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v3.21.2

Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Revenue from External Customers by Products and Services | Earned Premiums by product line for the six and three months ended June 30, 2021 and 2020 were:
|  | Six Months Ended |  | Three Months Ended
(Dollars in Millions) |  | Jun 30, 2021 |  | Jun 30, 2020 |  | Jun 30, 2021 |  | Jun 30, 2020
Specialty Property & Casualty Insurance: |  |  |  |  |  |  |  |
Specialty Automobile |  | $ | 1,695.0 |  |  | $ | 1,443.0 |  |  | $ | 909.6 |  |  | $ | 689.8 |
Commercial Automobile |  | 192.9 |  |  | 138.5 |  |  | 100.7 |  |  | 69.2 |
Preferred Property & Casualty Insurance: |  |  |  |  |  |  |  |
Personal Automobile |  | 206.5 |  |  | 214.0 |  |  | 103.5 |  |  | 99.1 |
Homeowners |  | 102.1 |  |  | 112.4 |  |  | 51.3 |  |  | 55.6 |
Other Personal Lines |  | 16.8 |  |  | 18.1 |  |  | 8.4 |  |  | 8.9 |
Life & Health Insurance: |  |  |  |  |  |  |  |
Life |  | 198.7 |  |  | 192.9 |  |  | 100.6 |  |  | 95.7 |
Accident and Health |  | 95.3 |  |  | 100.2 |  |  | 47.9 |  |  | 50.8 |
Property |  | 31.2 |  |  | 32.6 |  |  | 15.7 |  |  | 16.2 |
Total Earned Premiums |  | $ | 2,538.5 |  |  | $ | 2,251.7 |  |  | $ | 1,337.7 |  |  | $ | 1,085.3 |
Reconciliation of Revenue from Segments to Consolidated | Segment Revenues, including a reconciliation to Total Revenues, for the six and three months ended June 30, 2021 and 2020 were:
|  | Six Months Ended |  | Three Months Ended
(Dollars in Millions) |  | Jun 30, 2021 |  | Jun 30, 2020 |  | Jun 30, 2021 |  | Jun 30, 2020
Segment Revenues: |  |  |  |  |  |  |  |
Specialty Property & Casualty Insurance: |  |  |  |  |  |  |  |
Earned Premiums |  | $ | 1,887.9 |  |  | $ | 1,581.5 |  |  | $ | 1,010.3 |  |  | 759.0 |
Net Investment Income |  | 77.7 |  |  | 45.7 |  |  | 42.7 |  |  | 16.9 |
Change in Value of Alternative Energy Partnership Investments |  | (11.0) |  |  | — |  |  | (3.7) |  |  | — |
Other Income |  | 1.9 |  |  | 1.0 |  |  | 1.0 |  |  | 0.1 |
Total Specialty Property & Casualty Insurance |  | 1,956.5 |  |  | 1,628.2 |  |  | 1,050.3 |  |  | 776.0 |
Preferred Property & Casualty Insurance: |  |  |  |  |  |  |  |
Earned Premiums |  | 325.4 |  |  | 344.5 |  |  | 163.2 |  |  | $ | 163.6 |
Net Investment Income |  | 35.4 |  |  | 14.0 |  |  | 19.5 |  |  | 4.3 |
Change in Value of Alternative Energy Partnership Investments |  | (6.1) |  |  | — |  |  | (2.0) |  |  | — |
Other Income |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Total Preferred Property & Casualty Insurance |  | 354.7 |  |  | 358.6 |  |  | 180.7 |  |  | 168.0 |
Life & Health Insurance: |  |  |  |  |  |  |  |
Earned Premiums |  | 325.2 |  |  | 325.7 |  |  | 164.2 |  |  | 162.7 |
Net Investment Income |  | 103.5 |  |  | 95.3 |  |  | 52.4 |  |  | 44.3 |
Change in Value of Alternative Energy Partnership Investments |  | (6.0) |  |  | — |  |  | (2.0) |  |  | — |
Other Income |  | 0.2 |  |  | 0.6 |  |  | 0.1 |  |  | 0.5 |
Total Life & Health Insurance |  | 422.9 |  |  | 421.6 |  |  | 214.7 |  |  | 207.5 |
Total Segment Revenues |  | 2,734.1 |  |  | 2,408.4 |  |  | 1,445.7 |  |  | 1,151.5 |
Income (Loss) from Change in Fair Value of Equity and Convertible Securities |  | 93.0 |  |  | (46.2) |  |  | 40.8 |  |  | 71.6 |
Net Realized Gains on Sales of Investments |  | 33.0 |  |  | 28.2 |  |  | 19.2 |  |  | 11.7 |
Impairment Losses |  | (7.2) |  |  | (19.0) |  |  | (3.2) |  |  | (7.0) |
Other |  | 6.8 |  |  | 88.5 |  |  | 5.2 |  |  | 3.1 |
