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Investments (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value of Investments
The amortized cost, gross unrealized gains, gross unrealized losses, allowance for credit losses, and fair value of fixed maturity investments were as follows:
March 31, 2020
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses
Allowance for Credit Losses(1)
Fair
Value
Fixed maturities
U.S. Governments$320.2  $18.5  $—  $—  $338.7  
Foreign Governments245.9  4.6  10.4  0.4  239.7  
Obligations of states and political subdivisions143.8  5.4  0.7  —  148.5  
Corporate bonds1,705.4  17.8  98.3  31.1  1,593.8  
Commercial mortgage-backed securities242.9  2.4  3.5  —  241.8  
Residential mortgage-backed securities534.0  18.8  6.4  —  546.4  
Asset-backed securities166.9  1.1  6.2  0.1  161.7  
Collateralized loan obligations275.3  0.4  22.8  —  252.9  
Total fixed maturities$3,634.4  $69.0  $148.3  $31.6  $3,523.5  
(1) Effective January 1, 2020 we adopted ASC-326 and as a result any credit impairment losses on our available-for-sale fixed maturities are recorded as an allowance, subject to reversal. Prior periods have not been restated to conform with the current year presentation. See Note 1.
December 31, 2019
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Fixed maturities
U.S. Governments$353.5  $2.3  $1.2  $354.6  
Foreign Governments244.8  4.6  0.7  248.7  
Obligations of states and political subdivisions145.8  6.9  0.1  152.6  
Corporate bonds1,777.4  37.7  34.7  1,780.4  
Commercial mortgage-backed securities213.5  4.6  1.1  217.0  
Residential mortgage-backed securities479.1  10.4  0.6  488.9  
Asset-backed securities164.2  1.5  0.2  165.5  
Collateralized loan obligations226.7  0.5  1.4  225.8  
Total fixed maturities$3,605.0  $68.5  $40.0  $3,633.5  
Schedule of Amortized Cost and Fair Values of Fixed Maturity Investments, by Contractual Maturity
The amortized cost and fair values of fixed maturity investments as of March 31, 2020, by contractual maturity, were as follows:
(in millions)Amortized
Cost		Fair
Value
Due in one year or less$306.6  $301.6  
Due after one year through five years1,489.7  1,419.3  
Due after five years through ten years554.2  536.8  
Thereafter64.8  63.0  
Structured securities1,219.1  1,202.8  
Total$3,634.4  $3,523.5  
Schedule of Carrying Value And Unfunded Investment Commitments Of Other Invested Assets Portfolio
Details regarding the carrying value and unfunded investment commitments of other investments as of March 31, 2020 and December 31, 2019 were as follows:
March 31, 2020
(in millions)Carrying
Value		Unfunded
Commitments
Investment Type
Hedge funds$105.7  $—  
Private equity220.1  104.6  
Overseas deposits92.3  —  
Other4.3  —  
Total other investments$422.4  $104.6  

December 31, 2019
(in millions)Carrying
Value		Unfunded
Commitments
Investment Type
Hedge funds$109.5  $—  
Private equity268.1  110.0  
Overseas deposits114.6  —  
Other4.3  —  
Total other investments$496.5  $110.0  
Schedule of Aging of Unrealized Losses on Company's Investments in Fixed Maturities, Equity Securities and Other Investments
An aging of unrealized losses on our investments in fixed maturities is presented below:
March 31, 2020Less Than One YearOne Year or GreaterTotal
(in millions)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Fixed maturities
U.S. Governments (1)
$1.4  $—  $—  $—  $1.4  $—  
Foreign Governments143.6  10.4  —  —  143.6  10.4  
Obligations of states and political subdivisions24.2  0.7  —  —  24.2  0.7  
Corporate bonds850.3  75.7  29.7  22.6  880.0  98.3  
Commercial mortgage-backed securities132.6  3.5  —  —  132.6  3.5  
Residential mortgage-backed securities101.1  5.5  8.9  0.9  110.0  6.4  
Asset-backed securities103.3  5.8  4.7  0.4  108.0  6.2  
Collateralized loan obligations194.9  19.0  54.9  3.8  249.8  22.8  
Total fixed maturities$1,551.4  $120.6  $98.2  $27.7  $1,649.6  $148.3  
(1) Unrealized losses are less than $0.1 million.
