Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Financial Information for these Segments

Disaggregated financial information for these segments, as regularly provided to the CODM as of and for the three months ended September 30, 2025, is as follows:

	Property & Casualty		Life & Retirement		Supplemental & Group Benefits		Corporate & Other*		Totals
($ in millions)
Net premiums and contract charges earned	$	204.7	$	39.2	$	66.4	$	—	$	310.3
Net investment income	14.7		94.0		11.1		(0.3)		119.6
Other segment income	0.6		6.1		(1.9)		0.5		5.3
Total segment revenues	$	220.0	$	139.3	$	75.6	$	0.2	$	435.2
Benefits and claims expenses    (excluding catastrophe losses)	$	95.2	$	31.2	$	19.0	$	—	$	145.4
Catastrophe losses	9.9		—		—		—		9.9
Loss adjustment expenses	18.1		—		—		—		18.1
Interest credited	—		54.2		1.5		—		55.7
Operating & admin expenses	34.5		25.0		21.6		2.8		84.0
Commissions expense	21.2		10.9		10.7		—		42.8
Taxes, licenses and fees	5.8		0.9		1.1		0.2		8.0
Deferred policy acquisition costs	(30.2)		(7.1)		(1.3)		—		(38.6)
Deferred policy acquisition    cost amortization	25.1		5.9		0.5		—		31.5
Interest expense	—		—		—		8.9		8.9
Total segment expenses	$	179.7	$	121.1	$	53.1	$	11.9	$	365.8
Pretax profit (loss)	$	40.4	$	18.2	$	22.5	$	(11.7)	$	69.4
Income tax expense	8.5		3.1		4.7		(3.6)		12.7
Segment profit (loss) (Core earnings)	31.8		15.1		17.8		(8.1)		56.7
Net investment losses (after-tax)	—		—		—		(2.7)		(2.7)
Non-core income adjustments (after-tax)	—		(1.8)		2.8		—		1.0
Net income	$	31.8	$	16.9	$	15.0	$	(5.4)	$	58.3

*-Corporate & Other is net of intersegment eliminations.

Disaggregated financial information for these segments, as regularly provided to the CODM as of and for the nine months ended September 30, 2025, is as follows:

	Property & Casualty		Life & Retirement		Supplemental & Group Benefits		Corporate & Other*		Totals
($ in millions)
Net premiums and contract charges earned	$	594.7	$	117.3	$	199.2	$	—	$	911.2
Net investment income(1)	41.4		280.2		31.1		3.8		356.5
Other segment income	2.6		15.8		(4.9)		1.5		15.0
Total segment revenues	$	638.7	$	413.3	$	225.4	$	5.3	$	1,282.7
Benefits and claims expenses    (excluding catastrophe losses)	$	270.5	$	93.0	$	68.8	$	—	$	432.3
Catastrophe losses	56.0		—		—		—		56.0
Loss adjustment expenses	51.6		—		—		—		51.6
Interest credited	—		157.3		3.9		—		161.2
Operating & admin expenses	101.3		72.9		60.1		8.8		243.1
Commissions expense	54.6		30.5		33.2		—		118.3
Taxes, licenses and fees	16.8		3.2		4.2		0.5		24.7
Deferred policy acquisition costs	(79.2)		(19.2)		(3.7)		—		(102.1)
Deferred policy acquisition    cost amortization	72.0		17.6		1.4		—		91.0
Interest expense	—		—		—		26.4		26.4
Total segment expenses	$	543.6	$	355.3	$	167.9	$	35.7	$	1,102.5
Pretax profit (loss)	$	95.0	$	58.0	$	57.5	$	(30.4)	$	180.2
Income tax expense	19.9		10.4		12.3		(8.0)		34.6
Segment profit (loss) (Core earnings)	75.1		47.6		45.2		(22.4)		145.6
Net investment losses (after-tax)	—		—		—		4.6		4.6
Non-core income adjustments (after-tax)(1)	—		3.9		11.1		—		15.0
Net income	$	75.1	$	43.7	$	34.1	$	(27.0)	$	125.9

*-Corporate & Other is net of intersegment eliminations.

(1) In the second quarter of 2025, the Company recorded a reduction in net investment income due to an immaterial out-of-period correction of an error. See additional disclosure contained in Note 1 of the September 30, 2025 Form 10-Q.

