Horace Mann Educators (HMN) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 31, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		41,487,550
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000850141
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Investments
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2021, $6,045.6; 2020, $5,788.6)	$ 6,512	$ 6,345.3
Equity securities at fair value	152.3	121.6
Limited partnership interests	615.4	449
Short-term and other investments	251.6	346.3
Total investments	7,531.3	7,262.2
Cash	40.2	22.3
Deferred policy acquisition costs	244.7	229.8
Deposit asset on reinsurance	2,477.9	2,420.9
Intangible assets	148.7	158.5
Goodwill	43.5	43.5
Other assets	451.9	443.2
Separate Account (variable annuity) assets	3,326.8	2,891.4
Total assets	14,265	13,471.8
Policy liabilities
Investment contract and policy reserves	6,569	6,445.3
Unpaid claims and claim expenses	440.1	438.8
Unearned premiums	261.4	264.5
Total policy liabilities	7,270.5	7,148.6
Other policyholder funds	994.3	751.3
Other liabilities	488.4	453.1
Short-term debt	135	135
Long-term debt	253.6	302.3
Separate Account (variable annuity) liabilities	3,326.8	2,891.4
Total liabilities	12,468.6	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, 66,434,551; 2020, 66,316,797	0.1	0.1
Additional paid-in capital	492.9	488.4
Retained earnings	1,497.5	1,434.6
Accumulated other comprehensive income (loss), net of tax:
Net unrealized investment gains on fixed maturity securities	306.9	366.3
Net funded status of benefit plans	(11.2)	(11.2)
Treasury stock, at cost, 2021, 24,947,264 shares; 2020, 24,902,579 shares	(489.8)	(488.1)
Total shareholders’ equity	1,796.4	1,790.1
Total liabilities and shareholders’ equity	$ 14,265	$ 13,471.8

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Fixed maturities, available for sale, amortized cost	$ 6,045.6	$ 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)	66,434,551	66,316,797
Treasury stock (in shares)	24,947,264	24,902,579

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues
Premiums and contract charges earned	$ 225.4	$ 235.3	$ 678.8	$ 697
Net investment income	103.7	93.7	308.4	256.4
Net investment (losses) gains	(6.5)	2.5	(10.6)	(12.8)
Other income	7	5.6	22.1	17.5
Total revenues	329.6	337.1	998.7	958.1
Benefits, losses and expenses
Benefits, claims and settlement expenses	164.8	151.4	446.2	433.1
Interest credited	51.9	51.1	153.7	153.3
Operating expenses	64.3	57.9	182.8	173.1
DAC unlocking and amortization expense	22.9	24.6	70.5	75
Intangible asset amortization expense	3.3	3.5	9.8	10.9
Interest expense	3.4	3.5	10.4	11.7
Total benefits, losses and expenses	310.6	292	873.4	857.1
Income before income taxes	19	45.1	125.3	101
Income tax expense	2.7	8.6	23	15.5
Net income	$ 16.3	$ 36.5	$ 102.3	$ 85.5
Net income per share
Basic (in usd per share)	$ 0.39	$ 0.87	$ 2.44	$ 2.04
Diluted (in usd per share)	$ 0.39	$ 0.87	$ 2.43	$ 2.03
Weighted average number of shares and equivalent shares
Basic (in shares)	42	41.9	42	41.9
Diluted (in shares)	42.2	42.1	42.2	42
Net income	$ 16.3	$ 36.5	$ 102.3	$ 85.5
Other comprehensive (loss) income, net of tax:
Change in net unrealized investment gains (losses) on fixed maturity securities	(25.3)	49.1	(59.4)	97.8
Change in net funded status of benefit plans	0	0	0	0
Other comprehensive (loss) income	(25.3)	49.1	(59.4)	97.8
Comprehensive (loss) income	$ (9)	$ 85.6	$ 42.9	$ 183.3

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
Beginning balance at Dec. 31, 2019		$ 0.1	$ 481	$ 1,352.5	$ 219.7	$ (485.9)	$ (0.5)
Increase (Decrease) in Stockholders' Equity
Options exercised and conversion of common stock units and restricted stock units			1.6
Share-based compensation expense			4.2
Net income	$ 85.5			85.5
Dividends, 2021, $0.31, $0.93 per share; 2020, $0.30, $0.90 per share				(38)
Change in net unrealized investment gains (losses) on fixed maturity securities					97.8
Acquisition of shares	(2.2)
Ending balance at Sep. 30, 2020	1,715.8	0.1	486.8	1,399.5	317.5	(488.1)
Beginning balance at Jun. 30, 2020		0.1	483.8	1,375.7	268.4	(488.1)
Increase (Decrease) in Stockholders' Equity
Options exercised and conversion of common stock units and restricted stock units			1.3
Share-based compensation expense			1.7
Net income	36.5			36.5
Dividends, 2021, $0.31, $0.93 per share; 2020, $0.30, $0.90 per share				(12.7)
Change in net unrealized investment gains (losses) on fixed maturity securities					49.1
Ending balance at Sep. 30, 2020	1,715.8	0.1	486.8	1,399.5	317.5	(488.1)
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
Options exercised and conversion of common stock units and restricted stock units			(1)
Share-based compensation expense			5.5
Net income	102.3			102.3
Dividends, 2021, $0.31, $0.93 per share; 2020, $0.30, $0.90 per share				(39.4)
Change in net unrealized investment gains (losses) on fixed maturity securities					(59.4)
Acquisition of shares	(1.7)
Ending balance at Sep. 30, 2021	1,796.4	0.1	492.9	1,497.5	295.7	(489.8)
Beginning balance at Jun. 30, 2021		0.1	490.7	1,494.4	321	(489.6)
Increase (Decrease) in Stockholders' Equity
Options exercised and conversion of common stock units and restricted stock units			0.2
Share-based compensation expense			2
Net income	16.3			16.3
Dividends, 2021, $0.31, $0.93 per share; 2020, $0.30, $0.90 per share				(13.2)
Change in net unrealized investment gains (losses) on fixed maturity securities					(25.3)
Acquisition of shares	(0.2)
Ending balance at Sep. 30, 2021	$ 1,796.4	$ 0.1	$ 492.9	$ 1,497.5	$ 295.7	$ (489.8)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in usd per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Cash dividends (in usd per share)	$ 0.31	$ 0.30	$ 0.93	$ 0.90

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows - operating activities
Net income	$ 102.3	$ 85.5
Adjustments to reconcile net income to net cash provided by operating activities:
Net investment losses	10.6	12.8
Amortization of premiums and accretion of discounts on fixed maturity securities, net	3.3	4.9
Depreciation and intangible asset amortization	16.7	17.5
Share-based compensation expense	6	4.6
Changes in:
Accrued investment income	(8.1)	(5.5)
Insurance liabilities	75.1	97.9
Premium receivables	(3.4)	4.1
Deferred policy acquisition costs	(0.1)	(2.5)
Reinsurance recoverables	(1.6)	3.3
Income tax liabilities	2.3	(3.4)
Other operating assets and liabilities	2.5	44.3
Other	(27.5)	4.3
Net cash provided by operating activities	178.1	267.8
Fixed maturity securities
Purchases	(1,228.1)	(1,093.9)
Sales	319.2	352.8
Maturities, paydowns, calls and redemptions	631.5	525.3
Equity securities
Purchases	(45)	(23.2)
Sales and repayments	1	12.4
Limited partnership interests
Purchases	(202.1)	(59.9)
Sales	69.4	14.6
Change in short-term and other investments, net	103.1	(96.9)
Net cash used in investing activities	(351)	(368.8)
Cash flows - financing activities
Dividends paid to shareholders	(38.6)	(37.2)
FHLB borrowings	1	4
Principal repayment on FHLB borrowings	(50)	0
Acquisition of treasury stock	(1.7)	(2.2)
Proceeds from exercise of stock options	0.3	2.4
Withholding tax payments on RSUs tendered	(2)	(2)
Annuity contracts: variable, fixed and FHLB funding agreements:
Deposits	833.2	462.2
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets	(342.1)	(284.4)
Principal Repayment On Federal Home Loan Bank Funding Agreements	(204)	0
Life policy accounts:
Deposits	6.7	6.8
Withdrawals and surrenders	(3)	(2.9)
Change in deposit asset on reinsurance	(17.2)	(14.8)
Change in book overdrafts	8.2	9.1
Net cash provided by financing activities	190.8	141
Net increase in cash	17.9	40
Cash at beginning of period	22.3	25.5
Cash at end of period	$ 40.2	$ 65.5

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	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 and nine months ended September 30, 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 reporting 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).

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions	AcquisitionsOn July 14, 2021, the Company announced that it entered into a Stock Purchase Agreement (Agreement), by and among the Company and Independence Capital Corp. and Independence Holding Company (Seller) to acquire all the equity interests in Madison National Life Insurance Company, Inc., an insurance company organized under the laws of the State of Wisconsin (Madison National). The Agreement provides, among other things, that, upon the terms and subject to the conditions set forth in the Agreement, the Company will acquire all the equity interests in Madison National (Acquisition) for $172.5 million. The Seller will have a potential earn-out of up to $12.5 million payable in cash, if specified financial targets are achieved by the end of 2023. The Agreement and the consummation of the transactions contemplated by the Agreement have been approved by the Company’s Board of Directors. The Company has cleared the anti-trust review and the closing of the Acquisition is expected to occur early during the first quarter of 2022, subject to the satisfaction or waiver of applicable closing conditions as well as approval by certain regulators.

