Horace Mann Educators (HMN) 10-Q 10 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	HORACE MANN EDUCATORS CORP /DE/
Entity Central Index Key	0000850141
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Trading Symbol	HMN
Entity Common Stock, Shares Outstanding		41,154,802

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investments
Fixed maturity securities, available for sale, at fair value (amortized cost 2019, $7,487,473; 2018, $7,373,911)	$ 7,798,004	$ 7,515,318
Equity securities, at fair value	105,487	111,750
Limited partnership interests	330,434	328,516
Short-term and other investments	323,853	295,093
Total investments	8,557,778	8,250,677
Cash	7,281	11,906
Deferred policy acquisition costs	275,431	298,742
Goodwill	57,483	47,396
Other assets	439,008	422,047
Separate Account (variable annuity) assets	2,224,099	2,001,128
Total assets	11,561,080	11,031,896
Policy liabilities
Investment contract and life policy reserves	5,748,140	5,711,193
Unpaid claims and claim expenses	393,549	396,714
Unearned premiums	267,029	276,225
Total policy liabilities	6,408,718	6,384,132
Other policyholder funds	821,813	767,988
Other liabilities	384,926	290,358
Long-term debt	297,810	297,740
Separate Account (variable annuity) liabilities	2,224,099	2,001,128
Total liabilities	10,137,366	9,741,346
Preferred stock, $0.001 par value, authorized 1,000,000 shares; none issued	0	0
Common stock, $0.001 par value, authorized 75,000,000 shares; issued, 2019, 66,000,489; 2018, 65,820,369	66	66
Additional paid-in capital	474,336	475,109
Retained earnings	1,236,621	1,216,582
Accumulated other comprehensive income (loss), net of tax:
Net unrealized investment gains on securities	210,839	96,941
Net funded status of benefit plans	(12,185)	(12,185)
Treasury stock, at cost, 2019, 24,850,484 shares; 2018, 24,850,484 shares	(485,963)	(485,963)
Total shareholders’ equity	1,423,714	1,290,550
Total liabilities and shareholders’ equity	$ 11,561,080	$ 11,031,896

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Fixed maturities, available for sale, amortized cost (in usd)	$ 7,487,473	$ 7,373,911
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	66,000,489	65,820,369
Treasury stock (in shares)	24,850,484	24,850,484

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Insurance premiums and contract charges earned	$ 209,785	$ 202,998
Net investment income	92,800	91,864
Net investment gains (losses)	7,417	(1,654)
Other income	3,211	2,281
Total revenues	313,213	295,489
Benefits, losses and expenses
Benefits, claims and settlement expenses	139,384	143,562
Interest credited	52,922	50,035
DAC amortization expense	24,973	26,705
Operating expenses	54,053	48,169
Interest expense	3,303	3,172
Total benefits, losses and expenses	274,635	271,643
Income before income taxes	38,578	23,846
Income tax expense	6,412	3,691
Net income	$ 32,166	$ 20,155
Net income per share
Basic (in usd per share)	$ 0.77	$ 0.49
Diluted (in usd per share)	$ 0.77	$ 0.48
Weighted average number of shares and equivalent shares
Basic (in shares)	41,610	41,497
Diluted (in shares)	41,785	41,653
Net investment gains (losses)
Total other-than-temporary impairment losses on securities	$ (236)	$ (110)
Portion of losses recognized in other comprehensive income (loss)	0	0
Net other-than-temporary impairment losses on securities recognized in earnings	(236)	(110)
Sales and other, net	4,838	2,203
Change in fair value - equity securities	3,506	(5,186)
Change in fair value and gains (losses) realized on settlements - derivative instruments	(691)	1,439
Net investment gains (losses)	$ 7,417	$ (1,654)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Comprehensive income (loss)
Net income	$ 32,166	$ 20,155
Other comprehensive income (loss), net of tax:
Change in net unrealized investment gains (losses) on securities	113,898	(107,096)
Change in net funded status of benefit plans	0	0
Cumulative effect of change in accounting principle	0	(15,041)
Other comprehensive income (loss)	113,898	(122,137)
Total	$ 146,064	$ (101,982)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss), net of tax:	Treasury stock, at cost
Beginning balance at Dec. 31, 2017		$ 65	$ 464,246	$ 1,231,177	$ 286,960	$ (480,875)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised, 2019, 26,094 shares; 2018, 56,614 shares		0
Conversion of common stock units, 2019, 7,585 shares; 2018, 11,804 shares		0
Conversion of restricted stock units, 2019, 146,441 shares; 2018, 105,116 shares		1
Options exercised and conversion of common stock units and restricted stock units			(125)
Share-based compensation expense			2,156
Net income	$ 20,155			20,155
Dividends, 2019, $0.2875 per share; 2018, $0.2850 per share				(11,979)
Change in net unrealized investment gains on securities	(107,096)				(107,096)
Change in net funded status of benefit plans	0				0
Cumulative effect of change in accounting principle	(15,041)			15,041	(15,041)
Acquisition of shares, 2019, 0 shares; 2018, 161 shares						(6)
Ending balance at Mar. 31, 2018	1,404,679	66	466,277	1,254,394	164,823	(480,881)
Beginning balance at Dec. 31, 2018	1,290,550	66	475,109	1,216,582	84,756	(485,963)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised, 2019, 26,094 shares; 2018, 56,614 shares		0
Conversion of common stock units, 2019, 7,585 shares; 2018, 11,804 shares		0
Conversion of restricted stock units, 2019, 146,441 shares; 2018, 105,116 shares		0
Options exercised and conversion of common stock units and restricted stock units			(2,104)
Share-based compensation expense			1,331
Net income	32,166			32,166
Dividends, 2019, $0.2875 per share; 2018, $0.2850 per share				(12,127)
Change in net unrealized investment gains on securities	113,898				113,898
Change in net funded status of benefit plans	0				0
Cumulative effect of change in accounting principle	0			0	0
Acquisition of shares, 2019, 0 shares; 2018, 161 shares						0
Ending balance at Mar. 31, 2019	$ 1,423,714	$ 66	$ 474,336	$ 1,236,621	$ 198,654	$ (485,963)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Common stock, par value (in usd per share)	$ 0.001		$ 0.001
Treasury stock (in shares)	24,850,484		24,850,484
Common stock
Common stock, par value (in usd per share)			$ 0.001	$ 0.001
Options exercised (in shares)	26,094	56,614
Conversion of common stock units (in shares)	7,585	11,804
Conversion of restricted stock units (in shares)	146,441	105,116
Retained earnings
Cash dividends (in usd per share)	$ 0.2875	$ 0.2850
Treasury stock, at cost
Treasury stock (in shares)	24,850,484	24,721,533	24,850,484	24,721,372
Treasury stock, acquisitions (in shares)	0	161

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows - operating activities
Premiums collected	$ 197,695	$ 179,456
Policyholder benefits paid	(101,583)	(131,090)
Policy acquisition and other operating expenses paid	(77,035)	(72,592)
Income taxes recovered	125	690
Investment income collected	89,984	93,426
Interest expense paid	(399)	(256)
Other	16,016	2,492
Net cash provided by operating activities	124,803	72,126
Fixed maturity securities
Purchases	(307,451)	(308,450)
Sales	59,724	89,894
Maturities, paydowns, calls and redemptions	136,141	151,722
Equity securities
Purchases	(3,569)	(2,208)
Sales and repayments	15,489	2,048
Limited partnership interests
Purchases	(8,842)	(13,016)
Sales	9,858	3,996
Change in short-term and other investments, net	(29,341)	42,310
Acquisition of business, net of cash acquired	(18,198)	0
Net cash used in investing activities	(146,189)	(33,704)
Cash flows - financing activities
Dividends paid to shareholders	(11,790)	(11,638)
Acquisition of treasury stock	0	(6)
Proceeds from exercise of stock options	583	1,136
Withholding tax payments on RSUs tendered	(3,311)	(2,061)
Annuity contracts: variable, fixed and FHLB funding agreements
Deposits	157,305	98,837
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets	(109,246)	(112,272)
Life policy accounts
Deposits	2,714	1,111
Withdrawals and surrenders	(904)	(1,329)
Change in book overdrafts	(18,590)	4,124
Net cash provided by (used in) financing activities	16,761	(22,098)
Net increase (decrease) in cash	(4,625)	16,324
Cash at beginning of period	11,906	7,627
Cash at end of period	$ 7,281	$ 23,951

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements of Horace Mann Educators Corporation (HMEC; and together with its subsidiaries, the Company or Horace Mann) have been prepared in conformity with accounting principles generally accepted in the U.S. (GAAP) and with the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and disclosures normally included in annual financial statements prepared in conformity with GAAP, but are not required for interim reporting purposes, have been omitted. The Company believes that these consolidated financial statements contain all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to present fairly the Company’s consolidated financial position as of March 31, 2019 , the consolidated results of operations, comprehensive income (loss), changes in shareholders’ equity and cash flows for the three month periods ended March 31, 2019 and 2018 . The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company has reclassified the presentation of certain prior period information to conform to the current presentation. The subsidiaries of HMEC market and underwrite personal lines of property and casualty insurance products (primarily personal lines of automobile and property insurance), retirement products (primarily tax-qualified annuities) and life insurance, primarily to K-12 teachers, administrators and other employees of public schools and their families. HMEC’s principal operating subsidiaries are Horace Mann Life Insurance Company, Horace Mann Insurance Company, Teachers Insurance Company, Horace Mann Property & Casualty Insurance Company and Horace Mann Lloyds. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 . The results of operations for the three month period ended March 31, 2019 are not necessarily indicative of the results to be expected for the full year. Investment Contract and Life Policy Reserves This table summarizes the Company’s investment contract and life policy reserves. ($ in thousands) March 31, 2019 December 31, 2018 Investment contract reserves $ 4,585,141 $ 4,555,856 Life policy reserves 1,162,999 1,155,337 Total $ 5,748,140 $ 5,711,193 Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) (AOCI) represents the accumulated change in shareholders’ equity from transactions and other events and circumstances from non-shareholder sources. For the Company, AOCI includes the after tax change in net unrealized investment gains (losses) on securities and the after tax change in net funded status of benefit plans for the periods as shown in the Consolidated Statements of Changes in Shareholders’ Equity. The following tables reconcile these components. ($ in thousands) Net Unrealized Investment Gains (Losses) on Securities (1)(2) Net Funded Status of Benefit Plans (1) Total (1)(3) Beginning balance, January 1, 2019 $ 96,941 $ (12,185 ) $ 84,756 Other comprehensive income (loss) before reclassifications 120,303 — 120,303 Amounts reclassified from AOCI (6,405 ) — (6,405 ) Net current period other comprehensive income (loss) 113,898 — 113,898 Ending balance, March 31, 2019 $ 210,839 $ (12,185 ) $ 198,654 Beginning balance, January 1, 2018 $ 300,177 $ (13,217 ) $ 286,960 Other comprehensive income (loss) before reclassifications (109,539 ) — (109,539 ) Amounts reclassified from AOCI 2,443 — 2,443 Cumulative effect of change in accounting principle (3) (15,041 ) — (15,041 ) Net current period other comprehensive income (loss) (122,137 ) — (122,137 ) Ending balance, March 31, 2018 $ 178,040 $ (13,217 ) $ 164,823 ________________ (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $8,108 thousand and $(3,092) thousand , are included in net investment gains (losses) and the related income tax expenses, $1,703 thousand and $(649) thousand , are included in income tax expense in the Consolidated Statements of Operations for the three month periods ended March 31, 2019 and 2018, respectively. (3) The Company adopted guidance on January 1, 2018 that resulted in reclassifying $15,041 thousand of after tax net unrealized gains on equity securities from AOCI to Retained earnings. Comparative information for elements that are not required to be reclassified in their entirety to net income in the same reporting period is located in Note 3. Adopted Accounting Standards Accounting for Leases Effective for the quarter ended March 31, 2019, the Company adopted the updated guidance for leases and elected to utilize a cumulative-effect adjustment to the opening balance of retained earnings for the year of adoption. Accordingly, the Company’s reporting for the comparative periods prior to adoption continue to be presented in the financial statements in accordance with previous lease accounting guidance. The Company also elected to apply all practical expedients applicable to the Company in the updated guidance for transition for leases in effect at adoption, including using hindsight to determine the lease term of existing leases, the option to not reassess whether an existing contract is a lease or contains a lease and whether the lease is an operating or finance lease. The adoption of the updated guidance resulted in the Company recognizing a $14,499 thousand lease liability equal to the present value of lease payments and a $13,908 thousand right-of-use (ROU) asset, which is the corresponding lease liability adjusted for qualifying accrued lease payments. The lease liability and ROU asset are reported in Other liabilities and Other assets on the Consolidated Balance Sheets. The impact of these changes at adoption had no impact on net income or shareholders' equity. Pending Accounting Standards Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued guidance to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments, including reinsurance receivables, held by companies. The new guidance replaces the incurred loss impairment methodology and requires an organization to measure and recognize all current expected credit losses (CECL) for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Companies will need to utilize forward-looking information to better estimate their credit losses. Companies will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Any credit losses related to available for sale debt securities will be recorded through an allowance for credit losses with this allowance having a limit equal to the amount by which fair value is below amortized cost. The guidance also requires enhanced qualitative and quantitative disclosures to provide additional information about the amounts recorded in the financial statements. For public business entities, the guidance is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those years, using a modified-retrospective approach. Early application is permitted for annual reporting periods, and interim periods within those years, beginning after December 15, 2018. Management is evaluating the impact this guidance will have on the results of operations and financial position of the Company. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued guidance to simplify the accounting for goodwill impairment. The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. Entities will be required to disclose the amount of goodwill for reporting units with zero or negative carrying amounts. Public business entities should adopt the guidance prospectively for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early application is permitted. Management believes the adoption of this accounting guidance will not have a material effect on the results of operations and financial position of the Company. Accounting for Long-Duration Insurance Contracts

