354.0 33.8 (10.3 ) 1,377.5 — Mortgage pass-through securities 1.8 .2 — 2.0 — Collateralized mortgage obligations 669.2 73.2 (.3 ) 742.1 (1.0 ) Total fixed maturities, available for sale $ 20,702.1 $ 2,251.3 $ (42.5 ) $ 22,910.9 $ (1.0 ) Equity securities $ 420.0 $ 23.6 $ (3.0 ) $ 440.6
Schedule of investments classified by contractual maturity date	The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale, at September 30, 2018 , 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, collateralized debt obligations, commercial mortgage-backed securities, mortgage pass-through securities and collateralized mortgage obligations, 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 $ 367.7 $ 372.8 Due after one year through five years 1,496.2 1,536.2 Due after five years through ten years 1,625.1 1,632.8 Due after ten years 9,739.4 10,098.6 Subtotal 13,228.4 13,640.4 Structured securities 4,701.1 4,872.0 Total fixed maturities, available for sale $ 17,929.5 $ 18,512.4 The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale, at December 31, 2017 , by contractual maturity. Amortized cost Estimated fair value (Dollars in millions) Due in one year or less $ 328.1 $ 335.1 Due after one year through five years 1,947.3 2,052.3 Due after five years through ten years 1,508.7 1,601.3 Due after ten years 11,550.0 13,286.8 Subtotal 15,334.1 17,275.5 Structured securities 5,368.0 5,635.4 Total fixed maturities, available for sale $ 20,702.1 $ 22,910.9
Schedule of realized gain (loss) on investments	The following table sets forth the net realized investment gains (losses) for the periods indicated (dollars in millions): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Fixed maturity securities, available for sale: Gross realized gains on sale $ 5.4 $ 32.3 $ 45.5 $ 60.4 Gross realized losses on sale (11.4 ) (8.5 ) (36.9 ) (16.4 ) Impairments: Total other-than-temporary impairment losses — (3.2 ) — (10.0 ) Other-than-temporary impairment losses recognized in accumulated other comprehensive income — — — (.9 ) Net impairment losses recognized — (3.2 ) — (10.9 ) Net realized investment gains (losses) from fixed maturities (6.0 ) 20.6 8.6 33.1 Equity securities, including change in fair value (a) (3.0 ) 7.7 (13.3 ) 9.6 Mortgage loans — — — 1.0 Impairments of other investments (2.1 ) (1.5 ) (2.1 ) (7.3 ) Loss on dissolution of variable interest entities — (.6 ) — (4.3 ) Other (a) (b) 42.3 3.0 33.8 20.2 Net realized investment gains before net realized gains on the transfer of assets related to reinsurance transaction 31.2 29.2 27.0 52.3 Net realized gains on the transfer of assets related to reinsurance transaction 363.4 — 363.4 — Net realized investment gains $ 394.6 $ 29.2 $ 390.4 $ 52.3 _________________ (a) Changes in the estimated fair value of trading securities that we have elected the fair value option and equity securities (and are still held as of the end of the respective periods) were $(6.0) million and $13.0 million for the nine months ended September 30, 2018 and 2017 , respectively. (b) In April 2016, the Company announced that it had invested in a non-controlling minority interest in Tennenbaum Capital Partners, LLC ("TCP"), a Los Angeles-based investment management firm. In August 2018, Blackrock, Inc. announced the completion of its acquisition of TCP. The sale of our interest in TCP resulted in a significant portion of the net realized gains in the third quarter of 2018.
Schedule of credit losses recognized in earnings	The following table summarizes the amount of credit losses recognized in earnings on fixed maturity securities, available for sale, held at the beginning of the period, for which a portion of the other-than-temporary impairment was also recognized in accumulated other comprehensive income for the three and nine months ended September 30, 2018 and 2017 (dollars in millions): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Credit losses on fixed maturity securities, available for sale, beginning of period $ (.3 ) $ (4.9 ) $ (2.8 ) $ (5.5 ) Add: credit losses on other-than-temporary impairments not previously recognized — — — — Less: credit losses on securities sold .1 — 2.6 1.6 Less: credit losses on securities impaired due to intent to sell (a) — — — — Add: credit losses on previously impaired securities — — — (1.0 ) Less: increases in cash flows expected on previously impaired securities — — — — Credit losses on fixed maturity securities, available for sale, end of period $ (.2 ) $ (4.9 ) $ (.2 ) $ (4.9 ) __________ (a) Represents securities for which the amount previously recognized in accumulated other comprehensive income was recognized in earnings because we intend to sell the security or we more likely than not will be required to sell the security before recovery of its amortized cost basis.
Schedule of unrealized loss on investments	The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at September 30, 2018 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses United States Treasury securities and obligations of United States government corporations and agencies $ 29.6 $ (.3 ) $ 9.9 $ (.2 ) $ 39.5 $ (.5 ) States and political subdivisions 174.2 (3.8 ) 16.8 (.8 ) 191.0 (4.6 ) Debt securities issued by foreign governments 24.4 (1.2 ) 4.3 (.2 ) 28.7 (1.4 ) Corporate securities 4,114.8 (178.8 ) 315.9 (32.0 ) 4,430.7 (210.8 ) Asset-backed securities 512.9 (4.1 ) 165.3 (4.1 ) 678.2 (8.2 ) Collateralized debt obligations 242.7 (2.0 ) — — 242.7 (2.0 ) Commercial mortgage-backed securities 431.8 (6.4 ) 209.3 (13.9 ) 641.1 (20.3 ) Mortgage pass-through securities .1 — — — .1 — Collateralized mortgage obligations 95.7 (4.3 ) 16.8 (.8 ) 112.5 (5.1 ) Total fixed maturities, available for sale $ 5,626.2 $ (200.9 ) $ 738.3 $ (52.0 ) $ 6,364.5 $ (252.9 ) The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at December 31, 2017 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses United States Treasury securities and obligations of United States government corporations and agencies $ 28.2 $ (.2 ) $ .7 $ — $ 28.9 $ (.2 ) States and political subdivisions 18.3 (.1 ) 14.9 (.3 ) 33.2 (.4 ) Debt securities issued by foreign governments 7.7 (.1 ) 5.4 (.1 ) 13.1 (.2 ) Corporate securities 470.5 (6.8 ) 359.7 (20.2 ) 830.2 (27.0 ) Asset-backed securities 601.4 (2.0 ) 122.2 (2.1 ) 723.6 (4.1 ) Collateralized debt obligations 3.0 — — — 3.0 — Commercial mortgage-backed securities 276.8 (1.7 ) 218.2 (8.6 ) 495.0 (10.3 ) Collateralized mortgage obligations 20.5 (.2 ) 11.5 (.1 ) 32.0 (.3 ) Total fixed maturities, available for sale $ 1,426.4 $ (11.1 ) $ 732.6 $ (31.4 ) $ 2,159.0 $ (42.5 ) Equity securities $ 58.7 $ (1.7 ) $ 21.2 $ (1.3 ) $ 79.9 $ (3.0 )

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of earnings per share reconciliation	A reconciliation of net income (loss) and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Net income (loss) for basic and diluted earnings per share $ (529.8 ) $ 100.8 $ (343.3 ) $ 246.5 Shares: Weighted average shares outstanding for basic earnings per share 164,551 168,684 165,903 170,890 Effect of dilutive securities on weighted average shares: Stock options, restricted stock and performance units — 2,298 — 1,910 Weighted average shares outstanding for diluted earnings per share 164,551 170,982 165,903 172,800

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of segment reporting information by segment	Operating information by segment is as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Revenues: Bankers Life: Insurance policy income: Annuities $ 4.3 $ 3.7 $ 13.7 $ 15.5 Health 255.8 259.4 769.0 780.5 Life 103.9 103.7 312.8 310.4 Net investment income (a) 256.9 222.7 661.2 658.9 Fee revenue and other income (a) 10.7 11.3 40.9 32.5 Total Bankers Life revenues 631.6 600.8 1,797.6 1,797.8 Washington National: Insurance policy income: Annuities .4 .5 1.1 1.6 Health 163.7 160.4 491.5 480.3 Life 6.7 6.5 20.2 20.1 Net investment income (a) 69.9 68.0 199.4 201.9 Fee revenue and other income (a) .2 .3 .7 .8 Total Washington National revenues 240.9 235.7 712.9 704.7 Colonial Penn: Insurance policy income: Health .4 .5 1.3 1.6 Life 74.7 72.6 222.4 217.5 Net investment income (a) 11.1 11.0 33.4 33.1 Fee revenue and other income (a) .5 .3 1.4 .9 Total Colonial Penn revenues 86.7 84.4 258.5 253.1 Long-term care in run-off: Insurance policy income - health 47.0 52.0 144.6 159.7 Net investment income (a) 54.1 54.7 164.2 168.0 Total Long-term care in run-off revenues 101.1 106.7 308.8 327.7 Corporate operations: Net investment income 8.0 7.0 13.2 24.8 Fee and other income 1.6 1.8 4.9 6.5 Total corporate revenues 9.6 8.8 18.1 31.3 Total revenues $ 1,069.9 $ 1,036.4 $ 3,095.9 $ 3,114.6 (continued on next page) (continued from previous page) Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Expenses: Bankers Life: Insurance policy benefits $ 390.5 $ 362.1 $ 1,080.5 $ 1,086.7 Amortization 37.3 35.9 119.4 118.3 Interest expense on investment borrowings 7.9 5.3 21.5 14.3 Other operating costs and expenses 101.5 102.2 313.6 310.4 Total Bankers Life expenses 537.2 505.5 1,535.0 1,529.7 Washington National: Insurance policy benefits 143.5 144.7 423.7 436.7 Amortization 14.0 14.3 42.9 43.9 Interest expense on investment borrowings 3.0 1.7 7.8 4.5 Other operating costs and expenses 50.1 47.5 148.5 145.0 Total Washington National expenses 210.6 208.2 622.9 630.1 Colonial Penn: Insurance policy benefits 49.8 47.7 157.1 150.8 Amortization 4.2 3.9 12.9 11.9 Interest expense on investment borrowings .3 .3 1.0 .7 Other operating costs and expenses 26.3 23.5 77.5 73.0 Total Colonial Penn expenses 80.6 75.4 248.5 236.4 Long-term care in run-off: Insurance policy benefits 91.3 86.5 259.9 257.6 Amortization 2.1 2.8 7.0 8.0 Other operating costs and expenses 5.6 6.8 19.3 19.9 Total Long-term care in run-off expenses 99.0 96.1 286.2 285.5 Corporate operations: Interest expense on corporate debt 12.1 11.7 35.9 34.8 Other operating costs and expenses 21.4 23.7 59.4 68.3 Total corporate expenses 33.5 35.4 95.3 103.1 Total expenses 960.9 920.6 2,787.9 2,784.8 Pre-tax operating earnings by segment: Bankers Life 94.4 95.3 262.6 268.1 Washington National 30.3 27.5 90.0 74.6 Colonial Penn 6.1 9.0 10.0 16.7 Long-term care in run-off 2.1 10.6 22.6 42.2 Corporate operations (23.9 ) (26.6 ) (77.2 ) (71.8 ) Pre-tax operating earnings $ 109.0 $ 115.8 $ 308.0 $ 329.8 ___________________ (a) It is not practicable to provide additional components of revenue by product or services.
Reconciliation of operating profit (loss) from segments to consolidated	A reconciliation of segment revenues and expenses to consolidated revenues and expenses and net income (loss) is as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Total segment revenues $ 1,069.9 $ 1,036.4 $ 3,095.9 $ 3,114.6 Net realized investment gains (losses) 31.2 29.2 27.0 52.3 Net realized gains on the transfer of assets related to reinsurance transaction 363.4 — 363.4 — Revenues related to VIEs 16.7 13.7 49.0 40.2 Consolidated revenues 1,481.2 1,079.3 3,535.3 3,207.1 Total segment expenses 960.9 920.6 2,787.9 2,784.8 Insurance policy benefits - fair value changes in embedded derivative liabilities (28.2 ) (2.9 ) (69.5 ) 9.8 Amortization related to fair value changes in embedded derivative liabilities 5.3 .6 13.2 (1.8 ) Amortization related to net realized investment gains (.5 ) .7 (.1 ) 1.0 Expenses related to VIEs 15.9 17.0 49.1 44.8 Fair value changes related to agent deferred compensation plan — 13.4 (11.0 ) 13.4 Loss related to reinsurance transaction 1,067.6 — 1,067.6 — Consolidated expenses 2,021.0 949.4 3,837.2 2,852.0 Income (loss) before tax (539.8 ) 129.9 (301.9 ) 355.1 Income tax expense (benefit): Tax expense (benefit) on period income (loss) (114.8 ) 44.1 (63.4 ) 123.6 Valuation allowance for deferred tax assets and other tax items 104.8 (15.0 ) 104.8 (15.0 ) Net income (loss) $ (529.8 ) $ 100.8 $ (343.3 ) $ 246.5

