Fair Value (Tables)

3 Months Ended

Mar. 31, 2012


(in millions)	March 31, 2012				December 31, 2011

	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets
Cash and cash equivalents	$	628.3	$	628.3	$	820.4	$	820.4
Fixed maturities		6,470.6		6,470.6		6,284.7		6,284.7
Equity securities		334.1		334.1		246.4		246.4
Mortgage loans		4.5		4.8		4.7		5.0
Other investments		149.6		149.4		135.1		135.1

Total financial assets	$	7,587.1	$	7,587.2	$	7,491.3	$	7,491.6


Financial Liabilities
Debt	$	918.1	$	997.6	$	911.1	$	1,014.9

Fair Value Of Assets On A Recurring Basis

March 31, 2012

(in millions)

Total

Level 1

Level 2

Level 3

Fixed maturities:

U.S. Treasury and government agencies

231.0

89.2

141.8

Foreign governments

273.8

55.0

218.8

Municipal

1,005.0

988.0

17.0

Corporate

3,545.6

3,516.9

28.7

Residential mortgage-backed, U.S. agency backed

653.0

Residential mortgage-backed, non-agency

158.4

157.7

0.7

Commercial mortgage-backed

387.4

382.9

4.5

Asset-backed

216.4

192.1

24.3

Total fixed maturities

6,470.6

144.2

6,251.2

75.2

Cash and cash equivalents

628.3

Equity securities

334.1

255.3

57.4

21.4

Mortgage loans

4.8

Other investments

149.4

Total investment assets at fair value

7,587.2

1,027.8

6,462.8

96.6

Debt

997.6

Total liabilities at fair value

997.6


	December 31, 2011
	Total		Level 1		Level 2		Level 3

Fixed maturities:
U.S. Treasury and government agencies	$	269.3	$	147.3	$	122.0	$	-
Foreign governments		239.0		-		239.0		-
Municipal		1,028.0		-		1,014.4		13.6
Corporate		3,375.6		-		3,351.8		23.8
Residential mortgage-backed, U.S. agency backed		663.3		-		663.3		-
Residential mortgage-backed, non-agency		185.3		-		180.1		5.2
Commercial mortgage-backed		379.1		-		374.4		4.7
Asset-backed		145.1		-		116.9		28.2

Total fixed maturities		6,284.7		147.3		6,061.9		75.5
Equity securities		237.0		177.4		36.2		23.4
Other investments		135.1		-		135.1		-

Total investment assets at fair value	$	6,656.8	$	324.7	$	6,233.2	$	98.9

Fair Value On Recurring Basis Using Significant Unobservable Inputs (Level 3)


	Fixed Maturities

(in millions)	Municipal			Corporate			Residential mortgage- backed, non- agency			Commercial mortgage- backed			Asset- backed			Total			Equity Securities			Total Assets

Three Months Ended March 31, 2012
Balance January 1, 2012	$	13.6		$	23.8		$	5.2		$	4.7		$	28.2		$	75.5		$	23.4		$	98.9
Transfers into Level 3		-			4.3			-			-			-			4.3			0.1			4.4
Transfers out of Level 3		-			-			-			-			(7.7	)		(7.7	)		-			(7.7	)
Total gains (losses):
Included in earnings		-			0.1			-			-			(0.1	)		-			(0.2	)		(0.2	)
Included in other comprehensive income - net appreciation on available for sale securities		0.6			0.8			0.1			-			(1.0	)		0.5			(1.2	)		(0.7	)
Purchases and sales:
Purchases		3.0			-			-			-			5.2			8.2			-			8.2
Sales		(0.2	)		(0.3	)		(4.6	)		(0.2	)		(0.3	)		(5.6	)		(0.7	)		(6.3	)

Balance March 31, 2012	$	17.0		$	28.7		$	0.7		$	4.5		$	24.3		$	75.2		$	21.4		$	96.6


Three Months Ended March 31, 2011
Balance January 1, 2011	$	16.6		$	28.2		$	0.8		$	5.5		$	13.5		$	64.6		$	2.9		$	67.5
Transfers into Level 3		-			3.7			-			-			-			3.7			-			3.7
Total (losses) gains:
Included in earnings		-			-			-			-			-			-			(0.5	)		(0.5	)
Included in other comprehensive income		(0.4	)		0.1			-			-			-			(0.3	)		0.5			0.2
Purchases and sales:
Purchases		-			2.9			-			-			-			2.9			-			2.9
Sales		(0.3	)		(0.6	)		(0.2	)		(0.2	)		(0.1	)		(1.4	)		-			(1.4	)

Balance March 31, 2011	$	15.9		$	34.3		$	0.6		$	5.3		$	13.4		$	69.5		$	2.9		$	72.4

Schedule Of Gain And Losses Due To Change In Fair Value Level 3 Assets


	Three Months Ended March 31,


				2012						2011

(in millions)	Other-than- temporary impairments			Net realized investment gains (losses)			Total			Other-than- temporary impairments			Net realized investment gains		Total

Level 3 Assets:
Fixed maturities:
Corporate	$	-		$	0.1		$	0.1		$	-		$	-	$	-
Asset-backed		(0.1	)		-			(0.1	)		-			-		-

Total fixed maturities		(0.1	)		0.1			-			-			-		-
Equities		-			(0.2	)		(0.2	)		(0.5	)		-		(0.5	)

Total assets	$	(0.1	)	$	(0.1	)	$	(0.2	)	$	(0.5	)	$	-	$	(0.5	)

Schedule Of Additional Information About Significant Unobservable Inputs Used In Fair Valuations Of Level 3


	Fair Value (in millions)		Valuation Technique	Significant Unobservable Inputs	Range (Wtd Average)

Fixed maturities:
Municipal	$	17.0	Discounted cash flow	Discount for: Small issue size Long maturity Above-market coupon	1.0-4.0% (3.1%) 0.5% (0.5%) 0.3-1.0% (0.5%)

Corporate		28.7	Discounted cash flow	Discount for: Credit stress Above-market coupon Small issue size Long maturity	2.0-3.0% (2.0%) 0.3-2.0% (0.8%) 0.3-3.0% (0.5%) 0.5% (0.5%)

Commercial mortgage-backed		4.5	Discounted cash flow	Discount for: Credit stress Small issue size Above-market coupon	1.0% (1.0%) 0.5% (0.5%) 0.5% (0.5%)

Asset-backed		24.3	Discounted cash flow	Discount for: Long maturity Small issue size Above-market coupon Lease structure	0.5-0.8% (0.7%) 0.3-0.5% (0.5%) 0.3-1.0% (0.4%) 0.3% (0.3%)

Equities		21.4	Market comparables	Net tangible asset market multiples	0.87% (0.87%)

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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