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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2015
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]
The valuation of assets measured at fair value in the Company’s Condensed Consolidated Balance Sheet at December 31, 2014 is summarized below.
 
 
Fair Value Measurements
 
 
(Dollars in Millions)
 
Quoted Prices
in Active Markets
for Identical Assets
(Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total Fair Value
Fixed Maturities:
 
 
 
 
 
 
 
 
U.S. Government and Government Agencies and Authorities
 
$
129.2

 
$
216.3

 
$
—

 
$
345.5

States and Political Subdivisions
 
—

 
1,477.1

 
—

 
1,477.1

Corporate Securities:
 
 
 
 
 
 
 
 
Bonds and Notes
 
—

 
2,517.9

 
360.6

 
2,878.5

Redeemable Preferred Stocks
 
—

 
—

 
6.7

 
6.7

Collateralized Loan Obligations
 
—

 
—

 
64.4

 
64.4

Other Mortgage- and Asset-backed
 
—

 
1.5

 
3.9

 
5.4

Total Investments in Fixed Maturities
 
129.2

 
4,212.8

 
435.6

 
4,777.6

Equity Securities:
 
 
 
 
 
 
 
 
Preferred Stocks:
 
 
 
 
 
 
 
 
Finance, Insurance and Real Estate
 
—

 
84.7

 
5.0

 
89.7

Other Industries
 
—

 
3.4

 
16.4

 
19.8

Common Stocks:
 
 
 
 
 
 
 
 
Manufacturing
 
50.9

 
5.7

 
0.6

 
57.2

Finance, Insurance and Real Estate
 
34.8

 
0.1

 
5.6

 
40.5

Other Industries
 
24.2

 
0.7

 
11.2

 
36.1

Other Equity Interests:
 
 
 
 
 
 
 
 
Exchange Traded Funds
 
202.7

 
—

 
—

 
202.7

Limited Liability Companies and Limited Partnerships
 
—

 
—

 
186.2

 
186.2

Total Investments in Equity Securities
 
312.6

 
94.6

 
225.0

 
632.2

Fair Value Option Investments:
 
 
 
 
 
 
 
 
Limited Liability Companies and Limited Partnership Hedge Funds
 
—

 
—

 
53.3

 
53.3

Other Investments:
 
 
 
 
 
 
 
 
Trading Securities
 
4.9

 
—

 
—

 
4.9

Total
 
$
446.7

 
$
4,307.4

 
$
713.9

 
$
5,468.0

The valuation of assets measured at fair value in the Company’s Condensed Consolidated Balance Sheet at September 30, 2015 is summarized below.
 
 
Fair Value Measurements
 
 
(Dollars in Millions)
 
Quoted Prices
in Active Markets
for Identical Assets
(Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total Fair Value
Fixed Maturities:
 
 
 
 
 
 
 
 
U.S. Government and Government Agencies and Authorities
 
$
128.0

 
$
203.3

 
$
—

 
$
331.3

States and Political Subdivisions
 
—

 
1,591.7

 
—

 
1,591.7

Corporate Securities:
 
 
 
 
 
 
 
 
Bonds and Notes
 
—

 
2,409.3

 
428.5

 
2,837.8

Redeemable Preferred Stocks
 
—

 
—

 
4.5

 
4.5

Collateralized Loan Obligations
 
—

 
—

 
74.3

 
74.3

Other Mortgage- and Asset-backed
 
—

 
1.4

 
3.9

 
5.3

Total Investments in Fixed Maturities
 
128.0

 
4,205.7

 
511.2

 
4,844.9

Equity Securities:
 
 
 
 
 
 
 
 
Preferred Stocks:
 
 
 
 
 
 
 
 
Finance, Insurance and Real Estate
 
—

 
79.3

 
5.0

 
84.3

Other Industries
 
—

 
6.8

 
16.6

 
23.4

Common Stocks:
 
 
 
 
 
 
 
 
Finance, Insurance and Real Estate
 
16.4

 
5.3

 
—

 
21.7

Other Industries
 
0.4

 
—

 
14.9

 
15.3

Other Equity Interests:
 
 
 
 
 
 
 
 
Exchange Traded Funds
 
187.0

 
—

 
—

 
187.0

Limited Liability Companies and Limited Partnerships
 
—

 
—

 
204.0

 
204.0

Total Investments in Equity Securities
 
203.8

 
91.4

 
240.5

 
535.7

Fair Value Option Investments:
 
 
 
 
 
 
 
 
Limited Liability Companies and Limited Partnerships Hedge Funds
 
—

 
—

 
166.1

 
166.1

Other Investments:
 
