Derivatives (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments in statement of financial position, fair value

The fair values of derivatives, including derivatives embedded in FIA and IUL contracts, are presented in the Consolidated Balance Sheets as follows:

($ in millions)	December 31,
	2021		2020
Assets
Derivatives, reported in Short-term and other investments	$	10.7	$	16.8
Liabilities
FIA - embedded derivatives, reported in Other policyholder funds	106.6		104.5
IUL - embedded derivatives, reported in Investment contract and policy reserves	2.1		2.5

Derivative instruments, gain (loss)

The changes in fair value of derivatives included in the Consolidated Statements of Operations were as follows:

($ in millions)	Years Ended December 31,
	2021		2020		2019
Change in fair value of derivatives:(1)
Revenues
Net investment gains (losses)	$	8.7	$	0.2	$	9.5
Change in fair value of embedded derivatives:
Revenues
Net investment gains (losses)	(11.3)		(12.1)		(13.6)

(1)    Includes gains or losses recognized at option expiration or early termination and changes in fair value for open positions.

Financing receivable credit quality indicators

The notional amount and fair value of call options by counterparty and each counterparty's long-term credit ratings were as follows:

($ in millions)	December 31, 2021						December 31, 2020
	Credit Rating		Notional Amount		Fair Value		Notional Amount		Fair Value
Counterparty	S&P	Moody's
Bank of America, N.A.	A+	Aa2	$	193.0	$	6.3	$	205.2	$	14.0
Barclays Bank PLC	A	A1	98.7		4.1		81.9		2.8
Citigroup Inc.	BBB+	A3	—		—		—		—
Credit Suisse International	A+	A1	14.0		0.3		—		—
Societe Generale	A	A1	—		—		—		—
Total			$	305.7	$	10.7	$	287.1	$	16.8