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Investments (Tables)
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2020
Schedule of Investments [Line Items]    
Schedule of Available-for-sale Securities  
June 30, 2020
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Allowance for Credit Losses
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
AFS fixed income securities:
 
 
 
 
 
 
 
 
 
 
U.S. government and government agencies
 
$
112,341

 
—

 
7,382

 
—

 
119,723

Foreign government
 
16,936

 
(28
)
 
1,118

 
(104
)
 
17,922

Obligations of states and political subdivisions
 
1,131,597

 
(17
)
 
72,034

 
(200
)
 
1,203,414

Corporate securities
 
2,131,707

 
(8,077
)
 
142,677

 
(10,302
)
 
2,256,005

Collateralized loan obligations ("CLO") and other asset-backed securities ("ABS")
 
853,470

 
(1,389
)
 
11,946

 
(24,506
)
 
839,521

Residential mortgage-backed securities ("RMBS")
 
1,254,472

 
(831
)
 
65,745

 
(1,008
)
 
1,318,378

Commercial mortgage-backed securities ("CMBS")
 
565,031

 
(53
)
 
41,999

 
(3,784
)
 
603,193

Total AFS fixed income securities
 
$
6,065,554

 
(10,395
)
 
342,901

 
(39,904
)
 
6,358,156

 
December 31, 2019
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
AFS fixed income securities:
 
 
 
 
 
 
 
 
U.S. government and government agencies
 
$
112,680

 
3,506

 
—

 
116,186

Foreign government
 
18,011

 
533

 
(2
)
 
18,542

Obligations of states and political subdivisions
 
1,168,185

 
62,175

 
(270
)
 
1,230,090

Corporate securities
 
1,866,881

 
81,906

 
(1,310
)
 
1,947,477

CLO and other ABS
 
790,517

 
7,929

 
(5,434
)
 
793,012

RMBS
 
1,409,003

 
43,421

 
(455
)
 
1,451,969

CMBS
 
514,709

 
23,902

 
(267
)
 
538,344

Total AFS fixed income securities
 
$
5,879,986

 
223,372

 
(7,738
)
 
6,095,620
Debt Securities, Available-for-sale, Allowance for Credit Loss [Table Text Block]  
Quarter ended June 30, 2020
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Beginning Balance
 
Current Provision for Securities without Prior Allowance
 
Increase (Decrease) on Securities with Prior Allowance, excluding intent (or Requirement) to Sell Securities
 
Reductions for Securities Sold
 
Reductions for Securities Identified as Intent (or Requirement) to Sell during the Period
 
Ending Balance
Foreign government
 
$
21

 
—

 
7

 
—

 
—

 
28

Obligations of states and political subdivisions
 
29

 
15

 
(27
)
 
—

 
—

 
17

Corporate securities
 
13,412

 
813

 
(5,686
)
 
(395
)
 
(67
)
 
8,077

CLO and other ABS
 
1,565

 
27

 
(145
)
 
(58
)
 
—

 
1,389

RMBS
 
722

 
—

 
124

 
(15
)
 
—

 
831

CMBS
 
38

 
8

 
7

 
—

 
—

 
53

Total AFS fixed income securities
 
$
15,787

 
863

 
(5,720
)
 
(468
)
 
(67
)
 
10,395


Six Months ended June 30, 2020
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Beginning Balance
 
Current Provision for Securities without Prior Allowance
 
Increase (Decrease) on Securities with Prior Allowance, excluding intent (or Requirement) to Sell Securities
 
Reductions for Securities Sold
 
Reductions for Securities Identified as Intent (or Requirement) to Sell during the Period
 
Ending Balance
Foreign government
 
$
—

 
28

 
—

 
—

 
—

 
28

Obligations of states and political subdivisions
 
—

 
17

 
—

 
—

 
—

 
17

Corporate securities
 
—

 
8,539

 
—

 
(395
)
 
(67
)
 
8,077

CLO and other ABS
 
—

 
1,447

 
—

 
(58
)
 
—

 
1,389

RMBS
 
—

 
846

 
—

 
(15
)
 
