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Investments (Tables)
 6 Months Ended
Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt and Equity Securities Reconciliation The following tables present the composition of our investment portfolio by major security type. Our securities are reported in our consolidated balance sheets at fair value. The changes in fair value for our fixed-maturity securities (other than hybrid securities) are reported as a component of accumulated other comprehensive income (loss), net of deferred income taxes, in our consolidated balance sheets. The net holding period gains (losses) reported below represent the inception-to-date changes in fair value of the securities. The changes in the net holding period gains (losses) between periods for the hybrid securities and equity securities are recorded as a component of net realized gains (losses) on securities in our consolidated statements of comprehensive income.
($ in millions)CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Net
Holding
Period
Gains
(Losses)		Fair
Value		% of
Total
Fair
Value
June 30, 2022
Available-for-sale securities:
Fixed maturities:
U.S. government obligations$19,832.3 $3.7 $(1,116.8)$0 $18,719.2 36.0 %
State and local government obligations2,281.9 0.6 (147.1)0 2,135.4 4.1 
Foreign government obligations17.7 0 (1.3)0 16.4 0.1 
Corporate debt securities10,869.6 1.6 (655.0)(48.4)10,167.8 19.6 
Residential mortgage-backed securities826.5 0.5 (10.7)(17.0)799.3 1.5 
Commercial mortgage-backed securities6,739.4 1.2 (646.0)0 6,094.6 11.7 
Other asset-backed securities5,239.4 0.1 (201.7)(1.8)5,036.0 9.7 
Redeemable preferred stocks222.0 0 (5.5)(12.7)203.8 0.4 
Total fixed maturities46,028.8 7.7 (2,784.1)(79.9)43,172.5 83.1 
Short-term investments4,611.8 0 0 0 4,611.8 8.9 
       Total available-for-sale securities50,640.6 7.7 (2,784.1)(79.9)47,784.3 92.0 
Equity securities:
Nonredeemable preferred stocks1,522.5 0 0 (162.0)1,360.5 2.6 
Common equities783.6 0 0 2,001.1 2,784.7 5.4 
       Total equity securities2,306.1 0 0 1,839.1 4,145.2 8.0 
  Total portfolio1
$52,946.7 $7.7 $(2,784.1)$1,759.2 $51,929.5 100.0 %
($ in millions)CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Net
Holding
Period
Gains
(Losses)		Fair
Value		% of
Total
Fair
Value
June 30, 2021
Available-for-sale securities:
Fixed maturities:
U.S. government obligations$19,339.3 $171.3 $(72.9)$0 $19,437.7 38.1 %
State and local government obligations2,379.1 64.7 (3.3)0 2,440.5 4.8 
Foreign government obligations12.7 0 0 0 12.7 0.1 
Corporate debt securities10,314.8 372.1 (9.9)1.2 10,678.2 20.9 
Residential mortgage-backed securities666.9 4.6 (1.1)0.9 671.3 1.3 
Commercial mortgage-backed securities5,628.2 91.4 (11.5)0 5,708.1 11.2 
Other asset-backed securities3,865.9 34.6 (1.5)0 3,899.0 7.7 
Redeemable preferred stocks171.1 1.7 (1.4)12.1 183.5 0.4 
Total fixed maturities42,378.0 740.4 (101.6)14.2 43,031.0 84.5 
Short-term investments1,710.6 0 0 0 1,710.6 3.3 
       Total available-for-sale securities44,088.6 740.4 (101.6)14.2 44,741.6 87.8 
Equity securities:
Nonredeemable preferred stocks1,511.2 0 0 98.6 1,609.8 3.2 
Common equities1,238.4 0 0 3,353.0 4,591.4 9.0 
       Total equity securities2,749.6 0 0 3,451.6 6,201.2 12.2 
  Total portfolio1
$46,838.2 $740.4 $(101.6)$3,465.8 $50,942.8 100.0 %

Note: Included in the table above is a $52.5 million fair value ($25.0 million cost) reclassification from nonredeemable preferred stock to common equities to reflect the prior year conversion of a security and to conform to the current year classification. 
