falsedesktopKMPR2020-12-31000086074821000039{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "DE\t\t95-4255452\n(State or other jurisdiction of incorporation or organization)\t\t(I.R.S. Employer Identification No.)\n200 E. Randolph Street\t\t\nSuite 3300\t\t\nChicago\tIL\t60601\n(Address of principal executive offices)\t\t(Zip Code)\n", "q10k_tbl_1": "Large accelerated filer\t☒\tAccelerated filer\t☐\tNon-accelerated filer\t☐\nSmaller reporting company\t☐\tEmerging growth company\t☐\t\t\n", "q10k_tbl_2": "Caution Regarding Forward-Looking Statements\t\t1\n\tPart I\t\nItem 1.\tBusiness\t4\nItem 1A.\tRisk Factors\t15\nItem 1B.\tUnresolved Staff Comments\t23\nItem 2.\tProperties\t23\nItem 3.\tLegal Proceedings\t23\nItem 4.\tMine Safety Disclosures\t23\n\tPart II\t\nItem 5.\tMarket for Registrant's Common Equity Related Stockholder Matters and Issuer Purchases of Equity Securities\t24\nItem 6.\tSelected Financial Data\t26\nItem 7.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t27\nItem 7A.\tQuantitative and Qualitative Disclosures About Market Risk\t67\nItem 8.\tFinancial Statements and Supplementary Data\t69\nItem 9.\tChanges in and Disagreements with Accountants on Accounting and Financial Disclosure\t139\nItem 9A.\tControls and Procedures\t139\nItem 9B.\tOther Information\t140\n\tPart III\t\nItem 10.\tDirectors Executive Officers and Corporate Governance\t141\nItem 11.\tExecutive Compensation\t141\nItem 12.\tSecurity Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters\t141\nItem 13.\tCertain Relationships and Related Transactions and Director Independence\t142\nItem 14.\tPrincipal Accounting Fees and Services\t142\n\tPart IV\t\nItem 15.\tExhibits Financial Statement Schedules\t143\nItem 16.\tForm 10-K Summary\t143\nExhibit Index\t\t144\nPower of Attorney\t\t148\nSignatures\t\t148\nFinancial Statement Schedules:\t\t\nSchedule 1 - Investments Other than Investments in Related Parties\t\tSCH I-1\nSchedule 2 - Parent Company Financial Statements\t\tSCH II-1\nSchedule 3 - Supplementary Insurance Information\t\tSCH III-1\nSchedule 4 - Reinsurance Schedule\t\tSCH IV-1\n", "q10k_tbl_3": "DOLLARS IN MILLIONS\t2020\t2019\nBusiness Segments:\t\t\nSpecialty Property & Casualty Insurance\t1544.8\t1551.0\nPreferred Property & Casualty Insurance\t411.6\t388.5\nLife & Health Insurance\t4.6\t3.3\nTotal Business Segments\t1961.0\t1942.8\nUnallocated Reserves\t21.5\t27.0\nTotal Property & Casualty Insurance Reserves\t1982.5\t1969.8\n", "q10k_tbl_4": "\tCatastrophe Losses and LAE\t\tCombined Percentage of Coverage\nDOLLARS IN MILLIONS\tIn Excess of\tUp to\nRetained\t0\t50.0\t-%\n1st Layer of Coverage\t50.0\t150.0\t95.0\n2nd Layer of Coverage\t150.0\t250.0\t95.0\n3rd Layer of Coverage\t250.0\t275.0\t95.0\n", "q10k_tbl_5": "DOLLARS PER SHARE\tThree Months Ended\t\t\t\tYear Ended\nMar 31 2020\tJun 30 2020\tSep 30 2020\tDec 31 2020\tDec 31 2020\nCash Dividends Paid to Shareholders (per share)\t0.30\t0.30\t0.30\t0.30\t1.20\n\tThree Months Ended\t\t\t\tYear Ended\nDOLLARS PER SHARE\tMar 31 2019\tJun 30 2019\tSep 30 2019\tDec 31 2019\tDec 31 2019\nCash Dividends Paid to Shareholders (per share)\t0.25\t0.25\t0.25\t0.28\t1.03\n", "q10k_tbl_6": "Company / Index\t2015\t2016\t2017\t2018\t2019\t2020\nKemper Corporation\t100.00\t122.61\t194.62\t190.14\t224.92\t226.82\nS&P MidCap 400 Index\t100.00\t120.74\t140.35\t124.80\t157.49\t179.00\nS&P Supercomposite Insurance Index\t100.00\t118.87\t137.87\t124.55\t160.08\t158.01\n", "q10k_tbl_7": "DOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS\t2020\t2019\t2018\t2017\t2016\nFOR THE YEAR\t\t\t\t\t\nEarned Premiums\t4672.2\t4472.4\t3384.4\t2350.0\t2220.0\nNet Investment Income\t348.2\t364.3\t340.9\t327.2\t298.3\nOther Income\t94.6\t35.5\t42.2\t4.0\t3.2\nIncome (Loss) from Change in Fair value of Equity and Convertible Securities\t72.1\t138.9\t(64.3)\t0\t0\nNet Realized Gains on Sales of Investments\t38.1\t41.9\t26.4\t56.5\t33.1\nImpairment Losses\t(19.5)\t(13.8)\t(4.5)\t(14.3)\t(32.7)\nTotal Revenues\t5205.7\t5039.2\t3725.1\t2723.4\t2521.9\nIncome from Continuing Operations\t409.9\t531.1\t188.4\t119.9\t12.7\nIncome from Discontinued Operations\t0\t0\t1.7\t1.0\t4.1\nNet Income\t409.9\t531.1\t190.1\t120.9\t16.8\nPer Unrestricted Share:\t\t\t\t\t\nIncome from Continuing Operations\t6.24\t8.04\t3.22\t2.32\t0.25\nIncome from Discontinued Operations\t0\t0\t0.03\t0.02\t0.08\nNet Income\t6.24\t8.04\t3.25\t2.34\t0.33\nPer Unrestricted Share Assuming Dilution:\t\t\t\t\t\nIncome from Continuing Operations\t6.14\t7.96\t3.19\t2.31\t0.25\nIncome from Discontinued Operations\t0\t0\t0.03\t0.02\t0.08\nNet Income\t6.14\t7.96\t3.22\t2.33\t0.33\nDividends Paid to Shareholders Per Share\t1.20\t1.03\t0.96\t0.96\t0.96\nAT YEAR END\t\t\t\t\t\nTotal Assets\t14341.9\t12989.1\t11544.9\t8376.2\t8210.5\nInsurance Reserves\t5510.0\t5471.8\t5366.8\t4470.8\t4339.9\nUnearned Premiums\t1615.1\t1545.5\t1424.3\t653.9\t618.7\nPolicyholder Obligations\t467.0\t309.8\t76.8\t67.0\t66.8\nLong-term Debt Current and Non-current\t1172.8\t778.4\t909.0\t592.3\t751.6\nAll Other Liabilities\t1013.6\t911.3\t717.9\t476.6\t458.3\nTotal Liabilities\t9778.5\t9016.8\t8494.8\t6260.6\t6235.3\nShareholders' Equity\t4563.4\t3972.3\t3050.1\t2115.6\t1975.2\nTotal Liabilities and Shareholders' Equity\t14341.9\t12989.1\t11544.9\t8376.2\t8210.5\nBook Value Per Share\t69.74\t59.59\t47.10\t41.11\t38.52\n", "q10k_tbl_8": "Summary of Results\t28\nCatastrophes\t31\nLoss and LAE Reserve Development\t33\nNon-GAAP Financial Measures\t33\nSpecialty Property & Casualty Insurance\t35\nPreferred Property & Casualty Insurance\t40\nLife & Health Insurance\t46\nInvestment Results\t50\nInvestment Quality and Concentrations\t52\nInvestments in Limited Liability Companies and Limited Partnerships\t55\nExpenses\t56\nIncome Taxes\t57\nLiquidity and Capital Resources\t57\nContractual Obligations\t61\nCritical Accounting Estimates\t61\nOff-Balance Sheet Arrangements\t66\nRecently Issued Accounting Pronouncements\t67\n", "q10k_tbl_9": "DOLLARS IN MILLIONS\t2020\t2019\tIncrease (Decrease) in Income from 2019 to 2020\t2018\tIncrease (Decrease) in Income from 2018 to 2019\nNet Income\t409.9\t531.1\t(121.2)\t190.1\t341.0\nIncome from Discontinued Operations\t0\t0\t0\t1.7\t(1.7)\nIncome from Continuing Operations\t409.9\t531.1\t(121.2)\t188.4\t342.7\nLess:\t\t\t\t\t\nIncome (Loss) from Change in Fair Value of Equity and Convertible Securities\t57.0\t109.7\t(52.7)\t(50.8)\t160.5\nNet Realized Gains on Sales of Investments\t30.1\t33.1\t(3.0)\t20.9\t12.2\nImpairment Losses\t(15.4)\t(10.9)\t(4.5)\t(3.6)\t(7.3)\nAcquisition Related Transaction Integration and Other Costs\t(50.0)\t(14.5)\t(35.5)\t(36.5)\t22.0\nDebt Extinguishment Pension and Other Charges\t(50.6)\t(4.6)\t(46.0)\t0\t(4.6)\nAdjusted Consolidated Net Operating Income\t438.8\t418.3\t20.5\t258.4\t159.9\nComponents of Adjusted Consolidated Net Operating Income:\t\t\t\t\t\nSegment Net Operating Income:\t\t\t\t\t\nSpecialty Property & Casualty Insurance\t337.9\t283.1\t54.8\t115.8\t167.3\nPreferred Property & Casualty Insurance\t3.5\t41.9\t(38.4)\t25.7\t16.2\nLife & Health Insurance\t60.0\t98.7\t(38.7)\t91.5\t7.2\nSegment Net Operating Income\t401.4\t423.7\t(22.3)\t233.0\t190.7\nCorporate and Other Net Operating Income (Loss) From:\t\t\t\t\t\nEffects of Tax Law Changes\t0\t0\t0\t26.4\t(26.4)\nPartial Satisfaction of Judgment\t70.6\t15.9\t54.7\t28.2\t(12.3)\nOther\t(33.2)\t(21.3)\t(11.9)\t(29.2)\t7.9\nCorporate and Other Net Operating Income (Loss)\t37.4\t(5.4)\t42.8\t25.4\t(30.8)\nAdjusted Consolidated Net Operating Income\t438.8\t418.3\t20.5\t258.4\t159.9\n", "q10k_tbl_10": "\tYear Ended\t\t\t\t\t\n\tDec 31 2020\t\tDec 31 2019\t\tDec 31 2018\t\nDOLLARS IN MILLIONS\tNumber of Events\tLosses and LAE\tNumber of Events\tLosses and LAE\tNumber of Events\tLosses and LAE\nRange of Losses and LAE Per Event:\t\t\t\t\t\t\nBelow $5\t60\t51.2\t56\t42.4\t45\t34.7\n5 - $10\t5\t40.2\t3\t20.8\t4\t27.6\n10 - $15\t0\t0\t1\t14.0\t0\t0\n15 - $20\t1\t15.3\t0\t0\t0\t0\n20 - $25\t0\t0\t0\t0\t0\t0\nGreater Than $25\t0\t0\t0\t0\t1\t33.7\nTotal\t66\t106.7\t60\t77.2\t50\t96.0\nSpecialty Property & Casualty Insurance\t\t12.3\t\t11.1\t\t4.7\nPreferred Property & Casualty Insurance\t\t82.0\t\t63.0\t\t87.3\nLife & Health Insurance\t\t12.4\t\t3.1\t\t4.0\nTotal Catastrophe Losses and LAE\t\t106.7\t\t77.2\t\t96.0\n", "q10k_tbl_11": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nIncrease (Decrease) in Total Loss and LAE Reserves Related to Prior Years:\t\t\t\nNon-catastrophe\t36.2\t(54.0)\t1.0\nCatastrophe\t0.2\t(17.1)\t(8.4)\nIncrease (Decrease) in Total Loss and LAE Reserves Related to Prior Years\t36.4\t(71.1)\t(7.4)\n", "q10k_tbl_12": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nNet Premiums Written\t3435.5\t3211.3\t2067.4\nEarned Premiums\t3335.3\t3078.4\t2027.4\nNet Investment Income\t114.1\t107.5\t63.4\nOther Income\t1.8\t7.0\t2.4\nTotal Revenues\t3451.2\t3192.9\t2093.2\nIncurred Losses and LAE related to:\t\t\t\nCurrent Year:\t\t\t\nNon-catastrophe Losses and LAE\t2350.8\t2302.4\t1517.4\nCatastrophe Losses and LAE\t12.3\t11.1\t4.7\nPrior Years:\t\t\t\nNon-catastrophe Losses and LAE\t15.1\t(35.1)\t2.0\nCatastrophe Losses and LAE\t0.2\t0.5\t(0.3)\nTotal Incurred Losses and LAE\t2378.4\t2278.9\t1523.8\nInsurance Expenses\t651.9\t555.6\t421.7\nOther Expenses\t0\t2.5\t2.1\nOperating Profit\t420.9\t355.9\t145.6\nIncome Tax Expense\t(83.0)\t(72.8)\t(29.8)\nSegment Net Operating Income\t337.9\t283.1\t115.8\nRatios Based On Earned Premiums\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t70.4%\t74.7%\t74.9%\nCurrent Year Catastrophe Losses and LAE Ratio\t0.4\t0.4\t0.2\nPrior Years Non-catastrophe Losses and LAE Ratio\t0.5\t(1.1)\t0.1\nPrior Years Catastrophe Losses and LAE Ratio\t0\t0\t0\nTotal Incurred Loss and LAE Ratio\t71.3\t74.0\t75.2\nInsurance Expense Ratio\t19.5\t18.0\t20.8\nCombined Ratio\t90.8%\t92.0%\t96.0%\nUnderlying Combined Ratio\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t70.4%\t74.7%\t74.9%\nInsurance Expense Ratio\t19.5\t18.0\t20.8\nUnderlying Combined Ratio\t89.9%\t92.7%\t95.7%\nNon-GAAP Measure Reconciliation\t\t\t\nCombined Ratio\t90.8%\t92.0%\t96.0%\nLess:\t\t\t\nCurrent Year Catastrophe Losses and LAE Ratio\t0.4\t0.4\t0.2\nPrior Years Non-catastrophe Losses and LAE Ratio\t0.5\t(1.1)\t0.1\nPrior Years Catastrophe Losses and LAE Ratio\t0\t0\t0\nUnderlying Combined Ratio\t89.9%\t92.7%\t95.7%\n", "q10k_tbl_13": "DOLLARS IN MILLIONS\tDec 31 2020\tDec 31 2019\nInsurance Reserves:\t\t\nNon-Standard Automobile\t1308.3\t1321.9\nCommercial Automobile\t236.5\t229.1\nTotal Insurance Reserves\t1544.8\t1551.0\nInsurance Reserves:\t\t\nLoss and Allocated LAE Reserves:\t\t\nCase and Allocated LAE\t744.6\t730.0\nIncurred But Not Reported\t653.6\t672.2\nTotal Loss and LAE Reserves\t1398.2\t1402.2\nUnallocated LAE Reserves\t146.6\t148.8\nTotal Insurance Reserves\t1544.8\t1551.0\n", "q10k_tbl_14": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nNet Premiums Written\t3086.5\t2941.1\t1927.9\nEarned Premiums\t3031.3\t2825.6\t1889.5\nIncurred Losses and LAE related to:\t\t\t\nCurrent Year:\t\t\t\nNon-catastrophe Losses and LAE\t2160.9\t2131.5\t1418.2\nCatastrophe Losses and LAE\t11.6\t9.9\t3.9\nPrior Years:\t\t\t\nNon-catastrophe Losses and LAE\t28.0\t(24.3)\t5.7\nCatastrophe Losses and LAE\t0.2\t0.5\t(0.2)\nTotal Incurred Losses and LAE\t2200.7\t2117.6\t1427.6\nRatios Based On Earned Premiums\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t71.3%\t75.4%\t75.1%\nCurrent Year Catastrophe Losses and LAE Ratio\t0.4\t0.4\t0.2\nPrior Years Non-catastrophe Losses and LAE Ratio\t0.9\t(0.9)\t0.3\nPrior Years Catastrophe Losses and LAE Ratio\t0\t0\t0\nTotal Incurred Loss and LAE Ratio\t72.6%\t74.9%\t75.6%\n", "q10k_tbl_15": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nNet Premiums Written\t349.0\t270.2\t139.5\nEarned Premiums\t304.0\t252.8\t137.9\nIncurred Losses and LAE related to:\t\t\t\nCurrent Year:\t\t\t\nNon-catastrophe Losses and LAE\t189.9\t170.9\t99.2\nCatastrophe Losses and LAE\t0.7\t1.2\t0.8\nPrior Years:\t\t\t\nNon-catastrophe Losses and LAE\t(12.9)\t(10.8)\t(3.7)\nCatastrophe Losses and LAE\t0\t0\t(0.1)\nTotal Incurred Losses and LAE\t177.7\t161.3\t96.2\nRatios Based On Earned Premiums\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t62.5%\t67.6%\t72.0%\nCurrent Year Catastrophe Losses and LAE Ratio\t0.2\t0.5\t0.6\nPrior Years Non-catastrophe Losses and LAE Ratio\t(4.2)\t(4.3)\t(2.7)\nPrior Years Catastrophe Losses and LAE Ratio\t0\t0\t(0.1)\nTotal Incurred Loss and LAE Ratio\t58.5%\t63.8%\t69.8%\n", "q10k_tbl_16": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nNet Premiums Written\t653.0\t739.3\t748.8\nEarned Premiums\t688.2\t750.3\t730.7\nNet Investment Income\t37.7\t44.1\t61.8\nOther Income\t0.1\t0\t0\nTotal