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Investments (Tables)
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Components of net investment income
The components of net investment income for the following periods were as follows:
($ in millions)Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Fixed maturity securities$63.9 $59.8 $184.5 $177.2 
Equity securities1.8 1.4 7.1 3.8 
Limited partnership interests5.1 16.8 31.3 51.1 
Short-term and other investments2.8 2.8 8.2 8.5 
Investment expenses(2.7)(2.7)(7.8)(7.3)
Net investment income - investment portfolio
70.9 78.1 223.3 233.3 
Investment income - deposit asset on reinsurance26.7 25.6 77.4 75.1 
Total net investment income
$97.6 $103.7 $300.7 $308.4 
Schedule of net investment losses
Net investment losses for the following periods were as follows:
($ in millions)Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Fixed maturity securities$(10.7)$(4.0)$(15.9)$(7.9)
Equity securities(4.4)(1.0)(32.5)0.7 
Short-term investments and other2.3 (1.5)4.6 (3.4)
Net investment losses$(12.8)$(6.5)$(43.8)$(10.6)
The following table reconciles net investment losses by transaction type:
($ in millions)Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Credit loss impairments$(0.6)$(6.6)$(2.8)$(7.7)
Intent-to-sell impairments(6.2)— (7.6)(2.1)
Total impairments(6.8)(6.6)(10.4)(9.8)
Sales and other, net(3.9)2.7 (3.9)2.2 
Change in fair value - equity securities(4.4)(1.1)(34.1)0.4 
Change in fair value and gains (losses) realized
on settlements - derivatives
2.3 (1.5)4.6 (3.4)
Net investment losses$(12.8)$(6.5)$(43.8)$(10.6)
Schedule of allowance for credit loss impairments on fixed maturity securities
The following table presents changes in the allowance for credit loss impairments on fixed maturity securities classified as available for sale for the category of other asset-backed securities (no other categories of fixed maturity securities have an allowance for credit loss impairments):
($ in millions)Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Beginning balance$9.5 $1.1 $7.7 $— 
Credit losses on fixed maturity securities for which credit losses were not previously reported— 6.6 — 7.7 
Net increase related to credit losses previously reported0.6 — 2.8 — 
Reduction of credit allowances related to sales— — — — 
Write-offs— — (0.4)— 
Ending balance$10.1 $7.7 $10.1 $7.7 
Schedule of available-for-sale securities reconciliation Amortized cost, net, gross unrealized investment gains (losses) and fair values of all fixed maturity securities in the portfolio were as follows:
($ in millions)Amortized
Cost, net		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
September 30, 2022
Fixed maturity securities
U.S. Government and federally
sponsored agency obligations:(1)
Mortgage-backed securities
$643.7 $1.5 $66.1 $579.1 
Other, including U.S. Treasury securities
408.3 0.4 66.0 342.7 
Municipal bonds1,440.9 14.5 147.5 1,307.9 
Foreign government bonds37.2 — 1.7 35.5 
Corporate bonds2,228.8 10.0 311.0 1,927.8 
Other asset-backed securities1,145.2 2.9 69.0 1,079.1 
Totals$5,904.1 $29.3 $661.3 $5,272.1 
December 31, 2021
Fixed maturity securities
U.S. Government and federally
sponsored agency obligations:(1)
Mortgage-backed securities$612.1 $51.9 $1.5 $662.5 
Other, including U.S. Treasury securities342.5 27.7 4.3 365.9 
Municipal bonds1,519.7 184.4 0.7 1,703.4 
Foreign government bonds40.2 3.4 — 43.6 
Corporate bonds2,217.7 176.2 5.2 2,388.7 
Other asset-backed securities1,065.5 16.6 6.9 1,075.2 
Totals$5,797.7 $460.2 $18.6 $6,239.3 
(1)    Fair value includes securities issued by Federal National Mortgage Association (FNMA) of $337.5 million and $376.7 million; Federal Home Loan Mortgage Corporation (FHLMC) of $271.1 million and $326.5 million; and Government National Mortgage Association (GNMA) of $90.2 million and $112.1 million as of September 30, 2022 and December 31, 2021, respectively.
Summary of fair value and gross unrealized losses of fixed maturity securities and equity securities in an unrealized loss position Therefore, it was determined that the unrealized losses on the fixed maturity securities presented in the table below were not indicative of any impairments as of September 30, 2022.