ACCOUNTING FOR DERIVATIVES (Tab

ACCOUNTING FOR DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value by balance sheet location	Our freestanding and embedded derivatives, which are not designated as hedging instruments, are held at fair value and are summarized as follows (dollars in millions): Fair value September 30, December 31, 2017 Assets: Other invested assets: Fixed index call options $ 143.5 $ 170.2 Reinsurance receivables (6.4 ) (1.4 ) Total assets $ 137.1 $ 168.8 Liabilities: Future policy benefits: Fixed index products $ 1,370.0 $ 1,334.8 Total liabilities $ 1,370.0 $ 1,334.8
Schedule pre-tax gains (losses) recognized in net income for derivative instruments	The following table provides the pre-tax gains (losses) 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, 2018 2017 2018 2017 Net investment income (loss) from policyholder and other special-purpose portfolios: Fixed index call options $ 59.0 $ 30.6 $ 66.8 $ 95.4 Net realized gains (losses): Embedded derivative related to modified coinsurance agreement (.8 ) .3 (5.0 ) 2.4 Insurance policy benefits: Embedded derivative related to fixed index annuities 34.6 12.4 87.6 17.2 Total $ 92.8 $ 43.3 $ 149.4 $ 115.0
Derivatives with master netting arrangements	The following table summarizes information related to derivatives with master netting arrangements or collateral as of September 30, 2018 and December 31, 2017 (dollars in millions): Gross amounts not offset in the balance sheet Gross amounts recognized Gross amounts offset in the balance sheet Net amounts of assets presented in the balance sheet Financial instruments Cash collateral received Net amount September 30, 2018: Fixed index call options $ 143.5 $ — $ 143.5 $ — $ — $ 143.5 December 31, 2017: Fixed index call options 170.2 — 170.2 — — 170.2

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 2017 2018 2017 Current tax expense (benefit) $ (16.9 ) $ 25.9 $ 3.8 $ 68.5 Deferred tax expense 50.0 18.2 80.7 55.1 Valuation allowance applicable to current year income — (2.2 ) — (2.2 ) Income tax expense calculated based on estimated annual effective tax rate 33.1 41.9 84.5 121.4 Tax benefit on long-term care reinsurance transaction (147.9 ) — (147.9 ) — Income tax expense on discrete items: Change in valuation allowance 104.8 (12.8 ) 104.8 (12.8 ) Total income tax expense (benefit) $ (10.0 ) $ 29.1 $ 41.4 $ 108.6
Schedule of effective income tax rate reconciliation	A reconciliation of the U.S. statutory corporate tax rate to the estimated annual effective rate, reflected in the consolidated statement of operations is as follows: Nine months ended September 30, 2018 2017 U.S. statutory corporate rate 21.0 % 35.0 % Valuation allowance (34.7 ) (.6 ) Non-taxable income and nondeductible benefits, net .4 (1.5 ) State taxes (.4 ) 1.3 Estimated annual effective tax rate (13.7 )% 34.2 %
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, December 31, Deferred tax assets: Net federal operating loss carryforwards $ 685.0 $ 489.6 Net state operating loss carryforwards 19.5 9.3 Investments — 4.3 Insurance liabilities 301.0 415.8 Other 43.8 48.9 Gross deferred tax assets 1,049.3 967.9 Deferred tax liabilities: Investments (9.6 ) — Present value of future profits and deferred acquisition costs (174.2 ) (165.4 ) Accumulated other comprehensive income (111.7 ) (337.2 ) Gross deferred tax liabilities (295.5 ) (502.6 ) Net deferred tax assets before valuation allowance 753.8 465.3 Valuation allowance (193.9 ) (89.1 ) Net deferred tax assets 559.9 376.2 Current income taxes prepaid (accrued) 17.9 (9.3 ) Income tax assets, net $ 577.8 $ 366.9
Summary of operating loss carryforwards	(dollars in millions): Net operating loss Year of expiration carryforwards 2023 $ 1,744.8 2025 85.2 2026 149.9 2027 10.8 2028 80.3 2029 213.2 2030 .3 2031 .2 2032 44.4 2033 .6 2034 .9 2035 .8 Total federal non-life NOLs 2,331.4 Post 2017 life NOLs with no expiration 930.7 Total federal NOLs $ 3,262.1

NOTES PAYABLE - DIRECT CORPOR_2

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	The following notes payable were direct corporate obligations of the Company as of September 30, 2018 and December 31, 2017 (dollars in millions): September 30, December 31, 4.500% Senior Notes due May 2020 $ 325.0 $ 325.0 5.250% Senior Notes due May 2025 500.0 500.0 Revolving Credit Agreement (as defined below) 100.0 100.0 Unamortized debt issue costs (8.8 ) (10.4 ) Direct corporate obligations $ 916.2 $ 914.6
Schedule of maturities of long-term debt	The scheduled repayment of our direct corporate obligations was as follows at September 30, 2018 (dollars in millions): Year ending September 30, 2019 $ — 2020 425.0 2021 — 2022 — 2023 — Thereafter 500.0 $ 925.0

INVESTMENT BORROWINGS (Tables)

INVESTMENT BORROWINGS (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 $ 50.0 February 2019 Variable rate – 2.405% 21.8 July 2019 Variable rate – 2.672% 15.0 October 2019 Variable rate – 2.850% 50.0 May 2020 Variable rate – 2.678% 21.8 June 2020 Fixed rate – 1.960% 25.0 September 2020 Variable rate – 2.991% 100.0 September 2020 Variable rate – 2.876% 50.0 September 2020 Variable rate – 2.902% 75.0 September 2020 Variable rate – 2.506% 100.0 October 2020 Variable rate – 2.453% 50.0 December 2020 Variable rate – 2.814% 100.0 July 2021 Variable rate – 2.889% 100.0 July 2021 Variable rate – 2.859% 28.2 August 2021 Fixed rate – 2.550% 57.7 August 2021 Variable rate - 2.871% 125.0 August 2021 Variable rate – 2.696% 50.0 September 2021 Variable rate – 2.851% 22.0 May 2022 Variable rate – 2.665% 100.0 May 2022 Variable rate – 2.505% 10.0 June 2022 Variable rate – 2.941% 50.0 July 2022 Variable rate – 2.703% 50.0 July 2022 Variable rate – 2.722% 50.0 July 2022 Variable rate – 2.719% 50.0 August 2022 Variable rate – 2.733% 50.0 December 2022 Variable rate – 2.621% 50.0 December 2022 Variable rate – 2.621% 24.1 March 2023 Fixed rate – 2.160% 50.0 July 2023 Variable rate – 2.548% 100.0 July 2023 Variable rate – 2.548% 20.5 June 2025 Fixed rate – 2.940% $ 1,646.1

CHANGES IN COMMON STOCK (Tables

CHANGES IN COMMON STOCK (Tables)	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Schedule of options activity	Changes in the number of shares of common stock outstanding were as follows (shares in thousands): Balance, December 31, 2017 166,858 Treasury stock purchased and retired (2,998 ) Stock options exercised 327 (a) Restricted and performance stock vested 447 (b) Balance, September 30, 2018 164,634 ____________________ (a) Such amount was reduced by 69 thousand shares which were tendered to the Company for the payment of the exercise price and required federal and state tax withholdings. (b) Such amount was reduced by 239 thousand shares which were tendered to the Company for the payment of required federal and state tax withholdings owed on the vesting of restricted and performance stock.

RECENTLY ISSUED ACCOUNTING ST_3

RECENTLY ISSUED ACCOUNTING STANDARDS (Tables)	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The impact of adoption was as follows (dollars in millions): January 1, 2018 Amounts prior to effect of adoption of authoritative guidance Effect of adoption of authoritative guidance As adjusted Accumulated other comprehensive income $ 1,212.1 $ (16.3 ) $ 1,195.8 Retained earnings 560.4 16.3 576.7 Total shareholders' equity 4,847.5 — 4,847.5 The impact of adopting the cash flow guidance described above was as follows (dollars in millions): Nine months ended September 30, 2017 Amounts prior to effect of adoption of authoritative guidance Restricted cash COLI death benefits Distributions received from equity method investments As adjusted Cash flows from operating activities: Net investment income $ 898.9 $ — $ — $ 19.0 $ 917.9 Other operating costs (546.0 ) — (3.2 ) — (549.2 ) Net cash flow from operating activities 433.7 — (3.2 ) 19.0 449.5 Cash flows from investing activities: Sales of investments 1,742.5 — — (19.0 ) 1,723.5 Change in cash and cash equivalents held by variable interest entities 83.4 (83.4 ) — — — Other (23.6 ) — 3.2 — (20.4 ) Net cash provided (used) by investing activities 363.3 (83.4 ) 3.2 (19.0 ) 264.1 Net increase (decrease) in cash and cash equivalents 287.0 (83.4 ) — — 203.6 Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of period 478.9 189.3 — — 668.2 Cash and cash equivalents - unrestricted and held by variable interest entities, end of period 765.9 105.9 — — 871.8 The impact of adoption was as follows (dollars in millions): Three months ended September 30, 2018 Impact of Amounts prior As reported adoption to adoption Fee revenue $ 6.4 $ (2.4 ) $ 8.8 Distribution expense (included in other operating costs and expenses) .6 (2.9 ) 3.5 Impact on pre-tax income $ 5.8 $ .5 $ 5.3 Nine months ended September 30, 2018 Impact of Amounts prior As reported adoption to adoption Fee revenue $ 28.8 $ 3.1 $ 25.7 Distribution expense (included in other operating costs and expenses) 13.0 3.6 9.4 Impact on pre-tax income $ 15.8 $ (.5 ) $ 16.3

CONSOLIDATED STATEMENT OF CAS_3

CONSOLIDATED STATEMENT OF CASH FLOW (Tables)	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of the reconciliation for net income provided by operating activities	The following reconciles net income (loss) to net cash from operating activities (dollars in millions): Nine months ended September 30, 2018 2017 Cash flows from operating activities: Net income (loss) $ (343.3 ) $ 246.5 Adjustments to reconcile net income (loss) to net cash from operating activities: Amortization and depreciation 216.1 200.8 Income taxes 10.5 50.6 Insurance liabilities 209.1 321.5 Accrual and amortization of investment income (117.9 ) (214.2 ) Deferral of policy acquisition costs (187.2 ) (183.4 ) Net realized investment gains (27.0 ) (52.3 ) Net realized gains on the transfer of assets related to reinsurance transaction (363.4 ) — Loss related to reinsurance transaction 1,067.6 — Payment to reinsurer pursuant to long-term care business reinsured (365.0 ) — Loss on extinguishment of borrowings related to variable interest entities 3.8 5.5 Other 11.7 74.5 Net cash from operating activities $ 115.0 $ 449.5
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, 2018 2017 Stock options, restricted stock and performance units $ 19.6 $ 17.8

INVESTMENTS IN VARIABLE INTER_2

INVESTMENTS IN VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 VIEs Eliminations Net effect on consolidated balance sheet Assets: Investments held by variable interest entities $ 1,550.5 $ — $ 1,550.5 Notes receivable of VIEs held by subsidiaries — (142.8 ) (142.8 ) Cash and cash equivalents held by variable interest entities 56.4 — 56.4 Accrued investment income 2.6 — 2.6 Income tax assets, net 2.3 — 2.3 Other assets 4.5 (3.9 ) .6 Total assets $ 1,616.3 $ (146.7 ) $ 1,469.6 Liabilities: Other liabilities $ 66.9 $ (6.2 ) $ 60.7 Borrowings related to variable interest entities 1,417.6 — 1,417.6 Notes payable of VIEs held by subsidiaries 155.2 (155.2 ) — Total liabilities $ 1,639.7 $ (161.4 ) $ 1,478.3 December 31, 2017 VIEs Eliminations Net effect on consolidated balance sheet Assets: Investments held by variable interest entities $ 1,526.9 $ — $ 1,526.9 Notes receivable of VIEs held by subsidiaries — (155.5 ) (155.5 ) Cash and cash equivalents held by variable interest entities 178.9 — 178.9 Accrued investment income 2.6 (.1 ) 2.5 Income tax assets, net .7 — .7 Other assets 10.0 (1.5 ) 8.5 Total assets $ 1,719.1 $ (157.1 ) $ 1,562.0 Liabilities: Other liabilities $ 158.3 $ (4.4 ) $ 153.9 Borrowings related to variable interest entities 1,410.7 — 1,410.7 Notes payable of VIEs held by subsidiaries 167.6 (167.6 ) — Total liabilities $ 1,736.6 $ (172.0 ) $ 1,564.6
Summary of variable interest entities by contractual maturity	The following table sets forth the amortized cost and estimated fair value of the investments held by the VIEs at September 30, 2018 , 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 in one year or less $ 5.0 $ 5.0 Due after one year through five years 523.8 521.9 Due after five years through ten years 1,024.3 1,023.6 Total $ 1,553.1 $ 1,550.5

