Horace Mann Educators (HMN) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-10890
Entity Registrant Name	HORACE MANN EDUCATORS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-0911756
Entity Address, Address Line One	1 Horace Mann Plaza
Entity Address, City or Town	Springfield
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	62715-0001
City Area Code	217
Local Phone Number	789-2500
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	HMN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		41,483,522
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000850141
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Investments
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2021, $5,992.7; 2020, $5,788.6)	$ 6,356.3	$ 6,345.3
Equity securities at fair value	140	121.6
Limited partnership interests	505.2	449
Short-term and other investments	311.6	346.3
Total investments	7,313.1	7,262.2
Cash	39.4	22.3
Deferred policy acquisition costs	262.5	229.8
Deposit asset on reinsurance	2,442.2	2,420.9
Intangible assets	155.2	158.5
Goodwill	43.5	43.5
Other assets	436.7	443.2
Separate Account (variable annuity) assets	3,052.9	2,891.4
Total assets	13,745.5	13,471.8
Policy liabilities
Investment contract and policy reserves	6,480	6,445.3
Unpaid claims and claim expenses	452.5	438.8
Unearned premiums	250.3	264.5
Total policy liabilities	7,182.8	7,148.6
Other policyholder funds	885.1	751.3
Other liabilities	494.4	453.1
Short-term debt	135	135
Long-term debt	302.4	302.3
Separate Account (variable annuity) liabilities	3,052.9	2,891.4
Total liabilities	12,052.6	11,681.7
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, 2021, 66,408,710; 2020, 66,316,797	0.1	0.1
Additional paid-in capital	489.2	488.4
Retained earnings	1,460.8	1,434.6
Accumulated other comprehensive income (loss), net of tax:
Net unrealized investment gains on fixed maturity securities	243.6	366.3
Net funded status of benefit plans	(11.2)	(11.2)
Treasury stock, at cost, 2021, 24,942,064 shares; 2020, 24,902,579 shares	(489.6)	(488.1)
Total shareholders’ equity	1,692.9	1,790.1
Total liabilities and shareholders’ equity	$ 13,745.5	$ 13,471.8

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Fixed maturities, available for sale, amortized cost	$ 5,992.7	$ 5,788.6
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	66,408,710	66,316,797
Treasury stock (in shares)	24,942,064	24,902,579

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues
Premiums and contract charges earned	$ 227.6	$ 236.3
Net investment income	95.5	82.3
Net investment losses	(9)	(18.5)
Other income	7.9	7.2
Total revenues	322	307.3
Benefits, losses and expenses
Benefits, claims and settlement expenses	134.3	138.7
Interest credited	50.6	51.5
Operating expenses	58	60.7
DAC unlocking and amortization expense	24.1	30
Intangible asset amortization expense	3.3	3.7
Interest expense	3.5	4.2
Total benefits, losses and expenses	273.8	288.8
Income before income taxes	48.2	18.5
Income tax expense	8.9	0
Net income	$ 39.3	$ 18.5
Net income per share
Basic (in usd per share)	$ 0.94	$ 0.44
Diluted (in usd per share)	$ 0.93	$ 0.44
Weighted average number of shares and equivalent shares
Basic (in shares)	41.9	41.8
Diluted (in shares)	42.1	42
Net income	$ 39.3	$ 18.5
Other comprehensive income (loss), net of tax:
Change in net unrealized investment gains (losses) on fixed maturity securities	(122.7)	(93.8)
Change in net funded status of benefit plans	0	0
Other comprehensive income (loss)	(122.7)	(93.8)
Comprehensive income (loss)	$ (83.4)	$ (75.3)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss), net of tax	Treasury stock, at cost	Cumulative Effect, Period of Adoption, AdjustmentRetained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, par value (in usd per share)	$ 0.001
Beginning balance at Dec. 31, 2019		$ 0.1	$ 481	$ 1,352.5	$ 219.7	$ (486)	$ (0.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised and conversion of common stock units and restricted stock units			(0.2)
Share-based compensation expense			1.1
Net income	$ 18.5			18.5
Dividends, 2021, $0.31 per share; 2020, $0.30 per share				(12.7)
Change in net unrealized investment gains (losses) on fixed maturity securities					(93.8)
Acquisition of shares	(2.1)
Ending balance at Mar. 31, 2020	$ 1,477.6	0.1	481.9	1,357.8	125.9	(488.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, par value (in usd per share)	$ 0.001
Common stock, par value (in usd per share)	$ 0.001
Beginning balance at Dec. 31, 2020	$ 1,790.1	0.1	488.4	1,434.6	355.1	(488.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised and conversion of common stock units and restricted stock units			(1.2)
Share-based compensation expense			2
Net income	39.3			39.3
Dividends, 2021, $0.31 per share; 2020, $0.30 per share				(13.1)
Change in net unrealized investment gains (losses) on fixed maturity securities					(122.7)
Acquisition of shares	(1.5)
Ending balance at Mar. 31, 2021	$ 1,692.9	$ 0.1	$ 489.2	$ 1,460.8	$ 232.4	$ (489.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, par value (in usd per share)	$ 0.001

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Cash dividends (in usd per share)	$ 0.31	$ 0.30

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows - operating activities
Net income	$ 39.3	$ 18.5
Adjustments to reconcile net income to net cash provided by operating activities
Net investment losses	9	18.5
Amortization of premiums and accretion of discounts on fixed maturity securities, net	0.2	0.9
Depreciation and intangible asset amortization	5.5	5.3
Share-based compensation expense	2.2	1.2
Changes in:
Accrued investment income	(5)	(9.5)
Insurance liabilities	78	65.7
Premium receivables	3.8	2.2
Deferred policy acquisitions	2.5	(4.4)
Reinsurance recoverables	(1.2)	0.3
Income tax liabilities	8.9	1.1
Other operating assets and liabilities	2.7	(15.8)
Other	(3.9)	3.4
Net cash provided by operating activities	142	87.4
Fixed maturity securities
Purchases	(478.4)	(535.3)
Sales	95.5	98.2
Maturities, paydowns, calls and redemptions	176.3	237.9
Equity securities
Purchases	(28.4)	(4.1)
Sales and repayments	0.4	1.5
Limited partnership interests
Purchases	(58.6)	(14.1)
Sales	13.7	2.3
Change in short-term and other investments, net	40	73.6
Net cash used in investing activities	(239.5)	(140)
Cash flows - financing activities
Dividends paid to shareholders	(12.9)	(12.4)
Acquisition of treasury stock	(1.5)	(2.1)
Proceeds from exercise of stock options	0.3	0.5
Withholding tax payments on RSUs tendered	(1.7)	(1.3)
Annuity contracts: variable, fixed and FHLB funding agreements
Deposits	235.8	192.7
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets	(101.1)	(101.7)
Life policy accounts
Deposits	2.2	2.5
Withdrawals and surrenders	(1.1)	(1.2)
Change in deposit asset on reinsurance	(2.8)	(13.3)
Change in book overdrafts	(2.6)	4.6
Net cash provided by financing activities	114.6	68.3
Net increase in cash	17.1	15.7
Cash at beginning of period	22.3	25.5
Cash at end of period	$ 39.4	$ 41.2

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Business Horace Mann Educators Corporation is a holding company for insurance subsidiaries that market and underwrite personal lines of property and casualty insurance products (primarily personal lines of automobile and property insurance), supplemental insurance products (primarily cancer, heart, hospital, supplemental disability and accident coverages), retirement products (primarily tax-qualified fixed and variable annuities) and life insurance products, primarily to K-12 teachers, administrators and other employees of public schools and their families (collectively, HMEC, the Company or Horace Mann). Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (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. These Consolidated Financial Statements and Notes thereto should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in Part II - Item 8 of the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the results to be expected for the full year. The accompanying Consolidated Financial Statements and Notes thereto are unaudited. These financial statements reflect all adjustments (generally consisting only of normal recurring accruals) which are, in the opinion of management, necessary for the fair presentation of the consolidated financial position, results of operations and cash flows for the interim periods. The Company's significant accounting policies are summarized in Part II - Item 8, Note 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2020. Consolidation All intercompany transactions and balances between HMEC and its subsidiaries and affiliates have been eliminated. Use of Estimates 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 these estimates. The most significant critical accounting estimates include valuation of hard-to-value fixed maturity securities (including evaluation of impairments), evaluation of goodwill and intangible assets for impairment, valuation of annuity and life deferred policy acquisition costs, valuation of liabilities for property and casualty unpaid claims and claim expenses and valuation of certain investment contracts and policy reserves. Future Adoption of New Accounting Standards Accounting for Long-Duration Insurance Contracts In August 2018, the FASB issued accounting and disclosure guidance that contains targeted improvements to the accounting for long-duration insurance contracts. Under the new guidance, the cash flow assumptions used to measure the liability for future policy benefits for traditional insurance contracts will be required to be updated at least annually with changes recognized as a benefit expense (i.e., assumptions will no longer be locked-in).

