Investments Mortgage Loans on Real Estate (Tables)

12 Months Ended

Sep. 30, 2015

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables:



	September 30, 2015					September 30, 2014
	Gross Carrying Value			% of Total		Gross Carrying Value		% of Total
Property Type:
Retail	$	162.7		33.2	%	$	5.8	4.3	%
Office	137.5			28.1	%	44.6		32.7	%
Industrial - Warehouse	75.5			15.4	%	48.0		35.2	%
Multifamily	64.3			13.1	%	37.8		27.8	%
Industrial - General	36.9			7.5	%	—		—	%
Hotel	12.4			2.5	%	—		—	%
Funeral Home	0.7			0.2	%	—		—	%
Total commercial mortgage loans, gross of valuation allowance	490.0			100.0	%	136.2		100.0	%
Valuation allowance	(0.8		)			—
Total commercial mortgage loans	$	489.2				$	136.2

U.S. Region:
East North Central	$	120.5		24.6	%	$	27.8	20.4	%
Pacific	113.1			23.1	%	61.5		45.1	%
Middle Atlantic	87.2			17.8	%	10.9		8.0	%
South Atlantic	68.3			13.9	%	—		—	%
Mountain	41.6			8.5	%	—		—	%
West South Central	24.7			5.0	%	30.2		22.2	%
West North Central	13.9			2.8	%	5.8		4.3	%
East South Central	11.8			2.4	%	—		—	%
New England	8.9			1.9	%	—		—	%
Total commercial mortgage loans, gross of valuation allowance	490.0			100.0	%	136.2		100.0	%
Valuation allowance	(0.8		)			—
Total commercial mortgage loans	$	489.2				$	136.2

The following table presents the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios at September 30, 2015 and 2014:



	Debt-Service Coverage Ratios						Total Amount		% of Total		Estimated Fair Value		% of Total
	>1.25		1.00 - 1.25		N/A (a)		Total Amount		% of Total		Estimated Fair Value		% of Total
September 30, 2015
LTV Ratios:
Less than 50%	$	114.3	$	—	$	11.0	$	125.3	25.6	%	$	125.3	25.6	%
50% to 60%	161.0		19.3		—		180.3		36.8	%	179.4		36.6	%
60% to 75%	184.4		—		—		184.4		37.6	%	184.9		37.8	%
Total mortgage loans on real estate	$	459.7	$	19.3	$	11.0	$	490.0	100.0	%	$	489.6	100.0	%
September 30, 2014
LTV Ratios:
Less than 50%	$	44.6	$	—	$	0.8	$	45.4	33.3	%	$	45.4	33.3	%
50% to 60%	19.9		—		—		19.9		14.6	%	19.9		14.6	%
60% to 75%	70.9		—		—		70.9		52.1	%	70.9		52.1	%
Total mortgage loans on real estate	$	135.4	$	—	$	0.8	$	136.2	100.0	%	$	136.2	100.0	%

“Receivables, net” in the accompanying Consolidated Balance Sheets consist of the following:



	September 30,
	2015		2014
Trade accounts receivable	$	542.8	$	508.6
Less: Allowance for doubtful trade accounts receivable	44.0		48.6
Total trade accounts receivable, net	498.8		460.0
Contingent purchase price reduction receivable (Note 22)	—		41.5
Other receivables	134.1		83.6
Total receivables, net	$	632.9	$	585.1

Mortgage Loans on Real Estate, by Loan Disclosure [Text Block]

Commercial Mortgage Loans on Real Estate

Included on the Consolidated Balance Sheets were commercial mortgage loans ("CMLs") of $489.2 and $136.2, or approximately 2.6% and 0.7% of the Company's total investments as of September 30, 2015 and 2014, respectively. All of the CMLs are investments of FGL Insurance. The Company primarily makes mortgage loans on income producing properties including hotels, industrial properties, retail buildings, multifamily properties and office buildings. FGL Insurance diversifies its CML portfolio by geographic region and property type to reduce concentration risk. Subsequent to origination, FGL Insurance continuously evaluates CMLs based on relevant current information to ensure properties are performing at a consistent and acceptable level to secure the related debt.