—

 
831

CMBS
 
—

 
53

 
—

 
—

 
—

 
53

Total AFS fixed income securities
 
$
—

 
10,930

 
—

 
(468
)
 
(67
)
 
10,395
Schedule of Fair Value and Gross Pre-Tax Net Unrealized Loss of Securities by Length of Time, AFS  
June 30, 2020
 
Less than 12 months
 
12 months or longer
 
Total
($ in thousands)
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
AFS fixed income securities:
 
 

 
 

 
 

 
 

 
 
 
 
Foreign government
 
$
1,673

 
(104
)
 
—

 
—

 
1,673

 
(104
)
Obligations of states and political subdivisions
 
9,141

 
(200
)
 
—

 
—

 
9,141

 
(200
)
Corporate securities
 
175,595

 
(9,852
)
 
3,216

 
(450
)
 
178,811

 
(10,302
)
CLO and other ABS
 
373,896

 
(16,109
)
 
142,759

 
(8,397
)
 
516,655

 
(24,506
)
RMBS
 
39,176

 
(975
)
 
1,352

 
(33
)
 
40,528

 
(1,008
)
CMBS
 
86,573

 
(3,128
)
 
11,739

 
(656
)
 
98,312

 
(3,784
)
Total AFS fixed income securities
 
$
686,054

 
(30,368
)
 
159,066

 
(9,536
)
 
845,120

 
(39,904
)

December 31, 2019
 
Less than 12 months
 
12 months or longer
 
Total
($ in thousands)
 
Fair
Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
AFS fixed income securities:
 
 

 
 

 
 

 
 

 
 
 
 
Foreign government
 
$
1,416

 
(2
)
 
—

 
—

 
1,416

 
(2
)
Obligations of states and political subdivisions
 
35,838

 
(270
)
 
—

 
—

 
35,838

 
(270
)
Corporate securities
 
84,832

 
(480
)
 
20,182

 
(830
)
 
105,014

 
(1,310
)
CLO and other ABS
 
205,191

 
(1,938
)
 
204,385

 
(3,496
)
 
409,576

 
(5,434
)
RMBS
 
126,089

 
(425
)
 
5,375

 
(30
)
 
131,464

 
(455
)
CMBS
 
62,893

 
(264
)
 
828

 
(3
)
 
63,721

 
(267
)
Total AFS fixed income securities
 
$
516,259

 
(3,379
)
 
230,770

 
(4,359
)
 
747,029

 
(7,738
)
Schedule of Fixed Maturity Securities By Contractual Maturities  
 
 
AFS
 
HTM
($ in thousands)
 
Fair Value
 
Carrying Value
 
Fair Value
Due in one year or less
 
$
315,316

 
440

 
448

Due after one year through five years
 
3,639,491

 
16,591

 
17,843

Due after five years through 10 years
 
2,053,058

 
2,511

 
2,436

Due after 10 years
 
350,291

 
—

 
—

Total fixed income securities
 
$
6,358,156

 
19,542

 
20,727
Schedule of Other Investment Portfolio By Strategy And Remaining Commitment Amount and Maximum Exposure to Loss Associated With Each Strategy  
Other Investments
 
June 30, 2020
 
December 31, 2019
($ in thousands)
 
Carrying Value
 
Remaining Commitment
 
Maximum Exposure to Loss1
 
Carrying Value
 
Remaining Commitment
 
Maximum Exposure to Loss1
Alternative Investments
 
 

 
 

 
 
 
 
 
 
 
 
   Private equity
 
$
126,780

 
111,284

 
238,064

 
118,352

 
93,138

 
211,490

   Private credit
 
40,239

 
99,039

 
139,278

 
42,532

 
105,340

 
147,872

   Real assets
 
21,178

 
19,384

 
40,562

 
23,256

 
20,741

 
43,997

Total alternative investments
 
188,197

 
229,707

 
417,904

 
184,140

 
219,219

 
403,359

Other securities
 
42,323

 
—

 
42,323

 
32,667

 
—

 
32,667

Total other investments
 
$
230,520

 
229,707

 
460,227

 
216,807

 
219,219

 
436,026


1The maximum exposure to loss includes both the carry value of these investments and the related remaining commitments. In addition, tax credits that have been previously recognized in Other securities are subject to the risk of recapture, which we do not consider significant.
Schedule of Aggregated Summarized Income Statement Financial Information For Partnerships In Our Alternative Investment Portfolio  
Income Statement Information
 