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Acquisitions	The Company and Benefit Consultants Group, Inc. (BCG) entered into a Stock Purchase Agreement under which the Company acquired all of the outstanding capital stock of BCG with a transaction valued at $25 million . The acquisition was approved by the Company’s Board and closed on January 2, 2019. The acquisition of BCG gave rise to recognition of intangible assets of $16.2 million and goodwill of $10.1 million as a result of the purchase accounting. The intangible assets are reported as Other assets in the Consolidated Balance Sheets. Intangible assets that are amortizable have lives of 10 to 16 years. On December 10, 2018, the Company and NTA Life Enterprises, LLC and Ellard Enterprises, Inc. (collectively, NTA) holding companies and their supplemental insurance subsidiaries entered into a Purchase Agreement under which the Company will acquire all of the equity interests in NTA for $405 million

Investments

Investments	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	Fixed Maturity Securities The Company’s investment portfolio is comprised primarily of fixed maturity securities. The amortized cost, net unrealized investment gains (losses) and fair values of all fixed maturity securities in the portfolio were as follows: ($ in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 31, 2019 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 793,290 $ 32,299 $ 5,402 $ 820,187 Other, including U.S. Treasury securities 848,659 23,333 6,534 865,458 Municipal bonds 1,915,504 171,412 3,872 2,083,044 Foreign government bonds 83,330 3,084 179 86,235 Corporate bonds 2,041,390 104,303 11,601 2,134,092 Other mortgage-backed securities 1,805,300 16,234 12,546 1,808,988 Totals $ 7,487,473 $ 350,665 $ 40,134 $ 7,798,004 December 31, 2018 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 778,038 $ 22,724 $ 13,321 $ 787,441 Other, including U.S. Treasury securities 835,096 16,127 17,681 833,542 Municipal bonds 1,884,313 133,150 13,494 2,003,969 Foreign government bonds 83,343 2,321 760 84,904 Corporate bonds 2,054,105 64,296 38,891 2,079,510 Other mortgage-backed securities 1,739,016 10,467 23,531 1,725,952 Totals $ 7,373,911 $ 249,085 $ 107,678 $ 7,515,318 ________________ (1) Fair value includes securities issued by Federal National Mortgage Association (FNMA) of $474,541 thousand and $441,308 thousand ; Federal Home Loan Mortgage Corporation (FHLMC) of $421,933 thousand and $417,308 thousand ; and Government National Mortgage Association (GNMA) of $96,844 thousand and $96,466 thousand as of March 31, 2019 and December 31, 2018 , respectively. The following table presents the fair value and gross unrealized losses of securities in an unrealized loss position at March 31, 2019 and December 31, 2018 , respectively. The Company views the decrease in fair value of all of the securities with unrealized losses at March 31, 2019 -- which was driven largely by increasing interest rates, spread widening, financial market illiquidity and/or market volatility from the date of acquisition -- as temporary. For fixed maturity securities, management does not have the intent to sell the securities and it is not more likely than not the Company will be required to sell the securities before the anticipated recovery of their amortized cost bases, and management expects to recover the entire amortized cost bases of the fixed maturity securities. Therefore, it was determined that the unrealized losses on the securities presented in the table below were not other than temporarily impaired as of March 31, 2019 . ($ in thousands) 12 Months or Less More than 12 Months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses March 31, 2019 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 4,364 $ 49 $ 218,612 $ 5,353 $ 222,976 $ 5,402 Other 8,230 16 303,498 6,518 311,728 6,534 Municipal bonds 15,003 254 127,688 3,618 142,691 3,872 Foreign government bonds 7,925 59 6,416 120 14,341 179 Corporate bonds 89,954 808 215,797 10,793 305,751 11,601 Other mortgage-backed securities 630,075 8,593 332,167 3,953 962,242 12,546 Total $ 755,551 $ 9,779 $ 1,204,178 $ 30,355 $ 1,959,729 $ 40,134 Number of positions with a gross unrealized loss 234 496 730 Fair value as a percentage of total fixed maturity securities fair value 9.6 % 15.2 % 24.8 % December 31, 2018 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 193,447 $ 5,026 $ 157,295 $ 8,295 $ 350,742 $ 13,321 Other 263,497 6,746 246,213 10,935 509,710 17,681 Municipal bonds 291,869 7,603 95,297 5,891 387,166 13,494 Foreign government bonds 16,250 760 — — 16,250 760 Corporate bonds 818,519 27,429 99,171 11,462 917,690 38,891 Other mortgage-backed securities 913,858 16,076 291,442 7,455 1,205,300 23,531 Total $ 2,497,440 $ 63,640 $ 889,418 $ 44,038 $ 3,386,858 $ 107,678 Number of positions with a gross unrealized loss 1,052 359 1,411 Fair value as a percentage of total fixed maturity securities fair value 32.7 % 11.7 % 44.4 % Fixed maturity securities with an investment grade rating represented 93.3% of the gross unrealized losses as of March 31, 2019 . With respect to fixed maturity securities involving securitized financial assets, the underlying collateral cash flows were stress tested to determine there was no adverse change in the present value of cash flows below their amortized cost bases. Limited Partnership Interests As of March 31, 2019 and December 31, 2018 , the carrying value of equity method limited partnerships totaled $330,434 thousand and $328,516 thousand , respectively. Principal factors influencing carrying value appreciation or decline include operating performance, comparable public company earnings multiples, capitalization rates and the economic environment. The Company recognizes an impairment loss for equity method limited partnerships when evidence demonstrates that the loss is other than temporary. Evidence of a loss in value that is other than temporary may include the absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain a level of earnings that would justify the carrying amount of the investment. Credit Losses The following table summarizes the cumulative amounts related to the Company’s credit loss component of other-than-temporary impairment (OTTI) losses on fixed maturity securities held as of March 31, 2019 and 2018 that the Company did not intend to sell as of those dates, and it was not more likely than not that the Company would be required to sell the securities before the anticipated recovery of the amortized cost bases, for which the non-credit portions of OTTI losses were recognized in OCI: ($ in thousands) Three Months Ended 2019 2018 Cumulative credit loss (1) Beginning of period $ 1,529 $ 3,825 New credit losses — — Increases to previously recognized credit losses — — Losses related to securities sold or paid down during the period — — End of period $ 1,529 $ 3,825 ________________ (1) The cumulative credit loss amounts exclude OTTI losses on securities held as of the periods indicated that the Company intended to sell or it was more likely than not that the Company would be required to sell the security before the recovery of the amortized cost basis. Maturities of Fixed Maturity Securities The following table presents the distribution of the Company’s fixed maturity securities portfolio by estimated expected maturity. Estimated expected maturities differ from contractual maturities, reflecting assumptions regarding borrowers’ utilization of the right to call or prepay obligations with or without call or prepayment penalties. For structured securities, including mortgage-backed securities and other asset-backed securities, estimated expected maturities consider broker-dealer survey prepayment assumptions and are verified for consistency with the interest rate and economic environments. ($ in thousands) Percent of Total Fair Value March 31, 2019 March 31, 2019 December 31, 2018 Fair Value Amortized Cost Estimated expected maturity: Due in 1 year or less 4.8 % 4.8 % $ 371,816 $ 366,071 Due after 1 year through 5 years 23.8 % 22.8 % 1,854,784 1,813,271 Due after 5 years through 10 years 32.3 % 32.8 % 2,522,113 2,450,544 Due after 10 years through 20 years 26.5 % 26.5 % 2,068,846 1,947,733 Due after 20 years 12.6 % 13.1 % 980,445 909,854 Total 100.0 % 100.0 % $ 7,798,004 $ 7,487,473 Average option-adjusted duration, in years 5.7 5.9 Sales of Fixed Maturity and Equity Securities Proceeds received from sales of fixed maturity and equity securities, each determined using the specific identification method, and gross gains and gross losses realized as a result of those sales for each period were: ($ in thousands) Three Months Ended 2019 2018 Fixed maturity securities Proceeds received $ 59,724 $ 89,894 Gross gains realized 542 1,670 Gross losses realized (105 ) (53 ) Equity securities Proceeds received $ 15,489 $ 2,048 Gross gains realized 4,745 616 Gross losses realized (344 ) (34 ) Net Investment Gains (Losses) The following table reconciles the net investment gains (losses) pretax by transaction type: ($ in thousands) Three Months Ended 2019 2018 Impairment write-downs $ — $ — Change in intent write-downs (236 ) (110 ) Net OTTI losses recognized in earnings (236 ) (110 ) Sales and other, net 4,838 2,203 Change in fair value - equity securities 3,506 (5,186 ) Change in fair value and gains (losses) realized on settlements - derivative instruments (691 ) 1,439 Net investment gains (losses) $ 7,417 $ (1,654 ) Net Unrealized Investment Gains (Losses) on Securities The following table reconciles the net unrealized investment gains (losses) on securities, net of tax, included in AOCI, before the impact of DAC: ($ in thousands) Three Months Ended 2019 2018 Net unrealized investment gains (losses) on securities, net of tax Beginning of period $ 111,712 $ 286,176 Change in net unrealized investment gains (losses) on securities 140,012 (67,285 ) Reclassification of net investment (gains) losses on securities to net income (6,405 ) 2,443 Cumulative effect of change in accounting principle (1) — (15,041 ) End of period $ 245,319 $ 206,293 ________________ (1) Effective January 1, 2018, with the adoption of new accounting guidance for recognition and measurement of financial instruments, available for sale equity securities were reclassified to equity securities at fair value and the related net unrealized gains were reclassified from AOCI to Retained earnings. Offsetting of Assets and Liabilities The Company’s derivative instruments (call options) are subject to enforceable master netting arrangements. Collateral support agreements associated with each master netting arrangement provide that the Company will receive or pledge financial collateral in the event minimum thresholds have been reached. The following table presents the instruments that were subject to a master netting arrangement for the Company. ($ in thousands) Gross Amounts Offset in the Net Amounts of Assets/ Liabilities Presented in the Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts Consolidated Balance Sheets Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount March 31, 2019 Asset derivatives: Free-standing derivatives $ 7,643 $ — $ 7,643 $ — $ 6,938 $ 705 December 31, 2018 Asset derivatives: Free-standing derivatives $ 2,647 $ — $ 2,647 $ — $ 1,868 $ 779 Deposits At March 31, 2019 and December 31, 2018 , fixed maturity securities with a fair value of $17,824 thousand and $17,695 thousand , respectively, were on deposit with governmental agencies as required by law in various states in which the insurance subsidiaries of HMEC conduct business. In addition, at March 31, 2019 and December 31, 2018 , fixed maturity securities with a fair value of $800,016 thousand and $740,016 thousand , respectively, were on deposit with the Federal Home Loan Bank of Chicago (FHLB) as collateral for amounts subject to funding agreements, advances and borrowings which were equal to $725,000 thousand at March 31, 2019 and $675,000 thousand at December 31, 2018