($ in millions)CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Net
Holding
Period
Gains
(Losses)		Fair
Value		% of
Total
Fair
Value
December 31, 2021
Available-for-sale securities:
Fixed maturities:
U.S. government obligations$18,586.1 $92.9 $(190.8)$0 $18,488.2 35.9 %
State and local government obligations2,162.6 36.7 (14.0)0 2,185.3 4.2 
Foreign government obligations17.9 0 0 0 17.9 0.1 
Corporate debt securities10,526.2 202.6 (33.4)(3.3)10,692.1 20.7 
Residential mortgage-backed securities787.7 2.3 (0.6)0.6 790.0 1.5 
Commercial mortgage-backed securities6,561.0 38.9 (64.3)0 6,535.6 12.7 
Other asset-backed securities4,981.8 13.3 (12.4)(0.4)4,982.3 9.7 
Redeemable preferred stocks170.9 0.7 (0.5)10.6 181.7 0.4 
Total fixed maturities43,794.2 387.4 (316.0)7.5 43,873.1 85.2 
Short-term investments942.6 0 0 0 942.6 1.8 
       Total available-for-sale securities44,736.8 387.4 (316.0)7.5 44,815.7 87.0 
Equity securities:
Nonredeemable preferred stocks1,571.8 0 0 68.1 1,639.9 3.2 
Common equities1,264.1 0 0 3,794.4 5,058.5 9.8 
       Total equity securities2,835.9 0 0 3,862.5 6,698.4 13.0 
  Total portfolio1
$47,572.7 $387.4 $(316.0)$3,870.0 $51,514.1 100.0 %
1 Includes $0, $412.1 million, and $143.4 million of net unsettled security purchase transactions at June 30, 2022 and 2021, and December 31, 2021, respectively, with the offsetting payable included in other liabilities.
The total fair value of the portfolio at June 30, 2022 and 2021, and December 31, 2021, included $4.9 billion, $3.3 billion, and $4.2 billion, respectively, of securities held in a consolidated, non-insurance subsidiary of the holding company, net of unsettled security transactions.
Hybrid Instruments Table Certain securities in our fixed-maturity portfolio are accounted for as hybrid securities because they contain embedded derivatives that are not deemed to be clearly and closely related to the host investments. These securities are reported at fair value:
 June 30,
(millions)20222021December 31, 2021
Fixed Maturities:
Corporate debt securities$513.8 $296.7 $479.1 
Residential mortgage-backed securities604.3 163.1 536.2 
Other asset-backed securities62.3 66.9 89.2 
Redeemable preferred stocks136.3 132.2 130.8 
Total hybrid securities$1,316.7 $658.9 $1,235.3 
Investments Classified by Contractual Maturity Date The composition of fixed maturities by maturity at June 30, 2022, was:
(millions)CostFair Value
Less than one year$5,294.8 $5,210.9 
One to five years27,925.6 26,532.2 
Five to ten years12,763.0 11,389.5 
Ten years or greater45.4 39.9 
Total$46,028.8 $43,172.5 
Schedule of Unrealized Loss on Investments The following tables show the composition of gross unrealized losses by major security type and by the length of time that individual securities have been in a continuous unrealized loss position:
 Total No. of Sec.Total
Fair
Value		Gross
Unrealized
Losses		Less than 12 Months12 Months or Greater
($ in millions)No. of Sec.Fair
Value		Unrealized
Losses		No. of Sec.Fair
 Value		Unrealized
Losses
June 30, 2022
U.S. government obligations140 $17,907.2 $(1,116.8)114 $15,254.3 $(874.0)26 $2,652.9 $(242.8)
State and local government obligations331 1,954.9 (147.1)318 1,816.1 (126.1)13 138.8 (21.0)
Foreign government obligations1 16.4 (1.3)1 16.4 (1.3)0 0 0 
