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v3.25.3

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information for these Segments | Disaggregated financial information for these segments, as regularly provided to the CODM as of and for the three months ended September 30, 2025, is as follows:
|  | Property & Casualty |  | Life & Retirement |  | Supplemental & Group Benefits |  | Corporate & Other* |  | Totals
($ in millions) |  |  |  |  |
Net premiums and contract charges earned |  | $ | 204.7 |  |  | $ | 39.2 |  |  | $ | 66.4 |  |  | $ | — |  |  | $ | 310.3 |
Net investment income |  | 14.7 |  |  | 94.0 |  |  | 11.1 |  |  | (0.3) |  |  | 119.6 |
Other segment income |  | 0.6 |  |  | 6.1 |  |  | (1.9) |  |  | 0.5 |  |  | 5.3 |
Total segment revenues |  | $ | 220.0 |  |  | $ | 139.3 |  |  | $ | 75.6 |  |  | $ | 0.2 |  |  | $ | 435.2 |
Benefits and claims expenses (excluding catastrophe losses) |  | $ | 95.2 |  |  | $ | 31.2 |  |  | $ | 19.0 |  |  | $ | — |  |  | $ | 145.4 |
Catastrophe losses |  | 9.9 |  |  | — |  |  | — |  |  | — |  |  | 9.9 |
Loss adjustment expenses |  | 18.1 |  |  | — |  |  | — |  |  | — |  |  | 18.1 |
Interest credited |  | — |  |  | 54.2 |  |  | 1.5 |  |  | — |  |  | 55.7 |
Operating & admin expenses |  | 34.5 |  |  | 25.0 |  |  | 21.6 |  |  | 2.8 |  |  | 84.0 |
Commissions expense |  | 21.2 |  |  | 10.9 |  |  | 10.7 |  |  | — |  |  | 42.8 |
Taxes, licenses and fees |  | 5.8 |  |  | 0.9 |  |  | 1.1 |  |  | 0.2 |  |  | 8.0 |
Deferred policy acquisition costs |  | (30.2) |  |  | (7.1) |  |  | (1.3) |  |  | — |  |  | (38.6) |
Deferred policy acquisition cost amortization |  | 25.1 |  |  | 5.9 |  |  | 0.5 |  |  | — |  |  | 31.5 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 8.9 |  |  | 8.9 |
Total segment expenses |  | $ | 179.7 |  |  | $ | 121.1 |  |  | $ | 53.1 |  |  | $ | 11.9 |  |  | $ | 365.8 |
Pretax profit (loss) |  | $ | 40.4 |  |  | $ | 18.2 |  |  | $ | 22.5 |  |  | $ | (11.7) |  |  | $ | 69.4 |
Income tax expense |  | 8.5 |  |  | 3.1 |  |  | 4.7 |  |  | (3.6) |  |  | 12.7 |
Segment profit (loss) (Core earnings) |  | 31.8 |  |  | 15.1 |  |  | 17.8 |  |  | (8.1) |  |  | 56.7 |
Net investment losses (after-tax) |  | — |  |  | — |  |  | — |  |  | (2.7) |  |  | (2.7) |
Non-core income adjustments (after-tax) |  | — |  |  | (1.8) |  |  | 2.8 |  |  | — |  |  | 1.0 |
Net income |  | $ | 31.8 |  |  | $ | 16.9 |  |  | $ | 15.0 |  |  | $ | (5.4) |  |  | $ | 58.3 |
*-Corporate & Other is net of intersegment eliminations. Disaggregated financial information for these segments, as regularly provided to the CODM as of and for the nine months ended September 30, 2025, is as follows:
|  | Property & Casualty |  | Life & Retirement |  | Supplemental & Group Benefits |  | Corporate & Other* |  | Totals
($ in millions) |  |  |  |  |
Net premiums and contract charges earned |  | $ | 594.7 |  |  | $ | 117.3 |  |  | $ | 199.2 |  |  | $ | — |  |  | $ | 911.2 |
Net investment income(1) |  | 41.4 |  |  | 280.2 |  |  | 31.1 |  |  | 3.8 |  |  | 356.5 |
Other segment income |  | 2.6 |  |  | 15.8 |  |  | (4.9) |  |  | 1.5 |  |  | 15.0 |
Total segment revenues |  | $ | 638.7 |  |  | $ | 413.3 |  |  | $ | 225.4 |  |  | $ | 5.3 |  |  | $ | 1,282.7 |
Benefits and claims expenses (excluding catastrophe losses) |  | $ | 270.5 |  |  | $ | 93.0 |  |  | $ | 68.8 |  |  | $ | — |  |  | $ | 432.3 |
Catastrophe losses |  | 56.0 |  |  | — |  |  | — |  |  | — |  |  | 56.0 |
Loss adjustment expenses |  | 51.6 |  |  | — |  |  | — |  |  | — |  |  | 51.6 |
Interest credited |  | — |  |  | 157.3 |  |  | 3.9 |  |  | — |  |  | 161.2 |
Operating & admin expenses |  | 101.3 |  |  | 72.9 |  |  | 60.1 |  |  | 8.8 |  |  | 243.1 |
