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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
The valuation of assets and liabilities measured at fair value in the Company’s Consolidated Balance Sheets at December 31, 2022 is summarized below. The Company has no material liabilities that are measured and reported at fair value.
DOLLARS IN MILLIONSFair Value MeasurementsTotal Fair Value
Quoted Prices
in Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Measured at Net Asset Value
Assets:
Fixed Maturities:
    U.S. Government and Government Agencies and Authorities$103.6 $424.4 $— $— $528.0 
    States and Political Subdivisions— 1,568.9 — — 1,568.9 
    Foreign Governments— 4.1 — — 4.1 
    Corporate Securities:
    Bonds and Notes— 3,323.4 216.0 — 3,539.4 
Redeemable Preferred Stocks— 1.2 6.8 — 8.0 
Collateralized Loan Obligations— 953.9 — — 953.9 
Other Mortgage- and Asset-backed
— 287.4 5.1 — 292.5 
    Total Investments in Fixed Maturities103.6 6,563.3 227.9 — 6,894.8 
Equity Securities at Fair Value:
Preferred Stocks:
Finance, Insurance and Real Estate
— 29.0 — — 29.0 
Other Industries— 9.2 1.6 — 10.8 
Common Stocks:
Finance, Insurance and Real Estate
0.9 — — — 0.9 
Other Industries0.3 0.4 0.5 — 1.2 
Other Equity Interests:
Exchange Traded Funds12.2 — — — 12.2 
Limited Liability Companies and Limited Partnerships
— — — 189.1 189.1 
Total Investments in Equity Securities at Fair Value
13.4 38.6 2.1 189.1 243.2 
     Convertible Securities at Fair Value— 43.3 — — 43.3 
Other Liabilities:
Derivative Instruments Not Designated as Hedges— 1.7 — — 1.7 
Total Assets$117.0 $6,646.9 $230.0 $189.1 $7,183.0 
Liabilities:
Accrued Expenses and Other Liabilities:
Derivative Instruments Designated as Cash Flow Hedges$— (0.4)$— $— $(0.4)
Total Liabilities$— $(0.4)$— $— $(0.4)
The valuation of assets measured at fair value in the Company’s Consolidated Balance Sheets at December 31, 2021 is summarized below.
DOLLARS IN MILLIONSFair Value MeasurementsTotal Fair Value
Quoted Prices
in Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Measured at Net Asset Value
Assets:
   Fixed Maturities:
   U.S. Government and Government Agencies and Authorities$132.8 $504.6 $— $— $637.4 
   States and Political Subdivisions— 1,890.1 — — 1,890.1 
   Foreign Governments— 5.5 — — 5.5 
   Corporate Securities:
   Bonds and Notes— 4,150.1 236.8 — 4,386.9 
   Redeemable Preferred Stocks— 1.3 6.1 — 7.4 
   Collateralized Loan Obligations— 752.1 — — 752.1 
   Other Mortgage- and Asset-backed— 300.5 7.0 — 307.5 
   Total Investments in Fixed Maturities132.8 7,604.2 249.9 — 7,986.9 
   Equity Securities at Fair Value:
   Preferred Stocks:
   Finance, Insurance and Real Estate— 34.2 — — 34.2 
   Other Industries— 16.1 1.5 — 17.6 
   Common Stocks:
   Finance, Insurance and Real Estate18.9 — — — 18.9 
   Other Industries2.9 — — — 2.9 
   Other Equity Interests:
   Exchange Traded Funds432.0 — — — 432.0 
   Limited Liability Companies and Limited Partnerships— — — 325.0 325.0 
   Total Investments in Equity Securities at Fair Value453.8 50.3 1.5 325.0 830.6 
Other Investments:
   Convertible Securities at Fair Value— 46.4 — — 46.4 
Total Assets$586.6 $7,700.9 $251.4 $325.0 $8,863.9 
Liabilities:
Accrued Expenses and Other Liabilities:
Derivative Instruments Designated as Cash Flow Hedges$— $— $— $— $— 
Total Liabilities$— $— $— $— $— 
Fair Value Inputs, Assets, Quantitative Information
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, 2022.
DOLLARS IN MILLIONSUnobservable InputTotal Fair ValueRange of Unobservable InputsWeighted-average Yield
Investment-grade Market Yield$56.5 4.6 %-14.5 %9.2 %
Non-investment-grade:
Senior DebtMarket Yield72.9 4.6 -36.7 10.9 
Junior DebtMarket Yield42.1 8.8 -22.5 15.1 
OtherVarious56.4 
Total Level 3 Fixed Maturity Investments$227.9 
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, 2021.
DOLLARS IN MILLIONSUnobservable InputTotal Fair ValueRange of Unobservable InputsWeighted-average Yield
Investment-grade Market Yield$87.9 2.3 %-10.3 %5.4 %
Non-investment-grade:
Senior DebtMarket Yield76.1 5.1 -20.2 8.5 
Junior DebtMarket Yield53.9 6.0 -27.5 15.0 
OtherVarious32.0 
Total Level 3 Fixed Maturity Investments$249.9 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the year ended December 31, 2022 is presented below.
