Investments (Tables)

12 Months Ended

Dec. 31, 2014

Investments Debt And Equity Securities [Abstract]

Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value of Investments

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investments as of December 31 were as follows:

December 31, 2014
(in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Fixed maturities
USD denominated:
U.S. Governments	$	184.0	$	1.3	$	0.3	$	185.0
Non-U.S. Governments		79.9		0.6		0.6		79.9
Obligations of states and political subdivisions		468.1		22.9		0.3		490.7
Credit-Financial		508.1		12.3		2.3		518.1
Credit-Industrial		493.7		9.4		3.5		499.6
Credit-Utility		142.7		3.2		3.9		142.0
Structured securities:
CMO/MBS-agency ⁽¹⁾		168.0		8.0		0.7		175.3
CMO/MBS-non agency		13.2		0.8		—		14.0
CMBS ⁽²⁾		178.6		1.6		0.2		180.0
ABS ⁽³⁾		221.4		0.6		1.0		221.0
Foreign denominated:
Governments		148.4		1.2		9.4		140.2
Credit		211.1		2.7		18.9		194.9
Total fixed maturities		2,817.2		64.6		41.1		2,840.7
Equity securities		307.3		184.1		5.1		486.3
Other investments		488.9		7.5		1.3		495.1
Short-term investments		275.8		—		—		275.8
Total investments	$	3,889.2	$	256.2	$	47.5	$	4,097.9

⁽¹⁾	Collateralized mortgage obligations/mortgage-backed securities (“CMO/MBS”).

⁽²⁾	Commercial mortgage-backed securities (“CMBS”).

⁽³⁾	Asset-backed securities (“ABS”).

December 31, 2013
(in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Fixed maturities
USD denominated:
U.S. Governments	$	273.4	$	2.4	$	0.5	$	275.3
Non-U.S. Governments		60.9		0.3		1.0		60.2
Obligations of states and political subdivisions		563.7		22.9		8.8		577.8
Credit-Financial		426.3		15.4		1.8		439.9
Credit-Industrial		385.5		13.8		2.2		397.1
Credit-Utility		162.0		5.4		0.8		166.6
Structured securities:
CMO/MBS-agency ⁽¹⁾		219.4		9.2		1.7		226.9
CMO/MBS-non agency		19.4		0.8		—		20.2
CMBS ⁽²⁾		162.7		3.1		1.0		164.8
ABS ⁽³⁾		123.6		0.8		0.6		123.8
Foreign denominated:
Governments		207.7		4.9		5.9		206.7
Credit		155.5		4.4		4.8		155.1
Total fixed maturities		2,760.1		83.4		29.1		2,814.4
Equity securities		346.9		188.6		1.2		534.3
Other investments		377.4		2.8		1.3		378.9
Short-term investments		351.6		—		—		351.6
Total investments	$	3,836.0	$	274.8	$	31.6	$	4,079.2

⁽¹⁾	Collateralized mortgage obligations/mortgage-backed securities (“CMO/MBS”).

⁽²⁾	Commercial mortgage-backed securities (“CMBS”).

⁽³⁾	Asset-backed securities (“ABS”).

Schedule of Amortized Cost and Fair Values of Fixed Maturity Investments, by Contractual Maturity

The amortized cost and fair values of fixed maturity investments as of December 31, 2014, by contractual maturity, were as follows:

(in millions)	Amortized Cost		Fair Value
Due in one year or less	$	238.7	$	235.3
Due after one year through five years		1,326.2		1,328.5
Due after five years through ten years		507.7		519.1
Thereafter		163.4		167.5
Structured securities		581.2		590.3
Total	$	2,817.2	$	2,840.7

Schedule Of Carrying Value Redemption Characteristics And Unfunded Investment Commitments Of Other Invested Assets Portfolio

Details regarding the carrying value, redemption characteristics and unfunded investment commitments of the other invested assets portfolio as of December 31, 2014 and 2013 were as follows:

December 31, 2014
(in millions)	Carrying Value		Unfunded Commitments
Investment Type
Hedge funds	$	153.2	$	—
Private equity		123.6		72.9
Long only funds		104.4		—
Other investments		113.9		—
Total other invested assets	$	495.1	$	72.9

December 31, 2013
(in millions)	Carrying Value		Unfunded Commitments
Investment Type
Hedge funds	$	87.9	$	—
Private equity		93.8		35.7
Long only funds		62.0		—
Other investments		135.2		—
Total other invested assets	$	378.9	$	35.7

Schedule of Aging of Unrealized Losses on Company's Investments in Fixed Maturities, Equity Securities and Other Investments

An aging of unrealized losses on our investments in fixed maturities, equity securities, other investments and short-term investments is presented below:

December 31, 2014	Less Than One Year					One Year or Greater				Total
(in millions)	Fair Value			Unrealized Losses		Fair Value		Unrealized Losses		Fair Value			Unrealized Losses
Fixed maturities
USD denominated:
U.S. Governments	$	55.0		$	0.2	$	15.7	$	0.1	$	70.7		$	0.3
Non-U.S. Governments		36.5			0.4		5.2		0.2		41.7			0.6
Obligations of states and political subdivisions		10.4			0.1		16.6		0.2		27.0			0.3
Credit-Financial		195.7			2.2		11.1		0.1		206.8			2.3
Credit-Industrial		240.8			3.3		12.2		0.2		253.0			3.5
Credit-Utility		63.1			3.8		1.9		0.1		65.0			3.9
Structured securities:
CMO/MBS-agency		10.1			0.1		19.2		0.6		29.3			0.7
CMBS		49.3			0.1		6.0		0.1		55.3			0.2
ABS		129.2			0.7		8.1		0.3		137.3			1.0
Foreign denominated:
Governments		123.7			9.3		11.2		0.1		134.9			9.4
Credit		190.8			18.7		0.9		0.2		191.7			18.9
Total fixed maturities		1,104.6			38.9		108.1		2.2		1,212.7			41.1
Equity securities		53.6			5.1		—		—		53.6			5.1
Other investments		(0.9	)		1.3		—		—		(0.9	)		1.3
Short-term investments		—			—		—		—		—			—
Total	$	1,157.3		$	45.3	$	108.1	$	2.2	$	1,265.4		$	47.5

December 31, 2013	Less Than One Year					One Year or Greater				Total
(in millions)	Fair Value			Unrealized Losses		Fair Value		Unrealized Losses		Fair Value			Unrealized Losses
Fixed maturities
USD denominated:
U.S. Governments	$	55.3		$	0.5	$	—	$	—	$	55.3		$	0.5
Non-U.S. Governments		36.3			1.0		—		—		36.3			1.0
Obligations of states and political subdivisions ⁽²⁾		154.6			8.8		3.1		—		157.7			8.8
Credit-Financial		88.7			1.7		2.4		0.1		91.1			1.8
Credit-Industrial		85.7			2.0		2.9		0.2		88.6			2.2
Credit-Utility		21.2			0.7		1.9		0.1		23.1			0.8
Structured securities:
CMO/MBS-agency		58.4			1.2		5.6		0.5		64.0			1.7
CMBS⁽²⁾		24.2			1.0		1.1		—		25.3			1.0
ABS		59.1			0.1		5.6		0.5		64.7			0.6
Foreign denominated:
Governments		170.5			5.9		—		—		170.5			5.9
Credit		125.3			4.8		—		—		125.3			4.8
Total fixed maturities		879.3			27.7		22.6		1.4		901.9			29.1
Equity securities		25.5			1.2		—		—		25.5			1.2
Other investments		(1.3	)		1.3		—		—		(1.3	)		1.3
Short-term investments ⁽¹⁾		4.5			—		—		—		4.5			—
Total	$	908.0		$	30.2	$	22.6	$	1.4	$	930.6		$	31.6

⁽¹⁾	Unrealized losses less than one year are less than $0.1 million.

