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Investments (Tables)
 12 Months Ended
Dec. 31, 2013
Available-for-sale Securities Including Securities Pledged [Line Items]  
Marketable Securities
Available-for-sale and FVO fixed maturities and equity securities were as follows as of December 31, 2013:
 
Amortized
Cost
 
Gross
Unrealized
Capital
Gains
 
Gross
Unrealized
Capital
Losses
 
Embedded Derivatives(2)
 
Fair
Value
 
OTTI(3)
Fixed maturities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasuries
$
636.5

 
$
36.5

 
$
2.9

 
$
—

 
$
670.1

 
$
—

U.S. Government agencies and authorities
237.1

 
5.0

 
—

 
—

 
242.1

 
—

State, municipalities and political subdivisions
77.2

 
5.9

 
0.1

 
—

 
83.0

 
—

U.S. corporate securities
10,326.0

 
581.0

 
238.8

 
—

 
10,668.2

 
1.9

 
 
 
 
 
 
 
 
 
 
 
 
Foreign securities:(1)
 
 
 
 
 
 
 
 
 
 
 
Government
422.9

 
25.2

 
16.5

 
—

 
431.6

 
—

Other
5,149.6

 
272.9

 
83.5

 
—

 
5,339.0

 
—

Total foreign securities
5,572.5

 
298.1

 
100.0

 
—

 
5,770.6

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Agency
1,638.2

 
121.9

 
17.9

 
16.9

 
1,759.1

 
0.2

Non-Agency
278.1

 
55.2

 
4.8

 
12.1

 
340.6

 
15.1

Total Residential mortgage-backed securities
1,916.3

 
177.1

 
22.7

 
29.0

 
2,099.7

 
15.3

 
 
 
 
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
624.5

 
68.1

 
0.9

 
—

 
691.7

 
4.4

Other asset-backed securities
465.8

 
18.0

 
3.4

 
—

 
480.4

 
3.2

Total fixed maturities, including securities pledged
19,855.9

 
1,189.7

 
368.8

 
29.0

 
20,705.8

 
24.8

Less: Securities pledged
137.9

 
5.9

 
3.7

 
—

 
140.1

 
—

Total fixed maturities
19,718.0

 
1,183.8

 
365.1

 
29.0

 
20,565.7

 
24.8

Equity securities
119.4

 
15.8

 
0.3

 
—

 
134.9

 
—

Total fixed maturities and equity securities investments
$
19,837.4

 
$
1,199.6

 
$
365.4

 
$
29.0

 
$
20,700.6

 
$
24.8

(1) Primarily U.S. dollar denominated.
(2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Other net realized capital gains (losses) in the Consolidated Statements of Operations.
(3) Represents OTTI reported as a component of Other comprehensive income.
Available-for-sale and FVO fixed maturities and equity securities were as follows as of December 31, 2012:
 
Amortized
Cost
 
Gross
Unrealized
Capital
Gains
 
Gross
Unrealized
Capital
Losses
 
Embedded Derivatives(2)
 
Fair
Value
 
OTTI(3)
Fixed maturities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasuries
$
1,011.5

 
$
135.6

 
$
0.5

 
$
—

 
$
1,146.6

 
$
—

U.S. Government agencies and authorities
379.4

 
17.6

 
—

 
—

 
397.0

 
—

State, municipalities and political subdivisions
77.2

 
15.9

 
—

 
—

 
93.1

 
—

U.S. corporate securities
9,438.0

 
1,147.4

 
11.1

 
—

 
10,574.3

 
2.0

 
 
 
 
 
 
 
 
 
 
 
 
Foreign securities:(1)
 
 
 
 
 
 
 
 
 
 
 
Government
439.7

 
57.4

 
1.1

 
—

 
496.0

 
—

Other
4,570.0

 
501.3

 
15.3

 
—

 
5,056.0

 
—

Total foreign securities
5,009.7

 
558.7

 
16.4

 
—

 
5,552.0

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Agency
1,679.5

 
181.5

 
3.4

 
33.7

 
1,891.3

 
0.6

Non-Agency
390.9

 
70.0

 
14.7

 
20.0

 
466.2

 
17.4

Total Residential mortgage-backed securities
2,070.4

 
251.5

 
18.1

 
53.7

 
2,357.5

 
18.0

 
 
 
 