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	The Company is required under GAAP to disclose estimated fair values for certain financial and nonfinancial assets and liabilities. Fair values of the Company’s insurance contracts other than annuity contracts (which are investment contracts) are not required to be disclosed. However, the estimated fair values of liabilities under all insurance contracts are taken into consideration in the Company’s overall management of interest rate risk through the matching of investment maturities with amounts due under insurance contracts. Information regarding the three-level hierarchy presented below and the valuation methodologies utilized by the Company to estimate fair values at each reporting date is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 , specifically in Note 3. Financial Instruments Measured and Carried at Fair Value The following table presents the Company’s fair value hierarchy for those assets and liabilities measured and carried at fair value on a recurring basis. At March 31, 2019 , Level 3 invested assets comprised 3.3% of the Company’s total investment portfolio at fair value. ($ in thousands) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 March 31, 2019 Financial Assets Investments Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 820,187 $ 820,187 $ — $ 816,743 $ 3,444 Other, including U.S. Treasury securities 865,458 865,458 17,080 848,378 — Municipal bonds 2,083,044 2,083,044 — 2,035,288 47,756 Foreign government bonds 86,235 86,235 — 86,235 — Corporate bonds 2,134,092 2,134,092 13,722 2,037,888 82,482 Other mortgage-backed securities 1,808,988 1,808,988 — 1,676,642 132,346 Total fixed maturity securities 7,798,004 7,798,004 30,802 7,501,174 266,028 Equity securities 105,487 105,487 55,030 — 50,452 — 5 Short-term investments 143,454 143,454 141,793 1,661 — Other investments 23,393 23,393 — 23,393 — Totals $ 8,070,338 $ 8,070,338 $ 227,625 $ 7,576,680 $ 266,033 Separate Account (variable annuity) assets (1) $ 2,224,099 $ 2,224,099 $ 2,224,099 — — Financial Liabilities Investment contract and life policy reserves, embedded derivatives $ 801 $ 801 $ — $ 801 $ — Other policyholder funds, embedded derivatives $ 84,629 $ 84,629 $ — $ — $ 84,629 December 31, 2018 Financial Assets Investments Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 787,441 $ 787,441 $ — $ 784,224 $ 3,217 Other, including U.S. Treasury securities 833,542 833,542 13,291 820,251 — Municipal bonds 2,003,969 2,003,969 — 1,956,438 47,531 Foreign government bonds 84,904 84,904 — 84,904 — Corporate bonds 2,079,510 2,079,510 12,281 1,986,487 80,742 Other mortgage-backed securities 1,725,952 1,725,952 — 1,608,958 116,994 Total fixed maturity securities 7,515,318 7,515,318 25,572 7,241,262 248,484 Equity securities 111,750 111,750 64,330 47,415 5 Short-term investments 122,222 122,222 117,296 4,926 — Other investments 16,147 16,147 — 16,147 — Totals $ 7,765,437 $ 7,765,437 $ 207,198 $ 7,309,750 $ 248,489 Separate Account (variable annuity) assets (1) $ 2,001,128 $ 2,001,128 $ 2,001,128 Financial Liabilities Investment contract and life policy reserves, embedded derivatives $ 248 $ 248 $ — $ 248 $ — Other policyholder funds, embedded derivatives $ 78,700 $ 78,700 $ — $ — $ 78,700 ________________ (1) Separate Account (variable annuity) liabilities are equal to the estimated fair value of the Separate Account (variable annuity) assets. During the three month periods ended March 31, 2019 and 2018, there were no transfers between Level 1 and Level 2. The following table presents reconciliations for the periods indicated for all Level 3 assets and liabilities measured at fair value on a recurring basis. ($ in thousands) Financial Assets Financial Liabilities (1) Municipal Bonds Corporate Bonds Other Mortgage- Backed Securities (2) Total Fixed Maturity Securities Equity Securities Short-term Investments Total Beginning balance, January 1, 2019 $ 47,531 $ 80,742 $ 120,211 $ 248,484 $ 5 $ — $ 248,489 $ 78,700 Transfers into Level 3 (3) — 3,074 21,934 25,008 — — 25,008 — Transfers out of Level 3 (3) — — — — — — — — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — — — — — — — Net realized (gains) losses included in net income related to financial liabilities — — — — — — — 4,334 Net unrealized investment gains (losses) included in OCI 344 2,549 (152 ) 2,741 — — 2,741 — Purchases — — — — — — — — Issuances — — — — — — — 3,018 Sales — — — — — — — — Settlements — — — — — — — — Paydowns, maturities and distributions (119 ) (3,883 ) (6,203 ) (10,205 ) — — (10,205 ) (1,423 ) Ending balance, March 31, 2019 $ 47,756 $ 82,482 $ 135,790 $ 266,028 $ 5 $ — $ 266,033 $ 84,629 Beginning balance, January 1, 2018 $ 49,328 $ 72,979 $ 107,944 $ 230,251 $ 6 $ — $ 230,257 $ 80,733 Transfers into Level 3 (3) — 10,778 14,822 25,600 — — 25,600 — Transfers out of Level 3 (3) — — — — — — — — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — — — 3 — 3 — Net realized (gains) losses included in net income related to financial liabilities — — — — — — — (2,222 ) Net unrealized investment gains (losses) included in OCI 443 (887 ) (1,022 ) (1,466 ) — — (1,466 ) — Purchases — — — — — — — — Issuances — — — — — — — 1,332 Sales — — — — (3 ) — (3 ) — Settlements — — — — — — — — Paydowns, maturities and distributions (23 ) (4,090 ) (6,410 ) (10,523 ) — — (10,523 ) (1,357 ) Ending balance, March 31, 2018 $ 49,748 $ 78,780 $ 115,334 $ 243,862 $ 6 $ — $ 243,868 $ 78,486 ________________ (1) Represents embedded derivatives, all related to the Company's FIA products, reported in Other policyholder funds in the Company’s Consolidated Balance Sheets. (2) Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities. (3) Transfers into and out of Level 3 during the three month periods ended March 31, 2019 and 2018 were attributable to changes in the availability of observable market information for individual fixed maturity securities and short-term investments. The Company’s policy is to recognize transfers into and transfers out of the levels as having occurred at the end of the reporting period in which the transfers were determined. For the three month period ended March 31, 2019 , the Company had no net losses on Level 3 securities. For the three month period ended March 31, 2018 , the Company had a realized gain on one Level 3 security of $3 thousand . For the three month period ended March 31, 2019 , net investment losses of $4,334 thousand were included in earnings that were attributable to the changes in the fair value of Level 3 liabilities (embedded derivatives) still held; for the three month period ended March 31, 2018 , the respective gain amount was $2,222 thousand . The valuation techniques and significant unobservable inputs used in the fair value measurement for financial assets and liabilities classified as Level 3 are subject to the control processes as described in Note 3 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 . Generally, valuation techniques for fixed maturity securities include spread pricing, matrix pricing and discounted cash flow methodologies; include inputs such as quoted prices for identical or similar securities that are less liquid; and are based on lower levels of trading activity than securities classified as Level 2. The valuation techniques and significant unobservable inputs used in the fair value measurement for equity securities classified as Level 3 use similar valuation techniques and significant unobservable inputs as those used for fixed maturity securities. The sensitivity of the estimated fair values to changes in the significant unobservable inputs for fixed maturity and equity securities included in Level 3 generally relate to interest rate spreads, illiquidity premiums and default rates. Significant spread widening in isolation will adversely impact the overall valuation, while significant spread tightening will lead to substantial valuation increases. Significant increases (decreases) in illiquidity premiums in isolation will result in substantially lower (higher) valuations. Significant increases (decreases) in expected default rates in isolation will result in substantially lower (higher) valuations. Financial Instruments Not Carried at Fair Value; Disclosure Required The Company has various other financial assets and financial liabilities used in the normal course of business that are not carried at fair value, but for which fair value disclosure is required. The following table presents the carrying value, fair value and fair value hierarchy of these financial assets and financial liabilities. ($ in thousands) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 March 31, 2019 Financial Assets Investments Other investments $ 157,006 $ 161,714 $ — $ — $ 161,714 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,585,141 4,509,518 — — 4,509,518 Investment contract and life policy reserves, account values on life contracts 89,048 92,200 — — 92,200 Other policyholder funds 737,184 737,184 — 676,520 60,664 Long-term debt 297,810 306,801 — 306,801 — December 31, 2018 Financial Assets Investments Other investments $ 156,725 $ 161,449 $ — $ — $ 161,449 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,555,849 4,478,338 — — 4,478,338 Investment contract and life policy reserves, 87,229 90,402 — — 90,402 Other policyholder funds 689,287 689,287 — 626,325 62,962 Long-term debt 297,740 291,938 — 291,938 —

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	The Company offers FIA products, which are deferred fixed annuities that guarantee the return of principal to the contractholder and credit interest based on a percentage of the gain in a specified market index. The Company also offers IUL products which credit interest based on a percentage of the gain in a specified market index. When deposits are received for FIA and IUL contracts, a portion is used to purchase derivatives consisting of call options on the applicable market indices to fund the index credits due to FIA and IUL policyholders. For the Company, substantially all such call options are one-year options purchased to match the funding requirements of the underlying contracts. The call options are carried at fair value with changes in fair value included in Net investment gains (losses), a component of revenues, in the Consolidated Statements of Operations. The change in fair value of derivatives includes the gains or losses recognized at the expiration of the option term or early termination and the changes in fair value for open positions. Call options are not purchased to fund the index liabilities which may arise after the next deposit anniversary date. On the respective anniversary dates of the indexed deposits, the index used to compute the annual index credit is reset and new one-year call options are purchased to fund the next annual index credit. The cost of these purchases is managed through the terms of the FIA and IUL contracts, which permit changes to index return caps, participation rates and/or asset fees, subject to guaranteed minimums on each contract’s anniversary date. By adjusting the index return caps, participation rates or asset fees, crediting rates generally can be managed except in cases where the contractual features would prevent further modifications. The future annual index credits on FIA are accounted for as a "series of embedded derivatives" over the expected life of the applicable contract with a corresponding reserve recorded. For IUL, the embedded derivative represents a single year liability for the index return. The Company carries all derivative instruments at fair value in the Consolidated Balance Sheets. The Company elected to not use hedge accounting for derivative transactions related to the FIA and IUL products. As a result, the Company recognizes the purchased call options and the embedded derivatives related to the provision of a contingent return at fair value, with changes in the fair value of the derivatives recognized immediately as Net investment gains (losses) in the Consolidated Statements of Operations. The fair values of derivative instruments, including derivative instruments embedded in FIA and IUL contracts, are presented in the Consolidated Balance Sheets as follows: ($ in thousands) March 31, 2019 December 31, 2018 Assets Derivative instruments, included in Short-term and other investments $ 7,643 $ 2,647 Liabilities FIA - embedded derivatives, included in Other policyholder funds $ 84,629 $ 78,700 IUL - embedded derivatives, included in Investment contract and life policy reserves 801 248 In general, the change in the fair value of the embedded derivatives related to FIA will not correspond to the change in fair value of the purchased call options because the purchased call options are one-year options while the options valued in the embedded derivatives represent the rights of the policyholder to receive index credits over the entire period the FIA contracts are expected to be in force, which typically exceeds 10 years. The changes in fair value of derivatives included in the Consolidated Statements of Operations were as follows: ($ in thousands) Three Months Ended 2019 2018 Change in fair value of derivatives: (1) Revenues Net investment gains (losses) $ 4,054 $ (849 ) Change in fair value of embedded derivatives: Revenues Net investment gains (losses) $ (4,745 ) $ 2,288 ________________ (1) Includes the gains or losses recognized at the expiration of the option term or early termination and the changes in fair value for open options. The Company’s strategy attempts to mitigate potential risk of loss under these agreements through a regular monitoring process, which evaluates the program’s effectiveness. The Company is exposed to risk of loss in the event of nonperformance by the counterparties and, accordingly, option contracts are purchased from multiple counterparties, which are evaluated for creditworthiness prior to purchase of the contracts. All of these options have been purchased from nationally recognized financial institutions with a Standard and Poor’s Global Inc. (S&P)/Moody's Investors Service, Inc. (Moody's) long-term credit rating of "BBB+/A1" or higher at the time of purchase and the maximum credit exposure to any single counterparty is subject to concentration limits. The Company also obtains credit support agreements that allow it to request the counterparty to provide collateral when the fair value of the exposure to the counterparty exceeds specified amounts. The notional amount and fair value of call options by counterparty and each counterparty’s long-term credit ratings were as follows: ($ in thousands) March 31, 2019 December 31, 2018 Credit Rating Notional Fair Notional Fair Counterparty S&P Moody's Amount Value Amount Value Bank of America, N.A. A+ Aa2 $ 164,600 $ 3,302 $ 144,500 $ 870 Barclays Bank PLC A A2 32,600 808 28,500 247 Citigroup Inc. BBB+ — — — — Credit Suisse International A A1 16,100 207 16,100 55 Societe Generale A 78,400 3,326 89,100 1,475 Total $ 291,700 $ 7,643 $ 278,200 $ 2,647 As of March 31, 2019 and December 31, 2018 , the Company held $6,938 thousand and $1,868 thousand , respectively, of cash received from counterparties for derivative collateral, which is included in Other liabilities on the Consolidated Balance Sheets. This derivative collateral limits the Company’s maximum amount of economic loss due to credit risk that would be incurred if parties to the call options failed completely to perform according to the terms of the contracts to $250 thousand