Quarter ended June 30,
 
Six Months ended June 30,
($ in millions)
 
2020
 
2019
 
2020
 
2019
Net investment (loss) income
 
$
(3.1
)

174.1

 
9.6

 
24.1

Realized (losses) gains
 
179.0


106.0

 
343.8

 
249.3

Net change in unrealized appreciation (depreciation)
 
(2,862.9
)

2,223.7

 
(1,658.9
)
 
2,778.0

Net income
 
$
(2,687.0
)

2,503.8

 
(1,305.5
)
 
3,051.4

Insurance Subsidiaries’ alternative investments income
 
$
(16.0
)
 
7.3

 
(9.7
)
 
7.9
Schedule of Securities Pledged As Collateral  
($ in millions)
 
FHLBI Collateral
 
FHLBNY Collateral
 
State and Regulatory Deposits
 
Total
U.S. government and government agencies
 
$
—

 
—

 
23.3

 
23.3

Obligations of states and political subdivisions
 
—

 
—

 
4.1

 
4.1

Corporate securities
 
—

 
—

 
0.3

 
0.3

RMBS
 
130.0

 
224.0

 
—

 
354.0

CMBS
 
7.2

 
28.2

 
—

 
35.4

Total pledged as collateral
 
$
137.2

 
252.2

 
27.7


417.1
Schedule of Pre-Tax Net Investment Income Earned  
 
 
Quarter ended June 30,
 
Six Months ended June 30,
($ in thousands)
 
2020
 
2019
 
2020
 
2019
Fixed income securities
 
$
51,079


50,907

 
101,332

 
99,940

CMLs
 
156

 
—

 
218

 
—

Equity securities
 
2,023


1,740

 
3,575

 
3,380

Short-term investments
 
420


1,759

 
1,586

 
3,803

Other investments
 
(15,846
)

7,494

 
(9,504
)
 
8,154

Investment expenses
 
(3,388
)

(3,395
)
 
(6,796
)
 
(6,154
)
Net investment income earned
 
$
34,444

 
58,505

 
90,411

 
109,123
Schedule Of O T T I By Asset Type [Table Text Block]
 
 
Quarter ended June 30,
 
 
2020
 
2019
($ in thousands)
 
Credit Loss Expense (Benefit)
 
Other Impairment Expense
 
Recognized in Earnings
 
Recognized in Earnings
HTM fixed income securities:
 
 
 
 
 
 
 
 
Corporate securities
 
$
(1
)
 
—

 
(1
)
 
—

Total HTM fixed income securities
 
(1
)
 
—

 
(1
)
 
—

AFS fixed income securities:
 
 
 
 
 
 
 
 
Foreign government
 
7

 
—

 
7

 
—

Obligations of states and political subdivisions
 
(12
)
 
—

 
(12
)
 
—

Corporate securities
 
(4,940
)
 
500

 
(4,440
)
 
774

CLO and other ABS
 
(118
)
 
93

 
(25
)
 
—

RMBS
 
125

 
20

 
145

 
—

CMBS
 
15

 
—

 
15

 
—

Total AFS fixed income securities
 
(4,923
)
 
613

 
(4,310
)
 
774

CMLs
 
(22
)
 
—

 
(22
)
 
—

Other Investments
 
—

 
—

 
—

 
197

Total OTTI (benefit) expense
 
$
(4,946
)
 
613

 
(4,333
)
 
971

 
 
Six Months ended June 30,
 
 
2020
 
2019
($ in thousands)
 
Credit Loss Expense (Benefit)
 
Other Impairment Expense
 
Recognized in Earnings
 
Recognized in Earnings
HTM fixed income securities:
 
 
 
 
 
 
 
 
Corporate securities
 
$
(1
)
 
—

 
(1
)
 
—

Total HTM fixed income securities
 
(1
)
 
—

 
(1
)
 
—

AFS fixed income securities:
 
 
 
 
 
 
 
