Business Segments (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from External Customers by Products and Services

Earned Premiums by product line for the nine and three months ended September 30, 2022 and 2021 were:


	Nine Months Ended				Three Months Ended
(Dollars in Millions)	Sep 30, 2022		Sep 30, 2021		Sep 30, 2022		Sep 30, 2021
Specialty Property & Casualty Insurance:
Personal Automobile	$	2,666.3	$	2,615.6	$	858.8	$	920.6
Commercial Automobile	398.5		300.6		140.7		107.7
Preferred Property & Casualty Insurance:
Personal Automobile	279.5		309.1		89.5		102.6
Homeowners	150.9		154.6		51.9		52.5
Other Personal Lines	24.4		25.4		7.9		8.6
Life & Health Insurance:
Life	304.6		300.2		100.4		101.5
Accident and Health	136.8		142.3		45.9		47.0
Property	38.3		46.8		11.9		15.6
Total Earned Premiums	$	3,999.3	$	3,894.6	$	1,307.0	$	1,356.1

Reconciliation of Revenue from Segments to Consolidated

Segment Revenues, including a reconciliation to Total Revenues, for the nine and three months ended September 30, 2022 and 2021 were:


	Nine Months Ended				Three Months Ended
(Dollars in Millions)	Sep 30, 2022		Sep 30, 2021		Sep 30, 2022		Sep 30, 2021
Segment Revenues:
Specialty Property & Casualty Insurance:
Earned Premiums	$	3,064.8	$	2,916.2	$	999.5	$	1,028.3
Net Investment Income	102.8		114.7		33.9		37.0
Change in Value of Alternative Energy Partnership Investments	(10.6)		(22.3)		0.3		(11.3)
Other Income	5.0		3.1		2.3		1.2
Total Specialty Property & Casualty Insurance	3,162.0		3,011.7		1,036.0		1,055.2
Preferred Property & Casualty Insurance:
Earned Premiums	454.8		489.1		149.3		163.7
Net Investment Income	36.2		51.5		11.8		16.1
Change in Value of Alternative Energy Partnership Investments	(5.0)		(12.5)		—		(6.4)

Total Preferred Property & Casualty Insurance	486.0		528.1		161.1		173.4
Life & Health Insurance:
Earned Premiums	479.7		489.3		158.2		164.1
Net Investment Income	163.9		151.9		52.6		48.4
Change in Value of Alternative Energy Partnership Investments	(5.6)		(12.1)		0.1		(6.1)
Other Income	(0.8)		0.3		—		0.1
Total Life & Health Insurance	637.2		629.4		210.9		206.5
Total Segment Revenues	4,285.2		4,169.2		1,408.0		1,435.1
Income (Loss) from Change in Fair Value of Equity and Convertible Securities	(79.9)		92.4		(11.2)		(0.6)
Net Realized Investment Gains (Losses)	0.4		43.1		(12.1)		10.1
Net Impairment Losses Recognized in Earnings	(22.1)		(7.8)		(8.3)		(0.6)
Other	16.5		18.2		1.2		11.4
Total Revenues	$	4,200.1	$	4,315.1	$	1,377.6	$	1,455.4

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

Segment Operating Income (Loss), including a reconciliation to Income (Loss) before Income Taxes, for the nine and three months ended September 30, 2022 and 2021 was:


	Nine Months Ended				Three Months Ended
(Dollars in Millions)	Sep 30, 2022		Sep 30, 2021		Sep 30, 2022		Sep 30, 2021
Segment Operating Income (Loss):
Specialty Property & Casualty Insurance	$	(150.4)	$	(128.7)	$	(39.2)	$	(91.8)
Preferred Property & Casualty Insurance	(34.4)		(27.8)		(3.3)		(17.4)
Life & Health Insurance	35.8		6.5		13.8		(5.9)
Total Segment Operating Income (Loss)	(149.0)		(150.0)		(28.7)		(115.1)
Corporate and Other Operating Income (Loss) From:


Other	(32.2)		(40.8)		(16.6)		(15.5)
Corporate and Other Operating Income (Loss)	(32.2)		(40.8)		(16.6)		(15.5)
Adjusted Consolidated Operating Income (Loss)	(181.2)		(190.8)		(45.3)		(130.6)
Income (Loss) from Change in Fair Value of Equity and Convertible Securities	(79.9)		92.4		(11.2)		(0.6)
Net Realized Investment Gains (Losses)	0.4		43.1		(12.1)		10.1
Impairment Losses	(22.1)		(7.8)		(8.3)		(0.6)
Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs	(27.3)		(34.8)		(12.7)		(8.1)
Loss from Early Extinguishment of Debt	(3.7)		—		—		—
Income (Loss) before Income Taxes	$	(313.8)	$	(97.9)	$	(89.6)	$	(129.8)

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

Segment Net Operating Income (Loss), including a reconciliation to Net Income (Loss), for the nine and three months ended September 30, 2022 and 2021 was:


	Nine Months Ended				Three Months Ended
(Dollars in Millions and Net of Income Taxes)	Sep 30, 2022		Sep 30, 2021		Sep 30, 2022		Sep 30, 2021
Segment Net Operating Income (Loss):
Specialty Property & Casualty Insurance	$	(112.3)	$	(70.9)	$	(28.7)	$	(59.3)
Preferred Property & Casualty Insurance	(25.0)		(5.1)		(2.1)		(6.4)
Life & Health Insurance	33.4		23.1		12.6		2.8
Total Segment Net Operating Income (Loss)	(103.9)		(52.9)		(18.2)		(62.9)
Corporate and Other Net Operating Income (Loss) From:


Other	(26.4)		(35.1)		(12.3)		(12.9)
Total Corporate and Other Net Operating Income (Loss)	(26.4)		(35.1)		(12.3)		(12.9)
Adjusted Consolidated Net Operating Income (Loss)	(130.3)		(88.0)		(30.5)		(75.8)
Net Income (Loss) From:
Income (Loss) from Change in Fair Value of Equity and Convertible Securities	(63.1)		73.0		(8.8)		(0.5)
Net Realized Investment Gains (Losses)	0.3		34.0		(9.6)		7.9
Impairment Losses	(17.5)		(6.2)		(6.6)		(0.5)
Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs	(32.2)		(27.5)		(20.7)		(6.4)
Loss from Early Extinguishment of Debt	(2.9)		—		—		—
Net Income (Loss)	$	(245.7)	$	(14.7)	$	(76.2)	$	(75.3)