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Investments (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items] |
Schedule of Unrealized Loss on Investments | An aging of unrealized losses on the Company’s Investments in Fixed Maturities at December 31, 2021 is presented below.
DOLLARS IN MILLIONS |  | Less Than 12 Months |  | 12 Months or Longer |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Fixed Maturities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government and Government Agencies and Authorities |  | $ | 168.7 |  |  | $ | (1.8) |  |  | $ | 1.2 |  |  | $ | (0.1) |  |  | $ | 169.9 |  |  | $ | (1.9) |
States and Political Subdivisions |  | 385.0 |  |  | (6.9) |  |  | 1.5 |  |  | (0.1) |  |  | 386.5 |  |  | (7.0) |
Foreign Governments |  | 2.2 |  |  | (0.6) |  |  | 2.6 |  |  | (0.6) |  |  | 4.8 |  |  | (1.2) |
Corporate Securities: |  |  |  |  |  |  |  |  |  |  |  |
Bonds and Notes |  | 596.8 |  |  | (13.1) |  |  | 49.3 |  |  | (2.9) |  |  | 646.1 |  |  | (16.0) |
Redeemable Preferred Stocks |  | 0.1 |  |  | — |  |  | — |  |  | — |  |  | 0.1 |  |  | — |
Collateralized Loan Obligations |  | 250.9 |  |  | (2.6) |  |  | 192.6 |  |  | (2.2) |  |  | 443.5 |  |  | (4.8) |
Other Mortgage- and Asset-backed |  | 100.1 |  |  | (1.8) |  |  | — |  |  | — |  |  | 100.1 |  |  | (1.8) |
Total Fixed Maturities |  | $ | 1,503.8 |  |  | $ | (26.8) |  |  | $ | 247.2 |  |  | $ | (5.9) |  |  | $ | 1,751.0 |  |  | $ | (32.7) |
An aging of unrealized losses on the Company’s Investments in Fixed Maturities at December 31, 2020 is presented below.
DOLLARS IN MILLIONS |  | Less Than 12 Months |  | 12 Months or Longer |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Fixed Maturities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government and Government Agencies and Authorities |  | $ | 10.5 |  |  | $ | (0.1) |  |  | $ | — |  |  | $ | — |  |  | $ | 10.5 |  |  | $ | (0.1) |
States and Political Subdivisions |  | 23.3 |  |  | (0.2) |  |  | — |  |  | — |  |  | 23.3 |  |  | (0.2) |
Foreign Governments |  | 0.5 |  |  | (0.1) |  |  | 2.6 |  |  | (1.0) |  |  | 3.1 |  |  | (1.1) |
Corporate Securities: |  |  |  |  |  |  |  |  |  |  |  |
Bonds and Notes |  | 132.9 |  |  | (7.5) |  |  | 46.1 |  |  | (3.1) |  |  | 179.0 |  |  | (10.6) |
Collateralized Loan Obligations |  | 145.2 |  |  | (3.8) |  |  | 371.4 |  |  | (15.9) |  |  | 516.6 |  |  | (19.7) |
Other Mortgage- and Asset-backed |  | 6.3 |  |  | — |  |  | — |  |  | — |  |  | 6.3 |  |  | — |
Total Fixed Maturities |  | $ | 318.7 |  |  | $ | (11.7) |  |  | $ | 420.1 |  |  | $ | (20.0) |  |  | $ | 738.8 |  |  | $ | (31.7) |
Other than Temporary Impairment, Credit Losses Recognized in Earnings | The components of Impairment Losses reported in the Consolidated Statements of Income for the years ended December 31, 2021, 2020 and 2019 were:
DOLLARS IN MILLIONS |  | 2021 |  | 2020 |  | 2019
Fixed Maturities |  | $ | (6.4) |  |  | $ | (16.7) |  |  | $ | (13.3) |
Equity Securities |  | (4.2) |  |  | (2.8) |  |  | (0.5) |
Real Estate |  | (0.4) |  |  | — |  |  | — |
Net Impairment Losses Recognized in Earnings |  | $ | (11.0) |  |  | $ | (19.5) |  |  | $ | (13.8) |
Schedule of Other Investments | The carrying values of the Company’s Other Investments at December 31, 2021 and 2020 were:
