Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]

The valuation of assets measured at fair value in the Company’s Condensed Consolidated Balance Sheet at December 31, 2011 is summarized below:

	Fair Value Measurements
(Dollars in Millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Fixed Maturities:
U.S. Government and Government Agencies and Authorities	$	153.6	$	338.1	$	—	$	491.7
States and Political Subdivisions	—		1,852.6		—		1,852.6
Corporate Securities:
Bonds and Notes	—		2,107.2		235.1		2,342.3
Redeemable Preferred Stocks	—		75.6		6.1		81.7
Mortgage and Asset-backed	—		4.8		0.3		5.1
Total Investments in Fixed Maturities	153.6		4,378.3		241.5		4,773.4
Equity Securities:
Preferred Stocks:
Finance, Insurance and Real Estate	—		86.7		—		86.7
Other Industries	—		14.9		5.6		20.5
Common Stocks:
Manufacturing	74.7		5.0		3.7		83.4
Other Industries	42.8		—		4.2		47.0
Other Equity Interests:
Exchange Traded Funds	66.6		—		—		66.6
Limited Liability Companies and Limited Partnerships	—		—		93.1		93.1
Total Investments in Equity Securities	184.1		106.6		106.6		397.3
Other Investments:
Trading Securities	4.4		—		—		4.4
Total	$	342.1	$	4,484.9	$	348.1	$	5,175.1

The valuation of assets measured at fair value in the Company’s Condensed Consolidated Balance Sheet at September 30, 2012 is summarized below:

	Fair Value Measurements
(Dollars in Millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Fixed Maturities:
U.S. Government and Government Agencies and Authorities	$	138.9	$	317.7	$	—	$	456.6
States and Political Subdivisions	—		1,436.0		—		1,436.0
Corporate Securities:
Bonds and Notes	—		2,475.5		311.1		2,786.6
Redeemable Preferred Stocks	—		36.9		4.8		41.7
Mortgage and Asset-backed	—		4.5		0.2		4.7
Total Investments in Fixed Maturities	138.9		4,270.6		316.1		4,725.6
Equity Securities:
Preferred Stocks:
Finance, Insurance and Real Estate	—		84.7		—		84.7
Other Industries	—		15.3		6.9		22.2
Common Stocks:
Manufacturing	82.4		5.6		2.2		90.2
Other Industries	71.0		1.2		4.9		77.1
Other Equity Interests:
Exchange Traded Funds	151.8		—		—		151.8
Limited Liability Companies and Limited Partnerships	—		—		119.7		119.7
Total Investments in Equity Securities	305.2		106.8		133.7		545.7
Other Investments:
Trading Securities	4.5		—		—		4.5
Total	$	448.6	$	4,377.4	$	449.8	$	5,275.8

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

The table below presents quantitative information about the significant unobservable inputs utilized by the Company in determining fair values for the vast majority of investments in fixed maturities classified as Level 3.

(Dollars in Millions)	Unobservable Input	Total Fair Value		Range of Unobservable Inputs			Weighted Average Market Yield
Senior Debt	Market Yield	$	142.5	1.2%	-	17.0%	6.6	%
Junior Debt	Market Yield	$	147.9	9%	-	25.1%	14.8	%

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the nine months endedSeptember 30, 2011 is presented below:

	Fixed Maturities								Equity Securities
(Dollars in Millions)	Corporate Bonds and Notes			Redeemable Preferred Stocks		Mortgage and Asset- backed			Preferred and Common Stocks			Other Equity Interests			Total
Balance at Beginning of Period	$	146.2		$	4.5	$	0.4		$	14.7		$	75.2		$	241.0
Total Gains (Losses):
Included in Condensed Consolidated Statement of Income	1.0			—		—			4.6			0.3			5.9
Included in Other Comprehensive Income	2.5			—		—			(5.5		)	(16.6		)	(19.6		)
Purchases	76.1			—		—			1.5			23.9			101.5
Settlements	(44.1		)	—		(0.1		)	(0.4		)	(10.6		)	(55.2		)
Sales	(0.5		)	—		—			(5.7		)	—			(6.2		)
Transfers into Level 3	5.4			—		—			—			—			5.4
Balance at End of Period	$	186.6		$	4.5	$	0.3		$	9.2		$	72.2		$	272.8

Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the three months endedSeptember 30, 2011 is presented below:

	Fixed Maturities								Equity Securities
(Dollars in Millions)	Corporate Bonds and Notes			Redeemable Preferred Stocks			Mortgage and Asset- backed		Preferred and Common Stocks			Other Equity Interests			Total
Balance at Beginning of Period	$	174.8		$	6.4		$	0.3	$	8.5		$	80.1		$	270.1
Total Gains (Losses):
Included in Condensed Consolidated Statement of Income	0.6			—			—		(0.1		)	0.3			0.8
Included in Other Comprehensive Income	1.1			(1.9		)	—		(0.2		)	(13.7		)	(14.7		)
Purchases	20.1			—			—		1.0			8.3			29.4
Settlements	(15.4		)	—			—		—			(2.8		)	(18.2		)
Transfers into Level 3	5.4			—			—		—			—			5.4
Balance at End of Period	$	186.6		$	4.5		$	0.3	$	9.2		$	72.2		$	272.8

Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the nine months endedSeptember 30, 2012 is presented below:

	Fixed Maturities									Equity Securities
(Dollars in Millions)	Corporate Bonds and Notes			Redeemable Preferred Stocks			Mortgage and Asset- backed			Preferred and Common Stocks			Other Equity Interests			Total
Balance at Beginning of Period	$	235.1		$	6.1		$	0.3		$	13.5		$	93.1		$	348.1
Total Gains (Losses):
Included in Condensed Consolidated Statement of Income	3.5			—			—			3.2			0.3			7.0
Included in Other Comprehensive Income	2.2			0.3			—			(0.3		)	3.1			5.3
Purchases	123.1			—			—			1.3			33.5			157.9
Settlements	(52.2		)	(1.6		)	(0.1		)	—			(10.3		)	(64.2		)
Sales	(0.5		)	—			—			(3.7		)	—			(4.2		)
Transfers into Level 3	6.0			—			—			—			—			6.0
Transfers out of Level 3	(6.1		)	—			—			—			—			(6.1		)
Balance at End of Period	$	311.1		$	4.8		$	0.2		$	14.0		$	119.7		$	449.8

Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the three months endedSeptember 30, 2012 is presented below:

	Fixed Maturities							Equity Securities
(Dollars in Millions)	Corporate Bonds and Notes			Redeemable Preferred Stocks		Mortgage and Asset- backed		Preferred and Common Stocks		Other Equity Interests			Total
Balance at Beginning of Period	$	276.3		$	4.6	$	0.2	$	13.4	$	109.9		$	404.4
Total Gains (Losses):
Included in Condensed Consolidated Statement of Income	1.4			—		—		—		—			1.4
Included in Other Comprehensive Income	1.5			0.2		—		0.5		6.1			8.3
Purchases	37.6			—		—		0.1		6.5			44.2
Settlements	(10.8		)	—		—		—		(2.8		)	(13.6		)
Sales	—			—		—		—		—			—
Transfers into Level 3	5.1			—		—		—		—			5.1
Balance at End of Period	$	311.1		$	4.8	$	0.2	$	14.0	$	119.7		$	449.8