 
U.S. government and government agencies
 
—

 
14

 
14

 
—

Foreign government
 
28

 
—

 
28

 
—

Obligations of states and political subdivisions
 
17

 
62

 
79

 
65

Corporate securities
 
8,472

 
12,103

 
20,575

 
774

CLO and other ABS
 
1,447

 
2,093

 
3,540

 
—

RMBS
 
847

 
91

 
938

 
—

CMBS
 
53

 
1,852

 
1,905

 
—

Total AFS fixed income securities
 
10,864

 
16,215

 
27,079

 
839

CMLs
 
218

 
—

 
218

 
—

Other Investments
 
—

 
—

 
—

 
236

Total OTTI expense
 
$
11,081

 
16,215

 
27,296

 
1,075


  
Schedule of Components of Net Realized and Unrealized Gains and Losses Excluding OTTI Charges  
 
 
Quarter ended June 30,
 
Six Months ended June 30,
($ in thousands)
 
2020
 
2019
 
2020
 
2019
Net realized gains (losses) on the disposals of securities:
 
 
 
 
 
 
 
 
Fixed income securities
 
$
2,300

 
2,061

 
6,576

 
3,204

CMLs
 
1

 
—

 
1

 
—

Equity securities
 
—

 
851

 
(3
)
 
3,131

Short-term investments
 
314

 
1

 
146

 
15

Other investments
 
—

 
(30
)
 
(5
)
 
(23
)
Net realized gains (losses) on the disposal of securities
 
2,615

 
2,883

 
6,715

 
6,327

OTTI benefit (expense)
 
4,333

 
(971
)
 
(27,296
)
 
(1,075
)
Net realized gains (losses)
 
6,948

 
1,912

 
(20,581
)
 
5,252

Unrealized gains (losses) recognized in income on equity securities
 
5,701

 
2,115

 
(11,436
)
 
12,226

Total net realized and unrealized investment gains (losses)
 
$
12,649

 
4,027

 
$
(32,017
)
 
17,478
Schedule of Realized Gains and Losses on Disposals of Securities  
 
 
Quarter ended June 30,
 
Six Months ended June 30,
($ in thousands)
 
2020
 
2019
 
2020
 
2019
HTM fixed income securities
 
 
 
 
 
 
 
 
Gains
 
$
—

 
1

 
1

 
1

Losses
 
—

 
(15
)
 
—

 
(15
)
AFS fixed income securities
 
 

 
 

 
 
 
 
Gains
 
6,162

 
2,643

 
11,815

 
4,487

Losses
 
(3,862
)
 
(568
)
 
(5,240
)
 
(1,269
)
CMLs
 
 
 
 
 
 
 
 
Gains
 
1

 
—

 
1

 
—

Losses
 
—

 
—

 
—

 
—

Equity securities
 
 

 
 

 
 
 
 
Gains
 
—

 
958

 
—

 
3,238

Losses
 
—

 
(107
)
 
(3
)
 
(107
)
Short-term investments
 
 
 
 
 
 
 
 
Gains
 
315

 
2

 
337

 
16

Losses
 
(1
)
 
(1
)
 
(191
)
 
(1
)
Other investments
 
 
 
 
 
 
 
 
Gains
 
—

 
—

 
—

 
7

Losses
 
—

 
(30
)
 
(5
)
 
(30
)
Total net realized gains on disposals of securities
 
$
2,615

 
2,883

 
6,715

 
6,327
Equity Securities [Member]    
Schedule of Investments [Line Items]    
Schedule of Components of Net Realized and Unrealized Gains and Losses Excluding OTTI Charges  
 
 
Quarter ended June 30,
 
Six Months ended June 30,
($ in thousands)
 
2020
 
2019
 
2020
 
2019
Unrealized (losses) gains recognized in income on equity securities:
 
 
 
 
 
 
 
 
On securities remaining in our portfolio at June 30, 2020
 
$
5,701

 
2,394

 
(11,439
)
 
11,817

On securities sold in each respective period
 
—

 
(279
)
 
3

 
409

Total unrealized (losses) gains recognized in income on equity securities
 
$
5,701

 
2,115

 
(11,436
)

12,226