Revenues\t726.0\t794.4\t792.5\nIncurred Losses and LAE related to:\t\t\t\nCurrent Year:\t\t\t\nNon-catastrophe Losses and LAE\t400.9\t481.8\t459.4\nCatastrophe Losses and LAE\t82.0\t63.0\t87.3\nPrior Years:\t\t\t\nNon-catastrophe Losses and LAE\t20.7\t(17.6)\t(0.1)\nCatastrophe Losses and LAE\t(0.5)\t(18.4)\t(8.2)\nTotal Incurred Losses and LAE\t503.1\t508.8\t538.4\nInsurance Expenses\t221.1\t233.3\t225.5\nOperating Profit (Loss)\t1.8\t52.3\t28.6\nIncome Tax Benefit (Expense)\t1.7\t(10.4)\t(2.9)\nSegment Net Operating Income (Loss)\t3.5\t41.9\t25.7\nRatios Based On Earned Premiums\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t58.3%\t64.2%\t62.9%\nCurrent Year Catastrophe Losses and LAE Ratio\t11.9\t8.4\t11.9\nPrior Years Non-catastrophe Losses and LAE Ratio\t3.0\t(2.3)\t0\nPrior Years Catastrophe Losses and LAE Ratio\t(0.1)\t(2.5)\t(1.1)\nTotal Incurred Loss and LAE Ratio\t73.1\t67.8\t73.7\nInsurance Expense Ratio\t32.1\t31.1\t30.9\nCombined Ratio\t105.2%\t98.9%\t104.6%\nUnderlying Combined Ratio\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t58.3%\t64.2%\t62.9%\nInsurance Expense Ratio\t32.1\t31.1\t30.9\nUnderlying Combined Ratio\t90.4%\t95.3%\t93.8%\nNon-GAAP Measure Reconciliation\t\t\t\nCombined Ratio\t105.2%\t98.9%\t104.6%\nLess:\t\t\t\nCurrent Year Catastrophe Losses and LAE Ratio\t11.9\t8.4\t11.9\nPrior Years Non-catastrophe Losses and LAE Ratio\t3.0\t(2.3)\t0\nPrior Years Catastrophe Losses and LAE Ratio\t(0.1)\t(2.5)\t(1.1)\nUnderlying Combined Ratio\t90.4%\t95.3%\t93.8%\n", "q10k_tbl_17": "\tDec 31 2020\t\tDec 31 2019\t\nDOLLARS IN MILLIONS\tNumber of Events\tLosses and LAE\tNumber of Events\tLosses and LAE\nRange of Losses and LAE Per Event:\t\t\t\t\nBelow $5\t48\t42.0\t53\t30.9\n5 - $10\t5\t40.0\t3\t19.0\n10 - $15\t0\t0\t1\t13.1\n15 - $20\t0\t0\t0\t0\n20 - $25\t0\t0\t0\t0\nGreater Than $25\t0\t0\t0\t0\nTotal\t53\t82.0\t57\t63.0\n", "q10k_tbl_18": "DOLLARS IN MILLIONS\tDec 31 2020\tDec 31 2019\nInsurance Reserves:\t\t\nPreferred Automobile\t281.3\t262.3\nHomeowners\t104.0\t95.3\nOther\t26.3\t30.9\nTotal Insurance Reserves\t411.6\t388.5\nInsurance Reserves:\t\t\nLoss and Allocated LAE Reserves:\t\t\nCase and Allocated LAE\t262.2\t241.3\nIncurred But Not Reported\t122.0\t118.8\nTotal Loss and LAE Reserves\t384.2\t360.1\nUnallocated LAE Reserves\t27.4\t28.4\nTotal Insurance Reserves\t411.6\t388.5\n", "q10k_tbl_19": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nNet Premiums Written\t407.5\t468.9\t462.1\nEarned Premiums\t431.7\t470.2\t440.2\nIncurred Losses and LAE related to:\t\t\t\nCurrent Year:\t\t\t\nNon-catastrophe Losses and LAE\t279.9\t332.5\t308.8\nCatastrophe Losses and LAE\t4.4\t7.8\t7.2\nPrior Years:\t\t\t\nNon-catastrophe Losses and LAE\t27.7\t(8.2)\t(5.7)\nCatastrophe Losses and LAE\t(1.0)\t0\t(0.1)\nTotal Incurred Losses and LAE\t311.0\t332.1\t310.2\nRatios Based On Earned Premiums\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t64.8%\t70.6%\t70.2%\nCurrent Year Catastrophe Losses and LAE Ratio\t1.0\t1.7\t1.6\nPrior Years Non-catastrophe Losses and LAE Ratio\t6.4\t(1.7)\t(1.3)\nPrior Years Catastrophe Losses and LAE Ratio\t(0.2)\t0\t0\nTotal Incurred Loss and LAE Ratio\t72.0%\t70.6%\t70.5%\n", "q10k_tbl_20": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nNet Premiums Written\t211.1\t233.1\t247.3\nEarned Premiums\t220.7\t241.3\t250.1\nIncurred Losses and LAE related to:\t\t\t\nCurrent Year:\t\t\t\nNon-catastrophe Losses and LAE\t108.7\t131.6\t131.5\nCatastrophe Losses and LAE\t71.2\t54.0\t75.2\nPrior Years:\t\t\t\nNon-catastrophe Losses and LAE\t(2.8)\t(2.7)\t10.4\nCatastrophe Losses and LAE\t0.7\t(17.0)\t(7.2)\nTotal Incurred Losses and LAE\t177.8\t165.9\t209.9\nRatios Based On Earned Premiums\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t49.3%\t54.5%\t52.5%\nCurrent Year Catastrophe Losses and LAE Ratio\t32.3\t22.4\t30.1\nPrior Years Non-catastrophe Losses and LAE Ratio\t(1.3)\t(1.1)\t4.2\nPrior Years Catastrophe Losses and LAE Ratio\t0.3\t(7.0)\t(2.9)\nTotal Incurred Loss and LAE Ratio\t80.6%\t68.8%\t83.9%\n", "q10k_tbl_21": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nNet Premiums Written\t34.4\t37.3\t39.4\nEarned Premiums\t35.8\t38.8\t40.4\nIncurred Losses and LAE related to:\t\t\t\nCurrent Year:\t\t\t\nNon-catastrophe Losses and LAE\t12.3\t17.7\t19.1\nCatastrophe Losses and LAE\t6.4\t1.2\t4.9\nPrior Years:\t\t\t\nNon-catastrophe Losses and LAE\t(4.2)\t(6.7)\t(4.8)\nCatastrophe Losses and LAE\t(0.2)\t(1.4)\t(0.9)\nTotal Incurred Losses and LAE\t14.3\t10.8\t18.3\nRatios Based On Earned Premiums\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t34.3%\t45.6%\t47.3%\nCurrent Year Catastrophe Losses and LAE Ratio\t17.9\t3.1\t12.1\nPrior Years Non-catastrophe Losses and LAE Ratio\t(11.7)\t(17.3)\t(11.9)\nPrior Years Catastrophe Losses and LAE Ratio\t(0.6)\t(3.6)\t(2.2)\nTotal Incurred Loss and LAE Ratio\t39.9%\t27.8%\t45.3%\n", "q10k_tbl_22": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nEarned Premiums\t648.7\t643.7\t626.3\nNet Investment Income\t198.8\t206.4\t210.9\nOther Income\t0.6\t8.5\t4.0\nTotal Revenues\t848.1\t858.6\t841.2\nPolicyholders' Benefits and Incurred Losses and LAE\t442.0\t402.7\t404.2\nInsurance Expenses\t334.9\t334.0\t321.1\nOperating Profit\t71.2\t121.9\t115.9\nIncome Tax Expense\t(11.2)\t(23.2)\t(24.4)\nSegment Net Operating Income\t60.0\t98.7\t91.5\n", "q10k_tbl_23": "DOLLARS IN MILLIONS\tDec 31 2020\tDec 31 2019\nInsurance Reserves:\t\t\nFuture Policyholder Benefits\t3440.5\t3385.3\nIncurred Losses and LAE Reserves:\t\t\nLife\t61.1\t89.2\nAccident and Health\t25.9\t27.5\nProperty\t4.6\t3.3\nTotal Incurred Losses and LAE Reserves\t91.6\t120.0\nTotal Insurance Reserves\t3532.1\t3505.3\n", "q10k_tbl_24": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nEarned Premiums\t385.7\t384.6\t378.4\nNet Investment Income\t193.3\t198.8\t202.6\nOther Income\t0\t8.1\t3.5\nTotal Revenues\t579.0\t591.5\t584.5\nPolicyholders' Benefits and Incurred Losses and LAE\t318.2\t270.1\t279.4\nInsurance Expenses\t218.8\t215.3\t207.7\nOperating Profit\t42.0\t106.1\t97.4\nIncome Tax Expense\t(5.2)\t(20.0)\t(20.7)\nTotal Product Line Net Operating Income\t36.8\t86.1\t76.7\n", "q10k_tbl_25": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nEarned Premiums\t199.3\t190.9\t177.5\nNet Investment Income\t5.0\t6.0\t6.1\nOther Income\t0.6\t0.4\t0.5\nTotal Revenues\t204.9\t197.3\t184.1\nPolicyholders' Benefits and Incurred Losses and LAE\t95.3\t109.8\t98.9\nInsurance Expenses\t91.9\t88.7\t82.2\nOperating Profit (Loss)\t17.7\t(1.2)\t3.0\nIncome Tax Expense (Benefit)\t(3.6)\t0.3\t(0.6)\nTotal Product Line Net Operating Income (Loss)\t14.1\t(0.9)\t2.4\n", "q10k_tbl_26": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nEarned Premiums\t63.7\t68.2\t70.4\nNet Investment Income\t0.5\t1.6\t2.2\nTotal Revenues\t64.2\t69.8\t72.6\nIncurred Losses and LAE related to:\t\t\t\nCurrent Year:\t\t\t\nNon-catastrophe Losses and LAE\t15.2\t18.1\t20.5\nCatastrophe Losses and LAE\t12.4\t3.1\t4.0\nPrior Years:\t\t\t\nNon-catastrophe Losses and LAE\t0.4\t0.8\t1.3\nCatastrophe Losses and LAE\t0.5\t0.8\t0.1\nTotal Incurred Losses and LAE\t28.5\t22.8\t25.9\nInsurance Expenses\t24.2\t30.0\t31.2\nOperating Profit\t11.5\t17.0\t15.5\nIncome Tax Expense\t(2.4)\t(3.5)\t(3.1)\nTotal Product Line Net Operating Income\t9.1\t13.5\t12.4\nRatios Based On Earned Premiums\t\t\t\nCurrent Year Non-catastrophe Losses and LAE Ratio\t23.8%\t26.5%\t29.2%\nCurrent Year Catastrophe Losses and LAE Ratio\t19.5\t4.5\t5.7\nPrior Years Non-catastrophe Losses and LAE Ratio\t0.6\t1.2\t1.8\nPrior Years Catastrophe Losses and LAE Ratio\t0.8\t1.2\t0.1\nTotal Incurred Loss and LAE Ratio\t44.7%\t33.4%\t36.8%\n", "q10k_tbl_27": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nInvestment Income:\t\t\t\nInterest on Fixed Income Securities\t289.8\t299.4\t268.9\nDividends on Equity Securities Excluding Alternative Investments\t15.4\t22.9\t13.6\nAlternative Investments:\t\t\t\nEquity Method Limited Liability Investments\t4.9\t1.0\t11.0\nLimited Liability Investments Included in Equity Securities\t22.1\t18.0\t26.4\nTotal Alternative Investments\t27.0\t19.0\t37.4\nShort-term Investments\t5.5\t8.2\t7.0\nLoans to Policyholders\t22.1\t22.6\t22.5\nReal Estate\t9.6\t9.8\t9.6\nOther\t13.2\t1.5\t0.9\nTotal Investment Income\t382.6\t383.4\t359.9\nInvestment Expenses:\t\t\t\nReal Estate\t8.8\t9.6\t9.7\nOther Investment Expenses\t25.6\t9.5\t9.3\nTotal Investment Expenses\t34.4\t19.1\t19.0\nNet Investment Income\t348.2\t364.3\t340.9\n", "q10k_tbl_28": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nRecognized in Consolidated Statements of Income:\t\t\t\nIncome (Loss) from Change in Fair Value of Equity and Convertible Securities\t72.1\t138.9\t(64.3)\nGains on Sales\t48.3\t46.9\t37.6\nLosses on Sales\t(10.2)\t(5.0)\t(11.2)\nImpairment Losses\t(19.5)\t(13.8)\t(4.5)\nNet Gain (Loss) Recognized in Consolidated Statements of Income\t90.7\t167.0\t(42.4)\nRecognized in Other Comprehensive Income (Loss)\t367.4\t405.3\t(235.8)\nTotal Comprehensive Investment Gains (Losses)\t458.1\t572.3\t(278.2)\n", "q10k_tbl_29": "DOLLARS IN MILLIONS\t2020\t2019\nPreferred Stocks\t(0.7)\t6.2\nCommon Stocks\t(0.3)\t1.9\nOther Equity Interests:\t\t\nExchange Traded Funds\t68.0\t121.0\nLimited Liability Companies and Limited Partnerships\t1.7\t4.2\nTotal Other Equity Interests\t69.7\t125.2\nIncome (Loss) from Change in Fair Value of Equity Securities\t68.7\t133.3\nIncome (Loss) from Change in Fair Value of Convertible Securities\t3.4\t5.6\nIncome (Loss) from Change in Fair Value of Equity and Convertible Securities\t72.1\t138.9\n", "q10k_tbl_30": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nFixed Maturities:\t\t\t\nGains on Sales\t40.6\t41.1\t25.3\nLosses on Sales\t(7.9)\t(4.8)\t(11.1)\nEquity Securities:\t\t\t\nGains on Sales\t5.9\t5.8\t12.3\nLosses on Sales\t(1.9)\t(0.2)\t0\nEquity Method Limited Liability Investments:\t\t\t\nLosses on Sales\t(0.4)\t0\t0\nReal Estate:\t\t\t\nGains on Sales\t1.8\t0\t0\nOther Investments:\t\t\t\nLosses on Sales\t0\t0\t(0.1)\nNet Realized Gains on Sales of Investments\t38.1\t41.9\t26.4\nGross Gains on Sales\t48.3\t46.9\t37.6\nGross Losses on Sales\t(10.2)\t(5.0)\t(11.2)\nNet Realized Gains on Sales of Investments\t38.1\t41.9\t26.4\n", "q10k_tbl_31": "\t2020\t\t2019\t\t2018\t\nDOLLARS IN MILLIONS\tAmount\tNumber of Issuers\tAmount\tNumber of Issuers\tAmount\tNumber of Issuers\nFixed Maturities\t(16.7)\t14\t(13.3)\t14\t(2.0)\t24\nEquity Securities\t(2.8)\t2\t(0.5)\t1\t(2.5)\t5\nImpairment Losses\t(19.5)\t\t(13.8)\t\t(4.5)\t\n", "q10k_tbl_32": "NAIC Rating\tRating\tDec 31 2020\t\tDec 31 2019\t\nFair Value in Millions\tPercentage of Fixed Maturities\tFair Value in Millions\tPercentage of Fixed Maturities\n1\tAAA AA A\t4759.9\t62.6%\t4387.1\t63.4%\n2\tBBB\t2355.6\t31.0\t2044.1\t29.5\n3-4\tBB B\t353.1\t4.6\t319.2\t4.6\n5-6\tCCC or Lower\t137.3\t1.8\t171.7\t2.5\nTotal Investments in Fixed Maturities\t\t7605.9\t100.0%\t6922.1\t100.0%\n", "q10k_tbl_33": "\tDec 31 2020\t\tDec 31 2019\t\nDOLLARS IN MILLIONS\tFair Value\tPercentage of Total Investments\tFair Value\tPercentage of Total Investments\nU.S. Government and Government Agencies and Authorities\t585.3\t5.6%\t815.9\t8.8%\nStates and Political Subdivisions:\t\t\t\t\nRevenue Bonds\t1153.3\t11.1\t958.6\t10.4\nStates\t333.5\t3.2\t427.5\t4.6\nPolitical Subdivisions\t102.6\t1.0\t129.7\t1.4\nForeign Governments\t5.2\t0\t16.8\t0.2\nTotal Investments in Governmental Fixed Maturities\t2179.9\t20.9%\t2348.5\t25.4%\n", "q10k_tbl_34": "\tDec 31 2020\t\tDec 31 2019\t\nDOLLARS IN MILLIONS\tFair Value\tPercentage of Total Investments\tFair Value\tPercentage of Total Investments\nFinance Insurance and Real Estate\t1916.3\t18.4%\t1522.8\t16.4%\nManufacturing\t1633.5\t15.7\t1356.4\t14.6\nTransportation Communication and Utilities\t825.5\t7.9\t650.2\t7.0\nServices\t581.3\t5.6\t604.4\t6.5\nRetail Trade\t172.6\t1.7\t183.3\t2.0\nMining\t285.7\t2.7\t154.5\t1.7\nWholesale Trade\t0.5\t0\t72.9\t0.8\nAgriculture Forestry and Fishing\t0\t0\t12.4\t0.1\nOther\t10.5\t0.1\t16.6\t0.2\nTotal Investments in Non-governmental Fixed Maturities\t5425.9\t52.1%\t4573.5\t49.3%\n", "q10k_tbl_35": "DOLLARS IN MILLIONS\tNumber of Issuers\tAggregate Fair Value\nBelow $5\t524\t1195.3\n5 -$10\t217\t1535.2\n10 - $20\t124\t1682.1\n20 - $30\t28\t671.8\nGreater Than $30\t10\t341.5\nTotal\t903\t5425.9\n", "q10k_tbl_36": "DOLLARS IN MILLIONS\tFair Value\tPercentage of Total Investments\nFixed Maturities:\t\t\nStates including their Political Subdivisions:\t\t\nTexas\t140.6\t1.3%\nGeorgia\t107.9\t1.0\nColorado\t85.6\t0.8\nNew York\t76.1\t0.7\nMichigan\t73.1\t0.7\nLouisiana\t71.7\t0.7\nCalifornia\t70.4\t0.7\nPennsylvania\t58.1\t0.6\nEquity Securities at Fair Value-Other Equity Interests:\t\t\nVanguard