December 31, 2019Less Than One YearOne Year or GreaterTotal
(in millions)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Fixed maturities
U.S. Governments$114.6  $1.1  $17.0  $0.1  $131.6  $1.2  
Foreign Governments (1)
117.6  0.7  5.1  —  122.7  0.7  
Obligations of states and political subdivisions (1)
0.7  —  2.1  0.1  2.8  0.1  
Corporate bonds249.4  18.9  63.6  15.8  313.0  34.7  
Commercial mortgage-backed securities (1)
74.8  1.1  4.9  —  79.7  1.1  
Residential mortgage-backed securities66.9  0.3  25.2  0.3  92.1  0.6  
Asset-backed securities22.5  0.1  18.9  0.1  41.4  0.2  
Collateralized loan obligations54.7  0.8  116.7  0.6  171.4  1.4  
Total fixed maturities$701.2  $23.0  $253.5  $17.0  $954.7  $40.0  
(1) Unrealized losses are less than $0.1 million.
Debt Securities, Available-for-sale, Allowance for Credit Loss
The following table presents a reconciliation of the beginning and ending balances for the allowance for credit losses on available-for-sale fixed maturity securities:
For the Three Months Ended
March 31,
(in millions)2020
Beginning balance, January 1, 2020$—  
  Additions related to initial adoption of accounting standard6.9  
  Provision for expected credit losses24.7  
  Reductions due to sales/defaults of credit-impaired securities—  
Ending balance, March 31, 2020$31.6  
Schedule of Company's Gross Realized Investment Gains (Losses)
The following table presents our gross realized investment gains (losses):
For the Three Months Ended
March 31,
(in millions)20202019
Realized gains on fixed maturities and other
Fixed maturities$20.8  $3.6  
Other investments48.2  8.8  
69.0  12.4  
Realized losses on fixed maturities and other
Fixed maturities(7.7) (2.4) 
Other investments(31.8) (8.1) 
Credit losses on fixed maturities(24.7) (4.3) 
(64.2) (14.8) 
Equity securities
Net realized (losses) gains on equity securities(1.6) 0.7  
Change in unrealized (losses) gains on equity securities held at the end of the period(39.3) 54.2  
Net realized (losses) gains on equity securities(40.9) 54.9  
Net realized investment (losses) gains before income taxes(36.1) 52.5  
Income tax benefit (provision)8.0  (9.7) 
Net realized investment (losses) gains net of income taxes$(28.1) $42.8  
Schedule Of Changes In Unrealized Appreciation (Depreciation)
Changes in unrealized (losses) gains related to investments are summarized as follows:
For the Three Months Ended
March 31,
(in millions)20202019
Change in unrealized (losses) gains
Fixed maturities$(111.8) $59.9  
Other investments(14.2) —  
Other and short-term investments(0.2) —  
Net unrealized investment (losses) gains before income taxes(126.2) 59.9  
Income tax benefit (provision)19.2  (9.6) 
Net unrealized investment (losses) gains, net of income taxes$(107.0) $50.3  
Schedule of Fair Value of Foreign Currency Exchange Forward Contracts
The fair value of our foreign currency exchange forward contracts as of March 31, 2020 and December 31, 2019 was as follows:

(in millions)March 31, 2020December 31, 2019
Operational currency exposure$7.0  $(0.8) 
Asset manager investment exposure0.2  (0.3) 
Total return strategy(2.3) 2.2  
Total$4.9  $1.1  
Schedule of Realized Gains and Losses of Investment on Foreign Currency Exchange Forward Contracts
The following table represents our gross investment realized gains and losses on our foreign currency exchange forward contracts:
For the Three Months Ended
March 31,
(in millions)20202019
Realized gains
Operational currency exposure$5.4  $0.3  
Asset manager investment exposure0.8  1.1  
Total return strategy25.0  6.3  
Gross realized investment gains31.2  7.7  
Realized losses
Operational currency exposure(1.7) (2.1) 
Asset manager investment exposure(0.4) (0.2) 
Total return strategy(28.0) (4.7) 
Gross realized investment losses(30.1) (7.0) 
Net realized investment gains on foreign currency exchange forward contracts$1.1  $0.7  
