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Income from Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investment Income, Net [Abstract]

Net Investment Income

Net Investment Income for the years ended December 31, 2021, 2020 and 2019 was:

DOLLARS IN MILLIONS						2021						2020						2019
Investment Income:
Interest on Fixed Income Securities						$	277.7					$	289.8					$	299.4
Dividends on Equity Securities Excluding Alternative Investments						15.9						15.4						22.9
Alternative Investments:
Equity Method Limited Liability Investments						56.7						4.9						1.0
Limited Liability Investments Included in Equity Securities						46.9						22.1						18.0
Total Alternative Investments						103.6						27.0						19.0
Short-term Investments						1.0						5.5						8.2
Loans to Policyholders						21.7						22.1						22.6
Real Estate						9.3						9.6						9.8
Other						32.4						13.2						1.5
Total Investment Income						461.6						382.6						383.4
Investment Expenses:
Real Estate						9.7						8.8						9.6
Other Investment Expenses						24.6						25.6						9.5
Total Investment Expenses						34.3						34.4						19.1
Net Investment Income						$	427.3					$	348.2					$	364.3

Other Receivables includes accrued investment income of $79.6 million and $77.1 million at December 31, 2021 and 2020, respectively.

Realized Gain (Loss) on Investments

The components of Net Realized Gains on Sales of Investments for the years ended December 31, 2021, 2020 and 2019 were:

DOLLARS IN MILLIONS						2021						2020						2019
Fixed Maturities:
Gains on Sales						$	63.4					$	40.6					$	41.1
Losses on Sales						(2.1)						(7.9)						(4.8)
Equity Securities:
Gains on Sales						4.1						5.9						5.8
Losses on Sales						(0.7)						(1.9)						(0.2)
Equity Method Limited Liability Investments:
Gains on Sales						0.4						—						—
Losses on Sales						—						(0.4)						—
Real Estate:
Gains on Sales						0.1						1.8						—
Losses on Sales						(0.4)						—						—
Net Realized Gains on Sales of Investments						$	64.8					$	38.1					$	41.9
Gross Gains on Sales						$	68.0					$	48.3					$	46.9
Gross Losses on Sales						(3.2)						(10.2)						(5.0)
Net Realized Gains on Sales of Investments						$	64.8					$	38.1					$	41.9

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)

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Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

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Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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