Income from Investments (Tables)

12 Months Ended

Dec. 31, 2022

Investment Income, Net [Abstract]

Net Investment Income

Net Investment Income for the years ended December 31, 2022, 2021 and 2020 was:

DOLLARS IN MILLIONS	2022		2021		2020
Investment Income:
Interest on Fixed Income Securities	$	300.1	$	277.7	$	289.8
Dividends on Equity Securities Excluding Alternative Investments	6.3		15.9		15.4
Alternative Investments:
Equity Method Limited Liability Investments	31.3		56.7		4.9
Limited Liability Investments Included in Equity Securities	42.1		46.9		22.1
Total Alternative Investments	73.4		103.6		27.0
Short-term Investments	3.7		1.0		5.5
Loans to Policyholders	21.5		21.7		22.1
Real Estate	10.1		9.3		9.6
Company-Owned Life Insurance	37.9		25.7		12.9
Other	7.7		6.7		0.3
Total Investment Income	460.7		461.6		382.6
Investment Expenses:
Real Estate	7.9		9.7		8.8
Other Investment Expenses	30.2		24.6		25.6
Total Investment Expenses	38.1		34.3		34.4
Net Investment Income	$	422.6	$	427.3	$	348.2

Other Receivables includes accrued investment income of $94.3 million and $79.6 million at December 31, 2022 and 2021, respectively.

Realized Gain (Loss) on Investments

The components of Net Realized Gains on Sales of Investments for the years ended December 31, 2022, 2021 and 2020 were:

DOLLARS IN MILLIONS	2022		2021		2020
Fixed Maturities:
Gains on Sales	$	31.6	$	63.4	$	40.6
Losses on Sales	(31.9)		(2.1)		(7.9)
Gains on Hedging Activity	1.7		—		—
Equity Securities:
Gains on Sales	9.7		4.1		5.9
Losses on Sales	(6.8)		(0.7)		(1.9)
Equity Method Limited Liability Investments:
Gains on Sales	—		0.4		—
Losses on Sales	—		—		(0.4)
Real Estate:
Gains on Sales	—		0.1		1.8
Losses on Sales	—		(0.4)		—
Net Realized Investment Gains	$	4.3	$	64.8	$	38.1
Gross Gains on Sales	$	41.3	$	68.0	$	48.3
Gross Losses on Sales	(38.7)		(3.2)		(10.2)
Gains on Hedging Activity	1.7		—		—
Net Realized Investment Gains	$	4.3	$	64.8	$	38.1

Other than Temporary Impairment, Credit Losses Recognized in Earnings

The components of Impairment Losses reported in the Consolidated Statements of (Loss) Income for the years ended December 31, 2022, 2021 and 2020 were:

DOLLARS IN MILLIONS	2022		2021		2020
Fixed Maturities	$	(25.8)	$	(6.4)	$	(16.7)
Equity Securities	—		(4.2)		(2.8)
Real Estate	—		(0.4)		—
Net Impairment Losses Recognized in Earnings	$	(25.8)	$	(11.0)	$	(19.5)