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Investments (Tables)
 12 Months Ended
Dec. 31, 2018
Investments [Abstract]  
Cost or Amortized Cost and Fair Value of Available-for-Sale Securities
The following tables set forth the cost or amortized cost and fair value of investments by lot at December 31, 2018 and 2017: 
($ millions)
Cost or
amortized
cost
Gross
unrealized
holding
gains
Gross
unrealized
holding
losses
Fair
value
December 31, 2018
Available-for-sale fixed maturities:
U.S. treasury securities and obligations of U.S. government agencies$438.4 $3.2 $(9.2)$432.4 
Obligations of states and political subdivisions408.2 7.3 (0.9)414.6 
Corporate securities551.7 0.6 (11.7)540.6 
U.S. government agencies mortgage-backed securities789.9 3.3 (21.3)771.9 
Total available-for-sale fixed maturities$2,188.2 $14.4 $(43.1)$2,159.5 

($ millions)
Cost or
amortized
cost
Gross
unrealized
holding
gains
Gross
unrealized
holding
losses
Fair
value
December 31, 2017
Fixed maturities:
U.S. treasury securities and obligations of U.S. government agencies$433.8 $9.3 $(6.2)$436.9 
Obligations of states and political subdivisions507.1 19.1 (0.4)525.8 
Corporate securities527.5 4.5 (2.3)529.7 
U.S. government agencies mortgage-backed securities704.7 7.1 (11.4)700.4 
Total fixed maturities2,173.1 40.0 (20.3)2,192.8 
Equity securities:
Large-cap securities62.4 35.1 (0.7)96.8 
Mutual and exchange traded funds256.2 21.6 (9.3)268.5 
Total equity securities318.6 56.7 (10.0)365.3 
Other invested assets25.8 30.2 — 56.0 
Total available-for-sale securities$2,517.5 $126.9 $(30.3)$2,614.1 
Gross Unrealized Losses and Fair Value on its Investments
The following tables set forth the Company’s gross unrealized losses and fair value on its investments by lot, aggregated by investment category and length of time for individual securities that have been in a continuous unrealized loss position at December 31, 2018 and 2017: 
($ millions, except # of positions)Less than 12 months12 months or moreTotal
December 31, 2018
Fair
value
Unrealized
losses
Number
of
positions
Fair
value
Unrealized
losses
Number
of
positions
Fair
value
Unrealized
losses
Number
of
positions
Fixed maturities:
U.S. treasury securities and obligations of U.S. government agencies$83.1 $(1.8)7 $259.6 $(7.4)35 $342.7 $(9.2)42 
Obligations of states and political subdivisions63.6 (0.5)7 39.6 (0.4)8 103.2 (0.9)15 
Corporate securities244.0 (3.0)31 189.5 (8.7)30 433.5 (11.7)61 
U.S. government agencies mortgage-backed securities169.5 (2.8)18 385.5 (18.5)70 555.0 (21.3)88 
Total fixed maturities$560.2 $(8.1)63 $874.2 $(35.0)143 $1,434.4 $(43.1)206 
($ millions, except # of positions)Less than 12 months12 months or moreTotal
December 31, 2017
Fair
value
Unrealized
losses
Number
of
positions
Fair
value
Unrealized
losses
Number
of
positions
Fair
value
Unrealized
losses
Number
of
positions
Fixed maturities:
U.S. treasury securities and obligations of U.S. government agencies$102.4 $(0.6)18 $196.1 $(5.6)22 $298.5 $(6.2)40 
Obligations of states and political subdivisions58.6 (0.4)10 — — — 58.6 (0.4)10 
Corporate securities153.2 (1.3)23 67.3 (1.0)10 220.5 (2.3)33 
U.S. government agencies mortgage-backed securities188.6 (2.9)31 252.2 (8.5)41 440.8 (11.4)72 
Total fixed maturities502.8 (5.2)82 515.6 (15.1)73 1,018.4 (20.3)155 
Large-cap equity securities4.4 (0.7)4 — — — 4.4 (0.7)4 
Mutual and exchange traded funds66.9 (9.3)1 — — — 66.9 (9.3)1 
Total equity securities71.3 (10.0)5 — — — 71.3 (10.0)5 
Total temporarily impaired securities$574.1 $(15.2)87 $515.6 $(15.1)73 $1,089.7 $(30.3)160 
Realized Losses Related to Other-Than-Temporary Impairments The following table sets forth the realized losses related to other-than-temporary impairments on the Company’s investment portfolio recognized for the years ended December 31, 2017 and 2016:
($ millions)201820172016
Equity securities:
Large-cap securities$— $(1.5)$(0.6)
Small-cap securities— (2.0)(3.9)
Fixed maturities— — (2.3)
Total other-than-temporary impairments$— $(3.5)$(6.8)
Amortized Cost and Fair Value of Available-for-Sale Fixed Maturities by Contractual Maturity
The following table sets forth the amortized cost and fair value of available-for-sale fixed maturities by contractual maturity at December 31, 2018:
($ millions)
Amortized
cost
Fair
value
Due in 1 year or less$165.0 $164.3 
Due after 1 year through 5 years653.8 641.6 
Due after 5 years through 10 years208.9 208.6 
Due after 10 years370.6 373.1 
U.S. government agencies mortgage-backed securities789.9 771.9 
Total$2,188.2 $2,159.5 
Components of Net Investment Income
The following table sets forth the components of net investment income for the years ended December 31, 2018, 2017 and 2016:
($ millions)201820172016
Fixed maturities$65.3 $63.2 $63.4 
Equity securities13.4 10.5 7.3 
Cash and cash equivalents, and other7.2 6.3 5.6 
Investment income85.9 80.0 76.3 
Investment expenses1.0 1.2 1.6 
Net investment income$84.9 $78.8 $74.7 
Realized and Unrealized Holding Gains (Losses)
The following table sets forth the realized and unrealized holding gains (losses) on the Company’s investment portfolio for the years ended December 31, 2018, 2017 and 2016:
($ millions)201820172016
Realized gains:
Fixed maturities$2.0 $2.8 $2.8 
Equity securities6.6 66.7 29.2 
Other invested assets— 0.2 12.1 
Total realized gains8.6 69.7 44.1 
Realized losses:
Equity securities:
Sales(0.9)(1.1)(0.8)
OTTI— (3.5)(4.5)
Fixed maturities:
OTTI— — (2.3)
Total realized losses(0.9)(4.6)(7.6)
Net realized gains on investments$7.7 $65.1 $36.5 
Net unrealized loss on investments (1)
Equity securities(49.7)— — 
Other invested assets(7.7)— — 
Net unrealized loss on investments(57.4)— — 
Net investment (loss) gain$(49.7)$65.1 $36.5 
Change in unrealized holding (losses) gains, net of tax:
Fixed maturities$(48.4)$6.3 $(14.4)
Equity securities— (13.0)14.3 
Other invested assets— 10.6 (8.6)
Deferred federal income tax10.1 (0.7)3.0 
Change in unrealized holding (losses) gains, net of tax$(38.3)$3.2 $(5.7)
(1) Unrealized holding losses recognized during the period on securities held at the reporting date