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of financial instruments carried at fair value categorized by input level	The fair value measurements for our financial instruments disclosed at fair value on a recurring basis are as follows (dollars in millions): September 30, 2018 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 $ — $ — $ 1,671.5 $ 1,671.5 $ 1,680.6 Policy loans — — 117.4 117.4 117.4 Other invested assets: Company-owned life insurance — 186.2 — 186.2 186.2 Cash and cash equivalents: Unrestricted 539.2 — — 539.2 539.2 Held by variable interest entities 56.4 — — 56.4 56.4 Liabilities: Policyholder account balances — — 11,449.7 11,449.7 11,449.7 Investment borrowings — 1,647.1 — 1,647.1 1,646.1 Borrowings related to variable interest entities — 1,426.7 — 1,426.7 1,417.6 Notes payable – direct corporate obligations — 938.9 — 938.9 916.2 December 31, 2017 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 $ — $ — $ 1,677.3 $ 1,677.3 $ 1,650.6 Policy loans — — 116.0 116.0 116.0 Other invested assets: Company-owned life insurance — 182.3 — 182.3 182.3 Cash and cash equivalents: Unrestricted 578.4 — — 578.4 578.4 Held by variable interest entities 178.9 — — 178.9 178.9 Liabilities: Policyholder account balances — — 11,220.7 11,220.7 11,220.7 Investment borrowings — 1,648.8 — 1,648.8 1,646.7 Borrowings related to variable interest entities — 1,432.9 — 1,432.9 1,410.7 Notes payable – direct corporate obligations — 962.3 — 962.3 914.6 The following table presents additional information about assets and liabilities 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, 2018 (dollars in millions): September 30, 2018 Beginning balance as of June 30, 2018 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2018 Amount of total gains (losses) for the three months ended September 30, 2018 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 181.9 $ (23.9 ) $ (.8 ) $ .1 $ — $ (4.5 ) $ 152.8 $ — Debt securities issued by foreign governments 3.9 (2.9 ) (.1 ) .1 — — 1.0 — Asset-backed securities 18.4 (.2 ) — (.1 ) — (6.0 ) 12.1 — Total fixed maturities, available for sale 204.2 (27.0 ) (.9 ) .1 — (10.5 ) 165.9 — Equity securities - corporate securities 9.5 — — — — — 9.5 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,333.3 ) (71.3 ) 34.6 — — — (1,370.0 ) 34.6 _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability 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 and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the three months ended September 30, 2018 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 20.4 $ (44.3 ) $ — $ — $ (23.9 ) Debt securities issued by foreign governments 3.0 (5.9 ) — — (2.9 ) Asset-backed securities — (.2 ) — — (.2 ) Total fixed maturities, available for sale 23.4 (50.4 ) — — (27.0 ) Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (41.8 ) .8 (50.3 ) 20.0 (71.3 ) The following table presents additional information about assets and liabilities 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, 2018 (dollars in millions): September 30, 2018 Beginning balance as of December 31, 2017 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2018 Amount of total gains (losses) for the nine months ended September 30, 2018 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 230.4 $ (23.2 ) $ .7 $ (3.1 ) $ — $ (52.0 ) $ 152.8 $ — Debt securities issued by foreign governments 3.9 (2.9 ) (.1 ) .1 — — 1.0 — Asset-backed securities 24.2 (11.4 ) — (.7 ) — — 12.1 — Total fixed maturities, available for sale 258.5 (37.5 ) .6 (3.7 ) — (52.0 ) 165.9 — Equity securities - corporate securities 21.2 (10.9 ) (.8 ) — — — 9.5 — Investments held by variable interest entities - corporate securities 4.9 — — — — (4.9 ) — — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,334.8 ) (122.8 ) 87.6 — — — (1,370.0 ) 87.6 _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability 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 and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the nine months ended September 30, 2018 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 31.5 $ (54.7 ) $ — $ — $ (23.2 ) Debt securities issued by foreign governments 3.0 (5.9 ) — — (2.9 ) Asset-backed securities — (11.4 ) — — (11.4 ) Total fixed maturities, available for sale 34.5 (72.0 ) — — (37.5 ) Equity securities - corporate securities — (10.9 ) — — (10.9 ) Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (125.1 ) 7.7 (64.4 ) 59.0 (122.8 ) The following table presents additional information about assets and liabilities 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, 2017 (dollars in millions): September 30, 2017 Beginning balance as of June 30, 2017 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2017 Amount of total gains (losses) for the three months ended September 30, 2017 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 263.3 $ (44.8 ) $ 1.7 $ 1.3 $ 34.2 $ — $ 255.7 $ (3.2 ) Debt securities issued by foreign governments 3.9 — — .1 — — 4.0 — Asset-backed securities 59.6 (1.3 ) — .7 7.1 (6.2 ) 59.9 — Collateralized debt obligations 2.5 (2.5 ) — — — — — — Collateralized mortgage obligations .2 — — (.2 ) — — — — Total fixed maturities, available for sale 329.5 (48.6 ) 1.7 1.9 41.3 (6.2 ) 319.6 (3.2 ) Equity securities - corporate securities 24.6 (8.3 ) 6.4 (1.1 ) — — 21.6 (.5 ) Investments held by variable interest entities - corporate securities — — — — 5.0 — 5.0 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,205.4 ) (56.3 ) 12.4 — — — (1,249.3 ) 12.4 ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability 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 and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the three months ended September 30, 2017 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 15.3 $ (60.1 ) $ — $ — $ (44.8 ) Asset-backed securities 9.9 (11.2 ) — — (1.3 ) Collateralized debt obligations — (2.5 ) — — (2.5 ) Total fixed maturities, available for sale 25.2 (73.8 ) — — (48.6 ) Equity securities - corporate securities — (8.3 ) — — (8.3 ) Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (41.0 ) 1.8 (31.4 ) 14.3 (56.3 ) The following table presents additional information about assets and liabilities 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, 2017 (dollars in millions): September 30, 2017 Beginning balance as of December 31, 2016 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2017 Amount of total gains (losses) for the nine months ended September 30, 2017 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 258.5 $ (44.1 ) $ 9.5 $ .6 $ 31.2 $ — $ 255.7 $ (6.5 ) Debt securities issued by foreign governments 3.9 — — .1 — — 4.0 — Asset-backed securities 60.4 3.8 — 2.3 4.2 (10.8 ) 59.9 — Collateralized debt obligations 5.4 (2.5 ) — — — (2.9 ) — — Commercial mortgage-backed securities 32.0 — — — — (32.0 ) — — Total fixed maturities, available for sale 360.2 (42.8 ) 9.5 3.0 35.4 (45.7 ) 319.6 (6.5 ) Equity securities - corporate securities 25.2 (8.5 ) 6.3 (1.4 ) — — 21.6 (.5 ) Investments held by variable interest entities - corporate securities — 5.0 — — — — 5.0 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,092.3 ) (174.2 ) 17.2 — — — (1,249.3 ) 17.2 ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability 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 and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the nine months ended September 30, 2017 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 64.3 $ (108.4 ) $ — $ — $ (44.1 ) Asset-backed securities 21.9 (18.1 ) — — 3.8 Collateralized debt obligations — (2.5 ) — — (2.5 ) Total fixed maturities, available for sale 86.2 (129.0 ) — — (42.8 ) Equity securities - corporate securities — (8.5 ) — — (8.5 ) Investments held by variable interest entities - corporate securities 5.0 — — — 5.0 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (130.1 ) 5.3 (95.7 ) 46.3 (174.2 ) The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at September 30, 2018 is as follows (dollars in millions): Quoted prices in active markets Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 11,371.7 $ 152.8 $ 11,524.5 United States Treasury securities and obligations of United States government corporations and agencies — 168.7 — 168.7 States and political subdivisions — 1,887.0 — 1,887.0 Debt securities issued by foreign governments — 59.2 1.0 60.2 Asset-backed securities — 2,487.0 12.1 2,499.1 Collateralized debt obligations — 354.0 — 354.0 Commercial mortgage-backed securities — 1,433.3 — 1,433.3 Mortgage pass-through securities — 1.6 — 1.6 Collateralized mortgage obligations — 584.0 — 584.0 Total fixed maturities, available for sale — 18,346.5 165.9 18,512.4 Equity securities - corporate securities 216.3 109.7 9.5 335.5 Trading securities: Asset-backed securities — 89.7 — 89.7 Commercial mortgage-backed securities — 93.2 — 93.2 Collateralized mortgage obligations — 56.1 — 56.1 Total trading securities — 239.0 — 239.0 Investments held by variable interest entities - corporate securities — 1,550.5 — 1,550.5 Other invested assets - derivatives — 143.5 — 143.5 Assets held in separate accounts — 5.1 — 5.1 Total assets carried at fair value by category $ 216.3 $ 20,394.3 $ 175.4 $ 20,786.0 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products $ — $ — $ 1,370.0 $ 1,370.0 The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2017 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 $ — $ 14,728.0 $ 230.4 $ 14,958.4 United States Treasury securities and obligations of United States government corporations and agencies — 177.7 — 177.7 States and political subdivisions — 2,056.3 — 2,056.3 Debt securities issued by foreign governments — 79.2 3.9 83.1 Asset-backed securities — 3,230.2 24.2 3,254.4 Collateralized debt obligations — 259.4 — 259.4 Commercial mortgage-backed securities — 1,377.5 — 1,377.5 Mortgage pass-through securities — 2.0 — 2.0 Collateralized mortgage obligations — 742.1 — 742.1 Total fixed maturities, available for sale — 22,652.4 258.5 22,910.9 Equity securities - corporate securities 287.8 131.6 21.2 440.6 Trading securities: Corporate securities — 21.6 — 21.6 United States Treasury securities and obligations of United States government corporations and agencies — .5 — .5 Asset-backed securities — 95.8 — 95.8 Collateralized debt obligations — 2.7 — 2.7 Commercial mortgage-backed securities — 92.5 — 92.5 Collateralized mortgage obligations — 68.7 — 68.7 Equity securities 2.8 — — 2.8 Total trading securities 2.8 281.8 — 284.6 Investments held by variable interest entities - corporate securities — 1,522.0 4.9 1,526.9 Other invested assets - derivatives — 170.2 — 170.2 Assets held in separate accounts — 5.0 — 5.0 Total assets carried at fair value by category $ 290.6 $ 24,763.0 $ 284.6 $ 25,338.2 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products $ — $ — $ 1,334.8 $ 1,334.8
Schedule of fair value measurement inputs	The following table provides additional information about the significant unobservable (Level 3) inputs developed internally by the Company to determine fair value for certain assets and liabilities carried at fair value at September 30, 2018 (dollars in millions): Fair value at September 30, 2018 Valuation techniques Unobservable inputs Range (weighted average) Assets: Corporate securities (a) $ 98.0 Discounted cash flow analysis Discount margins 1.35% - 8.91% (3.94%) Corporate securities (b) 5.3 Recovery method Percent of recovery expected 0% - 62.20% (57.70%) Asset-backed securities (c) 12.1 Discounted cash flow analysis Discount margins 1.87% Equity securities (d) 1.2 Market comparables EBITDA multiples 1.1X Equity securities (e) 8.3 Recovery method Percent of recovery expected 59.27% - 100.00% (59.52%) Other assets categorized as Level 3 (f) 50.5 Unadjusted third-party price source Not applicable Not applicable Total 175.4 Liabilities: Future policy benefits (g) 1,370.0 Discounted projected embedded derivatives Projected portfolio yields 5.15% - 5.61% (5.60%) Discount rates 1.50% - 2.98% (2.70%) Surrender rates 1.20% - 46.40% (12.30%) ________________________________ (a) Corporate securities - The significant unobservable input used in the fair value measurement of our corporate securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would result in a significantly lower (higher) fair value measurement. (b) Corporate securities - The significant unobservable input used in the fair value measurement of these corporate securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would result in a significantly higher (lower) fair value measurement. (c) Asset-backed securities - The significant unobservable input used in the fair value measurement of these asset-backed securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would result in a significantly lower (higher) 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) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would result in a significantly higher (lower) fair value measurement. (f) Other assets categorized as Level 3 - For these assets, there were no adjustments to quoted market prices obtained from third-party pricing sources. (g) Future policy benefits - The significant unobservable inputs used in the fair value measurement of our embedded derivatives associated with fixed index annuity products are projected portfolio yields, discount rates and surrender rates. Increases (decreases) in projected portfolio yields in isolation would lead to a higher (lower) fair value measurement. The discount rate is based on the Treasury rate adjusted by a margin. Increases (decreases) in the discount rates would lead to a lower (higher) fair value measurement. Assumed surrender rates are used to project how long the contracts remain in force. Generally, the longer the contracts are assumed to be in force the higher the fair value of the embedded derivative. The following table provides additional information about the significant unobservable (Level 3) inputs developed internally by the Company to determine fair value for certain assets and liabilities carried at fair value at December 31, 2017 (dollars in millions): Fair value at December 31, 2017 Valuation techniques Unobservable inputs Range (weighted average) Assets: Corporate securities (a) $ 149.2 Discounted cash flow analysis Discount margins 1.45% - 71.29% (6.96%) Corporate securities (b) 2.8 Recovery method Percent of recovery expected 0% - 21.73% (18.42%) Asset-backed securities (c) 24.2 Discounted cash flow analysis Discount margins 1.80% - 3.71% (2.67%) Equity securities (d) 1.1 Market comparables EBITDA multiples 1.1X Equity securities (e) 20.1 Recovery method Percent of recovery expected 59.1% Other assets categorized as Level 3 (f) 87.2 Unadjusted third-party price source Not applicable Not applicable Total 284.6 Liabilities: Future policy benefits (g) 1,334.8 Discounted projected embedded derivatives Projected portfolio yields 5.15% - 5.61% (5.60%) Discount rates 0.92% - 2.51% (2.00%) Surrender rates 1.20% - 46.40% (12.30%) ________________________________ (a) Corporate securities - The significant unobservable input used in the fair value measurement of our corporate securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would result in a significantly lower (higher) fair value measurement. (b) Corporate securities - The significant unobservable input used in the fair value measurement of these corporate securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would result in a significantly higher (lower) fair value measurement. (c) Asset-backed securities - The significant unobservable input used in the fair value measurement of these asset-backed securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would result in a significantly lower (higher) fair value measurement. (d) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is EBITDA multiples. Generally, increases (decreases) in EBITDA multiples would result in higher (lower) fair value measurements. (e) Equity securities - The significant unobservable input used in the fair value measurement of these equity securities is percentage of recovery expected. Significant increases (decreases) in percentage of recovery expected in isolation would result in a significantly higher (lower) fair value measurement. (f) Other assets categorized as Level 3 - For these assets, there were no adjustments to quoted market prices obtained from third-party pricing sources. (g) Future policy benefits - The significant unobservable inputs used in the fair value measurement of our embedded derivatives associated with fixed index annuity products are projected portfolio yields, discount rates and surrender rates. Increases (decreases) in projected portfolio yields in isolation would lead to a higher (lower) fair value measurement. The discount rate is based on the Treasury rate adjusted by a margin. Increases (decreases) in the discount rates would lead to a lower (higher) fair value measurement. Assumed surrender rates are used to project how long the contracts remain in force. Generally, the longer the contracts are assumed to be in force the higher the fair value of the embedded derivative.

