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Consolidated Balance Sheets (unaudited) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Investments:    
Fixed maturity securities available for sale, at fair value (amortized cost - $7,262.5 and $6,920.8 at September 30, 2023 and December 31, 2022, respectively) $ 6,530.5 $ 6,283.7
Equity securities at fair value 256.5 281.3
Commercial mortgage loans on real estate, at amortized cost (net of allowances for credit losses of $4.4 and $1.8 at September 30, 2023 and December 31, 2022, respectively) 322.0 295.6
Short-term investments 290.4 155.5
Other investments 523.3 508.4
Total investments 7,922.7 7,524.5
Cash and cash equivalents 1,425.3 1,536.7
Premiums and accounts receivable (net of allowances for credit losses of $7.5 and $9.2 at September 30, 2023 and December 31, 2022, respectively) 2,410.2 2,406.4
Reinsurance recoverables (net of allowances for credit losses of $4.8 and $5.4 at September 30, 2023 and December 31, 2022, respectively) 6,683.8 6,999.4
Accrued investment income 93.5 85.1
Deferred acquisition costs 9,903.8 9,677.1
Property and equipment, net 664.4 645.1
Goodwill 2,605.2 2,603.0
Value of business acquired 124.7 262.8
Other intangible assets, net 589.9 638.9
Other assets (net of allowances for credit losses of $0.0 and $1.7 at September 30, 2023 and December 31, 2022, respectively) [1] 785.3 738.3
Total assets 33,208.8 33,117.3
Liabilities    
Future policy benefits and expenses 511.0 507.9
Unearned premiums 20,119.9 19,802.4
Claims and benefits payable 2,010.8 2,210.0
Commissions payable 602.0 647.5
Reinsurance balances payable 420.0 492.8
Funds held under reinsurance 403.0 366.6
Accounts payable and other liabilities (including allowances for credit losses of $9.4 and $10.3 at September 30, 2023 and December 31, 2022, respectively, for the unsecured portion of the high deductible recoverables) 2,571.5 2,731.5
Debt 2,080.0 2,129.9
Total liabilities 28,718.2 28,888.6
Commitments and contingencies (Note 15)
Stockholders’ equity    
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 55,034,013 and 55,126,470 shares issued and 52,737,924 and 52,830,381 shares outstanding at September 30, 2023 and December 31, 2022, respectively 0.6 0.6
Additional paid-in capital 1,673.1 1,637.8
Retained earnings 3,990.7 3,699.3
Accumulated other comprehensive loss (1,051.0) (986.2)
Treasury stock, at cost; 2,296,089 shares at September 30, 2023 and December 31, 2022 (122.8) (122.8)
Total equity 4,490.6 4,228.7
Total liabilities and equity $ 33,208.8 $ 33,117.3
[1] Other assets as of September 30, 2023 includes the assets of the Company’s Miami, Florida property which were reclassified from property and equipment, net, when held-for-sale criteria was met in second quarter 2023. Refer to Note 4 for additional information.