Investments

Investments	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	Net Investment Income The components of net investment income for the following periods were as follows: ($ in millions) Three Months Ended 2021 2020 Fixed maturity securities $ 58.0 $ 59.4 Equity securities 1.1 1.2 Limited partnership interests 11.3 (2.7) Short-term and other investments 2.8 2.9 Investment expenses (2.1) (2.2) Net investment income - investment portfolio 71.1 58.6 Investment income - deposit asset on reinsurance 24.4 23.7 Total net investment income $ 95.5 $ 82.3 Net Investment Gains (Losses) Net investment gains (losses) for the following periods were as follows: ($ in millions) Three Months Ended 2021 2020 Fixed maturity securities $ (5.4) $ 1.1 Equity securities (2.7) (14.7) Short-term investments and other (0.9) (4.9) Net investment losses $ (9.0) $ (18.5) The Company, from time to time, sells invested assets subsequent to the reporting date that were considered temporarily impaired at such reporting date. Such sales are due to issuer specific events occurring subsequent to the reporting date that result in a change in the Company's intent or ability to hold an invested asset. The types of events that may result in a sale include significant changes in the economic facts and circumstances related to the invested asset, significant unforeseen changes in liquidity needs, or changes in the Company's investment strategy. Net Investment Gains (Losses) by Transaction Type The following table reconciles net investment gains (losses) by transaction type: ($ in millions) Three Months Ended 2021 2020 Credit loss impairments (1) $ (1.1) $ — Intent-to-sell impairments (2.1) (3.7) Total impairments on investments recognized in net income (3.2) (3.7) Sales and other, net (2.1) 4.5 Change in fair value - equity securities (2.8) (14.5) Change in fair value and gains (losses) realized on settlements - derivatives (0.9) (4.8) Net investment losses $ (9.0) $ (18.5) (1) For the three months ended March 31, 2021, the Company recognized a valuation allowance of $1.1 million for credit loss impairments with respect to fixed maturity securities available for sale. Fixed Maturity Securities The Company's investment portfolio is comprised primarily of fixed maturity securities. Amortized cost, net, gross unrealized investment gains (losses) and fair values of all fixed maturity securities in the portfolio were as follows: ($ in millions) Amortized Gross Unrealized Gross Unrealized Fair March 31, 2021 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 627.1 $ 52.9 $ 1.7 $ 678.3 Other, including U.S. Treasury securities 444.2 25.4 11.3 458.3 Municipal bonds 1,609.9 161.7 3.5 1,768.1 Foreign government bonds 40.1 4.4 — 44.5 Corporate bonds 2,063.6 148.6 18.0 2,194.2 Other asset-backed securities 1,207.8 19.2 14.1 1,212.9 Totals $ 5,992.7 $ 412.2 $ 48.6 $ 6,356.3 December 31, 2020 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 605.5 $ 79.6 $ 0.3 $ 684.8 Other, including U.S. Treasury securities 395.0 39.2 1.0 433.2 Municipal bonds 1,612.3 215.7 0.5 1,827.5 Foreign government bonds 40.2 4.9 — 45.1 Corporate bonds 1,905.2 221.6 3.9 2,122.9 Other asset-backed securities 1,230.4 24.1 22.7 1,231.8 Totals $ 5,788.6 $ 585.1 $ 28.4 $ 6,345.3 (1) Fair value includes securities issued by Federal National Mortgage Association (FNMA) of $373.3 million and $387.1 million; Federal Home Loan Mortgage Corporation (FHLMC) of $333.6 million and $344.3 million; and Government National Mortgage Association (GNMA) of $125.7 million and $132.3 million as of March 31, 2021 and December 31, 2020, respectively. The following table presents the fair value and gross unrealized losses for fixed maturity securities in an unrealized loss position at March 31, 2021 and December 31, 2020, respectively. The Company views the decrease in fair value of all of the fixed maturity securities with unrealized losses at March 31, 2021 — which was driven largely by increasing interest rates, spread widening, financial market illiquidity and/or market volatility from the date of acquisition — as temporary. As of March 31, 2021, the Company has not made the decision to sell and it is not more likely than not the Company will be required to sell the fixed maturity securities with unrealized losses before an anticipated recovery in value. Therefore, it was determined that the unrealized losses on the fixed maturity securities presented in the table below were not indicative of any impairments as of March 31, 2021. ($ in millions) 12 Months or Less More than 12 Months Total Fair Value Gross Fair Value Gross Fair Value Gross March 31, 2021 Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 24.0 $ 1.5 $ 3.1 $ 0.2 $ 27.1 $ 1.7 Other 172.4 11.3 — — 172.4 11.3 Municipal bonds 126.5 3.4 5.4 0.1 131.9 3.5 Foreign government bonds 0.5 — — — 0.5 — Corporate bonds 382.1 16.4 47.1 1.6 429.2 18.0 Other asset-backed securities 137.1 1.3 359.4 12.8 496.5 14.1 Total $ 842.6 $ 33.9 $ 415.0 $ 14.7 $ 1,257.6 $ 48.6 Number of positions with a gross unrealized loss 548 200 748 Fair value as a percentage of total fixed maturity securities at fair value 13.3 % 6.5 % 19.8 % December 31, 2020 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 4.9 $ 0.1 $ 2.6 $ 0.2 $ 7.5 $ 0.3 Other 95.9 1.0 — — 95.9 1.0 Municipal bonds 18.1 0.5 — — 18.1 0.5 Foreign government bonds — — — — — — Corporate bonds 126.6 3.7 10.9 0.2 137.5 3.9 Other asset-backed securities 316.9 17.2 409.3 5.5 726.2 22.7 Total $ 562.4 $ 22.5 $ 422.8 $ 5.9 $ 985.2 $ 28.4 Number of positions with a gross unrealized loss 308 123 431 Fair value as a percentage of total fixed maturity securities at fair value 8.9 % 6.7 % 15.6 % Fixed maturity securities with an investment grade rating represented 91.8% of the gross unrealized losses as of March 31, 2021. 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 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, estimated expected maturities consider broker-dealer survey prepayment assumptions and are verified for consistency with the interest rate and economic environments. ($ in millions) Percent of Total Fair Value March 31, 2021 March 31, 2021 December 31, 2020 Fair Amortized Estimated expected maturity: Due in 1 year or less 4.1 % 4.0 % $ 261.3 $ 255.5 Due after 1 year through 5 years 28.2 % 28.3 % 1,789.8 1,713.5 Due after 5 years through 10 years 28.3 % 28.0 % 1,799.7 1,669.5 Due after 10 years through 20 years 24.0 % 24.6 % 1,523.5 1,412.2 Due after 20 years 15.4 % 15.1 % 982.0 942.0 Total 100.0 % 100.0 % $ 6,356.3 $ 5,992.7 Average option-adjusted duration, in years 6.6 6.4 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 as follows: ($ in millions) Three Months Ended 2021 2020 Fixed maturity securities Proceeds received $ 95.5 $ 98.2 Gross gains realized 1.2 4.8 Gross losses realized (3.4) (0.3) Equity securities Proceeds received $ 0.4 $ 1.5 Gross gains realized 0.1 0.3 Gross losses realized — (0.6) Net Unrealized Investment Gains (Losses) on Fixed Maturity Securities The following table reconciles net unrealized investment gains (losses) on fixed maturity securities, net of tax, included in accumulated other comprehensive income (AOCI), before the impact of DAC: ($ in millions) Three Months Ended 2021 2020 Net unrealized investment gains (losses) Beginning of period $ 439.8 $ 264.4 Change in net unrealized investment gains (159.0) (103.8) Reclassification of net investment (gains) losses 6.4 (10.7) End of period $ 287.2 $ 149.9 Limited Partnership Interests Investments in limited partnership interests are accounted for using the equity method of accounting and include interests in senior commercial mortgage loan funds, hedge funds, infrastructure debt funds, infrastructure equity funds and other funds. Principal factors influencing carrying amount 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 partnership interests 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. The carrying amounts of equity method limited partnership interests were as follows: ($ in millions) March 31, December 31, 2021 2020 Senior commercial mortgage loan funds $ 197.3 $ 149.6 Hedge funds 62.6 63.2 Infrastructure debt funds 58.4 58.3 Infrastructure equity funds 56.2 52.1 Other (1) 130.7 125.8 Total $ 505.2 $ 449.0 (1) Other consists primarily of limited partnership interests in real estate equity funds, private equity funds and corporate mezzanine funds. Offsetting of Assets and Liabilities The Company's derivatives 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 instruments that were subject to a master netting arrangement for the Company. ($ in millions) Gross Net Amounts Gross Amounts Not Offset Gross Financial Cash Net March 31, 2021 Asset derivatives: Free-standing derivatives $ 17.5 $ — $ 17.5 $ 14.2 $ 3.3 $ — December 31, 2020 Asset derivatives: Free-standing derivatives $ 16.8 $ — $ 16.8 $ 13.7 $ 2.6 $ 0.5 Deposits At March 31, 2021 and December 31, 2020, fixed maturity securities with a fair value of $26.6 million and $26.9 million, respectively, were on deposit with governmental agencies as required by law in various states for which the insurance subsidiaries of HMEC conduct business. In addition, at March 31, 2021 and December 31, 2020, fixed maturity securities with a fair value of $844.1 million and $707.3 million, 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 $774.5 million at March 31, 2021 and $644.5 million at December 31, 2020. The deposited securities are reported as Fixed maturity securities on the Company’s Consolidated Balance Sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	The Company is required 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 Part II - Item 8, Note 3 of the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Financial Instruments Measured and Carried at Fair Value on a Recurring Basis The following table presents the Company's fair value hierarchy for those financial assets and financial liabilities measured and carried at fair value on a recurring basis. During the three months ended March 31, 2021 and 2020, there were no transfers between Level 1 and Level 2. At March 31, 2021, Level 3 invested assets comprised 5.1% of the Company’s total investment portfolio at fair value. ($ in millions) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 March 31, 2021 Financial Assets Investments Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 678.3 $ 678.3 $ — $ 668.0 $ 10.3 Other, including U.S. Treasury securities 458.3 458.3 27.1 431.2 — Municipal bonds 1,768.1 1,768.1 — 1,709.5 58.6 Foreign government bonds 44.5 44.5 — 44.5 — Corporate bonds 2,194.2 2,194.2 14.4 2,030.7 149.1 Other asset-backed securities 1,212.9 1,212.9 — 1,091.0 121.9 Total fixed maturity securities 6,356.3 6,356.3 41.5 5,974.9 339.9 Equity securities 140.0 140.0 38.1 101.6 0.3 Short-term investments 101.8 101.8 98.7 3.1 — Other investments 42.8 42.8 — 42.8 — Totals $ 6,640.9 $ 6,640.9 $ 178.3 $ 6,122.4 $ 340.2 Separate Account (variable annuity) assets (1) $ 3,052.9 $ 3,052.9 $ 3,052.9 $ — $ — Financial Liabilities Investment contract and policy reserves, embedded derivatives $ 2.7 $ 2.7 $ — $ 2.7 $ — Other policyholder funds, embedded derivatives $ 107.6 $ 107.6 $ — $ — $ 107.6 December 31, 2020 Financial Assets Investments Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 684.8 $ 684.8 $ — $ 673.7 $ 11.1 Other, including U.S. Treasury securities 433.1 433.1 18.3 414.8 — Municipal bonds 1,827.5 1,827.5 — 1,767.9 59.6 Foreign government bonds 45.1 45.1 — 45.1 — Corporate bonds 2,122.9 2,122.9 14.9 1,952.2 155.8 Other asset-backed securities 1,231.9 1,231.9 — 1,103.6 128.3 Total fixed maturity securities 6,345.3 6,345.3 33.2 5,957.3 354.8 Equity securities 121.6 121.6 39.2 82.1 0.3 Short-term investments 141.8 141.8 137.7 4.1 — Other investments 36.3 36.3 — 36.3 — Totals $ 6,645.0 $ 6,645.0 $ 210.1 $ 6,079.8 $ 355.1 Separate Account (variable annuity) assets (1) $ 2,891.4 $ 2,891.4 $ 2,891.4 $ — $ — Financial Liabilities Investment contract and policy reserves, embedded derivatives $ 2.5 $ 2.5 $ — $ 2.5 $ — Other policyholder funds, embedded derivatives $ 104.5 $ 104.5 $ — $ — $ 104.5 (1) Separate Account (variable annuity) liabilities are equal to the estimated fair value of the Separate Account (variable annuity) assets. Changes in Level 3 Fair Value Measurements The reconciliation for all financial assets and financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) was as follows: ($ in millions) Financial Assets Financial Liabilities (1) Municipal Corporate Mortgage-Backed and Other Asset- Backed Securities (2) Total Equity Total Beginning balance, January 1, 2021 $ 59.6 $ 155.8 $ 139.4 $ 354.8 $ 0.3 $ 355.1 $ 104.5 Transfers into Level 3 (3) — 24.1 3.1 27.2 — 27.2 — Transfers out of Level 3 (3) — (27.3) (5.9) (33.2) — (33.2) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — — — — — — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 4.3 Net unrealized investment gains (losses) included in OCI (0.9) (2.0) (0.3) (3.2) — (3.2) — Purchases — — — — — — — Issuances — — — — — — 0.7 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.1) (1.5) (4.1) (5.7) — (5.7) (1.9) Ending balance, March 31, 2021 $ 58.6 $ 149.1 $ 132.2 $ 339.9 $ 0.3 $ 340.2 $ 107.6 Beginning balance, January 1, 2020 $ 44.3 $ 104.0 $ 146.8 $ 295.1 $ 0.1 $ 295.2 $ 93.7 Transfers into Level 3 (3) 63.7 18.9 22.5 105.1 — 105.1 — Transfers out of Level 3 (3) — (10.1) (2.9) (13.0) — (13.0) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — — — — — — Net investment (gains) losses included in net income related to financial liabilities — — — — — — (5.0) Net unrealized investment gains (losses) included in OCI (3.0) (5.5) (24.4) (32.9) — (32.9) — Purchases — 6.9 1.9 8.8 — 8.8 — Issuances — — — — — — 1.3 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.1) (2.5) (3.4) (6.0) — (6.0) (2.5) Ending balance, March 31, 2020 $ 104.9 $ 111.7 $ 140.5 $ 357.1 $ 0.1 $ 357.2 $ 87.5 (1) Represents embedded derivatives, all related to the Company's fixed indexed annuity 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 asset-backed securities. (3) Transfers into and out of Level 3 during the three months ended March 31, 2021 and 2020 were attributable to changes in the availability of observable market information for individual fixed maturity securities. The Company's policy is to recognize transfers into and out of the levels as having occurred at the end of the reporting period in which the transfers were determined. For the three months ended March 31, 2021 and March 31, 2020, the Company had no net investment gains or losses on Level 3 financial assets. For the three months ended March 31, 2021, the Company had $4.3 million of net investment losses that were included in net income and were attributable to changes in the fair value of Level 3 financial liabilities; for the three months ended March 31, 2020, the respective net investment gains were $5.0 million. Quantitative Information about Level 3 Fair Value Measurements The following table provides quantitative information about the significant unobservable inputs for recurring fair value measurements categorized within Level 3. ($ in millions) Financial Fair Value at Valuation Technique(s) Unobservable Inputs Range (Weighted Average) and Single Point Best Estimate (1) Municipal bonds $ 58.6 discounted cash flow I spread (2) 307 - 391 bps Corporate bonds 149.1 discounted cash flow N spread (3) 272 - 553 bps market comparable option adjusted spread 12.54% Other asset-backed securities 121.9 vendor price haircut 3.00% - 5.00% discounted cash flow constant prepayment rate 20.00% discounted cash flow T spread (4) 235 - 800 bps discounted cash flow PDI interest margin (5) 7.13% discounted cash flow SBL interest margin (6) 4.50% Government mortgage-backed securities 10.3 vendor price haircut 3.00% - 5.00% Equity securities 0.3 Black Scholes equity value low - 31.00%; high - 41.00% ($ in millions) Financial Fair Value at Valuation Technique(s) Unobservable Inputs Range (Weighted Average) and Single Point Best Estimate (1) Derivatives $ 107.6 discounted cash flow lapse rate 5.30% mortality multiplier (7) 63.00% option budget 0.90% - 2.50% non-performance adjustment (8) 5.00% (1) When a range of unobservable inputs is not readily available, the Company uses a single point best estimate. (2) "I spread" is the interpolated weighted average life point on the "on the run" (OTR) point of the curve. (3) "N spread" is the interpolated weighted average life point on the swap curve. (4) "T spread" is a specific point on the OTR curve. (5) "PDI" stands for private debt investment. (6) "SBL" stands for broadly syndicated loans. (7) Mortality multiplier is applied to the Annuity 2000 table. (8) Determined as a percentage of a risk-free rate. The valuation techniques and significant unobservable inputs used in the fair value measurement for financial assets and financial liabilities classified as Level 3 are subject to the control processes as described in Part II - Item 8, Note 3 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. 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 include: benchmark yield, liquidity premium, estimated cash flows, prepayment and default speeds, spreads, weighted average life, and credit rating. Significant spread widening in isolation will adversely impact the overall valuation, while significant 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. These financial assets and financial liabilities are further described in Part II - Item 8, Note 3 in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The following table presents the carrying amount, fair value and fair value hierarchy of these financial assets and financial liabilities. ($ in millions) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 March 31, 2021 Financial Assets Other investments $ 167.1 $ 170.8 $ — $ — $ 170.8 Deposit asset on reinsurance 2,442.2 2,796.3 — — 2,796.3 Financial Liabilities Investment contract and policy reserves, fixed annuity contracts 4,876.0 4,995.1 — — 4,995.1 Investment contract and policy reserves, account values on life contracts 99.9 109.4 — — 109.4 Other policyholder funds 777.4 777.4 — 720.7 56.7 Short-term debt 135.0 135.0 — — 135.0 Long-term debt 302.4 331.5 — 331.5 — December 31, 2020 Financial Assets Other investments $ 168.3 $ 172.1 $ — $ — $ 172.1 Deposit asset on reinsurance 2,420.9 3,030.6 — — 3,030.6 Financial Liabilities Investment contract and policy reserves, fixed annuity contracts 4,847.6 4,963.3 — — 4,963.3 Investment contract and policy reserves, account values on life contracts 98.7 108.4 — — 108.4 Other policyholder funds 646.8 646.8 — 590.7 56.1 Short-term debt 135.0 135.0 — — 135.0 Long-term debt 302.3 331.1 — 331.1 —