Total World Stock ETF\t195.5\t1.9\niShares® Core MSCI Total International Stock ETF\t76.3\t0.7\nTotal\t955.3\t9.1%\n", "q10k_tbl_37": "\tUnfunded Commitment in Millions\tReported Value in Millions\t\nAsset Class\tDec 31 2020\tDec 31 2020\tDec 31 2019\nReported as Equity Method Limited Liability Investments:\t\t\t\nMezzanine Debt\t57.4\t102.5\t129.3\nSenior Debt\t22.3\t28.6\t16.0\nAlternative Energy Partnerships\t80.0\t21.3\t0\nDistressed Debt\t0\t14.5\t22.7\nSecondary Transactions\t13.0\t11.2\t11.5\nLeveraged Buyout\t0.1\t3.5\t0.1\nGrowth Equity\t0\t0.7\t5.3\nReal Estate\t0\t29.9\t29.9\nOther\t0\t13.1\t5.6\nTotal Equity Method Limited Liability Investments\t172.8\t225.3\t220.4\nReported as Other Equity Interests at Fair Value:\t\t\t\nMezzanine Debt\t72.9\t118.3\t126.1\nSenior Debt\t18.9\t33.9\t39.5\nDistressed Debt\t24.1\t31.8\t16.8\nSecondary Transactions\t6.2\t4.2\t4.9\nHedge Funds\t0\t71.6\t48.2\nLeveraged Buyout\t7.6\t30.7\t4.4\nOther\t1.1\t1.5\t8.2\nTotal Reported as Other Equity Interests at Fair Value\t130.8\t292.0\t248.1\nReported as Equity Securities at Modified Cost:\t\t\t\nMezzanine Debt\t0\t0\t1.6\nOther\t0.2\t15.7\t18.9\nTotal Reported as Equity Securities at Modified Cost\t0.2\t15.7\t20.5\nTotal Investments in Limited Liability Companies and Limited Partnerships\t303.8\t533.0\t489.0\n", "q10k_tbl_38": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nInsurance Expenses:\t\t\t\nCommissions\t745.8\t708.8\t558.7\nGeneral Expenses\t307.4\t278.0\t231.9\nPremium Tax Expense\t94.2\t93.5\t71.0\nTotal Costs Incurred\t1147.4\t1080.3\t861.6\nNet Policy Acquisition Costs Amortized (Deferred)\t(51.6)\t(66.9)\t(104.4)\nAmortization of Value of Business Acquired (\"VOBA\")\t4.7\t6.3\t143.3\nInsurance Expenses\t1100.5\t1019.7\t900.5\nLoss from Early Extinguishment of Debt\t0\t5.8\t0\nInterest Expense\t36.0\t42.5\t43.4\nOther Expenses:\t\t\t\nAcquisition Related Transaction Integration and Other Costs\t63.3\t18.4\t44.7\nPension Settlement Expense\t64.1\t0\t0\nOther\t108.1\t102.9\t70.9\nOther Expenses\t235.5\t121.3\t115.6\nInterest and Other Expenses\t271.5\t163.8\t159.0\nTotal Expenses\t1372.0\t1189.3\t1059.5\n", "q10k_tbl_39": "(Dollars in Millions)\tDec 31 2020\tDec 31 2019\nTerm Loan due July 5 2023\t49.9\t49.9\n5.000% Senior Notes due September 19 2022\t278.3\t279.9\n4.350% Senior Notes due February 15 2025\t448.8\t448.6\n2.400% Senior Notes due September 30 2030\t395.8\t0\nTotal Long-term Debt Outstanding\t1172.8\t778.4\n", "q10k_tbl_40": "DOLLARS IN MILLIONS\tJan 1 2021 to Dec 31 2021\tJan 1 2022 to Dec 31 2023\tJan 1 2024 to Dec 31 2025\tAfter Dec 31 2025\tTotal\nLong Term Debt Obligations\t0\t325.0\t450.0\t400.0\t1175.0\nFinance Lease Obligations\t0.2\t0\t0\t0\t0.2\nOperating Lease Obligations\t20.8\t37.3\t21.5\t24.2\t103.8\nPurchase Obligations\t14.0\t7.7\t4.6\t0\t26.3\nLife and Health Insurance Policy Benefits\t311.3\t501.9\t479.1\t6924.6\t8216.9\nProperty and Casualty Insurance Reserves\t1397.5\t460.6\t89.3\t35.1\t1982.5\nOther Contractual Obligations Reflected in Long Term Liabilities on the Consolidated Balance Sheet under GAAP\t50.0\t79.0\t44.6\t48.3\t221.9\nTotal Contractual Obligations\t1793.8\t1411.5\t1089.1\t7432.2\t11726.6\n", "q10k_tbl_41": "DOLLARS IN MILLIONS\t2020\t2019\nBusiness Segments:\t\t\nSpecialty Property & Casualty Insurance\t1544.8\t1551.0\nPreferred Property & Casualty Insurance\t411.6\t388.5\nLife & Health Insurance\t4.6\t3.3\nTotal Business Segments\t1961.0\t1942.8\nUnallocated Reserves\t21.5\t27.0\nTotal Property and Casualty Insurance Reserves\t1982.5\t1969.8\n", "q10k_tbl_42": "DOLLARS IN MILLIONS\tFair Value\tPro Forma Increase (Decrease)\t\t\nInterest Rate Risk\tEquity Price Risk\tTotal Market Risk\nASSETS\t\t\t\t\nInvestments in Fixed Maturities\t7605.9\t(576.0)\t0\t(576.0)\nInvestments in Equity Securities\t858.5\t(2.5)\t(173.4)\t(175.9)\nLIABILITIES\t\t\t\t\nDebt\t1247.8\t41.2\t0\t41.2\n", "q10k_tbl_43": "DOLLARS IN MILLIONS\tFair Value\tPro Forma Increase (Decrease)\t\t\nInterest Rate Risk\tEquity Price Risk\tTotal Market Risk\nASSETS\t\t\t\t\nInvestments in Fixed Maturities\t6922.1\t(489.1)\t0\t(489.1)\nInvestments in Equity Securities\t907.3\t(40.2)\t(175.1)\t(215.3)\nLIABILITIES\t\t\t\t\nDebt\t820.2\t29.2\t0\t29.2\n", "q10k_tbl_44": "Consolidated Statements of Income for the Years Ended December 31 2020 2019 and 2018\t70\nConsolidated Statements of Comprehensive Income (Loss) for the Years Ended December 31 2020 2019 and 2018\t71\nConsolidated Balance Sheets at December 31 2020 and 2019\t72\nConsolidated Statements of Cash Flows for the Years Ended December 31 2020 2019 and 2018\t73\nConsolidated Statements of Shareholders' Equity for the Years Ended December 31 2020 2019 and 2018\t74\nNotes to the Consolidated Financial Statements\t\nNote 1-Basis of Presentation and Significant Estimates\t75\nNote 2-Summary of Accounting Policies and Accounting Changes\t75\nNote 3-Acquisition of Business\t82\nNote 4-Investments\t84\nNote 5-Goodwill and Intangible Assets\t87\nNote 6-Property and Casualty Insurance Reserves\t88\nNote 7-Policyholder Obligations\t99\nNote 8-Debt\t100\nNote 9-Leases\t102\nNote 10-Shareholders' Equity\t103\nNote 11-Long-term Equity-based Compensation\t104\nNote 12-Income from Continuing Operations per Unrestricted Share\t109\nNote 13-Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income\t110\nNote 14-Income from Investments\t112\nNote 15-Insurance Expenses\t113\nNote 16-Income Taxes\t114\nNote 17-Pension Benefits\t116\nNote 18-Postretirement Benefits Other Than Pensions\t120\nNote 19-Business Segments\t122\nNote 20-Catastrophe Reinsurance\t124\nNote 21-Other Reinsurance\t127\nNote 22-Fair Value Measurements\t127\nNote 23-Contingencies\t132\nNote 24-Related Parties\t133\nNote 25-Quarterly Financial Information (Unaudited)\t134\nReport of Independent Registered Public Accounting Firm\t136\n", "q10k_tbl_45": "\tFor the Year Ended December 31\t\t\nDOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS\t2020\t2019\t2018\nRevenues:\t\t\t\nEarned Premiums\t4672.2\t4472.4\t3384.4\nNet Investment Income\t348.2\t364.3\t340.9\nOther Income\t94.6\t35.5\t42.2\nIncome (Loss) from Change in Fair Value of Equity and Convertible Securities\t72.1\t138.9\t(64.3)\nNet Realized Gains on Sales of Investments\t38.1\t41.9\t26.4\nOther-than-temporary Impairment Losses:\t\t\t\nTotal Other-than-temporary Impairment Losses\t(19.5)\t(13.7)\t(4.5)\nPortion of Gains (Losses) Recognized in Other Comprehensive Income\t0\t(0.1)\t0\nImpairment Losses\t(19.5)\t(13.8)\t(4.5)\nTotal Revenues\t5205.7\t5039.2\t3725.1\nExpenses:\t\t\t\nPolicyholders' Benefits and Incurred Losses and Loss Adjustment Expenses\t3323.6\t3188.3\t2466.5\nInsurance Expenses\t1100.5\t1019.7\t900.5\nLoss from Early Extinguishment of Debt\t0\t5.8\t0\nInterest and Other Expenses\t271.5\t163.8\t159.0\nTotal Expenses\t4695.6\t4377.6\t3526.0\nIncome from Continuing Operations before Income Taxes\t510.1\t661.6\t199.1\nIncome Tax Expense\t(100.2)\t(130.5)\t(10.7)\nIncome from Continuing Operations\t409.9\t531.1\t188.4\nIncome from Discontinued Operations\t0\t0\t1.7\nNet Income\t409.9\t531.1\t190.1\nIncome from Continuing Operations Per Unrestricted Share:\t\t\t\nBasic\t6.24\t8.04\t3.22\nDiluted\t6.14\t7.96\t3.19\nNet Income Per Unrestricted Share:\t\t\t\nBasic\t6.24\t8.04\t3.25\nDiluted\t6.14\t7.96\t3.22\n", "q10k_tbl_46": "\tFor The Years Ended December 31\t\t\nDOLLARS IN MILLIONS\t2020\t2019\t2018\nNet Income\t409.9\t531.1\t190.1\nOther Comprehensive Income (Loss) Before Income Taxes:\t\t\t\nChanges in Net Unrealized Holding Gains (Losses) on Investment Securities with:\t\t\t\nNo Credit Losses Recognized in Consolidated Statements of Income\t369.9\t405.3\t(236.1)\nCredit Losses Recognized in Consolidated Statements of Income\t(2.6)\t0\t0\nForeign Currency Translation Adjustments\t0\t0\t0.3\nDecrease (Increase) in Net Unrecognized Postretirement Benefit Costs\t70.2\t(7.8)\t(6.9)\nGain (Loss) on Cash Flow Hedges\t0.4\t0.4\t1.2\nOther Comprehensive Income (Loss) Before Income Taxes\t437.9\t397.9\t(241.5)\nOther Comprehensive Income Tax Benefit (Expense)\t(93.5)\t(83.6)\t50.7\nOther Comprehensive Income (Loss)\t344.4\t314.3\t(190.8)\nTotal Comprehensive Income (Loss)\t754.3\t845.4\t(0.7)\n", "q10k_tbl_47": "\tDecember 31\t\nDOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS\t2020\t2019\nAssets:\t\t\nInvestments:\t\t\nFixed Maturities at Fair Value (Amortized Cost: 2020 - $6692.7; 2019 - $6372.7; Allowance for Credit Losses: 2020 - $3.3)\t7605.9\t6922.1\nEquity Securities at Fair Value (Cost: 2020 - $684.1; 2019 - $818.8)\t858.5\t907.3\nEquity Securities at Modified Cost\t40.1\t41.9\nEquity Method Limited Liability Investments\t225.3\t220.4\nConvertible Securities at Fair Value\t39.9\t37.3\nShort-term Investments at Cost which Approximates Fair Value\t875.4\t470.9\nOther Investments\t779.0\t661.5\nTotal Investments\t10424.1\t9261.4\nCash\t206.1\t136.8\nReceivables from Policyholders (Allowance for Credit Losses: 2020 - $20.9; 2019 - $22.3)\t1194.5\t1117.1\nOther Receivables\t222.4\t219.7\nDeferred Policy Acquisition Costs\t589.3\t537.7\nGoodwill\t1114.0\t1114.0\nCurrent Income Tax Assets\t15.6\t44.7\nOther Assets\t575.9\t557.7\nTotal Assets\t14341.9\t12989.1\nLiabilities and Shareholders' Equity:\t\t\nInsurance Reserves:\t\t\nLife and Health\t3527.5\t3502.0\nProperty and Casualty\t1982.5\t1969.8\nTotal Insurance Reserves\t5510.0\t5471.8\nUnearned Premiums\t1615.1\t1545.5\nPolicyholder Obligations\t467.0\t309.8\nDeferred Income Tax Liabilities\t285.7\t178.2\nAccrued Expenses and Other Liabilities\t727.9\t733.1\nLong-term Debt Current and Non-current at Amortized Cost (Fair Value: 2020 - $1247.8; 2019 - $820.2)\t1172.8\t778.4\nTotal Liabilities\t9778.5\t9016.8\nShareholders' Equity:\t\t\nCommon Stock $0.10 Par Value Per Share 100000000 Shares Authorized; 65436207 Shares Issued and Outstanding at December 31 2020 and 66665888 Shares Issued and Outstanding at December 31 2019\t6.5\t6.7\nPaid-in Capital\t1805.2\t1819.2\nRetained Earnings\t2071.2\t1810.3\nAccumulated Other Comprehensive Income\t680.5\t336.1\nTotal Shareholders' Equity\t4563.4\t3972.3\nTotal Liabilities and Shareholders' Equity\t14341.9\t12989.1\n", "q10k_tbl_48": "\tFor The Years Ended December 31\t\t\nDOLLARS IN MILLIONS\t2020\t2019\t2018\nCash Flows from Operating Activities:\t\t\t\nNet Income\t409.9\t531.1\t190.1\nAdjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:\t\t\t\nNet Realized Investment (Gains) Losses\t(38.1)\t(41.9)\t(26.4)\nImpairment Losses\t19.5\t13.8\t4.5\nDepreciation and Amortization of Property Equipment and Software\t36.2\t32.8\t15.6\nAmortization of Intangibles Assets Acquired\t18.8\t29.7\t156.3\nSettlement Costs Related to Defined Benefit Pension Plan\t64.1\t0\t0\nContribution to Defined Benefit Pension Plan\t0\t(55.3)\t(5.1)\nLoss from Early Extinguishment of Debt\t0\t5.8\t0\nChange in Accumulated Undistributed Earnings of Equity Method Limited Liability Investments\t(4.0)\t10.9\t2.9\nDecrease (Increase) in Value of Equity and Convertible Securities at Fair Value\t(72.1)\t(138.9)\t64.3\nChanges in:\t\t\t\nReceivables from Policyholders\t(77.4)\t(110.1)\t(57.6)\nReinsurance Recoverables\t16.8\t35.6\t(46.7)\nDeferred Policy Acquisition Costs\t(52.3)\t(66.9)\t(104.6)\nInsurance Reserves\t38.3\t102.3\t183.2\nUnearned Premiums\t69.6\t121.2\t54.7\nIncome Taxes\t46.5\t58.8\t13.1\nOther Assets and Liabilities\t(27.8)\t5.4\t94.9\nNet Cash Provided by Operating Activities\t448.0\t534.3\t539.2\nCash Flows from Investing Activities:\t\t\t\nProceeds from Sales Calls and Maturities of Fixed Maturities\t972.4\t1229.1\t2643.3\nProceeds from the Sales or Paydowns of Investments:\t\t\t\nEquity Securities\t434.4\t217.3\t351.9\nReal Estate Investments\t5.4\t0\t0\nMortgage Loans\t25.5\t17.2\t0\nOther Investments\t45.2\t29.5\t14.1\nPurchases of Investments:\t\t\t\nFixed Maturities\t(1293.3)\t(1284.9)\t(2413.2)\nEquity Securities\t(319.1)\t(307.0)\t(478.5)\nReal Estate Investments\t(0.5)\t(1.4)\t(1.5)\nCorporate-owned Life Insurance\t(100.0)\t(150.0)\t0\nMortgage Loans\t(52.7)\t(44.5)\t0\nOther Investments\t(43.5)\t(73.8)\t(45.1)\nNet Sales (Purchases) of Short-term Investments\t(390.8)\t(176.0)\t52.7\nAcquisition of Business Net of Cash Acquired\t0\t0\t(560.6)\nAcquisition of Software and Long-lived Assets\t(53.4)\t(84.0)\t(65.3)\nOther\t13.4\t(4.9)\t4.6\nNet Cash Provided by (Used in) Investing Activities\t(757.0)\t(633.4)\t(497.6)\nCash Flows from Financing Activities:\t\t\t\nNet Proceeds from Issuance of Long-term Debt\t395.6\t49.9\t249.4\nRepayment of Long-term Debt\t0\t(185.0)\t(215.0)\nProceeds from Policyholder Obligations\t467.0\t615.8\t11.4\nRepayment of Policyholder Obligations\t(304.8)\t(383.6)\t(2.5)\nProceeds from Issuance of Common Stock