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
748.7

 
90.6

 
0.2

 
—

 
839.1

 
4.4

Other asset-backed securities
475.7

 
26.6

 
6.7

 
—

 
495.6

 
3.1

Total fixed maturities, including securities pledged
19,210.6

 
2,243.9

 
53.0

 
53.7

 
21,455.2

 
27.5

Less: Securities pledged
207.2

 
13.0

 
0.5

 
—

 
219.7

 
—

Total fixed maturities
19,003.4

 
2,230.9

 
52.5

 
53.7

 
21,235.5

 
27.5

Equity securities
129.3

 
13.6

 
0.1

 
—

 
142.8

 
—

Total fixed maturities and equity securities investments
$
19,132.7

 
$
2,244.5

 
$
52.6

 
$
53.7

 
$
21,378.3

 
$
27.5

(1) Primarily U.S. dollar denominated.
(2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Other net realized capital gains (losses) in the Consolidated Statements of Operations.
(3) Represents OTTI reported as a component of Other comprehensive income.
Investments Classifed by Contractual Maturity Date
The amortized cost and fair value of fixed maturities, including securities pledged, as of December 31, 2013, are shown below by contractual maturity. Actual maturities may differ from contractual maturities as securities may be restructured, called, or prepaid. MBS and Other ABS are shown separately because they are not due at a single maturity date.
 
Amortized
Cost
 
Fair
Value
Due to mature:
 
 
 
One year or less
$
612.5

 
$
629.7

After one year through five years
3,846.6

 
4,103.6

After five years through ten years
6,488.8

 
6,646.5

After ten years
5,901.4

 
6,054.2

Mortgage-backed securities
2,540.8

 
2,791.4

Other asset-backed securities
465.8

 
480.4

Fixed maturities, including securities pledged
$
19,855.9

 
$
20,705.8
U.S. and Foreign Corporate Securities by Industry
The following tables set forth the composition of the U.S. and foreign corporate securities within the fixed maturity portfolio by industry category as of the dates indicated:
 
Amortized
Cost
 
Gross Unrealized Capital Gains
 
Gross Unrealized Capital Losses
 
Fair Value
December 31, 2013
 
 
 
 
 
 
 
Communications
$
1,315.9

 
$
81.5

 
$
36.8

 
$
1,360.6

Financial
2,114.7

 
166.9

 
20.2

 
2,261.4

Industrial and other companies
8,878.5

 
423.5

 
213.1

 
9,088.9

Utilities
2,726.5

 
159.5

 
42.3

 
2,843.7

Transportation
440.0

 
22.5

 
9.9

 
452.6

Total
$
15,475.6

 
$
853.9

 
$
322.3

 
$
16,007.2

 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
Communications
$
1,154.1

 
$
161.4

 
$
0.9

 
$
1,314.6

Financial
1,859.3

 
240.1

 
10.9

 
2,088.5

Industrial and other companies
7,883.1

 
850.9

 
6.9

 
8,727.1

Utilities
2,715.4

 
349.8

 
7.3

 
3,057.9

Transportation
396.1

 
46.5

 
0.4

 
442.2

Total
$
14,008.0

 
$
1,648.7

 
$
26.4

 
$
15,630.3
Schedule of Unrealized Loss on Investments
Unrealized capital losses (including noncredit impairments), along with the fair value of fixed maturity securities, including securities pledged, by market sector and duration were as follows as of December 31, 2013:
 
Six Months or Less
Below Amortized Cost
 
More Than Six
Months and Twelve
Months or Less
Below Amortized Cost
 
More Than Twelve
Months Below
Amortized Cost
 
Total
 
Fair
Value
 
Unrealized
Capital Losses
 
Fair
Value
 
Unrealized
Capital Losses
 
Fair
Value
 
Unrealized
Capital Losses
 
Fair
Value
 
Unrealized
Capital Losses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasuries
$
124.4

