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Other Comprehensive Income (Loss) (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Changes in Other Comprehensive Income (Loss) | The following tables provide changes in other comprehensive income (loss).
|  | Three Months Ended September 30, |
|  | 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 Statements of Income (Loss) |  | $ | 282.3 |  |  | $ | (59.3 | ) |  | $ | 223.0 |  |  | $ | (144.3 | ) |  | $ | 30.3 |  |  | $ | (114.0 | )
Net unrealized gains (losses) arising during period for those having credit losses in Consolidated Statements of Income (Loss) |  |  | 1.0 |  |  |  | (0.1 | ) |  |  | 0.9 |  |  |  | (0.7 | ) |  |  | 0.2 |  |  |  | (0.5 | )
Amount of losses realized from sales and other recognized in Consolidated Statements of Income (Loss) |  |  | 24.8 |  |  |  | (5.8 | ) |  |  | 19.0 |  |  |  | 0.9 |  |  |  | (0.6 | ) |  |  | 0.3 |
Amount of credit-related recoveries on prior impairments recognized in the Consolidated Statements of Income (Loss) |  |  | (0.3 | ) |  |  | — |  |  |  | (0.3 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amount of additional impairment losses recognized in the Consolidated Statements of Income (Loss) |  |  | 0.5 |  |  |  | (0.1 | ) |  |  | 0.4 |  |  |  | — |  |  |  | — |  |  |  | — |
Net unrealized gains (losses) |  |  | 308.3 |  |  |  | (65.3 | ) |  |  | 243.0 |  |  |  | (144.1 | ) |  |  | 29.9 |  |  |  | (114.2 | )
Pension and postretirement benefits: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of net actuarial losses recognized as net periodic benefit cost |  |  | 1.7 |  |  |  | (0.3 | ) |  |  | 1.4 |  |  |  | 1.9 |  |  |  | (0.4 | ) |  |  | 1.5 |
Long-duration insurance contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net change in market risk |  |  | (4.0 | ) |  |  | 0.9 |  |  |  | (3.1 | ) |  |  | 4.2 |  |  |  | (0.9 | ) |  |  | 3.3 |
Other comprehensive income (loss) |  | $ | 306.0 |  |  | $ | (64.7 | ) |  | $ | 241.3 |  |  | $ | (138.0 | ) |  | $ | 28.6 |  |  | $ | (109.4 | )
|  | Nine Months Ended September 30, |
|  | 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 Statements of Income (Loss) |  | $ | 211.2 |  |  | $ | (44.4 | ) |  | $ | 166.8 |  |  | $ | (120.8 | ) |  | $ | 25.4 |  |  | $ | (95.4 | )
Net unrealized gains arising during period for those having credit losses in Consolidated Statements of Income (Loss) |  |  | 4.0 |  |  |  | (0.8 | ) |  |  | 3.2 |  |  |  | 0.3 |  |  |  | — |  |  |  | 0.3 |
Amount of losses realized from sales and other recognized in Consolidated Statements of Income (Loss) |  |  | 56.9 |  |  |  | (13.1 | ) |  |  | 43.8 |  |  |  | 1.9 |  |  |  | (1.6 | ) |  |  | 0.3 |
Amount of credit-related impairments (recoveries) recognized in the Consolidated Statements of Income (Loss) |  |  | (0.7 | ) |  |  | 0.1 |  |  |  | (0.6 | ) |  |  | 0.8 |  |  |  | (0.2 | ) |  |  | 0.6 |
Amount of additional impairment losses recognized in the Consolidated Statements of Income (Loss) |  |  | 2.2 |  |  |  | (0.5 | ) |  |  | 1.7 |  |  |  | 10.3 |  |  |  | (2.2 | ) |  |  | 8.1 |
Net unrealized gains (losses) |  |  | 273.6 |  |  |  | (58.7 | ) |  |  | 214.9 |  |  |  | (107.5 | ) |  |  | 21.4 |  |  |  | (86.1 | )
Pension and postretirement benefits: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of net actuarial losses recognized as net periodic benefit cost |  |  | 5.1 |  |  |  | (1.0 | ) |  |  | 4.1 |  |  |  | 5.9 |  |  |  | (1.2 | ) |  |  | 4.7 |
Long-duration insurance contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net change in market risk |  |  | (1.7 | ) |  |  | 0.4 |  |  |  | (1.3 | ) |  |  | 3.3 |  |  |  | (0.7 | ) |  |  | 2.6 |
Other comprehensive income (loss) |  | $ | 277.0 |  |  | $ | (59.3 | ) |  | $ | 217.7 |  |  | $ | (98.3 | ) |  | $ | 19.5 |  |  | $ | (78.8 | )
Reclassifications Out of Accumulated Other Comprehensive Loss | Reclassifications out of accumulated other comprehensive loss were as follows:
|  | Three Months Ended |  |  | Nine Months Ended |  |  |
|  | September 30, |  |  | September 30, |  |  |
(in millions) |  | 2024 |  |  | 2023 |  |  | 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 |  | $ | (24.7 | ) |  | $ | (0.9 | ) |  |  | $ | (56.6 | ) |  |  | $ | (1.9 | ) |  | Net realized losses from sales and other
|  |  | (0.2 | ) |  |  | — |  |  |  |  | (1.5 | ) |  |  |  | (11.1 | ) |  | Impairments on investments
|  |  | (24.9 | ) |  |  | (0.9 | ) |  |  |  | (58.1 | ) |  |  |  | (13.0 | ) |  | Total before tax
|  |  | 5.9 |  |  |  | 0.6 |  |  |  |  | 13.5 |  |  |  |  | 4.0 |  |  | Income tax (expense) benefit
|  |  | (19.0 | ) |  |  | (0.3 | ) |  |  |  | (44.6 | ) |  |  |  | (9.0 | ) |  | Continuing operations; net of tax
|  |  | (0.1 | ) |  |  | — |  |  |  |  | (0.3 | ) |  |  |  | — |  |  | Income from discontinued life businesses
|  |  | (19.1 | ) |  |  | (0.3 | ) |  |  |  | (44.9 | ) |  |  |  | (9.0 | ) |  | Net of tax
Amortization of defined benefit pension and postretirement actuarial losses |  |  | (1.7 | ) |  |  | (1.9 | ) |  |  |  | (5.1 | ) |  |  |  | (5.9 | ) |  | Loss adjustment expenses and other operating expenses (1)
|  |  | 0.3 |  |  |  | 0.4 |  |  |  |  | 1.0 |  |  |  |  | 1.2 |  |  | Income tax (expense) benefit
|  |  | (1.4 | ) |  |  | (1.5 | ) |  |  |  | (4.1 | ) |  |  |  | (4.7 | ) |  | Continuing operations; net of tax
Net change in market risk |  |  | 0.3 |  |  |  | — |  |  |  |  | 0.8 |  |  |  |  | — |  |  | Income from discontinued life businesses
|  |  | (0.1 | ) |  |  | — |  |  |  |  | (0.2 | ) |  |  |  | — |  |  | Income tax (expense) benefit
|  |  | 0.2 |  |  |  | — |  |  |  |  | 0.6 |  |  |  |  | — |  |  | Discontinued operations; net of tax
Total reclassifications for the period |  | $ | (20.3 | ) |  | $ | (1.8 | ) |  |  | $ | (48.4 | ) |  |  | $ | (13.7 | ) |  | Benefit (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 and nine months ended September 30, 2024 and 2023.

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