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INVESTMENT INCOME
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
INVESTMENT INCOME
INVESTMENT INCOME
Due and accrued income was excluded from investment income on the following bases:
•
Mortgage loans - on loans in foreclosure or where collection of interest is uncertain.
•
Securities - as recommended by Holdings’ Investments Under Surveillance Committee.
•
Real Estate - where rent is in arrears more than three months or is deemed uncollectible.
The total amount of due and accrued income excluded was $0.0 million and $0.1 million as of December 31, 2019 and 2018, respectively.
Net Investment Income
The following table summarizes the net investment income for December 31, 2019, 2018 and 2017 (in millions):
 
Years Ended December 31,
 
2019
 
2018
 
2017
 
(in millions)
Fixed maturities
$
46.4

 
$
39.8

 
$
34.2

Affiliated dividends
6.7

 
8.2

 
6.2

Mortgage loans
0.6

 
0.6

 
0.6

Policy loans
2.9

 
2.2

 
1.5

Cash and short-term instruments
1.8

 
1.3

 
0.5

Investment expense and other
(2.7
)
 
(3.7
)
 
(3.5
)
Amortization of IMR
—

 
0.8

 
0.7

Net investment income
$
55.7

 
$
49.2

 
$
40.2