Business Segments

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Business Segments

Note 12 - Business Segments

The Company is engaged, through its subsidiaries, in the property and casualty insurance and life and health insurance businesses. The Company conducts its operations through two operating segments: Property & Casualty Insurance and Life & Health Insurance.

The Property & Casualty Insurance segment’s principal products are personal automobile insurance, both standard and nonstandard risk, homeowners insurance, other personal insurance and commercial automobile insurance. These products are primarily distributed through independent agents and brokers, employer-sponsored voluntary benefit programs and other affinity relationships. The Life & Health Insurance segment’s principal products are individual life, accident, health and property insurance. These products are distributed by career agents employed by the Company as well as exclusive and non-exclusive independent agents and brokers.

Earned Premiums by product line for the six and three months endedJune 30, 2015 and 2014 were:

	Six Months Ended				Three Months Ended
(Dollars in Millions)	Jun 30, 2015		Jun 30, 2014		Jun 30, 2015		Jun 30, 2014
Personal Automobile	$	442.4	$	428.3	$	252.6	$	212.0
Homeowners	144.2		158.7		71.6		79.0
Other Personal Property and Casualty Insurance	61.3		64.4		30.7		32.3
Commercial Automobile	27.0		26.7		13.5		13.6
Life	184.0		194.8		96.0		97.2
Accident and Health	72.5		75.0		35.7		36.2
Total Earned Premiums	$	931.4	$	947.9	$	500.1	$	470.3

Segment Revenues, including a reconciliation to Total Revenues, for the six and three months endedJune 30, 2015 and 2014 were:

	Six Months Ended						Three Months Ended
(Dollars in Millions)	Jun 30, 2015			Jun 30, 2014			Jun 30, 2015			Jun 30, 2014
Revenues:
Property & Casualty Insurance:
Earned Premiums	$	637.0		$	639.8		$	349.4		$	317.5
Net Investment Income	33.4			37.1			18.6			19.5
Other Income	0.4			0.3			0.1			0.2
Total Property & Casualty Insurance	670.8			677.2			368.1			337.2
Life & Health Insurance:
Earned Premiums	294.4			308.1			150.7			152.8
Net Investment Income	103.9			98.2			53.5			48.0
Other Income	1.0			—			0.2			—
Total Life & Health Insurance	399.3			406.3			204.4			200.8
Total Segment Revenues	1,070.1			1,083.5			572.5			538.0
Net Realized Gains on Sales of Investments	37.4			10.1			34.0			3.5
Net Impairment Losses Recognized in Earnings	(9.2		)	(4.9		)	(2.2		)	(4.1		)
Other	10.1			8.4			4.9			5.1
Total Revenues	$	1,108.4		$	1,097.1		$	609.2		$	542.5

Note 12 - Business Segments (continued)

Segment Operating Profit, including a reconciliation to Income from Continuing Operations before Income Taxes, for the six and three months endedJune 30, 2015 and 2014 was:

	Six Months Ended						Three Months Ended
(Dollars in Millions)	Jun 30, 2015			Jun 30, 2014			Jun 30, 2015			Jun 30, 2014
Segment Operating Profit (Loss):
Property & Casualty Insurance	$	9.6		$	15.0		$	(8.4	)	$	(4.3	)
Life & Health Insurance	47.0			59.3			22.2			24.7
Total Segment Operating Profit	56.6			74.3			13.8			20.4
Corporate and Other Operating Loss	(23.6		)	(16.4		)	(11.3		)	(8.6		)
Total Operating Profit	33.0			57.9			2.5			11.8
Net Realized Gains on Sales of Investments	37.4			10.1			34.0			3.5
Net Impairment Losses Recognized in Earnings	(9.2		)	(4.9		)	(2.2		)	(4.1		)
Loss from Early Extinguishment of Debt	(9.1		)	—			—			—
Income from Continuing Operations before Income Taxes	$	52.1		$	63.1		$	34.3		$	11.2

Segment Net Operating Income, including a reconciliation to Income from Continuing Operations, for the six and three months endedJune 30, 2015 and 2014 was:

	Six Months Ended						Three Months Ended
(Dollars in Millions)	Jun 30, 2015			Jun 30, 2014			Jun 30, 2015			Jun 30, 2014
Segment Net Operating Income (Loss):
Property & Casualty Insurance	$	10.8		$	13.2		$	(2.6	)	$	(1.2	)
Life & Health Insurance	30.4			38.0			14.3			15.9
Total Segment Net Operating Income	41.2			51.2			11.7			14.7
Corporate and Other Net Operating Loss	(12.7		)	(10.1		)	(5.0		)	(5.1		)
Consolidated Net Operating Income	28.5			41.1			6.7			9.6
Net Income (Loss) From:
Net Realized Gains on Sales of Investments	24.3			6.6			22.1			2.4
Net Impairment Losses Recognized in Earnings	(6.0		)	(3.2		)	(1.4		)	(2.7		)
Loss from Early Extinguishment of Debt	(5.9		)	—			—			—
Income from Continuing Operations	$	40.9		$	44.5		$	27.4		$	9.3