Commissions expense |  | 54.6 |  |  | 30.5 |  |  | 33.2 |  |  | — |  |  | 118.3 |
Taxes, licenses and fees |  | 16.8 |  |  | 3.2 |  |  | 4.2 |  |  | 0.5 |  |  | 24.7 |
Deferred policy acquisition costs |  | (79.2) |  |  | (19.2) |  |  | (3.7) |  |  | — |  |  | (102.1) |
Deferred policy acquisition cost amortization |  | 72.0 |  |  | 17.6 |  |  | 1.4 |  |  | — |  |  | 91.0 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 26.4 |  |  | 26.4 |
Total segment expenses |  | $ | 543.6 |  |  | $ | 355.3 |  |  | $ | 167.9 |  |  | $ | 35.7 |  |  | $ | 1,102.5 |
Pretax profit (loss) |  | $ | 95.0 |  |  | $ | 58.0 |  |  | $ | 57.5 |  |  | $ | (30.4) |  |  | $ | 180.2 |
Income tax expense |  | 19.9 |  |  | 10.4 |  |  | 12.3 |  |  | (8.0) |  |  | 34.6 |
Segment profit (loss) (Core earnings) |  | 75.1 |  |  | 47.6 |  |  | 45.2 |  |  | (22.4) |  |  | 145.6 |
Net investment losses (after-tax) |  | — |  |  | — |  |  | — |  |  | 4.6 |  |  | 4.6 |
Non-core income adjustments (after-tax)(1) |  | — |  |  | 3.9 |  |  | 11.1 |  |  | — |  |  | 15.0 |
Net income |  | $ | 75.1 |  |  | $ | 43.7 |  |  | $ | 34.1 |  |  | $ | (27.0) |  |  | $ | 125.9 |
*-Corporate & Other is net of intersegment eliminations. (1) In the second quarter of 2025, the Company recorded a reduction in net investment income due to an immaterial out-of-period correction of an error. See additional disclosure contained in Note 1 of the September 30, 2025 Form 10-Q. Disaggregated financial information for these segments, as regularly provided to the CODM as of and for the three months ended September 30, 2024, is as follows:
|  | Property & Casualty |  | Life & Retirement |  | Supplemental & Group Benefits |  | Corporate & Other* |  | Totals
($ in millions) |  |  |  |  |
Net premiums and contract charges earned |  | $ | 187.3 |  |  | $ | 39.1 |  |  | $ | 62.7 |  |  | $ | — |  |  | $ | 289.1 |
Net investment income(1) |  | 8.8 |  |  | 94.6 |  |  | 10.1 |  |  | (0.5) |  |  | 113.0 |
Other segment income |  | 0.6 |  |  | 5.3 |  |  | (0.4) |  |  | 0.7 |  |  | 6.2 |
Total segment revenues |  | $ | 196.7 |  |  | $ | 139.0 |  |  | $ | 72.4 |  |  | $ | 0.2 |  |  | $ | 408.3 |
Benefits and claims expenses (excluding catastrophe losses) |  | $ | 83.0 |  |  | $ | 34.9 |  |  | $ | 21.3 |  |  | $ | — |  |  | $ | 139.2 |
Catastrophe losses |  | 34.0 |  |  | — |  |  | — |  |  | — |  |  | 34.0 |
Loss adjustment expenses |  | 17.7 |  |  | — |  |  | — |  |  | — |  |  | 17.7 |
Interest credited |  | — |  |  | 53.6 |  |  | 1.2 |  |  | — |  |  | 54.8 |
Operating & admin expenses |  | 28.9 |  |  | 21.5 |  |  | 17.1 |  |  | 2.7 |  |  | 70.2 |
Commissions expense |  | 16.8 |  |  | 10.5 |  |  | 9.5 |  |  | — |  |  | 36.8 |
Taxes, licenses and fees |  | 5.6 |  |  | 1.0 |  |  | 1.3 |  |  | 0.1 |  |  | 8.0 |
Deferred policy acquisition costs |  | (24.3) |  |  | (6.8) |  |  | (0.9) |  |  | — |  |  | (32.0) |
Deferred policy acquisition cost amortization |  | 21.7 |  |  | 5.9 |  |  | 0.5 |  |  | — |  |  | 28.1 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 8.7 |  |  | 8.7 |
Total segment expenses |  | $ | 183.4 |  |  | $ | 120.6 |  |  | $ | 50.0 |  |  | $ | 11.5 |  |  | $ | 365.5 |
Pretax profit (loss) |  | $ | 13.3 |  |  | $ | 18.5 |  |  | $ | 22.4 |  |  | $ | (11.3) |  |  | $ | 42.8 |
Income tax expense |  | 2.6 |  |  | 3.4 |  |  | 4.8 |  |  | (2.3) |  |  | 8.5 |
Segment profit (loss) (Core earnings) |  | 10.7 |  |  | 15.1 |  |  | 17.6 |  |  | (9.0) |  |  | 34.3 |
Net investment losses (after-tax) |  | — |  |  | — |  |  | — |  |  | 3.0 |  |  | 3.0 |
Change in MRB (after-tax) |  | — |  |  | (0.3) |  |  | — |  |  | — |  |  | (0.3) |
Intangible asset amortization (after-tax) |  | — |  |  | — |  |  | (2.8) |  |  | — |  |  | (2.8) |
