Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2018

Variable Interest Entities [Abstract]

Balances of assets and liabilities held by consolidated investment entities at fair value

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 June 30, 2018 and December 31, 2017, respectively.

	June 30, 2018
	Total		Level 1			Level 2		Level 3
Financial Assets
Investments:
Cash and cash equivalents	$	35.0	$	35.0	(1)	$	—	$	—
Corporate debt securities	1,098.2		—			1,098.2		—
Real estate fund	102.5		—			—		102.5
Total financial assets	$	1,235.7	$	35.0		$	1,098.2	$	102.5
Financial Liabilities
Collateralized loan obligation notes	$	941.3	$	—		$	941.3	$	—
Total financial liabilities	$	941.3	$	—		$	941.3	$	—

	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 June 30, 2018 and December 31, 2017. 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. 

	June 30, 2018
	Total		Level 1			Level 2			Level 3
Financial Assets
Fixed maturity securities:
U.S. government and government agencies and   authorities	$	184.6	$	—		$	184.6		$	—
State, municipalities and political subdivisions	478.4		—			478.4			—
Foreign governments	919.6		0.6			919.0			—
Asset-backed	495.2		—			450.1			45.1
Commercial mortgage-backed	253.9		—			194.0			59.9
Residential mortgage-backed	1,236.8		—			1,236.8			—
U.S. corporate	5,520.2		—			5,484.8			35.4
Foreign corporate	2,208.8		—			2,158.2			50.6
Equity securities:
Mutual funds	46.0		46.0			—			—
Common stocks	16.6		15.9			0.7			—
Non-redeemable preferred stocks	323.2		—			321.0			2.2
Short-term investments	343.6		91.0		(2)	252.6			—
Other investments	243.5		74.0		(1)	168.0		(3)	1.5		(4)
Cash equivalents	637.5		469.0		(2)	168.5		(3)	—
Other assets	3.1		—			1.5			1.6		(5)
Assets held in separate accounts	1,824.0		1,674.0		(1)	150.0		(3)	—
Total financial assets	$	14,735.0	$	2,370.5		$	12,168.2		$	196.3
Financial Liabilities
Other liabilities	$	119.4	$	74.0	(1)	$	—	(5)	$	45.4	(6)
Liabilities related to separate accounts	1,824.0		1,674.0		(1)	150.0		(3)	—
Total financial liabilities	$	1,943.4	$	1,748.0		$	150.0		$	45.4

	December 31, 2017
	Total		Level 1			Level 2			Level 3
Financial Assets
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

 

(1) Primarily includes mutual funds and related obligations.

(2) Primarily includes money market funds.

(3) Primarily includes fixed maturity securities and related obligations.

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

(5) Primarily includes other derivative assets and liabilities.

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

(7) Primarily includes fixed maturity securities and certificates of deposit.

Schedule of carrying values of level 3 assets

The following table summarizes the change in balance sheet carrying value associated with Level 3 assets held by consolidated investment entities measured at fair value during the three and six months ended June 30, 2018:

	Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Balance, beginning of period	$	86.8		$	84.7
Purchases	23.0			23.0
Sales	(6.8		)	(6.8		)
Total (loss) income included in earnings	(0.5		)	1.6
Balance, end of period	$	102.5		$	102.5