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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Company's Fair Value Hierarchy Measured at Recurring Basis
The following table presents the Company's fair value hierarchy for financial assets and financial liabilities measured and carried at fair value on a recurring basis. As of December 31, 2025, Level 3 investments comprised approximately 7.8% of the Company's total investment portfolio at fair value.
($ in millions)Carrying
Amount		Fair
Value		Fair Value Measurements at
Reporting Date Using
Level 1Level 2Level 3
December 31, 2025
Financial Assets
Investments
Fixed maturity securities
U.S. Government and federally
sponsored agency obligations:
Mortgage-backed securities$689.0 $689.0 $— $689.0 $— 
Other, including U.S. Treasury securities325.8 325.8 40.8 285.0 — 
Municipal bonds1,177.1 1,177.1 — 1,098.7 78.4 
Foreign government bonds10.0 10.0 — 10.0 — 
Corporate bonds1,910.3 1,910.3 4.9 1,562.8 342.6 
Other asset-backed securities1,602.4 1,602.4 — 1,558.1 44.3 
Total fixed maturity securities5,714.6 5,714.6 45.7 5,203.6 465.3 
Equity securities
41.9 41.9 1.3 36.8 3.8 
Short-term investments
210.5 210.5 210.5 — — 
Other investments
21.6 21.6 — 21.6 — 
Totals$5,988.6 $5,988.6 $257.5 $5,262.0 $469.1 
Separate Account variable annuity assets(1)
$4,157.4 $4,157.4 $4,157.4 
Financial Liabilities(2)
$78.9 $78.9 $— $5.8 $73.1 
December 31, 2024
Financial Assets
Investments
Fixed maturity securities
U.S. Government and federally
sponsored agency obligations:
Mortgage-backed securities$755.8 $755.8 $— $755.8 $— 
Other, including U.S. Treasury securities357.6 357.6 24.7 332.9 — 
Municipal bonds1,150.8 1,150.8 — 1,075.9 74.9 
Foreign government bonds13.1 13.1 — 13.1 — 
Corporate bonds1,782.4 1,782.4 7.7 1,423.4 351.3 
Other asset-backed securities1,328.2 1,328.2 — 1,254.5 73.7 
Total fixed maturity securities5,387.9 5,387.9 32.4 4,855.6 499.9 
Equity securities
66.5 66.5 1.4 60.9 4.2 
    Limited partnership interests(3)
28.9 28.9 — — 28.9 
Short-term investments
101.1 101.1 101.1 — — 
Other investments
18.5 18.5 — 18.5 — 
Totals$5,602.9 $5,602.9 $134.9 $4,935.0 $533.0 
Separate Account variable annuity assets(1)
$3,708.8 $3,708.8 $3,708.8 $— $— 
Financial Liabilities(2)
$79.6 $79.6 $— $4.1 $75.5 
(1) Separate Account variable annuity assets represent contractholder funds invested in various actively traded mutual funds that have daily quoted net asset values that are readily determinable for identical assets that the Company can access. Separate Account variable annuity liabilities are equal to the estimated fair value of Separate Account variable annuity assets.
(2) Represents embedded derivatives related to fixed indexed annuity and indexed universal life products as well as net MRBs reported in Policyholders' account balances in the Company's Consolidated Balance Sheets.
(3) The Company held two limited partnership investments accounted for at fair value using the fair value option (FVO) at December 31, 2024 which were sold in 2025.
Schedule of Table for Reconciliations for all Level 3 Assets Measured at Fair Value on a Recurring Basis The following tables present reconciliations for the periods indicated for all Level 3 financial assets and financial liabilities measured at fair value on a recurring basis.