Property and Casualty Unpaid Cl

Property and Casualty Unpaid Claims and Claim Expenses	3 Months Ended
	Mar. 31, 2019
Insurance Loss Reserves [Abstract]
Property and Casualty Unpaid Claims and Claim Expenses	The following table is a summary reconciliation of the beginning and ending Property and Casualty unpaid claims and claim expense reserves for the periods indicated. The table presents reserves on both gross and net (after reinsurance) bases. The total net Property and Casualty insurance claims and claim expense incurred amounts are reflected in the Consolidated Statements of Operations. The end of the period gross reserve (before reinsurance) balances and the reinsurance recoverable balances are reflected on a gross basis in the Consolidated Balance Sheets. ($ in thousands) Three Months Ended 2019 2018 Property and Casualty Beginning gross reserves (1) $ 367,180 $ 319,182 Less: reinsurance recoverables 89,725 57,409 Net reserves, beginning of period (2) 277,455 261,773 Incurred claims and claim expenses: Claims occurring in the current period 118,767 120,988 Decrease in estimated reserves for claims occurring in prior periods (3) (2,000 ) (300 ) Total claims and claim expenses incurred (4) 116,767 120,688 Claims and claim expense payments for claims occurring during: Current period 45,714 47,048 Prior periods 67,135 67,075 Total claims and claim expense payments 112,849 114,123 Net reserves, end of period (2) 281,373 268,338 Plus: reinsurance recoverables 78,328 62,917 Ending gross reserves (1) $ 359,701 $ 331,255 ________________ (1) Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Life and Retirement of $33,848 thousand and $27,062 thousand as of March 31, 2019 and 2018 , respectively, in addition to Property and Casualty reserves. (2) Reserves net of anticipated reinsurance recoverables. (3) Shows the amounts by which the Company decreased its reserves in each of the periods indicated for claims occurring in previous periods to reflect subsequent information on such claims and changes in their projected final settlement costs. (4) Benefits, claims and settlement expenses as reported in the Consolidated Statements of Operations also include amounts for Life and Retirement of $22,617 thousand and $22,874 thousand for the three month periods ended March 31, 2019 and 2018 , respectively, in addition to Property and Casualty amounts. Net favorable development of total reserves for Property and Casualty claims occurring in prior years was $2.0 million and $0.3 million for the three month periods ended March 31, 2019 and 2018 , respectively. The favorable development for the three month period ended March 31, 2019 was predominately the result of favorable loss trends in homeowners and auto physical damage emergence for accident years 2018 and prior. The favorable development of the three month period ended March 31, 2018

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	Indebtedness outstanding was as follows: ($ in thousands) March 31, 2019 December 31, 2018 Short-term debt: Bank Credit Facility, expires June 27, 2023 $ — $ — Long-term debt: 4.50% Senior Notes, due December 1, 2025. Aggregate principal amount of $250,000 thousand less unaccrued discount of $473 and $488 thousand (4.5% imputed rate) and unamortized debt issuance costs of $1,717 thousand and $1,772 thousand 247,810 247,740 Federal Home Loan Bank borrowing 50,000 50,000 Total $ 297,810 $ 297,740 The Credit Agreement with certain financial institutions (Bank Credit Facility), 4.50% Senior Notes due 2025 (Senior Notes due 2025) and FHLB borrowing are described in Note 7 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 . Credit Agreement with Financial Institutions (Bank Credit Facility ) Effective June 27, 2018, the Bank Credit Facility was amended and restated to extend the commitment termination date to June 27, 2023 from the previous termination date of July 30, 2019. The interest rate spread relative to Eurodollar base rates and the financial covenants within the agreement were not changed. The Bank Credit Facility is by and between HMEC, certain financial institutions named therein and JPMorgan Chase Bank, N.A., as administrative agent, and provides for unsecured borrowings of up to $150,000 thousand . Interest accrues at varying spreads relative to prime or Eurodollar base rates and is payable monthly or quarterly depending on the applicable base rate. The unused portion of the Bank Credit Facility is subject to a variable commitment fee, which was 0.15% on an annual basis at March 31, 2019 . HMEC had no balance outstanding under its Bank Credit Facility at March 31, 2019

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Reinsurance	The Company recognizes the cost of reinsurance premiums over the contract periods for such premiums in proportion to the insurance protection provided. Amounts recoverable from reinsurers for unpaid claims and claim settlement expenses, including estimated amounts for unsettled claims, claims incurred but not yet reported and policy benefits, are estimated in a manner consistent with the insurance liability associated with the policy. The effects of reinsurance on premiums written and contract deposits; premiums and contract charges earned; and benefits, claims and settlement expenses were as follows: ($ in thousands) Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Three months ended March 31, 2019 Premiums written and contract deposits (1) $ 299,093 $ 5,848 $ 2,149 $ 295,394 Premiums and contract charges earned 213,256 5,822 2,351 209,785 Benefits, claims and settlement expenses 142,052 4,292 1,624 139,384 Three months ended March 31, 2018 Premiums written and contract deposits (1) $ 288,816 $ 5,514 $ 706 $ 284,008 Premiums and contract charges earned 207,737 5,528 789 202,998 Benefits, claims and settlement expenses 151,968 9,014 608 143,562 ________________ (1)

Commitments

Commitments	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments	Investment Commitments From time to time, the Company has outstanding commitments to purchase investments and/or commitments to lend funds under bridge loans. Unfunded commitments to purchase investments were $135.7 million and $145.4 million at March 31, 2019 and December 31, 2018

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Information	The Company conducts and manages its business through four segments. The three operating segments, representing the major lines of insurance business, are: Property and Casualty, primarily personal lines automobile and property insurance products; Retirement, primarily tax-qualified fixed and variable annuities; and Life, life insurance. The Company does not allocate the impact of corporate-level transactions to these operating segments, consistent with the basis for management’s evaluation of the results of those segments, but classifies those items in the fourth segment, Corporate and Other. In addition to ongoing transactions such as corporate debt service, net investment gains (losses) certain public company expenses, such items also have included corporate debt retirement costs, when applicable. Summarized financial information for these segments is as follows: ($ in thousands) Three Months Ended 2019 2018 Insurance premiums and contract charges earned Property and Casualty $ 170,840 $ 165,458 Retirement 8,578 8,068 Life 30,367 29,472 Total $ 209,785 $ 202,998 Net investment income Property and Casualty $ 10,218 $ 9,516 Retirement 64,739 64,169 Life 18,052 18,340 Corporate and Other (23 ) 36 Intersegment eliminations (186 ) (197 ) Total $ 92,800 $ 91,864 Net income (loss) Property and Casualty $ 15,052 $ 9,722 Retirement 12,151 11,421 Life 3,277 3,787 Corporate and Other 1,686 (4,775 ) Total $ 32,166 $ 20,155 ($ in thousands) March 31, 2019 December 31, 2018 Assets Property and Casualty $ 1,238,041 $ 1,236,362 Retirement 8,307,656 7,866,969 Life 1,883,554 1,821,351 Corporate and Other 163,157 149,014 Intersegment eliminations (31,328 ) (41,800 ) Total $ 11,561,080 $ 11,031,896

Operating Leases

Operating Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Operating Leases	The Company has various operating lease agreements, primarily for real estate (claims and marketing offices in a few states) as well as for computer equipment and copier machines. Such leases have remaining lease terms of 1 years to 6 years, some of which may include options to extend the leases for up to 10 years. The components of lease cost were as follows: ($ in thousands) Three Months Ended Operating lease cost $ 809 Short-term lease cost 24 Total lease cost $ 833 Other information related to operating leases were as follows: ($ in thousands, except lease term and discount rate) Three Months Ended Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities $ 766 Weighted Average Remaining Lease Term 5.22 Weighted Average Discount Rate 4.11 % Future minimum lease payments under non-cancellable operating leases as of March 31, 2019 were as follows: ($ in thousands) Year Ending December 31, 2019 (excluding the three months ended March 31, 2019) $ 2,023 2020 3,108 2021 3,028 2022 2,943 2023 2,246 Thereafter 2,111 Total future minimum lease payments 15,459 Less imputed interest (1,596 ) Total $ 13,863 The carrying amounts of operating lease liabilities, including corresponding right of use assets, are presented on the Consolidated Balance Sheet as follows: ($ in thousands) March 31, 2019 Assets Right of use assets, included in Other assets $ 13,229 Liabilities Operating lease liabilities, included in Other liabilities $ 13,863 As of March 31, 2019

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements of Horace Mann Educators Corporation (HMEC; and together with its subsidiaries, the Company or Horace Mann) have been prepared in conformity with accounting principles generally accepted in the U.S. (GAAP) and with the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and disclosures normally included in annual financial statements prepared in conformity with GAAP, but are not required for interim reporting purposes, have been omitted. The Company believes that these consolidated financial statements contain all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to present fairly the Company’s consolidated financial position as of March 31, 2019 , the consolidated results of operations, comprehensive income (loss), changes in shareholders’ equity and cash flows for the three month periods ended March 31, 2019 and 2018 . The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company has reclassified the presentation of certain prior period information to conform to the current presentation. The subsidiaries of HMEC market and underwrite personal lines of property and casualty insurance products (primarily personal lines of automobile and property insurance), retirement products (primarily tax-qualified annuities) and life insurance, primarily to K-12 teachers, administrators and other employees of public schools and their families. HMEC’s principal operating subsidiaries are Horace Mann Life Insurance Company, Horace Mann Insurance Company, Teachers Insurance Company, Horace Mann Property & Casualty Insurance Company and Horace Mann Lloyds. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 . The results of operations for the three month period ended March 31, 2019
Accumulated Other Comprehensive Income (Loss)	Comparative information for elements that are not required to be reclassified in their entirety to net income in the same reporting period is located in Note 3.Accumulated Other Comprehensive Income (Loss)
Adopted and Pending Accounting Standards	Adopted Accounting Standards Accounting for Leases Effective for the quarter ended March 31, 2019, the Company adopted the updated guidance for leases and elected to utilize a cumulative-effect adjustment to the opening balance of retained earnings for the year of adoption. Accordingly, the Company’s reporting for the comparative periods prior to adoption continue to be presented in the financial statements in accordance with previous lease accounting guidance. The Company also elected to apply all practical expedients applicable to the Company in the updated guidance for transition for leases in effect at adoption, including using hindsight to determine the lease term of existing leases, the option to not reassess whether an existing contract is a lease or contains a lease and whether the lease is an operating or finance lease. The adoption of the updated guidance resulted in the Company recognizing a $14,499 thousand lease liability equal to the present value of lease payments and a $13,908 thousand right-of-use (ROU) asset, which is the corresponding lease liability adjusted for qualifying accrued lease payments. The lease liability and ROU asset are reported in Other liabilities and Other assets on the Consolidated Balance Sheets. The impact of these changes at adoption had no impact on net income or shareholders' equity. Pending Accounting Standards Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued guidance to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments, including reinsurance receivables, held by companies. The new guidance replaces the incurred loss impairment methodology and requires an organization to measure and recognize all current expected credit losses (CECL) for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Companies will need to utilize forward-looking information to better estimate their credit losses. Companies will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Any credit losses related to available for sale debt securities will be recorded through an allowance for credit losses with this allowance having a limit equal to the amount by which fair value is below amortized cost. The guidance also requires enhanced qualitative and quantitative disclosures to provide additional information about the amounts recorded in the financial statements. For public business entities, the guidance is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those years, using a modified-retrospective approach. Early application is permitted for annual reporting periods, and interim periods within those years, beginning after December 15, 2018. Management is evaluating the impact this guidance will have on the results of operations and financial position of the Company. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued guidance to simplify the accounting for goodwill impairment. The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. Entities will be required to disclose the amount of goodwill for reporting units with zero or negative carrying amounts. Public business entities should adopt the guidance prospectively for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early application is permitted. Management believes the adoption of this accounting guidance will not have a material effect on the results of operations and financial position of the Company. Accounting for Long-Duration Insurance Contracts

