Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company conducts and manages its business through five reporting segments. The four operating segments, representing the major lines of business, are: Property & Casualty (primarily personal lines of auto and property insurance products), Supplemental (primarily cancer, heart, hospital, supplemental disability and accident coverages), Retirement (primarily tax-qualified fixed and variable annuities) and Life (life insurance). The Company does not allocate the impact of corporate-level transactions to these operating segments, consistent with the basis for management's evaluation of the results of those segments, but classifies those items in the fifth reporting segment, Corporate & Other. In addition to ongoing transactions such as corporate debt service, net investment gains (losses) and certain public company expenses, such items also have included corporate debt retirement costs, when applicable.

The accounting policies of the segments are the same as those described in Note 1. The Company accounts for intersegment transactions, primarily the allocation of operating and agency costs from Corporate & Other to Property & Casualty, Supplemental, Retirement and Life, on a direct cost basis.

Summarized financial information for these segments is as follows:

($ in millions)	Years Ended December 31,
	2021		2020		2019
Premiums and contract charges earned
Property & Casualty	$	617.4	$	650.1	$	683.5
Supplemental(1)	125.3		130.7		65.8
Retirement	38.5		29.7		29.1
Life	108.4		120.2		119.6
Total	$	889.6	$	930.7	$	898.0
Net investment income
Property & Casualty	$	61.1	$	42.6	$	41.7
Supplemental(1)	24.8		17.8		7.5
Retirement	255.9		229.8		245.5
Life	83.1		69.8		72.0
Corporate & Other	(0.1)		(0.2)		(0.1)
Intersegment eliminations	(2.3)		(2.2)		(1.5)
Total	$	422.5	$	357.6	$	365.1
Net income (loss)
Property & Casualty	$	57.0	$	76.5	$	54.3
Supplemental(1)	46.3		43.1		18.0
Retirement	52.0		20.1		(4.8)
Life	16.1		10.4		17.6
Corporate & Other	(28.6)		(16.8)		99.3
Total	$	142.8	$	133.3	$	184.4

($ in millions)	December 31,
	2021		2020		2019
Assets
Property & Casualty	$	1,243.4	$	1,324.9	$	1,327.1
Supplemental	854.9		811.5		747.6
Retirement	9,939.1		9,198.7		8,330.1
Life	2,129.5		2,044.5		1,965.0
Corporate & Other	281.8		182.3		173.0
Intersegment eliminations	(64.8)		(90.1)		(64.1)
Total	$	14,383.9	$	13,471.8	$	12,478.7

(1)    Acquired on July 1, 2019. The twelve month comparison is not meaningful.

Additional significant financial information for these segments is as follows:

($ in millions)	Years Ended December 31,
	2021		2020		2019
DAC amortization expense
Property & Casualty	$	67.7	$	74.4	$	79.5
Supplemental(1)	1.2		1.3		0.4
Retirement	18.5		16.7		21.5
Life	7.3		7.5		7.8
Total	$	94.7	$	99.9	$	109.2
Income tax expense (benefit)
Property & Casualty	$	13.2	$	15.4	$	14.0
Supplemental(1)	12.7		12.0		5.1
Retirement	9.9		2.1		33.8
Life	3.6		2.4		4.9
Corporate & Other	(7.3)		(5.6)		(5.8)
Total	$	32.1	$	26.3	$	52.0

(1)    Acquired on July 1, 2019. The twelve month comparison is not meaningful.