Disaggregated financial information for these segments, as regularly provided to the CODM as of and for the three months ended September 30, 2024, is as follows:

	Property & Casualty		Life & Retirement		Supplemental & Group Benefits		Corporate & Other*		Totals
($ in millions)
Net premiums and contract charges earned	$	187.3	$	39.1	$	62.7	$	—	$	289.1
Net investment income(1)	8.8		94.6		10.1		(0.5)		113.0
Other segment income	0.6		5.3		(0.4)		0.7		6.2
Total segment revenues	$	196.7	$	139.0	$	72.4	$	0.2	$	408.3
Benefits and claims expenses    (excluding catastrophe losses)	$	83.0	$	34.9	$	21.3	$	—	$	139.2
Catastrophe losses	34.0		—		—		—		34.0
Loss adjustment expenses	17.7		—		—		—		17.7
Interest credited	—		53.6		1.2		—		54.8
Operating & admin expenses	28.9		21.5		17.1		2.7		70.2
Commissions expense	16.8		10.5		9.5		—		36.8
Taxes, licenses and fees	5.6		1.0		1.3		0.1		8.0
Deferred policy acquisition costs	(24.3)		(6.8)		(0.9)		—		(32.0)
Deferred policy acquisition    cost amortization	21.7		5.9		0.5		—		28.1
Interest expense	—		—		—		8.7		8.7
Total segment expenses	$	183.4	$	120.6	$	50.0	$	11.5	$	365.5
Pretax profit (loss)	$	13.3	$	18.5	$	22.4	$	(11.3)	$	42.8
Income tax expense	2.6		3.4		4.8		(2.3)		8.5
Segment profit (loss) (Core earnings)	10.7		15.1		17.6		(9.0)		34.3
Net investment losses (after-tax)	—		—		—		3.0		3.0
Change in MRB (after-tax)	—		(0.3)		—		—		(0.3)
Intangible asset amortization (after-tax)	—		—		(2.8)		—		(2.8)
Net income	$	10.7	$	14.8	$	14.8	$	(6.0)	$	34.3

*-Corporate & Other is net of intersegment eliminations.

(1) In the second quarter of 2025, the Company recorded a reduction in net investment income due to an immaterial out-of-period correction of an error. See additional disclosure contained in Note 1 of the September 30, 2025 Form 10-Q.

Disaggregated financial information for these segments, as regularly provided to the CODM as of and for the nine months ended September 30, 2024, is as follows:

	Property & Casualty		Life & Retirement		Supplemental & Group Benefits		Corporate & Other*		Totals
($ in millions)
Net premiums and contract charges earned	$	539.7	$	114.9	$	190.6	$	—	$	845.2
Net investment income(1)	30.6		269.3		28.4		(1.5)		326.8
Other segment income	1.9		14.7		(4.6)		2.0		14.0
Total segment revenues	$	572.2	$	398.9	$	214.4	$	0.5	$	1,186.0
Benefits and claims expenses    (excluding catastrophe losses)	$	267.9	$	98.1	$	66.6	$	—	$	432.6
Catastrophe losses	91.1		—		—		—		91.1
Loss adjustment expenses	53.2		—		—		—		53.2
Interest credited	—		158.0		3.5		—		161.5
Operating & admin expenses	87.8		66.4		51.5		7.7		213.4
Commissions expense	46.4		30.3		28.4		—		105.1
Taxes, licenses and fees	15.2		2.8		4.3		0.6		22.9
Deferred policy acquisition costs	(67.3)		(20.9)		(2.9)		—		(91.1)
Deferred policy acquisition    cost amortization	62.0		18.6		1.5		—		82.1
Interest expense	—		—		—		26.1		26.1
Total segment expenses	$	556.3	$	353.3	$	152.9	$	34.4	$	1,096.9
Pretax profit (loss)	$	15.9	$	45.6	$	61.5	$	(33.9)	$	89.1
Income tax expense	3.2		8.2		13.1		(7.0)		17.5
Segment profit (loss) (Core earnings)	12.7		37.4		48.4		(26.9)		71.6
Net investment losses (after-tax)	—		—		—		0.1		0.1
Change in MRB (after-tax)	—		1.6		—		—		1.6
Intangible asset amortization (after-tax)	—		(0.2)		(8.5)		—		(8.7)
Net income	$	12.7	$	38.8	$	39.9	$	(26.8)	$	64.6

*-Corporate & Other is net of intersegment eliminations.

(1) In the second quarter of 2025, the Company recorded a reduction in net investment income due to an immaterial out-of-period correction of an error. See additional disclosure contained in Note 1 of the September 30, 2025 Form 10-Q.

Schedule of Additional Significant Financial Information for these Segments

($ in millions)	September 30, 2025		December 31, 2024
Assets
Property & Casualty	$	1,397.8	$	1,272.3
Life & Retirement	12,212.7		11,670.7
Supplemental & Group Benefits	1,413.3		1,377.6
Corporate & Other	519.8		191.0
Intersegment eliminations	(53.9)		(23.8)
Total	$	15,489.7	$	14,487.8