Investments

Investments	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Net Investment Income The components of net investment income for the following periods were as follows: ($ in millions) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Fixed maturity securities $ 59.8 $ 56.4 $ 177.2 $ 174.7 Equity securities 1.4 1.1 3.8 3.5 Limited partnership interests 16.8 11.1 51.1 4.9 Short-term and other investments 2.8 2.7 8.5 8.4 Investment expenses (2.7) (2.1) (7.3) (7.2) Net investment income - investment portfolio 78.1 69.2 233.3 184.3 Investment income - deposit asset on reinsurance 25.6 24.5 75.1 72.1 Total net investment income $ 103.7 $ 93.7 $ 308.4 $ 256.4 Net Investment (Losses) Gains Net investment (losses) gains for the following periods were as follows: ($ in millions) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Fixed maturity securities $ (4.0) $ 2.7 $ (7.9) $ 3.1 Equity securities (1.0) 4.0 0.7 (3.6) Short-term investments and other (1.5) (4.2) (3.4) (12.3) Net investment (losses) gains $ (6.5) $ 2.5 $ (10.6) $ (12.8) The Company, from time to time, sells fixed maturity securities 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 to sell a fixed maturity security. 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 (Losses) Gains by Transaction Type The following table reconciles net investment (losses) gains by transaction type: ($ in millions) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Credit loss impairments (1) $ (6.6) $ — $ (7.7) $ — Intent-to-sell impairments — (1.1) (2.1) (5.3) Total impairments on investments recognized in net income (6.6) (1.1) (9.8) (5.3) Sales and other, net 2.7 3.7 2.2 8.6 Change in fair value - equity securities (1.1) 2.3 0.4 (5.6) Change in fair value and losses realized on settlements - derivatives (1.5) (2.4) (3.4) (10.5) Net investment (losses) gains $ (6.5) $ 2.5 $ (10.6) $ (12.8) (1) For the nine months ended September 30, 2021, the Company recognized a valuation allowance of $7.7 million for credit loss impairments with respect to fixed maturity securities available for sale. Allowance for Credit Loss Impairments on Fixed Maturity Securities The following table presents changes in the allowance for credit loss impairments on fixed maturity securities classified as available for sale for the category of other asset-backed securities (no other categories of fixed maturity securities have an allowance for credit loss impairments): ($ in millions) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Beginning balance $ 1.1 $ — $ — $ — Credit losses on fixed maturity securities for which credit losses were not previously reported 6.6 — 7.7 — Net (increases) decreases related to credit losses previously reported — — — — Reduction of credit allowances related to sales — — — — Write-offs — — — — Ending balance $ 7.7 $ — $ 7.7 $ — 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 September 30, 2021 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 636.2 $ 58.3 $ 1.0 $ 693.5 Other, including U.S. Treasury securities 385.7 28.8 5.6 408.9 Municipal bonds 1,592.5 184.1 1.1 1,775.5 Foreign government bonds 40.2 3.8 — 44.0 Corporate bonds 2,268.8 189.4 6.6 2,451.6 Other asset-backed securities 1,122.2 21.1 4.8 1,138.5 Totals $ 6,045.6 $ 485.5 $ 19.1 $ 6,512.0 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 $394.9 million and $387.1 million; Federal Home Loan Mortgage Corporation (FHLMC) of $337.8 million and $344.3 million; and Government National Mortgage Association (GNMA) of $118.2 million and $132.3 million as of September 30, 2021 and December 31, 2020, respectively. The following table presents the fair value and gross unrealized losses for fixed maturity securities in an unrealized loss position at September 30, 2021 and December 31, 2020, respectively. The Company views the decrease in fair value of all of the fixed maturity securities with unrealized losses at September 30, 2021 — which was driven largely by increasing interest rates, spread widening, financial market illiquidity and/or market volatility from the date of acquisition — as temporary. As of September 30, 2021, the Company has not made the decision to sell and it is not more likely than not the Company will be required to sell the fixed maturity securities with unrealized losses before an anticipated recovery in value. Therefore, it was determined that the unrealized losses on the fixed maturity securities presented in the table below were not indicative of any impairments as of September 30, 2021. ($ in millions) 12 Months or Less More than 12 Months Total Fair Value Gross Fair Value Gross Fair Value Gross September 30, 2021 Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 69.5 $ 0.9 $ 2.1 $ 0.1 $ 71.6 $ 1.0 Other 106.1 4.4 15.0 1.2 121.1 5.6 Municipal bonds 52.2 1.0 1.4 0.1 53.6 1.1 Foreign government bonds — — — — — — Corporate bonds 214.1 5.3 36.1 1.3 250.2 6.6 Other asset-backed securities 187.6 1.1 205.4 3.7 393.0 4.8 Total $ 629.5 $ 12.7 $ 260.0 $ 6.4 $ 889.5 $ 19.1 Number of positions with a gross unrealized loss 401 129 530 Fair value as a percentage of total fixed maturity securities at fair value 9.7 % 4.0 % 13.7 % 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 86.7% of the gross unrealized losses as of September 30, 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 September 30, 2021 September 30, 2021 December 31, 2020 Fair Amortized Estimated expected maturity: Due in 1 year or less 4.0 % 4.0 % $ 260.5 $ 253.7 Due after 1 year through 5 years 26.2 % 28.3 % 1,703.6 1,620.1 Due after 5 years through 10 years 28.1 % 28.0 % 1,830.4 1,685.7 Due after 10 years through 20 years 23.9 % 24.6 % 1,559.5 1,411.2 Due after 20 years 17.8 % 15.1 % 1,158.0 1,074.9 Total 100.0 % 100.0 % $ 6,512.0 $ 6,045.6 Average option-adjusted duration, in years 6.8 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 Nine Months Ended 2021 2020 2021 2020 Fixed maturity securities Proceeds received $ 155.4 $ 58.6 $ 319.2 $ 352.8 Gross gains realized 3.2 3.7 6.2 14.0 Gross losses realized (0.7) — (4.3) (5.9) Equity securities Proceeds received $ 0.3 $ 0.3 $ 1.0 $ 12.4 Gross gains realized 0.1 0.1 0.3 2.1 Gross losses realized — — — (1.8) 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 Nine Months Ended 2021 2020 2021 2020 Net unrealized investment gains (losses) Beginning of period $ 399.4 $ 329.9 $ 439.8 $ 264.4 Change in net unrealized investment gains (34.9) 56.9 (77.0) 128.1 Reclassification of net investment (gains) losses 3.9 5.2 5.6 (0.5) End of period $ 368.4 $ 392.0 $ 368.4 $ 392.0 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, infrastructure debt funds, infrastructure equity funds, hedge 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) September 30, 2021 December 31, 2020 Senior commercial mortgage loan funds $ 265.8 $ 149.6 Infrastructure debt funds 62.7 58.3 Infrastructure equity funds 59.1 52.1 Hedge funds 51.1 63.2 Other funds (1) 176.7 125.8 Total $ 615.4 $ 449.0 (1) Other funds consist primarily of limited partnership interests in private equity, real estate equity 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. Information regarding the Company's derivatives is contained in Part II - Item 8, Note 4 in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. 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 September 30, 2021 Asset derivatives: Free-standing derivatives $ 10.6 $ — $ 10.6 $ 9.8 $ 3.5 $ (2.7) December 31, 2020 Asset derivatives: Free-standing derivatives $ 16.8 $ — $ 16.8 $ 13.7 $ 2.6 $ 0.5 Deposits At September 30, 2021 and December 31, 2020, fixed maturity securities with a fair value of $26.4 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 September 30, 2021 and December 31, 2020, fixed maturity securities with a fair value of $923.6 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 $837.5 million at September 30, 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	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	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) and equity method limited partnership interests 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 financial assets and financial liabilities measured and carried at fair value on a recurring basis. During the nine months ended September 30, 2021 and 2020, there were no transfers between Level 1 and Level 2. At September 30, 2021, Level 3 invested assets comprised 5.4% of the Company’s total investment portfolio at fair value. ($ in millions) Carrying Fair Fair Value Measurements at Level 1 Level 2 Level 3 September 30, 2021 Financial Assets Investments Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 693.5 $ 693.5 $ — $ 693.5 $ — Other, including U.S. Treasury securities 408.9 408.9 17.9 391.0 — Municipal bonds 1,775.5 1,775.5 — 1,717.3 58.2 Foreign government bonds 44.0 44.0 — 44.0 — Corporate bonds 2,451.6 2,451.6 14.5 2,232.1 205.0 Other asset-backed securities 1,138.5 1,138.5 — 1,040.0 98.5 Total fixed maturity securities 6,512.0 6,512.0 32.4 6,117.9 361.7 Equity securities 152.3 152.3 39.3 112.6 0.4 Short-term investments 52.3 52.3 36.1 16.2 — Other investments 43.2 43.2 — 43.2 — Totals $ 6,759.8 $ 6,759.8 $ 107.8 $ 6,289.9 $ 362.1 Separate Account (variable annuity) assets (1) $ 3,326.8 $ 3,326.8 $ 3,326.8 $ — $ — Financial Liabilities Investment contract and policy reserves, embedded derivatives $ 2.3 $ 2.3 $ — $ 2.3 $ — Other policyholder funds, embedded derivatives $ 106.7 $ 106.7 $ — $ — $ 106.7 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 433.2 433.2 18.4 414.8 — 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 1,231.8 1,231.8 — 1,103.5 128.3 Total fixed maturity securities 6,345.3 6,345.3 33.3 5,957.2 354.8 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 $ 210.2 $ 6,079.7 $ 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) were as follows: ($ in millions) Financial Assets Financial Liabilities (1) Municipal Corporate Mortgage-Backed and Other Asset- Backed Securities (2) Total Equity Total Beginning balance, July 1, 2021 $ 58.6 $ 150.5 $ 115.5 $ 324.6 $ 0.3 $ 324.9 $ 108.9 Transfers into Level 3 (3) — 55.7 4.0 59.7 — 59.7 — Transfers out of Level 3 (3) — — — — — — — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — (6.6) (6.6) 0.1 (6.5) — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 0.7 Net unrealized investment gains (losses) included in OCI (0.3) (0.1) 6.6 6.2 — 6.2 — Purchases — — — — — — — Issuances — — — — — — 1.4 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.1) (1.1) (21.0) (22.2) — (22.2) (4.3) Ending balance, September 30, 2021 $ 58.2 $ 205.0 $ 98.5 $ 361.7 $ 0.4 $ 362.1 $ 106.7 Beginning balance, January 1, 2021 $ 59.6 $ 155.8 $ 139.4 $ 354.8 $ 0.3 $ 355.1 $ 104.5 Transfers into Level 3 (3) — 108.3 10.2 118.5 — 118.5 — Transfers out of Level 3 (3) — (56.7) (19.2) (75.9) — (75.9) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — (7.7) (7.7) 0.1 (7.6) — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 8.2 Net unrealized investment gains (losses) included in OCI (0.9) 1.0 8.7 8.8 — 8.8 — Purchases — — — — — — — Issuances — — — — — — 3.3 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.5) (3.4) (32.9) (36.8) — (36.8) (9.3) Ending balance, September 30, 2021 $ 58.2 $ 205.0 $ 98.5 $ 361.7 $ 0.4 $ 362.1 $ 106.7 (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 and nine months ended September 30, 2021 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. ($ in millions) Financial Assets Financial (1) Municipal Corporate Mortgage-Backed and Other Asset- Backed Securities (2) Total Equity Total Beginning balance, July 1, 2020 $ 73.2 $ 126.3 $ 200.1 $ 399.6 $ 0.1 $ 399.7 $ 93.6 Transfers into Level 3 (3) 6.2 6.8 8.7 21.7 — 21.7 — Transfers out of Level 3 (3) (16.7) (12.5) (71.0) (100.2) — (100.2) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — (0.3) (0.3) — (0.3) — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 4.4 Net unrealized investment gains (losses) included in OCI 3.2 0.5 6.3 10.0 — 10.0 — Purchases — — — — — — — Issuances — — — — — — 2.0 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.2) 0.1 (3.1) (3.2) — (3.2) (1.9) Ending balance, September 30, 2020 $ 65.7 $ 121.2 $ 140.7 $ 327.6 $ 0.1 $ 327.7 $ 98.1 Beginning balance, January 1, 2020 $ 44.3 $ 104.0 $ 146.8 $ 295.1 $ 0.1 $ 295.2 $ 93.7 Transfers into Level 3 (3) 80.7 39.6 95.4 215.7 — 215.7 — Transfers out of Level 3 (3) (62.6) (26.7) (77.4) (166.7) — (166.7) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — (0.3) (0.3) — (0.3) — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 5.3 Net unrealized investment gains (losses) included in OCI 4.0 0.3 (14.8) (10.5) — (10.5) — Purchases — 6.9 1.9 8.8 — 8.8 — Issuances — — — — — — 5.9 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.7) (2.9) (10.9) (14.5) — (14.5) (6.8) Ending balance, September 30, 2020 $ 65.7 $ 121.2 $ 140.7 $ 327.6 $ 0.1 $ 327.7 $ 98.1 (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 and nine months ended September 30, 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 and nine months ended September 30, 2021, the Company had net investment losses of $6.5 million and $7.6 million, respectively, that were included in net income and were primarily attributable to credit loss impairments for Level 3 financial assets; for both the three and nine months ended September 30, 2020, the Company had $0.3 million of net investment losses on Level 3 financial assets, respectively, that were included in net income. For the three and nine months ended September 30, 2021, the Company had net investment losses of $0.7 million and $8.2 million, respectively, that were included in net income and were attributable to changes in the fair value of Level 3 financial liabilities; for the three and nine months ended September 30, 2020, the respective net investment losses were $4.4 million and $5.3 million. Quantitative Information about Level 3 Fair Value Measurements The following table provides quantitative information about the significant unobservable inputs for recurring fair value measurements categorized within Level 3. ($ in millions) Financial Fair Value at September 30, 2021 Valuation Technique(s) Unobservable Inputs Range (Weighted Average) and Single Point Best Estimate (1) Municipal bonds $ 58.2 discounted cash flow I spread (2) 307 - 391 bps Corporate bonds 205.0 discounted cash flow N spread (3) 272 - 553 bps market comparable option adjusted spread 12.54% Other asset-backed securities 98.5 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% Equity securities 0.4 Black Scholes equity value low - 28.00%; high - 35.00% ($ in millions) Financial Fair Value at September 30, 2021 Valuation Technique(s) Unobservable Inputs Range (Weighted Average) and Single Point Best Estimate (1) Derivatives $ 106.7 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 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) Carrying Fair Fair Value Measurements at Level 1 Level 2 Level 3 September 30, 2021 Financial Assets Other investments $ 156.2 $ 159.8 $ — $ — $ 159.8 Deposit asset on reinsurance 2,477.9 2,945.0 — — 2,945.0 Financial Liabilities Investment contract and policy reserves, fixed annuity contracts 4,942.5 5,063.0 — — 5,063.0 Investment contract and policy reserves, account values on life contracts 103.2 112.6 — — 112.6 Other policyholder funds 887.6 887.6 — 832.7 54.9 Short-term debt 135.0 135.0 — — 135.0 Long-term debt 253.6 282.1 — 282.1 — 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	9 Months Ended
	Sep. 30, 2021
Reinsurance Disclosures [Abstract]
Deposit Asset on Reinsurance	Deposit Asset on Reinsurance The Company reinsures a $3.2 billion block of in force fixed and variable annuity business with a minimum crediting rate of 4.5%. The reinsured fixed business represents 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. Under the annuity reinsurance agreement, approximately $2.4 billion of fixed annuity reserves are reinsured on a coinsurance basis. The separate account assets and liabilities of approximately $0.8 billion are 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 annuity 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 $25.6 million and $75.1 million for the three and nine months ended September 30, 2021, respectively. Interest accreted on the Deposit asset on reinsurance was $24.5 million and $72.1 million for the three and nine months ended September 30, 2020, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	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 September 30, 2021. The carrying amount of goodwill by reporting unit as of September 30, 2021 was as follows: ($ in millions) September 30, 2021 Property and Casualty $ 9.5 Supplemental 19.6 Retirement 4.5 Life 9.9 Total $ 43.5 As of September 30, 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 $160.4 million. As of September 30, 2021 the outstanding amounts of definite-lived intangible assets subject to amortization were as follows: ($ 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 (15.9) Value of distribution acquired (10.9) Value of agency relationships (5.7) Value of customer relationships (4.1) Total (36.6) Net intangible assets subject to amortization: $ 137.9 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 nine months ended September 30, 2021) $ 3.2 2022 12.1 2023 11.2 2024 10.5 2025 9.8 Thereafter 91.1 Total $ 137.9 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 September 30, 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	9 Months Ended
	Sep. 30, 2021
Insurance Loss Reserves [Abstract]
Unpaid Claims and Claim Expenses	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 Nine Months Ended 2021 2020 2021 2020 Property and Casualty Beginning gross reserves (1) $ 368.4 $ 388.5 $ 372.2 $ 387.0 Less: reinsurance recoverables 108.9 116.1 112.9 120.5 Net reserves, beginning of period (2) 259.5 272.4 259.3 266.5 Incurred claims and claim expenses: Claims occurring in the current period 132.5 125.6 345.4 340.2 Decrease in estimated reserves for claims occurring in prior periods (3) (3.0) (7.2) (7.2) (9.2) Total claims and claim expenses incurred (4) 129.5 118.4 338.2 331.0 Claims and claim expense payments for claims occurring during: Current period 96.8 91.0 210.3 195.9 Prior periods 26.4 19.3 121.4 121.1 Total claims and claim expense payments 123.2 110.3 331.7 317.0 Net reserves, end of period (2) 265.8 280.5 265.8 280.5 Plus: reinsurance recoverables 109.6 114.8 109.6 114.8 Ending gross reserves (1) $ 375.4 $ 395.3 $ 375.4 $ 395.3 (1) Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Supplemental, Retirement and Life of $64.7 million and $59.2 million as of September 30, 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 $35.3 million and $108.0 million for the three and nine months ended September 30, 2021, respectively, in addition to Property and Casualty amounts. Benefits, claims and settlement expenses as reported in the Consolidate Statements of Operations also include amounts for Supplemental, Retirement and Life of $33.0 million and $102.1 million for the three and nine months ended September 30, 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 $7.2 million and $9.2 million for the nine months ended September 30, 2021 and 2020, respectively. The favorable development for the nine months ended September 30, 2021 was the result of favorable loss trends in automobile and homeowners loss emergence for accident years 2020 and prior. The favorable development for the nine months ended September 30, 2020 was the result of favorable loss trends in automobile and homeowners loss emergence for accident years 2019 and prior; including $5.2 million of subrogation received largely related to the 2018 Camp Fire in California.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2021
Insurance [Abstract]
Reinsurance	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 September 30, 2021 Premiums written and contract deposits (2) $ 366.0 $ 5.5 $ 2.6 $ 363.1 Premiums and contract charges earned 230.9 8.1 2.6 225.4 Benefits, claims and settlement expenses 164.5 1.5 1.8 164.8 Three months ended September 30, 2020 Premiums written and contract deposits (2) $ 368.6 $ 2.1 $ 2.4 $ 368.9 Premiums and contract charges earned 237.1 4.2 2.4 235.3 Benefits, claims and settlement expenses 59.4 (90.1) 1.9 151.4 Nine months ended September 30, 2021 Premiums written and contract deposits (2) $ 1,037.8 $ 17.0 $ 6.6 $ 1,027.4 Premiums and contract charges earned 696.6 24.6 6.8 678.8 Benefits, claims and settlement expenses 444.7 3.0 4.5 446.2 Nine months ended September 30, 2020 Premiums written and contract deposits (2) $ 1,034.7 $ 14.8 $ 6.9 $ 1,026.8 Premiums and contract charges earned 710.9 20.9 7.0 697.0 Benefits, claims and settlement expenses 342.2 (85.8) 5.1 433.1 (1) Excludes the annuity reinsurance transaction accounted for using the deposit method that is discussed in Note 5. (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	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments Investment Commitments The Company has outstanding commitments to fund investments primarily in limited partnership interests. Such unfunded commitments were $911.4 million and $571.9 million as of September 30, 2021 and December 31, 2020, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	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 of 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 Nine Months Ended 2021 2020 2021 2020 Premiums and contract charges earned Property and Casualty $ 153.3 $ 166.0 $ 464.1 $ 488.7 Supplemental 31.0 32.5 94.3 98.8 Retirement 9.9 7.4 27.7 21.5 Life 31.2 29.4 92.7 88.0 Total $ 225.4 $ 235.3 $ 678.8 $ 697.0 Net investment income Property and Casualty $ 11.3 $ 13.7 $ 43.8 $ 30.3 Supplemental 7.1 4.3 18.7 11.8 Retirement 64.8 58.1 187.2 166.7 Life 21.1 18.2 60.5 49.4 Corporate and Other — — (0.1) (0.1) Intersegment eliminations (0.6) (0.6) (1.7) (1.7) Total $ 103.7 $ 93.7 $ 308.4 $ 256.4 Net income (loss) Property and Casualty $ (4.7) $ 15.8 $ 42.5 $ 53.7 Supplemental 11.4 10.6 34.8 30.6 Retirement 14.1 7.8 36.2 16.6 Life 5.1 4.3 10.8 6.8 Corporate and Other (9.6) (2.0) (22.0) (22.2) Total $ 16.3 $ 36.5 $ 102.3 $ 85.5 ($ in millions) September 30, 2021 December 31, 2020 Assets Property and Casualty $ 1,269.0 $ 1,324.9 Supplemental 863.8 811.5 Retirement 9,893.4 9,198.7 Life 2,142.6 2,044.5 Corporate and Other 165.4 182.3 Intersegment eliminations (69.2) (90.1) Total $ 14,265.0 $ 13,471.8