($ in millions)Financial Assets
Financial
Liabilities(1)
Municipal
Bonds		Corporate
 Bonds
Mortgage-Backed
and Other Asset-
Backed
Securities(2)
Total
Fixed
Maturity
Securities
Equity
Securities & Limited Partnership Interests
Total
Beginning balance, January 1, 2025$74.9 $351.3 $73.7 $499.9 $33.1 $533.0 $75.5 
Transfers into Level 3(3)
1.2 — — 1.2 — 1.2 — 
Transfers out of Level 3(3)
— — — — — — — 
Total gains or losses
Net investment gains (losses)
included in net income
— (2.0)(5.9)(7.9)6.4 (1.5)— 
Net investment (gains) losses
included in net income related
to financial liabilities
— — — — — 10.8 
Net unrealized investment gains
(losses) included in OCI
2.8 7.6 2.4 12.8 12.8 (0.4)
Purchases0.7 52.4 4.0 57.1 57.1 — 
Issuances— — — — — 4.3 
Sales— (57.0)(16.6)(73.6)(35.0)(108.6)— 
Settlements— — — — — — 
Paydowns, maturities and distributions(1.2)(9.7)(13.3)(24.2)(0.7)(24.9)(17.1)
Ending balance, December 31, 2025$78.4 $342.6 $44.3 $465.3 $3.8 $469.1 $73.1 
Beginning balance, January 1, 2024$74.0 $342.5 $97.5 $514.0 $4.5 $518.5 $82.4 
Transfers into Level 3(3)
— 11.8 8.0 19.8 28.9 48.7 — 
Transfers out of Level 3(3)
— (8.4)(4.0)(12.4)— (12.4)— 
Total gains or losses
Net investment gains (losses)
included in net income
— — 0.3 0.3 0.6 0.9 — 
Net investment (gains) losses
included in net income related
to financial liabilities
— — — — — — 5.4 
Net unrealized investment gains
(losses) included in OCI
(2.1)5.7 0.1 3.7 — 3.7 — 
Purchases4.2 81.2 1.7 87.1 1.2 88.3 — 
Issuances— — — — — — 5.4 
Sales— (46.4)— (46.4)— (46.4)— 
Settlements— — — — — — — 
Paydowns, maturities and distributions(1.2)(35.1)(29.9)(66.2)(2.1)(68.3)(17.7)
Ending balance, December 31, 2024$74.9 $351.3 $73.7 $499.9 $33.1 $533.0 $75.5 
(1)    Represents embedded derivatives, all related to the Company's FIA products, as well as net MRBs reported in Policyholders' account balances in the Company's Consolidated Balance Sheets.
(2)    Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other asset-backed securities.
(3)    Transfers into and out of Level 3 during the years ended December 31, 2025 and 2024 were attributable to changes in the availability of observable market information for individual fixed maturity securities, limited partnerships and short-term investments. In addition, during the fourth quarter of 2024, the Company transferred in two limited partnership investments that are carried at fair value using fair value option accounting. The Company's policy is to recognize transfers into and out of the levels as having occurred at the end of the reporting period in which the transfers were determined.
Schedule of Fair Value Measurement Inputs and Valuation Techniques
Level 3 Assets and Liabilities by Price Source
The table below presents the balances of Level 3 assets and liabilities measured at fair value with their corresponding pricing sources:
($ in millions)
TotalInternal External
December 31, 2025
Financial Assets
Fixed maturity securities
U.S. Government and federally sponsored agency obligations:
Mortgage-backed securities$— $— $— 
Municipal bonds78.4 — 78.4 
Corporate bonds342.6 6.7 335.9 
Other asset-backed securities44.3 — 44.3 
Total fixed maturity securities465.3 6.7 458.6 
Equity securities3.8 2.6 1.2 
Totals$469.1 $9.3 $459.8 
Financial Liabilities(1)
$73.1 $73.1 $— 
December 31, 2024
Financial Assets
Fixed maturity securities
U.S. Government and federally sponsored agency obligations:
Mortgage-backed securities$— $— $— 
Municipal bonds74.9 — 74.9 
Corporate bonds351.3 199.3 152.0 
Other asset-backed securities73.7 — 73.7 
Total fixed maturity securities499.9 199.3 300.6 
Equity securities4.2 — 4.2 
Limited partnership interests
28.9 — 28.9 
Totals$533.0 $199.3 $333.7 
Financial Liabilities(1)
$75.5 $75.5 $— 
(1) Represents embedded derivatives, all related to the Company's FIA products, as well as net MRBs reported in Policyholders' account balances in the Company's Consolidated Balance Sheets.
The following table provides quantitative information about the significant unobservable inputs for recurring fair value measurements categorized within Level 3.