 
$
2.1

 
$
34.2

 
$
0.8

 
$
—

 
$
—

 
$
158.6

 
$
2.9

U.S. corporate, state and municipalities
1,002.8

 
22.9

 
2,413.2

 
183.8

 
236.9

 
32.2

 
3,652.9

 
238.9

Foreign
448.8

 
5.7

 
1,063.9

 
86.4

 
76.2

 
7.9

 
1,588.9

 
100.0

Residential mortgage-backed
262.3

 
2.9

 
212.9

 
12.0

 
105.8

 
7.8

 
581.0

 
22.7

Commercial mortgage-backed
77.9

 
0.9

 
—

 
—

 
—

 
—

 
77.9

 
0.9

Other asset-backed
38.9

 
0.2

 
30.3

 
0.2

 
26.0

 
3.0

 
95.2

 
3.4

Total
$
1,955.1

 
$
34.7

 
$
3,754.5

 
$
283.2

 
$
444.9

 
$
50.9

 
$
6,154.5

 
$
368.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Unrealized capital losses (including noncredit impairments), along with the fair value of fixed maturity securities, including securities pledged, by market sector and duration were as follows as of December 31, 2012:
 
Six Months or Less
Below Amortized Cost
 
More Than Six
Months and Twelve
Months or Less
Below Amortized Cost
 
More Than Twelve
Months Below
Amortized Cost
 
Total
 
Fair
Value
 
Unrealized
Capital Losses
 
Fair
Value
 
Unrealized
Capital Losses
 
Fair
Value
 
Unrealized
Capital Losses
 
Fair
Value
 
Unrealized
Capital Losses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasuries
$
300.0

 
$
0.5

 
$
—

 
$
—

 
$
—

 
$
—

 
$
300.0

 
$
0.5

U.S. corporate, state and municipalities
479.8

 
6.8

 
22.5

 
0.9

 
49.4

 
3.4

 
551.7

 
11.1

Foreign
166.8

 
4.7

 
7.8

 
0.5

 
87.7

 
11.2

 
262.3

 
16.4

Residential mortgage-backed
68.7

 
1.6

 
7.2

 
0.3

 
132.4

 
16.2

 
208.3

 
18.1

Commercial mortgage-backed
7.5

 
0.1

 
1.6

 
—

 
2.5

 
0.1

 
11.6

 
0.2

Other asset-backed
15.6

 
—

*
—

 
—

 
34.2

 
6.7

 
49.8

 
6.7

Total
$
1,038.4

 
$
13.7

 
$
39.1

 
$
1.7

 
$
306.2

 
$
37.6

 
$
1,383.7

 
$
53.0
Schedule of Mortgage Loans Real Estate and Valuation Allowance
The following table summarizes the Company's investment in mortgage loans as of the dates indicated:
 
December 31,
 
2013
 
2012
Commercial mortgage loans
$
3,397.3

 
$
2,874.0

Collective valuation allowance
(1.2
)
 
(1.3
)
Total net commercial mortgage loans
$
3,396.1

 
$
2,872.7



There were no impairments taken on the mortgage loan portfolio for the years ended December 31, 2013, 2012 and 2011.

The following table summarizes the activity in the allowance for losses for all commercial mortgage loans for the periods indicated:
 
December 31,
 
2013
 
2012
Collective valuation allowance for losses, balance at January 1
$
1.3

 
$
1.3

Addition to (reduction of) allowance for losses
(0.1
)
 
—

Collective valuation allowance for losses, end of period
$
1.2

 
$
1.3
Impaired Financing Receivables
The following table presents information on the average investment during the period in impaired loans and interest income recognized on impaired and troubled debt restructured loans for the periods indicated:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Impaired loans, average investment during the period (amortized cost)(1)
$
24.2

 
$
5.7

 
$
7.7

Interest income recognized on impaired loans, on an accrual basis(1)
1.4

 
0.4

 
0.6

Interest income recognized on impaired loans, on a cash basis(1)
1.4

 
0.4

 
0.6

Interest income recognized on troubled debt restructured loans, on an accrual basis
1.0

 
—

 
—

The carrying values and unpaid principal balances of impaired mortgage loans were as follows as of the dates indicated:
 
December 31,
 
2013
 
2012
Impaired loans with allowances for losses
$
—

 
$
—

Impaired loans without allowances for losses
42.9

 
5.6

Subtotal
42.9

 
5.6

Less: Allowances for losses on impaired loans
—

 
—

Impaired loans, net
$
42.9

 
$
5.6

Unpaid principal balance of impaired loans
$
44.4

 
$
7.1


The following table presents information on restructured loans as of the dates indicated:
 
December 31,
 
2013
 
2012
Troubled debt restructured loans
$
37.5

 
$
—
Loans Receivable, Grouped by Loan to Value and Debt Service Coverage Ratio
Loan-to-value ("LTV") and debt service coverage ("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 property's operations do not generate sufficient income to cover debt payments. These ratios are utilized as part of the review process described above.