Corporate debt securities466 9,174.2 (655.0)435 8,843.2 (612.0)31 331.0 (43.0)
Residential mortgage-backed securities39 183.7 (10.7)32 172.1 (8.8)7 11.6 (1.9)
Commercial mortgage-backed securities254 6,058.4 (646.0)234 5,624.1 (569.8)20 434.3 (76.2)
Other asset-backed securities289 4,915.7 (201.7)269 4,611.8 (188.9)20 303.9 (12.8)
Redeemable preferred stocks5 67.5 (5.5)4 56.7 (3.8)1 10.8 (1.7)
Total fixed maturities1,525 $40,278.0 $(2,784.1)1,407 $36,394.7 $(2,384.7)118 $3,883.3 $(399.4)

 Total No. of Sec.Total
Fair
Value		Gross
Unrealized
Losses		Less than 12 Months12 Months or Greater
($ in millions)No. of Sec.Fair
Value		Unrealized
Losses		No. of Sec.Fair
 Value		Unrealized
Losses
June 30, 2021
U.S. government obligations59 $10,629.4 $(72.9)55 $10,162.4 $(66.8)4 $467.0 $(6.1)
State and local government obligations81 436.2 (3.3)72 400.0 (2.6)9 36.2 (0.7)
Corporate debt securities292 1,142.5 (9.9)288 1,065.2 (9.5)4 77.3 (0.4)
Residential mortgage-backed securities77 192.2 (1.1)64 172.4 (0.7)13 19.8 (0.4)
Commercial mortgage-backed securities68 1,272.0 (11.5)61 1,006.9 (10.5)7 265.1 (1.0)
Other asset-backed securities119 1,073.6 (1.5)113 1,043.7 (1.3)6 29.9 (0.2)
Redeemable preferred stocks1 11.1 (1.4)0 0 0 1 11.1 (1.4)
Total fixed maturities697 $14,757.0 $(101.6)653 $13,850.6 $(91.4)44 $906.4 $(10.2)

 Total No. of Sec.Total
Fair
Value		Gross
Unrealized
Losses		Less than 12 Months12 Months or Greater
($ in millions)No. of Sec.Fair
Value		Unrealized
Losses		No. of Sec.Fair
 Value		Unrealized
Losses
December 31, 2021
U.S. government obligations92 $14,745.8 $(190.8)85 $13,790.8 $(158.5)7 $955.0 $(32.3)
State and local government obligations127 954.2 (14.0)122 927.3 (13.1)5 26.9 (0.9)
Corporate debt securities220 3,496.6 (33.4)219 3,491.7 (33.3)1 4.9 (0.1)
Residential mortgage-backed securities20 138.6 (0.6)14 135.4 (0.5)6 3.2 (0.1)
Commercial mortgage-backed securities168 4,315.4 (64.3)165 4,295.0 (63.9)3 20.4 (0.4)
Other asset-backed securities178 3,204.7 (12.4)176 3,200.6 (12.3)2 4.1 (0.1)
Redeemable preferred stocks1 12.0 (0.5)0 0 0 1 12.0 (0.5)
Total fixed maturities806 $26,867.3 $(316.0)781 $25,840.8 $(281.6)25 $1,026.5 $(34.4)
Realized Gain (Loss) on Investments The components of net realized gains (losses) for the three and six months ended June 30, were:
 Three MonthsSix Months
(millions)2022202120222021
Gross realized gains on security sales
Available-for-sale securities:
U.S. government obligations$1.3 $11.3 $4.6 $77.9 
State and local government obligations0 14.1 0 44.3 
Corporate and other debt securities2.0 40.1 6.5 60.8 
Residential mortgage-backed securities0.6 0.3 0.7 0.3 
Commercial mortgage-backed securities0 9.5 0 39.3 
Other asset-backed securities0 0 0.1 0.7 
Redeemable preferred stocks0 1.5 0 1.5 
Total available-for-sale securities3.9 76.8 11.9 224.8 
Equity securities:
Nonredeemable preferred stocks0.2 6.4 17.5 23.7 
Common equities830.6 345.0 831.1 346.1 
Total equity securities830.8 351.4 848.6 369.8 
   Subtotal gross realized gains on security sales834.7 428.2 860.5 594.6 
Gross realized losses on security sales
Available-for-sale securities:
U.S. government obligations(164.3)(6.9)(233.5)(26.5)
State and local government obligations0 (2.8)(1.0)(3.0)