Deposit Asset on Reinsurance

Deposit Asset on Reinsurance	3 Months Ended
	Mar. 31, 2021
Reinsurance Disclosures [Abstract]
Deposit Asset on Reinsurance	In the second quarter of 2019, the Company reinsured a $2.9 billion block of in force fixed and variable annuity business with a minimum crediting rate of 4.5%. This represented approximately 50% of the Company’s in force fixed annuity account balances. The arrangement contains investment guidelines and a trust to help meet the Company’s risk management objectives. The annuity reinsurance transaction was effective April 1, 2019. Under the agreement, approximately $2.2 billion of fixed annuity reserves were reinsured on a coinsurance basis. The separate account assets and liabilities of approximately $0.7 billion were reinsured on a modified coinsurance basis and thus, remain on the Company's consolidated financial statements, but the related results of operations are fully reinsured. The Company determined that the reinsurance agreement does not expose the reinsurer to a reasonable possibility of a significant loss from insurance risk. Therefore, the Company recognizes the reinsurance agreement using the deposit method of accounting. The assets transferred to the reinsurer as consideration paid is reported as a Deposit asset on reinsurance on the Company's Consolidated Balance Sheets. As amounts are received or paid, consistent with the underlying reinsured contracts, the Deposit asset on reinsurance is adjusted. The Deposit asset on reinsurance is accreted to the estimated ultimate cash flows using the interest method and the adjustment is reported as Net investment income. Interest accreted on the Deposit asset on reinsurance was $24.4 million and $23.7 million for the three months ended March 31, 2021 and 2020, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	The Company conducts impairment testing for goodwill and intangible assets at least annually, or more often if events, changes or circumstances indicate that the carrying amount may not be recoverable. See Part II - Item 8, Note 1 in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 for further description of impairment testing. There were no changes in the carrying amount of goodwill by reporting unit for the three months ended March 31, 2021. The carrying amount of goodwill by reporting unit as of March 31, 2021 was as follows: ($ in millions) March 31, 2021 Property and Casualty $ 9.5 Supplemental 19.6 Retirement 4.5 Life 9.9 Total $ 43.5 As of March 31, 2021, the outstanding amounts of definite-lived intangible assets subject to amortization are attributable to the acquisitions of Benefit Consultants Group, Inc. (BCG) and NTA Life Enterprises, LLC (NTA) during 2019. The acquisition of BCG resulted in initial recognition of definite-lived intangible assets subject to amortization in the amount of $14.1 million and the acquisition of NTA resulted in initial recognition of definite-lived intangible assets subject to amortization in the amount of $160.4 million. As of March 31, 2021 the outstanding amounts of definite-lived intangible assets subject to amortization were as follows: ($ in millions) Weighted Average Useful Life (in Years) At inception: Value of business acquired 30 $ 94.4 Value of distribution acquired 17 54.0 Value of agency relationships 14 17.0 Value of customer relationships 10 9.1 Total 23 174.5 Accumulated amortization and impairments: Value of business acquired (12.6) Value of distribution acquired (9.4) Value of agency relationships (4.6) Value of customer relationships (3.5) Total (30.1) Net intangible assets subject to amortization: $ 144.4 With regards to the definite-lived intangible assets in the table above, the value of business acquired intangible asset represents the present value of the expected underwriting profit within policies that were in force on the date of acquisition. The value of distribution acquired intangible asset represents the present value of future business to be written by the existing agency force. The value of agency relationships intangible asset represents the present value of the commission overrides retained by NTA. The value of customer relationships intangible asset represents the present value of the expected profits from existing BCG customers in force at the date of acquisition. All of the aforementioned definite-lived intangible assets were valued using the income approach. Estimated future amortization of the Company's definite-lived intangible assets were as follows: ($ in millions) Year Ending December 31, 2021 (excluding the three months ended March 31, 2021) $ 9.8 2022 12.1 2023 11.2 2024 10.5 2025 9.8 Thereafter 91.0 Total $ 144.4 The value of business acquired intangible asset is being amortized by product based on the present value of future premiums to be received. The value of distribution acquired intangible asset is being amortized on a straight-line basis. The value of agency relationships intangible asset is being amortized based on the present value of future premiums to be received. The value of customer relationships intangible asset is being amortized based on the present value of future profits to be received. Indefinite-lived intangible assets (not subject to amortization) as of March 31, 2021 were as follows: ($ in millions) Trade names $ 7.9 State licenses 2.9 Total $ 10.8 The trade names intangible asset represents the present value of future savings accruing to NTA and BCG by virtue of not having to pay royalties for the use of the trade names, valued using the relief from royalty method. The state licenses intangible asset represents the regulatory licenses held by NTA that were valued using the cost approach.

Unpaid Claims and Claim Expense

Unpaid Claims and Claim Expenses	3 Months Ended
	Mar. 31, 2021
Insurance Loss Reserves [Abstract]
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 a gross and net (after reinsurance) basis. 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 millions) Three Months Ended 2021 2020 Property and Casualty Beginning gross reserves (1) $ 372.2 $ 387.0 Less: reinsurance recoverables 112.9 120.5 Net reserves, beginning of period (2) 259.3 266.5 Incurred claims and claim expenses: Claims occurring in the current period 94.8 105.5 Decrease in estimated reserves for claims occurring in prior periods (3) — (1.0) Total claims and claim expenses incurred (4) 94.8 104.5 Claims and claim expense payments for claims occurring during: Current period 34.4 43.5 Prior periods 58.1 64.3 Total claims and claim expense payments 92.5 107.8 Net reserves, end of period (2) 261.6 263.2 Plus: reinsurance recoverables 112.5 119.0 Ending gross reserves (1) $ 374.1 $ 382.2 (1) Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Supplemental, Retirement and Life of $78.4 million and $56.2 million as of March 31, 2021 and 2020, 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 Supplemental, Retirement and Life of $39.5 million and $34.2 million for the three months ended March 31, 2021 and 2020, respectively, in addition to Property and Casualty amounts. Net favorable development of total reserves for Property and Casualty claims occurring in prior years was $0.0 million and $1.0 million for the three months ended March 31, 2021 and 2020, respectively. The favorable development for the three months ended March 31, 2020 was the result of favorable loss trends in automobile for accident years 2019 and prior.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2021
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 millions) Gross Ceded to Other Companies (1) Assumed Net Three months ended March 31, 2021 Premiums written and contract deposits (2) $ 320.6 $ 5.9 $ 1.5 $ 316.2 Premiums and contract charges earned 234.2 8.4 1.8 227.6 Benefits, claims and settlement expenses 135.6 2.5 1.2 134.3 Three months ended March 31, 2020 Premiums written and contract deposits (2) $ 333.7 $ 6.3 $ 1.4 $ 328.8 Premiums and contract charges earned 243.2 8.4 1.5 236.3 Benefits, claims and settlement expenses 139.5 1.9 1.1 138.7 (1) Excludes the annuity reinsurance transaction accounted for using the deposit method that is discussed in Note 4. (2) This measure is not based on accounting principles generally accepted in the United States of America (non-GAAP). An explanation of this non-GAAP measure is contained in the Glossary of Selected Terms included as Exhibit 99.1 in the Company's reports filed with the SEC.