The following table presents the LTV ratios as of the dates indicated:
 
December 31,
 
2013(1)
 
2012(1)
Loan-to-Value Ratio:
 
 
 
0% - 50%
$
495.7

 
$
501.3

50% - 60%
894.5

 
768.9

60% - 70%
1,879.5

 
1,491.6

70% - 80%
114.9

 
96.4

80% and above
12.7

 
15.8

Total Commercial mortgage loans
$
3,397.3

 
$
2,874.0

(1) Balances do not include allowance for mortgage loan credit losses.

The following table presents the DSC ratios as of the dates indicated:
 
December 31,
 
2013(1)
 
2012(1)
Debt Service Coverage Ratio:
 
 
 
Greater than 1.5x
$
2,388.5

 
$
2,114.4

1.25x - 1.5x
542.4

 
390.5

1.0x - 1.25x
275.8

 
293.1

Less than 1.0x
190.5

 
76.0

Commercial mortgage loans secured by land or construction loans
0.1

 
—

Total Commercial mortgage loans
$
3,397.3

 
$
2,874.0

(1) Balances do not include allowance for mortgage loan credit losses.
Mortgage Loans by Geographic Location of Collateral
Properties collateralizing mortgage loans are geographically dispersed throughout the United States, as well as diversified by property type, as reflected in the following tables as of the dates indicated:
 
December 31,
 
2013(1)
 
2012(1)
 
Gross
Carrying Value
 
% of
Total
 
Gross
Carrying Value
 
% of
Total
Commercial Mortgage Loans by U.S. Region:
 
 
 
 
 
 
 
Pacific
$
752.8

 
22.3
%
 
$
564.1

 
19.6
%
South Atlantic
707.8

 
20.8
%
 
561.0

 
19.5
%
West South Central
467.1

 
13.7
%
 
460.4

 
16.0
%
Middle Atlantic
411.4

 
12.1
%
 
332.7

 
11.6
%
East North Central
383.1

 
11.3
%
 
337.8

 
11.8
%
Mountain
263.9

 
7.8
%
 
214.5

 
7.5
%
West North Central
224.9

 
6.6
%
 
205.2

 
7.1
%
New England
116.7

 
3.4
%
 
119.1

 
4.1
%
East South Central
69.6

 
2.0
%
 
79.2

 
2.8
%
Total Commercial mortgage loans
$
3,397.3

 
100.0
%
 
$
2,874.0

 
100.0
%
(1) Balances do not include allowance for mortgage loan credit losses.
 
December 31,
 
2013(1)
 
2012(1)
 
Gross
Carrying Value
 
% of
Total
 
Gross
Carrying Value
 
% of
Total
Commercial Mortgage Loans by Property Type:
 
 
 
 
 
 
 
Retail
$
1,082.1

 
31.9
%
 
$
824.0

 
28.7
%
Industrial
972.6

 
28.6
%
 
1,035.2

 
36.0
%
Office
462.1

 
13.6
%
 
427.0

 
14.8
%
Apartments
445.2

 
13.1
%
 
298.7

 
10.4
%
Hotel/Motel
182.8

 
5.4
%
 
92.1

 
3.2
%
Mixed Use
70.9

 
2.1
%
 
34.2

 
1.2
%
Other
181.6

 
5.3
%
 
162.8

 
5.7
%
Total Commercial mortgage loans
$
3,397.3

 
100.0
%
 
$
2,874.0

 
100.0
%
(1) Balances do not include allowance for mortgage loan credit losses.
Mortgage Loans by Year of Origination
The following table sets forth the breakdown of mortgages by year of origination as of the dates indicated:
 
December 31,
 
2013(1)
 
2012(1)
Year of Origination:
 
 
 
2013
$
785.2

 
$
—

2012
908.1

 
939.0

2011
792.8

 
836.9

2010
121.1

 
124.0

2009
68.4

 
73.0

2008
89.0

 
119.0

2007 and prior
632.7

 
782.1

Total Commercial mortgage loans
$
3,397.3

 
$
2,874.0

(1) Balances do not include allowance for mortgage loan credit losses.
Other than Temporary Impairment, Credit Losses Recognized in Earnings
The following table identifies the Company's credit-related and intent-related impairments included in the Consolidated Statements of Operations, excluding impairments included in Other comprehensive income (loss) by type for the periods indicated:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
Impairment
 
