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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Summary of Income Tax Assets and Liabilities | The income tax assets and liabilities included in Other assets and Other liabilities, respectively, in the Consolidated Balance Sheets were as follows (2022 recast for the adoption of LDTI):
($ in millions) |  | December 31,
|  | 2023 |  | 2022
Income tax (asset) liability |  |  |  |
Current |  | $ | (25.9) |  |  | $ | (18.8) |
Deferred |  | 33.4 |  |  | 8.8 |
Summary of Deferred Tax Assets and Liabilities | The "temporary differences" that gave rise to the deferred tax balances were as follows (2022 recast for the adoption of LDTI):
($ in millions) |  | December 31,
|  | 2023 |  | 2022
Deferred tax assets |  |  |  |
Other comprehensive income - net unrealized losses on securities |  | $ | 82.1 |  |  | $ | 105.8 |
Unearned premium reserve reduction |  | 13.3 |  |  | 10.1 |
Compensation accruals |  | 9.3 |  |  | 8.4 |
Impaired securities |  | 2.0 |  |  | 2.0 |
Other comprehensive income - net funded status of benefit plans |  | 2.0 |  |  | 2.3 |
Discounting of unpaid claims and claim expense tax reserves |  | 2.7 |  |  | 2.8 |
Capital loss carryforward |  | 0.8 |  |  | — |
Net operating loss carryforward |  | 9.3 |  |  | 3.6 |
Intangibles |  | 1.4 |  |  | — |
Postretirement benefits other than pensions |  | 0.2 |  |  | 0.2 |
Total gross deferred tax assets |  | 123.1 |  |  | 135.2 |
Deferred tax liabilities |  |  |  |
Deferred policy acquisition costs |  | 45.9 |  |  | 48.5 |
Life insurance future policy benefit reserve |  | 46.4 |  |  | 42.4 |
Life insurance future policy benefit reserve (transitional rule) |  | 4.3 |  |  | 6.4 |
Discounting of unpaid claims and claim expense tax reserves (transitional rule) |  | 0.3 |  |  | 0.5 |
Investment related adjustments |  | 44.8 |  |  | 29.9 |
Other comprehensive income - net reserve remeasurements |  | 5.8 |  |  | 15.7 |
Other, net |  | 9.0 |  |  | 0.6 |
Total gross deferred tax liabilities |  | 156.5 |  |  | 144.0 |
Net deferred tax liability |  | $ | 33.4 |  |  | $ | 8.8 |
Summary of Income Taxes Expenses | The components of the provision for income tax expense (benefit) were as follows (2022 and 2021 recast for the adoption of LDTI):
($ in millions) |  | Years Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Current |  | $ | 6.5 |  |  | $ | (0.7) |  |  | $ | 27.7 |
Deferred |  | 1.8 |  |  | (2.6) |  |  | 12.0 |
Total income tax expense (benefit) |  | $ | 8.3 |  |  | $ | (3.3) |  |  | $ | 39.7 |
Summary of Income Taxes Expenses Reconciliation | Income tax expense for the following periods differed from the expected tax computed by applying the federal corporate tax rate of 21% for 2023, 2022 and 2021 to income before income taxes as follows (2022 and 2021 recast for the adoption of LDTI):
($ in millions) |  | Years Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Expected federal tax on income |  | $ | 11.2 |  |  | $ | 3.5 |  |  | $ | 44.1 |
Add (deduct) tax effects of: |  |  |  |  |  |
Tax-exempt interest |  | (2.7) |  |  | (3.3) |  |  | (3.9) |
Dividend received deduction |  | (1.3) |  |  | (3.2) |  |  | (2.2) |
Employee share-based compensation |  | 0.1 |  |  | (0.5) |  |  | (1.3) |
Contingent consideration |  | — |  |  | (0.3) |  |  | — |
Compensation deduction limitation |  | 0.8 |  |  | 0.7 |  |  | 1.5 |
Research and development reserve |  | (0.2) |  |  | (0.4) |  |  | (0.2) |
Prior year adjustments |  | 0.3 |  |  | 0.1 |  |  | 0.1 |
Other, net |  | 0.1 |  |  | 0.1 |  |  | 1.6 |
Income tax expense (benefit) provided on income |  | $ | 8.3 |  |  | $ | (3.3) |  |  | $ | 39.7 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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