Commitments

Commitments	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments	Investment Commitments The Company has outstanding commitments to fund investments primarily in limited partnership interests. Such unfunded commitments were $752.3 million and $571.9 million as of March 31, 2021 and December 31, 2020, respectively.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	The Company conducts and manages its business through five segments. The four operating segments, representing the major lines of business, are: Property and Casualty (primarily personal lines automobile and property insurance products), Supplemental (primarily cancer, heart, hospital, supplemental disability and accident coverages), Retirement (primarily tax-qualified fixed and variable annuities) and Life (life insurance products). 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 fifth segment, Corporate and Other. In addition to ongoing transactions such as corporate debt service, net investment gains (losses) and 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 millions) Three Months Ended 2021 2020 Insurance premiums and contract charges earned Property and Casualty $ 155.8 $ 166.5 Supplemental 31.7 33.0 Retirement 8.6 7.4 Life 31.5 29.4 Total $ 227.6 $ 236.3 Net investment income Property and Casualty $ 10.8 $ 10.3 Supplemental 5.3 3.5 Retirement 60.4 53.5 Life 19.6 15.6 Corporate and Other — (0.1) Intersegment eliminations (0.6) (0.5) Total $ 95.5 $ 82.3 Net income (loss) Property and Casualty $ 27.9 $ 26.6 Supplemental 11.4 10.5 Retirement 10.6 (0.9) Life 0.7 0.6 Corporate and Other (11.3) (18.3) Total $ 39.3 $ 18.5 ($ in millions) March 31, 2021 December 31, 2020 Assets Property and Casualty $ 1,298.9 $ 1,324.9 Supplemental 824.7 811.5 Retirement 9,455.6 9,198.7 Life 2,069.0 2,044.5 Corporate and Other 163.1 182.3 Intersegment eliminations (65.8) (90.1) Total $ 13,745.5 $ 13,471.8

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
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 fixed maturity 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 table reconciles these components. ($ in millions) Net Unrealized Investment Securities (1)(2) Net Funded Status of (1) Total (1) Beginning balance, January 1, 2021 $ 366.3 $ (11.2) $ 355.1 Other comprehensive income (loss) before reclassifications (129.1) — (129.1) Amounts reclassified from AOCI 6.4 — 6.4 Net current period other comprehensive income (loss) (122.7) — (122.7) Ending balance, March 31, 2021 $ 243.6 $ (11.2) $ 232.4 Beginning balance, January 1, 2020 $ 230.4 $ (10.7) $ 219.7 Other comprehensive income (loss) before reclassifications (104.5) — (104.5) Amounts reclassified from AOCI 10.7 — 10.7 Net current period other comprehensive income (loss) (93.8) — (93.8) Ending balance, March 31, 2020 $ 136.6 $ (10.7) $ 125.9 (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $(8.1) million and $(13.6) million, are included in Net investment losses and the related income tax expenses, $(1.7) million and $(2.9) million, are included in Income tax expense in the Consolidated Statements of Operations for the three month periods ended March 31, 2021 and 2020 respectively. Comparative information for elements that are not required to be reclassified in their entirety to net income in the same reporting period is disclosed in Note 2.

Supplemental Consolidated Cash

Supplemental Consolidated Cash and Cash Flow Information	3 Months Ended
	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Consolidated Cash and Cash Flow Information	($ in millions) March 31, December 31, 2021 2020 Cash $ 38.3 $ 21.8 Restricted cash 1.1 0.5 Total cash and restricted cash reported in the Consolidated Balance Sheets $ 39.4 $ 22.3 ($ in millions) Three Months Ended 2021 2020 Cash paid (recovered) during the three months for: Interest $ 0.6 $ 1.4 Income taxes (0.1) (0.7) Non-cash investing activities with respect to modifications or exchanges of fixed maturity securities as well as paid-in-kind activity for policy loans were insignificant for the three months ended March 31, 2021 and 2020, respectively.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (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. These Consolidated Financial Statements and Notes thereto should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in Part II - Item 8 of the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the results to be expected for the full year. The accompanying Consolidated Financial Statements and Notes thereto are unaudited. These financial statements reflect all adjustments (generally consisting only of normal recurring accruals) which are, in the opinion of management, necessary for the fair presentation of the consolidated financial position, results of operations and cash flows for the interim periods. The Company's significant accounting policies are summarized in Part II - Item 8, Note 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2020.
Consolidation	Consolidation All intercompany transactions and balances between HMEC and its subsidiaries and affiliates have been eliminated.
Use of Estimates	Use of Estimates 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 these estimates. The most significant critical accounting estimates include valuation of hard-to-value fixed maturity securities (including evaluation of impairments), evaluation of goodwill and intangible assets for impairment, valuation of annuity and life deferred policy acquisition costs, valuation of liabilities for property and casualty unpaid claims and claim expenses and valuation of certain investment contracts and policy reserves.
Future Adoption of New Accounting Standards	Future Adoption of New Accounting Standards Accounting for Long-Duration Insurance Contracts In August 2018, the FASB issued accounting and disclosure guidance that contains targeted improvements to the accounting for long-duration insurance contracts. Under the new guidance, the cash flow assumptions used to measure the liability for future policy benefits for traditional insurance contracts will be required to be updated at least annually with changes recognized as a benefit expense (i.e., assumptions will no longer be locked-in).

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Components of net investment income	The components of net investment income for the following periods were as follows: ($ in millions) Three Months Ended 2021 2020 Fixed maturity securities $ 58.0 $ 59.4 Equity securities 1.1 1.2 Limited partnership interests 11.3 (2.7) Short-term and other investments 2.8 2.9 Investment expenses (2.1) (2.2) Net investment income - investment portfolio 71.1 58.6 Investment income - deposit asset on reinsurance 24.4 23.7 Total net investment income $ 95.5 $ 82.3
Schedule of net investment gains (losses)	Net investment gains (losses) for the following periods were as follows: ($ in millions) Three Months Ended 2021 2020 Fixed maturity securities $ (5.4) $ 1.1 Equity securities (2.7) (14.7) Short-term investments and other (0.9) (4.9) Net investment losses $ (9.0) $ (18.5) The following table reconciles net investment gains (losses) by transaction type: ($ in millions) Three Months Ended 2021 2020 Credit loss impairments (1) $ (1.1) $ — Intent-to-sell impairments (2.1) (3.7) Total impairments on investments recognized in net income (3.2) (3.7) Sales and other, net (2.1) 4.5 Change in fair value - equity securities (2.8) (14.5) Change in fair value and gains (losses) realized on settlements - derivatives (0.9) (4.8) Net investment losses $ (9.0) $ (18.5) (1) For the three months ended March 31, 2021, the Company recognized a valuation allowance of $1.1 million for credit loss impairments with respect to fixed maturity securities available for sale.
Unrealized gains and losses on fixed maturities and equity securities	Amortized cost, net, gross unrealized investment gains (losses) and fair values of all fixed maturity securities in the portfolio were as follows: ($ in millions) Amortized Gross Unrealized Gross Unrealized Fair March 31, 2021 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 627.1 $ 52.9 $ 1.7 $ 678.3 Other, including U.S. Treasury securities 444.2 25.4 11.3 458.3 Municipal bonds 1,609.9 161.7 3.5 1,768.1 Foreign government bonds 40.1 4.4 — 44.5 Corporate bonds 2,063.6 148.6 18.0 2,194.2 Other asset-backed securities 1,207.8 19.2 14.1 1,212.9 Totals $ 5,992.7 $ 412.2 $ 48.6 $ 6,356.3 December 31, 2020 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 605.5 $ 79.6 $ 0.3 $ 684.8 Other, including U.S. Treasury securities 395.0 39.2 1.0 433.2 Municipal bonds 1,612.3 215.7 0.5 1,827.5 Foreign government bonds 40.2 4.9 — 45.1 Corporate bonds 1,905.2 221.6 3.9 2,122.9 Other asset-backed securities 1,230.4 24.1 22.7 1,231.8 Totals $ 5,788.6 $ 585.1 $ 28.4 $ 6,345.3 (1) Fair value includes securities issued by Federal National Mortgage Association (FNMA) of $373.3 million and $387.1 million; Federal Home Loan Mortgage Corporation (FHLMC) of $333.6 million and $344.3 million; and Government National Mortgage Association (GNMA) of $125.7 million and $132.3 million as of March 31, 2021 and December 31, 2020, respectively.
Summary of fair value and gross unrealized losses of fixed maturity securities and equity securities in an unrealized loss position	The following table presents the fair value and gross unrealized losses for fixed maturity securities in an unrealized loss position at March 31, 2021 and December 31, 2020, respectively. The Company views the decrease in fair value of all of the fixed maturity securities with unrealized losses at March 31, 2021 — which was driven largely by increasing interest rates, spread widening, financial market illiquidity and/or market volatility from the date of acquisition — as temporary. As of March 31, 2021, the Company has not made the decision to sell and it is not more likely than not the Company will be required to sell the fixed maturity securities with unrealized losses before an anticipated recovery in value. Therefore, it was determined that the unrealized losses on the fixed maturity securities presented in the table below were not indicative of any impairments as of March 31, 2021. ($ in millions) 12 Months or Less More than 12 Months Total Fair Value Gross Fair Value Gross Fair Value Gross March 31, 2021 Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 24.0 $ 1.5 $ 3.1 $ 0.2 $ 27.1 $ 1.7 Other 172.4 11.3 — — 172.4 11.3 Municipal bonds 126.5 3.4 5.4 0.1 131.9 3.5 Foreign government bonds 0.5 — — — 0.5 — Corporate bonds 382.1 16.4 47.1 1.6 429.2 18.0 Other asset-backed securities 137.1 1.3 359.4 12.8 496.5 14.1 Total $ 842.6 $ 33.9 $ 415.0 $ 14.7 $ 1,257.6 $ 48.6 Number of positions with a gross unrealized loss 548 200 748 Fair value as a percentage of total fixed maturity securities at fair value 13.3 % 6.5 % 19.8 % December 31, 2020 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 4.9 $ 0.1 $ 2.6 $ 0.2 $ 7.5 $ 0.3 Other 95.9 1.0 — — 95.9 1.0 Municipal bonds 18.1 0.5 — — 18.1 0.5 Foreign government bonds — — — — — — Corporate bonds 126.6 3.7 10.9 0.2 137.5 3.9 Other asset-backed securities 316.9 17.2 409.3 5.5 726.2 22.7 Total $ 562.4 $ 22.5 $ 422.8 $ 5.9 $ 985.2 $ 28.4 Number of positions with a gross unrealized loss 308 123 431 Fair value as a percentage of total fixed maturity securities at fair value 8.9 % 6.7 % 15.6 %
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, estimated expected maturities consider broker-dealer survey prepayment assumptions and are verified for consistency with the interest rate and economic environments. ($ in millions) Percent of Total Fair Value March 31, 2021 March 31, 2021 December 31, 2020 Fair Amortized Estimated expected maturity: Due in 1 year or less 4.1 % 4.0 % $ 261.3 $ 255.5 Due after 1 year through 5 years 28.2 % 28.3 % 1,789.8 1,713.5 Due after 5 years through 10 years 28.3 % 28.0 % 1,799.7 1,669.5 Due after 10 years through 20 years 24.0 % 24.6 % 1,523.5 1,412.2 Due after 20 years 15.4 % 15.1 % 982.0 942.0 Total 100.0 % 100.0 % $ 6,356.3 $ 5,992.7 Average option-adjusted duration, in years 6.6 6.4
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 as follows: ($ in millions) Three Months Ended 2021 2020 Fixed maturity securities Proceeds received $ 95.5 $ 98.2 Gross gains realized 1.2 4.8 Gross losses realized (3.4) (0.3) Equity securities Proceeds received $ 0.4 $ 1.5 Gross gains realized 0.1 0.3 Gross losses realized — (0.6)
Reconciliation of net unrealized investment gains (losses) on fixed maturity securities and equity securities	The following table reconciles net unrealized investment gains (losses) on fixed maturity securities, net of tax, included in accumulated other comprehensive income (AOCI), before the impact of DAC: ($ in millions) Three Months Ended 2021 2020 Net unrealized investment gains (losses) Beginning of period $ 439.8 $ 264.4 Change in net unrealized investment gains (159.0) (103.8) Reclassification of net investment (gains) losses 6.4 (10.7) End of period $ 287.2 $ 149.9
Schedule of carrying amounts of equity method limited partnership interests	The carrying amounts of equity method limited partnership interests were as follows: ($ in millions) March 31, December 31, 2021 2020 Senior commercial mortgage loan funds $ 197.3 $ 149.6 Hedge funds 62.6 63.2 Infrastructure debt funds 58.4 58.3 Infrastructure equity funds 56.2 52.1 Other (1) 130.7 125.8 Total $ 505.2 $ 449.0 (1) Other consists primarily of limited partnership interests in real estate equity funds, private equity funds and corporate mezzanine funds.
Offsetting assets and liability	The following table presents instruments that were subject to a master netting arrangement for the Company. ($ in millions) Gross Net Amounts Gross Amounts Not Offset Gross Financial Cash Net March 31, 2021 Asset derivatives: Free-standing derivatives $ 17.5 $ — $ 17.5 $ 14.2 $ 3.3 $ — December 31, 2020 Asset derivatives: Free-standing derivatives $ 16.8 $ — $ 16.8 $ 13.7 $ 2.6 $ 0.5