DOLLARS IN MILLIONS |  | 2021 |  | 2020
Company-Owned Life Insurance |  | $ | 448.1 |  |  | $ | 327.4 |
Loans to Policyholders at Unpaid Principal |  | 286.2 |  |  | 297.9 |
Real Estate at Depreciated Cost |  | 94.0 |  |  | 98.7 |
Mortgage Loans and Other |  | 97.3 |  |  | 55.0 |
Total |  | $ | 925.6 |  |  | $ | 779.0 |
Investments in Fixed Maturities |
Debt Securities, Available-for-sale [Line Items] |
Schedule of Available-for-sale Securities Reconciliation | The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2021 were:
DOLLARS IN MILLIONS |  | Amortized Cost |  | Gross Unrealized |  | Allowance for Expected Credit Losses |  | Fair Value
Gains |  | Losses |  |
U.S. Government and Government Agencies and Authorities |  | $ | 610.1 |  |  | $ | 29.2 |  |  | $ | (1.9) |  |  | $ | — |  |  | $ | 637.4 |
States and Political Subdivisions |  | 1,752.5 |  |  | 144.6 |  |  | (7.0) |  |  | — |  |  | 1,890.1 |
Foreign Governments |  | 6.7 |  |  | — |  |  | (1.2) |  |  | — |  |  | 5.5 |
Corporate Securities: |  |  |  |  |  |  |  |  |  |
Bonds and Notes |  | 3,929.0 |  |  | 481.4 |  |  | (16.0) |  |  | (7.5) |  |  | 4,386.9 |
Redeemable Preferred Stocks |  | 7.0 |  |  | 0.4 |  |  | — |  |  | — |  |  | 7.4 |
Collateralized Loan Obligations |  | 756.0 |  |  | 0.9 |  |  | (4.8) |  |  | — |  |  | 752.1 |
Other Mortgage- and Asset-backed |  | 296.9 |  |  | 12.4 |  |  | (1.8) |  |  | — |  |  | 307.5 |
Investments in Fixed Maturities |  | $ | 7,358.2 |  |  | $ | 668.9 |  |  | $ | (32.7) |  |  | $ | (7.5) |  |  | $ | 7,986.9 |
The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2020 were:
|  | Amortized Cost |  | Gross Unrealized |  | Allowance for Expected Credit Losses |  | Fair Value
DOLLARS IN MILLIONS |  | Gains |  | Losses |  |
U.S. Government and Government Agencies and Authorities |  | $ | 536.5 |  |  | $ | 48.9 |  |  | $ | (0.1) |  |  | $ | — |  |  | $ | 585.3 |
States and Political Subdivisions |  | 1,404.3 |  |  | 185.4 |  |  | (0.2) |  |  | — |  |  | 1,589.5 |
Foreign Governments |  | 6.6 |  |  | — |  |  | (1.1) |  |  | (0.3) |  |  | 5.2 |
Corporate Securities: |  |  |  |  |  |  |  |  |  |
Bonds and Notes |  | 3,749.5 |  |  | 689.5 |  |  | (10.6) |  |  | (3.0) |  |  | 4,425.4 |
Redeemable Preferred Stocks |  | 7.0 |  |  | 0.5 |  |  | — |  |  |  |  | 7.5 |
Collateralized Loan Obligations |  | 785.1 |  |  | 2.3 |  |  | (19.7) |  |  | — |  |  | 767.7 |
Other Mortgage- and Asset-backed |  | 203.7 |  |  | 21.6 |  |  | — |  |  | — |  |  | 225.3 |
Investments in Fixed Maturities |  | $ | 6,692.7 |  |  | $ | 948.2 |  |  | $ | (31.7) |  |  | $ | (3.3) |  |  | $ | 7,605.9 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2021 by contractual maturity were:
DOLLARS IN MILLIONS |  | Amortized Cost |  | Fair Value
Due in One Year or Less |  | $ | 109.0 |  |  | $ | 111.4 |
Due after One Year to Five Years |  | 998.3 |  |  | 1,044.2 |
Due after Five Years to Ten Years |  | 1,469.1 |  |  | 1,555.9 |
Due after Ten Years |  | 3,255.6 |  |  | 3,730.1 |
Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date |  | 1,526.2 |  |  | 1,545.3 |
Investments in Fixed Maturities |  | $ | 7,358.2 |  |  | $ | 7,986.9 |

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