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) AOCI represents the accumulated change in shareholders’ equity from transactions and other events and circumstances from non-shareholder sources. For the Company, AOCI includes the after tax change in net unrealized investment gains (losses) on 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 Gains (Losses) on Securities (1) Net Funded Status of Benefit Plans (1) Total (1) Beginning balance, July 1, 2021 $ 332.2 $ (11.2) $ 321.0 Other comprehensive income (loss) before reclassifications (29.3) — (29.3) Amounts reclassified from AOCI (2) 4.0 — 4.0 Net current period other comprehensive income (loss) (25.3) — (25.3) Ending balance, September 30, 2021 $ 306.9 $ (11.2) $ 295.7 Beginning balance, July 1, 2020 $ 279.1 $ (10.7) $ 268.4 Other comprehensive income (loss) before reclassifications 54.3 — 54.3 Amounts reclassified from AOCI (3) (5.2) — (5.2) Net current period other comprehensive income (loss) 49.1 — 49.1 Ending balance, September 30, 2020 $ 328.2 $ (10.7) $ 317.5 Beginning balance, January 1, 2021 $ 366.3 $ (11.2) $ 355.1 Other comprehensive income (loss) before reclassifications (65.0) — (65.0) Amounts reclassified from AOCI (2) 5.6 — 5.6 Net current period other comprehensive income (loss) (59.4) — (59.4) Ending balance, September 30, 2021 $ 306.9 $ (11.2) $ 295.7 Beginning balance, January 1, 2020 $ 230.4 $ (10.7) $ 219.7 Other comprehensive income (loss) before reclassifications 97.3 — 97.3 Amounts reclassified from AOCI (3) 0.5 — 0.5 Net current period other comprehensive income (loss) 97.8 — 97.8 Ending balance, September 30, 2020 $ 328.2 $ (10.7) $ 317.5 (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $(5.0) million and $(7.1) million, are included in Net investment gains (losses) and the related income tax expenses, $(1.0) million and $(1.5) million, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2021, respectively. (3) The pretax amounts reclassified from AOCI, $6.6 million and $(0.6) million, are included in Net investment gains (losses) and the related income tax expenses, $1.4 million and $(0.1) million, are included in Income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 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 3.