($ in millions)
Fair Value at
December 31, 2025
Valuation TechniquesUnobservable Inputs
Range
(Weighted Average)
and Single Point Best Estimate(1)
Impact of Increase in Input on Fair Value
Financial Liabilities
Derivatives embedded in fixed indexed annuity products$82.1 discounted cash flowlapse rate
7.5%
Decrease
mortality multiplier(2)
71.0%
Decrease
option budget
0.9% - 3.9%
Increase
non-performance adjustment(3)
5.0%
Decrease
Net MRBs$(9.0)discounted cash flowlapse rate
7.5%
Decrease
mortality multiplier(2)
71.0%
Increase
(1) When a range of unobservable inputs is not readily available, the Company uses a single point best estimate.
(2) Mortality multiplier is applied to the Annuity 2000 table.
(3) Determined as a percentage of the risk-free rate.
($ in millions)
Fair Value at
December 31, 2024
Valuation TechniquesUnobservable Inputs
Range
(Weighted Average)
and Single Point Best Estimate(1)
Impact of Increase in Input on Fair Value
Financial Assets
Corporate bonds$199.3 discounted cash flowyield
3.9% - 10.6%
Decrease
option adjusted spread
242 bps - 768 bps
Decrease
Financial Liabilities
Derivatives embedded in fixed indexed annuity products$82.3 discounted cash flowlapse rate6.4%Decrease
mortality multiplier(2)
67.0%Decrease
option budget
0.9% - 3.8%
Increase
non-performance adjustment(3)
5.0%Decrease
Net MRBs$(6.8)discounted cash flowlapse rate6.4%Decrease
mortality multiplier(2)
67.0%Increase
(1) When a range of unobservable inputs is not readily available, the Company uses a single point best estimate.
(2) Mortality multiplier is applied to the Annuity 2000 table.
(3) Determined as a percentage of the risk-free rate.
The following table summarizes the ranges of actual experience and expected experience for mortality and lapses of LFPB:
December 31, 2025
Whole Life Term LifeExperience Life Limited-Pay Whole Life
Supplemental Health
SPIA (life contingent)
Mortality / Morbidity
Actual experience0.8 %
0.1% - 0.9%
1.7 %0.4 %29.8 %N.M.
Expected experience0.8 %
0.1% - 1.8%
1.9 %0.3 %26.5 %N.M.
Lapses
Actual experience4.0 %
4.1% - 17.4%
3.9 %3.7 %10.9 %N.M.
Expected experience3.8 %
5.2% - 16.7%
3.1 %4.0 %10.2 %N.M.
December 31, 2024
Whole LifeTerm LifeExperience LifeLimited-Pay Whole Life
Supplemental Health
SPIA (life contingent)
Mortality / Morbidity
Actual experience0.7 %
0.1% - 0.5%
1.8 %0.1 %31.8 %N.M.
Expected experience0.8 %
0.1% - 1.7%
1.7 %0.3 %26.3 %N.M.
Lapses
Actual experience3.0 %
3.9% - 38.2%
2.9 %4.0 %9.7 %N.M.
Expected experience4.5 %
5.6% - 21.9%
3.1 %4.8 %9.9 %N.M.
Schedule of Fair Value Assets and Liabilities Measured on Nonrecurring Basis
The following table presents the carrying amount and fair value of the Company’s financial assets and financial liabilities not carried at fair value and the level within the fair value hierarchy at which such financial assets and liabilities are categorized.
($ in millions)Carrying
Amount		Fair
Value		Fair Value Measurements at
Reporting Date Using
Level 1Level 2Level 3
December 31, 2025
Financial Assets
Other investments$215.5 $218.7 $— $39.3 $179.4 
Deposit asset on reinsurance2,369.6 2,143.1 — — 2,143.1 
Financial Liabilities
Policyholders' account balances
4,984.9 4,791.1 — — 4,791.1 
Other policyholder funds1,046.2 1,046.2 — 1,043.2 3.0 
Long-term debt593.4 629.1 — 629.1 — 
December 31, 2024
Financial Assets
Other investments$221.0 $224.3 $— $37.0 $187.3 
Deposit asset on reinsurance2,434.3 2,121.9 — — 2,121.9 
Financial Liabilities
Policyholders' account balances
5,020.2 4,710.1 — — 4,710.1 
Other policyholder funds
995.7 995.7 — 992.9 2.8 
Reverse repurchase agreement
12.0 12.4 — 12.4 — 
Long-term debt547.0 575.1 — 575.1 —