BUSINESS AND BASIS OF PRESENT_2

BUSINESS AND BASIS OF PRESENTATION (Details)	9 Months Ended
	Sep. 30, 2018distribution_channel
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of distribution channels	3

INVESTMENTS - SCHEDULE OF UNREA

INVESTMENTS - SCHEDULE OF UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS INCLUDED IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Net unrealized appreciation (depreciation) on fixed maturity securities, available for sale, on which an other-than-temporary impairment loss has been recognized	$ 1.6		$ 2.6
Net unrealized gains on all other investments	577.2		2,227.3
Adjustment to present value of future profits	(4.5)		(94)
Adjustment to deferred acquisition costs	(56.1)		(292.6)
Adjustment to insurance liabilities	(5)		(295.8)
Deferred income tax liabilities	(109.7)		(335.4)
Accumulated other comprehensive income	$ 403.5	$ 1,195.8	$ 1,212.1

INVESTMENTS - NARRATIVE (Detail

INVESTMENTS - NARRATIVE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Adjustment to insurance liabilities	$ (5)		$ (5)		$ (295.8)
Increase to deferred tax assets due to unrealized gains that would result in premium deficiency if unrealized gains were realized	1.1		1.1
Net realized investment gains (losses)	394.6	$ 29.2	390.4	$ 52.3
Other net realized investment gains, excluding impairment losses	33.3	34.5	29.1	74.8
Gain (loss) on reinsurance transaction, net of taxes	363.4	0	363.4	0
Loss on dissolution of variable interest entities	0	(0.6)	0	(4.3)
Total other-than-temporary impairment losses	(2.1)	(4.7)	(2.1)	(18.2)
Value of available for sale securities sold			1,040.4
Impairment losses recognized	2.1	4.7	2.1	17.3
Other-than-temporary impairments included in accumulated other comprehensive income			0.6
Embedded Derivative Related to Reinsurance Contract
Schedule of Available-for-sale Securities [Line Items]
Embedded derivative, loss on embedded derivative			3
Increase in fair value of embedded derivative				12.3
Coinsurance | Embedded Derivative Related to Reinsurance Contract
Schedule of Available-for-sale Securities [Line Items]
Embedded derivative, loss on embedded derivative			5
Increase in fair value of embedded derivative				2.4
Marketable securities
Schedule of Available-for-sale Securities [Line Items]
Other net realized investment gains, excluding impairment losses			50.4	60.1
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses)	(3)	7.7	(13.3)	9.6
Total fixed maturities, available for sale
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses)	(6)	20.6	8.6	33.1
Gross realized losses on sale	(11.4)	(8.5)	(36.9)	(16.4)
Total other-than-temporary impairment losses	0	(3.2)	0	(10.9)
Corporate securities
Schedule of Available-for-sale Securities [Line Items]
Gross realized losses on sale			26.9
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Gross realized losses on sale			4
Various other investments
Schedule of Available-for-sale Securities [Line Items]
Gross realized losses on sale			6
Impairment losses recognized				7.3
Mortgage loans
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses)	$ 0	$ 0	$ 0	1
Impairment losses recognized				5.2
Fixed income investments | Energy Sector
Schedule of Available-for-sale Securities [Line Items]
Impairment losses recognized				$ 5.7

INVESTMENTS - SCHEDULE OF AMORT

INVESTMENTS - SCHEDULE OF AMORTIZED COST, GROSS UNREALIZED GAINS AND LOSSES, ESTIMATED FAIR VALUE, AND OTHER-THAN-TEMPORARY IMPAIRMENTS (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 17,929.5	$ 20,702.1
Estimated fair value	18,512.4	22,910.9
Other-than-temporary impairments included in accumulated other comprehensive income	(0.6)
Corporate securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	11,266.5	13,286.3
Gross unrealized gains	468.8	1,699.1
Gross unrealized losses	(210.8)	(27)
Estimated fair value	11,524.5	14,958.4
Other-than-temporary impairments included in accumulated other comprehensive income	0	0
United States Treasury securities and obligations of United States government corporations and agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	151.9	146.4
Gross unrealized gains	17.3	31.5
Gross unrealized losses	(0.5)	(0.2)
Estimated fair value	168.7	177.7
Other-than-temporary impairments included in accumulated other comprehensive income	0	0
States and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,749.7	1,821.9
Gross unrealized gains	141.9	234.8
Gross unrealized losses	(4.6)	(0.4)
Estimated fair value	1,887	2,056.3
Other-than-temporary impairments included in accumulated other comprehensive income	0	0
Debt securities issued by foreign governments
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	60.3	79.5
Gross unrealized gains	1.3	3.8
Gross unrealized losses	(1.4)	(0.2)
Estimated fair value	60.2	83.1
Other-than-temporary impairments included in accumulated other comprehensive income	0	0
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	2,363.7	3,085.9
Gross unrealized gains	143.6	172.6
Gross unrealized losses	(8.2)	(4.1)
Estimated fair value	2,499.1	3,254.4
Other-than-temporary impairments included in accumulated other comprehensive income	0	0
Collateralized debt obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	355.6	257.1
Gross unrealized gains	0.4	2.3
Gross unrealized losses	(2)	0
Estimated fair value	354	259.4
Other-than-temporary impairments included in accumulated other comprehensive income	0	0
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,439.3	1,354
Gross unrealized gains	14.3	33.8
Gross unrealized losses	(20.3)	(10.3)
Estimated fair value	1,433.3	1,377.5
Other-than-temporary impairments included in accumulated other comprehensive income	0	0
Mortgage pass-through securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1.5	1.8
Gross unrealized gains	0.1	0.2
Gross unrealized losses	0	0
Estimated fair value	1.6	2
Other-than-temporary impairments included in accumulated other comprehensive income	0	0
Collateralized mortgage obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	541	669.2
Gross unrealized gains	48.1	73.2
Gross unrealized losses	(5.1)	(0.3)
Estimated fair value	584	742.1
Other-than-temporary impairments included in accumulated other comprehensive income	(0.6)	(1)
Total fixed maturities, available for sale
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	17,929.5	20,702.1
Gross unrealized gains	835.8	2,251.3
Gross unrealized losses	(252.9)	(42.5)
Estimated fair value	18,512.4	22,910.9
Other-than-temporary impairments included in accumulated other comprehensive income	$ (0.6)	(1)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		420
Gross unrealized gains		23.6
Gross unrealized losses		(3)
Estimated fair value		$ 440.6

INVESTMENTS - SUMMARY OF INVEST

INVESTMENTS - SUMMARY OF INVESTMENTS BY CONTRACTUAL MATURITY (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Amortized cost
Due in one year or less	$ 367.7	$ 328.1
Due after one year through five years	1,496.2	1,947.3
Due after five years through ten years	1,625.1	1,508.7
Due after ten years	9,739.4	11,550
Subtotal	13,228.4	15,334.1
Structured securities	4,701.1	5,368
Amortized cost	17,929.5	20,702.1
Estimated fair value
Due in one year or less	372.8	335.1
Due after one year through five years	1,536.2	2,052.3
Due after five years through ten years	1,632.8	1,601.3
Due after ten years	10,098.6	13,286.8
Subtotal	13,640.4	17,275.5
Structured securities	4,872	5,635.4
Total fixed maturities, available for sale	$ 18,512.4	$ 22,910.9

INVESTMENTS - NET REALIZED INVE

INVESTMENTS - NET REALIZED INVESTMENT GAINS (LOSSES) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Gain (Loss) on Investments [Line Items]
Portion of other-than-temporary impairment losses recognized in accumulated other comprehensive income	$ 0	$ 0	$ 0	$ (0.9)
Net impairment losses recognized	(2.1)	(4.7)	(2.1)	(18.2)
Total realized gains	394.6	29.2	390.4	52.3
Loss on dissolution of variable interest entities	0	(0.6)	0	(4.3)
Gain (loss) on reinsurance transaction, net of taxes	363.4	0	363.4	0
Investments
Gain (Loss) on Investments [Line Items]
Change in estimated fair value of trading securities			(6)	13
Total fixed maturities, available for sale
Gain (Loss) on Investments [Line Items]
Gross realized gains on sale	5.4	32.3	45.5	60.4
Gross realized losses on sale	(11.4)	(8.5)	(36.9)	(16.4)
Impairment losses recognized	0	(3.2)	0	(10)
Portion of other-than-temporary impairment losses recognized in accumulated other comprehensive income	0	0	0	(0.9)
Net impairment losses recognized	0	(3.2)	0	(10.9)
Total realized gains	(6)	20.6	8.6	33.1
Equity securities
Gain (Loss) on Investments [Line Items]
Total realized gains	(3)	7.7	(13.3)	9.6
Mortgage loans
Gain (Loss) on Investments [Line Items]
Total realized gains	0	0	0	1
Impairments of other investments
Gain (Loss) on Investments [Line Items]
Total realized gains	(2.1)	(1.5)	(2.1)	(7.3)
Other
Gain (Loss) on Investments [Line Items]
Total realized gains	42.3	3	33.8	20.2
Net realized investment gains (losses) before realized gains on the transfer of assets related to reinsurance transaction [Member]
Gain (Loss) on Investments [Line Items]
Total realized gains	31.2	29.2	27	52.3
VIEs
Gain (Loss) on Investments [Line Items]
Loss on dissolution of variable interest entities	$ 0	$ (0.6)	$ 0	$ (4.3)

INVESTMENTS - SCHEDULE OF OTHER

INVESTMENTS - SCHEDULE OF OTHER THAN TEMPORARY IMPAIRMENT (Details) - Available-for-sale securities - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Credit losses on fixed maturity securities, available for sale, beginning of period	$ (0.3)	$ (4.9)	$ (2.8)	$ (5.5)
Add: credit losses on other-than-temporary impairments not previously recognized	0	0	0	0
Less: credit losses on securities sold	0.1	0	2.6	1.6
Less: credit losses on securities impaired due to intent to sell	0	0	0	0
Add: credit losses on previously impaired securities	0	0	0	(1)
Less: increases in cash flows expected on previously impaired securities	0	0	0	0
Credit losses on fixed maturity securities, available for sale, end of period	$ (0.2)	$ (4.9)	$ (0.2)	$ (4.9)