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
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 financial assets and financial liabilities measured and carried at fair value on a recurring basis. During the three months ended March 31, 2021 and 2020, there were no transfers between Level 1 and Level 2. At March 31, 2021, Level 3 invested assets comprised 5.1% of the Company’s total investment portfolio at fair value. ($ in millions) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 March 31, 2021 Financial Assets Investments Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 678.3 $ 678.3 $ — $ 668.0 $ 10.3 Other, including U.S. Treasury securities 458.3 458.3 27.1 431.2 — Municipal bonds 1,768.1 1,768.1 — 1,709.5 58.6 Foreign government bonds 44.5 44.5 — 44.5 — Corporate bonds 2,194.2 2,194.2 14.4 2,030.7 149.1 Other asset-backed securities 1,212.9 1,212.9 — 1,091.0 121.9 Total fixed maturity securities 6,356.3 6,356.3 41.5 5,974.9 339.9 Equity securities 140.0 140.0 38.1 101.6 0.3 Short-term investments 101.8 101.8 98.7 3.1 — Other investments 42.8 42.8 — 42.8 — Totals $ 6,640.9 $ 6,640.9 $ 178.3 $ 6,122.4 $ 340.2 Separate Account (variable annuity) assets (1) $ 3,052.9 $ 3,052.9 $ 3,052.9 $ — $ — Financial Liabilities Investment contract and policy reserves, embedded derivatives $ 2.7 $ 2.7 $ — $ 2.7 $ — Other policyholder funds, embedded derivatives $ 107.6 $ 107.6 $ — $ — $ 107.6 December 31, 2020 Financial Assets Investments Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 684.8 $ 684.8 $ — $ 673.7 $ 11.1 Other, including U.S. Treasury securities 433.1 433.1 18.3 414.8 — Municipal bonds 1,827.5 1,827.5 — 1,767.9 59.6 Foreign government bonds 45.1 45.1 — 45.1 — Corporate bonds 2,122.9 2,122.9 14.9 1,952.2 155.8 Other asset-backed securities 1,231.9 1,231.9 — 1,103.6 128.3 Total fixed maturity securities 6,345.3 6,345.3 33.2 5,957.3 354.8 Equity securities 121.6 121.6 39.2 82.1 0.3 Short-term investments 141.8 141.8 137.7 4.1 — Other investments 36.3 36.3 — 36.3 — Totals $ 6,645.0 $ 6,645.0 $ 210.1 $ 6,079.8 $ 355.1 Separate Account (variable annuity) assets (1) $ 2,891.4 $ 2,891.4 $ 2,891.4 $ — $ — Financial Liabilities Investment contract and policy reserves, embedded derivatives $ 2.5 $ 2.5 $ — $ 2.5 $ — Other policyholder funds, embedded derivatives $ 104.5 $ 104.5 $ — $ — $ 104.5 (1) Separate Account (variable annuity) liabilities are equal to the estimated fair value of the Separate Account (variable annuity) assets.
Schedule of reconciliations for all Level 3 financial assets and financial liabilities measured at fair value on a recurring basis	The reconciliation for all financial assets and financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) was as follows: ($ in millions) Financial Assets Financial Liabilities (1) Municipal Corporate Mortgage-Backed and Other Asset- Backed Securities (2) Total Equity Total Beginning balance, January 1, 2021 $ 59.6 $ 155.8 $ 139.4 $ 354.8 $ 0.3 $ 355.1 $ 104.5 Transfers into Level 3 (3) — 24.1 3.1 27.2 — 27.2 — Transfers out of Level 3 (3) — (27.3) (5.9) (33.2) — (33.2) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — — — — — — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 4.3 Net unrealized investment gains (losses) included in OCI (0.9) (2.0) (0.3) (3.2) — (3.2) — Purchases — — — — — — — Issuances — — — — — — 0.7 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.1) (1.5) (4.1) (5.7) — (5.7) (1.9) Ending balance, March 31, 2021 $ 58.6 $ 149.1 $ 132.2 $ 339.9 $ 0.3 $ 340.2 $ 107.6 Beginning balance, January 1, 2020 $ 44.3 $ 104.0 $ 146.8 $ 295.1 $ 0.1 $ 295.2 $ 93.7 Transfers into Level 3 (3) 63.7 18.9 22.5 105.1 — 105.1 — Transfers out of Level 3 (3) — (10.1) (2.9) (13.0) — (13.0) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — — — — — — Net investment (gains) losses included in net income related to financial liabilities — — — — — — (5.0) Net unrealized investment gains (losses) included in OCI (3.0) (5.5) (24.4) (32.9) — (32.9) — Purchases — 6.9 1.9 8.8 — 8.8 — Issuances — — — — — — 1.3 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.1) (2.5) (3.4) (6.0) — (6.0) (2.5) Ending balance, March 31, 2020 $ 104.9 $ 111.7 $ 140.5 $ 357.1 $ 0.1 $ 357.2 $ 87.5 (1) Represents embedded derivatives, all related to the Company's fixed indexed annuity 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 asset-backed securities. (3) Transfers into and out of Level 3 during the three months ended March 31, 2021 and 2020 were attributable to changes in the availability of observable market information for individual fixed maturity securities. The Company's policy is to recognize transfers into and out of the levels as having occurred at the end of the reporting period in which the transfers were determined.
Quantitative Information about Level 3 Fair Value Measurements	The following table provides quantitative information about the significant unobservable inputs for recurring fair value measurements categorized within Level 3. ($ in millions) Financial Fair Value at Valuation Technique(s) Unobservable Inputs Range (Weighted Average) and Single Point Best Estimate (1) Municipal bonds $ 58.6 discounted cash flow I spread (2) 307 - 391 bps Corporate bonds 149.1 discounted cash flow N spread (3) 272 - 553 bps market comparable option adjusted spread 12.54% Other asset-backed securities 121.9 vendor price haircut 3.00% - 5.00% discounted cash flow constant prepayment rate 20.00% discounted cash flow T spread (4) 235 - 800 bps discounted cash flow PDI interest margin (5) 7.13% discounted cash flow SBL interest margin (6) 4.50% Government mortgage-backed securities 10.3 vendor price haircut 3.00% - 5.00% Equity securities 0.3 Black Scholes equity value low - 31.00%; high - 41.00% ($ in millions) Financial Fair Value at Valuation Technique(s) Unobservable Inputs Range (Weighted Average) and Single Point Best Estimate (1) Derivatives $ 107.6 discounted cash flow lapse rate 5.30% mortality multiplier (7) 63.00% option budget 0.90% - 2.50% non-performance adjustment (8) 5.00% (1) When a range of unobservable inputs is not readily available, the Company uses a single point best estimate. (2) "I spread" is the interpolated weighted average life point on the "on the run" (OTR) point of the curve. (3) "N spread" is the interpolated weighted average life point on the swap curve. (4) "T spread" is a specific point on the OTR curve. (5) "PDI" stands for private debt investment. (6) "SBL" stands for broadly syndicated loans. (7) Mortality multiplier is applied to the Annuity 2000 table. (8) Determined as a percentage of a risk-free rate.
Summary of fair value assets and liabilities measured on nonrecurring basis	The following table presents the carrying amount, fair value and fair value hierarchy of these financial assets and financial liabilities. ($ in millions) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 March 31, 2021 Financial Assets Other investments $ 167.1 $ 170.8 $ — $ — $ 170.8 Deposit asset on reinsurance 2,442.2 2,796.3 — — 2,796.3 Financial Liabilities Investment contract and policy reserves, fixed annuity contracts 4,876.0 4,995.1 — — 4,995.1 Investment contract and policy reserves, account values on life contracts 99.9 109.4 — — 109.4 Other policyholder funds 777.4 777.4 — 720.7 56.7 Short-term debt 135.0 135.0 — — 135.0 Long-term debt 302.4 331.5 — 331.5 — December 31, 2020 Financial Assets Other investments $ 168.3 $ 172.1 $ — $ — $ 172.1 Deposit asset on reinsurance 2,420.9 3,030.6 — — 3,030.6 Financial Liabilities Investment contract and policy reserves, fixed annuity contracts 4,847.6 4,963.3 — — 4,963.3 Investment contract and policy reserves, account values on life contracts 98.7 108.4 — — 108.4 Other policyholder funds 646.8 646.8 — 590.7 56.1 Short-term debt 135.0 135.0 — — 135.0 Long-term debt 302.3 331.1 — 331.1 —

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The carrying amount of goodwill by reporting unit as of March 31, 2021 was as follows: ($ in millions) March 31, 2021 Property and Casualty $ 9.5 Supplemental 19.6 Retirement 4.5 Life 9.9 Total $ 43.5
Summary of finite-lived intangible assets	As of March 31, 2021 the outstanding amounts of definite-lived intangible assets subject to amortization were as follows: ($ in millions) Weighted Average Useful Life (in Years) At inception: Value of business acquired 30 $ 94.4 Value of distribution acquired 17 54.0 Value of agency relationships 14 17.0 Value of customer relationships 10 9.1 Total 23 174.5 Accumulated amortization and impairments: Value of business acquired (12.6) Value of distribution acquired (9.4) Value of agency relationships (4.6) Value of customer relationships (3.5) Total (30.1) Net intangible assets subject to amortization: $ 144.4
Future amortization expense	Estimated future amortization of the Company's definite-lived intangible assets were as follows: ($ in millions) Year Ending December 31, 2021 (excluding the three months ended March 31, 2021) $ 9.8 2022 12.1 2023 11.2 2024 10.5 2025 9.8 Thereafter 91.0 Total $ 144.4
Summary of indefinite-lived intangible assets	Indefinite-lived intangible assets (not subject to amortization) as of March 31, 2021 were as follows: ($ in millions) Trade names $ 7.9 State licenses 2.9 Total $ 10.8

Unpaid Claims and Claim Expen_2

Unpaid Claims and Claim Expenses (Tables)	3 Months Ended
	Mar. 31, 2021
Insurance Loss Reserves [Abstract]
Reconciliation of property and casualty unpaid claims and claim expense	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 a gross and net (after reinsurance) basis. 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 millions) Three Months Ended 2021 2020 Property and Casualty Beginning gross reserves (1) $ 372.2 $ 387.0 Less: reinsurance recoverables 112.9 120.5 Net reserves, beginning of period (2) 259.3 266.5 Incurred claims and claim expenses: Claims occurring in the current period 94.8 105.5 Decrease in estimated reserves for claims occurring in prior periods (3) — (1.0) Total claims and claim expenses incurred (4) 94.8 104.5 Claims and claim expense payments for claims occurring during: Current period 34.4 43.5 Prior periods 58.1 64.3 Total claims and claim expense payments 92.5 107.8 Net reserves, end of period (2) 261.6 263.2 Plus: reinsurance recoverables 112.5 119.0 Ending gross reserves (1) $ 374.1 $ 382.2 (1) Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Supplemental, Retirement and Life of $78.4 million and $56.2 million as of March 31, 2021 and 2020, 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 Supplemental, Retirement and Life of $39.5 million and $34.2 million for the three months ended March 31, 2021 and 2020, respectively, in addition to Property and Casualty amounts.