Net of Transaction Costs\t0\t127.5\t0\nProceeds from Shares Issued under Employee Stock Purchase Plan\t4.4\t1.6\t0\nCommon Stock Repurchases\t(110.4)\t0\t0\nDividends and Dividend Equivalents Paid\t(78.9)\t(67.8)\t(56.4)\nOther\t5.4\t2.4\t0.9\nNet Cash Provided by (Used in) Financing Activities\t378.3\t160.8\t(12.2)\nIncrease in Cash\t69.3\t61.7\t29.4\nCash Beginning of Year\t136.8\t75.1\t45.7\nCash End of Period\t206.1\t136.8\t75.1\n", "q10k_tbl_49": "DOLLARS AND SHARES IN MILLIONS EXCEPT PER SHARE AMOUNTS\tFor the Years Ended December 31 2020 2019 and 2018\t\t\t\t\t\nNumber of Shares\tCommon Stock\tPaid-in Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss)\tTotal Shareholders' Equity\nBALANCE DECEMBER 31 2017\t51.5\t5.1\t673.1\t1243.0\t194.4\t2115.6\nCumulative Effect of Adoption of New Accounting Standard\t0\t0\t0\t(18.2)\t18.2\t0\nBALANCE JANUARY 1 2018 As Adjusted\t51.5\t5.1\t673.1\t1224.8\t212.6\t2115.6\nNet Income\t0\t0\t0\t190.1\t0\t190.1\nOther Comprehensive Income (Loss) Net of Taxes (Note 13)\t0\t0\t0\t0\t(190.8)\t(190.8)\nCash Dividends and Dividend Equivalents to Shareholders ($0.96 per share)\t0\t0\t0\t(56.4)\t0\t(56.4)\nIssuances of Common Stock (Note 3)\t13.1\t1.4\t977.2\t0\t0\t978.6\nEquity-based Compensation Cost (Note 11)\t0\t0\t18.6\t0\t0\t18.6\nEquity-based Awards Net of Shares Exchanged (Note 11)\t0.1\t0\t(2.6)\t(3.0)\t0\t(5.6)\nBALANCE DECEMBER 31 2018\t64.7\t6.5\t1666.3\t1355.5\t21.8\t3050.1\nNet Income\t0\t0\t0\t531.1\t0\t531.1\nOther Comprehensive Income (Loss) Net of Taxes (Note 13)\t0\t0\t0\t0\t314.3\t314.3\nCash Dividends and Dividend Equivalents to Shareholders ($1.03 per share)\t0\t0\t0\t(68.4)\t0\t(68.4)\nIssuances of Common Stock (Note 3)\t1.6\t0.2\t127.0\t0\t0\t127.2\nShares Issued Under Employee Stock Purchase Plan (Note 10)\t0\t0\t1.9\t0\t0\t1.9\nEquity-based Compensation Cost (Note 11)\t0\t0\t25.3\t0\t0\t25.3\nEquity-based Awards Net of Shares Exchanged (Note 11)\t0.4\t0\t(1.3)\t(7.9)\t0\t(9.2)\nBALANCE DECEMBER 31 2019\t66.7\t6.7\t1819.2\t1810.3\t336.1\t3972.3\nNet Income\t0\t0\t0\t409.9\t0\t409.9\nOther Comprehensive Income (Loss) Net of Taxes (Note 13)\t0\t0\t0\t0\t344.4\t344.4\nCash Dividends and Dividend Equivalents to Shareholders ($1.20 per share)\t0\t0\t0\t(79.4)\t0\t(79.4)\nRepurchase of Common Stock (Note 10)\t(1.6)\t(0.2)\t(44.2)\t(66.0)\t0\t(110.4)\nShares Issued Under Employee Stock Purchase Plan (Note 10)\t0\t0\t4.4\t0\t0\t4.4\nEquity-based Compensation Cost (Note 11)\t0\t0\t24.9\t0\t0\t24.9\nEquity-based Awards Net of Shares Exchanged (Note 11)\t0.3\t0\t0.9\t(3.6)\t0\t(2.7)\nBALANCE DECEMBER 31 2020\t65.4\t6.5\t1805.2\t2071.2\t680.5\t4563.4\n", "q10k_tbl_50": "DOLLARS IN MILLIONS\t\nInvestments\t1569.3\nShort-term Investments at Cost which Approximates Fair Value Investments\t98.8\nCash\t4.0\nReceivables from Policyholders\t583.4\nOther Receivables\t31.7\nValue of Intangible Assets Acquired (Reported in Other Assets)\t262.7\nCurrent Income Tax Assets\t1.0\nGoodwill1\t791.0\nOther Assets\t102.1\nProperty and Casualty Insurance Reserves\t(717.2)\nUnearned Premiums\t(715.6)\nDebt\t(282.1)\nDeferred Income Tax Liabilities\t(10.8)\nAccrued Expenses and Other Liabilities\t(169.6)\nTotal Purchase Price\t1548.7\n", "q10k_tbl_51": "DOLLARS IN MILLIONS\tAmortized Cost\tGross Unrealized\t\tAllowance for Expected Credit Losses\tFair Value\nGains\tLosses\t\nU.S. Government and Government Agencies and Authorities\t536.5\t48.9\t(0.1)\t0\t585.3\nStates and Political Subdivisions\t1404.3\t185.4\t(0.2)\t0\t1589.5\nForeign Governments\t6.6\t0\t(1.1)\t(0.3)\t5.2\nCorporate Securities:\t\t\t\t\t\nBonds and Notes\t3749.5\t689.5\t(10.6)\t(3.0)\t4425.4\nRedeemable Preferred Stocks\t7.0\t0.5\t0\t0\t7.5\nCollateralized Loan Obligations\t785.1\t2.3\t(19.7)\t0\t767.7\nOther Mortgage- and Asset-backed\t203.7\t21.6\t0\t0\t225.3\nInvestments in Fixed Maturities\t6692.7\t948.2\t(31.7)\t(3.3)\t7605.9\n", "q10k_tbl_52": "\tAmortized Cost\tGross Unrealized\t\tFair Value\nDOLLARS IN MILLIONS\tGains\tLosses\nU.S. Government and Government Agencies and Authorities\t784.7\t32.5\t(1.3)\t815.9\nStates and Political Subdivisions\t1386.4\t130.5\t(1.1)\t1515.8\nForeign Governments\t17.2\t1.2\t(1.6)\t16.8\nCorporate Securities:\t\t\t\t\nBonds and Notes\t3465.0\t401.8\t(7.1)\t3859.7\nRedeemable Preferred Stocks\t6.8\t0\t(0.1)\t6.7\nCollateralized Loan Obligations\t624.6\t2.1\t(8.5)\t618.2\nOther Mortgage- and Asset-backed\t88.0\t2.1\t(1.1)\t89.0\nInvestments in Fixed Maturities\t6372.7\t570.2\t(20.8)\t6922.1\n", "q10k_tbl_53": "DOLLARS IN MILLIONS\tAmortized Cost\tFair Value\nDue in One Year or Less\t98.6\t101.3\nDue after One Year to Five Years\t1107.3\t1182.9\nDue after Five Years to Ten Years\t1525.1\t1720.0\nDue after Ten Years\t2567.8\t3177.7\nMortgage- and Asset-backed Securities Not Due at a Single Maturity Date\t1393.9\t1424.0\nInvestments in Fixed Maturities\t6692.7\t7605.9\n", "q10k_tbl_54": "DOLLARS IN MILLIONS\t\tLess Than 12 Months\t\t\t\t12 Months or Longer\t\t\t\tTotal\t\t\n\tFair Value\t\tUnrealized Losses\t\tFair Value\t\tUnrealized Losses\t\tFair Value\t\tUnrealized Losses\nFixed Maturities:\t\t\t\t\t\t\t\t\t\t\t\t\nU.S. Government and Government Agencies and Authorities\t\t10.5\t\t(0.1)\t\t0\t\t0\t\t10.5\t\t(0.1)\nStates and Political Subdivisions\t\t23.3\t\t(0.2)\t\t0\t\t0\t\t23.3\t\t(0.2)\nForeign Governments\t\t0.5\t\t(0.1)\t\t2.6\t\t(1.0)\t\t3.1\t\t(1.1)\nCorporate Securities:\t\t\t\t\t\t\t\t\t\t\t\t\nBonds and Notes\t\t132.9\t\t(7.5)\t\t46.1\t\t(3.1)\t\t179.0\t\t(10.6)\nCollateralized Loan Obligations\t\t145.2\t\t(3.8)\t\t371.4\t\t(15.9)\t\t516.6\t\t(19.7)\nOther Mortgage- and Asset-backed\t\t6.3\t\t0\t\t0\t\t0\t\t6.3\t\t0\nTotal Fixed Maturities\t\t318.7\t\t(11.7)\t\t420.1\t\t(20.0)\t\t738.8\t\t(31.7)\n", "q10k_tbl_55": "DOLLARS IN MILLIONS\t\tLess Than 12 Months\t\t\t\t12 Months or Longer\t\t\t\tTotal\t\t\n\tFair Value\t\tUnrealized Losses\t\tFair Value\t\tUnrealized Losses\t\tFair Value\t\tUnrealized Losses\nFixed Maturities:\t\t\t\t\t\t\t\t\t\t\t\t\nU.S. Government and Government Agencies and Authorities\t\t118.5\t\t(1.3)\t\t5.1\t\t0\t\t123.6\t\t(1.3)\nStates and Political Subdivisions\t\t63.0\t\t(0.7)\t\t5.4\t\t(0.4)\t\t68.4\t\t(1.1)\nForeign Governments\t\t1.0\t\t(0.3)\t\t3.1\t\t(1.3)\t\t4.1\t\t(1.6)\nCorporate Securities:\t\t\t\t\t\t\t\t\t\t\t\t\nBonds and Notes\t\t160.0\t\t(2.1)\t\t70.7\t\t(5.0)\t\t230.7\t\t(7.1)\nRedeemable Preferred Stocks\t\t5.5\t\t(0.1)\t\t0\t\t0\t\t5.5\t\t(0.1)\nCollateralized Loan Obligations\t\t95.5\t\t(1.9)\t\t355.6\t\t(6.6)\t\t451.1\t\t(8.5)\nOther Mortgage- and Asset-backed\t\t72.8\t\t(1.1)\t\t0\t\t0\t\t72.8\t\t(1.1)\nTotal Fixed Maturities\t\t516.3\t\t(7.5)\t\t439.9\t\t(13.3)\t\t956.2\t\t(20.8)\n", "q10k_tbl_56": "\tForeign Governments\tCorporate Bonds and Notes\tTotal\n(Dollars in Millions)\nAllowance for Credit Losses at Beginning of the Year\t0\t0\t0\nImpact of Adopting ASU 2016-13\t0\t0\t0\nAdditions for Securities for which No Previous Expected Credit Losses were Recognized\t1.2\t5.9\t7.1\nReduction Due to Sales\t(0.7)\t(1.3)\t(2.0)\nNet Increase (Decrease) in Allowance on Previously Impaired Securities\t(0.2)\t(0.2)\t(0.4)\nWrite-offs Charged Against Allowance\t0\t(1.4)\t(1.4)\nAllowance for Credit Losses at End of Period\t0.3\t3.0\t3.3\n", "q10k_tbl_57": "DOLLARS IN MILLIONS\t2020\t2019\nCompany-owned Life Insurance\t327.4\t217.0\nLoans to Policyholders at Unpaid Principal\t297.9\t305.6\nReal Estate at Depreciated Cost\t98.7\t111.4\nMortgage Loans and Other\t55.0\t27.5\nTotal\t779.0\t661.5\n", "q10k_tbl_58": "DOLLARS IN MILLIONS\t2020\t2019\nSpecialty Property & Casualty Insurance\t845.0\t845.0\nPreferred Property & Casualty Insurance\t49.6\t49.6\nLife & Health Insurance\t219.4\t219.4\nTotal\t1114.0\t1114.0\n", "q10k_tbl_59": "\t2020\t\t\t2019\t\t\n(Dollars in Millions)\tGross Carrying Amount\tAccumulated Amortization\tNet Amount\tGross Carrying Amount\tAccumulated Amortization\tNet Amount\nDefinite Life Intangibles\t\t\t\t\t\t\nValue of Business Acquired\t194.5\t174.2\t20.3\t194.5\t170.4\t24.1\nCustomer Relationships\t39.0\t35.6\t3.4\t39.0\t34.7\t4.3\nAgent Relationships\t74.4\t16.8\t57.6\t74.4\t11.9\t62.5\nInternal-Use Software\t299.6\t108.6\t191.0\t261.6\t71.9\t189.7\nTotal Definite Life Intangible Assets\t607.5\t335.2\t272.3\t569.5\t288.9\t280.6\nIndefinite Life Intangible Assets\t\t\t\t\t\t\nTrade Names\t5.2\t0\t5.2\t5.2\t0\t5.2\nInsurance Licenses\t42.6\t0\t42.6\t42.6\t0\t42.6\nTotal Indefinite Life Intangible Assets\t47.8\t0\t47.8\t47.8\t0\t47.8\nTotal Intangible Assets\t655.3\t335.2\t320.1\t617.3\t288.9\t328.4\n", "q10k_tbl_60": "DOLLARS IN MILLIONS\t2021\t2022\t2023\t2024\t2025\nDefinite Life Intangible Assets:\t\t\t\t\t\nValue of Business Acquired\t3.4\t1.9\t1.9\t1.8\t1.8\nCustomer Relationships\t0.7\t0.6\t0.5\t0.4\t0.4\nAgent Relationships\t5.0\t5.0\t5.0\t5.0\t5.0\nInternal-Use Software\t24.8\t25.6\t22.8\t19.4\t15.4\nTotal\t33.9\t33.1\t30.2\t26.6\t22.6\n", "q10k_tbl_61": "DOLLARS IN MILLIONS EXCEPT CUMULATIVE REPORTED CLAIMS\t\t\t\t\t\tAs of December 31 2020\t\n\tCumulative Incurred Losses and Allocated LAE Net of Reinsurance For the Years Ended December 31\t\t\t\t\tTotal of IBNR Liabilities Plus Expected Development on Reported Claims\tCumulative Number of Reported Claims\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\n2016\t969.4\t1021.6\t1027.2\t1026.0\t1022.7\t4.7\t417219\n2017\t\t997.7\t999.9\t1004.5\t999.1\t13.7\t397059\n2018\t\t\t1128.1\t1119.1\t1120.0\t33.9\t447610\n2019\t\t\t\t1270.7\t1306.9\t91.4\t485455\n2020\t\t\t\t\t1219.3\t368.6\t399216\nTotal\t\t\t\t\t5668.0\t\t\n\tCumulative Paid Losses and Allocated LAE Net of Reinsurance\t\t\t\t\t\t\n\tFor the Years Ended December 31\t\t\t\t\t\t\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\t\n2016\t459.7\t831.1\t943.4\t987.7\t1008.3\t\t\n2017\t\t441.9\t808.6\t926.7\t967.7\t\t\n2018\t\t\t467.5\t903.8\t1039.3\t\t\n2019\t\t\t\t497.2\t1052.5\t\t\n2020\t\t\t\t\t491.6\t\t\nTotal\t\t\t\t\t4559.4\t\t\nOutstanding Loss and Allocated LAE Reserves on Accident Years before 2016 Net of Reinsurance\t\t\t\t\t3.9\t\t\nLoss and Allocated LAE Reserves Net of Reinsurance\t\t\t\t\t1112.5\t\t\n", "q10k_tbl_62": "DOLLARS IN MILLIONS EXCEPT CUMULATIVE REPORTED CLAIMS\t\t\t\t\t\tAs of December 31 2020\t\n\tCumulative Incurred Losses and Allocated LAE Net of Reinsurance For the Years Ended December 31\t\t\t\t\tTotal of IBNR Liabilities Plus Expected Development on Reported Claims\tCumulative Number of Reported Claims\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\n2016\t462.2\t456.9\t456.9\t457.0\t457.4\t(0.1)\t246239\n2017\t\t475.6\t465.6\t465.1\t465.6\t0.1\t251935\n2018\t\t\t504.9\t496.9\t496.4\t(0.4)\t270000\n2019\t\t\t\t574.7\t581.0\t(10.7)\t286954\n2020\t\t\t\t\t600.2\t52.0\t252237\nTotal\t\t\t\t\t2600.6\t\t\n\tCumulative Paid Losses and Allocated LAE Net of Reinsurance\t\t\t\t\t\t\n\tFor the Years Ended December 31\t\t\t\t\t\t\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\t\n2016\t436.4\t460.2\t458.0\t457.5\t457.5\t\t\n2017\t\t443.0\t468.7\t466.0\t465.9\t\t\n2018\t\t\t463.6\t501.5\t497.4\t\t\n2019\t\t\t\t525.8\t585.7\t\t\n2020\t\t\t\t\t542.2\t\t\nTotal\t\t\t\t\t2548.7\t\t\nOutstanding Loss and Allocated LAE Reserves on Accident Years before 2016 Net of Reinsurance\t\t\t\t\t1.6\t\t\nLoss and Allocated LAE Reserves Net of Reinsurance\t\t\t\t\t53.5\t\t\n", "q10k_tbl_63": "DOLLARS IN MILLIONS EXCEPT CUMULATIVE REPORTED CLAIMS\t\t\t\t\t\tAs of December 31 2020\t\n\tCumulative Incurred Losses and Allocated LAE Net of Reinsurance For the Years Ended December 31\t\t\t\t\tTotal of IBNR Liabilities Plus Expected Development on Reported Claims\tCumulative Number of Reported Claims\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\n2016\t120.5\t112.4\t115.6\t117.7\t115.6\t1.1\t20427\n2017\t\t120.5\t120.0\t118.3\t114.3\t2.9\t19951\n2018\t\t\t123.2\t116.5\t113.0\t12.6\t20146\n2019\t\t\t\t128.4\t126.1\t19.4\t19404\n2020\t\t\t\t\t140.5\t60.5\t16457\nTotal\t\t\t\t\t609.5\t\t\n\tCumulative Paid Losses and Allocated LAE Net of Reinsurance and Indemnification\t\t\t\t\t\t\n\tFor the Years Ended December 31\t\t\t\t\t\t\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\t\n2016\t36.2\t71.6\t89.7\t102.3\t109.7\t\t\n2017\t\t36.3\t72.3\t90.7\t101.7\t\t\n2018\t\t\t36.8\t68.8\t88.1\t\t\n2019\t\t\t\t32.4\t75.7\t\t\n2020\t\t\t\t\t37.0\t\t\nTotal\t\t\t\t\t412.2\t\t\nOutstanding Loss and Allocated LAE Reserves on Accident Years before 2016 Net of Reinsurance\t\t\t\t\t11.8\t\t\nLoss and Allocated LAE Reserves Net of Reinsurance\t\t\t\t\t209.1\t\t\n", "q10k_tbl_64": "DOLLARS IN MILLIONS EXCEPT CUMULATIVE REPORTED CLAIMS\t\t\t\t\t\tAs of December 31 2020\t\n\tCumulative Incurred Losses and Allocated LAE Net of Reinsurance For the Years Ended December 31\t\t\t\t\tTotal of IBNR Liabilities Plus