INVESTMENTS - SUMMARY OF INVE_2

INVESTMENTS - SUMMARY OF INVESTMENTS WITH UNREALIZED LOSSES BY INVESTMENT CATEGORY (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	$ 5,626.2	$ 1,426.4
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(200.9)	(11.1)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	738.3	732.6
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(52)	(31.4)
Debt securities, available-for-sale, unrealized loss position	6,364.5	2,159
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(252.9)	(42.5)
United States Treasury securities and obligations of United States government corporations and agencies
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	29.6	28.2
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(0.3)	(0.2)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	9.9	0.7
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(0.2)	0
Debt securities, available-for-sale, unrealized loss position	39.5	28.9
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(0.5)	(0.2)
States and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	174.2	18.3
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(3.8)	(0.1)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	16.8	14.9
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(0.8)	(0.3)
Debt securities, available-for-sale, unrealized loss position	191	33.2
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(4.6)	(0.4)
Debt securities issued by foreign governments
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	24.4	7.7
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(1.2)	(0.1)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	4.3	5.4
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(0.2)	(0.1)
Debt securities, available-for-sale, unrealized loss position	28.7	13.1
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(1.4)	(0.2)
Corporate securities
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	4,114.8	470.5
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(178.8)	(6.8)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	315.9	359.7
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(32)	(20.2)
Debt securities, available-for-sale, unrealized loss position	4,430.7	830.2
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(210.8)	(27)
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	512.9	601.4
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(4.1)	(2)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	165.3	122.2
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(4.1)	(2.1)
Debt securities, available-for-sale, unrealized loss position	678.2	723.6
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(8.2)	(4.1)
Collateralized debt obligations
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	242.7	3
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(2)	0
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	0	0
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	0	0
Debt securities, available-for-sale, unrealized loss position	242.7	3
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(2)	0
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	431.8	276.8
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(6.4)	(1.7)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	209.3	218.2
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(13.9)	(8.6)
Debt securities, available-for-sale, unrealized loss position	641.1	495
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(20.3)	(10.3)
Mortgage pass-through securities
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	0.1
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	0
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	0
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	0
Debt securities, available-for-sale, unrealized loss position	0.1
Debt securities, available-for-sale, unrealized loss position, accumulated loss	0
Collateralized mortgage obligations
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	95.7	20.5
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(4.3)	(0.2)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	16.8	11.5
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(0.8)	(0.1)
Debt securities, available-for-sale, unrealized loss position	112.5	32
Debt securities, available-for-sale, unrealized loss position, accumulated loss	$ (5.1)	(0.3)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months		58.7
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss		(1.7)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer		21.2
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss		(1.3)
Debt securities, available-for-sale, unrealized loss position		79.9
Debt securities, available-for-sale, unrealized loss position, accumulated loss		$ (3)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Net income (loss) for basic and diluted earnings per share	$ (529.8)	$ 100.8	$ (343.3)	$ 246.5
Shares:
Weighted average shares outstanding for basic earnings per share (in shares)	164,551	168,684	165,903	170,890
Effect of dilutive securities on weighted average shares:
Stock options, restricted stock and performance units (in shares)	0	2,298	0	1,910
Weighted average shares outstanding for diluted earnings per share (in shares)	164,551	170,982	165,903	172,800
Common stock, shares, excluded from diluted weighted average shares outstanding	2,146		2,214

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) - USD ($) $ in Millions	Sep. 27, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Statutory liabilities transferred in reinsurance transaction	$ 2,700
Revenues:
Fee revenue and other income		$ 11.9	$ 12.2	$ 44.7	$ 35.5
Total segment revenues		1,069.9	1,036.4	3,095.9	3,114.6
Expenses:
Insurance policy benefits		646.9	638.1	1,851.7	1,941.6
Other operating costs and expenses		205.3	217.5	608.7	631.3
Total expenses		960.9	920.6	2,787.9	2,784.8
Pre-tax operating earnings		109	115.8	308	329.8
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues		1,069.9	1,036.4	3,095.9	3,114.6
Net realized investment gains (losses)		31.2	29.2	27	52.3
Net realized gains on the transfer of assets related to reinsurance transaction		363.4	0	363.4	0
Revenues related to VIEs		16.7	13.7	49	40.2
Total revenues		1,481.2	1,079.3	3,535.3	3,207.1
Total segment expenses		960.9	920.6	2,787.9	2,784.8
Insurance policy benefits - fair value changes in embedded derivative liabilities		(28.2)	(2.9)	(69.5)	9.8
Amortization related to fair value changes in embedded derivative liabilities		5.3	0.6	13.2	(1.8)
Amortization related to net realized investment gains		(0.5)	0.7	(0.1)	1
Expenses related to VIEs		15.9	17	49.1	44.8
Fair value changes related to agent deferred compensation plan		0	13.4	(11)	13.4
Loss related to reinsurance transaction		1,067.6	0	1,067.6	0
Total benefits and expenses		2,021	949.4	3,837.2	2,852
Income (loss) before tax		(539.8)	129.9	(301.9)	355.1
Tax expense (benefit) on period income (loss)		(114.8)	44.1	(63.4)	123.6
Valuation allowance for deferred tax assets and other tax items		104.8	(15)	104.8	(15)
Net income (loss)		(529.8)	100.8	(343.3)	246.5
Bankers Life:
Segment Reporting Information [Line Items]
Total assets transferred, reinsurance transaction		(2,800)		(2,800)
Long-term care in run-off:
Segment Reporting Information [Line Items]
Total assets transferred, reinsurance transaction		2,800		2,800
Operating segments | Bankers Life:
Revenues:
Annuities		4.3	3.7	13.7	15.5
Health		255.8	259.4	769	780.5
Life		103.9	103.7	312.8	310.4
Net investment income		256.9	222.7	661.2	658.9
Fee revenue and other income		10.7	11.3	40.9	32.5
Total segment revenues		631.6	600.8	1,797.6	1,797.8
Expenses:
Insurance policy benefits		390.5	362.1	1,080.5	1,086.7
Amortization		37.3	35.9	119.4	118.3
Interest expense on investment borrowings		7.9	5.3	21.5	14.3
Other operating costs and expenses		101.5	102.2	313.6	310.4
Total expenses		537.2	505.5	1,535	1,529.7
Pre-tax operating earnings		94.4	95.3	262.6	268.1
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues		631.6	600.8	1,797.6	1,797.8
Total segment expenses		537.2	505.5	1,535	1,529.7
Operating segments | Washington National:
Revenues:
Annuities		0.4	0.5	1.1	1.6
Health		163.7	160.4	491.5	480.3
Life		6.7	6.5	20.2	20.1
Net investment income		69.9	68	199.4	201.9
Fee revenue and other income		0.2	0.3	0.7	0.8
Total segment revenues		240.9	235.7	712.9	704.7
Expenses:
Insurance policy benefits		143.5	144.7	423.7	436.7
Amortization		14	14.3	42.9	43.9
Interest expense on investment borrowings		3	1.7	7.8	4.5
Other operating costs and expenses		50.1	47.5	148.5	145
Total expenses		210.6	208.2	622.9	630.1
Pre-tax operating earnings		30.3	27.5	90	74.6
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues		240.9	235.7	712.9	704.7
Total segment expenses		210.6	208.2	622.9	630.1
Operating segments | Colonial Penn:
Revenues:
Health		0.4	0.5	1.3	1.6
Life		74.7	72.6	222.4	217.5
Net investment income		11.1	11	33.4	33.1
Fee revenue and other income		0.5	0.3	1.4	0.9
Total segment revenues		86.7	84.4	258.5	253.1
Expenses:
Insurance policy benefits		49.8	47.7	157.1	150.8
Amortization		4.2	3.9	12.9	11.9
Interest expense on investment borrowings		0.3	0.3	1	0.7
Other operating costs and expenses		26.3	23.5	77.5	73
Total expenses		80.6	75.4	248.5	236.4
Pre-tax operating earnings		6.1	9	10	16.7
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues		86.7	84.4	258.5	253.1
Total segment expenses		80.6	75.4	248.5	236.4
Operating segments | Long-term care in run-off:
Revenues:
Health		47	52	144.6	159.7
Net investment income		54.1	54.7	164.2	168
Total segment revenues		101.1	106.7	308.8	327.7
Expenses:
Insurance policy benefits		91.3	86.5	259.9	257.6
Amortization		2.1	2.8	7	8
Other operating costs and expenses		5.6	6.8	19.3	19.9
Total expenses		99	96.1	286.2	285.5
Pre-tax operating earnings		2.1	10.6	22.6	42.2
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues		101.1	106.7	308.8	327.7
Total segment expenses		99	96.1	286.2	285.5
Corporate
Revenues:
Net investment income		8	7	13.2	24.8
Fee revenue and other income		1.6	1.8	4.9	6.5
Total segment revenues		9.6	8.8	18.1	31.3
Expenses:
Interest expense on corporate debt		12.1	11.7	35.9	34.8
Other operating costs and expenses		21.4	23.7	59.4	68.3
Total expenses		33.5	35.4	95.3	103.1
Pre-tax operating earnings		(23.9)	(26.6)	(77.2)	(71.8)
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues		9.6	8.8	18.1	31.3
Total segment expenses		$ 33.5	$ 35.4	$ 95.3	$ 103.1

ACCOUNTING FOR DERIVATIVES - FA

ACCOUNTING FOR DERIVATIVES - FAIR VALUE BY BALANCE SHEET LOCATION (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fixed index call options
Derivatives, Fair Value [Line Items]
Assets	$ 143.5	$ 170.2
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets	137.1	168.8
Liabilities	1,370	1,334.8
Not Designated as Hedging Instrument | Fixed index call options | Other invested assets:
Derivatives, Fair Value [Line Items]
Assets	143.5	170.2
Not Designated as Hedging Instrument | Reinsurance receivables | Other invested assets:
Derivatives, Fair Value [Line Items]
Assets	(6.4)	(1.4)
Not Designated as Hedging Instrument | Fixed index products | Future policy benefits:
Derivatives, Fair Value [Line Items]
Liabilities	$ 1,370	$ 1,334.8

ACCOUNTING FOR DERIVATIVES (Det

ACCOUNTING FOR DERIVATIVES (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Embedded Derivative Associated With Modified Coinsurance Agreement
Derivative [Line Items]
Embedded derivative	$ 125
Fixed index call options
Derivative [Line Items]
Notional amount	$ 3,000	$ 3,000

ACCOUNTING FOR DERIVATIVES - SC

ACCOUNTING FOR DERIVATIVES - SCHEDULE PRE-TAX GAINS (LOSSES) RECOGNIZED IN NET INCOME FOR DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ 92.8	$ 43.3	$ 149.4	$ 115
Investment Income | Fixed index call options
Derivative [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	59	30.6	66.8	95.4
Gain (Loss) on Investments | Embedded Derivative | Coinsurance
Derivative [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	(0.8)	0.3	(5)	2.4
Insurance Policy Benefits | Embedded Derivative | Fixed Index Annuity
Derivative [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ 34.6	$ 12.4	$ 87.6	$ 17.2

ACCOUNTING FOR DERIVATIVES - DE

ACCOUNTING FOR DERIVATIVES - DERIVATIVES WITH MASTER NETTING ARRANGEMENTS (Details) - Fixed index call options - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Gross amounts recognized	$ 143.5	$ 170.2
Gross amounts offset in the balance sheet	0	0
Net amounts of assets presented in the balance sheet	143.5	170.2
Financial instruments	0	0
Cash collateral received	0	0
Net amount	$ 143.5	$ 170.2

REINSURANCE (Details)

REINSURANCE (Details) - USD ($) $ in Millions	Sep. 27, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reinsurance Disclosures [Abstract]
Ceded premiums written		$ 25.4	$ 27.1	$ 76	$ 79.9
Ceded insurance policy benefits		19.4	22.6	63.6	69.1
Assumed premiums written		7	7.4	21.2	23.1
Insurance policy benefits related to reinsurance		$ 8.6	$ 10.5	$ 26.6	$ 34
Statutory liabilities transferred in reinsurance transaction	$ 2,700
Negative ceding commission	825
Reinsurance transaction, after-tax charge	661.1
Trust account assets, amount of over collateralization	$ 500

INCOME TAXES - COMPONENTS OF TA

INCOME TAXES - COMPONENTS OF TAX EXPENSE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Current tax expense (benefit)	$ (16.9)	$ 25.9	$ 3.8	$ 68.5
Deferred tax expense	50	18.2	80.7	55.1
Valuation allowance applicable to current year income	0	(2.2)	0	(2.2)
Income tax expense calculated based on estimated annual effective tax rate	33.1	41.9	84.5	121.4
Tax benefit on long-term care reinsurance transaction	(147.9)	0	(147.9)	0
Change in valuation allowance	104.8	(12.8)	104.8	(12.8)
Total income tax expense (benefit)	$ (10)	$ 29.1	$ 41.4	$ 108.6

INCOME TAXES - NARRATIVE (Detai

INCOME TAXES - NARRATIVE (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating Loss Carryforwards [Line Items]
Tax reform provisional income tax expense (benefit)		$ 172.5
Deferred tax assets more likely than not to be realized through future taxable earnings	$ 559.9	376.2		$ 559.9
Net deferred tax assets	753.8	465.3		753.8
Valuation allowance	193.9	89.1		193.9
Valuation allowance for deferred tax assets and other tax items	$ 104.8		$ (15)	$ 104.8	$ (15)
Deferred tax valuation analysis, growth rate for the next five years	3.00%			3.00%
Valuation allowance model, forecast period of Model				5 years
Estimated normalized annual taxable income for the current year				$ 345
Adjusted average non-life taxable income				85
Adjusted average life taxable income				$ 260
Loss limitation based on income of life insurance company, percent	35.00%			35.00%
Loss limitation based on loss of non-life entities, percent	35.00%			35.00%
Federal long-term tax exempt rate	2.32%			2.32%
Ownership change threshold restricting NOL usage	50.00%			50.00%
Net operating loss carryforwards	$ 3,262.1			$ 3,262.1
Net state operating loss carryforwards	19.5	$ 9.3		19.5
Federal
Operating Loss Carryforwards [Line Items]
Valuation allowance	182.2			182.2
Net operating loss carryforwards	3,300			3,300
State
Operating Loss Carryforwards [Line Items]
Valuation allowance	11.7			11.7
No Expiration
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 930.7			$ 930.7

