Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Disaggregated financial information for these segments, as regularly provided to the CODM, is as follows:


December 31, 2024	Property & Casualty		Life & Retirement		Supplemental & Group Benefits		Corporate & Other*		Totals
($ in millions)
Net premiums and contract charges earned	$	736.5	$	154.6	$	254.9	$	—	$	1,146.0
Net investment income	46.0		363.6		38.1		(2.0)		445.7
Other segment income	2.3		20.2		(4.6)		2.9		20.8
Total segment revenues	$	784.8	$	538.4	$	288.4	$	0.9	$	1,612.5

Benefits and claims expenses (excluding catastrophe losses)	$	353.3	$	125.2	$	78.8	$	—	$	557.3
Catastrophe losses	94.9		—		—		—		94.9
Loss adjustment expenses	72.8		—		—		—		72.8
Interest credited	—		211.2		4.7		—		215.9
Operating & admin expenses	122.4		93.2		70.7		8.6		294.9
Commissions expense	63.0		41.1		38.1		—		142.2
Taxes, licenses and fees	20.2		3.8		5.9		0.7		30.6
Deferred policy acquisition costs	(89.8)		(28.3)		(4.1)		—		(122.2)
Deferred policy acquisition cost amortization	84.6		24.6		1.9		—		111.1
Intangible asset amortization	—		0.2		14.3		—		14.5
Interest expense	—		—		—		34.6		34.6
Total segment expenses	$	721.4	$	471.0	$	210.3	$	43.9	$	1,446.6

Pretax profit (loss)	$	63.4	$	67.4	$	78.1	$	(43.0)	$	165.9
Income tax expense	14.3		11.1		17.7		(9.3)		33.8
Segment profit (loss) (Core earnings)	49.1		56.3		60.4		(33.7)		132.1
Net investment losses (after-tax)	—		—		—		(13.6)		(13.6)
Non-core Legacy Commercial exposures (before-tax)	—		—		—		(20.0)		(20.0)
Non-core Legacy Commercial exposures (after-tax)	—		—		—		(15.7)		(15.7)
Net income	$	49.1	$	56.3	$	60.4	$	(63.0)	$	102.8


December 31, 2023	Property & Casualty		Life & Retirement		Supplemental & Group Benefits		Corporate & Other*		Totals
($ in millions)
Net premiums and contract charges earned	$	645.6	$	151.7	$	259.8	$	—	$	1,057.1
Net investment income	37.9		369.9		38.9		(1.9)		444.8
Other segment income	2.8		17.0		(11.1)		5.3		14.0
Total segment revenues	$	686.3	$	538.6	$	287.6	$	3.4	$	1,515.9

Benefits and claims expenses (excluding catastrophe losses)	$	387.9	$	123.2	$	88.9	$	—	$	600.0
Catastrophe losses	97.6		—		—		—		97.6
Loss adjustment expenses	71.5		—		—		—		71.5
Interest credited	—		201.8		3.9		—		205.7
Operating & admin expenses	109.2		83.9		66.9		7.0		267.0
Commissions expense	52.6		37.2		40.6		—		130.4
Taxes, licenses and fees	17.7		3.9		5.7		0.4		27.7
Deferred policy acquisition costs	(76.2)		(26.2)		(4.6)		—		(107.0)
Deferred policy acquisition cost amortization	71.3		28.0		1.9		—		101.2
Intangible asset amortization	—		0.2		14.6		—		14.8
Interest expense	—		—		—		29.7		29.7
Total segment expenses	$	731.6	$	452.0	$	217.9	$	37.1	$	1,438.6

Pretax profit (loss)	$	(45.3)	$	86.6	$	69.7	$	(33.7)	$	77.3
Income tax expense	(9.8)		15.1		14.8		(6.6)		13.5
Segment profit (loss) (Core earnings)	(35.5)		71.5		54.9		(27.1)		63.8
Net investment losses (after-tax)	—		—		—		(18.8)		(18.8)
Net income	$	(35.5)	$	71.5	$	54.9	$	(45.9)	$	45.0


December 31, 2022	Property & Casualty		Life & Retirement		Supplemental & Group Benefits		Corporate & Other*		Totals
($ in millions)
Net premiums and contract charges earned	$	608.2	$	144.0	$	275.5	$	—	$	1,027.7
Net investment income	31.4		338.3		33.3		(2.1)		400.9
Other segment income	3.4		17.0		(13.4)		2.5		9.5
Total segment revenues	$	643.0	$	499.3	$	295.4	$	0.4	$	1,438.1

Benefits and claims expenses (excluding catastrophe losses)	$	388.0	$	121.5	$	91.2	$	—	$	600.7
Catastrophe losses	80.0		—		—		—		80.0
Loss adjustment expenses	66.3		—		—		—		66.3
Interest credited	—		172.1		1.3		—		173.4
Operating & admin expenses	104.9		88.5		54.6		7.8		255.8
Commissions expense	43.8		37.2		44.1		—		125.1
Taxes, licenses and fees	18.4		4.1		6.1		0.4		29.0
Deferred policy acquisition costs	(64.5)		(27.4)		(2.5)		—		(94.4)
Deferred policy acquisition cost amortization	64.3		23.0		0.9		—		88.2
Intangible asset amortization	—		1.1		15.7		—		16.8
Interest expense	—		—		—		19.4		19.4
Total segment expenses	$	701.2	$	420.1	$	211.4	$	27.6	$	1,360.3

Pretax profit (loss)	$	(58.2)	$	79.2	$	84.0	$	(27.2)	$	77.8
Income tax expense	(13.8)		11.6		18.1		(6.2)		9.7
Segment profit (loss) (Core earnings)	(44.4)		67.6		65.9		(21.0)		68.1
Net investment losses (after-tax)	—		—		—		(44.5)		(44.5)
Goodwill and intangible asset impairments (after-tax)	—		(3.8)		—		—		(3.8)
Net income	$	(44.4)	$	63.8	$	65.9	$	(65.5)	$	19.8

*-Corporate & Other is net of intersegment eliminations.


($ in millions)	December 31,
	2024		2023		2022
Assets
Property & Casualty	$	1,272.3	$	1,218.1	$	1,083.8
Life & Retirement	11,670.7		11,365.0		10,754.4
Supplemental & Group Benefits	1,377.6		1,338.8		1,359.3
Corporate & Other	191.0		190.4		173.4
Intersegment eliminations	(23.8)		(62.4)		(64.8)
Total	$	14,487.8	$	14,049.9	$	13,306.1