($ in millions)12 Months or LessMore than 12 MonthsTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
September 30, 2022
Fixed maturity securities
U.S. Government and federally
sponsored agency obligations:
Mortgage-backed securities$472.2 $51.5 $51.3 $14.6 $523.5 $66.1 
Other
266.6 36.6 58.0 29.4 324.6 66.0 
Municipal bonds1,035.5 143.5 9.7 4.0 1,045.2 147.5 
Foreign government bonds
35.4 1.7 — — 35.4 1.7 
Corporate bonds
1,496.6 280.0 80.3 31.0 1,576.9 311.0 
Other asset-backed securities
776.2 52.4 213.9 16.6 990.1 69.0 
Total
$4,082.5 $565.7 $413.2 $95.6 $4,495.7 $661.3 
Number of positions with a
   gross unrealized loss
3,002 303 3,305 
Fair value as a percentage of total fixed
   maturity securities at fair value
77.4 %7.8 %85.2 %
December 31, 2021
Fixed maturity securities
U.S. Government and federally
sponsored agency obligations:
Mortgage-backed securities$67.4 $1.3 $3.9 $0.2 $71.3 $1.5 
Other59.5 1.7 35.1 2.6 94.6 4.3 
Municipal bonds56.8 0.7 0.6 — 57.4 0.7 
Foreign government bonds— — — — — — 
Corporate bonds220.7 3.8 44.1 1.4 264.8 5.2 
Other asset-backed securities379.0 3.8 128.2 3.1 507.2 6.9 
Total
$783.4 $11.3 $211.9 $7.3 $995.3 $18.6 
Number of positions with a
   gross unrealized loss
516 122 638 
Fair value as a percentage of total fixed
   maturity securities at fair value
12.6 %3.4 %16.0 %
Distribution of the company's fixed maturity portfolio by estimated expected maturity
The following table presents the distribution of the Company’s fixed maturity securities portfolio by estimated expected maturity. Estimated expected maturities differ from contractual maturities, reflecting assumptions regarding borrowers' utilization of the right to call or prepay obligations with or without call or prepayment penalties. For structured securities, estimated expected maturities consider broker-dealer survey prepayment assumptions and are verified for consistency with the interest rate and economic environments.
($ in millions)Percent of Total Fair ValueSeptember 30, 2022
September 30, 2022December 31, 2021Fair
Value		Amortized
Cost, net
Estimated expected maturity:
Due in 1 year or less3.9 %4.0 %$204.0 $204.6 
Due after 1 year through 5 years26.0 27.0 1,369.3 1,439.0 
Due after 5 years through 10 years28.3 27.7 1,492.6 1,621.7 
Due after 10 years through 20 years25.5 23.9 1,348.3 1,551.8 
Due after 20 years16.3 17.4 857.9 1,087.0 
Total100.0 %100.0 %$5,272.1 $5,904.1 
Average option-adjusted duration, in years6.56.7
Proceeds received from sales of fixed maturities and equity securities
Proceeds received from sales of fixed maturity and equity securities, each determined using the specific identification method, and gross gains and gross losses realized as a result of those sales for each period were as follows:
($ in millions)Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Fixed maturity securities
Proceeds received
$164.6 $155.4 $529.9 $319.2 
Gross gains realized
1.1 3.2 4.7 6.2 
Gross losses realized
(5.0)(0.7)(10.2)(4.3)
Equity securities
Proceeds received
$0.2 $0.3 $6.0 $1.0 
Gross gains realized
— 0.1 1.7 0.3 
Gross losses realized
— — (0.1)— 
Reconciliation of net unrealized investment gains (losses) on fixed maturity securities and equity securities
The following table reconciles net unrealized investment gains (losses) on fixed maturity securities, net of tax, included in accumulated other comprehensive income (AOCI), before the impact of DAC:
($ in millions)Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Net unrealized investment gains (losses)
   on fixed maturity securities, net of tax
Beginning of period$(283.2)$399.4 $348.9 $439.8 
Change in net unrealized investment gains
   (losses) on fixed maturity securities		(228.0)(34.9)(886.5)(77.0)
Reclassification of net investment losses
   on fixed maturity securities to net income		11.9 3.9 38.3 5.6 
End of period$(499.3)$368.4 $(499.3)$368.4 
Schedule of carrying amounts of equity method limited partnership interests The carrying amounts of EMA limited partnership interests were as follows:
($ in millions)
September 30, 2022December 31, 2021
Commercial mortgage loan funds$601.5 $346.8 
Private equity funds73.4 74.0 
Infrastructure equity funds70.2 58.3 
Infrastructure debt funds67.4 62.4 
Other funds(1)
185.0 171.3 
Total$997.5 $712.8 
(1)Other funds consist primarily of limited partnership interests in corporate mezzanine, venture capital and other fund strategies.
Offsetting assets and liability The following table presents instruments that were subject to a master netting arrangement for the Company.
($ in millions)Gross
Amounts
Offset in the
Consolidated
Balance
Sheets		Net Amounts
of Assets/
Liabilities
Presented
in the
Consolidated
Balance
Sheets		Gross Amounts Not Offset
in the Consolidated
Balance Sheets
Gross
Amounts		Financial
Instruments		Cash
Collateral
Received		Net
Amount
September 30, 2022
Asset derivatives:
Free-standing derivatives$2.0 $— $2.0 $— $1.8 $0.2 
December 31, 2021
Asset derivatives:
Free-standing derivatives$10.7 $— $10.7 $4.5 $6.4 $(0.2)