XML 104 R75.htm IDEA: XBRL DOCUMENT v3.24.0.1
Fair Value of Financial Instruments - Quantitative Information about Level 3 Fair Value Measurements (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) $ 5,235.3 $ 5,185.0 [1]    
Equity securities at fair value, (cost $86.2 and $99.6) 86.2 99.6 [1]    
Net MRBs (3.9) 0.3 $ 4.8 $ 8.6
Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 5,235.3 5,185.0    
Equity securities at fair value, (cost $86.2 and $99.6) 86.2 99.6    
Financial Liabilities 86.0 92.5    
Mortgage-backed securities | Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 653.2 570.4    
Municipal bonds | Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 1,270.1 1,269.7    
Corporate bonds | Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 1,772.7 1,901.7    
Other asset-backed securities | Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 1,128.4 1,067.0    
Fair Value, Inputs, Level 3 | Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 514.0 423.3    
Equity securities at fair value, (cost $86.2 and $99.6) 4.5 2.0    
Totals 518.5 425.3    
Financial Liabilities 82.4 91.3    
Derivatives embedded in fixed indexed annuity products 86.3 91.0    
Net MRBs (3.9) 0.3    
Fair Value, Inputs, Level 3 | Fair Value | Recurring | Internal        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 180.4 9.5    
Equity securities at fair value, (cost $86.2 and $99.6) 0.0 0.0    
Totals 180.4 9.5    
Financial Liabilities 82.4 91.3    
Fair Value, Inputs, Level 3 | Fair Value | Recurring | External        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 333.6 413.8    
Equity securities at fair value, (cost $86.2 and $99.6) 4.5 2.0    
Totals 338.1 415.8    
Financial Liabilities 0.0 0.0    
Fair Value, Inputs, Level 3 | Mortgage-backed securities | Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 0.0 2.6    
Fair Value, Inputs, Level 3 | Mortgage-backed securities | Fair Value | Recurring | Internal        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 0.0 0.0    
Fair Value, Inputs, Level 3 | Mortgage-backed securities | Fair Value | Recurring | External        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 0.0 2.6    
Fair Value, Inputs, Level 3 | Municipal bonds | Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 74.0 54.4    
Fair Value, Inputs, Level 3 | Municipal bonds | Fair Value | Recurring | Internal        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 0.0 0.0    
Fair Value, Inputs, Level 3 | Municipal bonds | Fair Value | Recurring | External        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 74.0 54.4    
Fair Value, Inputs, Level 3 | Corporate bonds | Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 342.5 261.3    
Fair Value, Inputs, Level 3 | Corporate bonds | Fair Value | Recurring | Internal        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 180.4 9.5    
Fair Value, Inputs, Level 3 | Corporate bonds | Fair Value | Recurring | External        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 162.1 $ 251.8    
Fair Value, Inputs, Level 3 | Corporate bonds | discounted cash flow | yield        
Fair Value Measurement Inputs and Valuation Techniques        
Debt securities, measurement input   6.8    
Fair Value, Inputs, Level 3 | Other asset-backed securities | Fair Value | Recurring        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 97.5 $ 105.0    
Fair Value, Inputs, Level 3 | Other asset-backed securities | Fair Value | Recurring | Internal        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) 0.0 0.0    
Fair Value, Inputs, Level 3 | Other asset-backed securities | Fair Value | Recurring | External        
Fair Value Measurement Inputs and Valuation Techniques        
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2023, $5,652.9; 2022, $5,756.9) $ 97.5 $ 105.0    
Minimum | Fair Value, Inputs, Level 3 | discounted cash flow | Measurement Input Option Budget [Member]        
Fair Value Measurement Inputs and Valuation Techniques        
Derivatives embedded in fixed indexed annuity products, measurement input 0.009 0.009    
Minimum | Fair Value, Inputs, Level 3 | Corporate bonds | discounted cash flow | yield        
Fair Value Measurement Inputs and Valuation Techniques        
Debt securities, measurement input 0.067      
Maximum | Fair Value, Inputs, Level 3 | discounted cash flow | Measurement Input Option Budget [Member]        
Fair Value Measurement Inputs and Valuation Techniques        
Derivatives embedded in fixed indexed annuity products, measurement input 0.038 0.034    
Maximum | Fair Value, Inputs, Level 3 | Corporate bonds | discounted cash flow | yield        
Fair Value Measurement Inputs and Valuation Techniques        
Debt securities, measurement input 0.170      
Weighted Average | Fair Value, Inputs, Level 3 | discounted cash flow | lapse rate        
Fair Value Measurement Inputs and Valuation Techniques        
Derivatives embedded in fixed indexed annuity products, measurement input 0.059 0.054    
Net MRBs, measurement input 0.059 0.053    
Weighted Average | Fair Value, Inputs, Level 3 | discounted cash flow | mortality multiplier        
Fair Value Measurement Inputs and Valuation Techniques        
Derivatives embedded in fixed indexed annuity products, measurement input 0.694 0.678    
Net MRBs, measurement input 0.678 0.678    
Weighted Average | Fair Value, Inputs, Level 3 | discounted cash flow | non-performance adjustment        
Fair Value Measurement Inputs and Valuation Techniques        
Derivatives embedded in fixed indexed annuity products, measurement input 0.050 0.050    
[1] Recast for the adoption of ASU 2018-12. See Note 1 of the Consolidated Financial Statements