Supplemental Consolidated Cash

Supplemental Consolidated Cash and Cash Flow Information	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Consolidated Cash and Cash Flow Information	Supplemental Consolidated Cash and Cash Flow Information ($ in millions) September 30, 2021 December 31, 2020 Cash $ 38.9 $ 21.8 Restricted cash 1.3 0.5 Total cash and restricted cash reported in the Consolidated Balance Sheets $ 40.2 $ 22.3 ($ in millions) Nine Months Ended 2021 2020 Cash paid for: Interest $ 7.3 $ 9.3 Income taxes 20.2 18.5 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 and nine months ended September 30, 2021 and 2020, respectively.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 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 reporting 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)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2021 2020 2021 2020 Fixed maturity securities $ 59.8 $ 56.4 $ 177.2 $ 174.7 Equity securities 1.4 1.1 3.8 3.5 Limited partnership interests 16.8 11.1 51.1 4.9 Short-term and other investments 2.8 2.7 8.5 8.4 Investment expenses (2.7) (2.1) (7.3) (7.2) Net investment income - investment portfolio 78.1 69.2 233.3 184.3 Investment income - deposit asset on reinsurance 25.6 24.5 75.1 72.1 Total net investment income $ 103.7 $ 93.7 $ 308.4 $ 256.4
Schedule of net investment gains (losses)	Net investment (losses) gains for the following periods were as follows: ($ in millions) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Fixed maturity securities $ (4.0) $ 2.7 $ (7.9) $ 3.1 Equity securities (1.0) 4.0 0.7 (3.6) Short-term investments and other (1.5) (4.2) (3.4) (12.3) Net investment (losses) gains $ (6.5) $ 2.5 $ (10.6) $ (12.8) The following table reconciles net investment (losses) gains by transaction type: ($ in millions) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Credit loss impairments (1) $ (6.6) $ — $ (7.7) $ — Intent-to-sell impairments — (1.1) (2.1) (5.3) Total impairments on investments recognized in net income (6.6) (1.1) (9.8) (5.3) Sales and other, net 2.7 3.7 2.2 8.6 Change in fair value - equity securities (1.1) 2.3 0.4 (5.6) Change in fair value and losses realized on settlements - derivatives (1.5) (2.4) (3.4) (10.5) Net investment (losses) gains $ (6.5) $ 2.5 $ (10.6) $ (12.8) (1) For the nine months ended September 30, 2021, the Company recognized a valuation allowance of $7.7 million for credit loss impairments with respect to fixed maturity securities available for sale.
Schedule of allowance for credit loss impairments on fixed maturity securities	The following table presents changes in the allowance for credit loss impairments on fixed maturity securities classified as available for sale for the category of other asset-backed securities (no other categories of fixed maturity securities have an allowance for credit loss impairments): ($ in millions) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Beginning balance $ 1.1 $ — $ — $ — Credit losses on fixed maturity securities for which credit losses were not previously reported 6.6 — 7.7 — Net (increases) decreases related to credit losses previously reported — — — — Reduction of credit allowances related to sales — — — — Write-offs — — — — Ending balance $ 7.7 $ — $ 7.7 $ —
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 September 30, 2021 Fixed maturity securities U.S. Government and federally sponsored agency obligations: (1) Mortgage-backed securities $ 636.2 $ 58.3 $ 1.0 $ 693.5 Other, including U.S. Treasury securities 385.7 28.8 5.6 408.9 Municipal bonds 1,592.5 184.1 1.1 1,775.5 Foreign government bonds 40.2 3.8 — 44.0 Corporate bonds 2,268.8 189.4 6.6 2,451.6 Other asset-backed securities 1,122.2 21.1 4.8 1,138.5 Totals $ 6,045.6 $ 485.5 $ 19.1 $ 6,512.0 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 $394.9 million and $387.1 million; Federal Home Loan Mortgage Corporation (FHLMC) of $337.8 million and $344.3 million; and Government National Mortgage Association (GNMA) of $118.2 million and $132.3 million as of September 30, 2021 and December 31, 2020, respectively.
Summary of fair value and gross unrealized losses of fixed maturity securities and equity securities in an unrealized loss position	The following table presents the fair value and gross unrealized losses for fixed maturity securities in an unrealized loss position at September 30, 2021 and December 31, 2020, respectively. The Company views the decrease in fair value of all of the fixed maturity securities with unrealized losses at September 30, 2021 — which was driven largely by increasing interest rates, spread widening, financial market illiquidity and/or market volatility from the date of acquisition — as temporary. As of September 30, 2021, the Company has not made the decision to sell and it is not more likely than not the Company will be required to sell the fixed maturity securities with unrealized losses before an anticipated recovery in value. Therefore, it was determined that the unrealized losses on the fixed maturity securities presented in the table below were not indicative of any impairments as of September 30, 2021. ($ in millions) 12 Months or Less More than 12 Months Total Fair Value Gross Fair Value Gross Fair Value Gross September 30, 2021 Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 69.5 $ 0.9 $ 2.1 $ 0.1 $ 71.6 $ 1.0 Other 106.1 4.4 15.0 1.2 121.1 5.6 Municipal bonds 52.2 1.0 1.4 0.1 53.6 1.1 Foreign government bonds — — — — — — Corporate bonds 214.1 5.3 36.1 1.3 250.2 6.6 Other asset-backed securities 187.6 1.1 205.4 3.7 393.0 4.8 Total $ 629.5 $ 12.7 $ 260.0 $ 6.4 $ 889.5 $ 19.1 Number of positions with a gross unrealized loss 401 129 530 Fair value as a percentage of total fixed maturity securities at fair value 9.7 % 4.0 % 13.7 % 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 September 30, 2021 September 30, 2021 December 31, 2020 Fair Amortized Estimated expected maturity: Due in 1 year or less 4.0 % 4.0 % $ 260.5 $ 253.7 Due after 1 year through 5 years 26.2 % 28.3 % 1,703.6 1,620.1 Due after 5 years through 10 years 28.1 % 28.0 % 1,830.4 1,685.7 Due after 10 years through 20 years 23.9 % 24.6 % 1,559.5 1,411.2 Due after 20 years 17.8 % 15.1 % 1,158.0 1,074.9 Total 100.0 % 100.0 % $ 6,512.0 $ 6,045.6 Average option-adjusted duration, in years 6.8 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 Nine Months Ended 2021 2020 2021 2020 Fixed maturity securities Proceeds received $ 155.4 $ 58.6 $ 319.2 $ 352.8 Gross gains realized 3.2 3.7 6.2 14.0 Gross losses realized (0.7) — (4.3) (5.9) Equity securities Proceeds received $ 0.3 $ 0.3 $ 1.0 $ 12.4 Gross gains realized 0.1 0.1 0.3 2.1 Gross losses realized — — — (1.8)
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 Nine Months Ended 2021 2020 2021 2020 Net unrealized investment gains (losses) Beginning of period $ 399.4 $ 329.9 $ 439.8 $ 264.4 Change in net unrealized investment gains (34.9) 56.9 (77.0) 128.1 Reclassification of net investment (gains) losses 3.9 5.2 5.6 (0.5) End of period $ 368.4 $ 392.0 $ 368.4 $ 392.0
Schedule of carrying amounts of equity method limited partnership interests	The carrying amounts of equity method limited partnership interests were as follows: ($ in millions) September 30, 2021 December 31, 2020 Senior commercial mortgage loan funds $ 265.8 $ 149.6 Infrastructure debt funds 62.7 58.3 Infrastructure equity funds 59.1 52.1 Hedge funds 51.1 63.2 Other funds (1) 176.7 125.8 Total $ 615.4 $ 449.0 (1) Other funds consist primarily of limited partnership interests in private equity, real estate equity 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 September 30, 2021 Asset derivatives: Free-standing derivatives $ 10.6 $ — $ 10.6 $ 9.8 $ 3.5 $ (2.7) 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)	9 Months Ended
	Sep. 30, 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 financial assets and financial liabilities measured and carried at fair value on a recurring basis. During the nine months ended September 30, 2021 and 2020, there were no transfers between Level 1 and Level 2. At September 30, 2021, Level 3 invested assets comprised 5.4% of the Company’s total investment portfolio at fair value. ($ in millions) Carrying Fair Fair Value Measurements at Level 1 Level 2 Level 3 September 30, 2021 Financial Assets Investments Fixed maturity securities U.S. Government and federally Mortgage-backed securities $ 693.5 $ 693.5 $ — $ 693.5 $ — Other, including U.S. Treasury securities 408.9 408.9 17.9 391.0 — Municipal bonds 1,775.5 1,775.5 — 1,717.3 58.2 Foreign government bonds 44.0 44.0 — 44.0 — Corporate bonds 2,451.6 2,451.6 14.5 2,232.1 205.0 Other asset-backed securities 1,138.5 1,138.5 — 1,040.0 98.5 Total fixed maturity securities 6,512.0 6,512.0 32.4 6,117.9 361.7 Equity securities 152.3 152.3 39.3 112.6 0.4 Short-term investments 52.3 52.3 36.1 16.2 — Other investments 43.2 43.2 — 43.2 — Totals $ 6,759.8 $ 6,759.8 $ 107.8 $ 6,289.9 $ 362.1 Separate Account (variable annuity) assets (1) $ 3,326.8 $ 3,326.8 $ 3,326.8 $ — $ — Financial Liabilities Investment contract and policy reserves, embedded derivatives $ 2.3 $ 2.3 $ — $ 2.3 $ — Other policyholder funds, embedded derivatives $ 106.7 $ 106.7 $ — $ — $ 106.7 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 433.2 433.2 18.4 414.8 — 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 1,231.8 1,231.8 — 1,103.5 128.3 Total fixed maturity securities 6,345.3 6,345.3 33.3 5,957.2 354.8 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 $ 210.2 $ 6,079.7 $ 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) were as follows: ($ in millions) Financial Assets Financial Liabilities (1) Municipal Corporate Mortgage-Backed and Other Asset- Backed Securities (2) Total Equity Total Beginning balance, July 1, 2021 $ 58.6 $ 150.5 $ 115.5 $ 324.6 $ 0.3 $ 324.9 $ 108.9 Transfers into Level 3 (3) — 55.7 4.0 59.7 — 59.7 — Transfers out of Level 3 (3) — — — — — — — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — (6.6) (6.6) 0.1 (6.5) — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 0.7 Net unrealized investment gains (losses) included in OCI (0.3) (0.1) 6.6 6.2 — 6.2 — Purchases — — — — — — — Issuances — — — — — — 1.4 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.1) (1.1) (21.0) (22.2) — (22.2) (4.3) Ending balance, September 30, 2021 $ 58.2 $ 205.0 $ 98.5 $ 361.7 $ 0.4 $ 362.1 $ 106.7 Beginning balance, January 1, 2021 $ 59.6 $ 155.8 $ 139.4 $ 354.8 $ 0.3 $ 355.1 $ 104.5 Transfers into Level 3 (3) — 108.3 10.2 118.5 — 118.5 — Transfers out of Level 3 (3) — (56.7) (19.2) (75.9) — (75.9) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — (7.7) (7.7) 0.1 (7.6) — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 8.2 Net unrealized investment gains (losses) included in OCI (0.9) 1.0 8.7 8.8 — 8.8 — Purchases — — — — — — — Issuances — — — — — — 3.3 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.5) (3.4) (32.9) (36.8) — (36.8) (9.3) Ending balance, September 30, 2021 $ 58.2 $ 205.0 $ 98.5 $ 361.7 $ 0.4 $ 362.1 $ 106.7 (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 and nine months ended September 30, 2021 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. ($ in millions) Financial Assets Financial (1) Municipal Corporate Mortgage-Backed and Other Asset- Backed Securities (2) Total Equity Total Beginning balance, July 1, 2020 $ 73.2 $ 126.3 $ 200.1 $ 399.6 $ 0.1 $ 399.7 $ 93.6 Transfers into Level 3 (3) 6.2 6.8 8.7 21.7 — 21.7 — Transfers out of Level 3 (3) (16.7) (12.5) (71.0) (100.2) — (100.2) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — (0.3) (0.3) — (0.3) — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 4.4 Net unrealized investment gains (losses) included in OCI 3.2 0.5 6.3 10.0 — 10.0 — Purchases — — — — — — — Issuances — — — — — — 2.0 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.2) 0.1 (3.1) (3.2) — (3.2) (1.9) Ending balance, September 30, 2020 $ 65.7 $ 121.2 $ 140.7 $ 327.6 $ 0.1 $ 327.7 $ 98.1 Beginning balance, January 1, 2020 $ 44.3 $ 104.0 $ 146.8 $ 295.1 $ 0.1 $ 295.2 $ 93.7 Transfers into Level 3 (3) 80.7 39.6 95.4 215.7 — 215.7 — Transfers out of Level 3 (3) (62.6) (26.7) (77.4) (166.7) — (166.7) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — — (0.3) (0.3) — (0.3) — Net investment (gains) losses included in net income related to financial liabilities — — — — — — 5.3 Net unrealized investment gains (losses) included in OCI 4.0 0.3 (14.8) (10.5) — (10.5) — Purchases — 6.9 1.9 8.8 — 8.8 — Issuances — — — — — — 5.9 Sales — — — — — — — Settlements — — — — — — — Paydowns, maturities and distributions (0.7) (2.9) (10.9) (14.5) — (14.5) (6.8) Ending balance, September 30, 2020 $ 65.7 $ 121.2 $ 140.7 $ 327.6 $ 0.1 $ 327.7 $ 98.1 (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 and nine months ended September 30, 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 September 30, 2021 Valuation Technique(s) Unobservable Inputs Range (Weighted Average) and Single Point Best Estimate (1) Municipal bonds $ 58.2 discounted cash flow I spread (2) 307 - 391 bps Corporate bonds 205.0 discounted cash flow N spread (3) 272 - 553 bps market comparable option adjusted spread 12.54% Other asset-backed securities 98.5 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% Equity securities 0.4 Black Scholes equity value low - 28.00%; high - 35.00% ($ in millions) Financial Fair Value at September 30, 2021 Valuation Technique(s) Unobservable Inputs Range (Weighted Average) and Single Point Best Estimate (1) Derivatives $ 106.7 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) Carrying Fair Fair Value Measurements at Level 1 Level 2 Level 3 September 30, 2021 Financial Assets Other investments $ 156.2 $ 159.8 $ — $ — $ 159.8 Deposit asset on reinsurance 2,477.9 2,945.0 — — 2,945.0 Financial Liabilities Investment contract and policy reserves, fixed annuity contracts 4,942.5 5,063.0 — — 5,063.0 Investment contract and policy reserves, account values on life contracts 103.2 112.6 — — 112.6 Other policyholder funds 887.6 887.6 — 832.7 54.9 Short-term debt 135.0 135.0 — — 135.0 Long-term debt 253.6 282.1 — 282.1 — 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)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The carrying amount of goodwill by reporting unit as of September 30, 2021 was as follows: ($ in millions) September 30, 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 September 30, 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 (15.9) Value of distribution acquired (10.9) Value of agency relationships (5.7) Value of customer relationships (4.1) Total (36.6) Net intangible assets subject to amortization: $ 137.9
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 nine months ended September 30, 2021) $ 3.2 2022 12.1 2023 11.2 2024 10.5 2025 9.8 Thereafter 91.1 Total $ 137.9
Summary of indefinite-lived intangible assets	Indefinite-lived intangible assets (not subject to amortization) as of September 30, 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)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2021 2020 2021 2020 Property and Casualty Beginning gross reserves (1) $ 368.4 $ 388.5 $ 372.2 $ 387.0 Less: reinsurance recoverables 108.9 116.1 112.9 120.5 Net reserves, beginning of period (2) 259.5 272.4 259.3 266.5 Incurred claims and claim expenses: Claims occurring in the current period 132.5 125.6 345.4 340.2 Decrease in estimated reserves for claims occurring in prior periods (3) (3.0) (7.2) (7.2) (9.2) Total claims and claim expenses incurred (4) 129.5 118.4 338.2 331.0 Claims and claim expense payments for claims occurring during: Current period 96.8 91.0 210.3 195.9 Prior periods 26.4 19.3 121.4 121.1 Total claims and claim expense payments 123.2 110.3 331.7 317.0 Net reserves, end of period (2) 265.8 280.5 265.8 280.5 Plus: reinsurance recoverables 109.6 114.8 109.6 114.8 Ending gross reserves (1) $ 375.4 $ 395.3 $ 375.4 $ 395.3 (1) Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Supplemental, Retirement and Life of $64.7 million and $59.2 million as of September 30, 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 $35.3 million and $108.0 million for the three and nine months ended September 30, 2021, respectively, in addition to Property and Casualty amounts. Benefits, claims and settlement expenses as reported in the Consolidate Statements of Operations also include amounts for Supplemental, Retirement and Life of $33.0 million and $102.1 million for the three and nine months ended September 30, 2020, respectively, in addition to Property and Casualty amounts.