The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables:



	September 30, 2015					September 30, 2014
	Gross Carrying Value			% of Total		Gross Carrying Value		% of Total
Property Type:
Retail	$	162.7		33.2	%	$	5.8	4.3	%
Office	137.5			28.1	%	44.6		32.7	%
Industrial - Warehouse	75.5			15.4	%	48.0		35.2	%
Multifamily	64.3			13.1	%	37.8		27.8	%
Industrial - General	36.9			7.5	%	—		—	%
Hotel	12.4			2.5	%	—		—	%
Funeral Home	0.7			0.2	%	—		—	%
Total commercial mortgage loans, gross of valuation allowance	490.0			100.0	%	136.2		100.0	%
Valuation allowance	(0.8		)			—
Total commercial mortgage loans	$	489.2				$	136.2

U.S. Region:
East North Central	$	120.5		24.6	%	$	27.8	20.4	%
Pacific	113.1			23.1	%	61.5		45.1	%
Middle Atlantic	87.2			17.8	%	10.9		8.0	%
South Atlantic	68.3			13.9	%	—		—	%
Mountain	41.6			8.5	%	—		—	%
West South Central	24.7			5.0	%	30.2		22.2	%
West North Central	13.9			2.8	%	5.8		4.3	%
East South Central	11.8			2.4	%	—		—	%
New England	8.9			1.9	%	—		—	%
Total commercial mortgage loans, gross of valuation allowance	490.0			100.0	%	136.2		100.0	%
Valuation allowance	(0.8		)			—
Total commercial mortgage loans	$	489.2				$	136.2

At September 30, 2015 and 2014, FGL Insurance had a CML portfolio with 100% of all CMLs having a LTV ratio of less than 75%. As of September 30, 2015, all CMLs were current and had not experienced credit or other events which would require the recording of an OTTI loss.

LTV and DSC ratios are measures commonly used to assess the risk and quality of mortgage loans. The LTV ratio, calculated at time of origination, is expressed as a percentage of the amount of the loan relative to the value of the underlying property. A LTV ratio in excess of 100% indicates the unpaid loan amount exceeds the underlying collateral. The DSC ratio, based upon the most recently received financial statements, is expressed as a percentage of the amount of a property’s net income to its debt service payments. A DSC ratio of less than 1.0 indicates that a property’s operations do not generate sufficient income to cover debt payments.

The following table presents the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios at September 30, 2015 and 2014:



	Debt-Service Coverage Ratios						Total Amount		% of Total		Estimated Fair Value		% of Total
	>1.25		1.00 - 1.25		N/A (a)		Total Amount		% of Total		Estimated Fair Value		% of Total
September 30, 2015
LTV Ratios:
Less than 50%	$	114.3	$	—	$	11.0	$	125.3	25.6	%	$	125.3	25.6	%
50% to 60%	161.0		19.3		—		180.3		36.8	%	179.4		36.6	%
60% to 75%	184.4		—		—		184.4		37.6	%	184.9		37.8	%
Total mortgage loans on real estate	$	459.7	$	19.3	$	11.0	$	490.0	100.0	%	$	489.6	100.0	%
September 30, 2014
LTV Ratios:
Less than 50%	$	44.6	$	—	$	0.8	$	45.4	33.3	%	$	45.4	33.3	%
50% to 60%	19.9		—		—		19.9		14.6	%	19.9		14.6	%
60% to 75%	70.9		—		—		70.9		52.1	%	70.9		52.1	%
Total mortgage loans on real estate	$	135.4	$	—	$	0.8	$	136.2	100.0	%	$	136.2	100.0	%

(a) N/A - Current DSC ratio not available.

FGL Insurance establishes a general mortgage loan allowance based upon the underlying risk and quality of the mortgage loan portfolio using DSC ratio and LTV ratio. A higher LTV ratio will result in a higher allowance. A higher DSC ratio will result in a lower allowance. FGL Insurance believes that the DSC ratio is an indicator of default risk on loans. FGL Insurance believes that the LTV ratio is an indicator of the principal recovery risk for loans that do default.



	September 30, 2015			September 30, 2014
Gross balance commercial mortgage loans	$	490.0		$	136.2
Allowance for loan loss	(0.8		)	—
Net balance commercial mortgage loans	$	489.2		$	136.2

FGL Insurance recognizes a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At September 30, 2015, FGL Insurance had no CMLs that were delinquent in principal or interest payments. The following provides the current and past due composition of FGL Insurance's CMLs on real estate:



	September 30, 2015		September 30, 2014
Current to 30 days	$	490.0	$	136.2
Total carrying value	$	490.0	$	136.2

As of September 30, 2015, FGL Insurance's CML portfolio had no impairments, modifications or troubled debt restructuring.