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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows From Operating Activities    
Net income $ 255.2 $ 194.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized and unrealized investment (gains) losses (73.0) 59.7
Loss from repayment of debt   6.2
Net amortization and depreciation 12.5 13.9
Stock-based compensation expense 16.8 14.4
Amortization of defined benefit plan costs 2.5 4.5
Deferred income tax expense (benefit) 12.4 (27.9)
Change in deferred acquisition costs (67.1) (15.1)
Change in premiums receivable, net of reinsurance premiums payable (144.0) (78.7)
Change in loss, loss adjustment expense and unearned premium reserves 776.9 412.6
Change in reinsurance recoverable (128.4) (27.3)
Change in expenses and taxes payable (51.0) (9.0)
Other, net (17.4) (0.8)
Net cash provided by operating activities 595.4 546.6
Cash Flows From Investing Activities    
Proceeds from disposals and maturities of fixed maturities 1,155.6 961.0
Proceeds from disposals of equity securities and other investments 209.6 153.5
Purchase of fixed maturities (1,571.5) (1,423.1)
Purchase of equity securities and other investments (125.7) (159.6)
Capital expenditures (5.7) (12.1)
Net cash used in investing activities (337.7) (480.3)
Cash Flows From Financing Activities    
Proceeds from exercise of employee stock options 19.3 4.8
Proceeds from debt borrowings, net   296.4
Dividends paid to shareholders (75.6) (74.0)
Repurchases of common stock (142.6) (94.3)
Repayment of debt   (175.8)
Other financing activities (8.2) (7.6)
Net cash used in financing activities (207.1) (50.5)
Net change in cash and cash equivalents 50.6 15.8
Cash and cash equivalents, beginning of period 120.6 215.7
Cash and cash equivalents, end of period $ 171.2 $ 231.5