Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value For Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following table presents the balances of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis. Amounts presented are as of December 31, 2017. There were no balances in prior years.

	December 31, 2017
	Total		Level 1			Level 2		Level 3
Financial Assets
Investments:
Cash and cash equivalents	$	54.5	$	54.5	(1)	$	—	$	—
Corporate debt securities	570.3		—			570.3		—
Real estate fund	84.7		—			—		84.7
Total financial assets	$	709.5	$	54.5		$	570.3	$	84.7
Financial Liabilities
Collateralized loan obligation notes	$	450.7	$	—		$	450.7	$	—
Total financial liabilities	450.7		—			450.7		—

(1) Amounts consist of money market funds.

The following tables present the Company’s fair value hierarchy for assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 and 2016. The amounts presented below for Other investments, Cash equivalents, Other assets, Assets and Liabilities held in separate accounts and Other liabilities differ from the amounts presented in the consolidated balance sheets because only certain investments or certain assets and liabilities within these line items are measured at estimated fair value. Other investments are comprised of investments in the Assurant Investment Plan, American Security Insurance Company Investment Plan, Assurant Deferred Compensation Plan, modified coinsurance arrangements and other derivatives. Other liabilities are comprised of investments in the Assurant Investment Plan, contingent considerations related to business combinations and other derivatives. The fair value amount and the majority of the associated levels presented for Other investments and Assets and Liabilities held in separate accounts are received directly from third parties.

	December 31, 2017
Financial Assets	Total		Level 1			Level 2			Level 3
Fixed maturity securities:
U.S. government and government agencies and   authorities	$	182.6	$	—		$	182.6		$	—
State, municipalities and political subdivisions	326.2		—			326.2			—
Foreign governments	596.8		1.0			595.8			—
Asset-backed	190.2		—			150.8			39.4
Commercial mortgage-backed	38.1		—			9.5			28.6
Residential mortgage-backed	1,109.4		—			1,109.4			—
U.S. corporate	5,371.3		—			5,350.2			21.1
Foreign corporate	1,848.0		—			1,802.7			45.3
Equity securities:
Common stocks	17.7		17.0			0.7			—
Non-redeemable preferred stocks	350.3		—			348.1			2.2
Short-term investments	284.1		141.6		(2)	142.5			—
Other investments	253.9		71.2		(1)	172.7		(3)	10.0		(4)
Cash equivalents	544.9		519.1		(2)	25.8		(3)	—
Other assets	2.1		—			—			2.1		(5)
Assets held in separate accounts	1,800.6		1,635.2		(1)	165.4		(3)	—
Total financial assets	$	12,916.2	$	2,385.1		$	10,382.4		$	148.7
Financial Liabilities
Other liabilities	$	128.7	$	71.2	(1)	$	1.0	(5)	$	56.5	(6)
Liabilities related to separate accounts	1,800.6		1,635.2		(1)	165.4		(3)	—
Total financial liabilities	$	1,929.3	$	1,706.4		$	166.4		$	56.5

	December 31, 2016
Financial Assets	Total		Level 1			Level 2			Level 3
Fixed maturity securities:
U.S. government and government agencies and   authorities	$	174.9	$	—		$	174.9		$	—
State, municipalities and political subdivisions	476.1		—			476.1			—
Foreign governments	568.5		1.0			567.5			—
Asset-backed	3.7		—			3.7			—
Commercial mortgage-backed	38.4		—			10.6			27.8
Residential mortgage-backed	1,101.3		—			1,101.3			—
U.S. corporate	5,461.2		—			5,416.7			44.5
Foreign corporate	1,748.0		—			1,714.7			33.3
Equity securities:
Common stocks	20.8		20.1			0.7			—
Non-redeemable preferred stocks	400.6		—			398.4			2.2
Short-term investments	227.7		52.7		(2)	175.0			—
Other investments	265.1		64.9		(1)	196.7		(3)	3.5		(4)
Cash equivalents	646.6		644.6		(2)	2.0		(3)	—
Other assets	0.6		—			0.3		(5)	0.3		(5)
Assets held in separate accounts	1,650.2		1,472.9		(1)	177.3		(3)	—
Total financial assets	$	12,783.7	$	2,256.2		$	10,415.9		$	111.6
Financial Liabilities
Other liabilities	$	119.9	$	64.9	(1)	$	0.9	(5)	$	54.1	(6)
Liabilities related to separate accounts	1,650.2		1,472.9		(1)	177.3		(3)	—
Total financial liabilities	$	1,770.1	$	1,537.8		$	178.2		$	54.1

(1) Primarily includes mutual funds.

(2) Primarily includes money market funds.

(3) Primarily includes fixed maturity securities.

(4) Primarily includes fixed maturity securities and other derivatives.

(5) Primarily includes other derivatives.