INCOME TAXES - RECONCILIATION O

INCOME TAXES - RECONCILIATION OF CORPORATE TAX RATE (Details)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
U.S. statutory corporate rate	21.00%	35.00%
Valuation allowance	(34.70%)	(0.60%)
Non-taxable income and nondeductible benefits, net	0.40%	(1.50%)
State taxes	(0.40%)	1.30%
Estimated annual effective tax rate	(13.70%)	34.20%

INCOME TAXES - DEFERRED ASSETS

INCOME TAXES - DEFERRED ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Deferred tax assets:
Net federal operating loss carryforwards	$ 685	$ 489.6
Net state operating loss carryforwards	19.5	9.3
Investments	0	4.3
Insurance liabilities	301	415.8
Other	43.8	48.9
Gross deferred tax assets	1,049.3	967.9
Deferred tax liabilities:
Investments	(9.6)	0
Present value of future profits and deferred acquisition costs	(174.2)	(165.4)
Accumulated other comprehensive income	(111.7)	(337.2)
Gross deferred tax liabilities	(295.5)	(502.6)
Net deferred tax assets before valuation allowance	753.8	465.3
Valuation allowance	(193.9)	(89.1)
Net deferred tax assets	559.9	376.2
Current income taxes prepaid (accrued)	17.9	(9.3)
Income tax assets, net	$ 577.8	$ 366.9

INCOME TAXES - NET OPERATING LO

INCOME TAXES - NET OPERATING LOSSES (Details) $ in Millions	Sep. 30, 2018USD ($)
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 3,262.1
Non-life net operating loss carryforwards	2,331.4
Carryforward Expiration 2023
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	1,744.8
Carryforward Expiration 2025
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	85.2
Carryforward Expiration 2026
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	149.9
Carryforward Expiration 2027
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	10.8
Carryforward Expiration 2028
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	80.3
Carryforward Expiration 2029
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	213.2
Carryforward Expiration 2030
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0.3
Carryforward Expiration 2031
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0.2
Carryforward Expiration 2032
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	44.4
Carryforward Expiration 2033
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0.6
Carryforward Expiration 2034
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0.9
Carryforward Expiration 2035
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0.8
No Expiration
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 930.7

NOTES PAYABLE - DIRECT CORPOR_3

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	May 19, 2015
Debt Instruments [Abstract]
Direct corporate obligations	$ 916.2	$ 914.6
Unamortized debt issue costs	(8.8)	(10.4)
Senior notes | 4.500% Senior Notes due May 2020
Debt Instruments [Abstract]
Direct corporate obligations	$ 325	325
Interest rate	4.50%
Senior notes | 5.250% Senior Notes due May 2025
Debt Instruments [Abstract]
Direct corporate obligations	$ 500	500
Interest rate	5.25%
Line of credit | Revolving credit agreement
Debt Instruments [Abstract]
Direct corporate obligations	$ 100	$ 100	$ 100

NOTES PAYABLE - DIRECT CORPOR_4

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS - REVOLVING CREDIT AGREEMENT (Details) - USD ($) $ in Millions	Oct. 13, 2017	May 19, 2015	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Initial drawing amount			$ 916.2	$ 914.6
Revolving credit agreement | Line of credit
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 250	$ 150
Debt instrument, term		4 years
Initial drawing amount		$ 100	$ 100	$ 100
Interest rate on amounts outstanding at period end			4.12%
Debt covenant, required minimum debt to total capitalization ratio	35.00%
Debt covenant, actual debt to total capitalization ratio at period end			22.60%
Debt covenant, minimum required aggregate total adjusted capital to company action level risk-based capital ratio		250.00%
Debt covenant, actual aggregate total adjusted capital to company action level risk-based capital ratio at period end			450.00%
Debt covenant, minimum required consolidated net worth, component one, amount		$ 2,674
Debt covenant, minimum required consolidated net worth, component two, as a percent of net equity proceeds received from issuance and sale of equity interests		50.00%
Debt covenant, actual consolidated net worth at period end			$ 3,619.9
Debt covenant, required minimum consolidated net worth, amount			$ 2,687.2
Revolving credit agreement | Line of credit | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Minimum | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate	1.375%
Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.375%
Minimum | Revolving credit agreement | Line of credit
Debt Instrument [Line Items]
Remaining borrowing capacity		$ 50
Maximum | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate	2.125%
Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Maximum | Revolving credit agreement | Line of credit
Debt Instrument [Line Items]
Remaining borrowing capacity	$ 100

NOTES PAYABLE - DIRECT CORPOR_5

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS - SCHEDULED REPAYMENT (Details) $ in Millions	Sep. 30, 2018USD ($)
Debt Disclosure [Abstract]
2,019	$ 0
2,020	425
2,021	0
2,022	0
2,023	0
Thereafter	500
Long-term Debt	$ 925

INVESTMENT BORROWINGS (Details)

INVESTMENT BORROWINGS (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)subsidiary	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Number of insurance subsidiaries that are members of the FHLB | subsidiary	3
Investment borrowings	$ 1,646.1		$ 1,646.7
Federal Home Loan Bank advances
Schedule of Trading Securities and Other Trading Assets [Line Items]
Federal home loan bank stock	71.1
Investment borrowings	1,646.1
Federal home loan bank, advances, collateral pledged	2,000
Aggregate fee to prepay all fixed rate FHLB borrowings	1
Interest expense on FHLB borrowings	30.3	$ 19.5
Federal Home Loan Bank advances | Borrowings due February 2019
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.405%
Federal Home Loan Bank advances | Borrowings due July 2019
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 21.8
Interest rate	2.672%
Federal Home Loan Bank advances | Borrowings due October 2019
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 15
Interest rate	2.85%
Federal Home Loan Bank advances | Borrowing due May 2020
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.678%
Federal Home Loan Bank advances | Borrowings due June 2020
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 21.8
Interest rate	1.96%
Federal Home Loan Bank advances | Borrowings due September 2020
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 25
Interest rate	2.991%
Federal Home Loan Bank advances | Borrowings due September 2020 rate two
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Interest rate	2.876%
Federal Home Loan Bank advances | Borrowings due September 2020 rate three
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.902%
Federal Home Loan Bank advances | Borrowings due September 2020 rate four
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 75
Interest rate	2.506%
Federal Home Loan Bank advances | Borrowings due October 2020
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Interest rate	2.453%
Federal Home Loan Bank advances | Borrowings due December 2020
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.814%
Federal Home Loan Bank advances | Borrowings due July 2021
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Interest rate	2.889%
Federal Home Loan Bank advances | Borrowings due July 2021 rate two
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Interest rate	2.859%
Federal Home Loan Bank advances | Borrowings due August 2021
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 28.2
Interest rate	2.55%
Federal Home Loan Bank advances | Borrowings due August 2021 rate two
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 57.7
Interest rate	2.871%
Federal Home Loan Bank advances | Borrowings due August 2021 Rate Three
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 125
Interest rate	2.696%
Federal Home Loan Bank advances | Borrowings due September 2021
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.851%
Federal Home Loan Bank advances | Borrowings due May 2022, Rate One
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 22
Interest rate	2.665%
Federal Home Loan Bank advances | Borrowings due May 2022, Rate Two
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Interest rate	2.505%
Federal Home Loan Bank advances | Borrowings due June 2022
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 10
Interest rate	2.941%
Federal Home Loan Bank advances | Borrowings due July 2022 rate one
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.703%
Federal Home Loan Bank advances | Borrowings due July 2022 rate two
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.722%
Federal Home Loan Bank advances | Borrowings due July 2022 rate three
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.719%
Federal Home Loan Bank advances | Borrowings due August 2022
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.733%
Federal Home Loan Bank advances | Borrowings due December 2022, variable rate 2.621%
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.621%
Federal Home Loan Bank advances | Borrowings due December 2022, variable rate 2.621%, loan 2
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.621%
Federal Home Loan Bank advances | Borrowings due March 2023
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 24.1
Interest rate	2.16%
Federal Home Loan Bank advances | Borrowings Due July 2023 Rate One
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Interest rate	2.548%
Federal Home Loan Bank advances | Borrowings Due July 2023 Rate Two
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Interest rate	2.548%
Federal Home Loan Bank advances | Borrowings due June 2025
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 20.5
Interest rate	2.94%

CHANGES IN COMMON STOCK (Detail

CHANGES IN COMMON STOCK (Details) - USD ($) $ / shares in Units, $ in Millions	4 Months Ended	5 Months Ended	9 Months Ended
	Apr. 30, 2018	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
Number of common shares outstanding
Balance, beginning of year (in shares)	166,857,931		166,857,931
Balance, end of year (in shares)		164,634,365	164,634,365
Number of stock tendered for payment of federal and state taxes owed (in shares)			239,000
Stock repurchased and retired during period, value			$ 60.5	$ 140.1
Stock repurchase program, remaining repurchase authorized amount		$ 325.1	325.1
Common stock dividends declared			$ 48.6	44.7
Dividends (in dollars per share)	$ 0.09	$ 0.10	$ 0.29
Common stock and additional paid-in capital
Number of common shares outstanding
Stock repurchased and retired during period, value			$ 60.5	$ 140.1
Common stock
Number of common shares outstanding
Balance, beginning of year (in shares)	166,858,000		166,858,000
Stock repurchased and retired during period, shares			(2,998,000)
Balance, end of year (in shares)		164,634,000	164,634,000
Stock repurchased and retired during period, shares			2,998,000
Common stock | Stock options
Number of common shares outstanding
Shares issued under employee benefit compensation plans (in shares)			327,000
Number of stock tendered for payment of federal and state taxes owed (in shares)			69,000
Common stock | Restricted and Performance Stock
Number of common shares outstanding
Shares issued under employee benefit compensation plans (in shares)			447,000

SALES INDUCEMENTS (Details)

SALES INDUCEMENTS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Deferred Sales Inducements [Abstract]
Deferred sales inducements	$ 4.8	$ 1.5
Deferred sales inducements, amortization expense	7.6	$ 6.6
Unamortized deferred sales inducements	$ 39.7		$ 42.5

OUT-OF-PERIOD ADJUSTMENTS (Deta

OUT-OF-PERIOD ADJUSTMENTS (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase in insurance policy benefits	$ 646.9	$ 638.1	$ 1,851.7	$ 1,941.6
Decrease in income tax expense	114.8	(44.1)	63.4	(123.6)
Decrease in net income	$ 529.8	$ (100.8)	343.3	$ (246.5)
Restatement Adjustment | Colonial Penn and Bankers Life | Long-term Care and Insurance Benefits and Payouts of Annuities
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase in insurance policy benefits			2.5
Decrease in income tax expense			0.5
Decrease in net income			$ 2
Adjustment to net income per diluted share (in dollars per share)			$ (0.01)
Restatement Adjustment | Bankers Life | Long-term Care Insurance Benefits
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase in insurance policy benefits			$ 1.4
Restatement Adjustment | Colonial Penn | Payout Annuities
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase in insurance policy benefits			$ 1.1