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2021 Premiums written and contract deposits (2) $ 366.0 $ 5.5 $ 2.6 $ 363.1 Premiums and contract charges earned 230.9 8.1 2.6 225.4 Benefits, claims and settlement expenses 164.5 1.5 1.8 164.8 Three months ended September 30, 2020 Premiums written and contract deposits (2) $ 368.6 $ 2.1 $ 2.4 $ 368.9 Premiums and contract charges earned 237.1 4.2 2.4 235.3 Benefits, claims and settlement expenses 59.4 (90.1) 1.9 151.4 Nine months ended September 30, 2021 Premiums written and contract deposits (2) $ 1,037.8 $ 17.0 $ 6.6 $ 1,027.4 Premiums and contract charges earned 696.6 24.6 6.8 678.8 Benefits, claims and settlement expenses 444.7 3.0 4.5 446.2 Nine months ended September 30, 2020 Premiums written and contract deposits (2) $ 1,034.7 $ 14.8 $ 6.9 $ 1,026.8 Premiums and contract charges earned 710.9 20.9 7.0 697.0 Benefits, claims and settlement expenses 342.2 (85.8) 5.1 433.1 (1) Excludes the annuity reinsurance transaction accounted for using the deposit method that is discussed in Note 5. (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)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Summarized financial information for these segments	Summarized financial information for these segments is as follows: ($ in millions) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Premiums and contract charges earned Property and Casualty $ 153.3 $ 166.0 $ 464.1 $ 488.7 Supplemental 31.0 32.5 94.3 98.8 Retirement 9.9 7.4 27.7 21.5 Life 31.2 29.4 92.7 88.0 Total $ 225.4 $ 235.3 $ 678.8 $ 697.0 Net investment income Property and Casualty $ 11.3 $ 13.7 $ 43.8 $ 30.3 Supplemental 7.1 4.3 18.7 11.8 Retirement 64.8 58.1 187.2 166.7 Life 21.1 18.2 60.5 49.4 Corporate and Other — — (0.1) (0.1) Intersegment eliminations (0.6) (0.6) (1.7) (1.7) Total $ 103.7 $ 93.7 $ 308.4 $ 256.4 Net income (loss) Property and Casualty $ (4.7) $ 15.8 $ 42.5 $ 53.7 Supplemental 11.4 10.6 34.8 30.6 Retirement 14.1 7.8 36.2 16.6 Life 5.1 4.3 10.8 6.8 Corporate and Other (9.6) (2.0) (22.0) (22.2) Total $ 16.3 $ 36.5 $ 102.3 $ 85.5 ($ in millions) September 30, 2021 December 31, 2020 Assets Property and Casualty $ 1,269.0 $ 1,324.9 Supplemental 863.8 811.5 Retirement 9,893.4 9,198.7 Life 2,142.6 2,044.5 Corporate and Other 165.4 182.3 Intersegment eliminations (69.2) (90.1) Total $ 14,265.0 $ 13,471.8

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of accumulated other comprehensive income (loss)	The following table reconciles these components. ($ in millions) Net Unrealized Investment Gains (Losses) on Securities (1) Net Funded Status of Benefit Plans (1) Total (1) Beginning balance, July 1, 2021 $ 332.2 $ (11.2) $ 321.0 Other comprehensive income (loss) before reclassifications (29.3) — (29.3) Amounts reclassified from AOCI (2) 4.0 — 4.0 Net current period other comprehensive income (loss) (25.3) — (25.3) Ending balance, September 30, 2021 $ 306.9 $ (11.2) $ 295.7 Beginning balance, July 1, 2020 $ 279.1 $ (10.7) $ 268.4 Other comprehensive income (loss) before reclassifications 54.3 — 54.3 Amounts reclassified from AOCI (3) (5.2) — (5.2) Net current period other comprehensive income (loss) 49.1 — 49.1 Ending balance, September 30, 2020 $ 328.2 $ (10.7) $ 317.5 Beginning balance, January 1, 2021 $ 366.3 $ (11.2) $ 355.1 Other comprehensive income (loss) before reclassifications (65.0) — (65.0) Amounts reclassified from AOCI (2) 5.6 — 5.6 Net current period other comprehensive income (loss) (59.4) — (59.4) Ending balance, September 30, 2021 $ 306.9 $ (11.2) $ 295.7 Beginning balance, January 1, 2020 $ 230.4 $ (10.7) $ 219.7 Other comprehensive income (loss) before reclassifications 97.3 — 97.3 Amounts reclassified from AOCI (3) 0.5 — 0.5 Net current period other comprehensive income (loss) 97.8 — 97.8 Ending balance, September 30, 2020 $ 328.2 $ (10.7) $ 317.5 (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $(5.0) million and $(7.1) million, are included in Net investment gains (losses) and the related income tax expenses, $(1.0) million and $(1.5) million, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2021, respectively. (3) The pretax amounts reclassified from AOCI, $6.6 million and $(0.6) million, are included in Net investment gains (losses) and the related income tax expenses, $1.4 million and $(0.1) million, are included in Income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2020, respectively.

