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Investments (Tables)

12 Months Ended

Dec. 31, 2022

Investment [Line Items]

Schedule of Unrealized Gains (Losses) On Investments

($ in thousands)						2022						2021						2020
AFS securities:
Fixed income securities						$	(527,926)					228,947						386,380
Total AFS securities						(527,926)						228,947						386,380
HTM securities:
Fixed income securities						—						(4)						7
Total HTM securities						—						(4)						7
Short-term securities						35						20						6
Total net unrealized (losses) gains						(527,891)						228,963						386,393
Deferred income tax						110,857						(48,082)						(81,142)
Net unrealized (losses) gains, net of deferred income tax						(417,034)						180,881						305,251
(Decrease) increase in net unrealized (losses) gains in OCI, net of deferred income tax						$	(597,915)					(124,370)						134,857

Schedule of Available For Sale Securities

December 31, 2022
						Cost/
						Amortized						Allowance for						Unrealized						Unrealized						Fair
($ in thousands)						Cost						Credit Losses						Gains						Losses						Value
AFS fixed income securities:
U.S. government and government agencies						$	209,528					—						37						(20,326)						189,239
Foreign government						11,199						(284)						—						(1,307)						9,608
Obligations of states and political subdivisions						965,231						(1,024)						1,812						(48,001)						918,018
Corporate securities						2,558,655						(30,330)						3,509						(196,809)						2,335,025
CLO and other ABS						1,607,660						(2,375)						2,408						(121,720)						1,485,973
RMBS						1,169,546						(11,597)						1,148						(99,265)						1,059,832
CMBS						663,935						(111)						348						(49,760)						614,412
Total AFS fixed income securities						$	7,185,754					(45,721)						9,262						(537,188)						6,612,107

December 31, 2021
						Cost/
						Amortized						Allowance for						Unrealized						Unrealized						Fair
($ in thousands)						Cost						Credit Losses						Gains						Losses						Value
AFS fixed income securities:
U.S. government and government agencies						$	127,974					—						3,629						(1,145)						130,458
Foreign government						15,420						(46)						609						(123)						15,860
Obligations of states and political subdivisions						1,121,422						(137)						68,258						(235)						1,189,308
Corporate securities						2,478,348						(6,682)						106,890						(4,953)						2,573,603
CLO and other ABS						1,343,687						(939)						14,350						(6,284)						1,350,814
RMBS						756,280						(1,909)						24,813						(2,932)						776,252
CMBS						647,622						(11)						27,752						(1,682)						673,681
Total AFS fixed income securities						$	6,490,753					$	(9,724)					246,301						(17,354)						6,709,976

Schedule of debt securities, available-for-sale, allowance for credit losses

2022			Beginning Balance						Current Provision for Securities without Prior Allowance						Initial Allowance for Purchased Credit Deteriorated Assets with Credit Deterioration						Increase (Decrease) on Securities with Prior Allowance, excluding intent (or Requirements) to Sell Securities						Reductions for Securities Sold						Reductions for Securities Identified as Intent (or Requirement) to Sell during the Period						Ending Balance
($ in thousands)
Foreign government			$	46					291						—						4						(57)						—						284
Obligations of states and political subdivisons			137						1,087						—						(6)						(194)						—						1,024
Corporate securities			6,682						30,670						—						3,714						(6,902)						(3,834)						30,330
CLO and other ABS			939						2,158						—						(652)						(50)						(20)						2,375
RMBS			1,909						245						8,318						1,558						(433)						—						11,597
CMBS			11						110						—						(10)						—						—						111
Total AFS fixed income securities			$	9,724					34,561						8,318						4,608						(7,636)						(3,854)						45,721

2021			Beginning Balance						Current Provisions for Securities without Prior Allowance						Increase (Decrease) on Securities with Prior Allowance, excluding intent (or Requirements) to Sell Securities						Reductions for Securities Sold						Reductions for Securities Identified as Intent (or Requirement) to Sell during the Period						Ending Balance
($ in thousands)
Foreign government			$	1					46						(1)						—						—						46
Obligations of states and political subdivisons			4						122						11						—						—						137
Corporate securities			2,782						5,785						(992)						(723)						(170)						6,682
CLO and other ABS			592						579						(211)						(21)						—						939
RMBS			561						1,593						(63)						(182)						—						1,909
CMBS			29						10						(28)						—						—						11
Total AFS fixed income securities			$	3,969					8,135						(1,284)						(926)						(170)						9,724

Schedule of Fair Value and Gross Pre-Tax Net Unrealized/Unrecognized Loss of Securities by Length of Time

December 31, 2022						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:
U.S. government and government agencies						$	166,975					(13,658)						16,011						(6,668)						182,986						(20,326)
Foreign government						5,573						(608)						2,456						(699)						8,029						(1,307)
Obligations of states and political subdivisions						681,795						(43,767)						16,618						(4,234)						698,413						(48,001)
Corporate securities						1,889,492						(164,197)						133,223						(32,612)						2,022,715						(196,809)
CLO and other ABS						916,423						(69,155)						411,283						(52,565)						1,327,706						(121,720)
RMBS						887,229						(76,432)						108,041						(22,833)						995,270						(99,265)
CMBS						512,953						(37,815)						77,181						(11,945)						590,134						(49,760)
Total AFS fixed income securities						$	5,060,440					(405,632)						764,813						(131,556)						5,825,253						(537,188)

