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Short-Duration Insurance Contracts (Tables) | 6 Months Ended
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Jun. 30, 2024
Insurance Loss Reserves [Abstract] |
Schedule of Reconciliation of Property and Casualty Unpaid Claims and Claim Expense | The following table is a summary reconciliation of the beginning and ending Property & Casualty unpaid claims and claim expense reserves for the periods indicated. The table presents reserves on both a gross and net (after reinsurance) basis. The total net Property & Casualty insurance claims and claim expense incurred amounts are reflected in the Consolidated Statements of Operations and Comprehensive Income (Loss). The end of period gross reserves (before reinsurance balances and reinsurance recoverable balances) are reflected on a gross basis in the Consolidated Balance Sheets.
($ in millions) |  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Property & Casualty |  |  |  |  |  |  |  |
Beginning gross reserves |  | $ | 418.2 |  |  | $ | 397.8 |  |  | $ | 416.8 |  |  | $ | 388.7 |
Less: reinsurance recoverables |  | 103.6 |  |  | 101.3 |  |  | 104.0 |  |  | 100.8 |
Net reserves, beginning of period(1) |  | 314.6 |  |  | 296.5 |  |  | 312.8 |  |  | 287.9 |
Incurred claims and claim expenses: |  |  |  |  |  |  |  |
Claims occurring in the current period |  | 159.0 |  |  | 152.0 |  |  | 283.7 |  |  | 280.8 |
Increase (decrease) in estimated reserves for claims occurring in prior periods(2) |  | (6.2) |  |  | — |  |  | (6.2) |  |  | — |
Total claims and claim expenses incurred |  | 152.8 |  |  | 152.0 |  |  | 277.5 |  |  | 280.8 |
Claims and claim expense payments for claims occurring during: |  |  |  |  |  |  |  |
Current period |  | 94.2 |  |  | 90.2 |  |  | 138.7 |  |  | 130.8 |
Prior periods |  | 42.0 |  |  | 46.8 |  |  | 120.4 |  |  | 126.4 |
Total claims and claim expense payments |  | 136.2 |  |  | 137.0 |  |  | 259.1 |  |  | 257.2 |
Net reserves, end of period(1) |  | 331.2 |  |  | 311.5 |  |  | 331.2 |  |  | 311.5 |
Plus: reinsurance recoverables |  | 101.7 |  |  | 104.3 |  |  | 101.7 |  |  | 104.3 |
Ending gross reserves |  | $ | 432.9 |  |  | $ | 415.8 |  |  | $ | 432.9 |  |  | $ | 415.8 |
(1)Reserves net of expected reinsurance recoverables. (2)Shows the amounts by which the Company increased (decreased) its reserves in each of the periods indicated for claims occurring in previous periods to reflect subsequent information on such claims and changes in their projected final settlement costs - also known as prior years' reserve development. The following table is a summary reconciliation of the beginning and ending Group Benefits unpaid claims and claim expense reserves for the periods indicated. The table presents reserves on both a gross and net (after reinsurance). The total net Group Benefits insurance claims and claim expense incurred amounts are reflected in the Consolidated Statements of Operations and Comprehensive Income (Loss). The end of period gross reserves (before reinsurance balances and reinsurance recoverable balances) are reflected on a gross basis in the Consolidated Balance Sheets.
($ in millions) |  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Group Benefits |  |  |  |  |  |  |  |
Beginning gross reserves |  | $ | 114.3 |  |  | $ | 120.3 |  |  | $ | 116.6 |  |  | $ | 121.6 |
Less: reinsurance recoverables |  | 27.6 |  |  | 28.0 |  |  | 27.7 |  |  | 27.9 |
Net reserves, beginning of period(1) |  | 86.7 |  |  | 92.3 |  |  | 88.9 |  |  | 93.7 |
Incurred claims and claim expenses: |  |  |  |  |  |  |  |
Claims occurring in the current period |  | 19.4 |  |  | 20.8 |  |  | 39.6 |  |  | 41.0 |
Increase (decrease) in estimated reserves for claims occurring in prior periods(2) |  | (3.3) |  |  | (3.0) |  |  | (9.4) |  |  | (7.9) |
Total claims and claim expenses incurred |  | 16.1 |  |  | 17.8 |  |  | 30.2 |  |  | 33.1 |
Claims and claim expense payments for claims occurring during: |  |  |  |  |  |  |  |
Current period |  | 8.2 |  |  | 8.9 |  |  | 12.1 |  |  | 13.1 |
Prior periods |  | 6.5 |  |  | 7.6 |  |  | 18.9 |  |  | 20.0 |
Total claims and claim expense payments |  | 14.7 |  |  | 16.5 |  |  | 31.0 |  |  | 33.1 |
Net reserves, end of period(1) |  | 88.1 |  |  | 93.7 |  |  | 88.1 |  |  | 93.7 |
Plus: reinsurance recoverables |  | 28.0 |  |  | 28.2 |  |  | 28.0 |  |  | 28.2 |
Ending gross reserves |  | $ | 116.1 |  |  | $ | 121.9 |  |  | $ | 116.1 |  |  | $ | 121.9 |
(1) Reserves net of expected reinsurance recoverables. (2) Shows the amounts by which the Company increased (decreased) its reserves in each of the periods indicated for claims occurring in previous periods to reflect subsequent information on such claims and changes in their projected final settlement costs - also known as prior years' reserve development.
Schedule of Reconciliation of Net Incurred and Paid Claims Development To Liability for Claims and Claim Adjustment Expenses |
($ in millions) |  | As of June 30, 2024 |  | As of December 31, 2023
Ending gross reserves |  |  |  |
Property & Casualty |  | $ | 432.9 |  |  | $ | 416.8 |
Group Benefits |  | 116.1 |  |  | 116.6 |
Total short-duration insurance contracts |  | 549.0 |  |  | 533.4 |
Other than short-duration(1) |  | 47.6 |  |  | 48.3 |
Total unpaid claims and claims expenses |  | $ | 596.6 |  |  | $ | 581.7 |
(1) This line includes Life & Retirement, Supplemental, and other certain group benefit reserves.

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- Definition Schedule of Reconciliation of Net Incurred and Paid Claims Development To Liability for Claims and Claim Adjustment Expenses + References No definition available. + Details
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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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