Business Segments (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from External Customers by Products and Services

Earned Premiums by product line for the nine and three months ended September 30, 2020 and 2019 were:


	Nine Months Ended				Three Months Ended
(Dollars in Millions)	Sep 30, 2020		Sep 30, 2019		Sep 30, 2020		Sep 30, 2019
Specialty Property & Casualty Insurance:
Specialty Automobile	$	2,235.2	$	2,092.5	$	792.2	$	719.2
Commercial Automobile	217.7		186.2		79.2		64.2
Preferred Property & Casualty Insurance:
Personal Automobile	324.6		353.0		110.6		119.7
Homeowners	167.4		182.6		55.0		61.5
Other Personal Lines	27.0		29.5		8.9		9.8
Life & Health Insurance:
Life	289.2		289.0		96.3		96.2
Accident and Health	149.1		142.4		48.9		47.6
Property	48.0		51.4		15.4		17.0
Total Earned Premiums	$	3,458.2	$	3,326.6	$	1,206.5	$	1,135.2

Reconciliation of Revenue from Segments to Consolidated

Segment Revenues, including a reconciliation to Total Revenues, for the nine and three months ended September 30, 2020 and 2019 were:


	Nine Months Ended				Three Months Ended
(Dollars in Millions)	Sep 30, 2020		Sep 30, 2019		Sep 30, 2020		Sep 30, 2019
Segment Revenues:
Specialty Property & Casualty Insurance:
Earned Premiums	$	2,452.9	$	2,278.7	$	871.4	783.4
Net Investment Income	76.2		79.2		30.5		28.8
Other Income	1.4		6.2		0.4		4.4
Total Specialty Property & Casualty Insurance	2,530.5		2,364.1		902.3		816.6
Preferred Property & Casualty Insurance:
Earned Premiums	519.0		565.1		174.5		$	191.0
Net Investment Income	24.3		32.6		10.3		12.0
Other Income	0.1		—		—		—
Total Preferred Property & Casualty Insurance	543.4		597.7		184.8		203.0
Life & Health Insurance:
Earned Premiums	486.3		482.8		160.6		160.8
Net Investment Income	146.0		154.4		50.7		49.7
Other Income	0.6		5.6		—		2.9
Total Life & Health Insurance	632.9		642.8		211.3		213.4
Total Segment Revenues	3,706.8		3,604.6		1,298.4		1,233.0
Income (Loss) from Change in Fair Value of Equity and Convertible Securities	(1.0)		99.7		45.2		9.8
Net Realized Gains on Sales of Investments	38.2		39.1		10.0		1.7
Impairment Losses	(20.0)		(12.1)		(1.0)		(1.8)
Other	89.6		24.2		1.1		1.1
Total Revenues	$	3,813.6	$	3,755.5	$	1,353.7	$	1,243.8

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

Segment Operating Profit, including a reconciliation to Income before Income Taxes, for the nine and three months ended September 30, 2020 and 2019 was:


	Nine Months Ended				Three Months Ended
(Dollars in Millions)	Sep 30, 2020		Sep 30, 2019		Sep 30, 2020		Sep 30, 2019
Segment Operating Profit:
Specialty Property & Casualty Insurance	$	309.4	$	277.4	$	149.9	98.6
Preferred Property & Casualty Insurance	(18.0)		36.2		(41.8)		$	26.5
Life & Health Insurance	61.6		86.4		15.2		41.0
Total Segment Operating Profit	353.0		400.0		123.3		166.1
Corporate and Other Operating Profit (Loss) From:

Partial Satisfaction of Judgment	89.4		20.1		—		—
Other	(26.8)		(24.1)		(11.0)		(3.1)
Corporate and Other Operating Profit (Loss)	62.6		(4.0)		(11.0)		(3.1)
Adjusted Consolidated Operating Profit	415.6		396.0		112.3		163.0
Income (Loss) from Change in Fair Value of Equity and Convertible Securities	(1.0)		99.7		45.2		9.8
Net Realized Gains on Sales of Investments	38.2		39.1		10.0		1.7
Impairment Losses	(20.0)		(12.1)		(1.0)		(1.8)
Acquisition Related Transaction, Integration and Other Costs	(43.3)		(12.2)		(14.4)		(5.4)
Loss from Early Extinguishment of Debt	—		(5.8)		—		(5.8)
Income before Income Taxes	$	389.5	$	504.7	$	152.1	$	161.5

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

Segment Net Operating Income, including a reconciliation to Net Income, for the nine and three months ended September 30, 2020 and 2019 was:


	Nine Months Ended				Three Months Ended
(Dollars in Millions and Net of Income Taxes)	Sep 30, 2020		Sep 30, 2019		Sep 30, 2020		Sep 30, 2019
Segment Net Operating Income (Loss):
Specialty Property & Casualty Insurance	$	246.8	$	220.8	$	119.2	$	78.5
Preferred Property & Casualty Insurance	(13.4)		29.1		(32.7)		21.1
Life & Health Insurance	50.6		69.8		12.2		33.4
Total Segment Net Operating Income	284.0		319.7		98.7		133.0
Corporate and Other Net Operating Income (Loss) From:

Partial Satisfaction of Judgment	70.6		15.9		—		—
Other	(21.6)		(15.2)		(7.8)		(3.0)
Total Corporate and Other Net Operating Income (Loss)	49.0		0.7		(7.8)		(3.0)
Adjusted Consolidated Net Operating Income	333.0		320.4		90.9		130.0
Net Income (Loss) From:
Change in Fair Value of Equity and Convertible Securities	(0.8)		78.8		35.7		7.8
Net Realized Gains on Sales of Investments	30.2		30.9		7.9		1.4
Impairment Losses	(15.8)		(9.6)		(0.8)		(1.5)
Acquisition Related Transaction, Integration and Other Costs	(34.2)		(9.5)		(11.4)		(4.1)
Loss from Early Extinguishment of Debt	—		(4.6)		—		(4.6)
Net Income	$	312.4	$	406.4	$	122.3	$	129.0