No. of Securities
 
Impairment
 
No. of Securities
 
Impairment
 
No. of Securities
U.S. corporate
$
—

 
—

 
$
2.9

 
3

 
$
20.4

 
17

Foreign(1)
1.8

 
1

 
0.8

 
3

 
27.8

 
50

Residential mortgage-backed
3.4

 
35

 
6.0

 
33

 
8.2

 
38

Commercial mortgage-backed
0.3

 
3

 
—

 
—

 
28.2

 
8

Other asset-backed
0.3

 
2

 
1.2

 
4

 
22.7

 
53

Equity securities
0.1

 
1

 
—

 
—

 
—

 
—

Total
$
5.9

 
42

 
$
10.9

 
43

 
$
107.3

 
166

(1) Primarily U.S. dollar denominated.

The above tables include $4.8, $9.1 and $17.6 related to credit impairments for the years ended December 31, 2013, 2012 and 2011, respectively, in Other-than-temporary impairments, which are recognized in the Consolidated Statements of Operations.
Net Investment Income
The following table summarizes Net investment income for the periods indicated:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Fixed maturities
$
1,199.4

 
$
1,222.5

 
$
1,224.2

Equity securities, available-for-sale
2.8

 
7.5

 
13.6

Mortgage loans on real estate
157.1

 
143.5

 
118.1

Policy loans
13.1

 
13.2

 
13.7

Short-term investments and cash equivalents
0.9

 
1.4

 
0.8

Other
42.6

 
6.8

 
95.5

Gross investment income
1,415.9

 
1,394.9

 
1,465.9

Less: investment expenses
48.9

 
46.1

 
45.0

Net investment income
$
1,367.0

 
$
1,348.8

 
$
1,420.9
Realized Gain (Loss) on Investments
Net realized capital gains (losses) were as follows for the periods indicated:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Fixed maturities, available-for-sale, including securities pledged
$
0.3

 
$
67.5

 
$
112.6

Fixed maturities, at fair value option
(151.5
)
 
(124.2
)
 
(60.6
)
Equity securities, available-for-sale
0.1

 
(0.2
)
 
7.4

Derivatives
(72.1
)
 
1.3

 
(64.3
)
Embedded derivatives - fixed maturities
(24.7
)
 
(5.5
)
 
4.9

Embedded derivatives - product guarantees
105.5

 
120.4

 
(216.1
)
Other investments
0.2

 
—

 
0.3

Net realized capital gains (losses)
$
(142.2
)
 
$
59.3

 
$
(215.8
)
After-tax net realized capital gains (losses)
$
(160.0
)
 
$
38.5

 
$
(53.3
)
Gain (Loss) on Investments
Proceeds from the sale of fixed maturities and equity securities, available-for-sale and the related gross realized gains and losses, before tax were as follows for the periods indicated:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Proceeds on sales
$
1,830.0

 
$
2,887.1

 
$
5,596.3

Gross gains
23.8

 
88.7

 
249.0

Gross losses
22.1

 
12.7

 
33.6
Intent related impairment
  
Available-for-sale Securities Including Securities Pledged [Line Items]  
Other than Temporary Impairment, Credit Losses Recognized in Earnings
The remaining $1.1, $1.8 and $89.7 for the years ended December 31, 2013, 2012 and 2011, respectively, are related to intent impairments.

The following table summarizes these intent impairments, which are also recognized in earnings, by type for the periods indicated:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
Impairment
 
No. of Securities
 
Impairment
 
No. of Securities
 
Impairment
 
No. of Securities
U.S. corporate
$
—

 
—

 
$
0.2

 
1

 
$
20.4

 
17

Foreign(1)
—

 
—

 
0.8

 
3

 
23.7

 
46

Residential mortgage-backed
0.8

 
6

 
0.7

 
3

 
1.6

 
7

Commercial mortgage-backed
0.3

 
3

 
—

 
—

 
22.9

 
8

Other asset-backed
—

 
—

 
0.1

 
1

 
21.1

 
50

Total
$
1.1

 
9

 
$
1.8

 
8

 
$
89.7

 
128

(1) Primarily U.S. dollar denominated.
Credit related impairment
  
Available-for-sale Securities Including Securities Pledged [Line Items]  
Other than Temporary Impairment, Credit Losses Recognized in Earnings
The following table identifies the amount of credit impairments on fixed maturities for which a portion of the OTTI loss was recognized in Other comprehensive income (loss) and the corresponding changes in such amounts for the periods indicated:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Balance at January 1
$
20.0