December 31, 2021						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:
U.S. government and government agencies						$	34,857					(746)						7,827						(399)						42,684						(1,145)
Foreign government						2,000						(84)						1,061						(39)						3,061						(123)
Obligations of states and political subdivisions						25,837						(235)						—						—						25,837						(235)
Corporate securities						300,549						(4,903)						2,520						(50)						303,069						(4,953)
CLO and other ABS						663,976						(4,934)						53,368						(1,350)						717,344						(6,284)
RMBS						236,010						(2,931)						20						(1)						236,030						(2,932)
CMBS						112,899						(1,016)						20,326						(666)						133,225						(1,682)
Total AFS fixed income securities						$	1,376,128					(14,849)						85,122						(2,505)						1,461,250						(17,354)

Schedule of Investments Classified by Contractual Maturity Date

						AFS						HTM
($ in thousands)						Fair Value						Carrying Value						Fair Value
Due in one year or less						$	324,394					6,093						6,090
Due after one year through five years						2,928,594						3,779						3,798
Due after five years through 10 years						2,600,001						21,285						19,949
Due after 10 years						759,118						—						—
Total fixed income securities						$	6,612,107					31,157						29,837

Schedule of Other Investment Portfolio by Strategy and the Remaining Commitment Amount Associated With Each Strategy

						December 31, 2022																		December 31, 2021
($ in thousands)						Carrying Value						Remaining Commitment						Maximum Exposure to Loss						Carrying Value						Remaining Commitment						Maximum Exposure to Loss
Alternative investments
Private equity						$	280,980					134,676						415,656						273,070						99,734						372,804
Private credit						54,866						89,481						144,347						63,138						92,674						155,812
Real assets						35,470						21,945						57,415						23,524						22,579						46,103
Total alternative investments						371,316						246,102						617,418						359,732						214,987						574,719

Schedule of Aggregated Summarized Balance Sheet Financial Information For Partnerships In Our Alternative Investment Portfolio

Balance Sheet Information
December 31,
($ in millions)						2022						2021
Investments						$	114,038					107,347
Total assets						128,158						112,232
Total liabilities						15,464						12,371
Total partners’ capital						112,694						99,861

Schedule of Aggregated Summarized Income Statement Financial Information For Partnerships In Our Alternative Investment Portfolio

Income Statement Information
12 months ended September 30,
($ in millions)						2022						2021						2020
Net investment income (loss)						$	765					653						(26)
Realized gains						12,590						6,121						1,452
Net change in unrealized appreciation						(5,215)						26,877						4,898
Net income						$	8,140					33,651						6,324
Alternative investment income included in "Net investment income earned" on our Consolidated Statements of Income						23.0						117.7						26.5

Schedule Of Securities Pledged As Collateral

($ in millions)						FHLBI Collateral						FHLBNY Collateral						Regulatory Deposits						Total
U.S. government and government agencies						$	—					—						19.3						19.3
Obligations of states and political subdivisions						—						—						3.6						3.6
RMBS						61.4						28.8						—						90.2
CMBS						4.6						9.6						—						14.2
Total pledged as collateral						$	66.0					38.4						22.9						127.3

Schedule of Components of Pre-Tax Net Investment Income Earned

($ in thousands)						2022						2021						2020
Fixed income securities						$	259,918					209,709						203,926
CMLs						5,555						2,743						844
Equity securities						13,554						15,920						9,286
Short-term investments						3,997						260						1,821
Alternative investments						23,003						117,701						26,504
Other investments						258						359						418
Investment expenses						(18,130)						(20,103)						(15,692)
Net investment income earned						$	288,155					326,589						227,107

Schedule of realized and unrealized gains (losses) on securities

($ in thousands)						2022						2021						2020
Gross gains on sales						$	28,419					15,284						18,893
Gross losses on sales						(60,055)						(8,140)						(9,745)
Net realized (losses) gains on disposals						(31,636)						7,144						9,148
Net unrealized (losses) gains on equity securities						(32,127)						17,881						7,939
Net credit loss (expense) on fixed income securities, AFS						(39,169)						(6,858)						(5,042)
Net credit loss (expense) benefit on fixed income securities, HTM						63						(49)						4
Net credit loss (expense) on CMLs						(116)						—						—
Losses on securities for which we have the intent to sell						(11,823)						(519)						(16,266)
Net realized and unrealized investment (losses) gains						$	(114,808)					17,599						(4,217)

Unrealized Gain (Loss) on Equity Securities

($ in thousands)						2022						2021						2020
Unrealized (losses) gains recognized in income on equity securities:
On securities remaining in our portfolio at end of period						$	(10,454)					16,473						7,936
On securities sold in period						(21,673)						1,408						3
Total unrealized (losses) gains recognized in income on equity securities						$	(32,127)					17,881						7,939

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