Expected Development on Reported Claims\tCumulative Number of Reported Claims\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\n2016\t24.2\t24.2\t24.1\t24.2\t24.2\t0\t10561\n2017\t\t24.2\t23.5\t23.5\t23.4\t0.1\t9792\n2018\t\t\t23.6\t23.5\t23.6\t0.1\t9567\n2019\t\t\t\t26.0\t27.1\t(0.3)\t9290\n2020\t\t\t\t\t31.9\t4.6\t10936\nTotal\t\t\t\t\t130.2\t\t\n\tCumulative Paid Losses and Allocated LAE Net of Reinsurance and Indemnification\t\t\t\t\t\t\n\tFor the Years Ended December 31\t\t\t\t\t\t\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\t\n2016\t22.4\t24.2\t24.1\t24.2\t24.2\t\t\n2017\t\t22.2\t23.5\t23.4\t23.4\t\t\n2018\t\t\t21.7\t23.6\t23.6\t\t\n2019\t\t\t\t23.0\t26.9\t\t\n2020\t\t\t\t\t26.2\t\t\nTotal\t\t\t\t\t124.3\t\t\nOutstanding Loss and Allocated LAE Reserves on Accident Years before 2016 Net of Reinsurance\t\t\t\t\t0.4\t\t\nLoss and Allocated LAE Reserves Net of Reinsurance\t\t\t\t\t6.3\t\t\n", "q10k_tbl_65": "DOLLARS IN MILLIONS EXCEPT CUMULATIVE REPORTED CLAIMS\t\t\t\t\t\tAs of December 31 2020\t\n\tCumulative Incurred Losses and Allocated LAE Net of Reinsurance For the Years Ended December 31\t\t\t\t\tTotal of IBNR Liabilities Plus Expected Development on Reported Claims\tCumulative Number of Reported Claims\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\n2016\t162.1\t174.5\t179.1\t176.8\t177.2\t1.6\t36766\n2017\t\t164.4\t157.8\t155.8\t158.2\t1.9\t33731\n2018\t\t\t157.6\t156.3\t161.7\t6.1\t32246\n2019\t\t\t\t172.2\t195.5\t20.0\t35891\n2020\t\t\t\t\t148.9\t45.8\t23543\nTotal\t\t\t\t\t841.5\t\t\n\tCumulative Paid Losses and Allocated LAE Net of Reinsurance\t\t\t\t\t\t\n\tFor the Years Ended December 31\t\t\t\t\t\t\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\t\n2016\t61.2\t114.6\t145.6\t161.1\t169.3\t\t\n2017\t\t59.2\t108.9\t134.1\t143.2\t\t\n2018\t\t\t55.5\t107.6\t132.7\t\t\n2019\t\t\t\t62.7\t127.9\t\t\n2020\t\t\t\t\t44.4\t\t\nTotal\t\t\t\t\t617.5\t\t\nOutstanding Loss and Allocated LAE Reserves on Accident Years before 2016 Net of Reinsurance\t\t\t\t\t8.6\t\t\nLoss and Allocated LAE Reserves Net of Reinsurance\t\t\t\t\t232.6\t\t\n", "q10k_tbl_66": "DOLLARS IN MILLIONS EXCEPT CUMULATIVE REPORTED CLAIMS\t\t\t\t\t\tAs of December 31 2020\t\n\tCumulative Incurred Losses and Allocated LAE Net of Reinsurance For the Years Ended December 31\t\t\t\t\tTotal of IBNR Liabilities Plus Expected Development on Reported Claims\tCumulative Number of Reported Claims\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\n2016\t106.6\t106.6\t106.3\t106.2\t106.2\t0\t65191\n2017\t\t109.2\t105.8\t105.2\t105.1\t0\t62385\n2018\t\t\t113.9\t111.0\t110.4\t(0.1)\t60707\n2019\t\t\t\t126.4\t125.8\t(0.7)\t63776\n2020\t\t\t\t\t96.1\t(0.7)\t43539\nTotal\t\t\t\t\t543.6\t\t\n\tCumulative Paid Losses and Allocated LAE Net of Reinsurance\t\t\t\t\t\t\n\tFor the Years Ended December 31\t\t\t\t\t\t\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\t\n2016\t105.2\t106.9\t106.3\t106.3\t106.2\t\t\n2017\t\t104.4\t106.1\t105.2\t105.1\t\t\n2018\t\t\t107.2\t111.4\t110.4\t\t\n2019\t\t\t\t120.7\t126.5\t\t\n2020\t\t\t\t\t90.9\t\t\nTotal\t\t\t\t\t539.1\t\t\nOutstanding Loss and Allocated LAE Reserves on Accident Years before 2016 Net of Reinsurance\t\t\t\t\t(0.1)\t\t\nLoss and Allocated LAE Reserves Net of Reinsurance\t\t\t\t\t4.4\t\t\n", "q10k_tbl_67": "DOLLARS IN MILLIONS EXCEPT CUMULATIVE REPORTED CLAIMS\t\t\t\t\t\tAs of December 31 2020\t\n\tCumulative Incurred Losses and Allocated LAE Net of Reinsurance For the Years Ended December 31\t\t\t\t\tTotal of IBNR Liabilities Plus Expected Development on Reported Claims\tCumulative Number of Reported Claims\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\n2016\t200.3\t201.7\t204.2\t202.2\t201.1\t0.3\t20019\n2017\t\t261.2\t259.5\t245.2\t243.8\t0.6\t20796\n2018\t\t\t185.9\t183.0\t183.6\t3.0\t17104\n2019\t\t\t\t162.9\t161.8\t4.1\t15311\n2020\t\t\t\t\t157.0\t17.5\t12529\nTotal\t\t\t\t\t947.3\t\t\n\tCumulative Paid Losses and Allocated LAE Net of Reinsurance\t\t\t\t\t\t\n\tFor the Years Ended December 31\t\t\t\t\t\t\nAccident Year\t2016\t2017\t2018\t2019\t2020\t\t\n2016\t141.2\t190.1\t195.8\t198.9\t199.5\t\t\n2017\t\t165.8\t242.5\t235.7\t239.5\t\t\n2018\t\t\t127.4\t180.2\t180.0\t\t\n2019\t\t\t\t111.1\t150.4\t\t\n2020\t\t\t\t\t94.6\t\t\nTotal\t\t\t\t\t864.0\t\t\nOutstanding Loss and Allocated LAE Reserves on Accident Years before 2016 Net of Reinsurance\t\t\t\t\t5.1\t\t\nLoss and Allocated LAE Reserves Net of Reinsurance\t\t\t\t\t88.4\t\t\n", "q10k_tbl_68": "DOLLARS IN MILLIONS\t2020\nProperty and Casualty Insurance Reserves Net of Reinsurance:\t\nSpecialty Personal Automobile Insurance-Liability\t1112.5\nSpecialty Personal Automobile Insurance-Physical Damage\t53.5\nCommercial Automobile Insurance-Liability\t209.1\nCommercial Automobile Insurance-Physical Damage\t6.3\nPreferred Personal Automobile Insurance-Liability\t232.6\nPreferred Personal Automobile Insurance-Physical Damage\t4.4\nHomeowners Insurance\t88.4\nOther\t49.9\nTotal\t1756.7\nReinsurance Recoverables on Unpaid Losses and Allocated LAE:\t\nSpecialty Personal Automobile Insurance-Liability\t9.3\nCommercial Automobile Insurance-Liability\t5.8\nPreferred Personal Automobile Insurance-Liability\t23.2\nHomeowners Insurance\t7.6\nOther\t4.2\nTotal\t50.1\nUnallocated LAE\t175.7\nProperty and Casualty Insurance Reserves Gross of Reinsurance\t1982.5\n", "q10k_tbl_69": "Average Annual Percentage Payout of Incurred Claims by Age Net of Reinsurance (Unaudited)\t\t\t\t\t\nYears\t1\t2\t3\t4\t5\nSpecialty Personal Automobile Insurance-Liability\t41.9%\t80.9%\t92.6%\t96.7%\t98.6%\nSpecialty Personal Automobile Insurance-Physical Damage\t93.0%\t100.8%\t100.1%\t100.0%\t100.0%\nCommercial Automobile Insurance-Liability\t29.5%\t61.5%\t78.3%\t88.7%\t94.9%\nCommercial Automobile Insurance-Physical Damage\t89.3%\t99.9%\t99.9%\t100.0%\t100.0%\nPreferred Personal Automobile Insurance-Liability\t33.6%\t66.4%\t83.0%\t90.7%\t95.5%\nPreferred Personal Automobile Insurance-Physical Damage\t97.2%\t100.8%\t100.1%\t100.0%\t100.0%\nHomeowners Insurance\t67.3%\t96.3%\t97.4%\t98.6%\t99.2%\n", "q10k_tbl_70": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nBeginning Property and Casualty Insurance Reserves:\t\t\t\nGross of Reinsurance at Beginning of Year\t1969.8\t1874.9\t1016.8\nLess Reinsurance Recoverables at Beginning of Year\t65.6\t101.9\t53.1\nProperty and Casualty Insurance Reserves Net of Reinsurance at Beginning of Year\t1904.2\t1773.0\t963.7\nProperty and Casualty Insurance Reserves Acquired Net of Reinsurance\t0\t3.6\t695.1\nIncurred Losses and LAE related to:\t\t\t\nCurrent Year\t2873.6\t2879.5\t2093.4\nPrior Years\t36.4\t(71.1)\t(7.4)\nTotal Incurred Losses and LAE\t2910.0\t2808.4\t2086.0\nPaid Losses and LAE related to:\t\t\t\nCurrent Year:\t1679.1\t1682.1\t1300.8\nPrior Years\t1202.7\t998.7\t671.0\nTotal Paid Losses and LAE\t2881.8\t2680.8\t1971.8\nProperty and Casualty Insurance Reserves Net of Reinsurance at End of Year\t1932.4\t1904.2\t1773.0\nPlus Reinsurance Recoverables at End of Year\t50.1\t65.6\t101.9\nProperty and Casualty Insurance Reserves Gross of Reinsurance at End of Year\t1982.5\t1969.8\t1874.9\n", "q10k_tbl_71": "(Dollars in Millions)\tReceivables from Policyholders Net of Allowance for Expected Credit Losses\tAllowance for Expected Credit Losses\nBalance at Beginning of Year\t1117.1\t22.3\nProvision for Expected Credit Losses\t\t45.5\nWrite-offs of Uncollectible Receivables from Policyholders\t\t(46.9)\nBalance at End of Period\t1194.5\t20.9\n", "q10k_tbl_72": "DOLLARS IN MILLIONS\tDec 31 2020\tDec 31 2019\nFHLB Funding Agreements\t407.8\t243.4\nOther\t59.2\t66.4\nTotal\t467.0\t309.8\n", "q10k_tbl_73": "DOLLARS IN MILLIONS\tDec 31 2020\tDec 31 2019\nLiability under Funding Agreements\t407.8\t243.4\nFair Value of Collateral Pledged\t530.5\t287.8\nFHLB of Chicago Common Stock Owned at Cost\t11.8\t4.9\n", "q10k_tbl_74": "DOLLARS IN MILLIONS\t2020\t2019\nTerm Loan due July 5 2023\t49.9\t49.9\n5.000% Senior Notes due September 19 2022\t278.3\t279.9\n4.350% Senior Notes due February 15 2025\t448.8\t448.6\n2.400% Senior Notes due September 30 2030\t395.8\t0\nTotal Long-term Debt Outstanding\t1172.8\t778.4\n", "q10k_tbl_75": "DOLLARS IN MILLIONS\t2020\t2019\nOperating Lease Right-of-Use Assets\t68.6\t75.6\nOperating Lease Liabilities\t89.6\t93.2\n", "q10k_tbl_76": "DOLLARS IN MILLIONS\t2020\t2019\nLease Cost:\t\t\nAmortization of Right-of-Use Assets - Finance Leases\t0.3\t0.7\nOperating Lease Cost\t20.9\t20.7\nShort-Term Lease Cost (1)\t4.6\t0.1\nTotal Expense\t25.8\t21.5\nLess: Sublease Income (2)\t0\t0.1\nTotal Lease Cost\t25.8\t21.4\n", "q10k_tbl_77": "DOLLARS IN MILLIONS\t2020\t2019\nOperating Cash Flows from Operating Leases (Fixed Payments)\t15.8\t20.0\nOperating Cash Flows from Operating Leases (Liability Reduction)\t17.5\t17.6\nFinancing Cash Flows from Finance Leases\t0.3\t0.7\nRight-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities\t11.0\t25.9\n", "q10k_tbl_78": "\t2020\t2019\nWeighted-average Remaining Lease Term - Finance Leases\t0.7 years\t1.7 years\nWeighted-average Remaining Lease Term - Operating Leases\t6.7 years\t7.0 years\nWeighted-average Discount Rate - Finance Leases\t4.0%\t4.0%\nWeighted-average Discount Rate - Operating Leases\t4.0%\t3.9%\n", "q10k_tbl_79": "DOLLARS IN MILLIONS\tFinance Leases\tOperating Leases\n2021\t0.2\t20.8\n2022\t0\t19.5\n2023\t0\t17.8\n2024\t0\t13.1\n2025\t0\t8.4\n2026 and Thereafter\t0\t24.2\nTotal Future Payments\t0.2\t103.8\nLess Discount\t0\t14.2\nPresent Value of Minimum Lease Payments\t0.2\t89.6\n", "q10k_tbl_80": "\t\t\tTotal\tMaximum\n\t\t\tNumber of Shares\tDollar Value of Shares\n\t\tAverage\tPurchased as Part\tthat May Yet Be\n\tTotal\tPrice\tof Publicly\tPurchased Under\n\tNumber of Shares\tPaid per\tAnnounced Plans\tthe Plans or Programs\nPeriod\tPurchased\tShare\tor Programs\t(Dollars in Millions)\nMarch 1 - 31 2020\t1488668\t67.98\t1488668\t142.5\nApril 1 - 30 2020\t128019\t71.85\t1616687\t133.3\nTotal\t1616687\t68.29\t1616687\t333.3\n", "q10k_tbl_81": "\t2020\t\t\t2019\t\t\t2018\t\t\nRANGE OF VALUATION ASSUMPTIONS\t\t\t\t\t\t\t\t\t\nExpected Volatility\t29.22%\t0\t37.27%\t28.97%\t0\t33.78%\t27.31%\t0\t32.15%\nRisk-free Interest Rate\t0.17\t0\t1.46\t1.35\t0\t2.60\t2.44\t0\t3.00\nExpected Dividend Yield\t1.19\t0\t1.48\t1.05\t0\t1.38\t1.16\t0\t1.72\nWEIGHTED-AVERAGE EXPECTED LIFE IN YEARS\t\t\t\t\t\t\t\t\t\nEmployee Grants\t4\t0\t6\t4\t0\t6\t4\t0\t6\n", "q10k_tbl_82": "\tShares Subject to Awards\tWeighted- average Exercise Price Per Share ($)\tWeighted- average Remaining Contractual Life (in Years)\tAggregate Intrinsic Value ($ In Millions)\nOutstanding at Beginning of the Year\t1808815\t56.53\t\t\nGranted\t375534\t75.91\t\t\nExercised\t(215700)\t45.64\t\t\nForfeited or Expired\t(67692)\t73.88\t\t\nOutstanding at December 31 2020\t1900957\t60.97\t7.11\t30.6\nVested and Expected to Vest at December 31 2020\t1823133\t60.47\t7.06\t30.3\nExercisable at December 31 2020\t1045250\t50.78\t6.06\t27.4\n", "q10k_tbl_83": "\t\t\tOutstanding\t\t\tExercisable\t\nRange of Exercise Prices ($)\t\t\tShares Subject to Awards\tWeighted- average Exercise Price Per Share ($)\tWeighted- average Remaining Contractual Life (in Years)\tShares Subject to Awards\tWeighted- average Exercise Price Per Share ($)\n20.01\t0\t30.00\t108562\t27.79\t5.03\t108562\t27.79\n30.01\t0\t40.00\t128727\t34.65\t4.42\t128727\t34.65\n40.01\t0\t50.00\t354641\t42.47\t5.75\t354641\t42.47\n50.01\t0\t60.00\t375420\t59.88\t6.89\t231918\t59.87\n60.01\t0\t70.00\t77132\t66.62\t7.26\t40295\t66.90\n70.01\t0\t80.00\t812286\t76.34\t8.44\t165104\t76.28\n80.01\t0\t90.00\t44189\t84.78\t7.97\t16003\t85.24\n20.01\t0\t90.00\t1900957\t60.97\t7.11\t1045250\t50.78\n", "q10k_tbl_84": "\tTime-based Restricted Stock Unit Awards\t\n\t\tNumber of Restricted Stock Units\t\t\t\tWeighted- average Grant-date Fair Value Per Unit\t\t\nNonvested Balance at Beginning of the Year\t\t182188\t\t\t\t71.12\t\t\nGranted\t\t68325\t\t\t\t68.38\t\t\nVested\t\t(106807)\t\t\t\t68.54\t\t\nForfeited\t\t(11680)\t\t\t\t65.37\t\t\nNonvested Balance at December 31 2020\t\t132026\t\t\t\t72.30\t\t\n", "q10k_tbl_85": "\tPSU Awards\t\n\tNumber of PSUs\tWeighted- average Grant-date Fair Value Per PSU\nNonvested Balance at Beginning of the Year\t360820\t66.42\nGranted\t340579\t74.99\nVested\t(165672)\t45.90\nForfeited\t(32870)\t79.69\nNonvested Balance at December 31 2020\t502857\t78.12\n", "q10k_tbl_86": "\tNumber of DSUs\tWeighted- average Grant-date Fair Value Per DSU\nVested Balance at Beginning of the Year\t44820\t44.74\nReduction for Shares Issued on Conversion\t0\t0\nVested Balance at December 31 2020\t44820\t44.74\n", "q10k_tbl_87": "\t2020\t2019\t2018\nDOLLARS IN MILLIONS\t\t\t\nIncome from Continuing Operations\t409.9\t531.1\t188.4\nLess Income from