⁽²⁾	Unrealized losses one year or greater are less than $0.1 million.

Schedule of Investment Income and Expenses

Investment income and expenses were as follows:

	For the Years Ended December 31,
(in millions)	2014			2013			2012
Investment income:
Interest and dividends on fixed maturities	$	76.3		$	87.7		$	105.9
Dividends on equity securities		15.8			17.7			15.2
Interest on short-term and other investments		5.3			5.0			7.3
Other		(1.0	)		(1.0	)		(0.4	)
Investment income		96.4			109.4			128.0
Investment expenses		(9.8	)		(9.4	)		(9.2	)
Net investment income	$	86.6		$	100.0		$	118.8

Schedule of Company's Gross Realized Investment Gains (Losses)

The following table presents our gross realized investment gains (losses) and other:

	For the Years Ended December 31,
(in millions)	2014			2013			2012
Realized gains
Fixed maturities	$	17.0		$	33.5		$	27.2
Equity securities		29.2			59.1			0.4
Other investments		44.8			38.9			21.5
Short-term investments		0.1			0.1			0.5
Other assets		2.0			—			4.8
Gain on sale of real estate holdings		43.3			—			—
Gross realized investment gains and other		136.4			131.6			54.4
Realized losses
Fixed maturities		(12.2	)		(19.6	)		(9.1	)
Equity securities		(0.6	)		(1.4	)		(0.5	)
Other investments		(21.8	)		(30.8	)		(15.1	)
Short-term investments		(0.9	)		(0.7	)		(0.3	)
Other assets		(4.6	)		—			—
Other-than-temporary impairment losses on fixed maturities		(1.2	)		(6.0	)		(1.5	)
Other-than-temporary impairment losses on equity securities		(1.1	)		(1.8	)		(2.2	)
Gross realized investment and other losses		(42.4	)		(60.3	)		(28.7	)
Net realized investment gains and other	$	94.0		$	71.3		$	25.7

Schedule of Realized Gains (Losses) and Changes in Unrealized Appreciation (Depreciation)

Realized gains (losses) and changes in unrealized appreciation (depreciation) related to fixed maturity and equity security investments are summarized as follows:

(in millions)	Fixed Maturities			Equity Maturities			Other Investments			Other			Real Estate Holdings		Tax Effects			Total
Year Ended December 31, 2014
Realized before impairments	$	4.8		$	28.6		$	23.0		$	(3.4	)	$	43.3	$	(34.0	)	$	62.3
Realized - impairments		(1.2	)		(1.1	)		—			—			—		0.8			(1.5	)
Change in unrealized		(30.5	)		(8.4	)		2.5			—			—		3.1			(33.3	)
Year Ended December 31, 2013
Realized before impairments	$	13.9		$	57.7		$	8.1		$	(0.6	)	$	—	$	(26.2	)	$	52.9
Realized - impairments		(6.0	)		(1.8	)		—			—			—		2.7			(5.1	)
Change in unrealized		(102.6	)		39.5			4.5			—			—		18.4			(40.2	)
Year Ended December 31, 2012
Realized before impairments	$	18.1		$	(0.1	)	$	6.4		$	5.0		$	—	$	(7.2	)	$	22.2
Realized - impairments		(1.5	)		(2.2	)		—			—			—		1.3			(2.4	)
Change in unrealized		39.5			35.9			(2.4	)		—			—		(20.4	)		52.6

Financial Assets Measured at Fair Value on Recurring Basis

Based on an analysis of the inputs, our financial assets measured at fair value on a recurring basis have been categorized as follows:

			Fair Value Measurements at Reporting Date Using
(in millions)	December 31, 2014		Level 1 ^(a)		Level 2 ^(b)		Level 3 ^(c)
Fixed maturities
USD denominated:
U.S. Governments	$	185.0	$	99.2	$	85.8	$	—
Non-U.S. Governments		79.9		—		79.9		—
Obligations of states and political subdivisions		490.7		—		490.7		—
Credit-Financial		518.1		—		518.1		—
Credit-Industrial		499.6		—		499.6		—
Credit-Utility		142.0		—		142.0		—
Structured securities:
CMO/MBS-agency		175.3		—		175.3		—
CMO/MBS-non agency		14.0		—		14.0		—
CMBS		180.0		—		180.0		—
ABS		221.0		—		221.0		—
Foreign denominated:
Governments		140.2		—		140.2		—
Credit		194.9		—		194.9		—
Total fixed maturities		2,840.7		99.2		2,741.5		—
Equity securities		486.3		485.4		—		0.9
Other investments		97.3		—		97.3		—
Short-term investments		275.8		273.9		1.9		—
Other assets		—		—		—		—
	$	3,700.1	$	858.5	$	2,840.7	$	0.9

^(a)	Quoted prices in active markets for identical assets

^(b)	Significant other observable inputs

^(c)	Significant unobservable inputs

			Fair Value Measurements at Reporting Date Using
(in millions)	December 31, 2013		Level 1 ^(a)		Level 2 ^(b)		Level 3 ^(c)
Fixed maturities
USD denominated:
U.S. Governments	$	275.3	$	143.8	$	131.5	$	—
Non-U.S. Governments		60.2		—		60.2		—
Obligations of states and political subdivisions		577.8		—		577.8		—
Credit-Financial		439.9		—		439.9		—
Credit-Industrial		397.1		—		397.1		—
Credit-Utility		166.6		—		166.6		—
Structured securities:
CMO/MBS-agency		226.9		—		226.9		—
CMO/MBS-non agency		20.2		—		20.2		—
CMBS		164.8		—		164.8		—
ABS		123.8		—		123.8		—
Foreign denominated:
Governments		206.7		—		206.7		—
Credit		155.1		—		155.1		—
Total fixed maturities		2,814.4		143.8		2,670.6		—
Equity securities		534.3		476.7		56.3		1.3
Other investments		117.8		—		117.8		—
Short-term investments		351.6		347.0		4.6		—
Other assets		2.6		—		—		2.6
	$	3,820.7	$	967.5	$	2,849.3	$	3.9

^(a)	Quoted prices in active markets for identical assets

^(b)	Significant other observable inputs

^(c)	Significant unobservable inputs

Schedule of Reconciliation of Beginning and Ending Balances for Investments Categorized as Level 3

A reconciliation of the beginning and ending balances for the investments categorized as Level 3 are as follows:

Fair Value Measurements Using Observable Inputs (Level 3)

(in millions)	Equity Securities			Other Assets			Total
Beginning balance, January 1, 2014	$	1.3		$	2.6		$	3.9
Transfers into Level 3		—			—			—
Transfers out of Level 3		—			—			—
Total gains or losses (realized/unrealized):
Included in net income (loss)		—			—			—
Included in other comprehensive income (loss)		0.1			—			0.1
Purchases, issuances, sales, and settlements
Purchases		—			—			—
Issuances		—			—			—
Sales		(0.5	)		—			(0.5	)
Settlements		—			(2.6	)		(2.6	)
Ending balance, December 31, 2014	$	0.9		$	—		$	0.9
Amount of total gains or losses for the year included in net income (loss) attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2014	$	—		$	—		$	—

(in millions)	Equity Securities			Other Assets			Total
Beginning balance, January 1, 2013	$	1.8		$	6.9		$	8.7
Transfers into Level 3		—			—			—
Transfers out of Level 3		—			—			—
Total gains or losses (realized/unrealized):
Included in net income (loss)		0.1			—			0.1
Included in other comprehensive income (loss)		—			—			—
Purchases, issuances, sales, and settlements
Purchases		—			—			—
Issuances		—			—			—
Sales		(0.6	)		—			(0.6	)
Settlements		—			(4.3	)		(4.3	)
Ending balance, December 31, 2013	$	1.3		$	2.6		$	3.9
Amount of total gains or losses for the year included in net income (loss) attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2013	$	—		$	—		$	—