DOLLARS IN MILLIONSFixed MaturitiesEquity Securities
Corporate
Bonds
and
Notes		Redeemable
Preferred
Stocks		Other Mortgage-
and Asset-
backed		Preferred
and
Common
Stocks		Total
Balance at Beginning of Year
$236.8 $6.1 $7.0 $1.5 $251.4 
Total Losses:
Included in Consolidated Statements of (Loss) Income (12.7)— — — (12.7)
Included in Other Comprehensive (Loss) Income (19.2)(1.3)(1.9)(0.2)(22.6)
Purchases107.8 2.0 — 2.7 112.5 
Settlements— — — — — 
Sales(114.1)— — (1.9)(116.0)
Transfers into Level 323.1 — — — 23.1 
Transfers out of Level 3(5.7)— — — (5.7)
Balance at End of Year$216.0 $6.8 $5.1 $2.1 $230.0 
Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the year ended December 31, 2021 is presented below.
DOLLARS IN MILLIONSFixed Maturities
Equity Securities
Total
Corporate
Bonds and
Notes		Redeemable
Preferred
Stocks		Collateralized Loan ObligationsOther Mortgage-
and Asset-
backed		Preferred
and
Common
Stocks
Balance at Beginning of Year$433.0 $6.2 $— $10.0 $— $449.2 
Total Gains (Losses):
Included in Consolidated Statements of (Loss) Income 2.8 — — — — 2.8 
Included in Other Comprehensive (Loss) Income 1.2 (0.1)0.1 (0.5)0.7 1.4 
Purchases104.6 — 17.7 16.2 1.7 140.2 
Settlements— — — (0.1)— (0.1)
Sales(128.1)— (10.0)(0.2)— (138.3)
Transfers into Level 38.1 — 10.0 — 1.7 19.8 
Transfers out of Level 3(184.8)— (17.8)(18.4)(2.6)(223.6)
Balance at End of Year$236.8 $6.1 $— $7.0 $1.5 $251.4 
Fair Value, by Balance Sheet Grouping
Presented below are the carrying values and fair value estimates of financial instruments not carried at fair value.
 December 31, 2022December 31, 2021
(Dollars in Millions)Carrying ValueFair ValueCarrying ValueFair Value
Financial Assets:
Loans to Policyholders$283.4 $283.4 $286.2 $286.2 
Short-term Investments278.4 278.4 284.1 284.1 
Mortgage Loans91.1 91.1 96.8 96.8 
Company-Owned Life Insurance586.5586.5448.1448.1
Equity Securities at Modified Cost38.438.432.332.3
Financial Liabilities:
Long-term Debt$1,386.9 $1,195.1 $1,121.9 $1,152.1 
Policyholder Obligations601.0 601.0 401.9 401.9 
Fair Value Disclosure of Asset and Liability Not Measured at Fair Value
The table below shows investments reported at fair value using NAV and their unfunded commitments by asset class as of December 31, 2022 and 2021, respectively.
Dollars in Millions
December 31, 2022
December 31, 2021
Asset ClassFair Value Using NAVUnfunded
Commitments		Fair Value Using NAVUnfunded
Commitments
Reported as Equity Method Limited Liability Investments:
Mezzanine Debt$114.3 $51.6 $120.0 $43.3 
Senior Debt21.6 42.0 27.5 46.7 
Distressed Debt9.4 — 21.7 100.1 
Secondary Transactions9.3 1.7 11.7 8.3 
Hedge Fund0.5 — 8.7 — 
Leveraged Buyout8.9 0.6 8.7 0.1 
Growth Equity1.2 — 0.7 — 
Real Estate43.3 — 29.9 — 
Other8.5 — 13.0 — 
Total Equity Method Limited Liability Investments217.0 95.9 241.9 198.5 
Reported as Other Equity Interests at Fair Value:
Mezzanine Debt106.0 56.0 129.3 53.7 
Senior Debt21.9 6.0 29.9 15.1 
Distressed Debt12.5 13.0 44.9 20.0 
Secondary Transactions3.5 4.2 4.0 6.8 
Hedge Funds18.1 — 82.7 — 
Leveraged Buyout21.6 9.0 32.2 6.0 
Growth Equity5.4 7.9 2.0 0.7 
Other0.1 0.2 — — 
Total Reported as Other Equity Interests at Fair Value189.1 96.3 325.0 102.3 
Reported as Equity Securities at Modified Cost:
Other8.3 — 7.7 — 
Total Reported as Equity Securities at Modified Cost
8.3 — 7.7 — 
     Total Investments in Limited Liability Companies and Limited Partnerships$414.4 $192.2 $574.6 $300.8 
Investment Holdings, Other than Securities
The following table includes information related to the Company’s investments in certain private equity funds or hedge funds that calculate a net asset value per share:

Asset ClassInvestment Category Includes
Mezzanine DebtFunds with investments in junior or subordinated debt and potentially minority equity securities issued by private companies.
Senior DebtFunds with investments in senior or first lien debt and potentially minority equity securities typically issued by private companies.
Distressed DebtFunds with debt or minority equity investments that are made opportunistically in companies that are in or near default or under financial strain with potential to have an active role in restructuring company.
Secondary TransactionsFunds that focus on purchasing third party fund interests from investors seeking liquidity within their own portfolio.
Hedge FundFunds that focus primarily on investing in public securities with strategy of generating uncorrelated returns to the public markets.
Leveraged BuyoutFunds with control equity investments in more mature, positive cash flowing, private companies that are typically purchased with the use of financial leverage.
Growth EquityFunds that invest in early or venture stage companies with high growth potential with view towards generating realizations through sale or initial public offering (“IPO”) of company.
Real EstateFunds with investments in multi-family housing properties.
OtherConsists of direct investments of preferred equity or minority common equity investments into private companies structured as limited partnerships or limited liability companies.