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2021
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 millions) Gross Ceded to Other Companies (1) Assumed Net Three months ended March 31, 2021 Premiums written and contract deposits (2) $ 320.6 $ 5.9 $ 1.5 $ 316.2 Premiums and contract charges earned 234.2 8.4 1.8 227.6 Benefits, claims and settlement expenses 135.6 2.5 1.2 134.3 Three months ended March 31, 2020 Premiums written and contract deposits (2) $ 333.7 $ 6.3 $ 1.4 $ 328.8 Premiums and contract charges earned 243.2 8.4 1.5 236.3 Benefits, claims and settlement expenses 139.5 1.9 1.1 138.7 (1) Excludes the annuity reinsurance transaction accounted for using the deposit method that is discussed in Note 4. (2) This measure is not based on accounting principles generally accepted in the United States of America (non-GAAP). An explanation of this non-GAAP measure is contained in the Glossary of Selected Terms included as Exhibit 99.1 in the Company's reports filed with the SEC.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Summarized financial information for these segments	Summarized financial information for these segments is as follows: ($ in millions) Three Months Ended 2021 2020 Insurance premiums and contract charges earned Property and Casualty $ 155.8 $ 166.5 Supplemental 31.7 33.0 Retirement 8.6 7.4 Life 31.5 29.4 Total $ 227.6 $ 236.3 Net investment income Property and Casualty $ 10.8 $ 10.3 Supplemental 5.3 3.5 Retirement 60.4 53.5 Life 19.6 15.6 Corporate and Other — (0.1) Intersegment eliminations (0.6) (0.5) Total $ 95.5 $ 82.3 Net income (loss) Property and Casualty $ 27.9 $ 26.6 Supplemental 11.4 10.5 Retirement 10.6 (0.9) Life 0.7 0.6 Corporate and Other (11.3) (18.3) Total $ 39.3 $ 18.5 ($ in millions) March 31, 2021 December 31, 2020 Assets Property and Casualty $ 1,298.9 $ 1,324.9 Supplemental 824.7 811.5 Retirement 9,455.6 9,198.7 Life 2,069.0 2,044.5 Corporate and Other 163.1 182.3 Intersegment eliminations (65.8) (90.1) Total $ 13,745.5 $ 13,471.8

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of accumulated other comprehensive income (loss)	The following table reconciles these components. ($ in millions) Net Unrealized Investment Securities (1)(2) Net Funded Status of (1) Total (1) Beginning balance, January 1, 2021 $ 366.3 $ (11.2) $ 355.1 Other comprehensive income (loss) before reclassifications (129.1) — (129.1) Amounts reclassified from AOCI 6.4 — 6.4 Net current period other comprehensive income (loss) (122.7) — (122.7) Ending balance, March 31, 2021 $ 243.6 $ (11.2) $ 232.4 Beginning balance, January 1, 2020 $ 230.4 $ (10.7) $ 219.7 Other comprehensive income (loss) before reclassifications (104.5) — (104.5) Amounts reclassified from AOCI 10.7 — 10.7 Net current period other comprehensive income (loss) (93.8) — (93.8) Ending balance, March 31, 2020 $ 136.6 $ (10.7) $ 125.9 (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $(8.1) million and $(13.6) million, are included in Net investment losses and the related income tax expenses, $(1.7) million and $(2.9) million, are included in Income tax expense in the Consolidated Statements of Operations for the three month periods ended March 31, 2021 and 2020 respectively.

Supplemental Consolidated Cas_2

Supplemental Consolidated Cash and Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Summary of cash and restricted cash	($ in millions) March 31, December 31, 2021 2020 Cash $ 38.3 $ 21.8 Restricted cash 1.1 0.5 Total cash and restricted cash reported in the Consolidated Balance Sheets $ 39.4 $ 22.3 ($ in millions) Three Months Ended 2021 2020 Cash paid (recovered) during the three months for: Interest $ 0.6 $ 1.4 Income taxes (0.1) (0.7)

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Investment Income [Line Items]
Investment expenses	$ (2.1)	$ (2.2)
Total net investment income	95.5	82.3
Investment Portfolio
Net Investment Income [Line Items]
Total net investment income	71.1	58.6
Deposit asset on reinsurance
Net Investment Income [Line Items]
Total net investment income	24.4	23.7
Fixed maturity securities
Net Investment Income [Line Items]
Net investment income - investment portfolio	58	59.4
Equity securities
Net Investment Income [Line Items]
Net investment income - investment portfolio	1.1	1.2
Limited partnership interests
Net Investment Income [Line Items]
Net investment income - investment portfolio	11.3	(2.7)
Short-term and other investments
Net Investment Income [Line Items]
Net investment income - investment portfolio	$ 2.8	$ 2.9

Investments - Realized Investme

Investments - Realized Investment Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Gain (Loss) on Securities [Line Items]
Net investment losses	$ (9)	$ (18.5)
Fixed maturity securities
Gain (Loss) on Securities [Line Items]
Net investment losses	(5.4)	1.1
Equity securities
Gain (Loss) on Securities [Line Items]
Net investment losses	(2.7)	(14.7)
Short-term investments and other
Gain (Loss) on Securities [Line Items]
Net investment losses	$ (0.9)	$ (4.9)

Investments - Net Investment Ga

Investments - Net Investment Gains (Losses) By Transaction Type (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Credit loss impairments	$ (1.1)	$ 0
Intent-to-sell impairments	(2.1)	(3.7)
Total impairments on investments recognized in net income	(3.2)	(3.7)
Sales and other, net	(2.1)	4.5
Change in fair value - equity securities	(2.8)	(14.5)
Change in fair value and gains (losses) realized on settlements - derivatives	(0.9)	(4.8)
Net investment losses	(9)	$ (18.5)
Available-for-sale securities, allowance for credit losses	$ 1.1

Investments - Summary of Fair V

Investments - Summary of Fair Value and Amortized Costs (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost, net	$ 5,992.7	$ 5,788.6
Fair Value	6,356.3	6,345.3
FNMA
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	373.3	387.1
FHLMC
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	333.6	344.3
GNMA
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	125.7	132.3
Total Fixed Maturity Securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost, net	5,992.7	5,788.6
Gross Unrealized Gains	412.2	585.1
Gross Unrealized Losses	48.6	28.4
Fair Value	6,356.3	6,345.3
Mortgage-backed securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost, net	627.1	605.5
Gross Unrealized Gains	52.9	79.6
Gross Unrealized Losses	1.7	0.3
Fair Value	678.3	684.8
Other, including U.S. Treasury securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost, net	444.2	395
Gross Unrealized Gains	25.4	39.2
Gross Unrealized Losses	11.3	1
Fair Value	458.3	433.2
Municipal bonds
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost, net	1,609.9	1,612.3
Gross Unrealized Gains	161.7	215.7
Gross Unrealized Losses	3.5	0.5
Fair Value	1,768.1	1,827.5
Foreign government bonds
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost, net	40.1	40.2
Gross Unrealized Gains	4.4	4.9
Gross Unrealized Losses	0	0
Fair Value	44.5	45.1
Corporate bonds
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost, net	2,063.6	1,905.2
Gross Unrealized Gains	148.6	221.6
Gross Unrealized Losses	18	3.9
Fair Value	2,194.2	2,122.9
Other asset-backed securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost, net	1,207.8	1,230.4
Gross Unrealized Gains	19.2	24.1
Gross Unrealized Losses	14.1	22.7
Fair Value	$ 1,212.9	$ 1,231.8

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses (Details) $ in Millions	Mar. 31, 2021USD ($)security	Dec. 31, 2020USD ($)security
Fixed maturity securities, Fair Value
Number of positions with a gross unrealized loss, 12 Months or Less | security	548	308
Number of position with a gross unrealized loss, more than 12 months | security	200	123
Number of position with a gross unrealized loss, Total | security	748	431
Fair value as a percentage of total fixed maturities and equity securities fair value, 12 Months or Less	13.30%	8.90%
Fair value as a percentage of total fixed maturities and equity securities fair value, more than 12 months	6.50%	6.70%
Fair value as a percentage of total fixed maturities and equity securities fair value, Total	19.80%	15.60%
Mortgage-backed securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	$ 24	$ 4.9
Fixed maturity securities, Fair Value, More than 12 Months	3.1	2.6
Fixed maturity securities, Fair Value, Total	27.1	7.5
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	1.5	0.1
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	0.2	0.2
Fixed maturity securities, Gross Unrealized Losses, Total	1.7	0.3
Other
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	172.4	95.9
Fixed maturity securities, Fair Value, More than 12 Months	0	0
Fixed maturity securities, Fair Value, Total	172.4	95.9
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	11.3	1
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	0	0
Fixed maturity securities, Gross Unrealized Losses, Total	11.3	1
Municipal bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	126.5	18.1
Fixed maturity securities, Fair Value, More than 12 Months	5.4	0
Fixed maturity securities, Fair Value, Total	131.9	18.1
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	3.4	0.5
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	0.1	0
Fixed maturity securities, Gross Unrealized Losses, Total	3.5	0.5
Foreign government bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	0.5	0
Fixed maturity securities, Fair Value, More than 12 Months	0	0
Fixed maturity securities, Fair Value, Total	0.5	0
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	0	0
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	0	0
Fixed maturity securities, Gross Unrealized Losses, Total	0	0
Corporate bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	382.1	126.6
Fixed maturity securities, Fair Value, More than 12 Months	47.1	10.9
Fixed maturity securities, Fair Value, Total	429.2	137.5
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	16.4	3.7
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	1.6	0.2
Fixed maturity securities, Gross Unrealized Losses, Total	18	3.9
Other asset-backed securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	137.1	316.9
Fixed maturity securities, Fair Value, More than 12 Months	359.4	409.3
Fixed maturity securities, Fair Value, Total	496.5	726.2
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	1.3	17.2
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	12.8	5.5
Fixed maturity securities, Gross Unrealized Losses, Total	14.1	22.7
Total Fixed Maturity Securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	842.6	562.4
Fixed maturity securities, Fair Value, More than 12 Months	415	422.8
Fixed maturity securities, Fair Value, Total	1,257.6	985.2
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	33.9	22.5
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	14.7	5.9
Fixed maturity securities, Gross Unrealized Losses, Total	$ 48.6	$ 28.4

Investments - Distribution of F

Investments - Distribution of Fixed Maturity Securities by Expected Maturity (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Percent of Total Fair Value
Due in 1 year or less	4.10%	4.00%
Due after 1 year through 5 years	28.20%	28.30%
Due after 5 years through 10 years	28.30%	28.00%
Due after 10 years through 20 years	24.00%	24.60%
Due after 20 years	15.40%	15.10%
Total	100.00%	100.00%
Fair Value
Due in 1 year or less	$ 261.3
Due after 1 year through 5 years	1,789.8
Due after 5 years through 10 years	1,799.7
Due after 10 years through 20 years	1,523.5
Due after 20 years	982
Total	6,356.3	$ 6,345.3
Amortized Cost, net
Due in 1 year or less	255.5
Due after 1 year through 5 years	1,713.5
Due after 5 years through 10 years	1,669.5
Due after 10 years through 20 years	1,412.2
Due after 20 years	942
Amortized Cost, net	$ 5,992.7	$ 5,788.6
Average option-adjusted duration, in years	6 years 7 months 6 days	6 years 4 months 24 days

