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Segment Information
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company conducts and manages its business in four reporting segments. The three operating segments, representing the major lines of business, are: (1) Property & Casualty (primarily personal lines of auto and property insurance products), (2) Life & Retirement (primarily tax-qualified fixed and variable annuities as well as life insurance products), and (3) Supplemental & Group Benefits (primarily cancer, heart, hospital, supplemental disability, accident, short-term and long-term group disability, and group term life coverages). 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 fourth segment, Corporate & Other. In addition to ongoing transactions such as corporate debt service, net investment gains (losses) and certain public company expenses, such items in Corporate & Other have also included corporate debt retirement costs, when applicable.
In 2021 and prior, the Company conducted and managed its business through four operating segments: (1) Property & Casualty, (2) Supplemental, (3) Retirement, and (4) Life. The change in operating segments in 2022 aligns with leadership assignments and how the Company makes operating decisions and assesses performance as well as maintaining discrete financial information to evaluate performance and allocate resources. Accordingly, the presentation of prior period segment information has been reclassified to conform to the current year's presentation.
Summarized financial information for these segments is as follows:
($ in millions)Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Net premiums and contract charges earned
Property & Casualty$152.4 $153.3 $452.5 $464.1 
Life & Retirement37.1 40.4 109.7 118.3 
Supplemental & Group Benefits68.3 31.7 207.3 96.4 
Total$257.8 $225.4 $769.5 $678.8 
Net investment income
Property & Casualty$8.0 $11.3 $22.9 $43.8 
Life & Retirement81.4 85.8 254.0 247.4 
Supplemental & Group Benefits8.7 7.2 25.4 19.0 
Corporate & Other— — — — 
Intersegment eliminations(0.5)(0.6)(1.6)(1.8)
Total$97.6 $103.7 $300.7 $308.4 
Net income (loss)
Property & Casualty$(2.5)$(4.7)$(19.4)$42.5 
Life & Retirement12.7 19.1 41.8 47.0 
Supplemental & Group Benefits19.2 11.5 43.6 34.8 
Corporate & Other(15.5)(9.6)(50.1)(22.0)
Total$13.9 $16.3 $15.9 $102.3 
($ in millions)September 30, 2022December 31, 2021
Assets
Property & Casualty$1,052.1 $1,243.4 
Life & Retirement10,719.4 12,064.7 
Supplemental & Group Benefits1,431.7 858.8 
Corporate & Other177.9 281.8 
Intersegment eliminations(67.0)(64.8)
Total$13,314.1 $14,383.9