 
$
19.4

 
$
50.7

Additional credit impairments:
 

 
 

 
 

On securities not previously impaired
1.1

 
1.5

 
0.9

On securities previously impaired
1.8

 
3.7

 
6.7

Reductions:
 

 
 

 
 

Securities intent impaired
—

 
—

 
(8.7
)
Securities sold, matured, prepaid or paid down
(3.3
)
 
(4.6
)
 
(30.2
)
Balance at December 31
$
19.6

 
$
20.0

 
$
19.4
Duration
  
Available-for-sale Securities Including Securities Pledged [Line Items]  
Schedule of Unrealized Loss on Investments
Unrealized capital losses (including noncredit impairments) in fixed maturities, including securities pledged, for instances in which fair value declined below amortized cost by greater than or less than 20% for consecutive months as indicated in the tables below, were as follows as of the dates indicated:
 
Amortized Cost
 
Unrealized Capital Losses
 
Number of Securities
 
< 20%
 
> 20%
 
< 20%
 
> 20%
 
< 20%
 
> 20%
December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
Six months or less below amortized cost
$
2,054.4

 
$
24.1

 
$
45.3

 
$
5.3

 
322

 
7

More than six months and twelve months or less below amortized cost
3,991.4

 
23.5

 
272.6

 
5.8

 
502

 
3

More than twelve months below amortized cost
420.4

 
9.5

 
37.3

 
2.5

 
137

 
8

Total
$
6,466.2

 
$
57.1

 
$
355.2

 
$
13.6

 
961

 
18

 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
Six months or less below amortized cost
$
1,110.8

 
$
15.2

 
$
19.3

 
$
3.9

 
141

 
10

More than six months and twelve months or less below amortized cost
49.5

 
1.5

 
2.6

 
0.4

 
31

 
2

More than twelve months below amortized cost
198.1

 
61.6

 
6.2

 
20.6

 
99

 
28

Total
$
1,358.4

 
$
78.3

 
$
28.1

 
$
24.9

 
271

 
40
Market Sector (Type of Security)
  
Available-for-sale Securities Including Securities Pledged [Line Items]  
Schedule of Unrealized Loss on Investments
Unrealized capital losses (including noncredit impairments) in fixed maturities, including securities pledged, by market sector for instances in which fair value declined below amortized cost by greater than or less than 20% were as follows as of the dates indicated:
 
Amortized Cost
 
Unrealized Capital Losses
 
Number of Securities
 
< 20%
 
> 20%
 
< 20%
 
> 20%
 
< 20%
 
> 20%
December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasuries
$
161.5

 
$
—

 
$
2.9

 
$
—

 
4

 
—

U.S. corporate, state and municipalities
3,869.0

 
22.8

 
233.2

 
5.7

 
519

 
2

Foreign
1,665.8

 
23.1

 
95.0

 
5.0

 
239

 
5

Residential mortgage-backed
596.9

 
6.8

 
21.0

 
1.7

 
162

 
7

Commercial mortgage-backed
78.8

 
—

 
0.9

 
—

 
12

 
—

Other asset-backed
94.2

 
4.4

 
2.2

 
1.2

 
25

 
4

Total
$
6,466.2

 
$
57.1

 
$
355.2

 
$
13.6

 
961

 
18

 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasuries
$
300.5

 
$
—

 
$
0.5

 
$
—

 
2

 
—

U.S. corporate, state and municipalities
558.1

 
4.7

 
9.1

 
2.0

 
82

 
2

Foreign
242.7

 
36.0

 
5.7

 
10.7

 
38

 
8

Residential mortgage-backed
201.2

 
25.2

 
10.2

 
7.9

 
124

 
24

Commercial mortgage-backed
11.8

 
—

 
0.2

 
—

 
8

 
—

Other asset-backed
44.1

 
12.4

 
2.4

 
4.3

 
17

 
6

Total
$
1,358.4

 
$
78.3

 
$
28.1

 
$
24.9

 
271

 
40