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment Contract And Life Policy Reserves	This table summarizes the Company’s investment contract and life policy reserves. ($ in thousands) March 31, 2019 December 31, 2018 Investment contract reserves $ 4,585,141 $ 4,555,856 Life policy reserves 1,162,999 1,155,337 Total $ 5,748,140 $ 5,711,193
Accumulated Other Comprehensive Income (Loss)	The following tables reconcile these components. ($ in thousands) Net Unrealized Investment Gains (Losses) on Securities (1)(2) Net Funded Status of Benefit Plans (1) Total (1)(3) Beginning balance, January 1, 2019 $ 96,941 $ (12,185 ) $ 84,756 Other comprehensive income (loss) before reclassifications 120,303 — 120,303 Amounts reclassified from AOCI (6,405 ) — (6,405 ) Net current period other comprehensive income (loss) 113,898 — 113,898 Ending balance, March 31, 2019 $ 210,839 $ (12,185 ) $ 198,654 Beginning balance, January 1, 2018 $ 300,177 $ (13,217 ) $ 286,960 Other comprehensive income (loss) before reclassifications (109,539 ) — (109,539 ) Amounts reclassified from AOCI 2,443 — 2,443 Cumulative effect of change in accounting principle (3) (15,041 ) — (15,041 ) Net current period other comprehensive income (loss) (122,137 ) — (122,137 ) Ending balance, March 31, 2018 $ 178,040 $ (13,217 ) $ 164,823 ________________ (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $8,108 thousand and $(3,092) thousand , are included in net investment gains (losses) and the related income tax expenses, $1,703 thousand and $(649) thousand , are included in income tax expense in the Consolidated Statements of Operations for the three month periods ended March 31, 2019 and 2018, respectively. (3) The Company adopted guidance on January 1, 2018 that resulted in reclassifying $15,041 thousand

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Unrealized gains and losses on fixed maturities and equity securities	The amortized cost, net unrealized investment gains (losses) and fair values of all fixed maturity securities in the portfolio were as follows: ($ in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 31, 2019 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 793,290 $ 32,299 $ 5,402 $ 820,187 Other, including U.S. Treasury securities 848,659 23,333 6,534 865,458 Municipal bonds 1,915,504 171,412 3,872 2,083,044 Foreign government bonds 83,330 3,084 179 86,235 Corporate bonds 2,041,390 104,303 11,601 2,134,092 Other mortgage-backed securities 1,805,300 16,234 12,546 1,808,988 Totals $ 7,487,473 $ 350,665 $ 40,134 $ 7,798,004 December 31, 2018 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 778,038 $ 22,724 $ 13,321 $ 787,441 Other, including U.S. Treasury securities 835,096 16,127 17,681 833,542 Municipal bonds 1,884,313 133,150 13,494 2,003,969 Foreign government bonds 83,343 2,321 760 84,904 Corporate bonds 2,054,105 64,296 38,891 2,079,510 Other mortgage-backed securities 1,739,016 10,467 23,531 1,725,952 Totals $ 7,373,911 $ 249,085 $ 107,678 $ 7,515,318 ________________ (1) Fair value includes securities issued by Federal National Mortgage Association (FNMA) of $474,541 thousand and $441,308 thousand ; Federal Home Loan Mortgage Corporation (FHLMC) of $421,933 thousand and $417,308 thousand ; and Government National Mortgage Association (GNMA) of $96,844 thousand and $96,466 thousand as of March 31, 2019 and December 31, 2018
Summary of fair value and gross unrealized losses of fixed maturity securities and equity securities in an unrealized loss position	The following table presents the fair value and gross unrealized losses of securities in an unrealized loss position at March 31, 2019 and December 31, 2018 , respectively. The Company views the decrease in fair value of all of the securities with unrealized losses at March 31, 2019 -- which was driven largely by increasing interest rates, spread widening, financial market illiquidity and/or market volatility from the date of acquisition -- as temporary. For fixed maturity securities, management does not have the intent to sell the securities and it is not more likely than not the Company will be required to sell the securities before the anticipated recovery of their amortized cost bases, and management expects to recover the entire amortized cost bases of the fixed maturity securities. Therefore, it was determined that the unrealized losses on the securities presented in the table below were not other than temporarily impaired as of March 31, 2019 . ($ in thousands) 12 Months or Less More than 12 Months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses March 31, 2019 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 4,364 $ 49 $ 218,612 $ 5,353 $ 222,976 $ 5,402 Other 8,230 16 303,498 6,518 311,728 6,534 Municipal bonds 15,003 254 127,688 3,618 142,691 3,872 Foreign government bonds 7,925 59 6,416 120 14,341 179 Corporate bonds 89,954 808 215,797 10,793 305,751 11,601 Other mortgage-backed securities 630,075 8,593 332,167 3,953 962,242 12,546 Total $ 755,551 $ 9,779 $ 1,204,178 $ 30,355 $ 1,959,729 $ 40,134 Number of positions with a gross unrealized loss 234 496 730 Fair value as a percentage of total fixed maturity securities fair value 9.6 % 15.2 % 24.8 % December 31, 2018 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 193,447 $ 5,026 $ 157,295 $ 8,295 $ 350,742 $ 13,321 Other 263,497 6,746 246,213 10,935 509,710 17,681 Municipal bonds 291,869 7,603 95,297 5,891 387,166 13,494 Foreign government bonds 16,250 760 — — 16,250 760 Corporate bonds 818,519 27,429 99,171 11,462 917,690 38,891 Other mortgage-backed securities 913,858 16,076 291,442 7,455 1,205,300 23,531 Total $ 2,497,440 $ 63,640 $ 889,418 $ 44,038 $ 3,386,858 $ 107,678 Number of positions with a gross unrealized loss 1,052 359 1,411 Fair value as a percentage of total fixed maturity securities fair value 32.7 % 11.7 % 44.4 %
Summary of cumulative credit losses	The following table summarizes the cumulative amounts related to the Company’s credit loss component of other-than-temporary impairment (OTTI) losses on fixed maturity securities held as of March 31, 2019 and 2018 that the Company did not intend to sell as of those dates, and it was not more likely than not that the Company would be required to sell the securities before the anticipated recovery of the amortized cost bases, for which the non-credit portions of OTTI losses were recognized in OCI: ($ in thousands) Three Months Ended 2019 2018 Cumulative credit loss (1) Beginning of period $ 1,529 $ 3,825 New credit losses — — Increases to previously recognized credit losses — — Losses related to securities sold or paid down during the period — — End of period $ 1,529 $ 3,825 ________________ (1)
Distribution of the Company's fixed maturity portfolio by estimated expected maturity	The following table presents the distribution of the Company’s fixed maturity securities portfolio by estimated expected maturity. Estimated expected maturities differ from contractual maturities, reflecting assumptions regarding borrowers’ utilization of the right to call or prepay obligations with or without call or prepayment penalties. For structured securities, including mortgage-backed securities and other asset-backed securities, estimated expected maturities consider broker-dealer survey prepayment assumptions and are verified for consistency with the interest rate and economic environments. ($ in thousands) Percent of Total Fair Value March 31, 2019 March 31, 2019 December 31, 2018 Fair Value Amortized Cost Estimated expected maturity: Due in 1 year or less 4.8 % 4.8 % $ 371,816 $ 366,071 Due after 1 year through 5 years 23.8 % 22.8 % 1,854,784 1,813,271 Due after 5 years through 10 years 32.3 % 32.8 % 2,522,113 2,450,544 Due after 10 years through 20 years 26.5 % 26.5 % 2,068,846 1,947,733 Due after 20 years 12.6 % 13.1 % 980,445 909,854 Total 100.0 % 100.0 % $ 7,798,004 $ 7,487,473 Average option-adjusted duration, in years 5.7 5.9
Proceeds received from sales of fixed maturities and equity securities	Proceeds received from sales of fixed maturity and equity securities, each determined using the specific identification method, and gross gains and gross losses realized as a result of those sales for each period were: ($ in thousands) Three Months Ended 2019 2018 Fixed maturity securities Proceeds received $ 59,724 $ 89,894 Gross gains realized 542 1,670 Gross losses realized (105 ) (53 ) Equity securities Proceeds received $ 15,489 $ 2,048 Gross gains realized 4,745 616 Gross losses realized (344 ) (34 )
Net Realized Investment Gains (Losses)	The following table reconciles the net investment gains (losses) pretax by transaction type: ($ in thousands) Three Months Ended 2019 2018 Impairment write-downs $ — $ — Change in intent write-downs (236 ) (110 ) Net OTTI losses recognized in earnings (236 ) (110 ) Sales and other, net 4,838 2,203 Change in fair value - equity securities 3,506 (5,186 ) Change in fair value and gains (losses) realized on settlements - derivative instruments (691 ) 1,439 Net investment gains (losses) $ 7,417 $ (1,654 )
Reconciliation of net unrealized investment gains (losses) on fixed maturity securities and equity securities	The following table reconciles the net unrealized investment gains (losses) on securities, net of tax, included in AOCI, before the impact of DAC: ($ in thousands) Three Months Ended 2019 2018 Net unrealized investment gains (losses) on securities, net of tax Beginning of period $ 111,712 $ 286,176 Change in net unrealized investment gains (losses) on securities 140,012 (67,285 ) Reclassification of net investment (gains) losses on securities to net income (6,405 ) 2,443 Cumulative effect of change in accounting principle (1) — (15,041 ) End of period $ 245,319 $ 206,293 ________________ (1)
Offsetting assets and liability	The following table presents the instruments that were subject to a master netting arrangement for the Company. ($ in thousands) Gross Amounts Offset in the Net Amounts of Assets/ Liabilities Presented in the Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts Consolidated Balance Sheets Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount March 31, 2019 Asset derivatives: Free-standing derivatives $ 7,643 $ — $ 7,643 $ — $ 6,938 $ 705 December 31, 2018 Asset derivatives: Free-standing derivatives $ 2,647 $ — $ 2,647 $ — $ 1,868 $ 779

