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Other Comprehensive Income (Loss) (Tables)
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Changes in Other Comprehensive Income (Loss)

The following tables provide changes in other comprehensive income (loss).

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

 

 

 

 

 

Tax

 

 

 

 

 

 

 

 

Tax

 

 

 

 

 

 

 

 

 

Benefit

 

 

Net of

 

 

 

 

 

Benefit

 

 

Net of

 

(in millions)

 

Pre-Tax

 

 

(Expense)

 

 

Tax

 

 

Pre-Tax

 

 

(Expense)

 

 

Tax

 

Changes in net unrealized gains (losses) on
   investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized gains (losses) arising during period
   for those having no credit losses in Consolidated
   Statement of Income (Loss)

 

$

(43.9

)

 

$

9.2

 

 

$

(34.7

)

 

$

107.7

 

 

$

(22.6

)

 

$

85.1

 

Net unrealized gains arising during period
   for those having credit losses in Consolidated
   Statement of Income (Loss)

 

 

0.1

 

 

 

(0.1

)

 

 

—

 

 

 

0.8

 

 

 

(0.1

)

 

 

0.7

 

Amount of losses realized from sales and
   other recognized in Consolidated Statement
   of Income (Loss)

 

 

1.5

 

 

 

(0.7

)

 

 

0.8

 

 

 

1.1

 

 

 

(1.0

)

 

 

0.1

 

Amount of credit-related impairments (recoveries)
   recognized in the Consolidated Statement of
   Income (Loss)

 

 

(0.3

)

 

 

0.1

 

 

 

(0.2

)

 

 

0.4

 

 

 

(0.1

)

 

 

0.3

 

Amount of additional impairment losses
  recognized in the Consolidated
  Statement of Income (Loss)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10.3

 

 

 

(2.2

)

 

 

8.1

 

Net unrealized gains (losses)

 

 

(42.6

)

 

 

8.5

 

 

 

(34.1

)

 

 

120.3

 

 

 

(26.0

)

 

 

94.3

 

Pension and postretirement benefits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of net actuarial losses
   recognized as net periodic benefit cost

 

 

1.7

 

 

 

(0.3

)

 

 

1.4

 

 

 

2.0

 

 

 

(0.4

)

 

 

1.6

 

Long-duration insurance contracts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in market risk

 

 

1.3

 

 

 

(0.3

)

 

 

1.0

 

 

 

(2.7

)

 

 

0.6

 

 

 

(2.1

)

Other comprehensive income (loss)

 

$

(39.6

)

 

$

7.9

 

 

$

(31.7

)

 

$

119.6

 

 

$

(25.8

)

 

$

93.8

 
Reclassifications Out of Accumulated Other Comprehensive Loss

Reclassifications out of accumulated other comprehensive loss were as follows:

 

 

Three Months Ended

 

 

 

 

 

March 31,

 

 

 

(in millions)

 

2024

 

 

2023

 

 

 

 

 

Amount Reclassified from

 

 

 

Details about Accumulated Other

 

Accumulated Other

 

 

Affected Line Item in the Statement

Comprehensive Loss Components

 

Comprehensive Loss

 

 

Where Net Income (Loss) is Presented

Net unrealized losses on investment securities

 

$

(1.5

)

 

$

(1.1

)

 

Net realized losses from sales and other

 

 

 

0.3

 

 

 

(10.7

)

 

Recoveries (impairments) on investments

 

 

 

(1.2

)

 

 

(11.8

)

 

Total before tax

 

 

 

0.6

 

 

 

3.3

 

 

Income tax benefit (expense)

 

 

 

(0.6

)

 

 

(8.5

)

 

Continuing operations, net of tax

Amortization of defined benefit pension
   and postretirement actuarial losses

 

 

(1.7

)

 

 

(2.0

)

 

Loss adjustment expenses and other
   operating expenses (1)

 

 

 

0.3

 

 

 

0.4

 

 

Income tax benefit (expense)

 

 

 

(1.4

)

 

 

(1.6

)

 

Continuing operations, net of tax

Net change in market risk

 

 

0.3

 

 

 

—

 

 

Discontinued life businesses

 

 

 

(0.1

)

 

 

—

 

 

Income tax benefit (expense)

 

 

 

0.2

 

 

 

—

 

 

Discontinued life businesses, net of tax

Total reclassifications for the period

 

$

(1.8

)

 

$

(10.1

)

 

Expense reflected in income (loss), net of tax

(1)
The amount reclassified from accumulated other comprehensive loss for the pension and postretirement benefits was allocated approximately 40% to loss adjustment expenses and 60% to other operating expenses for the three months ended March 31, 2024 and 2023.