Corporate and other debt securities(30.1)(3.3)(37.8)(5.4)
Commercial mortgage-backed securities(13.8)(0.5)(13.8)(1.1)
Other asset-backed securities(2.0)(0.3)(2.1)(0.4)
Short-term investments(0.3)0 (0.3)0 
Total available-for-sale securities(210.5)(13.8)(288.5)(36.4)
Equity securities:
Nonredeemable preferred stocks(0.2)(0.4)(1.9)(0.4)
Common equities(77.4)(3.9)(78.0)(3.9)
Total equity securities(77.6)(4.3)(79.9)(4.3)
   Subtotal gross realized losses on security sales(288.1)(18.1)(368.4)(40.7)
Net realized gains (losses) on security sales
Available-for-sale securities:
U.S. government obligations(163.0)4.4 (228.9)51.4 
State and local government obligations0 11.3 (1.0)41.3 
Corporate and other debt securities(28.1)36.8 (31.3)55.4 
Residential mortgage-backed securities0.6 0.3 0.7 0.3 
Commercial mortgage-backed securities(13.8)9.0 (13.8)38.2 
Other asset-backed securities(2.0)(0.3)(2.0)0.3 
Redeemable preferred stocks0 1.5 0 1.5 
Short-term investments(0.3)0 (0.3)0 
Total available-for-sale securities(206.6)63.0 (276.6)188.4 
Equity securities:
Nonredeemable preferred stocks0 6.0 15.6 23.3 
Common equities753.2 341.1 753.1 342.2 
Total equity securities753.2 347.1 768.7 365.5 
  Subtotal net realized gains (losses) on security sales546.6 410.1 492.1 553.9 
Net holding period gains (losses)
Hybrid securities(48.4)9.9 (87.4)(1.0)
Equity securities(1,673.8)44.3 (2,023.4)496.7 
  Subtotal net holding period gains (losses)(1,722.2)54.2 (2,110.8)495.7 
Other asset impairment(2.1)(2.5)(4.3)(2.5)
     Total net realized gains (losses) on securities$(1,177.7)$461.8 $(1,623.0)$1,047.1 
Components of Equity Realized Gains (Losses)
The following table reflects our holding period realized gains (losses) recognized on equity securities held at the respective quarter ends:
Three MonthsSix Months
(millions)2022202120222021
Total net gains (losses) recognized during the period on equity securities$(920.6)$391.4 $(1,254.7)$862.2 
Less: Net gains (losses) recognized on equity securities sold during the period753.2 347.1 768.7 365.5 
Net holding period gains (losses) recognized during the period on equity securities held at period end$(1,673.8)$44.3 $(2,023.4)$496.7 
Components of Net Investment Income The components of net investment income for the three and six months ended June 30, were: 
Three MonthsSix Months
(millions)2022202120222021
Available-for-sale securities:
   Fixed maturities:
U.S. government obligations$67.9 $37.4 $119.3 $67.8 
State and local government obligations10.3 11.5 19.5 24.9 
Foreign government obligations0 0 0.1 0 
Corporate debt securities75.5 73.2 143.6 158.4 
Residential mortgage-backed securities9.6 2.8 14.4 6.2 
Commercial mortgage-backed securities46.5 34.4 89.8 70.2 
Other asset-backed securities39.3 15.1 64.4 31.0 
Redeemable preferred stocks3.0 2.3 5.5 4.8 
Total fixed maturities252.1 176.7 456.6 363.3 
   Short-term investments4.4 0.7 4.8 2.2 
    Total available-for-sale securities256.5 177.4 461.4 365.5 
Equity securities:
Nonredeemable preferred stocks18.1 17.3 36.3 35.2 
Common equities17.8 16.0 36.9 30.2 
    Total equity securities35.9 33.3 73.2 65.4 
           Investment income292.4 210.7 534.6 430.9 
           Investment expenses(5.9)(6.3)(11.6)(11.9)
         Net investment income$286.5 $204.4 $523.0 $419.0