RECENTLY ISSUED ACCOUNTING ST_4

RECENTLY ISSUED ACCOUNTING STANDARDS (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proceeds from interest and dividends received		$ 1,005,700,000	$ 917,900,000
Fee revenue	$ 6,400,000	28,800,000
Distribution expense (included in other operating costs and expenses)	600,000	13,000,000
Impact on pre-tax income	5,800,000	15,800,000
Accumulated other comprehensive income	403,500,000	403,500,000		$ 1,195,800,000	$ 1,212,100,000
Retained earnings	184,800,000	184,800,000		576,700,000	560,400,000
Total shareholders' equity	3,619,900,000	3,619,900,000	4,881,700,000	4,847,500,000	$ 4,847,500,000	$ 4,486,900,000
Other operating costs		(591,900,000)	(549,200,000)
Net cash flow from operating activities		115,000,000	449,500,000
Sales of investments		2,747,200,000	1,723,500,000
Change in cash and cash equivalents held by variable interest entities			0
Other		(16,300,000)	(20,400,000)
Net cash provided (used) by investing activities		(314,600,000)	264,100,000
Net increase (decrease) in cash and cash equivalents		(161,700,000)	203,600,000
Cash and cash equivalents - unrestricted and held by variable interest entities			668,200,000
Cash and cash equivalents - unrestricted and held by variable interest entities			871,800,000
Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated other comprehensive income				(16,300,000)
Retained earnings				16,300,000
Total shareholders' equity				0
Restricted cash
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proceeds from interest and dividends received			0
Other operating costs			0
Net cash flow from operating activities			0
Sales of investments			0
Change in cash and cash equivalents held by variable interest entities			(83,400,000)
Other			0
Net cash provided (used) by investing activities			(83,400,000)
Net increase (decrease) in cash and cash equivalents			(83,400,000)
Cash and cash equivalents - unrestricted and held by variable interest entities			189,300,000
Cash and cash equivalents - unrestricted and held by variable interest entities			105,900,000
COLI death benefits
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proceeds from interest and dividends received			0
Other operating costs			(3,200,000)
Net cash flow from operating activities			(3,200,000)
Sales of investments			0
Change in cash and cash equivalents held by variable interest entities			0
Other			3,200,000
Net cash provided (used) by investing activities			3,200,000
Net increase (decrease) in cash and cash equivalents			0
Cash and cash equivalents - unrestricted and held by variable interest entities			0
Cash and cash equivalents - unrestricted and held by variable interest entities			0
Distributions received from equity method investments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proceeds from interest and dividends received			19,000,000
Other operating costs			0
Net cash flow from operating activities			19,000,000
Sales of investments			(19,000,000)
Change in cash and cash equivalents held by variable interest entities			0
Other			0
Net cash provided (used) by investing activities			(19,000,000)
Net increase (decrease) in cash and cash equivalents			0
Cash and cash equivalents - unrestricted and held by variable interest entities			0
Cash and cash equivalents - unrestricted and held by variable interest entities			0
Pro Forma | Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset	55,000,000	55,000,000
Operating lease, liability	55,000,000	55,000,000
Amounts prior to effect of adoption of authoritative guidance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proceeds from interest and dividends received			898,900,000
Accumulated other comprehensive income				1,212,100,000
Retained earnings				560,400,000
Total shareholders' equity				$ 4,847,500,000
Other operating costs			(546,000,000)
Net cash flow from operating activities			433,700,000
Sales of investments			1,742,500,000
Change in cash and cash equivalents held by variable interest entities			83,400,000
Other			(23,600,000)
Net cash provided (used) by investing activities			363,300,000
Net increase (decrease) in cash and cash equivalents			287,000,000
Cash and cash equivalents - unrestricted and held by variable interest entities			478,900,000
Cash and cash equivalents - unrestricted and held by variable interest entities			$ 765,900,000
Calculated under Revenue Guidance in Effect before Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fee revenue	8,800,000	25,700,000
Distribution expense (included in other operating costs and expenses)	3,500,000	9,400,000
Impact on pre-tax income	5,300,000	16,300,000
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fee revenue	(2,400,000)	3,100,000
Distribution expense (included in other operating costs and expenses)	(2,900,000)	3,600,000
Impact on pre-tax income	$ 500,000	$ (500,000)

LITIGATION AND OTHER LEGAL PR_2

LITIGATION AND OTHER LEGAL PROCEEDINGS (Details)	9 Months Ended
	Sep. 30, 2018state	Jul. 26, 2017individual
Commitments and Contingencies Disclosure [Abstract]
Number of individuals appointed to assume immediate control and power over affairs | individual		2
Number of states participating in examination of compliance with unclaimed property laws | state	40

CONSOLIDATED STATEMENT OF CAS_4

CONSOLIDATED STATEMENT OF CASH FLOW (Details) - USD ($) $ in Millions	Sep. 27, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income (loss)		$ (529.8)	$ 100.8	$ (343.3)	$ 246.5
Adjustments to reconcile net income (loss) to net cash from operating activities:
Amortization and depreciation				216.1	200.8
Income taxes				10.5	50.6
Insurance liabilities				209.1	321.5
Accrual and amortization of investment income				(117.9)	(214.2)
Deferral of policy acquisition costs				(187.2)	(183.4)
Net realized investment gains				(27)	(52.3)
Net Realized Gains On The Transfer Of Assets Related To Reinsurance Transaction, Excluding Cash Expenses				(363.4)	0
Loss related to reinsurance transaction				1,067.6	0
Payment to reinsurer pursuant to long-term care business reinsured				(365)	0
Loss on extinguishment of borrowings related to variable interest entities		0	5.5	3.8	5.5
Other				11.7	74.5
Net cash flow from operating activities				115	449.5
Investments transferred	$ (3,582.1)
Cash paid to reinsurer	(365)
Accrued interest on investments transferred	(51.6)
Present value of future profits and deferred acquisition costs written-off	(61.6)
Reinsurance receivables	2,818
Transaction expenses and other	(14.6)
Release of future loss reserve	189.3
Subtotal	(1,067.6)
Net realized gains on the transfer of assets related to reinsurance transaction		$ 363.4	$ 0	363.4	0
Pre-tax loss related to reinsurance transaction	$ (704.2)
Stock options, restricted stock and performance units				$ 19.6	$ 17.8

INVESTMENTS IN VARIABLE INTER_3

INVESTMENTS IN VARIABLE INTEREST ENTITIES - BALANCE SHEET ITEMS (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Assets:
Investments held by variable interest entities	$ 1,550.5	$ 1,526.9
Cash and cash equivalents held by variable interest entities	56.4	178.9
Liabilities:
Borrowings related to variable interest entities	1,417.6	1,410.7
VIEs
Assets:
Investments held by variable interest entities	1,550.5	1,526.9
Notes receivable of VIEs held by subsidiaries	0	0
Cash and cash equivalents held by variable interest entities	56.4	178.9
Accrued investment income	2.6	2.6
Income tax assets, net	2.3	0.7
Other assets	4.5	10
Total assets	1,616.3	1,719.1
Liabilities:
Other liabilities	66.9	158.3
Borrowings related to variable interest entities	1,417.6	1,410.7
Notes payable of VIEs held by subsidiaries	155.2	167.6
Total liabilities	1,639.7	1,736.6
Eliminations
Assets:
Investments held by variable interest entities	0	0
Notes receivable of VIEs held by subsidiaries	(142.8)	(155.5)
Cash and cash equivalents held by variable interest entities	0	0
Accrued investment income	0	(0.1)
Income tax assets, net	0	0
Other assets	(3.9)	(1.5)
Total assets	(146.7)	(157.1)
Liabilities:
Other liabilities	(6.2)	(4.4)
Borrowings related to variable interest entities	0	0
Notes payable of VIEs held by subsidiaries	(155.2)	(167.6)
Total liabilities	(161.4)	(172)
Net effect on consolidated balance sheet
Assets:
Investments held by variable interest entities	1,550.5	1,526.9
Notes receivable of VIEs held by subsidiaries	(142.8)	(155.5)
Cash and cash equivalents held by variable interest entities	56.4	178.9
Accrued investment income	2.6	2.5
Income tax assets, net	2.3	0.7
Other assets	0.6	8.5
Total assets	1,469.6	1,562
Liabilities:
Other liabilities	60.7	153.9
Borrowings related to variable interest entities	1,417.6	1,410.7
Notes payable of VIEs held by subsidiaries	0	0
Total liabilities	$ 1,478.3	$ 1,564.6

INVESTMENTS IN VARIABLE INTER_4

INVESTMENTS IN VARIABLE INTEREST ENTITIES - NARRATIVE (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018USD ($)investment	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)investment	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Variable Interest Entity [Line Items]
Variable interest entity amortized cost securities held	$ 1,553.1		$ 1,553.1
Variable interest entity, gross unrealized gains fixed maturity securities	6.8		6.8
Variable interest entity gross unrealized losses fixed maturity securities	(9.4)		(9.4)
Estimated fair value of fixed maturity securities	1,550.5		1,550.5
Variable interest entities net realized gain (loss) on investments			(3.2)	$ (2.5)
Variable interest entities net gain (loss) from sale of fixed maturity investments				2.2
Loss on dissolution of variable interest entities	$ 0	$ 0.6	$ 0	4.3
Total other than temporary impairment losses on investments held by variable interest entities				0.4
Number of investments held by VIE, in default | investment	0		0
Variable interest entities, investments sold			$ 41.9	86
Variable interest entity, gross investment losses from sale			3.4	$ 2
Investments held in limited partnerships	$ 459.1		459.1
Unfunded commitments to limited partnerships	231.5		231.5
Less than twelve months
Variable Interest Entity [Line Items]
Fair value investments held by variable interest entity that had been in an unrealized loss position	474.6		474.6		$ 445.4
Gross unrealized losses for a period			5.4		4.9
Greater than twelve months
Variable Interest Entity [Line Items]
Fair value investments held by variable interest entity that had been in an unrealized loss position	$ 101.1		101.1		28.4
Gross unrealized losses for a period			$ 4		$ 1.7

INVESTMENTS IN VARIABLE INTER_5

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF VIEs (Details) $ in Millions	Sep. 30, 2018USD ($)
Investment Holdings [Line Items]
Total amortized cost	$ 1,553.1
Total fair value	1,550.5
Amortized cost
Investment Holdings [Line Items]
Due in one year or less	5
Due after one year through five years	523.8
Due after five years through ten years	1,024.3
Total amortized cost	1,553.1
Estimated fair value
Investment Holdings [Line Items]
Due in one year or less	5
Due after one year through five years	521.9
Due after five years through ten years	1,023.6
Total fair value	$ 1,550.5

FAIR VALUE MEASUREMENTS - NARRA

FAIR VALUE MEASUREMENTS - NARRATIVE (Details)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair value of level 3 fixed maturity securities valued using broker quotes, percentage	29.00%
Available for sale fixed maturities classified as level 3, investment grade, percent	55.00%
Available for sale fixed maturities classified as Level 3 and corporate securities	92.00%

FAIR VALUE MEASUREMENTS - MEASU

FAIR VALUE MEASUREMENTS - MEASUREMENTS BY INPUT LEVEL (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	$ 18,512.4	$ 22,910.9
Trading securities	239	284.6
Investments held by variable interest entities	1,550.5	1,526.9
Assets held in separate accounts	5.1	5
Corporate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	11,524.5	14,958.4
United States Treasury securities and obligations of United States government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	168.7	177.7
States and political subdivisions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1,887	2,056.3
Debt securities issued by foreign governments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	60.2	83.1
Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	2,499.1	3,254.4
Collateralized debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	354	259.4
Commercial mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1,433.3	1,377.5
Mortgage pass-through securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1.6	2
Collateralized mortgage obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	584	742.1
Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value		440.6
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	239	284.6
Investments held by variable interest entities	1,550.5	1,526.9
Assets held in separate accounts	5.1	5
Total assets carried at fair value by category	20,786	25,338.2
Fair Value, Measurements, Recurring | Embedded derivatives associated with fixed index annuity products
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Future policy benefits - embedded derivatives associated with fixed index annuity products	1,370	1,334.8
Fair Value, Measurements, Recurring | Derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets - derivatives	143.5	170.2
Fair Value, Measurements, Recurring | Corporate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	11,524.5	14,958.4
Equity securities - corporate securities	335.5	440.6
Trading securities		21.6
Fair Value, Measurements, Recurring | United States Treasury securities and obligations of United States government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	168.7	177.7
Trading securities		0.5
Fair Value, Measurements, Recurring | States and political subdivisions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1,887	2,056.3
Fair Value, Measurements, Recurring | Debt securities issued by foreign governments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	60.2	83.1
Fair Value, Measurements, Recurring | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	2,499.1	3,254.4
Trading securities	89.7	95.8
Fair Value, Measurements, Recurring | Collateralized debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	354	259.4
Trading securities		2.7
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1,433.3	1,377.5
Trading securities	93.2	92.5
Fair Value, Measurements, Recurring | Mortgage pass-through securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1.6	2
Fair Value, Measurements, Recurring | Collateralized mortgage obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	584	742.1
Trading securities	56.1	68.7
Fair Value, Measurements, Recurring | Total fixed maturities, available for sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	18,512.4	22,910.9
Fair Value, Measurements, Recurring | Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities		2.8
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	0	2.8
Investments held by variable interest entities	0	0
Assets held in separate accounts	0	0
Total assets carried at fair value by category	216.3	290.6
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Embedded derivatives associated with fixed index annuity products
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Future policy benefits - embedded derivatives associated with fixed index annuity products	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets - derivatives	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Corporate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Equity securities - corporate securities	216.3	287.8
Trading securities		0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | United States Treasury securities and obligations of United States government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Trading securities		0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | States and political subdivisions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Debt securities issued by foreign governments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Trading securities	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Collateralized debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Trading securities		0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Commercial mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Trading securities	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Mortgage pass-through securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Collateralized mortgage obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Trading securities	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Total fixed maturities, available for sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1) | Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities		2.8
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	239	281.8
Investments held by variable interest entities	1,550.5	1,522
Assets held in separate accounts	5.1	5
Total assets carried at fair value by category	20,394.3	24,763
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Embedded derivatives associated with fixed index annuity products
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Future policy benefits - embedded derivatives associated with fixed index annuity products	0	0
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets - derivatives	143.5	170.2
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Corporate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	11,371.7	14,728
Equity securities - corporate securities	109.7	131.6
Trading securities		21.6
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | United States Treasury securities and obligations of United States government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	168.7	177.7
Trading securities		0.5
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | States and political subdivisions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1,887	2,056.3
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Debt securities issued by foreign governments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	59.2	79.2
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	2,487	3,230.2
Trading securities	89.7	95.8
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Collateralized debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	354	259.4
Trading securities		2.7
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Commercial mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1,433.3	1,377.5
Trading securities	93.2	92.5
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Mortgage pass-through securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1.6	2
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Collateralized mortgage obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	584	742.1
Trading securities	56.1	68.7
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Total fixed maturities, available for sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	18,346.5	22,652.4
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities		0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	0	0
Investments held by variable interest entities	0	4.9
Assets held in separate accounts	0	0
Total assets carried at fair value by category	175.4	284.6
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Embedded derivatives associated with fixed index annuity products
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Future policy benefits - embedded derivatives associated with fixed index annuity products	1,370	1,334.8
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets - derivatives	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Corporate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	152.8	230.4
Equity securities - corporate securities	9.5	21.2
Trading securities		0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | United States Treasury securities and obligations of United States government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Trading securities		0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | States and political subdivisions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Debt securities issued by foreign governments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	1	3.9
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	12.1	24.2
Trading securities	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Collateralized debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Trading securities		0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Commercial mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Trading securities	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Mortgage pass-through securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Collateralized mortgage obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	0	0
Trading securities	0	0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Total fixed maturities, available for sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	$ 165.9	258.5
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities		$ 0

