Acquisitions (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of assets acquired and liabilities assumed

Based on the Company’s preliminary allocation of the final adjusted purchase price, the fair values of the assets acquired and liabilities assumed were as follows:

($ in millions)
Assets:
Investments	$	90.4
Cash and short-term investments	123.4
Reinsurance recoverable	356.0
Intangible assets(1)	59.4
Other assets	23.2
Liabilities:
Investment contract and policy reserves	274.5
Unpaid claims and claim expenses	48.2
Unearned premiums	1.5
Other policyholder funds	152.8
Other liabilities	15.9
Total identifiable net assets acquired	159.5
Goodwill(2)	12.8
Purchase price	$	172.3

(1)    Intangible assets consist of the value of business acquired, value of customer relationships and state licenses. The intangible assets that are amortizable have estimated lives of one to ten years. See Note 5 for further information.

(2)    The amount of goodwill that is expected to be deductible for federal income tax purposes is $18.6 million.