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Summary of Company's fair value hierarchy measured at recurring basis	The following table presents the Company’s fair value hierarchy for those assets and liabilities measured and carried at fair value on a recurring basis. At March 31, 2019 , Level 3 invested assets comprised 3.3% of the Company’s total investment portfolio at fair value. ($ in thousands) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 March 31, 2019 Financial Assets Investments Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 820,187 $ 820,187 $ — $ 816,743 $ 3,444 Other, including U.S. Treasury securities 865,458 865,458 17,080 848,378 — Municipal bonds 2,083,044 2,083,044 — 2,035,288 47,756 Foreign government bonds 86,235 86,235 — 86,235 — Corporate bonds 2,134,092 2,134,092 13,722 2,037,888 82,482 Other mortgage-backed securities 1,808,988 1,808,988 — 1,676,642 132,346 Total fixed maturity securities 7,798,004 7,798,004 30,802 7,501,174 266,028 Equity securities 105,487 105,487 55,030 — 50,452 — 5 Short-term investments 143,454 143,454 141,793 1,661 — Other investments 23,393 23,393 — 23,393 — Totals $ 8,070,338 $ 8,070,338 $ 227,625 $ 7,576,680 $ 266,033 Separate Account (variable annuity) assets (1) $ 2,224,099 $ 2,224,099 $ 2,224,099 — — Financial Liabilities Investment contract and life policy reserves, embedded derivatives $ 801 $ 801 $ — $ 801 $ — Other policyholder funds, embedded derivatives $ 84,629 $ 84,629 $ — $ — $ 84,629 December 31, 2018 Financial Assets Investments Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 787,441 $ 787,441 $ — $ 784,224 $ 3,217 Other, including U.S. Treasury securities 833,542 833,542 13,291 820,251 — Municipal bonds 2,003,969 2,003,969 — 1,956,438 47,531 Foreign government bonds 84,904 84,904 — 84,904 — Corporate bonds 2,079,510 2,079,510 12,281 1,986,487 80,742 Other mortgage-backed securities 1,725,952 1,725,952 — 1,608,958 116,994 Total fixed maturity securities 7,515,318 7,515,318 25,572 7,241,262 248,484 Equity securities 111,750 111,750 64,330 47,415 5 Short-term investments 122,222 122,222 117,296 4,926 — Other investments 16,147 16,147 — 16,147 — Totals $ 7,765,437 $ 7,765,437 $ 207,198 $ 7,309,750 $ 248,489 Separate Account (variable annuity) assets (1) $ 2,001,128 $ 2,001,128 $ 2,001,128 Financial Liabilities Investment contract and life policy reserves, embedded derivatives $ 248 $ 248 $ — $ 248 $ — Other policyholder funds, embedded derivatives $ 78,700 $ 78,700 $ — $ — $ 78,700 ________________ (1)
Table for reconciliations for all Level 3 assets measured at fair value on a recurring basis	The following table presents reconciliations for the periods indicated for all Level 3 assets and liabilities measured at fair value on a recurring basis. ($ in thousands) Financial Assets Financial Liabilities (1) Municipal Bonds Corporate Bonds Other Mortgage- Backed Securities (2) Total Fixed Maturity Securities Equity Securities Short-term Investments Total Beginning balance, January 1, 2019 $ 47,531 $ 80,742 $ 120,211 $ 248,484 $ 5 $ — $ 248,489 $ 78,700 Transfers into Level 3 (3) — 3,074 21,934 25,008 — — 25,008 — Transfers out of Level 3 (3) — — — — — — — — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — — — — — — — Net realized (gains) losses included in net income related to financial liabilities — — — — — — — 4,334 Net unrealized investment gains (losses) included in OCI 344 2,549 (152 ) 2,741 — — 2,741 — Purchases — — — — — — — — Issuances — — — — — — — 3,018 Sales — — — — — — — — Settlements — — — — — — — — Paydowns, maturities and distributions (119 ) (3,883 ) (6,203 ) (10,205 ) — — (10,205 ) (1,423 ) Ending balance, March 31, 2019 $ 47,756 $ 82,482 $ 135,790 $ 266,028 $ 5 $ — $ 266,033 $ 84,629 Beginning balance, January 1, 2018 $ 49,328 $ 72,979 $ 107,944 $ 230,251 $ 6 $ — $ 230,257 $ 80,733 Transfers into Level 3 (3) — 10,778 14,822 25,600 — — 25,600 — Transfers out of Level 3 (3) — — — — — — — — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — — — 3 — 3 — Net realized (gains) losses included in net income related to financial liabilities — — — — — — — (2,222 ) Net unrealized investment gains (losses) included in OCI 443 (887 ) (1,022 ) (1,466 ) — — (1,466 ) — Purchases — — — — — — — — Issuances — — — — — — — 1,332 Sales — — — — (3 ) — (3 ) — Settlements — — — — — — — — Paydowns, maturities and distributions (23 ) (4,090 ) (6,410 ) (10,523 ) — — (10,523 ) (1,357 ) Ending balance, March 31, 2018 $ 49,748 $ 78,780 $ 115,334 $ 243,862 $ 6 $ — $ 243,868 $ 78,486 ________________ (1) Represents embedded derivatives, all related to the Company's FIA products, reported in Other policyholder funds in the Company’s Consolidated Balance Sheets. (2) Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities. (3) Transfers into and out of Level 3 during the three month periods ended March 31, 2019
Summary of fair value assets and liabilities measured on nonrecurring basis	The Company has various other financial assets and financial liabilities used in the normal course of business that are not carried at fair value, but for which fair value disclosure is required. The following table presents the carrying value, fair value and fair value hierarchy of these financial assets and financial liabilities. ($ in thousands) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 March 31, 2019 Financial Assets Investments Other investments $ 157,006 $ 161,714 $ — $ — $ 161,714 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,585,141 4,509,518 — — 4,509,518 Investment contract and life policy reserves, account values on life contracts 89,048 92,200 — — 92,200 Other policyholder funds 737,184 737,184 — 676,520 60,664 Long-term debt 297,810 306,801 — 306,801 — December 31, 2018 Financial Assets Investments Other investments $ 156,725 $ 161,449 $ — $ — $ 161,449 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,555,849 4,478,338 — — 4,478,338 Investment contract and life policy reserves, 87,229 90,402 — — 90,402 Other policyholder funds 689,287 689,287 — 626,325 62,962 Long-term debt 297,740 291,938 — 291,938 —

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair values of derivative instruments, including derivative instruments embedded in FIA and IUL contracts, are presented in the Consolidated Balance Sheets as follows: ($ in thousands) March 31, 2019 December 31, 2018 Assets Derivative instruments, included in Short-term and other investments $ 7,643 $ 2,647 Liabilities FIA - embedded derivatives, included in Other policyholder funds $ 84,629 $ 78,700 IUL - embedded derivatives, included in Investment contract and life policy reserves 801 248
Derivative Instruments, Gain (Loss)	The changes in fair value of derivatives included in the Consolidated Statements of Operations were as follows: ($ in thousands) Three Months Ended 2019 2018 Change in fair value of derivatives: (1) Revenues Net investment gains (losses) $ 4,054 $ (849 ) Change in fair value of embedded derivatives: Revenues Net investment gains (losses) $ (4,745 ) $ 2,288 ________________ (1)
Financing Receivable Credit Quality Indicators	The notional amount and fair value of call options by counterparty and each counterparty’s long-term credit ratings were as follows: ($ in thousands) March 31, 2019 December 31, 2018 Credit Rating Notional Fair Notional Fair Counterparty S&P Moody's Amount Value Amount Value Bank of America, N.A. A+ Aa2 $ 164,600 $ 3,302 $ 144,500 $ 870 Barclays Bank PLC A A2 32,600 808 28,500 247 Citigroup Inc. BBB+ — — — — Credit Suisse International A A1 16,100 207 16,100 55 Societe Generale A 78,400 3,326 89,100 1,475 Total $ 291,700 $ 7,643 $ 278,200 $ 2,647

Property and Casualty Unpaid _2

Property and Casualty Unpaid Claims and Claim Expenses (Tables)	3 Months Ended
	Mar. 31, 2019
Insurance Loss Reserves [Abstract]
Reconciliation of property and casualty unpaid claims and claim expenses	The end of the period gross reserve (before reinsurance) balances and the reinsurance recoverable balances are reflected on a gross basis in the Consolidated Balance Sheets. ($ in thousands) Three Months Ended 2019 2018 Property and Casualty Beginning gross reserves (1) $ 367,180 $ 319,182 Less: reinsurance recoverables 89,725 57,409 Net reserves, beginning of period (2) 277,455 261,773 Incurred claims and claim expenses: Claims occurring in the current period 118,767 120,988 Decrease in estimated reserves for claims occurring in prior periods (3) (2,000 ) (300 ) Total claims and claim expenses incurred (4) 116,767 120,688 Claims and claim expense payments for claims occurring during: Current period 45,714 47,048 Prior periods 67,135 67,075 Total claims and claim expense payments 112,849 114,123 Net reserves, end of period (2) 281,373 268,338 Plus: reinsurance recoverables 78,328 62,917 Ending gross reserves (1) $ 359,701 $ 331,255 ________________ (1) Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Life and Retirement of $33,848 thousand and $27,062 thousand as of March 31, 2019 and 2018 , respectively, in addition to Property and Casualty reserves. (2) Reserves net of anticipated reinsurance recoverables. (3) Shows the amounts by which the Company decreased its reserves in each of the periods indicated for claims occurring in previous periods to reflect subsequent information on such claims and changes in their projected final settlement costs. (4) Benefits, claims and settlement expenses as reported in the Consolidated Statements of Operations also include amounts for Life and Retirement of $22,617 thousand and $22,874 thousand for the three month periods ended March 31, 2019 and 2018 , respectively, in addition to Property and Casualty amounts.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Summary of Indebtedness outstanding	Indebtedness outstanding was as follows: ($ in thousands) March 31, 2019 December 31, 2018 Short-term debt: Bank Credit Facility, expires June 27, 2023 $ — $ — Long-term debt: 4.50% Senior Notes, due December 1, 2025. Aggregate principal amount of $250,000 thousand less unaccrued discount of $473 and $488 thousand (4.5% imputed rate) and unamortized debt issuance costs of $1,717 thousand and $1,772 thousand 247,810 247,740 Federal Home Loan Bank borrowing 50,000 50,000 Total $ 297,810 $ 297,740

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Effects of reinsurance on premiums and benefits	The effects of reinsurance on premiums written and contract deposits; premiums and contract charges earned; and benefits, claims and settlement expenses were as follows: ($ in thousands) Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Three months ended March 31, 2019 Premiums written and contract deposits (1) $ 299,093 $ 5,848 $ 2,149 $ 295,394 Premiums and contract charges earned 213,256 5,822 2,351 209,785 Benefits, claims and settlement expenses 142,052 4,292 1,624 139,384 Three months ended March 31, 2018 Premiums written and contract deposits (1) $ 288,816 $ 5,514 $ 706 $ 284,008 Premiums and contract charges earned 207,737 5,528 789 202,998 Benefits, claims and settlement expenses 151,968 9,014 608 143,562 ________________ (1)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Summarized financial information for these segments	Summarized financial information for these segments is as follows: ($ in thousands) Three Months Ended 2019 2018 Insurance premiums and contract charges earned Property and Casualty $ 170,840 $ 165,458 Retirement 8,578 8,068 Life 30,367 29,472 Total $ 209,785 $ 202,998 Net investment income Property and Casualty $ 10,218 $ 9,516 Retirement 64,739 64,169 Life 18,052 18,340 Corporate and Other (23 ) 36 Intersegment eliminations (186 ) (197 ) Total $ 92,800 $ 91,864 Net income (loss) Property and Casualty $ 15,052 $ 9,722 Retirement 12,151 11,421 Life 3,277 3,787 Corporate and Other 1,686 (4,775 ) Total $ 32,166 $ 20,155 ($ in thousands) March 31, 2019 December 31, 2018 Assets Property and Casualty $ 1,238,041 $ 1,236,362 Retirement 8,307,656 7,866,969 Life 1,883,554 1,821,351 Corporate and Other 163,157 149,014 Intersegment eliminations (31,328 ) (41,800 ) Total $ 11,561,080 $ 11,031,896

Operating Leases (Tables)

Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lease, Cost	The components of lease cost were as follows: ($ in thousands) Three Months Ended Operating lease cost $ 809 Short-term lease cost 24 Total lease cost $ 833
Schedule of Cash Flow, Supplemental Disclosures	Other information related to operating leases were as follows: ($ in thousands, except lease term and discount rate) Three Months Ended Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities $ 766 Weighted Average Remaining Lease Term 5.22 Weighted Average Discount Rate 4.11 %
Lessee, Operating Lease, Liability, Maturity	Future minimum lease payments under non-cancellable operating leases as of March 31, 2019 were as follows: ($ in thousands) Year Ending December 31, 2019 (excluding the three months ended March 31, 2019) $ 2,023 2020 3,108 2021 3,028 2022 2,943 2023 2,246 Thereafter 2,111 Total future minimum lease payments 15,459 Less imputed interest (1,596 ) Total $ 13,863
Lessee, Operating Lease, Disclosure	The carrying amounts of operating lease liabilities, including corresponding right of use assets, are presented on the Consolidated Balance Sheet as follows: ($ in thousands) March 31, 2019 Assets Right of use assets, included in Other assets $ 13,229 Liabilities Operating lease liabilities, included in Other liabilities $ 13,863

Basis of Presentation - Investm

Basis of Presentation - Investment Contract and Life Policy Reserves (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment contract reserves	$ 4,585,141	$ 4,555,856
Life policy reserves	1,162,999	1,155,337
Total	$ 5,748,140	$ 5,711,193

Basis of Presentation - Accumul

Basis of Presentation - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,290,550
Other comprehensive income (loss) before reclassifications	120,303	$ (109,539)
Amounts reclassified from AOCI	(6,405)	2,443
Cumulative effect of change in accounting principle	0	(15,041)
Net current period other comprehensive income (loss)	113,898	(122,137)
Ending balance	1,423,714	1,404,679
Other income tax expense (benefit)	1,703	(649)
Reclassification of unrealized gains on equity securities, net of tax	0	15,041
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	84,756	286,960
Cumulative effect of change in accounting principle	0	(15,041)
Ending balance	198,654	164,823
Net Unrealized Investment Gains (Losses) on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	96,941	300,177
Other comprehensive income (loss) before reclassifications	120,303	(109,539)
Amounts reclassified from AOCI	(6,405)	2,443
Cumulative effect of change in accounting principle		(15,041)
Net current period other comprehensive income (loss)	113,898	(122,137)
Ending balance	210,839	178,040
Pretax reclassification amounts from accumulated other comprehensive income (loss)	8,108	(3,092)
Net Funded Status of Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(12,185)	(13,217)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from AOCI	0	0
Cumulative effect of change in accounting principle		0
Net current period other comprehensive income (loss)	0	0
Ending balance	$ (12,185)	$ (13,217)

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Right of use assets, included in Other assets	$ 13,229	$ 14,499
Operating lease liabilities, included in Other liabilities	$ 13,863	$ 13,908