Continuing Operations Attributed to Participating Awards\t0.4\t1.7\t1.0\nIncome from Continuing Operations Attributed to Unrestricted Shares\t409.5\t529.4\t187.4\nDilutive Effect on Income of Equity-based Compensation Equivalent Shares\t0\t0\t0\nDiluted Income from Continuing Operations Attributed to Unrestricted Shares\t409.5\t529.4\t187.4\nSHARES IN THOUSANDS\t\t\t\nWeighted-average Unrestricted Shares Outstanding\t65636.1\t65880.9\t58149.4\nEquity-based Compensation Equivalent Shares\t1093.7\t667.2\t602.5\nWeighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution\t66729.8\t66548.1\t58751.9\nPER UNRESTRICTED SHARE IN WHOLE DOLLARS\t\t\t\nBasic Income from Continuing Operations Per Unrestricted Share\t6.24\t8.04\t3.22\nDiluted Income from Continuing Operations Per Unrestricted Share\t6.14\t7.96\t3.19\n", "q10k_tbl_88": "SHARES IN THOUSANDS\t2020\t2019\t2018\nEquity-based Compensation Equivalent Shares\t874.5\t556.4\t231.3\nWeighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution\t874.5\t556.4\t231.3\n", "q10k_tbl_89": "\tChanges in Net Unrealized Gains (Losses) on Investment Securities\t\t\t\t\t\nDOLLARS IN MILLIONS\tHaving No Credit Losses Recognized in Consolidated Statements of Income\tHaving Credit Losses Recognized in Consolidated Statements of Income\tForeign Currency Translation Adjustments\tNet Unrecognized Postretirement Benefit Costs\tGain (Loss) on Cash Flow Hedges\tTotal Accumulated Other Comprehensive Income (Loss)\nBalance at December 30 2017 As Reported\t269.7\t0\t0.2\t(72.2)\t(3.3)\t194.4\nCumulative Effect of Adoption of New Accounting Standards\t36.3\t0\t(0.4)\t(17.0)\t(0.7)\t18.2\nBalance at January 1 2018 As Adjusted\t306.0\t0\t(0.2)\t(89.2)\t(4.0)\t212.6\nOther Comprehensive Income (Loss) Before Reclassification Adjustment Net of Tax\t(169.2)\t0\t(0.1)\t(5.4)\t0.9\t(173.8)\nReclassification Adjustment for Amounts Included in Net Income Net of Tax\t(17.3)\t0\t0.3\t0\t0\t(17.0)\nOther Comprehensive Income (Loss) Net of Tax\t(186.5)\t0\t0.2\t(5.4)\t0.9\t(190.8)\nBalance at December 30 2018\t119.3\t0\t0\t(94.5)\t(3.0)\t21.8\nOther Comprehensive Income (Loss) Before Reclassification Adjustment Net of Tax\t342.4\t0\t0\t(6.1)\t0.3\t336.6\nReclassification Adjustment for Amounts Included in Net Income Net of Tax\t(22.3)\t0\t0\t0\t0\t(22.3)\nOther Comprehensive Income (Loss) Net of Tax\t320.1\t0\t0\t(6.1)\t0.3\t314.3\nBalance at December 30 2019\t439.4\t0\t0\t(100.6)\t(2.7)\t336.1\nOther Comprehensive Income (Loss) Before Reclassification Adjustment Net of Tax\t304.4\t(2.1)\t0\t4.3\t0.4\t307.0\nReclassification Adjustment for Amounts Included in Net Income Net of Tax\t(13.2)\t0\t0\t50.6\t0\t37.4\nOther Comprehensive Income (Loss) Net of Tax\t291.2\t(2.1)\t0\t54.9\t0.4\t344.4\nBalance at December 30 2020\t730.6\t(2.1)\t0\t(45.7)\t(2.3)\t680.5\n", "q10k_tbl_90": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nChanges in Net Unrealized Gains (Losses) on Investment Securities:\t\t\t\nHaving No Credit Losses Recognized in Consolidated Statements of Income\t386.7\t433.4\t(214.2)\nIncome Tax Benefit (Expense)\t(82.3)\t(91.0)\t45.0\nNet of Taxes\t304.4\t342.4\t(169.2)\nHaving Credit Losses Recognized in Consolidated Statements of Income\t(2.6)\t0\t0\nIncome Tax Benefit (Expense)\t0.5\t0\t0\nNet of Taxes\t(2.1)\t0\t0\nReclassification Adjustment for Amounts Included in Net Income\t(16.8)\t(28.1)\t(21.9)\nIncome Tax Benefit (Expense)\t3.6\t5.8\t4.6\nNet of Taxes\t(13.2)\t(22.3)\t(17.3)\nChanges in Foreign Currency Translation Adjustments\t0\t0\t0.3\nIncome Tax Benefit (Expense)\t0\t0\t(0.1)\nNet of Taxes\t0\t0\t0.2\nChanges in Net Unrecognized Postretirement Benefit Costs\t70.2\t(7.8)\t(6.9)\nIncome Tax Benefit (Expense)\t(15.3)\t1.7\t1.5\nNet of Taxes\t54.9\t(6.1)\t(5.4)\nChanges in Gain (Loss) on Cash Flow Hedges\t0.4\t0.4\t1.2\nIncome Tax Benefit (Expense)\t0\t(0.1)\t(0.3)\nNet of Taxes\t0.4\t0.3\t0.9\nTotal Other Comprehensive Income (Loss) Before Income Taxes\t437.9\t397.9\t(241.5)\nTotal Income Tax Benefit (Expense)\t(93.5)\t(83.6)\t50.7\nTotal Other Comprehensive Income (Loss) Net of Taxes\t344.4\t314.3\t(190.8)\n", "q10k_tbl_91": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nReclassification of AOCI from Net Unrealized Gains and Losses on Investments to:\t\t\t\nNet Realized Gains on Sales of Investments\t36.3\t41.9\t26.4\nImpairment Losses\t(19.5)\t(13.8)\t(4.5)\nTotal Before Income Taxes\t16.8\t28.1\t21.9\nIncome Tax Expense\t(3.6)\t(5.8)\t(4.6)\nReclassification from AOCI Net of Income Taxes\t13.2\t22.3\t17.3\nReclassification of AOCI from Unrecognized Postretirement Benefit Costs to:\t\t\t\nInterest and Other (Expenses) Income\t(70.2)\t3.0\t(1.1)\nIncome Tax Benefit (Expense)\t15.3\t(0.7)\t0.2\nReclassification from AOCI Net of Income Taxes\t(54.9)\t2.3\t(0.9)\nReclassification of AOCI from Loss on Cash Flow Hedges to:\t\t\t\nInterest and Other Expenses\t(0.4)\t(0.4)\t(0.3)\nIncome Tax Benefit\t0\t0.1\t0.1\nReclassification from AOCI Net of Income Taxes\t(0.4)\t(0.3)\t(0.2)\nTotal Reclassification from AOCI to Net Income\t(42.1)\t24.3\t16.2\n", "q10k_tbl_92": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nInvestment Income:\t\t\t\nInterest on Fixed Income Securities\t289.8\t299.4\t268.9\nDividends on Equity Securities Excluding Alternative Investments\t15.4\t22.9\t13.6\nAlternative Investments:\t\t\t\nEquity Method Limited Liability Investments\t4.9\t1.0\t11.0\nLimited Liability Investments Included in Equity Securities\t22.1\t18.0\t26.4\nTotal Alternative Investments\t27.0\t19.0\t37.4\nShort-term Investments\t5.5\t8.2\t7.0\nLoans to Policyholders\t22.1\t22.6\t22.5\nReal Estate\t9.6\t9.8\t9.6\nOther\t13.2\t1.5\t0.9\nTotal Investment Income\t382.6\t383.4\t359.9\nInvestment Expenses:\t\t\t\nReal Estate\t8.8\t9.6\t9.7\nOther Investment Expenses\t25.6\t9.5\t9.3\nTotal Investment Expenses\t34.4\t19.1\t19.0\nNet Investment Income\t348.2\t364.3\t340.9\n", "q10k_tbl_93": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nFixed Maturities:\t\t\t\nGains on Sales\t40.6\t41.1\t25.3\nLosses on Sales\t(7.9)\t(4.8)\t(11.1)\nEquity Securities:\t\t\t\nGains on Sales\t5.9\t5.8\t12.3\nLosses on Sales\t(1.9)\t(0.2)\t0\nEquity Method Limited Liability Investments:\t\t\t\nLosses on Sales\t(0.4)\t0\t0\nReal Estate:\t\t\t\nGains on Sales\t1.8\t0\t0\nOther Investments:\t\t\t\nLosses on Sales\t0\t0\t(0.1)\nNet Realized Gains on Sales of Investments\t38.1\t41.9\t26.4\nGross Gains on Sales\t48.3\t46.9\t37.6\nGross Losses on Sales\t(10.2)\t(5.0)\t(11.2)\nNet Realized Gains on Sales of Investments\t38.1\t41.9\t26.4\n", "q10k_tbl_94": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nFixed Maturities\t(16.7)\t(13.3)\t(2.0)\nEquity Securities\t(2.8)\t(0.5)\t(2.5)\nImpairment Losses\t(19.5)\t(13.8)\t(4.5)\n", "q10k_tbl_95": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nCommissions\t745.8\t708.8\t558.7\nGeneral Expenses\t307.4\t278.0\t231.9\nPremium Tax Expense\t94.2\t93.5\t71.0\nTotal Costs Incurred\t1147.4\t1080.3\t861.6\nPolicy Acquisition Costs:\t\t\t\nDeferred\t(693.4)\t(475.2)\t(481.5)\nAmortized\t641.8\t408.3\t377.1\nNet Policy Acquisition Costs Amortized (Deferred)\t(51.6)\t(66.9)\t(104.4)\nAmortization of VOBA\t4.7\t6.3\t143.3\nInsurance Expenses\t1100.5\t1019.7\t900.5\n", "q10k_tbl_96": "DOLLARS IN MILLIONS\t2020\t2019\nDeferred Income Tax Assets:\t\t\nInsurance Reserves\t18.4\t16.2\nUnearned Premium Reserves\t66.7\t64.5\nTax Capitalization of Policy Acquisition Costs\t46.6\t44.6\nPayroll and Employee Benefit Accruals\t35.6\t35.0\nNet Operating Loss Carryforwards\t1.1\t3.3\nOther\t13.4\t12.5\nTotal Deferred Income Tax Assets\t181.8\t176.1\nDeferred Income Tax Liabilities:\t\t\nInvestments\t258.8\t155.6\nDeferred Policy Acquisition Costs\t123.7\t112.9\nLife VIF and P&C Customer Relationships\t5.0\t5.3\nGoodwill and Other Intangible Assets Acquired\t35.5\t39.3\nDepreciable Assets\t42.1\t37.6\nOther\t2.4\t3.6\nTotal Deferred Income Tax Liabilities\t467.5\t354.3\nNet Deferred Income Tax Liabilities\t285.7\t178.2\n", "q10k_tbl_97": "DOLLARS IN MILLIONS\tNOL Carry-forwards\tDeferred Tax Asset\nExpiring in:\t\t\n2027\t0.8\t0.2\n2028\t4.4\t0.9\nTotal All Years\t5.2\t1.1\n", "q10k_tbl_98": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nLiabilities for Unrecognized Tax Benefits at Beginning of Year\t0\t4.4\t8.1\nAdditions for Tax Positions of Current Year\t0\t0\t0.7\nReductions for Tax Positions of Prior Years\t0\t(4.4)\t(4.4)\nLiabilities for Unrecognized Tax Benefits at End of Year\t0\t0\t4.4\n", "q10k_tbl_99": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nCurrent Income Tax Benefit (Expense)\t(86.6)\t(66.4)\t32.2\nDeferred Income Tax Expense\t(13.6)\t(68.5)\t(46.5)\n(Increase) Decrease Unrecognized Tax Benefits\t0\t4.4\t3.6\nIncome Tax Expense\t(100.2)\t(130.5)\t(10.7)\n", "q10k_tbl_100": "DOLLARS IN MILLIONS\t2020\t\t2019\t\t2018\t\nAmount\tRate\tAmount\tRate\tAmount\tRate\nStatutory Federal Income Tax Expense\t(107.1)\t21.0%\t(138.9)\t21.0%\t(41.8)\t21.0%\nTax-exempt Income and Dividends Received Deduction\t4.0\t(0.8)\t4.3\t(0.7)\t4.8\t(2.4)\nUntaxed Earnings on Company-Owned Life Insurance\t2.7\t(0.5)\t1.6\t(0.2)\t0.8\t(0.4)\nInvestment tax credits\t3.2\t(0.6)\t0\t0\t0\t0\nStock-Based Compensation\t2.2\t(0.5)\t4.4\t(0.7)\t1.4\t(0.7)\nNondeductible Executive Compensation\t(2.7)\t0.5\t(2.5)\t0.4\t(1.4)\t0.7\nTax Reform\t0\t0\t0\t0\t26.4\t(13.3)\nOther Net\t(2.5)\t0.5\t0.6\t(0.1)\t(0.9)\t0.5\nEffective Income Tax Benefit (Expense) from Continuing Operations\t(100.2)\t19.6%\t(130.5)\t19.7%\t(10.7)\t5.4%\n", "q10k_tbl_101": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nIncome Tax Benefit (Expense):\t\t\t\nContinuing Operations\t(100.2)\t(130.5)\t(10.7)\nDiscontinued Operations\t0\t0\t(0.6)\nUnrealized Depreciation (Appreciation) on Securities\t(78.3)\t(85.2)\t49.6\nForeign Currency Translation Adjustments on Investments\t0\t0\t(0.1)\nTax Effects from Postretirement Benefit Plans\t(15.3)\t1.7\t1.5\nTax Effects from Cash Flow Hedge\t0\t(0.1)\t(0.3)\nComprehensive Income Tax (Expense) Benefit\t(193.8)\t(214.1)\t39.4\n", "q10k_tbl_102": "DOLLARS IN MILLIONS\t2020\t2019\nFair Value of Plan Assets at Beginning of Year\t664.6\t525.3\nActual Return on Plan Assets\t92.1\t113.2\nEmployer Contributions\t0\t55.3\nBenefits Paid\t(145.9)\t(29.2)\nSettlement Benefits\t(205.4)\t0\nFair Value of Plan Assets at End of Year\t405.4\t664.6\nProjected Benefit Obligation at Beginning of Year\t660.5\t580.5\nInterest Cost\t16.5\t22.3\nBenefits Paid\t(145.9)\t(29.2)\nSettlement Benefits\t(205.4)\t0\nActuarial (Gains) Losses\t56.6\t86.9\nProjected Benefit Obligation at End of Year\t382.3\t660.5\nFunded Status-Plan Assets in Excess (Deficit) of Projected Benefit Obligation\t23.1\t4.1\nUnamortized Amount Reported in AOCI at End of Year\t(68.2)\t(145.7)\nAccumulated Benefit Obligation at End of Year\t382.3\t660.4\n", "q10k_tbl_103": "\t2020\t2019\nDiscount Rate\t2.56%\t3.21%\nRate of Increase in Future Compensation Levels\t3.40\t3.40\n", "q10k_tbl_104": "ASSET CATEGORY\t2020\t2019\nCorporate Bonds and Notes\t37%\t40%\nCommon and Preferred Stocks\t24\t35\nBond Exchange Traded Funds\t27\t14\nCash and Short-term Investments\t2\t2\nOther Assets\t10\t9\nTotal\t100%\t100%\n", "q10k_tbl_105": "DOLLARS IN MILLIONS\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\tMeasured at Net Asset Value\tFair Value\nFixed Maturities:\t\t\t\t\t\nU.S. Government and Government Agencies and Authorities\t68.3\t0\t0\t0\t68.3\nStates and Political Subdivisions\t0\t0.7\t0\t0\t0.7\nCorporate Bonds and Notes\t0\t81.3\t0\t0\t81.3\nEquity Securities:\t\t\t\t\t\nCommon Stocks:\t\t\t\t\t\nOther Industries\t64.8\t0\t0\t0\t64.8\nOther Equity Interests:\t\t\t\t\t\nCollective Investment Funds\t0\t0\t0\t32.1\t32.1\nBond Exchange Traded Funds\t108.6\t0\t0\t0\t108.6\nLimited Liability Companies and Limited Partnerships\t0\t0\t0\t41.6\t41.6\nShort-term Investments\t7.4\t0\t0\t0\t7.4\nReceivables and Other\t0.6\t0\t0\t0\t0.6\nTotal\t249.7\t82.0\t0\t73.7\t405.4\n", "q10k_tbl_106": "DOLLARS IN MILLIONS\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\tMeasured at Net Asset Value\tFair Value\nFixed Maturities:\t\t\t\t\t\nU.S. Government and Government Agencies and Authorities\t158.4\t0\t0\t0\t158.4\nStates and Political Subdivisions\t0\t0.1\t0\t0\t0.1\nCorporate Bonds and Notes\t0\t107.3\t0\t0\t107.3\nEquity Securities:\t\t\t\t\t\nCommon Stocks:\t\t\t\t\t\nOther Industries\t140.0\t21.5\t0\t0\t161.5\nOther Equity Interests:\t\t\t\t\t\nCollective Investment Funds\t0\t0\t0\t71.8\t71.8\nBond Exchange Traded Funds\t92.8\t0\t0\t0\t92.8\nLimited Liability Companies and Limited Partnerships\t0\t0\t0\t63.7\t63.7\nShort-term Investments\t10.0\t0\t0\t0\t10.0\nReceivables and Other\t(1.0)\t0\t0\t0\t(1.0)\nTotal\t400.2\t128.9\t0\t135.5\t664.6\n", "q10k_tbl_107": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nService