Investments (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Available-for-sale Securities Reconciliation



	June 30, 2014
	Amortized		Gross		Gross				OTTI
	Cost or		Unrealized		Unrealized				Unrealized
(in millions)	Cost		Gains		Losses		Fair Value		Losses
Fixed maturities:
U.S. Treasury and government agencies	$	403.5	$	6.0	$	6.3	$	403.2	$	-
Foreign government		319.7		2.6		1.3		321.0		-
Municipal		1,080.4		59.5		6.4		1,133.5		-
Corporate		3,718.3		205.4		15.0		3,908.7		7.4
Residential mortgage-backed		697.3		22.1		5.8		713.6		0.4
Commercial mortgage-backed		395.1		12.5		1.5		406.1		-
Asset-backed		170.8		1.7		0.1		172.4		-
Total fixed maturities	$	6,785.1	$	309.8	$	36.4	$	7,058.5	$	7.8
Equity securities	$	446.4	$	84.9	$	0.8	$	530.5	$	-



	December 31, 2013
	Amortized		Gross		Gross				OTTI
	Cost or		Unrealized		Unrealized				Unrealized
(in millions)	Cost		Gains		Losses		Fair Value		Losses
Fixed maturities:
U.S. Treasury and government agencies	$	417.5	$	3.3	$	14.2	$	406.6	$	-
Foreign government		304.5		2.1		1.6		305.0		-
Municipal		1,108.0		37.4		19.1		1,126.3		-
Corporate		3,690.2		171.5		37.5		3,824.2		8.6
Residential mortgage-backed		722.8		20.1		14.1		728.8		1.6
Commercial mortgage-backed		405.9		10.5		4.8		411.6		-
Asset-backed		166.3		2.0		0.2		168.1		-
Total fixed maturities	$	6,815.2	$	246.9	$	91.5	$	6,970.6	$	10.2
Equity securities	$	366.5	$	66.9	$	3.2	$	430.2	$	-

Investments Classified by Contractual Maturity Date



	June 30, 2014
	Amortized		Fair
(in millions)	Cost		Value
Due in one year or less	$	400.6	$	404.8
Due after one year through five years		2,329.2		2,437.4
Due after five years through ten years		2,116.5		2,215.1
Due after ten years		675.6		709.1
		5,521.9		5,766.4
Mortgage-backed and asset-backed securities		1,263.2		1,292.1
Total fixed maturities	$	6,785.1	$	7,058.5

Schedule of Unrealized Loss on Investments



	June 30, 2014
	12 months or less				Greater than 12 months				Total
	Gross				Gross				Gross
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(in millions)	Losses		Value		Losses		Value		Losses		Value
Fixed maturities:
Investment grade:
U.S. Treasury and government agencies	$	-	$	6.4	$	6.3	$	152.0	$	6.3	$	158.4
Foreign governments		0.8		100.7		0.5		56.1		1.3		156.8
Municipal		0.4		53.3		5.7		158.9		6.1		212.2
Corporate		2.6		198.4		10.1		259.7		12.7		458.1
Residential mortgage-backed		0.5		39.7		5.3		135.5		5.8		175.2
Commercial mortgage-backed		0.1		31.3		1.4		65.4		1.5		96.7
Asset-backed		-		10.7		0.1		14.2		0.1		24.9
Total investment grade		4.4		440.5		29.4		841.8		33.8		1,282.3
Below investment grade:
Municipal		0.3		4.4		-		-		0.3		4.4
Corporate		0.5		16.2		1.8		25.0		2.3		41.2
Total below investment grade		0.8		20.6		1.8		25.0		2.6		45.6
Total fixed maturities		5.2		461.1		31.2		866.8		36.4		1,327.9
Equity securities		-		10.0		0.8		3.4		0.8		13.4
Total	$	5.2	$	471.1	$	32.0	$	870.2	$	37.2	$	1,341.3



	December 31, 2013
	12 months or less				Greater than 12 months				Total
	Gross				Gross				Gross
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(in millions)	Losses		Value		Losses		Value		Losses		Value
Fixed maturities:
Investment grade:
U.S. Treasury and government agencies	$	12.3	$	247.9	$	1.9	$	18.8	$	14.2	$	266.7
Foreign governments		1.5		129.0		0.1		17.3		1.6		146.3
Municipal		14.8		345.3		4.3		39.9		19.1		385.2
Corporate		21.4		872.7		11.6		87.7		33.0		960.4
Residential mortgage-backed		10.3		321.1		3.4		29.5		13.7		350.6
Commercial mortgage-backed		4.2		155.4		0.6		10.2		4.8		165.6
Asset-backed		0.2		31.0		-		0.3		0.2		31.3
Total investment grade		64.7		2,102.4		21.9		203.7		86.6		2,306.1
Below investment grade:
Corporate		2.9		71.9		1.6		21.4		4.5		93.3
Residential mortgage-backed		0.1		2.0		0.3		1.5		0.4		3.5
Total below investment grade		3.0		73.9		1.9		22.9		4.9		96.8
Total fixed maturities		67.7		2,176.3		23.8		226.6		91.5		2,402.9
Equity securities		2.8		45.2		0.4		0.7		3.2		45.9
Total	$	70.5	$	2,221.5	$	24.2	$	227.3	$	94.7	$	2,448.8

Schedule of Realized Gain (Loss)



	Three Months Ended June 30,
	2014						2013
	Proceeds from		Gross		Gross		Proceeds from		Gross		Gross
(in millions)	Sales		Gains		Losses		Sales		Gains		Losses
Fixed maturities	$	70.5	$	1.1	$	1.1	$	148.5	$	3.0	$	0.4
Equity securities	$	60.0	$	22.2	$	0.7	$	44.4	$	10.4	$	0.3



	Six Months Ended June 30,
	2014						2013
	Proceeds from		Gross		Gross		Proceeds from		Gross		Gross
(in millions)	Sales		Gains		Losses		Sales		Gains		Losses
Fixed maturities	$	208.1	$	3.3	$	2.3	$	285.7	$	4.6	$	1.0
Equity securities	$	72.4	$	24.1	$	0.8	$	78.9	$	17.0	$	0.3

Rollforward of Cumulative Amounts Related to Credit Loss Portion of OTTI Losses



	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2014		2013		2014		2013
Credit losses at beginning of period	$	5.3	$	8.6	$	7.8	$	8.6
Credit losses for which an OTTI was not previously recognized		-		0.1		-		0.3
Additional credit losses on securities for which an
OTTI was previously recognized		-		-		-		0.2
Reductions for securities sold, matured or called		(0.6)		(1.4)		(3.1)		(1.8)
Reductions for securities reclassified as intended to sell		(0.4)		-		(0.4)		-
Credit losses at the end of period	$	4.3	$	7.3	$	4.3	$	7.3

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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