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Jan. 02, 2019	Dec. 10, 2018	Mar. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill			$ 57,483	$ 47,396
Benefit Consultants Group Inc.
Business Acquisition [Line Items]
Transaction value	$ 25,000
Finite-lived intangible assets acquired	16,200
Goodwill	$ 10,100
NTA Life Enterprises
Business Acquisition [Line Items]
Transaction value		$ 405,000
Minimum | Benefit Consultants Group Inc.
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, useful lives			10 years
Maximum | Benefit Consultants Group Inc.
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, useful lives			16 years

Investments - Summary of Fair V

Investments - Summary of Fair Value and Amortized Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost	$ 7,487,473	$ 7,373,911
Fair Value	7,798,004	7,515,318
Federal National Mortgage Association Certificates and Obligations (FNMA)
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	474,541	441,308
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC)
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	421,933	417,308
Government National Mortgage Association Certificates and Obligations (GNMA)
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	96,844	96,466
Total Fixed Maturity Securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost	7,487,473	7,373,911
Unrealized Gains	350,665	249,085
Unrealized Losses	40,134	107,678
Fair Value	7,798,004	7,515,318
Mortgage-backed securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost	793,290	778,038
Unrealized Gains	32,299	22,724
Unrealized Losses	5,402	13,321
Fair Value	820,187	787,441
Other, including U.S. Treasury securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost	848,659	835,096
Unrealized Gains	23,333	16,127
Unrealized Losses	6,534	17,681
Fair Value	865,458	833,542
Municipal bonds
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost	1,915,504	1,884,313
Unrealized Gains	171,412	133,150
Unrealized Losses	3,872	13,494
Fair Value	2,083,044	2,003,969
Foreign government bonds
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost	83,330	83,343
Unrealized Gains	3,084	2,321
Unrealized Losses	179	760
Fair Value	86,235	84,904
Corporate bonds
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost	2,041,390	2,054,105
Unrealized Gains	104,303	64,296
Unrealized Losses	11,601	38,891
Fair Value	2,134,092	2,079,510
Other mortgage-backed securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost	1,805,300	1,739,016
Unrealized Gains	16,234	10,467
Unrealized Losses	12,546	23,531
Fair Value	$ 1,808,988	$ 1,725,952

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses (Details) $ in Thousands	Mar. 31, 2019USD ($)security	Dec. 31, 2018USD ($)security
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	$ 755,551
Fixed maturity securities, Fair Value, More than 12 Months	1,204,178
Fixed maturity securities, Fair Value, Total	1,959,729
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	9,779
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	30,355
Fixed maturity securities, Gross Unrealized Losses, Total	$ 40,134
Number of positions with a gross unrealized loss, 12 Months or Less | security	234	1,052
Number of position with a gross unrealized loss, more than 12 months | security	496	359
Number of position with a gross unrealized loss, Total | security	730	1,411
Fair value as a percentage of total fixed maturities and equity securities fair value, 12 Months or Less	9.60%	32.70%
Fair value as a percentage of total fixed maturities and equity securities fair value, more than 12 months	15.20%	11.70%
Fair value as a percentage of total fixed maturities and equity securities fair value, Total	24.80%	44.40%
Mortgage-backed securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	$ 4,364	$ 193,447
Fixed maturity securities, Fair Value, More than 12 Months	218,612	157,295
Fixed maturity securities, Fair Value, Total	222,976	350,742
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	49	5,026
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	5,353	8,295
Fixed maturity securities, Gross Unrealized Losses, Total	5,402	13,321
Other
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	8,230	263,497
Fixed maturity securities, Fair Value, More than 12 Months	303,498	246,213
Fixed maturity securities, Fair Value, Total	311,728	509,710
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	16	6,746
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	6,518	10,935
Fixed maturity securities, Gross Unrealized Losses, Total	6,534	17,681
Municipal bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	15,003	291,869
Fixed maturity securities, Fair Value, More than 12 Months	127,688	95,297
Fixed maturity securities, Fair Value, Total	142,691	387,166
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	254	7,603
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	3,618	5,891
Fixed maturity securities, Gross Unrealized Losses, Total	3,872	13,494
Foreign government bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	7,925	16,250
Fixed maturity securities, Fair Value, More than 12 Months	6,416	0
Fixed maturity securities, Fair Value, Total	14,341	16,250
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	59	760
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	120	0
Fixed maturity securities, Gross Unrealized Losses, Total	179	760
Corporate bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	89,954	818,519
Fixed maturity securities, Fair Value, More than 12 Months	215,797	99,171
Fixed maturity securities, Fair Value, Total	305,751	917,690
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	808	27,429
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	10,793	11,462
Fixed maturity securities, Gross Unrealized Losses, Total	11,601	38,891
Other mortgage-backed securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	630,075	913,858
Fixed maturity securities, Fair Value, More than 12 Months	332,167	291,442
Fixed maturity securities, Fair Value, Total	962,242	1,205,300
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	8,593	16,076
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	3,953	7,455
Fixed maturity securities, Gross Unrealized Losses, Total	$ 12,546	23,531
Total Fixed Maturity Securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		2,497,440
Fixed maturity securities, Fair Value, More than 12 Months		889,418
Fixed maturity securities, Fair Value, Total		3,386,858
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		63,640
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		44,038
Fixed maturity securities, Gross Unrealized Losses, Total		$ 107,678

Investments - Rollforward of OT

Investments - Rollforward of OTTI Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cumulative credit loss
Beginning of period	$ 1,529	$ 3,825
New credit losses	0	0
Increases to previously recognized credit losses	0	0
Losses related to securities sold or paid down during the period	0	0
End of period	$ 1,529	$ 3,825

Investments - Distribution of F

Investments - Distribution of Fixed Maturity Securities by Expected Maturity (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Percent of Total Fair Value
Due in 1 year or less, Percent of Total Fair Value	4.80%	4.80%
Due after 1 year through 5 years, Percent of Total Fair Value	23.80%	22.80%
Due after 5 years through 10 years, Percent of Total Fair Value	32.30%	32.80%
Due after 10 years through 20 years, Percent of Total Fair Value	26.50%	26.50%
Due after 20 years, Percent of Total Fair Value	12.60%	13.10%
Total, Percent of Total Fair Value	100.00%	100.00%
Fair Value
Due in 1 year or less, Fair Value	$ 371,816
Due after 1 year through 5 years, Fair Value	1,854,784
Due after 5 years through 10 years, Fair Value	2,522,113
Due after 10 years through 20 years, Fair Value	2,068,846
Due after 20 years, Fair Value	980,445
Fair Value	7,798,004	$ 7,515,318
Amortized Cost
Due in 1 year or less, Amortized Cost	366,071
Due after 1 year through 5 years, Amortized Cost	1,813,271
Due after 5 years through 10 years, Amortized Cost	2,450,544
Due after 10 years through 20 years, Amortized Cost	1,947,733
Due after 20 years, Amortized Cost	909,854
Total, Amortized Cost	$ 7,487,473	$ 7,373,911
Average option-adjusted duration, in years	5 years 8 months 12 days	5 years 10 months 24 days

Investments - Summary of Procee

Investments - Summary of Proceeds and Gains (Losses) Realized on Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Proceeds received, Fixed maturity securities	$ 59,724	$ 89,894
Proceeds received, Equity securities	15,489	2,048
Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
Gross gains realized	542	1,670
Gross losses realized	(105)	(53)
Equity securities
Debt Securities, Available-for-sale [Line Items]
Gross gains realized	4,745	616
Gross losses realized	$ (344)	$ (34)

Investments - Reconciliation of

Investments - Reconciliation of Net Unrealized Investment Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,290,550
Change in net unrealized investment gains (losses) on securities	113,898	$ (107,096)
Cumulative effect of change in accounting principle	0	(15,041)
Ending balance	1,423,714	1,404,679
Net Unrealized Investment Gains (Losses) on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	96,941	300,177
Cumulative effect of change in accounting principle		(15,041)
Ending balance	210,839	178,040
Net Unrealized Investment Gains (Losses) on Securities | Fixed maturity securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	111,712	286,176
Change in net unrealized investment gains (losses) on securities	140,012	(67,285)
Reclassification of net investment (gains) losses on securities to net income	(6,405)	2,443
Ending balance	$ 245,319	$ 206,293

Investments - Offsetting of Ass

Investments - Offsetting of Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Asset derivatives:
Net Amounts of Assets/Liabilities Presented in the Consolidated Balance Sheets	$ 7,643	$ 2,647
Free-standing derivatives
Asset derivatives:
Gross Amounts	7,643	2,647
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Assets/Liabilities Presented in the Consolidated Balance Sheets	7,643	2,647
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments	0	0
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	6,938	1,868
Net Amount	$ 705	$ 779

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment Holdings [Line Items]
Limited partnership interests	$ 330,434	$ 328,516
Investment Grade Rate	93.30%
Fair value of issued securities	$ 7,798,004	7,515,318
FHLB funding agreements	725,000	675,000
Federal Home Loans Bank Of Chicago
Investment Holdings [Line Items]
Fair value of issued securities	800,016	740,016
Governmental Agencies as Required by Law in Various States
Investment Holdings [Line Items]
Fair value of issued securities	$ 17,824	$ 17,695

Investments - Net Realized Gain

Investments - Net Realized Gain (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Impairment write-downs	$ 0	$ 0
Change in intent write-downs	(236)	(110)
Net OTTI losses recognized in earnings	(236)	(110)
Sales and other, net	4,838	2,203
Change in fair value - equity securities	3,506	(5,186)
Change in fair value and gains (losses) realized on settlements - derivative instruments	(691)	1,439
Net investment gains (losses)	$ 7,417	$ (1,654)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Financial Instruments Measured and Carried at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	$ 7,798,004	$ 7,515,318
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	820,187	787,441
Other, including U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	865,458	833,542
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	2,083,044	2,003,969
Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	86,235	84,904
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	2,134,092	2,079,510
Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	1,808,988	1,725,952
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	8,070,338	7,765,437
Separate Account (variable annuity) assets	2,224,099	2,001,128
Investment contract and life policy reserves, embedded derivatives	801	248
Other policyholder funds, embedded derivatives	84,629	78,700
Carrying Amount | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	7,798,004	7,515,318
Carrying Amount | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	143,454	122,222
Carrying Amount | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	820,187	787,441
Carrying Amount | Other, including U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	865,458	833,542
Carrying Amount | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	2,083,044	2,003,969
Carrying Amount | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	86,235	84,904
Carrying Amount | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	2,134,092	2,079,510
Carrying Amount | Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	1,808,988	1,725,952
Carrying Amount | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	105,487	111,750
Carrying Amount | Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	23,393	16,147
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	8,070,338	7,765,437
Separate Account (variable annuity) assets	2,224,099	2,001,128
Investment contract and life policy reserves, embedded derivatives	801	248
Other policyholder funds, embedded derivatives	84,629	78,700
Fair Value | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	7,798,004	7,515,318
Fair Value | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	143,454	122,222
Fair Value | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	820,187	787,441
Fair Value | Other, including U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	865,458	833,542
Fair Value | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	2,083,044	2,003,969
Fair Value | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	86,235	84,904
Fair Value | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	2,134,092	2,079,510
Fair Value | Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	1,808,988	1,725,952
Fair Value | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	105,487	111,750
Fair Value | Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	23,393	16,147
Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	227,625	207,198
Separate Account (variable annuity) assets	2,224,099	2,001,128
Investment contract and life policy reserves, embedded derivatives	0	0
Other policyholder funds, embedded derivatives	0	0
Fair Value | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	30,802	25,572
Fair Value | Level 1 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	141,793	117,296
Fair Value | Level 1 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	0	0
Fair Value | Level 1 | Other, including U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	17,080	13,291
Fair Value | Level 1 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	0	0
Fair Value | Level 1 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	0	0
Fair Value | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	13,722	12,281
Fair Value | Level 1 | Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	0	0
Fair Value | Level 1 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	55,030	64,330
Fair Value | Level 1 | Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	0	0
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	7,576,680	7,309,750
Investment contract and life policy reserves, embedded derivatives	801	248
Other policyholder funds, embedded derivatives	0	0
Fair Value | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	7,501,174	7,241,262
Fair Value | Level 2 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	1,661	4,926
Fair Value | Level 2 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	816,743	784,224
Fair Value | Level 2 | Other, including U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	848,378	820,251
Fair Value | Level 2 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	2,035,288	1,956,438
Fair Value | Level 2 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	86,235	84,904
Fair Value | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	2,037,888	1,986,487
Fair Value | Level 2 | Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	1,676,642	1,608,958
Fair Value | Level 2 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	50,452	47,415
Fair Value | Level 2 | Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	23,393	16,147
Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	266,033	248,489
Investment contract and life policy reserves, embedded derivatives	0	0
Other policyholder funds, embedded derivatives	84,629	78,700
Fair Value | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	266,028	248,484
Fair Value | Level 3 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	0	0
Fair Value | Level 3 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	3,444	3,217
Fair Value | Level 3 | Other, including U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	0	0
Fair Value | Level 3 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	47,756	47,531
Fair Value | Level 3 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	0	0
Fair Value | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	82,482	80,742
Fair Value | Level 3 | Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	132,346	116,994
Fair Value | Level 3 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	5	5
Fair Value | Level 3 | Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of issued securities	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Rollforward of Instruments Measured on Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Financial Assets
Beginning balance	$ 248,489	$ 230,257
Transfers into Level 3	25,008	25,600
Transfers out of Level 3	0	0
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	3
Net unrealized investment gains (losses) included in other comprehensive income	2,741	(1,466)
Purchases	0	0
Issuances	0	0
Sales	0	(3)
Settlements	0	0
Paydowns, maturities and distributions	(10,205)	(10,523)
Ending balance	266,033	243,868
Financial Liabilities
Beginning balance	78,700	80,733
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains or losses
Net realized gains (losses) included in net income related to financial liabilities	4,334	(2,222)
Net unrealized investment gains (losses) included in other comprehensive income	0	0
Purchases	0	0
Issuances	3,018	1,332
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(1,423)	(1,357)
Ending balance	84,629	78,486
Short-term Investments
Financial Assets
Beginning balance	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in other comprehensive income	0	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	0	0
Ending balance	0	0
Total Fixed Maturity Securities
Financial Assets
Beginning balance	248,484	230,251
Transfers into Level 3	25,008	25,600
Transfers out of Level 3	0	0
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in other comprehensive income	2,741	(1,466)
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(10,205)	(10,523)
Ending balance	266,028	243,862
Municipal bonds
Financial Assets
Beginning balance	47,531	49,328
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in other comprehensive income	344	443
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(119)	(23)
Ending balance	47,756	49,748
Corporate bonds
Financial Assets
Beginning balance	80,742	72,979
Transfers into Level 3	3,074	10,778
Transfers out of Level 3	0	0
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in other comprehensive income	2,549	(887)
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(3,883)	(4,090)
Ending balance	82,482	78,780
Mortgage-Backed Securities
Financial Assets
Beginning balance	120,211	107,944
Transfers into Level 3	21,934	14,822
Transfers out of Level 3	0	0
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in other comprehensive income	(152)	(1,022)
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(6,203)	(6,410)
Ending balance	135,790	115,334
Equity securities
Financial Assets
Beginning balance	5	6
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	3
Net unrealized investment gains (losses) included in other comprehensive income	0	0
Purchases	0	0
Issuances	0	0
Sales	0	(3)
Settlements	0	0
Paydowns, maturities and distributions	0	0
Ending balance	$ 5	$ 6