Investments - Summary of Procee

Investments - Summary of Proceeds and Gains (Losses) Realized on Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fixed maturity securities
Proceeds received	$ 95.5	$ 98.2
Gross gains realized	1.2	4.8
Gross losses realized	(3.4)	(0.3)
Equity Securities, FV-NI, Realized Gain (Loss) [Abstract]
Proceeds received	0.4	1.5
Gross gains realized	0.1	0.3
Gross losses realized	$ 0	$ (0.6)

Investments - Reconciliation of

Investments - Reconciliation of Net Unrealized Investment Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,790.1
Ending balance	1,692.9	$ 1,477.6
Net unrealized investment gains (losses) on securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	366.3	230.4
Ending balance	243.6	136.6
Net unrealized investment gains (losses) on securities | Fixed maturity securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	439.8	264.4
Change in net unrealized investment gains (losses) on fixed maturity securities	(159)	(103.8)
Reclassification of net investment (gains) losses on securities to net income	6.4	(10.7)
Ending balance	$ 287.2	$ 149.9

Investments - Carrying Amount o

Investments - Carrying Amount of Equity Method Limited Partnership Interests (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Limited partnership interests	$ 505.2	$ 449
Senior commercial mortgage loan funds
Schedule of Equity Method Investments [Line Items]
Limited partnership interests	197.3	149.6
Hedge funds
Schedule of Equity Method Investments [Line Items]
Limited partnership interests	62.6	63.2
Infrastructure debt funds
Schedule of Equity Method Investments [Line Items]
Limited partnership interests	58.4	58.3
Infrastructure equity funds
Schedule of Equity Method Investments [Line Items]
Limited partnership interests	56.2	52.1
Other
Schedule of Equity Method Investments [Line Items]
Limited partnership interests	$ 130.7	$ 125.8

Investments - Offsetting of Ass

Investments - Offsetting of Assets and Liabilities (Details) - Free-standing derivatives - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Asset derivatives:
Gross Amounts	$ 17.5	$ 16.8
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheets	17.5	16.8
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments	14.2	13.7
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	3.3	2.6
Net Amount	$ 0	$ 0.5

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Investment Holdings [Line Items]
Investment grade rating	91.80%
Debt securities, available-for-sale	$ 6,356.3	$ 6,345.3
FHLB funding agreements	774.5	644.5
FHLB of Chicago
Investment Holdings [Line Items]
Debt securities, available-for-sale	844.1	707.3
Governmental Agencies as Required by Law in Various States
Investment Holdings [Line Items]
Debt securities, available-for-sale	$ 26.6	$ 26.9

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of level 3 invested assets in total investment portfolio	5.10%
Net investment gains (losses) included in net income related to financial assets	$ 0	$ 0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net investment gains (losses) included in net income related to financial assets	$ 0	0
Net realized investment losses		$ 5,000,000

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Financial Instruments Measured and Carried at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Financial Assets
Debt securities, available-for-sale	$ 6,356.3	$ 6,345.3
Equity securities	140	121.6
Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	678.3	684.8
Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	458.3	433.2
Municipal bonds
Financial Assets
Debt securities, available-for-sale	1,768.1	1,827.5
Foreign government bonds
Financial Assets
Debt securities, available-for-sale	44.5	45.1
Corporate bonds
Financial Assets
Debt securities, available-for-sale	2,194.2	2,122.9
Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	1,212.9	1,231.8
Carrying Amount
Financial Assets
Equity securities	140	121.6
Short-term investments	101.8	141.8
Other investments	42.8	36.3
Totals	6,640.9	6,645
Separate Account (variable annuity) assets	3,052.9	2,891.4
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	2.7	2.5
Other policyholder funds, embedded derivatives	107.6	104.5
Carrying Amount | Recurring
Financial Assets
Debt securities, available-for-sale	6,356.3	6,345.3
Carrying Amount | Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	678.3	684.8
Carrying Amount | Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	458.3	433.1
Carrying Amount | Municipal bonds
Financial Assets
Debt securities, available-for-sale	1,768.1	1,827.5
Carrying Amount | Foreign government bonds
Financial Assets
Debt securities, available-for-sale	44.5	45.1
Carrying Amount | Corporate bonds
Financial Assets
Debt securities, available-for-sale	2,194.2	2,122.9
Carrying Amount | Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	1,212.9	1,231.9
Fair Value
Financial Assets
Equity securities	140	121.6
Short-term investments	101.8	141.8
Other investments	42.8	36.3
Totals	6,640.9	6,645
Separate Account (variable annuity) assets	3,052.9	2,891.4
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	2.7	2.5
Other policyholder funds, embedded derivatives	107.6	104.5
Fair Value | Recurring
Financial Assets
Debt securities, available-for-sale	6,356.3	6,345.3
Fair Value | Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	678.3	684.8
Fair Value | Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	458.3	433.1
Fair Value | Municipal bonds
Financial Assets
Debt securities, available-for-sale	1,768.1	1,827.5
Fair Value | Foreign government bonds
Financial Assets
Debt securities, available-for-sale	44.5	45.1
Fair Value | Corporate bonds
Financial Assets
Debt securities, available-for-sale	2,194.2	2,122.9
Fair Value | Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	1,212.9	1,231.9
Fair Value | Level 1
Financial Assets
Equity securities	38.1	39.2
Short-term investments	98.7	137.7
Other investments	0	0
Totals	178.3	210.1
Separate Account (variable annuity) assets	3,052.9	2,891.4
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	0	0
Other policyholder funds, embedded derivatives	0	0
Fair Value | Level 1 | Recurring
Financial Assets
Debt securities, available-for-sale	41.5	33.2
Fair Value | Level 1 | Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	0	0
Fair Value | Level 1 | Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	27.1	18.3
Fair Value | Level 1 | Municipal bonds
Financial Assets
Debt securities, available-for-sale	0	0
Fair Value | Level 1 | Foreign government bonds
Financial Assets
Debt securities, available-for-sale	0	0
Fair Value | Level 1 | Corporate bonds
Financial Assets
Debt securities, available-for-sale	14.4	14.9
Fair Value | Level 1 | Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	0	0
Fair Value | Level 2
Financial Assets
Equity securities	101.6	82.1
Short-term investments	3.1	4.1
Other investments	42.8	36.3
Totals	6,122.4	6,079.8
Separate Account (variable annuity) assets	0	0
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	2.7	2.5
Other policyholder funds, embedded derivatives	0	0
Fair Value | Level 2 | Recurring
Financial Assets
Debt securities, available-for-sale	5,974.9	5,957.3
Fair Value | Level 2 | Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	668	673.7
Fair Value | Level 2 | Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	431.2	414.8
Fair Value | Level 2 | Municipal bonds
Financial Assets
Debt securities, available-for-sale	1,709.5	1,767.9
Fair Value | Level 2 | Foreign government bonds
Financial Assets
Debt securities, available-for-sale	44.5	45.1
Fair Value | Level 2 | Corporate bonds
Financial Assets
Debt securities, available-for-sale	2,030.7	1,952.2
Fair Value | Level 2 | Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	1,091	1,103.6
Fair Value | Level 3
Financial Assets
Equity securities	0.3	0.3
Short-term investments	0	0
Other investments	0	0
Totals	340.2	355.1
Separate Account (variable annuity) assets	0	0
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	0	0
Other policyholder funds, embedded derivatives	107.6	104.5
Fair Value | Level 3 | Recurring
Financial Assets
Debt securities, available-for-sale	339.9	354.8
Fair Value | Level 3 | Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	10.3	11.1
Fair Value | Level 3 | Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	0	0
Fair Value | Level 3 | Municipal bonds
Financial Assets
Debt securities, available-for-sale	58.6	59.6
Fair Value | Level 3 | Foreign government bonds
Financial Assets
Debt securities, available-for-sale	0	0
Fair Value | Level 3 | Corporate bonds
Financial Assets
Debt securities, available-for-sale	149.1	155.8
Fair Value | Level 3 | Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	$ 121.9	$ 128.3

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Rollforward of Instruments Measured on Recurring Basis (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Financial Assets
Beginning balance	$ 355.1	$ 295.2
Transfers into Level 3	27.2	105.1
Transfers out of Level 3	(33.2)	(13)
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in OCI	(3.2)	(32.9)
Purchases	0	8.8
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(5.7)	(6)
Ending balance	340.2	357.2
Financial Liabilities
Beginning balance	104.5	93.7
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains or losses
Net investment (gains) losses included in net income related to financial liabilities	4.3	(5)
Net unrealized investment gains (losses) included in OCI	0	0
Purchases	0	0
Issuances	0.7	1.3
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(1.9)	(2.5)
Ending balance	107.6	87.5
Municipal bonds
Financial Assets
Beginning balance	59.6	44.3
Transfers into Level 3	0	63.7
Transfers out of Level 3	0	0
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in OCI	(0.9)	(3)
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(0.1)	(0.1)
Ending balance	58.6	104.9
Corporate bonds
Financial Assets
Beginning balance	155.8	104
Transfers into Level 3	24.1	18.9
Transfers out of Level 3	(27.3)	(10.1)
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in OCI	(2)	(5.5)
Purchases	0	6.9
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(1.5)	(2.5)
Ending balance	149.1	111.7
Mortgage and Asset Backed Securities
Financial Assets
Beginning balance	139.4	146.8
Transfers into Level 3	3.1	22.5
Transfers out of Level 3	(5.9)	(2.9)
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in OCI	(0.3)	(24.4)
Purchases	0	1.9
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(4.1)	(3.4)
Ending balance	132.2	140.5
Total Fixed Maturity Securities
Financial Assets
Beginning balance	354.8	295.1
Transfers into Level 3	27.2	105.1
Transfers out of Level 3	(33.2)	(13)
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in OCI	(3.2)	(32.9)
Purchases	0	8.8
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	(5.7)	(6)
Ending balance	339.9	357.1
Equity securities
Financial Assets
Beginning balance	0.3	0.1
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	0	0
Net unrealized investment gains (losses) included in OCI	0	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Paydowns, maturities and distributions	0	0
Ending balance	$ 0.3	$ 0.1

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Quantitative Information about Level 3 Fair Value Measurements (Details) $ in Millions	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, available-for-sale	$ 6,356.3	$ 6,345.3
Equity securities at fair value	140	121.6
Municipal bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, available-for-sale	1,768.1	1,827.5
Corporate bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, available-for-sale	2,194.2	2,122.9
Other asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, available-for-sale	1,212.9	1,231.8
Government mortgage-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, available-for-sale	678.3	$ 684.8
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded in fixed indexed annuity products	$ 107.6
Level 3 | discounted cash flow | lapse rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded in fixed indexed annuity products, measurement input	0.0530
Level 3 | discounted cash flow | mortality multiplier | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded in fixed indexed annuity products, measurement input	0.6300
Level 3 | discounted cash flow | option budget | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded in fixed indexed annuity products, measurement input	0.0090
Level 3 | discounted cash flow | option budget | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded in fixed indexed annuity products, measurement input	0.0250
Level 3 | discounted cash flow | non-performance adjustment | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded in fixed indexed annuity products, measurement input	0.0500
Level 3 | Black Scholes | equity value | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities, measurement input	0.3100
Level 3 | Black Scholes | equity value | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities, measurement input	0.4100
Level 3 | Municipal bonds | discounted cash flow | I Spread | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0307
Level 3 | Municipal bonds | discounted cash flow | I Spread | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0391
Level 3 | Corporate bonds | discounted cash flow | N Spread | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0272
Level 3 | Corporate bonds | discounted cash flow | N Spread | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0553
Level 3 | Corporate bonds | market comparable | option adjusted spread | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.1254
Level 3 | Other asset-backed securities | discounted cash flow | constant prepayment rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.2000
Level 3 | Other asset-backed securities | discounted cash flow | T spread | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0235
Level 3 | Other asset-backed securities | discounted cash flow | T spread | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0800
Level 3 | Other asset-backed securities | discounted cash flow | PDI interest margin | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0713
Level 3 | Other asset-backed securities | discounted cash flow | SBL interest margin | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0450
Level 3 | Other asset-backed securities | vendor price | haircut | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0300
Level 3 | Other asset-backed securities | vendor price | haircut | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0500
Level 3 | Government mortgage-backed securities | vendor price | haircut | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0300
Level 3 | Government mortgage-backed securities | vendor price | haircut | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, measurement input	0.0500