Schedule of Restricted Assets The following table presents our components of restricted assets:
(in millions)March 31, 2020December 31, 2019
Securities on deposit for regulatory and other purposes$228.3  $192.5  
Securities pledged as collateral for letters of credit and other170.8  169.9  
Securities and cash on deposit supporting Lloyd’s business400.7  412.8  
Total restricted investments$799.8  $775.2  
Financial Assets Measured at Fair Value on Recurring Basis
Based on an analysis of the inputs, our financial assets measured at fair value on a recurring basis have been categorized as follows:
Fair Value Measurements at Reporting Date Using
(in millions)March 31,
2020
Level 1 (a)
Level 2 (b)
Level 3 (c)
Fixed maturities
U.S. Governments$338.7  $336.6  $2.1  $—  
Foreign Governments239.7  —  239.7  —  
Obligations of states and political subdivisions148.5  —  148.5  —  
Corporate bonds1,593.8  —  1,586.4  7.4  
Commercial mortgage-backed securities241.8  —  241.8  —  
Residential mortgage-backed securities546.4  —  546.4  —  
Asset-backed securities161.7  —  161.7  —  
Collateralized loan obligations252.9  —  252.9  —  
Total fixed maturities3,523.5  336.6  3,179.5  7.4  
Equity securities132.9  127.2  —  5.7  
Other investments92.3  —  92.3  —  
Short-term investments732.6  708.3  24.3  —  
$4,481.3  $1,172.1  $3,296.1  $13.1  
(a)Quoted prices in active markets for identical assets
(b)Significant other observable inputs
(c)Significant unobservable inputs
Fair Value Measurements at Reporting Date Using
(in millions)December 31,
2019
Level 1 (a)
Level 2 (b)
Level 3 (c)
Fixed maturities
U.S. Governments$354.6  $349.1  $5.5  $—  
Foreign Governments248.7  —  248.7  —  
Obligations of states and political subdivisions152.6  —  152.6  —  
Corporate bonds1,780.4  —  1,773.0  7.4  
Commercial mortgage-backed securities217.0  —  217.0  —  
Residential mortgage-backed securities488.9  —  488.9  —  
Asset-backed securities165.5  —  165.5  —  
Collateralized loan obligations225.8  —  225.8  —  
Total fixed maturities3,633.5  349.1  3,277.0  7.4  
Equity securities124.4  117.8  —  6.6  
Other investments400.2  —  400.2  —  
Short-term investments845.0  823.5  21.5  —  
$5,003.1  $1,290.4  $3,698.7  $14.0  
(a)Quoted prices in active markets for identical assets
(b)Significant other observable inputs
(c)Significant unobservable inputs
Schedule of Reconciliation of Beginning and Ending Balances for Investments Categorized as Level 3
A reconciliation of the beginning and ending balances for the investments categorized as Level 3 are as follows:
Fair Value Measurements Using Observable Inputs (Level 3)
(in millions)Credit FinancialEquity
Securities		Total
Beginning balance, January 1, 2020$7.4  $6.6  $14.0  
Transfers into Level 3—  —  —  
Transfers out of Level 3—  —  —  
Total gains or losses (realized/unrealized):
Included in net income —  —  —  
Included in other comprehensive income—  (0.9) (0.9) 
Purchases, issuances, sales, and settlements:
Purchases—  —  —  
Issuances—  —  —  
Sales—  —  —  
Settlements—  —  —  
 Ending balance, March 31, 2020$7.4  $5.7  $13.1  
Amount of total gains or losses for the year included in net income attributable to the change in unrealized gains or losses relating to assets still held at March 31, 2020
$—  $—  $—  
(in millions)Credit FinancialEquity
Securities		Total
Beginning balance, January 1, 2019$2.2  $8.2  $10.4  
Transfers into Level 33.5  —  3.5  
Transfers out of Level 3—  —  —  
Total gains or losses (realized/unrealized):
Included in net income(0.4) (1.6) (2.0) 
Included in other comprehensive loss0.6  —  0.6  
Purchases, issuances, sales, and settlements:
Purchases1.9  —  1.9  
Issuances—  —  —  
Sales(0.4) —  (0.4) 
Settlements—  —  —  
 Ending balance, December 31, 2019$7.4  $6.6  $14.0  
Amount of total gains or losses for the year included in net income attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2019
$—  $—  $—