 
 
 
 
 
 
 
Trading Securities
 
4.6

 
—

 
—

 
4.6

Total
 
$
336.4

 
$
4,297.1

 
$
917.8

 
$
5,551.3
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
The table below presents quantitative information about the significant unobservable inputs utilized by the Company in determining fair values for fixed maturity investments in corporate securities classified as Level 3 at September 30, 2015.
(Dollars in Millions)
 
Unobservable Input
 
Total Fair Value
 
Range of Unobservable Inputs
 
Weighted-average Yield
Investment-grade
 
Market Yield
 
$
109.5

 
2.4
%
-
6.9
%
 
4.2
%
Non-investment-grade:
 
 
 
 
 
 
 
 
 
 
Senior Debt
 
Market Yield
 
107.3

 
5.8

-
14.6

 
9.9

Junior Debt
 
Market Yield
 
202.3

 
8.0

-
25.2

 
13.5

Collateralized Loan Obligations
 
Market Yield
 
74.3

 
3.0

-
9.0

 
5.4

Other
 
Various
 
17.8

 
 
 
 
 
 
Total Fixed Maturity Investments in Corporate Securities
 
 
 
$
511.2

 
 
 
 
 
 
Note 13 - Fair Value Measurements (continued)
The table below presents quantitative information about the significant unobservable inputs utilized by the Company in determining fair values for fixed maturity investments in corporate securities classified as Level 3 at December 31, 2014.
(Dollars in Millions)
 
Unobservable Input
 
Total Fair Value
 
Range of Unobservable Inputs
 
Weighted-average Yield
Investment-grade
 
Market Yield
 
$
107.0

 
2.8
%
-
6.9
%
 
3.9
%
Non-investment-grade:
 
 
 
 
 
 
 
 
 
 
Senior Debt
 
Market Yield
 
92.7

 
3.8

-
14.5

 
10.6

Junior Debt
 
Market Yield
 
149.9

 
8.2

-
21.0

 
13.4

Collateralized Loan Obligations
 
Market Yield
 
64.4

 
2.7

-
8.1

 
5.2

Other Debt
 
Various
 
21.6

 
 
 
 
 
 
Total Fixed Maturity Investments in Corporate Securities
 
 
 
$
435.6

 
 
 
 
 
 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the nine months ended September 30, 2015 is presented below.
 
 
Fixed Maturities
 
Equity Securities
 
 
 
 
(Dollars in Millions)
 
Corporate
Bonds
and Notes
 
Redeemable
Preferred
Stocks
 
Collateralized Loan Obligations
 
Other Mortgage-
and Asset-
backed
 
Preferred
and 
Common
Stocks
 
Other
Equity
Interests
 
Fair
Value
Option
 
Total
Balance at Beginning of Period
 
$
360.6

 
$
6.7

 
$
64.4

 
$
3.9

 
$
38.8

 
$
186.2

 
$
53.3

 
$
713.9

Total Gains (Losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Included in Condensed Consolidated Statement of Income
 
(3.5
)
 
(1.3
)
 
0.5

 
—

 
(1.2
)
 
(0.5
)
 
1.8

 
(4.2
)
Included in Other Comprehensive Income
 
(3.4
)
 
(0.6
)
 
(0.3
)
 
—

 
1.6

 
(1.3
)
 
—

 
(4.0
)
Purchases
 
184.7

 
—

 
24.7

 
1.3

 
7.2

 
48.4

 
111.0

 
377.3

Settlements
 
(35.2
)
 
(0.3
)
 
(7.5
)
 
(0.1
)
 
(0.5
)
 
(32.9
)
 
—

 
(76.5
)
Sales
 
(62.4
)
 
—

 
(7.5
)
 
(1.2
)
 
(1.8
)
 
—

 
—

 
(72.9
)
Transfers into Level 3
 
—

 
—

 
—

 
—

 
0.8

 
4.1

 
—

 
4.9

Transfers out of Level 3
 
(12.3
)
 
—

 
—

 
—

 
(8.4
)
 
—

 
—

 
(20.7
)
Balance at End of Period
 
$
428.5

 
$
4.5

 
$
74.3

 
$
3.9

 
$
36.5

 
$
204.0

 
$
166.1

 
$
917.8


Note 13 - Fair Value Measurements (continued)
Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the three months ended September 30, 2015 is presented below.
 
