YEARS ENDED DECEMBER 31

2022

2021

2020

(in millions)

Operating revenues:

Core Commercial

$

2,090.7

$

1,960.7

$

1,832.2

Specialty

1,256.5

1,099.2

1,036.1

Personal Lines

2,213.7

2,028.5

1,931.4

Other

14.2

16.4

20.1

Total

5,575.1

5,104.8

4,819.8

Net realized and unrealized investment gains (losses)

(106.5

)

123.0

5.0

Total revenues

$

5,468.6

$

5,227.8

$

4,824.8

Operating income (loss) before interest expense and income taxes:

Core Commercial:

Underwriting income (loss)

$

(28.7

)

$

(7.5

)

$

57.5

Net investment income

136.2

146.5

124.2

Other expense

(0.6

)

(1.0

)

(3.6

)

Core Commercial operating income

106.9

138.0

178.1

Specialty:

Underwriting income

124.7

69.4

48.8

Net investment income

62.1

62.9

51.1

Other expense

(0.8

)

(0.4

)

(2.6

)

Specialty operating income

186.0

131.9

97.3

Personal Lines:

Underwriting income (loss)

(104.2

)

65.1

132.9

Net investment income

86.8

89.4

76.7

Other income

8.6

4.0

2.9

Personal Lines operating income (loss)

(8.8

)

158.5

212.5

Other:

Underwriting loss

(1.2

)

(1.0

)

(4.3

)

Net investment income

11.2

11.9

13.1

Other expense

(9.0

)

(7.0

)

(12.0

)

Other operating income (loss)

1.0

3.9

(3.2

)

Operating income before interest expense and income taxes

285.1

432.3

484.7

Interest on debt

(34.1

)

(34.0

)

(37.1

)

Operating income before income taxes

251.0

398.3

447.6

Non-operating income (loss) items:

Net realized and unrealized investment gains (losses)

(106.5

)

123.0

5.0

Net loss from repayment of debt

—

—

(6.2

)

Other non-operating items

(0.5

)

—

(1.6

)

Income from continuing operations before income taxes

$

144.0

$

521.3

$

444.8