FAIR VALUE MEASUREMENTS - RECUR

FAIR VALUE MEASUREMENTS - RECURRING BASIS (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrestricted	$ 595.6	$ 757.3	$ 871.8	$ 668.2
Cash and cash equivalents held by variable interest entities	56.4	178.9
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	1,680.6	1,650.6
Policy loans	117.4	116
Company-owned life insurance	186.2	182.3
Unrestricted	539.2	578.4
Cash and cash equivalents held by variable interest entities	56.4	178.9
Policyholder account balances	11,449.7	11,220.7
Investment borrowings	1,646.1	1,646.7
Borrowings related to variable interest entities	1,417.6	1,410.7
Notes payable – direct corporate obligations	916.2	914.6
Fair Value, Measurements, Recurring | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	1,671.5	1,677.3
Policy loans	117.4	116
Company-owned life insurance	186.2	182.3
Unrestricted	539.2	578.4
Cash and cash equivalents held by variable interest entities	56.4	178.9
Policyholder account balances	11,449.7	11,220.7
Investment borrowings	1,647.1	1,648.8
Borrowings related to variable interest entities	1,426.7	1,432.9
Notes payable – direct corporate obligations	938.9	962.3
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets or liabilities (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	0	0
Policy loans	0	0
Company-owned life insurance	0	0
Unrestricted	539.2	578.4
Cash and cash equivalents held by variable interest entities	56.4	178.9
Policyholder account balances	0	0
Investment borrowings	0	0
Borrowings related to variable interest entities	0	0
Notes payable – direct corporate obligations	0	0
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	0	0
Policy loans	0	0
Company-owned life insurance	186.2	182.3
Unrestricted	0	0
Cash and cash equivalents held by variable interest entities	0	0
Policyholder account balances	0	0
Investment borrowings	1,647.1	1,648.8
Borrowings related to variable interest entities	1,426.7	1,432.9
Notes payable – direct corporate obligations	938.9	962.3
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	1,671.5	1,677.3
Policy loans	117.4	116
Company-owned life insurance	0	0
Unrestricted	0	0
Cash and cash equivalents held by variable interest entities	0	0
Policyholder account balances	11,449.7	11,220.7
Investment borrowings	0	0
Borrowings related to variable interest entities	0	0
Notes payable – direct corporate obligations	$ 0	$ 0

FAIR VALUE MEASUREMENTS - BALAN

FAIR VALUE MEASUREMENTS - BALANCE SHEET RECURRING (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Interest sensitive products
Liabilities:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	$ (1,333.3)	$ (1,205.4)	$ (1,334.8)	$ (1,092.3)
Purchases, sales, issuances and settlements, net	(71.3)	(56.3)	(122.8)	(174.2)
Total realized and unrealized gains (losses) included in net income	34.6	12.4	87.6	17.2
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Fair value, measurement with unobservable inputs reconciliation, ending balance	(1,370)	(1,249.3)	(1,370)	(1,249.3)
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date	34.6	12.4	87.6	17.2
Corporate securities
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	181.9	263.3	230.4	258.5
Purchases, sales, issuances and settlements, net	(23.9)	(44.8)	(23.2)	(44.1)
Total realized and unrealized gains (losses) included in net income	(0.8)	1.7	0.7	9.5
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0.1	1.3	(3.1)	0.6
Transfers into level 3	0	34.2	0	31.2
Transfers out of level 3	(4.5)	0	(52)	0
Fair value, measurement with unobservable inputs reconciliation, ending balance	152.8	255.7	152.8	255.7
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date	0	(3.2)	0	(6.5)
Debt securities issued by foreign governments
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	3.9	3.9	3.9	3.9
Purchases, sales, issuances and settlements, net	(2.9)	0	(2.9)	0
Total realized and unrealized gains (losses) included in net income	(0.1)	0	(0.1)	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0.1	0.1	0.1	0.1
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Fair value, measurement with unobservable inputs reconciliation, ending balance	1	4	1	4
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date	0	0	0	0
Asset-backed securities
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	18.4	59.6	24.2	60.4
Purchases, sales, issuances and settlements, net	(0.2)	(1.3)	(11.4)	3.8
Total realized and unrealized gains (losses) included in net income	0	0	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(0.1)	0.7	(0.7)	2.3
Transfers into level 3	0	7.1	0	4.2
Transfers out of level 3	(6)	(6.2)	0	(10.8)
Fair value, measurement with unobservable inputs reconciliation, ending balance	12.1	59.9	12.1	59.9
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date	0	0	0	0
Collateralized debt obligations
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance		2.5		5.4
Purchases, sales, issuances and settlements, net		(2.5)		(2.5)
Total realized and unrealized gains (losses) included in net income		0		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		0		0
Transfers into level 3		0		0
Transfers out of level 3		0		(2.9)
Fair value, measurement with unobservable inputs reconciliation, ending balance		0		0
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date		0		0
Collateralized mortgage obligations
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance		0.2
Purchases, sales, issuances and settlements, net		0
Total realized and unrealized gains (losses) included in net income		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		(0.2)
Transfers into level 3		0
Transfers out of level 3		0
Fair value, measurement with unobservable inputs reconciliation, ending balance		0		0
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date		0
Commercial mortgage-backed securities
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance				32
Purchases, sales, issuances and settlements, net				0
Total realized and unrealized gains (losses) included in net income				0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)				0
Transfers into level 3				0
Transfers out of level 3				(32)
Fair value, measurement with unobservable inputs reconciliation, ending balance		0		0
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date				0
Total fixed maturities, available for sale
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	204.2	329.5	258.5	360.2
Purchases, sales, issuances and settlements, net	(27)	(48.6)	(37.5)	(42.8)
Total realized and unrealized gains (losses) included in net income	(0.9)	1.7	0.6	9.5
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0.1	1.9	(3.7)	3
Transfers into level 3	0	41.3	0	35.4
Transfers out of level 3	(10.5)	(6.2)	(52)	(45.7)
Fair value, measurement with unobservable inputs reconciliation, ending balance	165.9	319.6	165.9	319.6
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date	0	(3.2)	0	(6.5)
Equity securities
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	9.5	24.6	21.2	25.2
Purchases, sales, issuances and settlements, net	0	(8.3)	(10.9)	(8.5)
Total realized and unrealized gains (losses) included in net income	0	6.4	(0.8)	6.3
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	(1.1)	0	(1.4)
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Fair value, measurement with unobservable inputs reconciliation, ending balance	9.5	21.6	9.5	21.6
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date	0	(0.5)	0	(0.5)
Investments held by variable interest entities - corporate securities
Assets:
Purchases, sales, issuances and settlements, net				5
Investments held by variable interest entities | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Investments held by variable interest entities - corporate securities
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance		0	4.9	0
Purchases, sales, issuances and settlements, net		0	0	5
Total realized and unrealized gains (losses) included in net income		0	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		0	0	0
Transfers into level 3		5	0	0
Transfers out of level 3		0	(4.9)	0
Fair value, measurement with unobservable inputs reconciliation, ending balance	$ 0	5	0	5
Amount of total gains (losses) for the period included in our net income relating to assets and liabilities still held as of the reporting date		$ 0	$ 0	$ 0

FAIR VALUE MEASUREMENTS - FAIR

FAIR VALUE MEASUREMENTS - FAIR VALUE ACTIVITY (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Interest sensitive products
Liabilities:
Purchases	$ (41.8)	$ (41)	$ (125.1)	$ (130.1)
Sales	0.8	1.8	7.7	5.3
Issuances	(50.3)	(31.4)	(64.4)	(95.7)
Settlements	20	14.3	59	46.3
Purchases, sales, issuances and settlements, net	(71.3)	(56.3)	(122.8)	(174.2)
Corporate securities
Assets:
Purchases	20.4	15.3	31.5	64.3
Sales	(44.3)	(60.1)	(54.7)	(108.4)
Issuances	0	0	0	0
Settlements	0	0	0	0
Purchases, sales, issuances and settlements, net	(23.9)	(44.8)	(23.2)	(44.1)
Debt securities issued by foreign governments
Assets:
Purchases	3		3
Sales	(5.9)		(5.9)
Issuances	0		0
Settlements	0		0
Purchases, sales, issuances and settlements, net	(2.9)	0	(2.9)	0
Asset-backed securities
Assets:
Purchases	0	9.9	0	21.9
Sales	(0.2)	(11.2)	(11.4)	(18.1)
Issuances	0	0	0	0
Settlements	0	0	0	0
Purchases, sales, issuances and settlements, net	(0.2)	(1.3)	(11.4)	3.8
Collateralized debt obligations
Assets:
Purchases		0		0
Sales		(2.5)		(2.5)
Issuances		0		0
Settlements		0		0
Purchases, sales, issuances and settlements, net		(2.5)		(2.5)
Total fixed maturities, available for sale
Assets:
Purchases	23.4	25.2	34.5	86.2
Sales	(50.4)	(73.8)	(72)	(129)
Issuances	0	0	0	0
Settlements	0	0	0	0
Purchases, sales, issuances and settlements, net	(27)	(48.6)	(37.5)	(42.8)
Equity securities
Assets:
Purchases		0	0	0
Sales		(8.3)	(10.9)	(8.5)
Issuances		0	0	0
Settlements		0	0	0
Purchases, sales, issuances and settlements, net	$ 0	$ (8.3)	$ (10.9)	(8.5)
Investments held by variable interest entities - corporate securities
Assets:
Purchases				5
Sales				0
Issuances				0
Settlements				0
Purchases, sales, issuances and settlements, net				$ 5

FAIR VALUE MEASUREMENTS - FAI_2

FAIR VALUE MEASUREMENTS - FAIR VALUE INPUTS (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	$ 23,355.4	$ 27,854.1
Other invested assets	920	924.5
Significant unobservable inputs (Level 3)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	175.4	284.6
Other invested assets	50.5	87.2
Policyholder account balances	$ 1,370	$ 1,334.8
Significant unobservable inputs (Level 3) | Minimum | Interest sensitive products
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Projected portfolio yields	5.15%	5.15%
Discount rates	1.50%	0.92%
Surrender rates	1.20%	1.20%
Significant unobservable inputs (Level 3) | Maximum | Interest sensitive products
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Projected portfolio yields	5.61%	5.61%
Discount rates	2.98%	2.51%
Surrender rates	46.40%	46.40%
Significant unobservable inputs (Level 3) | Weighted Average | Interest sensitive products
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Projected portfolio yields	5.60%	5.60%
Discount rates	2.70%	2.00%
Surrender rates	12.30%	12.30%
Significant unobservable inputs (Level 3) | Corporate securities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	$ 98	$ 149.2
Significant unobservable inputs (Level 3) | Corporate securities | Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount margins	1.35%	1.45%
Significant unobservable inputs (Level 3) | Corporate securities | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount margins	8.91%	71.29%
Significant unobservable inputs (Level 3) | Corporate securities | Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount margins	3.94%	6.96%
Significant unobservable inputs (Level 3) | Asset-backed securities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	$ 12.1	$ 24.2
Significant unobservable inputs (Level 3) | Asset-backed securities | Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount margins		1.80%
Significant unobservable inputs (Level 3) | Asset-backed securities | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount margins		3.71%
Significant unobservable inputs (Level 3) | Asset-backed securities | Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount margins	1.87%	2.67%
Significant unobservable inputs (Level 3) | Equity securities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	$ 1.2	$ 1.1
Significant unobservable inputs (Level 3) | Equity securities | Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
EBITDA multiple	110.00%	110.00%
Percent of recovery expected		59.10%
Recovery method | Significant unobservable inputs (Level 3) | Corporate securities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	$ 5.3	$ 2.8
Recovery method | Significant unobservable inputs (Level 3) | Corporate securities | Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percent of recovery expected	0.00%	0.00%
Recovery method | Significant unobservable inputs (Level 3) | Corporate securities | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percent of recovery expected	62.20%	21.73%
Recovery method | Significant unobservable inputs (Level 3) | Corporate securities | Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percent of recovery expected	57.70%	18.42%
Recovery method | Significant unobservable inputs (Level 3) | Equity securities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	$ 8.3	$ 20.1
Recovery method | Significant unobservable inputs (Level 3) | Equity securities | Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percent of recovery expected	59.27%
Recovery method | Significant unobservable inputs (Level 3) | Equity securities | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percent of recovery expected	100.00%
Recovery method | Significant unobservable inputs (Level 3) | Equity securities | Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percent of recovery expected	59.52%