 
Fixed Maturities
 
Equity Securities
 
 
 
 
(Dollars in Millions)
 
Corporate
Bonds
and Notes
 
Redeemable
Preferred
Stocks
 
Collateralized Loan Obligations
 
Other Mortgage-
and Asset-
backed
 
Preferred
and 
Common
Stocks
 
Other
Equity
Interests
 
Fair
Value
Option
 
Total
Balance at Beginning of Period
 
$
406.6

 
$
5.4

 
$
70.4

 
$
4.0

 
$
37.7

 
$
199.9

 
$
160.0

 
$
884.0

Total Gains (Losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Included in Condensed Consolidated Statement of Income
 
(0.4
)
 
(0.8
)
 
0.1

 
—

 
—

 
0.6

 
(0.9
)
 
(1.4
)
Included in Other Comprehensive Income
 
(2.0
)
 
—

 
(1.5
)
 
(0.1
)
 
(0.6
)
 
(1.0
)
 
—

 
(5.2
)
Purchases
 
59.4

 
—

 
5.3

 
—

 
0.2

 
18.1

 
7.0

 
90.0

Settlements
 
(28.3
)
 
(0.1
)
 
—

 
—

 
(0.2
)
 
(13.6
)
 
—

 
(42.2
)
Sales
 
(6.8
)
 
—

 
—

 
—

 
(0.6
)
 
—

 
—

 
(7.4
)
Balance at End of Period
 
$
428.5

 
$
4.5

 
$
74.3

 
$
3.9

 
$
36.5

 
$
204.0

 
$
166.1

 
$
917.8

Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the nine months ended September 30, 2014 is presented below.
 
 
Fixed Maturities
 
Equity Securities
 
 
 
 
(Dollars in Millions)
 
Corporate
Bonds
and Notes
 
Redeemable
Preferred
Stocks
 
Collateralized Loan Obligations
 
Other Mortgage-
and Asset-
backed
 
Preferred
and 
Common
Stocks
 
Other
Equity
Interests
 
Fair
Value
Option
 
Total
Balance at Beginning of Period
 
$
364.1

 
$
7.4

 
$
44.7

 
$
4.5

 
$
32.1

 
$
173.9

 
$
—

 
$
626.7

Total Gains (Losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Included in Condensed Consolidated Statement of Income
 
(4.1
)
 
—

 
0.1

 
0.1

 
3.1

 
—

 
0.6

 
(0.2
)
Included in Other Comprehensive Income
 
4.0

 
0.4

 
(0.4
)
 
0.2

 
3.0

 
29.7

 
—

 
36.9

Purchases
 
117.6

 
—

 
18.1

 
—

 
2.8

 
38.6

 
50.0

 
227.1

Settlements
 
(92.4
)
 
(0.4
)
 
—

 
(0.8
)
 
(3.6
)
 
(21.8
)
 
—

 
(119.0
)
Sales
 
(47.6
)
 
—

 
—

 
—

 
(2.2
)
 
(2.7
)
 
—

 
(52.5
)
Transfers out of Level 3
 
(0.6
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(0.6
)
Balance at End of Period
 
$
341.0

 
$
7.4

 
$
62.5

 
$
4.0

 
$
35.2

 
$
217.7

 
$
50.6

 
$
718.4


Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the three months ended September 30, 2014 is presented below.
 
 
Fixed Maturities
 
Equity Securities
 
 
 
 
(Dollars in Millions)
 
Corporate
Bonds
and Notes
 
Redeemable
Preferred
Stocks
 
Collateralized Loan Obligations
 
Other Mortgage-
and Asset-
backed
 
Preferred
and 
Common
Stocks
 
Other
Equity
Interests
 
Fair
Value
Option
 
Total
Balance at Beginning of Period
 
$
384.8

 
$
7.1

 
$
49.5

 
$
3.9

 
$
36.3

 
$
194.4

 
$
40.3

 
$
716.3

Total Gains (Losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Included in Condensed Consolidated Statement of Income
 
(1.8
)
 
—

 
—

 
—

 
0.8

 
0.3

 
0.3

 
(0.4
)
Included in Other Comprehensive Income
 
(1.4
)
 
0.5

 
(0.3
)
 
0.1

 
1.0

 
19.2

 
—

 
19.1

Purchases
 
31.7

 
—

 
13.3

 
—

 
0.1

 
12.3

 
10.0

 
67.4

Settlements
 
(41.6
)
 
(0.2
)
 
—

 
—

 
(0.8
)
 
(8.2
)
 
—

 
(50.8
)
Sales
 
(30.7
)
 
—

 
—

 
—

 
(2.2
)
 
(0.3
)
 
—

 
(33.2
)
Balance at End of Period
 
$
341.0

 
$
7.4

 
$
62.5

 
$
4.0

 
$
35.2

 
$
217.7

 
$
50.6

 
$
718.4