Supplemental Consolidated Cas_2

Supplemental Consolidated Cash and Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Summary of cash and restricted cash	($ in millions) September 30, 2021 December 31, 2020 Cash $ 38.9 $ 21.8 Restricted cash 1.3 0.5 Total cash and restricted cash reported in the Consolidated Balance Sheets $ 40.2 $ 22.3 ($ in millions) Nine Months Ended 2021 2020 Cash paid for: Interest $ 7.3 $ 9.3 Income taxes 20.2 18.5

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - Madison National $ in Millions	Jul. 14, 2021USD ($)
Business Acquisition [Line Items]
Consideration to acquire business	$ 172.5
Business acquisition, contingent consideration, liability (up to)	$ 12.5

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net Investment Income
Net Investment Income, Total	$ 103.7	$ 93.7	$ 308.4	$ 256.4
Investment Portfolio
Net Investment Income
Investment Income, Investment Expense	(2.7)	(2.1)	(7.3)	(7.2)
Net Investment Income, Total	78.1	69.2	233.3	184.3
Deposit asset on reinsurance
Net Investment Income
Net Investment Income, Total	25.6	24.5	75.1	72.1
Fixed maturity securities | Investment Portfolio
Net Investment Income
Net investment income - investment portfolio	59.8	56.4	177.2	174.7
Equity securities | Investment Portfolio
Net Investment Income
Net investment income - investment portfolio	1.4	1.1	3.8	3.5
Limited partnership interests | Investment Portfolio
Net Investment Income
Net investment income - investment portfolio	16.8	11.1	51.1	4.9
Short-term and other investments | Investment Portfolio
Net Investment Income
Net investment income - investment portfolio	$ 2.8	$ 2.7	$ 8.5	$ 8.4

Investments - Realized Investme

Investments - Realized Investment (Losses) Gains (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Gain (Loss) on Securities
Net investment (losses) gains	$ (6.5)	$ 2.5	$ (10.6)	$ (12.8)
Fixed maturity securities
Gain (Loss) on Securities
Net investment (losses) gains	(4)	2.7	(7.9)	3.1
Equity securities
Gain (Loss) on Securities
Net investment (losses) gains	(1)	4	0.7	(3.6)
Short-term investments and other
Gain (Loss) on Securities
Net investment (losses) gains	$ (1.5)	$ (4.2)	$ (3.4)	$ (12.3)

Investments - Net Investment (L

Investments - Net Investment (Losses) Gains By Transaction Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Credit loss impairments	$ (6.6)	$ 0	$ (7.7)	$ 0
Intent-to-sell impairments	0	(1.1)	(2.1)	(5.3)
Total impairments on investments recognized in net income	(6.6)	(1.1)	(9.8)	(5.3)
Sales and other, net	2.7	3.7	2.2	8.6
Change in fair value - equity securities	(1.1)	2.3	0.4	(5.6)
Change in fair value and losses realized on settlements - derivatives	(1.5)	(2.4)	(3.4)	(10.5)
Net investment (losses) gains	$ (6.5)	$ 2.5	(10.6)	$ (12.8)
Available-for-sale allowance for credit loss not previously recorded			$ 7.7

Investments- Allowance for Cred

Investments- Allowance for Credit Loss Impairments on Fixed Maturity Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale, Allowance for Credit Loss
Available-for-sale allowance for credit loss not previously recorded			$ 7.7
Fixed maturity securities
Debt Securities, Available-for-sale, Allowance for Credit Loss
Beginning balance	$ 7.7	$ 0	7.7	$ 0	$ 1.1	$ 0	$ 0	$ 0
Available-for-sale allowance for credit loss not previously recorded	6.6	0	7.7	0
Net (increases) decreases related to credit losses previously reported	0	0	0	0
Reduction of credit allowances related to sales	0	0	0	0
Write-offs	0	0	0	0
Ending balance	$ 7.7	$ 0	$ 7.7	$ 0

Investments - Summary of Fair V

Investments - Summary of Fair Value and Amortized Costs (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Unrealized gains and losses on fixed maturities and equity securities
Total	$ 6,045.6	$ 5,788.6
Fair Value	6,512	6,345.3
FNMA
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	394.9	387.1
FHLMC
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	337.8	344.3
GNMA
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	118.2	132.3
Total Fixed Maturity Securities
Unrealized gains and losses on fixed maturities and equity securities
Total	6,045.6	5,788.6
Gross Unrealized Gains	485.5	585.1
Gross Unrealized Losses	19.1	28.4
Fair Value	6,512	6,345.3
Mortgage-backed securities
Unrealized gains and losses on fixed maturities and equity securities
Total	636.2	605.5
Gross Unrealized Gains	58.3	79.6
Gross Unrealized Losses	1	0.3
Fair Value	693.5	684.8
Other, including U.S. Treasury securities
Unrealized gains and losses on fixed maturities and equity securities
Total	385.7	395
Gross Unrealized Gains	28.8	39.2
Gross Unrealized Losses	5.6	1
Fair Value	408.9	433.2
Municipal bonds
Unrealized gains and losses on fixed maturities and equity securities
Total	1,592.5	1,612.3
Gross Unrealized Gains	184.1	215.7
Gross Unrealized Losses	1.1	0.5
Fair Value	1,775.5	1,827.5
Foreign government bonds
Unrealized gains and losses on fixed maturities and equity securities
Total	40.2	40.2
Gross Unrealized Gains	3.8	4.9
Gross Unrealized Losses	0	0
Fair Value	44	45.1
Corporate bonds
Unrealized gains and losses on fixed maturities and equity securities
Total	2,268.8	1,905.2
Gross Unrealized Gains	189.4	221.6
Gross Unrealized Losses	6.6	3.9
Fair Value	2,451.6	2,122.9
Other asset-backed securities
Unrealized gains and losses on fixed maturities and equity securities
Total	1,122.2	1,230.4
Gross Unrealized Gains	21.1	24.1
Gross Unrealized Losses	4.8	22.7
Fair Value	$ 1,138.5	$ 1,231.8

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses (Details) $ in Millions	Sep. 30, 2021USD ($)security	Dec. 31, 2020USD ($)security
Fixed maturity securities, Number of Positions
Number of positions with a gross unrealized loss, 12 Months or Less | security	401	308
Number of position with a gross unrealized loss, more than 12 months | security	129	123
Number of position with a gross unrealized loss, Total | security	530	431
Fair value as a percentage of total fixed maturities and equity securities fair value, 12 Months or Less	9.70%	8.90%
Fair value as a percentage of total fixed maturities and equity securities fair value, more than 12 months	4.00%	6.70%
Fair value as a percentage of total fixed maturities and equity securities fair value, Total	13.70%	15.60%
Mortgage-backed securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	$ 69.5	$ 4.9
Fixed maturity securities, Fair Value, More than 12 Months	2.1	2.6
Fixed maturity securities, Fair Value, Total	71.6	7.5
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	0.9	0.1
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	0.1	0.2
Fixed maturity securities, Gross Unrealized Losses, Total	1	0.3
Other
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	106.1	95.9
Fixed maturity securities, Fair Value, More than 12 Months	15	0
Fixed maturity securities, Fair Value, Total	121.1	95.9
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	4.4	1
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	1.2	0
Fixed maturity securities, Gross Unrealized Losses, Total	5.6	1
Municipal bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	52.2	18.1
Fixed maturity securities, Fair Value, More than 12 Months	1.4	0
Fixed maturity securities, Fair Value, Total	53.6	18.1
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	1	0.5
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	0.1	0
Fixed maturity securities, Gross Unrealized Losses, Total	1.1	0.5
Foreign government bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	0	0
Fixed maturity securities, Fair Value, More than 12 Months	0	0
Fixed maturity securities, Fair Value, Total	0	0
Fixed maturity securities, Gross Unrealized Losses
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	214.1	126.6
Fixed maturity securities, Fair Value, More than 12 Months	36.1	10.9
Fixed maturity securities, Fair Value, Total	250.2	137.5
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	5.3	3.7
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	1.3	0.2
Fixed maturity securities, Gross Unrealized Losses, Total	6.6	3.9
Other asset-backed securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	187.6	316.9
Fixed maturity securities, Fair Value, More than 12 Months	205.4	409.3
Fixed maturity securities, Fair Value, Total	393	726.2
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	1.1	17.2
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	3.7	5.5
Fixed maturity securities, Gross Unrealized Losses, Total	4.8	22.7
Total Fixed Maturity Securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	629.5	562.4
Fixed maturity securities, Fair Value, More than 12 Months	260	422.8
Fixed maturity securities, Fair Value, Total	889.5	985.2
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	12.7	22.5
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	6.4	5.9
Fixed maturity securities, Gross Unrealized Losses, Total	$ 19.1	$ 28.4

Investments - Distribution of F

Investments - Distribution of Fixed Maturity Securities by Expected Maturity (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Percent of Total Fair Value
Due in 1 year or less	4.00%	4.00%
Due after 1 year through 5 years	26.20%	28.30%
Due after 5 years through 10 years	28.10%	28.00%
Due after 10 years through 20 years	23.90%	24.60%
Due after 20 years	17.80%	15.10%
Total	100.00%	100.00%
Fair Value
Due in 1 year or less	$ 260.5
Due after 1 year through 5 years	1,703.6
Due after 5 years through 10 years	1,830.4
Due after 10 years through 20 years	1,559.5
Due after 20 years	1,158
Total	6,512	$ 6,345.3
Amortized Cost, net
Due in 1 year or less	253.7
Due after 1 year through 5 years	1,620.1
Due after 5 years through 10 years	1,685.7
Due after 10 years through 20 years	1,411.2
Due after 20 years	1,074.9
Total	$ 6,045.6	$ 5,788.6
Average option-adjusted duration, in years	6 years 9 months 18 days	6 years 4 months 24 days

Investments - Sales of Fixed Ma

Investments - Sales of Fixed Maturity and Equity Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fixed maturity securities
Proceeds received	$ 155.4	$ 58.6	$ 319.2	$ 352.8
Gross gains realized	3.2	3.7	6.2	14
Gross losses realized	(0.7)	0	(4.3)	(5.9)
Equity securities
Proceeds received	0.3	0.3	1	12.4
Gross gains realized	0.1	0.1	0.3	2.1
Gross losses realized	$ 0	$ 0	$ 0	$ (1.8)

Investments - Reconciliation of

Investments - Reconciliation of Net Unrealized Investment Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Beginning balance			$ 1,790.1
Ending balance	$ 1,796.4	$ 1,715.8	1,796.4	$ 1,715.8
Net unrealized investment gains (losses) on securities
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Beginning balance	332.2	279.1	366.3	230.4
Ending balance	306.9	328.2	306.9	328.2
Net unrealized investment gains (losses) on securities | Fixed maturity securities
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Beginning balance	399.4	329.9	439.8	264.4
Change in net unrealized investment gains (losses) on fixed maturity securities	(34.9)	56.9	(77)	128.1
Reclassification of net investment (gains) losses on fixed maturity securities to net income	3.9	5.2	5.6	(0.5)
Ending balance	$ 368.4	$ 392	$ 368.4	$ 392

Investments - Carrying Amount o

Investments - Carrying Amount of Equity Method Limited Partnership Interests (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Schedule of Equity Method Investments
Limited partnership interests	$ 615.4	$ 449
Senior commercial mortgage loan funds
Schedule of Equity Method Investments
Limited partnership interests	265.8	149.6
Infrastructure debt funds
Schedule of Equity Method Investments
Limited partnership interests	62.7	58.3
Infrastructure equity funds
Schedule of Equity Method Investments
Limited partnership interests	59.1	52.1
Hedge funds
Schedule of Equity Method Investments
Limited partnership interests	51.1	63.2
Other funds
Schedule of Equity Method Investments
Limited partnership interests	$ 176.7	$ 125.8

