Investments (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Available-for-sale Securities [Line Items]

Schedule of Unrealized Loss on Investments

An aging of unrealized losses on the Company’s Investments in Fixed Maturities and Equity Securities at December 31, 2014 is presented below.

DOLLARS IN MILLIONS	Less Than 12 Months					12 Months or Longer					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed Maturities:
U.S. Government and Government Agencies and Authorities	$	24.9	$	(0.7	)	$	55.5	$	(1.3	)	$	80.4	$	(2.0	)
States and Political Subdivisions	1.0		—			126.3		(1.8		)	127.3		(1.8		)
Corporate Securities:
Bonds and Notes	250.4		(5.1		)	360.5		(10.0		)	610.9		(15.1		)
Collateralized Loan Obligations	51.2		(0.7		)	3.4		(0.1		)	54.6		(0.8		)
Other Mortgage- and Asset-backed	—		—			0.4		—			0.4		—
Total Fixed Maturities	327.5		(6.5		)	546.1		(13.2		)	873.6		(19.7		)
Equity Securities:
Preferred Stocks:
Finance, Insurance and Real Estate	7.5		(0.1		)	12.1		(0.9		)	19.6		(1.0		)
Other Industries	—		—			0.5		—			0.5		—
Common Stocks:
Manufacturing	15.1		(1.1		)	—		—			15.1		(1.1		)
Other Industries	4.2		(0.4		)	1.0		—			5.2		(0.4		)
Other Equity Interests:
Exchange Traded Funds	14.9		(0.1		)	14.4		(0.6		)	29.3		(0.7		)
Limited Liability Companies and Limited Partnerships	54.4		(1.5		)	6.6		(0.3		)	61.0		(1.8		)
Total Equity Securities	96.1		(3.2		)	34.6		(1.8		)	130.7		(5.0		)
Total	$	423.6	$	(9.7	)	$	580.7	$	(15.0	)	$	1,004.3	$	(24.7	)

An aging of unrealized losses on the Company’s Investments in Fixed Maturities and Equity Securities at December 31, 2013 is presented below:

DOLLARS IN MILLIONS	Less Than 12 Months					12 Months or Longer					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed Maturities:
U.S. Government and Government Agencies and Authorities	$	95.8	$	(10.9	)	$	4.4	$	(0.8	)	$	100.2	$	(11.7	)
States and Political Subdivisions	222.9		(20.1		)	2.0		(0.1		)	224.9		(20.2		)
Corporate Securities:
Bonds and Notes	699.8		(39.4		)	103.2		(8.3		)	803.0		(47.7		)
Other Mortgage- and Asset-backed	13.9		(0.1		)	1.1		—			15.0		(0.1		)
Total Fixed Maturities	1,032.4		(70.5		)	110.7		(9.2		)	1,143.1		(79.7		)
Equity Securities:
Preferred Stocks:
Finance, Insurance and Real Estate	22.5		(2.5		)	2.5		—			25.0		(2.5		)
Other Industries	4.3		(0.1		)	0.7		—			5.0		(0.1		)
Common Stocks:
Manufacturing	5.0		(0.1		)	0.2		—			5.2		(0.1		)
Other Industries	14.2		(0.9		)	0.5		—			14.7		(0.9		)
Other Equity Interests:
Exchange Traded Funds	67.6		(1.0		)	—		—			67.6		(1.0		)
Limited Liability Companies and Limited Partnerships	53.1		(0.9		)	5.0		(0.7		)	58.1		(1.6		)
Total Equity Securities	166.7		(5.5		)	8.9		(0.7		)	175.6		(6.2		)
Total	$	1,199.1	$	(76.0	)	$	119.6	$	(9.9	)	$	1,318.7	$	(85.9	)

Other than Temporary Impairment, Credit Losses Recognized in Earnings

The following table sets forth the pre-tax amount of OTTI credit losses, recognized in Retained Earnings for Investments in Fixed Maturities held by the Company as of December 31, 2014, 2013 and 2012, for which a portion of the OTTI loss related to factors other than credit has been recognized in AOCI, and the corresponding changes in such amounts.

DOLLARS IN MILLIONS	2014			2013			2012
Balance at Beginning of Year	$	9.9		$	4.6		$	3.9
Additions for Previously Unrecognized OTTI Credit Losses	2.4			1.8			1.1
Increases to Previously Recognized OTTI Credit Losses	0.6			7.3			—
Reductions to Previously Recognized OTTI Credit Losses	—			—			(0.1		)
Reductions for Change in Impairment Status:
From Status of Credit Loss to Status of Intent-to-sell or Required-to-sell	(2.4		)	(3.2		)	—
Reductions for Investments Sold During Period	(5.2		)	(0.6		)	(0.3		)
Balance at End of Year	$	5.3		$	9.9		$	4.6

The components of Net Impairment Losses Recognized in Earnings reported in the Consolidated Statements of Income for the years ended December 31, 2014, 2013 and 2012 were:

DOLLARS IN MILLIONS	2014			2013			2012
Fixed Maturities	$	(5.7	)	$	(10.3	)	$	(1.9	)
Equity Securities	(7.1		)	(3.6		)	(1.9		)
Real Estate	(2.4		)	—			(3.1		)
Net Impairment Losses Recognized in Earnings	$	(15.2	)	$	(13.9	)	$	(6.9	)

Schedule of Other Investments

The carrying values of the Company’s Other Investments at December 31, 2014 and 2013 were:

DOLLARS IN MILLIONS	2014		2013
Loans to Policyholders at Unpaid Principal	$	283.4	$	275.4
Real Estate at Depreciated Cost	160.9		167.1
Trading Securities at Fair Value	4.9		5.0
Other	0.4		0.5
Total	$	449.6	$	448.0

Investments in Fixed Maturities [Member]

Schedule of Available-for-sale Securities [Line Items]

Schedule of Available-for-sale Securities Reconciliation

The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2013 were:

	Amortized Cost		Gross Unrealized					Fair Value
DOLLARS IN MILLIONS			Gains		Losses
U.S. Government and Government Agencies and Authorities	$	351.1	$	22.8	$	(11.7	)	$	362.2
States and Political Subdivisions	1,327.4		53.8		(20.2		)	1,361.0
Corporate Securities:
Bonds and Notes	2,636.4		205.0		(47.7		)	2,793.7
Redeemable Preferred Stocks	6.6		0.8		—			7.4
Collateralized Loan Obligations	44.2		0.5		—			44.7
Other Mortgage- and Asset-backed	4.8		1.3		(0.1		)	6.0
Investments in Fixed Maturities	$	4,370.5	$	284.2	$	(79.7	)	$	4,575.0

The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2014 were:

DOLLARS IN MILLIONS	Amortized Cost		Gross Unrealized					Fair Value
			Gains		Losses
U.S. Government and Government Agencies and Authorities	$	315.2	$	32.3	$	(2.0	)	$	345.5
States and Political Subdivisions	1,352.5		126.4		(1.8		)	1,477.1
Corporate Securities:
Bonds and Notes	2,599.3		294.3		(15.1		)	2,878.5
Redeemable Preferred Stocks	5.9		0.8		—			6.7
Collateralized Loan Obligations	64.9		0.3		(0.8		)	64.4
Other Mortgage- and Asset-backed	3.9		1.5		—			5.4
Investments in Fixed Maturities	$	4,341.7	$	455.6	$	(19.7	)	$	4,777.6

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2014 by contractual maturity were:

DOLLARS IN MILLIONS	Amortized Cost		Fair Value
Due in One Year or Less	$	51.0	$	52.7
Due after One Year to Five Years	769.6		820.2
Due after Five Years to Ten Years	1,340.7		1,398.0
Due after Ten Years	1,979.4		2,294.3
Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date	201.0		212.4
Investments in Fixed Maturities	$	4,341.7	$	4,777.6

Investments in Equity Securities [Member]

Schedule of Available-for-sale Securities [Line Items]

Schedule of Available-for-sale Securities Reconciliation

Gross unrealized gains and gross unrealized losses on the Company’s Investments in Equity Securities at December 31, 2014 were:

DOLLARS IN MILLIONS	Cost		Gross Unrealized					Fair Value
			Gains		Losses
Preferred Stocks:
Finance, Insurance and Real Estate	$	85.5	$	5.2	$	(1.0	)	$	89.7
Other Industries	16.3		3.5		—			19.8
Common Stocks:
Manufacturing	43.4		14.9		(1.1		)	57.2
Other Industries	60.8		16.2		(0.4		)	76.6
Other Equity Interests:
Exchange Traded Funds	195.2		8.2		(0.7		)	202.7
Limited Liability Companies and Limited Partnerships	160.3		27.7		(1.8		)	186.2
Investments in Equity Securities	$	561.5	$	75.7	$	(5.0	)	$	632.2

Gross unrealized gains and gross unrealized losses on the Company’s Investments in Equity Securities at December 31, 2013 were:

DOLLARS IN MILLIONS			Gross Unrealized
	Cost		Gains		Losses			Fair Value
Preferred Stocks:
Finance, Insurance and Real Estate	$	85.4	$	2.9	$	(2.5	)	$	85.8
Other Industries	20.1		4.4		(0.1		)	24.4
Common Stocks:
Manufacturing	83.4		21.3		(0.1		)	104.6
Other Industries	68.8		17.0		(0.9		)	84.9
Other Equity Interests:
Exchange Traded Funds	122.0		3.9		(1.0		)	124.9
Limited Liability Companies and Limited Partnerships	150.3		25.2		(1.6		)	173.9
Investments in Equity Securities	$	530.0	$	74.7	$	(6.2	)	$	598.5