Investment Income and Gains and Losses (Tables)

12 Months Ended

Dec. 31, 2020

Investments Debt And Equity Securities [Abstract]

Components of Net Investment Income

The components of net investment income were as follows:

YEARS ENDED DECEMBER 31	2020			2019			2018
(in millions)
Fixed maturities	$	222.5		$	232.4		$	217.7
Mortgage loans		17.5			16.3			14.0
Limited partnerships		16.7			19.7			24.1
Equity securities		14.8			16.3			17.0
Other investments		3.2			5.3			4.8
Gross investment income		274.7			290.0			277.6
Less: investment expenses		(9.6	)		(8.7	)		(10.2	)
Net investment income	$	265.1		$	281.3		$	267.4

Schedule of Net Realized and Unrealized Gains (Losses) on Investments Including Impairments

Net realized and unrealized gains (losses) on investments, including impairments, were as follows:

YEARS ENDED DECEMBER 31	2020			2019			2018
(in millions)
Equity securities	$	13.4		$	106.5		$	(43.4	)
Other investments		2.5			—			(1.3	)
Mortgage loans		(6.7	)		(0.2	)		(0.2	)
Fixed maturities		(4.2	)		3.1			(5.8	)
Net realized and unrealized investment gains (losses)	$	5.0		$	109.4		$	(50.7	)

Schedule of Pre-tax Net Realized and Unrealized Gains (Losses) on Equity Securities

The following table provides pre-tax net realized and unrealized gains (losses) on equity securities:

YEARS ENDED DECEMBER 31		2020			2019		2018
(in millions)
Net gains (losses) recognized during the period	$	13.4		$	106.5	$	(43.4	)
Less: net (losses) gains recognized on equity securities sold during the period		(19.8	)		2.8		(3.9	)
Net unrealized gains (losses) recognized during the period    on equity securities still held	$	33.2		$	103.7	$	(39.5	)

Schedule of Realized Gain (Loss)

The proceeds from sales of available-for-sale fixed maturities and the gross realized gains and gross realized losses on those sales, were as follows:

YEARS ENDED DECEMBER 31
(in millions)
	Proceeds		Gross		Gross
2020	from Sales		Gains		Losses
Fixed maturities	$	264.1	$	9.9	$	2.9
2019
Fixed maturities, excluding held-for-sale (Chaucer)	$	541.2	$	6.9	$	5.7
Fixed maturities, held-for-sale		0.3		—		—
Total fixed maturities	$	541.5	$	6.9	$	5.7
2018
Fixed maturities, excluding held-for-sale (Chaucer)	$	296.5	$	2.1	$	8.4
Fixed maturities, held-for-sale		276.8		1.7		1.7
Total fixed maturities	$	573.3	$	3.8	$	10.1