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Financial Instrument Not Carried at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Level 1
Investments
Other investments	$ 0	$ 0
Deposit asset on reinsurance	0	0
Financial Liabilities
Investment contract and policy reserves, fixed annuity contracts	0	0
Investment contract and policy reserves, account values on life contracts	0	0
Other policyholder funds	0	0
Short-term debt	0	0
Long-term debt	0	0
Level 2
Investments
Other investments	0	0
Deposit asset on reinsurance	0	0
Financial Liabilities
Investment contract and policy reserves, fixed annuity contracts	0	0
Investment contract and policy reserves, account values on life contracts	0	0
Other policyholder funds	720.7	590.7
Short-term debt	0	0
Long-term debt	331.5	331.1
Level 3
Investments
Other investments	170.8	172.1
Deposit asset on reinsurance	2,796.3	3,030.6
Financial Liabilities
Investment contract and policy reserves, fixed annuity contracts	4,995.1	4,963.3
Investment contract and policy reserves, account values on life contracts	109.4	108.4
Other policyholder funds	56.7	56.1
Short-term debt	135	135
Long-term debt	0	0
Carrying Amount
Investments
Other investments	167.1	168.3
Deposit asset on reinsurance	2,442.2	2,420.9
Financial Liabilities
Investment contract and policy reserves, fixed annuity contracts	4,876	4,847.6
Investment contract and policy reserves, account values on life contracts	99.9	98.7
Other policyholder funds	777.4	646.8
Short-term debt	135	135
Long-term debt	302.4	302.3
Fair Value
Investments
Other investments	170.8	172.1
Deposit asset on reinsurance	2,796.3	3,030.6
Financial Liabilities
Investment contract and policy reserves, fixed annuity contracts	4,995.1	4,963.3
Investment contract and policy reserves, account values on life contracts	109.4	108.4
Other policyholder funds	777.4	646.8
Short-term debt	135	135
Long-term debt	$ 331.5	$ 331.1

Deposit Asset on Reinsurance -

Deposit Asset on Reinsurance - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2019	Dec. 31, 2020	Apr. 01, 2019
Effects of Reinsurance [Line Items]
Reinsurance block of in-force fixed and variable annuity business			$ 2,900
Fixed annuity reserves reinsured on a coinsurance basis					$ 2,200
Separate account asset	$ 3,052.9			$ 2,891.4
Separate account liability	3,052.9			$ 2,891.4
Interest accrued on reinsurance deposit	24.4	$ 23.7
Reinsurance Contract Modified Coinsurance Basis
Effects of Reinsurance [Line Items]
Separate account asset	700
Separate account liability	$ 700
Reinsurance Deposit Receivable | Third Party Reinsurer Risk
Effects of Reinsurance [Line Items]
Concentration risk, percent			50.00%
Minimum
Effects of Reinsurance [Line Items]
Minimum crediting rating			4.50%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 43.5	$ 43.5
Property and Casualty
Goodwill [Line Items]
Goodwill	9.5
Supplemental
Goodwill [Line Items]
Goodwill	19.6
Retirement
Goodwill [Line Items]
Goodwill	4.5
Life
Goodwill [Line Items]
Goodwill	$ 9.9

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) $ in Millions	Mar. 31, 2021USD ($)
Benefit Consultants Group Inc.
Goodwill [Line Items]
Acquired finite-lived intangible assets	$ 14.1
NTA
Goodwill [Line Items]
Acquired finite-lived intangible assets	$ 160.4

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Finite-Lived Intangible Assets (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Finite-Lived Intangible Assets [Line Items]
At inception	$ 174.5
Accumulated amortization	(30.1)
Total	$ 144.4
Weighted Average useful Life (in Years)	23 years
Value of business acquired
Finite-Lived Intangible Assets [Line Items]
At inception	$ 94.4
Accumulated amortization	$ (12.6)
Weighted Average useful Life (in Years)	30 years
Value of distribution acquired
Finite-Lived Intangible Assets [Line Items]
At inception	$ 54
Accumulated amortization	$ (9.4)
Weighted Average useful Life (in Years)	17 years
Value of agency relationships
Finite-Lived Intangible Assets [Line Items]
At inception	$ 17
Accumulated amortization	$ (4.6)
Weighted Average useful Life (in Years)	14 years
Value of customer relationships
Finite-Lived Intangible Assets [Line Items]
At inception	$ 9.1
Accumulated amortization	$ (3.5)
Weighted Average useful Life (in Years)	10 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Future Amortization (Details) $ in Millions	Mar. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021 (excluding the three months ended March 31, 2021)	$ 9.8
2022	12.1
2023	11.2
2024	10.5
2025	9.8
Thereafter	91
Total	$ 144.4

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Summary of Indefinite-Lived Intangibles (Details) $ in Millions	Mar. 31, 2021USD ($)
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 10.8
Trade names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	7.9
State licenses
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 2.9

Unpaid Claims and Claim Expen_3

Unpaid Claims and Claim Expenses - Summary of Reinsurance Reserve Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Beginning gross reserves	$ 438.8
Claims and claim expense payments for claims occurring during:
Ending gross reserves	452.5
Benefits, claims and settlement expenses	134.3	$ 138.7
Property and Casualty
Segment Reporting Information [Line Items]
Beginning gross reserves	372.2	387
Less: reinsurance recoverables	112.9	120.5
Net reserves, beginning of period	259.3	266.5
Incurred claims and claim expenses:
Claims occurring in the current period	94.8	105.5
Decrease in estimated reserves for claims occurring in prior periods	0	(1)
Total claims and claim expenses incurred	94.8	104.5
Claims and claim expense payments for claims occurring during:
Current period	34.4	43.5
Prior periods	58.1	64.3
Total claims and claim expense payments	92.5	107.8
Ending gross reserves	374.1	382.2
Plus: reinsurance recoverables	112.5	119
Net reserves, end of period	261.6	263.2
Life and Annuity Segments
Claims and claim expense payments for claims occurring during:
Net reserves, end of period	78.4	56.2
Benefits, claims and settlement expenses	$ 39.5	$ 34.2

Unpaid Claims and Claim Expen_4

Unpaid Claims and Claim Expenses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Insurance Loss Reserves [Abstract]
Favorable development of total reserves for property and casualty claims occurring in prior years	$ 0	$ 1

Reinsurance - Summary of Reinsu

Reinsurance - Summary of Reinsurance Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Gross Amount
Premiums written and contract deposits, Gross Amount	$ 320.6	$ 333.7
Premiums and contract charges earned, Gross Amount	234.2	243.2
Benefits, claims and settlement expenses, Gross Amount	135.6	139.5
Ceded to Other Companies
Premiums written and contract deposits, Ceded to Other Companies	5.9	6.3
Premiums and contract charges earned, Ceded to Other Companies	8.4	8.4
Benefits, claims and settlement expenses, Ceded to Other Companies	2.5	1.9
Assumed from Other Companies
Premiums written and contract deposits, Assumed from Other Companies	1.5	1.4
Premiums and contract charges earned, Assumed from Other Companies	1.8	1.5
Benefits, claims and settlement expenses, Assumed from Other Companies	1.2	1.1
Net Amount
Premiums written and contract deposits, Net Amount	316.2	328.8
Premiums and contract charges earned, Net Amount	227.6	236.3
Benefits, claims and settlement expenses, Net Amount	$ 134.3	$ 138.7

Commitments (Details)

Commitments (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Unfunded commitments to purchase investments	$ 752.3	$ 571.9

Segment Information - Summary o

Segment Information - Summary of Segment Activity (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	5
Number of operating segments | segment	4
Summarized financial information for these segments
Insurance premiums and contract charges earned	$ 227.6	$ 236.3
Net investment income	95.5	82.3
Net income (loss)	39.3	18.5
Assets	13,745.5		$ 13,471.8
Intersegment eliminations
Summarized financial information for these segments
Net investment income	(0.6)	(0.5)
Assets	(65.8)		(90.1)
Property and Casualty
Summarized financial information for these segments
Insurance premiums and contract charges earned	155.8	166.5
Property and Casualty | Operating segments
Summarized financial information for these segments
Net investment income	10.8	10.3
Net income (loss)	27.9	26.6
Assets	1,298.9		1,324.9
Supplemental
Summarized financial information for these segments
Insurance premiums and contract charges earned	31.7	33
Assets	824.7		811.5
Supplemental | Operating segments
Summarized financial information for these segments
Net investment income	5.3	3.5
Net income (loss)	11.4	10.5
Retirement
Summarized financial information for these segments
Insurance premiums and contract charges earned	8.6	7.4
Retirement | Operating segments
Summarized financial information for these segments
Net investment income	60.4	53.5
Net income (loss)	10.6	(0.9)
Assets	9,455.6		9,198.7
Life
Summarized financial information for these segments
Insurance premiums and contract charges earned	31.5	29.4
Life | Operating segments
Summarized financial information for these segments
Net investment income	19.6	15.6
Net income (loss)	0.7	0.6
Assets	2,069		2,044.5
Corporate and Other
Summarized financial information for these segments
Net investment income	0	(0.1)
Net income (loss)	(11.3)	$ (18.3)
Assets	$ 163.1		$ 182.3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,790.1
Other comprehensive income (loss) before reclassifications	(129.1)	$ (104.5)
Amounts reclassified from AOCI	6.4	10.7
Other comprehensive income (loss)	(122.7)	(93.8)
Ending balance	1,692.9	1,477.6
Pretax reclassification amounts from AOCI, tax	(1.7)	(2.9)
Net Unrealized Investment Gains (Losses) on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	366.3	230.4
Other comprehensive income (loss) before reclassifications	(129.1)	(104.5)
Amounts reclassified from AOCI	6.4	10.7
Other comprehensive income (loss)	(122.7)	(93.8)
Ending balance	243.6	136.6
Pretax reclassification amounts from accumulated other comprehensive income (loss)	(8.1)	(13.6)
Net Funded Status of Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(11.2)	(10.7)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from AOCI	0	0
Other comprehensive income (loss)	0	0
Ending balance	(11.2)	(10.7)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	355.1	219.7
Ending balance	$ 232.4	$ 125.9

Supplemental Consolidated Cas_3

Supplemental Consolidated Cash and Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash	$ 38.3		$ 21.8
Restricted cash	1.1		0.5
Total cash and restricted cash reported in the Consolidated Balance Sheets	39.4	$ 41.2	$ 22.3	$ 25.5
Cash paid (recovered) during the three months for interest	0.6	1.4
Cash paid (recovered) during the three months for income taxes	$ (0.1)	$ (0.7)