Total Revenues |  | $ | 2,859.7 |  |  | $ | 2,459.9 |  |  | $ | 1,507.7 |  |  | $ | 1,230.9 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | Segment Operating Income (Loss), including a reconciliation to Income (Loss) before Income Taxes, for the six and three months ended June 30, 2021 and 2020 was:
|  | Six Months Ended |  | Three Months Ended
(Dollars in Millions) |  | Jun 30, 2021 |  | Jun 30, 2020 |  | Jun 30, 2021 |  | Jun 30, 2020
Segment Operating Income (Loss): |  |  |  |  |  |  |  |
Specialty Property & Casualty Insurance |  | $ | (36.9) |  |  | $ | 159.5 |  |  | $ | (122.1) |  |  | 84.5 |
Preferred Property & Casualty Insurance |  | (10.4) |  |  | 23.8 |  |  | (13.4) |  |  | 0.8 |
Life & Health Insurance |  | 12.4 |  |  | 46.4 |  |  | 13.2 |  |  | 19.9 |
Total Segment Operating Income (Loss) |  | (34.9) |  |  | 229.7 |  |  | (122.3) |  |  | 105.2 |
Corporate and Other Operating Income (Loss) From: |  |  |  |  |  |  |  |
Partial Satisfaction of Judgment |  | — |  |  | 89.4 |  |  | — |  |  | — |
Other |  | (25.3) |  |  | (15.8) |  |  | (13.8) |  |  | (4.7) |
Corporate and Other Operating Income (Loss) |  | (25.3) |  |  | 73.6 |  |  | (13.8) |  |  | (4.7) |
Adjusted Consolidated Operating Income (Loss) |  | (60.2) |  |  | 303.3 |  |  | (136.1) |  |  | 100.5 |
Income (Loss) from Change in Fair Value of Equity and Convertible Securities |  | 93.0 |  |  | (46.2) |  |  | 40.8 |  |  | 71.6 |
Net Realized Gains on Sales of Investments |  | 33.0 |  |  | 28.2 |  |  | 19.2 |  |  | 11.7 |
Impairment Losses |  | (7.2) |  |  | (19.0) |  |  | (3.2) |  |  | (7.0) |
Acquisition Related Transaction, Integration and Other Costs |  | (26.7) |  |  | (28.9) |  |  | (10.4) |  |  | (17.1) |
Income (Loss) before Income Taxes |  | $ | 31.9 |  |  | $ | 237.4 |  |  | $ | (89.7) |  |  | $ | 159.7 |
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated | Segment Net Operating Income (Loss), including a reconciliation to Net Income (Loss), for the six and three months ended June 30, 2021 and 2020 was:
|  | Six Months Ended |  | Three Months Ended
(Dollars in Millions and Net of Income Taxes) |  | Jun 30, 2021 |  | Jun 30, 2020 |  | Jun 30, 2021 |  | Jun 30, 2020
Segment Net Operating Income (Loss): |  |  |  |  |  |  |  |
Specialty Property & Casualty Insurance |  | $ | (11.6) |  |  | $ | 127.6 |  |  | $ | (91.7) |  |  | $ | 67.5 |
Preferred Property & Casualty Insurance |  | 1.3 |  |  | 19.3 |  |  | (8.3) |  |  | 0.9 |
Life & Health Insurance |  | 20.3 |  |  | 38.4 |  |  | 13.0 |  |  | 16.1 |
Total Segment Net Operating Income (Loss) |  | 10.0 |  |  | 185.3 |  |  | (87.0) |  |  | 84.5 |
Corporate and Other Net Operating Income (Loss) From: |  |  |  |  |  |  |  |
Partial Satisfaction of Judgment |  | — |  |  | 70.6 |  |  | — |  |  | — |
Other |  | (22.2) |  |  | (13.8) |  |  | (12.4) |  |  | (5.3) |
Total Corporate and Other Net Operating Income (Loss) |  | (22.2) |  |  | 56.8 |  |  | (12.4) |  |  | (5.3) |
Adjusted Consolidated Net Operating Income (Loss) |  | (12.2) |  |  | 242.1 |  |  | (99.4) |  |  | 79.2 |
Net Income (Loss) From: |  |  |  |  |  |  |  |
Change in Fair Value of Equity and Convertible Securities |  | 73.5 |  |  | (36.5) |  |  | 32.3 |  |  | 56.6 |
Net Realized Gains on Sales of Investments |  | 26.1 |  |  | 22.3 |  |  | 15.2 |  |  | 9.3 |
Impairment Losses |  | (5.7) |  |  | (15.0) |  |  | (2.5) |  |  | (5.5) |
Acquisition Related Transaction, Integration and Other Costs |  | (21.1) |  |  | (22.8) |  |  | (8.2) |  |  | (13.5) |
Net Income (Loss) |  | $ | 60.6 |  |  | $ | 190.1 |  |  | $ | (62.6) |  |  | $ | 126.1 |

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