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Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company conducts and manages its business through four reporting segments. The three reporting segments representing the major lines of business, are: (1) Property & Casualty (primarily personal lines of auto and property insurance products), (2) Life & Retirement (primarily tax-qualified fixed and variable annuities as well as life insurance products), and (3) Supplemental & Group Benefits (primarily cancer, heart, hospital, supplemental disability, accident, short-term and long-term group disability, and group term life coverages). The Company does not allocate the impact of corporate-level transactions to these reporting segments, consistent with the basis for management's evaluation of the results of those reporting segments, but classifies those items in the fourth reporting segment, Corporate & Other. Corporate & Other includes corporate debt service, net investment gains (losses) and certain public company expenses, as well as corporate debt retirement costs, when applicable. In addition to these transactions, Corporate & Other also includes legacy commercial claims.
The accounting policies of the reporting segments are the same as those described in Note 1-Basis of Presentation and Significant Accounting Policies. Expense allocations are based on certain assumptions and estimates primarily related to direct cost, revenue and activity; methodologies are applied consistently. Stated segment operating results would change if different methods were applied.
The Company’s Chief Executive Officer is the chief operating decision maker (CODM), responsible for reviewing financial performance and making decisions regarding the allocation of resources for the reporting segments. The Company measures and analyzes segment performance based on core earnings which differs from total income as presented in our consolidated statements of operations due to excluding the after-tax impact of net investment gains (losses), discontinued operations, the after-tax impact of goodwill and intangible asset impairments, other non-recurring or infrequent items, the cumulative effect of changes in accounting principles when applicable, and for the period ended December 31, 2025, the impacts of the immaterial correction of the prior period error discussed in Note 1. We believe core earnings is a better performance measure and indicator of the profitability and underlying trends in our business. The CODM considers actual-to-budget variances in core earnings on a monthly basis when making decisions about allocating capital and personnel to segments and evaluating product pricing.
Disaggregated financial information for these segments, as regularly provided to the CODM, is as follows:
December 31, 2025
Property & Casualty
Life & Retirement
Supplemental & Group Benefits
Corporate & Other*
Totals
($ in millions)
Net premiums and contract charges earned$802.6 $158.6 $267.2 $— $1,228.4 
Net investment income(1)
57.1 373.2 40.3 3.9 474.5 
Other segment income
3.2 21.2 (5.1)2.4 21.7 
Total segment revenues
$862.9 $553.0 $302.4 $6.3 $1,724.6 

Benefits and claims expenses
   (excluding catastrophe losses)
$366.0 $124.2 $93.1 $— $583.3 
Catastrophe losses
61.7 — — — 61.7 
Loss adjustment expenses
68.3 — — — 68.3 
Interest credited
— 211.6 5.3 — 216.9 
Operating & admin expenses
136.3 99.6 81.7 16.8 334.4 
Commissions expense
72.0 42.3 45.1 — 159.4 
Taxes, licenses and fees
21.2 4.0 5.3 0.6 31.1 
Deferred policy acquisition costs
(103.7)(26.6)(5.1)— (135.4)
Deferred policy acquisition
   cost amortization
98.2 24.3 2.0 — 124.5 
Interest expense
— — — 36.4 36.4 
Total segment expenses
$720.0 $479.4 $227.4 $53.8 $1,480.6 
Pretax profit (loss)
$142.9 $73.6 $75.0 $(47.5)$244.0 
Income tax expense
30.5 12.6 16.3 (11.2)48.2 
Segment profit (loss) (Core earnings)
112.4 61.0 58.7 (36.3)195.8 
Net investment losses (after-tax) — — — (10.2)(10.2)
Non-core income adjustment (after-tax)
— (4.2)(13.7)(5.6)(23.5)
Net income
$112.4 $56.8 $45.0 $(52.1)$162.1 
(1) In the second quarter of 2025, the Company recorded a reduction in net investment income due to an immaterial out-of-period correction of an error. See additional disclosure contained in Note 1 of the December 31, 2025 Form 10-K.
December 31, 2024
Property & Casualty
Life & Retirement
Supplemental & Group Benefits
Corporate & Other*
Totals
($ in millions)
Net premiums and contract charges earned$736.5 $154.6 $254.9 $— $1,146.0 
Net investment income
46.0 363.6 38.1 (2.0)445.7 
Other segment income
2.3 20.2 (4.6)2.9 20.8 
Total segment revenues
$784.8 $538.4 $288.4 $0.9 $1,612.5 