Investments - Offsetting of Ass

Investments - Offsetting of Assets and Liabilities (Details) - Free-standing derivatives - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Asset derivatives:
Gross Amounts	$ 10.6	$ 16.8
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheets	10.6	16.8
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments	9.8	13.7
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	3.5	2.6
Net Amount	$ (2.7)	$ 0.5

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Investment Holdings [Line Items]
Investment grade rating	86.70%
Debt securities, available-for-sale	$ 6,512	$ 6,345.3
FHLB funding agreements	837.5	644.5
FHLB of Chicago
Investment Holdings [Line Items]
Debt securities, available-for-sale	923.6	707.3
Governmental Agencies as Required by Law in Various States
Investment Holdings [Line Items]
Debt securities, available-for-sale	$ 26.4	$ 26.9

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Percentage of level 3 invested assets in total investment portfolio	5.40%		5.40%
Net investment gains (losses) included in net income related to financial assets	$ 6.5	$ 0.3	$ 7.6	$ 0.3
Net investment (gains) losses included in net income related to financial liabilities	0.7	4.4	8.2	5.3
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Net investment gains (losses) included in net income related to financial assets	$ 6.5	$ 0.3	$ 7.6	$ 0.3

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Financial Instruments Measured and Carried at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Financial Assets
Debt securities, available-for-sale	$ 6,512	$ 6,345.3
Equity securities	152.3	121.6
Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	693.5	684.8
Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	408.9	433.2
Municipal bonds
Financial Assets
Debt securities, available-for-sale	1,775.5	1,827.5
Foreign government bonds
Financial Assets
Debt securities, available-for-sale	44	45.1
Corporate bonds
Financial Assets
Debt securities, available-for-sale	2,451.6	2,122.9
Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	1,138.5	1,231.8
Carrying Amount
Financial Assets
Equity securities	152.3	121.6
Short-term investments	52.3	141.8
Other investments	43.2	36.3
Totals	6,759.8	6,645
Separate Account (variable annuity) assets	3,326.8	2,891.4
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	2.3	2.5
Other policyholder funds, embedded derivatives	106.7	104.5
Carrying Amount | Recurring
Financial Assets
Debt securities, available-for-sale	6,512	6,345.3
Carrying Amount | Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	693.5	684.8
Carrying Amount | Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	408.9	433.2
Carrying Amount | Municipal bonds
Financial Assets
Debt securities, available-for-sale	1,775.5	1,827.5
Carrying Amount | Foreign government bonds
Financial Assets
Debt securities, available-for-sale	44	45.1
Carrying Amount | Corporate bonds
Financial Assets
Debt securities, available-for-sale	2,451.6	2,122.9
Carrying Amount | Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	1,138.5	1,231.8
Fair Value
Financial Assets
Equity securities	152.3	121.6
Short-term investments	52.3	141.8
Other investments	43.2	36.3
Totals	6,759.8	6,645
Separate Account (variable annuity) assets	3,326.8	2,891.4
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	2.3	2.5
Other policyholder funds, embedded derivatives	106.7	104.5
Fair Value | Recurring
Financial Assets
Debt securities, available-for-sale	6,512	6,345.3
Fair Value | Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	693.5	684.8
Fair Value | Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	408.9	433.2
Fair Value | Municipal bonds
Financial Assets
Debt securities, available-for-sale	1,775.5	1,827.5
Fair Value | Foreign government bonds
Financial Assets
Debt securities, available-for-sale	44	45.1
Fair Value | Corporate bonds
Financial Assets
Debt securities, available-for-sale	2,451.6	2,122.9
Fair Value | Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	1,138.5	1,231.8
Fair Value | Level 1
Financial Assets
Equity securities	39.3	39.2
Short-term investments	36.1	137.7
Other investments	0	0
Totals	107.8	210.2
Separate Account (variable annuity) assets	3,326.8	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	32.4	33.3
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	17.9	18.4
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	14.5	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	112.6	82.1
Short-term investments	16.2	4.1
Other investments	43.2	36.3
Totals	6,289.9	6,079.7
Separate Account (variable annuity) assets	0	0
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	2.3	2.5
Other policyholder funds, embedded derivatives	0	0
Fair Value | Level 2 | Recurring
Financial Assets
Debt securities, available-for-sale	6,117.9	5,957.2
Fair Value | Level 2 | Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	693.5	673.7
Fair Value | Level 2 | Other, including U.S. Treasury securities
Financial Assets
Debt securities, available-for-sale	391	414.8
Fair Value | Level 2 | Municipal bonds
Financial Assets
Debt securities, available-for-sale	1,717.3	1,767.9
Fair Value | Level 2 | Foreign government bonds
Financial Assets
Debt securities, available-for-sale	44	45.1
Fair Value | Level 2 | Corporate bonds
Financial Assets
Debt securities, available-for-sale	2,232.1	1,952.2
Fair Value | Level 2 | Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	1,040	1,103.5
Fair Value | Level 3
Financial Assets
Equity securities	0.4	0.3
Short-term investments	0	0
Other investments	0	0
Totals	362.1	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	106.7	104.5
Fair Value | Level 3 | Recurring
Financial Assets
Debt securities, available-for-sale	361.7	354.8
Fair Value | Level 3 | Mortgage-backed securities
Financial Assets
Debt securities, available-for-sale	0	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	58.2	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	205	155.8
Fair Value | Level 3 | Other asset-backed securities
Financial Assets
Debt securities, available-for-sale	$ 98.5	$ 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Financial Assets
Beginning balance	$ 324.9	$ 399.7	$ 355.1	$ 295.2
Transfers into Level 3	59.7	21.7	118.5	215.7
Transfers out of Level 3	0	(100.2)	(75.9)	(166.7)
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	(6.5)	(0.3)	(7.6)	(0.3)
Net unrealized investment gains (losses) included in OCI	6.2	10	8.8	(10.5)
Purchases	0	0	0	8.8
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(22.2)	(3.2)	(36.8)	(14.5)
Ending balance	362.1	327.7	362.1	327.7
Financial Liabilities
Beginning balance	108.9	93.6	104.5	93.7
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Total gains or losses
Net investment (gains) losses included in net income related to financial liabilities	0.7	4.4	8.2	5.3
Net unrealized investment gains (losses) included in OCI	0	0	0	0
Purchases	0	0	0	0
Issuances	1.4	2	3.3	5.9
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(4.3)	(1.9)	(9.3)	(6.8)
Ending balance	106.7	98.1	106.7	98.1
Municipal bonds
Financial Assets
Beginning balance	58.6	73.2	59.6	44.3
Transfers into Level 3	0	6.2	0	80.7
Transfers out of Level 3	0	(16.7)	0	(62.6)
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	0	0	0	0
Net unrealized investment gains (losses) included in OCI	(0.3)	3.2	(0.9)	4
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(0.1)	(0.2)	(0.5)	(0.7)
Ending balance	58.2	65.7	58.2	65.7
Corporate bonds
Financial Assets
Beginning balance	150.5	126.3	155.8	104
Transfers into Level 3	55.7	6.8	108.3	39.6
Transfers out of Level 3	0	(12.5)	(56.7)	(26.7)
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	0	0	0	0
Net unrealized investment gains (losses) included in OCI	(0.1)	0.5	1	0.3
Purchases	0	0	0	6.9
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(1.1)	0.1	(3.4)	(2.9)
Ending balance	205	121.2	205	121.2
Mortgage and Asset Backed Securities
Financial Assets
Beginning balance	115.5	200.1	139.4	146.8
Transfers into Level 3	4	8.7	10.2	95.4
Transfers out of Level 3	0	(71)	(19.2)	(77.4)
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	(6.6)	(0.3)	(7.7)	(0.3)
Net unrealized investment gains (losses) included in OCI	6.6	6.3	8.7	(14.8)
Purchases	0	0	0	1.9
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(21)	(3.1)	(32.9)	(10.9)
Ending balance	98.5	140.7	98.5	140.7
Total Fixed Maturity Securities
Financial Assets
Beginning balance	324.6	399.6	354.8	295.1
Transfers into Level 3	59.7	21.7	118.5	215.7
Transfers out of Level 3	0	(100.2)	(75.9)	(166.7)
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	(6.6)	(0.3)	(7.7)	(0.3)
Net unrealized investment gains (losses) included in OCI	6.2	10	8.8	(10.5)
Purchases	0	0	0	8.8
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(22.2)	(3.2)	(36.8)	(14.5)
Ending balance	361.7	327.6	361.7	327.6
Equity securities
Financial Assets
Beginning balance	0.3	0.1	0.3	0.1
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	0.1	0	0.1	0
Net unrealized investment gains (losses) included in OCI	0	0	0	0
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	0	0	0	0
Ending balance	$ 0.4	$ 0.1	$ 0.4	$ 0.1

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Quantitative Information about Level 3 Fair Value Measurements (Details) $ in Millions	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value Measurement Inputs and Valuation Techniques
Debt securities, available-for-sale	$ 6,512	$ 6,345.3
Equity securities at fair value	152.3	121.6
Municipal bonds
Fair Value Measurement Inputs and Valuation Techniques
Debt securities, available-for-sale	1,775.5	1,827.5
Corporate bonds
Fair Value Measurement Inputs and Valuation Techniques
Debt securities, available-for-sale	2,451.6	2,122.9
Other asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques
Debt securities, available-for-sale	1,138.5	$ 1,231.8
Level 3
Fair Value Measurement Inputs and Valuation Techniques
Derivatives embedded in fixed indexed annuity products	$ 106.7
Level 3 | discounted cash flow | lapse rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques
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
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
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
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
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
Equity securities, measurement input	0.2800
Level 3 | Black Scholes | equity value | Maximum
Fair Value Measurement Inputs and Valuation Techniques
Equity securities, measurement input	0.3500
Level 3 | Municipal bonds | discounted cash flow | I Spread | Minimum
Fair Value Measurement Inputs and Valuation Techniques
Debt securities, measurement input	0.0307
Level 3 | Municipal bonds | discounted cash flow | I Spread | Maximum
Fair Value Measurement Inputs and Valuation Techniques
Debt securities, measurement input	0.0391
Level 3 | Corporate bonds | discounted cash flow | N Spread | Minimum
Fair Value Measurement Inputs and Valuation Techniques
Debt securities, measurement input	0.0272
Level 3 | Corporate bonds | discounted cash flow | N Spread | Maximum
Fair Value Measurement Inputs and Valuation Techniques
Debt securities, measurement input	0.0553
Level 3 | Corporate bonds | market comparable | option adjusted spread | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques
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
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
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
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
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
Debt securities, measurement input	0.0450
Level 3 | Other asset-backed securities | vendor price | haircut | Minimum
Fair Value Measurement Inputs and Valuation Techniques
Debt securities, measurement input	0.0300
Level 3 | Other asset-backed securities | vendor price | haircut | Maximum
Fair Value Measurement Inputs and Valuation Techniques
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	Sep. 30, 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	832.7	590.7
Short-term debt	0	0
Long-term debt	282.1	331.1
Level 3
Investments
Other investments	159.8	172.1
Deposit asset on reinsurance	2,945	3,030.6
Financial Liabilities
Investment contract and policy reserves, fixed annuity contracts	5,063	4,963.3
Investment contract and policy reserves, account values on life contracts	112.6	108.4
Other policyholder funds	54.9	56.1
Short-term debt	135	135
Long-term debt	0	0
Carrying Amount
Investments
Other investments	156.2	168.3
Deposit asset on reinsurance	2,477.9	2,420.9
Financial Liabilities
Investment contract and policy reserves, fixed annuity contracts	4,942.5	4,847.6
Investment contract and policy reserves, account values on life contracts	103.2	98.7
Other policyholder funds	887.6	646.8
Short-term debt	135	135
Long-term debt	253.6	302.3
Fair Value
Investments
Other investments	159.8	172.1
Deposit asset on reinsurance	2,945	3,030.6
Financial Liabilities
Investment contract and policy reserves, fixed annuity contracts	5,063	4,963.3
Investment contract and policy reserves, account values on life contracts	112.6	108.4
Other policyholder funds	887.6	646.8
Short-term debt	135	135
Long-term debt	$ 282.1	$ 331.1