(6) Primarily includes contingent consideration liabilities related to business combinations and other derivatives

Change In Balance Sheet Carrying Value Associated With Level 3 Financial Assets Carried At Fair Value

The following tables summarize the change in balance sheet carrying value associated with Level 3 financial assets and liabilities carried at fair value during the years ended December 31, 2017 and 2016:

	Year Ended December 31, 2017
	Balance, beginning of period			Total gains (losses) (realized/ unrealized) included in earnings (1)			Net unrealized (losses) gains included in other comprehensive income (2)			Purchases			Sales			Transfers in (3)		Transfers out (3)			Balance, end of period
Financial Assets
Fixed Maturity Securities
Asset-backed securities	$	—		$	3.3		$	(2.2	)	$	165.6		$	(20.0	)	$	2.6	$	(109.9	)	$	39.4
Commercial mortgage-backed	27.8			(4.9		)	0.3			5.4			—			—		—			28.6
U.S. corporate	44.5			0.6			0.8			15.4			(13.4		)	9.2		(36.0		)	21.1
Foreign corporate	33.3			(0.1		)	(0.3		)	25.5			(2.3		)	16.5		(27.3		)	45.3
Equity Securities
Non-redeemable preferred stocks	2.2			—			—			—			—			—		—			2.2
Other investments	3.5			(6.0		)	(0.1		)	17.7			(0.1		)	—		(5.0		)	10.0
Other assets	0.3			(0.2		)	—			2.0			—			—		—			2.1
Financial Liabilities
Other liabilities	(54.1		)	0.7			—			(3.4		)	0.3			—		—			(56.5		)
Total level 3 assets and liabilities	$	57.5		$	(6.6	)	$	(1.5	)	$	228.2		$	(35.5	)	$	28.3	$	(178.2	)	$	92.2

	Year Ended December 31, 2016
	Balance, beginning of period			Total (losses) gains (realized/ unrealized) included in earnings (1)			Net unrealized losses included in other comprehensive income (2)			Purchases			Sales			Transfers in (3)		Transfers out (3)			Balance, end of period
Financial Assets
Fixed Maturity Securities
States, municipalities and political subdivisions	$	—		$	—		$	—		$	3.6		$	(3.6	)	$	—	$	—		$	—
Commercial mortgage-backed	0.2			(2.0		)	(1.0		)	30.8			(0.2		)	—		—			27.8
U.S. corporate	34.5			0.4			(0.1		)	28.9			(5.1		)	16.3		(30.4		)	44.5
Foreign corporate	28.6			0.1			(0.4		)	1.7			(1.5		)	4.8		—			33.3
Equity Securities
Non-redeemable preferred stocks	2.3			—			(0.1		)	—			—			—		—			2.2
Other investments	2.2			(1.0		)	—			2.4			(0.1		)	—		—			3.5
Other assets	0.4			(0.1		)	—			—			—			—		—			0.3
Financial Liabilities
Other liabilities	(38.2		)	8.6			—			(24.5		)	—			—		—			(54.1		)
Total level 3 assets and liabilities	$	30.0		$	6.0		$	(1.6	)	$	42.9		$	(10.5	)	$	21.1	$	(30.4	)	$	57.5

 

(1) Included as part of net realized gains on investments in the consolidated statement of operations.

(2) Included as part of change in unrealized gains on securities in the consolidated statement of comprehensive income.

(3)

Transfers are primarily attributable to changes in the availability of observable market information and the re-evaluation of the observability of pricing inputs.

Carrying Value And Fair Value Of The Financial Instruments That Are Not Recognized Or Are Not Carried At Fair Value

The following tables disclose the carrying value, fair value amount and hierarchy level of the financial instruments that are not recognized or are not carried at fair value in the consolidated balance sheets:

	December 31, 2017
			Fair Value
	Carrying Value		Total		Level 1		Level 2		Level 3
Financial Assets
Commercial mortgage loans on real estate	$	670.2	$	679.2	$	—	$	—	$	679.2
Other investments	84.4		84.4		36.3		—		48.1
Total financial assets	$	754.6	$	763.6	$	36.3	$	—	$	727.3
Financial Liabilities
Policy reserves under investment products    (Individual and group annuities, subject to discretionary    withdrawal) (1)	$	634.3	$	642.5	$	—	$	—	$	642.5
Funds withheld under reinsurance	179.8		179.8		179.8		—		—
Debt	1,068.2		1,174.4		—		1,174.4		—
Total financial liabilities	$	1,882.3	$	1,996.7	$	179.8	$	1,174.4	$	642.5

	December 31, 2016
			Fair Value
	Carrying Value		Total		Level 1		Level 2		Level 3
Financial Assets
Commercial mortgage loans on real estate	$	624.0	$	634.9	—		—		$	634.9
Other investments	74.8		74.8		38.5		—		36.3
Total financial assets	$	698.8	$	709.7	$	38.5	—		$	671.2
Financial Liabilities
Policy reserves under investment products    (Individual and group annuities, subject to discretionary withdrawal) (1)	$	651.0	$	680.4	—		—		$	680.4
Funds withheld under reinsurance	111.7		111.7		111.7		—		—
Debt	1,067.0		1,159.7		—		1,159.7		—
Total financial liabilities	$	1,829.7	$	1,951.8	$	111.7	$	1,159.7	$	680.4

(1) Only the fair value of the Company’s policy reserves for investment-type contracts (those without significant mortality or morbidity risk) are reflected in the table above.