Benefits and claims expenses
   (excluding catastrophe losses)
$353.3 $128.1 $78.8 $— $560.2 
Catastrophe losses
94.9 — — — 94.9 
Loss adjustment expenses
72.8 — — — 72.8 
Interest credited
— 211.2 4.7 — 215.9 
Operating & admin expenses
122.4 93.2 70.7 8.6 294.9 
Commissions expense
63.0 41.1 38.1 — 142.2 
Taxes, licenses and fees
20.2 3.8 5.9 0.7 30.6 
Deferred policy acquisition costs
(89.8)(28.3)(4.1)— (122.2)
Deferred policy acquisition
   cost amortization
84.6 24.6 1.9 — 111.1 
Interest expense
— — — 34.6 34.6 
Total segment expenses
$721.4 $473.7 $196.0 $43.9 $1,435.0 
Pretax profit (loss)
$63.4 $64.7 $92.4 $(43.0)$177.5 
Income tax expense
14.3 10.5 20.7 (9.3)36.2 
Segment profit (loss) (Core earnings)
49.1 54.2 71.7 (33.7)141.3 
Net investment losses (after-tax)
— — — (13.6)(13.6)
Non-core income adjustments (after-tax)
— 2.1 (11.3)(15.7)(24.9)
Net income
$49.1 $56.3 $60.4 $(63.0)$102.8 
December 31, 2023
Property & Casualty
Life & Retirement
Supplemental & Group Benefits
Corporate & Other*
Totals
($ in millions)
Net premiums and contract charges earned$645.6 $151.7 $259.8 $— $1,057.1 
Net investment income
37.9 369.9 38.9 (1.9)444.8 
Other segment income
2.8 17.0 (11.1)5.3 14.0 
Total segment revenues
$686.3 $538.6 $287.6 $3.4 $1,515.9 

Benefits and claims expenses
   (excluding catastrophe losses)
$387.9 $127.7 $88.9 $— $604.5 
Catastrophe losses
97.6 — — — 97.6 
Loss adjustment expenses
71.5 — — — 71.5 
Interest credited
— 201.8 3.9 — 205.7 
Operating & admin expenses
109.2 83.9 66.9 7.0 267.0 
Commissions expense
52.6 37.2 40.6 — 130.4 
Taxes, licenses and fees
17.7 3.9 5.7 0.4 27.7 
Deferred policy acquisition costs
(76.2)(26.2)(4.6)— (107.0)
Deferred policy acquisition
   cost amortization
71.3 28.0 1.9 — 101.2 
Interest expense
— — — 29.7 29.7 
Total segment expenses
$731.6 $456.3 $203.3 $37.1 $1,428.3 
Pretax profit (loss)
$(45.3)$82.3 $84.3 $(33.7)$87.6 
Income tax expense
(9.8)14.1 17.9 (6.6)15.6 
Segment profit (loss) (Core earnings)
(35.5)68.2 66.4 (27.1)72.0 
Net investment losses (after-tax)
— — — (18.8)(18.8)
Non-core income adjustments (after-tax)
— 3.3 (11.5)— (8.2)
Net income
$(35.5)$71.5 $54.9 $(45.9)$45.0 
*-Corporate & Other is net of intersegment eliminations.

($ in millions)December 31,
202520242023
Assets
Property & Casualty$1,372.1 $1,272.3 $1,218.1 
Life & Retirement12,204.5 11,670.7 11,365.0 
Supplemental & Group Benefits
1,401.7 1,377.6 1,338.8 
Corporate & Other308.8 191.0 190.4 
Intersegment eliminations(20.5)(23.8)(62.4)
Total
$15,266.6 $14,487.8 $14,049.9