Cost Earned During the Year\t0\t0\t0\nInterest Cost on Projected Benefit Obligation\t16.5\t22.3\t20.3\nExpected Return on Plan Assets\t(27.6)\t(30.6)\t(28.9)\nAmortization of Actuarial Loss\t5.6\t2.9\t4.3\nSettlement Expense\t64.1\t0\t0\nPension Expense (Income) Recognized in Consolidated Statements of Income\t58.6\t(5.4)\t(4.3)\nUnrecognized Pension Gain (Loss) Arising During the Year\t(7.8)\t4.2\t11.5\nAmortization of Accumulated Unrecognized Pension Loss\t(69.8)\t(2.9)\t(4.3)\nComprehensive Pension Expense (Income)\t(19.0)\t(4.1)\t2.9\n", "q10k_tbl_108": "\t2020\t2019\t2018\nWeighted-average Discount Rate\t2.56%\t4.28%\t3.63%\nService Cost Discount Rate\t2.42\t4.26\t3.61\nInterest Cost Discount Rate\t1.89\t3.91\t3.26\nRate of Increase in Future Compensation Levels\t3.40\t3.40\t3.40\nExpected Long Term Rate of Return on Plan Assets\t4.90\t5.70\t5.35\n", "q10k_tbl_109": "DOLLARS IN MILLIONS\tYears Ending December 31\t\t\t\t\t\n2021\t2022\t2023\t2024\t2025\t2026-2030\nEstimated Pension Benefit Payments\t15.8\t15.7\t16.5\t17.2\t17.7\t93.6\n", "q10k_tbl_110": "DOLLARS IN MILLIONS\t\t\n2020\t2019\nFair Value of Plans' Assets at Beginning of Year\t0\t0\nEmployer Contributions\t1.5\t1.1\nPlan Participants' Contributions\t0.2\t0.3\nBenefits Paid\t(1.7)\t(1.4)\nFair Value of Plan Assets at End of Year\t0\t0\nAccumulated Postretirement Benefit Obligation at Beginning of Year\t12.8\t15.0\nService Cost\t0.2\t0.2\nInterest Cost\t0.3\t0.4\nPlan Participants' Contributions\t0.2\t0.3\nBenefits Paid\t(1.7)\t(1.4)\nActuarial Gain\t1.9\t(1.7)\nAccumulated Postretirement Benefit Obligation at End of Year\t13.7\t12.8\nFunded Status-Accumulated Postretirement Benefit Obligation in Excess of Plans' Assets\t(13.7)\t(12.8)\nUnamortized Actuarial Gain Reported in AOCI at End of Year\t18.7\t23.8\n", "q10k_tbl_111": "\t2020\t2019\nDiscount Rate\t2.13%\t2.91%\nRate of Increase in Future Compensation Levels\t2.20\t2.20\n", "q10k_tbl_112": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nService Cost Earned During the Year\t0.2\t0.2\t0.2\nInterest Cost on Accumulated Postretirement Benefit Obligation\t0.3\t0.4\t0.4\nAmortization of Prior Service Credit\t(1.3)\t(1.3)\t(1.3)\nAmortization of Accumulated Unrecognized OPEB Gain\t(1.9)\t(2.4)\t(1.8)\nOPEB Income Recognized in Consolidated Statements of Income\t(2.7)\t(3.1)\t(2.5)\nUnrecognized OPEB (Gain) Loss Arising During the Year\t1.9\t(1.7)\t(3.0)\nAmortization of Prior Service Credit\t1.3\t1.3\t1.3\nAmortization of Accumulated Unrecognized OPEB Gain\t1.9\t2.4\t1.8\nComprehensive OPEB (Income) Loss\t2.4\t(1.1)\t(2.4)\n", "q10k_tbl_113": "\t2020\t2019\t2018\nWeighted-average Discount Rate\t2.96%\t4.08%\t3.36%\nService Cost Discount Rate\t2.94\t4.16\t3.52\nInterest Cost Discount Rate\t2.47\t3.69\t2.96\nRate of Increase in Future Compensation Levels\t2.20\t2.20\t2.20\n", "q10k_tbl_114": "DOLLARS IN MILLIONS\tYears Ending December 31\t\t\t\t\t\n2021\t2022\t2023\t2024\t2025\t2026-2030\nEstimated Benefit Payments:\t\t\t\t\t\t\nExcluding Medicare Part D Subsidy\t1.3\t1.3\t1.3\t1.3\t1.2\t4.6\nExpected Medicare Part D Subsidy\t0\t0\t0\t0\t0\t0\nNet Estimated Benefit Payments\t1.3\t1.3\t1.3\t1.3\t1.2\t4.6\n", "q10k_tbl_115": "DOLLARS IN MILLIONS\t2020\t2019\nSpecialty Property & Casualty Insurance\t4897.1\t4435.2\nPreferred Property & Casualty Insurance\t1711.2\t1549.8\nLife & Health Insurance\t6457.0\t5847.9\nCorporate and Other Net\t1276.6\t1156.2\nTotal Assets\t14341.9\t12989.1\n", "q10k_tbl_116": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nSpecialty Property & Casualty Insurance:\t\t\t\nSpecialty Automobile\t3031.3\t2825.6\t1889.5\nCommercial Automobile\t304.0\t252.8\t137.9\nPreferred Property & Casualty Insurance:\t\t\t\nPreferred Automobile\t431.7\t470.2\t440.2\nHomeowners\t220.7\t241.3\t250.1\nOther Personal Lines\t35.8\t38.8\t40.4\nLife & Health Insurance:\t\t\t\nLife\t385.7\t384.6\t378.4\nAccident & Health\t199.3\t190.9\t177.5\nProperty\t63.7\t68.2\t70.4\nTotal Earned Premiums\t4672.2\t4472.4\t3384.4\n", "q10k_tbl_117": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nSegment Revenues:\t\t\t\nSpecialty Property & Casualty Insurance:\t\t\t\nEarned Premiums\t3335.3\t3078.4\t2027.4\nNet Investment Income\t114.1\t107.5\t63.4\nOther Income\t1.8\t7.0\t2.4\nTotal Specialty Property & Casualty Insurance\t3451.2\t3192.9\t2093.2\nPreferred Property & Casualty Insurance:\t\t\t\nEarned Premiums\t688.2\t750.3\t730.7\nNet Investment Income\t37.7\t44.1\t61.8\nOther Income\t0.1\t0\t0\nTotal Preferred Property & Casualty Insurance\t726.0\t794.4\t792.5\nLife & Health Insurance:\t\t\t\nEarned Premiums\t648.7\t643.7\t626.3\nNet Investment Income\t198.8\t206.4\t210.9\nOther Income\t0.6\t8.5\t4.0\nTotal Life & Health Insurance\t848.1\t858.6\t841.2\nTotal Segment Revenues\t5025.3\t4845.9\t3726.9\nIncome (Loss) from Change in Fair Value of Equity and Convertible Securities\t72.1\t138.9\t(64.3)\nNet Realized Gains on the Sales of Investments\t38.1\t41.9\t26.4\nImpairment Losses\t(19.5)\t(13.8)\t(4.5)\nOther\t89.7\t26.3\t40.6\nTotal Revenues\t5205.7\t5039.2\t3725.1\n", "q10k_tbl_118": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nSegment Operating Profit (Loss):\t\t\t\nSpecialty Property & Casualty Insurance\t420.9\t355.9\t145.6\nPreferred Property & Casualty Insurance\t1.8\t52.3\t28.6\nLife & Health Insurance\t71.2\t121.9\t115.9\nTotal Segment Operating Profit\t493.9\t530.1\t290.1\nCorporate and Other Operating Profit (Loss) From:\t\t\t\nPartial Satisfaction of Judgment\t89.4\t20.1\t35.7\nOther\t(36.5)\t(31.4)\t(39.6)\nCorporate and Other Operating Profit (Loss)\t52.9\t(11.3)\t(3.9)\nAdjusted Consolidated Operating Profit (Loss)\t546.8\t518.8\t286.2\nIncome (Loss) from Change in Fair Value of Equity and Convertible Securities\t72.1\t138.9\t(64.3)\nNet Realized Gains on Sales of Investments\t38.1\t41.9\t26.4\nImpairment Losses\t(19.5)\t(13.8)\t(4.5)\nAcquisition Related Transaction Integration and Other Costs\t(63.3)\t(18.4)\t(44.7)\nPension Obligation Settlement Costs\t(64.1)\t0\t0\nLoss from Early Extinguishment of Debt\t0\t(5.8)\t0\nIncome from Continuing Operations before Income Taxes\t510.1\t661.6\t199.1\n", "q10k_tbl_119": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nSegment Net Operating Income (Loss):\t\t\t\nSpecialty Property & Casualty Insurance\t337.9\t283.1\t115.8\nPreferred Property & Casualty Insurance\t3.5\t41.9\t25.7\nLife & Health Insurance\t60.0\t98.7\t91.5\nTotal Segment Net Operating Income (Loss)\t401.4\t423.7\t233.0\nCorporate and Other Net Operating Income (Loss) From:\t\t\t\nEffects of Tax Law Changes\t0\t0\t26.4\nPartial Satisfaction of Judgment\t70.6\t15.9\t28.2\nOther\t(33.2)\t(21.3)\t(29.2)\nTotal Corporate and Other Net Operating Income (Loss)\t37.4\t(5.4)\t25.4\nAdjusted Consolidated Net Operating Income\t438.8\t418.3\t258.4\nNet Income (Loss) From:\t\t\t\nChange in Fair Value of Equity and Convertible Securities\t57.0\t109.7\t(50.8)\nNet Realized Gains on Sales of Investments\t30.1\t33.1\t20.9\nImpairment Losses\t(15.4)\t(10.9)\t(3.6)\nAcquisition Related Transaction Integration and Other Costs\t(50.0)\t(14.5)\t(36.5)\nPension Obligation Settlement Costs\t(50.6)\t0\t0\nLoss from Early Extinguishment of Debt\t0\t(4.6)\t0\nIncome from Continuing Operations\t409.9\t531.1\t188.4\n", "q10k_tbl_120": "DOLLARS IN MILLIONS\tCatastrophe Losses and LAE\t\tPercentage of Coverage\nIn Excess of\tUp to\nRetained\t0\t50.0\t-%\n1st Layer of Coverage\t50.0\t150.0\t95.0\n2nd Layer of Coverage\t150.0\t250.0\t95.0\n3rd Layer of Coverage\t250.0\t275.0\t95.0\n", "q10k_tbl_121": "DOLLARS IN MILLIONS\tCatastrophe Losses and LAE\t\tPercentage of Coverage\nIn Excess of\tUp to\nRetained\t0\t50.0\t-%\n1st Layer of Coverage\t50.0\t150.0\t95.0\n2nd Layer of Coverage\t150.0\t250.0\t95.0\n3rd Layer of Coverage\t250.0\t275.0\t95.0\n", "q10k_tbl_122": "DOLLARS IN MILLIONS\tCatastrophe Losses and LAE\t\tPercentage of Coverage\nIn Excess of\tUp to\nRetained\t0\t50.0\t-%\n1st Layer of Coverage\t50.0\t150.0\t95.0\n2nd Layer of Coverage (Tranche A)\t150.0\t250.0\t63.3\n2nd Layer of Coverage (Tranche B)\t150.0\t350.0\t31.7\n", "q10k_tbl_123": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nSpecialty Property & Casualty Insurance\t4.8\t0.2\t2.6\nPreferred Property & Casualty Insurance\t20.7\t20.2\t17.8\nLife & Health Insurance\t1.2\t0.1\t0.1\nTotal Ceded Catastrophe Reinsurance Premiums\t26.7\t20.5\t20.5\n", "q10k_tbl_124": "DOLLARS IN MILLIONS\t2020\t2019\t2018\nSpecialty Property & Casualty Insurance\t12.5\t11.6\t4.4\nPreferred Property & Casualty Insurance\t81.5\t44.6\t79.1\nLife & Health Insurance\t12.9\t3.9\t4.1\nTotal Catastrophe Losses and LAE\t106.9\t60.1\t87.6\n", "q10k_tbl_125": "DOLLARS IN MILLIONS\tFair Value Measurements\t\t\t\tTotal Fair Value\nQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\tMeasured at Net Asset Value\nFixed Maturities:\t\t\t\t\t\nU.S. Government and Government Agencies and Authorities\t134.0\t451.3\t0\t0\t585.3\nStates and Political Subdivisions\t0\t1589.5\t0\t0\t1589.5\nForeign Governments\t0\t5.2\t0\t0\t5.2\nCorporate Securities:\t\t\t\t\t\nBonds and Notes\t0\t3992.4\t433.0\t0\t4425.4\nRedeemable Preferred Stocks\t0\t1.3\t6.2\t0\t7.5\nCollateralized Loan Obligations\t0\t767.7\t0\t0\t767.7\nOther Mortgage- and Asset-backed\t0\t215.3\t10.0\t0\t225.3\nTotal Investments in Fixed Maturities\t134.0\t7022.7\t449.2\t0\t7605.9\nEquity Securities at Fair Value:\t\t\t\t\t\nPreferred Stocks:\t\t\t\t\t\nFinance Insurance and Real Estate\t0\t43.7\t0\t0\t43.7\nOther Industries\t0\t15.4\t0\t0\t15.4\nCommon Stocks:\t\t\t\t\t\nFinance Insurance and Real Estate\t8.7\t1.7\t0\t0\t10.4\nOther Industries\t0.4\t0\t0\t0\t0.4\nOther Equity Interests:\t\t\t\t\t\nExchange Traded Funds\t496.4\t0\t0\t0\t496.4\nLimited Liability Companies and Limited Partnerships\t0\t0\t0\t292.2\t292.2\nTotal Investments in Equity Securities at Fair Value\t505.5\t60.8\t0\t292.2\t858.5\nConvertible Securities at Fair Value\t0\t39.9\t0\t0\t39.9\nTotal\t639.5\t7123.4\t449.2\t292.2\t8504.3\n", "q10k_tbl_126": "DOLLARS IN MILLIONS\tFair Value Measurements\t\t\t\tTotal Fair Value\nQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\tMeasured at Net Asset Value\nFixed Maturities:\t\t\t\t\t\nU.S. Government and Government Agencies and Authorities\t144.3\t671.6\t0\t0\t815.9\nStates and Political Subdivisions\t0\t1515.8\t0\t0\t1515.8\nForeign Governments\t0\t16.8\t0\t0\t16.8\nCorporate Securities:\t\t\t\t\t\nBonds and Notes\t0\t3450.6\t409.1\t0\t3859.7\nRedeemable Preferred Stocks\t0\t0\t6.7\t0\t6.7\nCollateralized Loan Obligations\t0\t0\t618.2\t0\t618.2\nOther Mortgage- and Asset-backed\t0\t78.8\t10.2\t0\t89.0\nTotal Investments in Fixed Maturities\t144.3\t5733.6\t1044.2\t0\t6922.1\nEquity Securities at Fair Value:\t\t\t\t\t\nPreferred Stocks:\t\t\t\t\t\nFinance Insurance and Real Estate\t0\t44.5\t0\t0\t44.5\nOther Industries\t0.9\t13.8\t0\t0\t14.7\nCommon Stocks:\t\t\t\t\t\nFinance Insurance and Real Estate\t12.8\t0\t0\t0\t12.8\nOther Industries\t0.2\t0.2\t0\t0\t0.4\nOther Equity Interests:\t\t\t\t\t\nExchange Traded Funds\t586.8\t0\t0\t0\t586.8\nLimited Liability Companies and Limited Partnerships\t0\t0\t0\t248.1\t248.1\nTotal Investments in Equity Securities at Fair Value\t600.7\t58.5\t0\t248.1\t907.3\nConvertible Securities at Fair Value\t0\t37.3\t0\t0\t37.3\nTotal\t745.0\t5829.4\t1044.2\t248.1\t7866.7\n", "q10k_tbl_127": "DOLLARS IN MILLIONS\tUnobservable Input\tTotal Fair Value\tRange of Unobservable Inputs\t\t\tWeighted-average Yield\nInvestment-grade\tMarket Yield\t246.7\t1.4%\t0\t13.0%\t3.8%\nNon-investment-grade:\t\t\t\t\t\t\nSenior Debt\tMarket Yield\t111.1\t2.4\t0\t23.4\t9.5\nJunior Debt\tMarket Yield\t64.6\t3.1\t0\t27.9\t13.7\nOther\tVarious\t26.8\t\t\t\t\nTotal Level 3 Fixed Maturity Investments in Corporate Securities\t\t449.2\t\t\t\t\n", "q10k_tbl_128": "DOLLARS IN MILLIONS\tUnobservable Input\tTotal Fair Value\tRange of Unobservable Inputs\t\t\tWeighted-average Yield\nInvestment-grade\tMarket Yield\t204.2\t2.4%\t0\t8.5%\t4.1%\nNon-investment-grade:\t\t\t\t\t\t\nSenior Debt\tMarket Yield\t123.7\t2.4\t0\t21.5\t9.1\nJunior Debt\tMarket Yield\t81.3\t9.6\t0\t18.0\t13.1\nCollateralized Loan Obligations (investment-grade and non-investment-grade)\tMarket Yield\t613.5\t3.2\t0\t12.5\t5.1\nOther\tVarious\t21.5\t\t\t\t\nTotal Level 3 Fixed Maturity Investments in Corporate Securities\t\t1044.2\t\t\t\t\n", "q10k_tbl_129": "DOLLARS IN MILLIONS\t\tFixed Maturities\t\t\t\t\t\t\t\t\n\tCorporate Bonds and Notes\t\tStates and Political Sub-divisions\t\tRedeemable Preferred Stocks\t\tCollateralized Loan Obligations\t\tOther Mortgage- and Asset- backed\t\tTotal\t\t\nBalance at Beginning of Year\t\t409.1\t\t0\t\t6.7\t\t618.2\t\t10.2\t\t\t\t1044.2\t\t\nTotal