Net income |  | $ | 10.7 |  |  | $ | 14.8 |  |  | $ | 14.8 |  |  | $ | (6.0) |  |  | $ | 34.3 |
*-Corporate & Other is net of intersegment eliminations. (1) In the second quarter of 2025, the Company recorded a reduction in net investment income due to an immaterial out-of-period correction of an error. See additional disclosure contained in Note 1 of the September 30, 2025 Form 10-Q. Disaggregated financial information for these segments, as regularly provided to the CODM as of and for the nine months ended September 30, 2024, is as follows:
|  | Property & Casualty |  | Life & Retirement |  | Supplemental & Group Benefits |  | Corporate & Other* |  | Totals
($ in millions) |  |  |  |  |
Net premiums and contract charges earned |  | $ | 539.7 |  |  | $ | 114.9 |  |  | $ | 190.6 |  |  | $ | — |  |  | $ | 845.2 |
Net investment income(1) |  | 30.6 |  |  | 269.3 |  |  | 28.4 |  |  | (1.5) |  |  | 326.8 |
Other segment income |  | 1.9 |  |  | 14.7 |  |  | (4.6) |  |  | 2.0 |  |  | 14.0 |
Total segment revenues |  | $ | 572.2 |  |  | $ | 398.9 |  |  | $ | 214.4 |  |  | $ | 0.5 |  |  | $ | 1,186.0 |
Benefits and claims expenses (excluding catastrophe losses) |  | $ | 267.9 |  |  | $ | 98.1 |  |  | $ | 66.6 |  |  | $ | — |  |  | $ | 432.6 |
Catastrophe losses |  | 91.1 |  |  | — |  |  | — |  |  | — |  |  | 91.1 |
Loss adjustment expenses |  | 53.2 |  |  | — |  |  | — |  |  | — |  |  | 53.2 |
Interest credited |  | — |  |  | 158.0 |  |  | 3.5 |  |  | — |  |  | 161.5 |
Operating & admin expenses |  | 87.8 |  |  | 66.4 |  |  | 51.5 |  |  | 7.7 |  |  | 213.4 |
Commissions expense |  | 46.4 |  |  | 30.3 |  |  | 28.4 |  |  | — |  |  | 105.1 |
Taxes, licenses and fees |  | 15.2 |  |  | 2.8 |  |  | 4.3 |  |  | 0.6 |  |  | 22.9 |
Deferred policy acquisition costs |  | (67.3) |  |  | (20.9) |  |  | (2.9) |  |  | — |  |  | (91.1) |
Deferred policy acquisition cost amortization |  | 62.0 |  |  | 18.6 |  |  | 1.5 |  |  | — |  |  | 82.1 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 26.1 |  |  | 26.1 |
Total segment expenses |  | $ | 556.3 |  |  | $ | 353.3 |  |  | $ | 152.9 |  |  | $ | 34.4 |  |  | $ | 1,096.9 |
Pretax profit (loss) |  | $ | 15.9 |  |  | $ | 45.6 |  |  | $ | 61.5 |  |  | $ | (33.9) |  |  | $ | 89.1 |
Income tax expense |  | 3.2 |  |  | 8.2 |  |  | 13.1 |  |  | (7.0) |  |  | 17.5 |
Segment profit (loss) (Core earnings) |  | 12.7 |  |  | 37.4 |  |  | 48.4 |  |  | (26.9) |  |  | 71.6 |
Net investment losses (after-tax) |  | — |  |  | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
Change in MRB (after-tax) |  | — |  |  | 1.6 |  |  | — |  |  | — |  |  | 1.6 |
Intangible asset amortization (after-tax) |  | — |  |  | (0.2) |  |  | (8.5) |  |  | — |  |  | (8.7) |
Net income |  | $ | 12.7 |  |  | $ | 38.8 |  |  | $ | 39.9 |  |  | $ | (26.8) |  |  | $ | 64.6 |
*-Corporate & Other is net of intersegment eliminations. (1) In the second quarter of 2025, the Company recorded a reduction in net investment income due to an immaterial out-of-period correction of an error. See additional disclosure contained in Note 1 of the September 30, 2025 Form 10-Q.
Schedule of Additional Significant Financial Information for these Segments |
($ in millions) |  | September 30, 2025 |  | December 31, 2024
Assets |  |  |  |
Property & Casualty |  | $ | 1,397.8 |  |  | $ | 1,272.3 |
Life & Retirement |  | 12,212.7 |  |  | 11,670.7 |
Supplemental & Group Benefits |  | 1,413.3 |  |  | 1,377.6 |
Corporate & Other |  | 519.8 |  |  | 191.0 |
Intersegment eliminations |  | (53.9) |  |  | (23.8) |
Total |  | $ | 15,489.7 |  |  | $ | 14,487.8 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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