Deposit Asset on Reinsurance (D

Deposit Asset on Reinsurance (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2019	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Effects of Reinsurance
Reinsurance block of in-force fixed and variable annuity business			$ 3,200
Reinsured percentage of total in force fixed annuity account balances			50.00%
Fixed annuity reserves reinsured on a coinsurance basis	$ 2,400			$ 2,400
Separate account asset	3,326.8			3,326.8		$ 2,891.4
Separate account liability	3,326.8			3,326.8		$ 2,891.4
Net investment income	103.7	$ 93.7		308.4	$ 256.4
Deposit asset on reinsurance
Effects of Reinsurance
Net investment income	25.6	$ 24.5		75.1	$ 72.1
Reinsurance Contract Modified Coinsurance Basis
Effects of Reinsurance
Separate account asset	800			800
Separate account liability	$ 800			$ 800
Minimum
Effects of Reinsurance
Minimum crediting rating			4.50%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Goodwill
Goodwill	$ 43.5	$ 43.5
Property and Casualty
Goodwill
Goodwill	9.5
Supplemental
Goodwill
Goodwill	19.6
Retirement
Goodwill
Goodwill	4.5
Life
Goodwill
Goodwill	$ 9.9

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) $ in Millions	Sep. 30, 2021USD ($)
BCG
Goodwill
Acquired finite-lived intangible assets	$ 14.1
NTA
Goodwill
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	9 Months Ended
	Sep. 30, 2021USD ($)
Finite-Lived Intangible Assets
Weighted Average useful Life (in Years)	23 years
At inception	$ 174.5
Accumulated amortization	(36.6)
Total	$ 137.9
Value of business acquired
Finite-Lived Intangible Assets
Weighted Average useful Life (in Years)	30 years
At inception	$ 94.4
Accumulated amortization	$ (15.9)
Value of distribution acquired
Finite-Lived Intangible Assets
Weighted Average useful Life (in Years)	17 years
At inception	$ 54
Accumulated amortization	$ (10.9)
Value of agency relationships
Finite-Lived Intangible Assets
Weighted Average useful Life (in Years)	14 years
At inception	$ 17
Accumulated amortization	$ (5.7)
Value of customer relationships
Finite-Lived Intangible Assets
Weighted Average useful Life (in Years)	10 years
At inception	$ 9.1
Accumulated amortization	$ (4.1)

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Future Amortization (Details) $ in Millions	Sep. 30, 2021USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule
2021 (excluding the nine months ended September 30, 2021)	$ 3.2
2022	12.1
2023	11.2
2024	10.5
2025	9.8
Thereafter	91.1
Total	$ 137.9

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Summary of Indefinite-Lived Intangibles (Details) $ in Millions	Sep. 30, 2021USD ($)
Indefinite-lived Intangible Assets
Indefinite-lived intangible assets	$ 10.8
Trade names
Indefinite-lived Intangible Assets
Indefinite-lived intangible assets	7.9
State licenses
Indefinite-lived Intangible Assets
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information
Beginning gross reserves			$ 438.8
Claims and claim expense payments for claims occurring during:
Ending gross reserves	$ 440.1		440.1
Benefits, claims and settlement expenses	164.8	$ 151.4	446.2	$ 433.1
Property and Casualty
Segment Reporting Information
Beginning gross reserves	368.4	388.5	372.2	387
Less: reinsurance recoverables	108.9	116.1	112.9	120.5
Net reserves, beginning of period	259.5	272.4	259.3	266.5
Incurred claims and claim expenses:
Claims occurring in the current period	132.5	125.6	345.4	340.2
Decrease in estimated reserves for claims occurring in prior periods	(3)	(7.2)	(7.2)	(9.2)
Total claims and claim expenses incurred	129.5	118.4	338.2	331
Claims and claim expense payments for claims occurring during:
Current period	96.8	91	210.3	195.9
Prior periods	26.4	19.3	121.4	121.1
Total claims and claim expense payments	123.2	110.3	331.7	317
Net reserves, end of period	265.8	280.5	265.8	280.5
Plus: reinsurance recoverables	109.6	114.8	109.6	114.8
Ending gross reserves	375.4	395.3	375.4	395.3
Life and Annuity Segments
Claims and claim expense payments for claims occurring during:
Net reserves, end of period	64.7	59.2	64.7	59.2
Benefits, claims and settlement expenses	$ 35.3	$ 33	$ 108	$ 102.1

Unpaid Claims and Claim Expen_4

Unpaid Claims and Claim Expenses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Camp Fire In California
Segment Reporting Information
Favorable development of total reserves for property and casualty claims occurring in prior years				$ 5.2
Property and Casualty
Segment Reporting Information
Favorable development of total reserves for property and casualty claims occurring in prior years	$ 3	$ 7.2	$ 7.2	$ 9.2

Reinsurance - Summary of Reinsu

Reinsurance - Summary of Reinsurance Activity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Gross Amount
Premiums written and contract deposits, Gross Amount	$ 366	$ 368.6	$ 1,037.8	$ 1,034.7
Premiums and contract charges earned, Gross Amount	230.9	237.1	696.6	710.9
Benefits, claims and settlement expenses, Gross Amount	164.5	59.4	444.7	342.2
Ceded to Other Companies
Premiums written and contract deposits, Ceded to Other Companies	5.5	2.1	17	14.8
Premiums and contract charges earned, Ceded to Other Companies	8.1	4.2	24.6	20.9
Benefits, claims and settlement expenses, Ceded to Other Companies	1.5	(90.1)	3	(85.8)
Assumed from Other Companies
Premiums written and contract deposits, Assumed from Other Companies	2.6	2.4	6.6	6.9
Premiums and contract charges earned, Assumed from Other Companies	2.6	2.4	6.8	7
Benefits, claims and settlement expenses, Assumed from Other Companies	1.8	1.9	4.5	5.1
Net Amount
Premiums written and contract deposits, Net Amount	363.1	368.9	1,027.4	1,026.8
Premiums and contract charges earned, Net Amount	225.4	235.3	678.8	697
Benefits, claims and settlement expenses, Net Amount	$ 164.8	$ 151.4	$ 446.2	$ 433.1

Commitments (Details)

Commitments (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Unfunded commitments to purchase investments	$ 911.4	$ 571.9

Segment Information - Summary o

Segment Information - Summary of Segment Activity (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Reporting Information
Number of reportable segments | segment			5
Number of operating segments | segment			4
Summarized financial information for these segments
Premiums and contract charges earned	$ 225.4	$ 235.3	$ 678.8	$ 697
Net investment income	103.7	93.7	308.4	256.4
Net income (loss)	16.3	36.5	102.3	85.5
Assets	14,265		14,265		$ 13,471.8
Intersegment eliminations
Summarized financial information for these segments
Net investment income	(0.6)	(0.6)	(1.7)	(1.7)
Assets	(69.2)		(69.2)		(90.1)
Property and Casualty
Summarized financial information for these segments
Premiums and contract charges earned	153.3	166	464.1	488.7
Property and Casualty | Operating segments
Summarized financial information for these segments
Net investment income	11.3	13.7	43.8	30.3
Net income (loss)	(4.7)	15.8	42.5	53.7
Assets	1,269		1,269		1,324.9
Supplemental
Summarized financial information for these segments
Premiums and contract charges earned	31	32.5	94.3	98.8
Assets	863.8		863.8		811.5
Supplemental | Operating segments
Summarized financial information for these segments
Net investment income	7.1	4.3	18.7	11.8
Net income (loss)	11.4	10.6	34.8	30.6
Retirement
Summarized financial information for these segments
Premiums and contract charges earned	9.9	7.4	27.7	21.5
Retirement | Operating segments
Summarized financial information for these segments
Net investment income	64.8	58.1	187.2	166.7
Net income (loss)	14.1	7.8	36.2	16.6
Assets	9,893.4		9,893.4		9,198.7
Life
Summarized financial information for these segments
Premiums and contract charges earned	31.2	29.4	92.7	88
Life | Operating segments
Summarized financial information for these segments
Net investment income	21.1	18.2	60.5	49.4
Net income (loss)	5.1	4.3	10.8	6.8
Assets	2,142.6		2,142.6		2,044.5
Corporate and Other
Summarized financial information for these segments
Net investment income	0	0	(0.1)	(0.1)
Net income (loss)	(9.6)	$ (2)	(22)	$ (22.2)
Assets	$ 165.4		$ 165.4		$ 182.3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Beginning balance			$ 1,790.1
Other comprehensive income (loss) before reclassifications	$ (29.3)	$ 54.3	(65)	$ 97.3
Amounts reclassified from AOCI	4	(5.2)	5.6	0.5
Other comprehensive (loss) income	(25.3)	49.1	(59.4)	97.8
Ending balance	1,796.4	1,715.8	1,796.4	1,715.8
Pretax reclassification amounts from AOCI, tax	(1)	1.4	(1.5)	(0.1)
Total
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Beginning balance	321	268.4	355.1	219.7
Ending balance	295.7	317.5	295.7	317.5
Net Unrealized Investment Gains (Losses) on Securities
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Beginning balance	332.2	279.1	366.3	230.4
Other comprehensive income (loss) before reclassifications	(29.3)	54.3	(65)	97.3
Amounts reclassified from AOCI	4	(5.2)	5.6	0.5
Other comprehensive (loss) income	(25.3)	49.1	(59.4)	97.8
Ending balance	306.9	328.2	306.9	328.2
Pretax reclassification amounts from accumulated other comprehensive income (loss)	(5)	6.6	(7.1)	(0.6)
Net Funded Status of Benefit Plans
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Beginning balance	(11.2)	(10.7)	(11.2)	(10.7)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI	0	0	0	0
Other comprehensive (loss) income	0	0	0	0
Ending balance	$ (11.2)	$ (10.7)	$ (11.2)	$ (10.7)

Supplemental Consolidated Cas_3

Supplemental Consolidated Cash and Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash	$ 38.9		$ 21.8
Restricted cash	1.3		0.5
Total cash and restricted cash reported in the Consolidated Balance Sheets	40.2	$ 65.5	$ 22.3	$ 25.5
Cash paid (recovered) during the nine months for interest	7.3	9.3
Cash paid (recovered) during the nine months for income taxes	$ 20.2	$ 18.5