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Financial Instrument Not Carried at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Level 1
Investments
Other investments	$ 0	$ 0
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	0	0
Investment contract and life policy reserves, account values on life contracts	0	0
Other policyholder funds	0	0
Long-term debt	0	0
Level 2
Investments
Other investments	0	0
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	0	0
Investment contract and life policy reserves, account values on life contracts	0	0
Other policyholder funds	676,520	626,325
Long-term debt	306,801	291,938
Level 3
Investments
Other investments	161,714	161,449
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	4,509,518	4,478,338
Investment contract and life policy reserves, account values on life contracts	92,200	90,402
Other policyholder funds	60,664	62,962
Long-term debt	0	0
Carrying Amount
Investments
Other investments	157,006	156,725
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	4,585,141	4,555,849
Investment contract and life policy reserves, account values on life contracts	89,048	87,229
Other policyholder funds	737,184	689,287
Long-term debt	297,810	297,740
Fair Value
Investments
Other investments	161,714	161,449
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	4,509,518	4,478,338
Investment contract and life policy reserves, account values on life contracts	92,200	90,402
Other policyholder funds	737,184	689,287
Long-term debt	$ 306,801	$ 291,938

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value of Financial Instruments (Textual) [Abstract]
Net realized investment gains included in net income related to financial assets	$ 0	$ 3
Level 3
Fair Value of Financial Instruments (Textual) [Abstract]
Percentage of invested assets in total investment portfolio Level 3 recurring	3.30%
Net realized investment losses	$ (4,334)	$ (2,222)

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivatives in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets
Derivative instruments, included in Short-term and other investments	$ 7,643	$ 2,647
Short-term and other investments
Assets
Derivative instruments, included in Short-term and other investments	7,643	2,647
Other policyholder funds
Liabilities
FIA - embedded derivatives, included in Other policyholder funds	84,629	78,700
Investment contract and life policy reserves
Liabilities
IUL - embedded derivatives, included in Investment contract and life policy reserves	$ 801	$ 248

Derivative Instruments - Fair_2

Derivative Instruments - Fair Value of Derivatives Included in Consolidated Statements of Operations (Details) - Revenues - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Change in fair value of derivatives:
Net investment gains (losses)	$ 4,054	$ (849)
Change in fair value of embedded derivatives:
Net investment gains (losses)	$ (4,745)	$ 2,288

Derivative Instruments - Notion

Derivative Instruments - Notional and Fair Value Amounts of Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional Amount	$ 291,700	$ 278,200
Fair Value	7,643	2,647
Bank of America, N.A.
Derivative [Line Items]
Notional Amount	164,600	144,500
Fair Value	3,302	870
Barclays Bank PLC
Derivative [Line Items]
Notional Amount	32,600	28,500
Fair Value	808	247
Citigroup Inc.
Derivative [Line Items]
Notional Amount	0	0
Fair Value	0	0
Credit Suisse International
Derivative [Line Items]
Notional Amount	16,100	16,100
Fair Value	207	55
Societe Generale
Derivative [Line Items]
Notional Amount	78,400	89,100
Fair Value	$ 3,326	$ 1,475

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Expected contract term	10 years
Maximum exposure	$ 250,000
Other liabilities
Derivatives, Fair Value [Line Items]
Fair value of collateral	$ 6,938,000	$ 1,868,000

Property and Casualty Unpaid _3

Property and Casualty Unpaid Claims and Claim Expenses - Summary of Reinsurance Reserve Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Beginning Gross reserves	$ 396,714
Claims and claim expense payments for claims occurring during:
Ending Gross reserves	393,549
Benefits, claims and settlement expenses	139,384	$ 143,562
Property and Casualty
Segment Reporting Information [Line Items]
Beginning Gross reserves	367,180	319,182
Less: reinsurance recoverables	89,725	57,409
Net reserves, beginning of year	277,455	261,773
Incurred claims and claim expenses:
Claims occurring in the current period	118,767	120,988
Decrease in estimated reserves for claims occurring in prior years	(2,000)	(300)
Total claims and claim expenses incurred	116,767	120,688
Claims and claim expense payments for claims occurring during:
Current period	45,714	47,048
Prior periods	67,135	67,075
Total claims and claim expense payments	112,849	114,123
Net reserves, end of year	281,373	268,338
Plus: reinsurance recoverables	78,328	62,917
Ending Gross reserves	359,701	331,255
Life and Annuity segments
Claims and claim expense payments for claims occurring during:
Net reserves, end of year	33,848	27,062
Benefits, claims and settlement expenses	$ 22,617	$ 22,874

Property and Casualty Unpaid _4

Property and Casualty Unpaid Claims and Claim Expenses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Insurance Loss Reserves [Abstract]
Favorable development of total reserves for property and casualty claims occurring in prior years	$ 2	$ 0.3

Debt - Summary of Indebtedness

Debt - Summary of Indebtedness (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Short-term debt:
Bank Credit Facility, expires June 27, 2023	$ 0	$ 0
Long-term debt:
Long-term debt	297,810,000	297,740,000
Debt and Capital Lease Obligations	297,810,000	297,740,000
Senior Notes 4.50% [Member]
Long-term debt:
Long-term debt	247,810,000	247,740,000
Unamortized discount	$ 473,000	488,000
Stated rate	4.50%
Face amount	$ 250,000,000
Unamortized debt issuance costs	1,717,000	1,772,000
Federal Home Loan Bank Advances [Member]
Long-term debt:
Long-term debt	$ 50,000,000	$ 50,000,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Jun. 27, 2018
Senior Notes 4.50% [Member]
Debt Instrument [Line Items]
Stated rate	4.50%
Line of Credit [Member]
Debt Instrument [Line Items]
Borrowing capacity		$ 150,000,000
Commitment fee percent	0.15%

Reinsurance - Summary of Reinsu

Reinsurance - Summary of Reinsurance Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Gross Amount
Premiums written and contract deposits, Gross Amount	$ 299,093	$ 288,816
Premiums and contract charges earned, Gross Amount	213,256	207,737
Benefits, claims and settlement expenses, Gross Amount	142,052	151,968
Ceded to Other Companies
Premiums written and contract deposits, Ceded to Other Companies	5,848	5,514
Premiums and contract charges earned, Ceded to Other Companies	5,822	5,528
Benefits, claims and settlement expenses, Ceded to Other Companies	4,292	9,014
Assumed from Other Companies
Premiums written and contract deposits, Assumed from Other Companies	2,149	706
Premiums and contract charges earned, Assumed from Other Companies	2,351	789
Benefits, claims and settlement expenses, Assumed from Other Companies	1,624	608
Net Amount
Premiums written and contract deposits, Net Amount	295,394	284,008
Premiums and contract charges earned, Net Amount	209,785	202,998
Benefits, claims and settlement expenses, Net Amount	$ 139,384	$ 143,562

Commitments - Narrative (Detail

Commitments - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Unfunded commitments to purchase investments	$ 135.7	$ 145.4

Segment Information - Summary o

Segment Information - Summary of Segment Activity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	4
Number of operating segments | segment	3
Summarized financial information for these segments
Insurance premiums and contract charges earned	$ 209,785	$ 202,998
Net investment income	92,800	91,864
Net income (loss)	32,166	20,155
Assets	11,561,080		$ 11,031,896
Intersegment eliminations
Summarized financial information for these segments
Net investment income	(186)	(197)
Assets	(31,328)		(41,800)
Property and Casualty
Summarized financial information for these segments
Insurance premiums and contract charges earned	170,840	165,458
Property and Casualty | Operating segments
Summarized financial information for these segments
Net investment income	10,218	9,516
Net income (loss)	15,052	9,722
Assets	1,238,041		1,236,362
Retirement
Summarized financial information for these segments
Insurance premiums and contract charges earned	8,578	8,068
Retirement | Operating segments
Summarized financial information for these segments
Net investment income	64,739	64,169
Net income (loss)	12,151	11,421
Assets	8,307,656		7,866,969
Life
Summarized financial information for these segments
Insurance premiums and contract charges earned	30,367	29,472
Life | Operating segments
Summarized financial information for these segments
Net investment income	18,052	18,340
Net income (loss)	3,277	3,787
Assets	1,883,554		1,821,351
Corporate and Other
Summarized financial information for these segments
Net investment income	(23)	36
Net income (loss)	1,686	$ (4,775)
Assets	$ 163,157		$ 149,014

Operating Leases - Components o

Operating Leases - Components of Lease Cost (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 809
Short-term lease cost	24
Total lease cost	$ 833

Operating Leases - Narrative (D

Operating Leases - Narrative (Details)	Mar. 31, 2019
Leases [Abstract]
Renewal term	10 years
Lessee, Lease, Description [Line Items]
Weighted Average Remaining Lease Term	5 years 2 months 19 days
Minimum
Lessee, Lease, Description [Line Items]
Weighted Average Remaining Lease Term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Weighted Average Remaining Lease Term	6 years

Operating Leases - Other Operat

Operating Leases - Other Operating Lease Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 766
Weighted Average Remaining Lease Term	5 years 2 months 19 days
Weighted Average Discount Rate	4.11%

Operating Leases - Future Minim

Operating Leases - Future Minimum Operating Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Leases [Abstract]
2019 (excluding the three months ended March 31, 2019)	$ 2,023
2020	3,108
2021	3,028
2022	2,943
2023	2,246
Thereafter	2,111
Total future minimum lease payments	15,459
Less imputed interest	(1,596)
Total	$ 13,863	$ 13,908

Operating Leases - Balance Shee

Operating Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Right of use assets, included in Other assets	$ 13,229	$ 14,499
Operating lease liabilities, included in Other liabilities	$ 13,863	$ 13,908