Gains (Losses):\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nIncluded in Consolidated Statement of Income\t\t(9.0)\t\t0\t\t0\t\t(0.3)\t\t0\t\t\t\t(9.3)\t\t\nIncluded in Other Comprehensive Income (Loss)\t\t3.2\t\t0.1\t\t0.5\t\t(9.3)\t\t0.4\t\t\t\t(5.1)\t\t\nPurchases\t\t185.9\t\t0.6\t\t0.2\t\t53.5\t\t0\t\t\t\t240.2\t\t\nSettlements\t\t0\t\t0\t\t0\t\t0\t\t(0.1)\t\t\t\t(0.1)\t\t\nSales\t\t(165.2)\t\t0\t\t0\t\t(26.4)\t\t(0.5)\t\t\t\t(192.1)\t\t\nTransfers into Level 3\t\t9.0\t\t0\t\t0\t\t0\t\t0\t\t\t\t9.0\t\t\nTransfers out of Level 3\t\t0\t\t(0.7)\t\t(1.2)\t\t(635.7)\t\t0\t\t\t\t(637.6)\t\t\nBalance at End of Year\t\t433.0\t\t0\t\t6.2\t\t0\t\t10.0\t\t\t\t449.2\t\t\n", "q10k_tbl_130": "DOLLARS IN MILLIONS\tFixed Maturities\t\t\t\t\tTotal\nCorporate Bonds and Notes\t\tRedeemable Preferred Stocks\tCollateralized Loan Obligations\tOther Mortgage- and Asset- backed\t\t\t\t\t\nBalance at Beginning of Year\t382.6\t\t0\t504.9\t9.9\t\t\t\t\t\t\t\t\t\t\t897.4\t\t\nTotal Gains (Losses):\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nIncluded in Consolidated Statement of Income\t(6.8)\t\t0\t0.6\t0\t\t\t\t\t\t\t\t\t\t\t(6.2)\t\t\nIncluded in Other Comprehensive Income (Loss)\t10.6\t\t(0.1)\t5.3\t1.0\t\t\t\t\t\t\t\t\t\t\t16.8\t\t\nPurchases\t307.0\t\t6.8\t119.2\t0\t\t\t\t\t\t\t\t\t\t\t433.0\t\t\nSettlements\t(72.9)\t\t0\t(28.0)\t(0.7)\t\t\t\t\t\t\t\t\t\t\t(101.6)\t\t\nSales\t(211.4)\t\t0\t(2.9)\t0\t\t\t\t\t\t\t\t\t\t\t(214.3)\t\t\nTransfers into Level 3\t0\t\t0\t19.1\t0\t\t\t\t\t\t\t\t\t\t\t19.1\t\t\nTransfers out of Level 3\t0\t\t0\t0\t0\t\t\t\t\t\t\t\t\t\t\t0\t\t\nBalance at End of Year\t409.1\t\t6.7\t618.2\t10.2\t\t\t\t\t\t\t\t\t\t\t1044.2\t\t\n", "q10k_tbl_131": "\tDecember 31 2020\t\tDecember 31 2019\t\n(Dollars in Millions)\tCarrying Value\tFair Value\tCarrying Value\tFair Value\nFinancial Assets:\t\t\t\t\nLoans to Policyholders\t297.9\t297.9\t305.6\t612.4\nShort-term Investments\t875.4\t875.4\t470.9\t470.9\nMortgage Loans\t54.6\t54.6\t27.5\t27.5\nFinancial Liabilities:\t\t\t\t\nDebt\t1172.8\t1247.8\t778.4\t820.2\nPolicyholder Obligations\t407.8\t407.8\t243.4\t243.4\n", "q10k_tbl_132": "\tThree Months Ended (Unaudited)\t\t\t\tYear Ended\nDOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS\tMar 31 2020\tJun 30 2020\tSep 30 2020\tDec 31 2020\tDec 31 2020\nRevenues:\t\t\t\t\t\nEarned Premiums\t1166.4\t1085.3\t1206.5\t1214.0\t4672.2\nNet Investment Income\t85.6\t67.8\t92.1\t102.7\t348.2\nOther Income\t90.3\t1.5\t0.9\t1.9\t94.6\nIncome (Loss) from Changes in Fair Value of Equity and Convertible Securities\t(117.8)\t71.6\t45.2\t73.1\t72.1\nNet Realized Gains on Sales of Investments\t16.5\t11.7\t10.0\t(0.1)\t38.1\nImpairment Losses\t(12.0)\t(7.0)\t(1.0)\t0.5\t(19.5)\nTotal Revenues\t1229.0\t1230.9\t1353.7\t1392.1\t5205.7\nExpenses:\t\t\t\t\t\nPolicyholders' Benefits and Incurred Losses and Loss Adjustment Expenses\t835.2\t747.5\t877.5\t863.4\t3323.6\nInsurance Expenses\t271.6\t272.7\t276.9\t279.3\t1100.5\nInterest and Other Expenses\t44.5\t51.0\t47.2\t128.8\t271.5\nTotal Expenses\t1151.3\t1071.2\t1201.6\t1271.5\t4695.6\nIncome from Continuing Operations before Income Taxes\t77.7\t159.7\t152.1\t120.6\t510.1\nIncome Tax Expense\t(13.7)\t(33.6)\t(29.8)\t(23.1)\t(100.2)\nIncome from Continuing Operations\t64.0\t126.1\t122.3\t97.5\t409.9\nNet Income\t64.0\t126.1\t122.3\t97.5\t409.9\nNet Income (Loss) Per Unrestricted Share:\t\t\t\t\t\nBasic\t0.96\t1.93\t1.87\t1.49\t6.24\nDiluted\t0.95\t1.91\t1.83\t1.46\t6.14\nDividends Paid to Shareholders Per Share\t0.30\t0.30\t0.30\t0.30\t1.20\n", "q10k_tbl_133": "\tThree Months Ended (Unaudited)\t\t\t\tYear Ended\nDOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS\tMar 31 2019\tJun 30 2019\tSep 30 2019\tDec 31 2019\tDec 31 2019\nRevenues:\t\t\t\t\t\nEarned Premiums\t1074.8\t1116.6\t1135.2\t1145.8\t4472.4\nNet Investment Income\t82.7\t96.0\t91.7\t93.9\t364.3\nOther Income\t1.9\t22.7\t7.2\t3.7\t35.5\nIncome (Loss) from Changes in Fair Value of Equity and Convertible Securities\t64.4\t25.5\t9.8\t39.2\t138.9\nNet Realized Gains on Sales of Investments\t16.1\t21.3\t1.7\t2.8\t41.9\nImpairment Losses\t(3.6)\t(6.7)\t(1.8)\t(1.7)\t(13.8)\nTotal Revenues\t1236.3\t1275.4\t1243.8\t1283.7\t5039.2\nExpenses:\t\t\t\t\t\nPolicyholders' Benefits and Incurred Losses and Loss Adjustment Expenses\t765.4\t825.4\t782.6\t814.9\t3188.3\nInsurance Expenses\t234.8\t263.5\t256.0\t265.4\t1019.7\nLoss from Early Extinguishment of Debt\t0\t0\t5.8\t0\t5.8\nInterest and Other Expenses\t41.4\t38.0\t37.9\t46.5\t163.8\nTotal Expenses\t1041.6\t1126.9\t1082.3\t1126.8\t4377.6\nIncome (Loss) from Continuing Operations before Income Taxes\t194.7\t148.5\t161.5\t156.9\t661.6\nIncome Tax Benefit (Expense)\t(39.4)\t(26.4)\t(32.5)\t(32.2)\t(130.5)\nNet Income\t155.3\t122.1\t129.0\t124.7\t531.1\nIncome from Continuing Operations Per Unrestricted Share:\t\t\t\t\t\nBasic\t2.38\t1.87\t1.93\t1.87\t8.04\nDiluted\t2.35\t1.84\t1.91\t1.85\t7.96\nNet Income Per Unrestricted Share:\t\t\t\t\t\nBasic\t2.38\t1.87\t1.93\t1.87\t8.04\nDiluted\t2.35\t1.84\t1.91\t1.85\t7.96\nDividends Paid to Shareholders Per Share\t0.25\t0.25\t0.25\t0.28\t1.03\n", "q10k_tbl_134": "Plan Category\tNumber of Securities to be Issued Upon Exercise of Outstanding Options Warrants and Rights\tWeighted-Average Exercise Price of Outstanding Options Warrants and Rights\tNumber of Securities Remaining Available for Future Issuance Under Equity Compensation Plans or Programs (1)\nEquity Compensation Plans Approved by Security Holders\t1900957\t60.97\t6734289\nEquity Compensation Plans Not Approved by Security Holders\t0\t0\t0\nTotal\t1900957\t60.97\t6734289\n", "q10k_tbl_135": "\t\tIncorporated by Reference\t\t\t\t\nExhibit Number\tExhibit Description\tForm\tFile Number\tExhibit\tFiling Date\tFiled or Furnished Herewith\n3.1\tRestated Certificate of Incorporation\t8-K\t001-18298\t3.2\tAugust 8 2014\t\n3.2\tAmended and Restated Bylaws of Kemper Corporation\t8-K\t001-18298\t3.1\tJune 8 2020\t\n4.1\tIndenture dated as of February 27 2014 by and between Kemper Corporation and The Bank of New York Mellon Trust Company N.A. as Trustee\t8-K\t001-18298\t4.1\tFebruary 27 2014\t\n4.2\tSecond Supplemental Indenture dated as of February 24 2015 to the Indenture dated as of February 27 2014 between Kemper Corporation and The Bank of New York Mellon Trust Company N.A. as Trustee (including the form of 4.350% Senior Notes due 2025)\t8-K\t001-18298\t4.2\tFebruary 24 2015\t\n4.3\tForm of Senior Indenture dated as of August 6 2010 by and between Infinity Property and Casualty Corporation and U.S. Bank National Association as Trustee\tS-3\t333-168605\t4.4\tAugust 6 2010\t\n4.4\tFirst Supplemental Indenture dated as of September 17 2012 by and between Infinity Property and Casualty Corporation and U.S. Bank National Association as Trustee\t8-K\t000-50167\t4.1\tSeptember 17 2012\t\n4.5\tGuarantee by Kemper Corporation of the 5.000% Senior Notes due 2022 of Infinity Property and Casualty Corporation\t8-K\t001-18298\t4.1\tDecember 3 2018\t\n4.6\tIndenture dated as of September 29 2020 by and between the Company and U.S. Bank National Association.\t8-K\t001-18298\t4.1\tSeptember 29 2020\t\n4.7\tFirst Supplemental Indenture dated as of September 29 2020 by and between the Company and U.S. Bank National Association.\t8-K\t001-18298\t4.2\tSeptember 29 2020\t\n4.8\tForm of Certificate Representing Shares of Kemper Corporation Common Stock\t10-K\t001-18298\t4.7\tFebruary 20 2019\t\n4.9\tDescription of Capital Stock\t\t\t\t\tX\n10.1\tSecond Amended and Restated Credit Agreement by and among Kemper Corporation the lenders party thereto JP Morgan Chase Bank N.A. as administrative agent and syndication agent and Bank of America N.A. and Wells Fargo Bank National Association as syndication agents\t8-K\t001-18298\t10.1\tJune 12 2018\t\n10.2\tAdvances and Security Agreement and Addendum to Advances and Security Agreement effective as of December 31 2013 between Trinity Universal Insurance Company and the Federal Home Loan Bank of Dallas\t10-K\t001-18298\t10.2\tFebruary 14 2014\t\n", "q10k_tbl_136": "\t\tIncorporated by Reference\t\t\t\t\nExhibit Number\tExhibit Description\tForm\tFile Number\tExhibit\tFiling Date\tFiled or Furnished Herewith\n10.3\tAdvances Collateral Pledge and Security Agreement dated as of March 18 2014 between United Insurance Company of America and the Federal Home Loan Bank of Chicago\t8-K\t001-18298\t10.1\tMarch 21 2014\t\n10.4\tAdvances and Security Agreement effective August 14 2020 between Alliance United Insurance Company and the Federal Home Loan Bank of San Francisco.\t8-K/A\t001-18298\t10.1\tAugust 20 2020\t\n10.5\tTerm Loan Credit Agreement dated as of June 4 2019 among Kemper Corporation the lenders party thereto PNC Bank National Association as Administrative Agent PNC Capital Markets LLC as Sole Bookrunner and Joint Lead Arranger and BMO Capital Markets Corp. as Joint Lead Arranger\t8-K\t001-18298\t10.1\tJune 7 2019\t\n10.6*\tKemper Pension Equalization Plan as amended and restated effective August 25 2011 as amended by Amendment No. 2 effective September 16 2013\t10-K\t001-18298\t10.3\tFebruary 14 2014\t\n10.7*\tKemper Supplemental Retirement Plan as amended and restated effective September 22 2016\t10-K\t001-18298\t10.5\tFebruary 13 2017\t\n10.8*\tKemper Non-Qualified Deferred Compensation Plan as amended and restated effective March 16 2016\t10-Q\t001-18298\t10.3\tMay 5 2016\t\n10.9*\tKemper 2011 Omnibus Equity Plan as amended and restated effective October 30 2013\t10-Q\t001-18298\t10.1\tOctober 31 2013\t\n10.10*\tKemper 2011 Omnibus Equity Plan as amended and restated effective February 8 2017\t10-K\t001-18298\t10.17\tFebruary 13 2017\t\n10.11*\tForm of Stock Option and SAR Agreement for Non-employee Directors as of August 25 2011 under the Kemper 2011 Omnibus Equity Plan\t10-K\t001-18298\t10.13\tFebruary 17 2012\t\n10.12*\tForm of Stock Option and SAR Agreement for Non-employee Directors as of May 1 2013 under the Kemper 2011 Omnibus Equity Plan\t10-Q\t001-18298\t10.1\tMay 2 2013\t\n10.13*\tForm of Deferred Stock Unit Agreement for Non-employee Directors as of May 1 2013 under the Kemper 2011 Omnibus Equity Plan\t10-Q\t001-18298\t10.2\tMay 2 2013\t\n10.14*\tForm of Stock Option and SAR Agreement - Installment-Vesting Form as of February 4 2014 under the Kemper 2011 Omnibus Equity Plan\t10-K\t001-18298\t10.24\tFebruary 14 2014\t\n10.15*\tForm of Performance-Based Restricted Stock Unit Award Agreement (Adjusted ROE) as of February 7 2017 under the Kemper 2011 Omnibus Equity Plan\t10-K\t001-18298\t10.30\tFebruary 13 2017\t\n", "q10k_tbl_137": "\t\tIncorporated by Reference\t\t\t\t\nExhibit Number\tExhibit Description\tForm\tFile Number\tExhibit\tFiling Date\tFiled or Furnished Herewith\n10.16*\tForm of Performance-Based Restricted Stock Unit Award Agreement (Relative TSR) as of February 7 2017 under the Kemper 2011 Omnibus Equity Plan\t10-K\t001-18298\t10.29\tFebruary 13 2017\t\n10.17*\tForm of Stock Option and SAR Agreement - Installment-Vesting Form as of February 7 2017 under the Kemper 2011 Omnibus Equity Plan\t10-K\t001-18298\t10.31\tFebruary 13 2017\t\n10.18*\tForm of Performance Share Unit Award Agreement (Adjusted ROE) as of February 6 2018 under the Kemper 2011 Omnibus Equity Plan\t10-K\t001-18298\t10.34\tFebruary 13 2018\t\n10.19*\tForm of Performance Share Unit Award Agreement (Relative TSR) as of February 6 2018 under the Kemper 2011 Omnibus Equity Plan\t10-K\t001-18298\t10.35\tFebruary 13 2018\t\n10.20*\tForm of Restricted Stock Unit Award Agreement (Installment Vesting) as of February 6 2018 under the Kemper 2011 Omnibus Equity Plan\t10-K\t001-18298\t10.37\tFebruary 13 2018\t\n10.21*\tForm of Non-Qualified Stock Option and SAR Award Agreement (Installment Vesting) as of February 6 2018 under the Kemper 2011 Omnibus Equity Plan\t10-K\t001-18298\t10.39\tFebruary 13 2018\t\n10.22*\tKemper Executive Performance Plan amended and restated as of May 1 2018\t10-Q\t001-18298\t10.2\tJuly 30 2018\t\n10.23*\tForm of Non-Employee Director Restricted Stock Unit Award Agreement as of April 30 2019 under the Kemper 2011 Omnibus Equity Plan\t8-K\t001-18298\t10.1\tMay 1 2019\t\n10.24*\tForm of individual Indemnification Agreements between Kemper and its directors and executive officers\t8-K\t001-18298\t10.1\tFebruary 11 2020\t\n10.25*\tForm of Non-Employee Director Restricted Stock Unit Award Agreement as of May 5 2020 under the 2020 Omnibus Equity Plan\t8-K\t001-18298\t10.1\tMay 11 2020\t\n10.26*\tForm of Non-Qualified Stock Option and SAR Award Agreement (Cliff-Vesting) as of May 5 2020 under the 2020 Omnibus Equity Plan\t8-K\t001-18298\t10.2\tMay 11 2020\t\n10.27*\tForm of Non-Qualified Stock Option and SAR Award Agreement (Installment-Vesting) as of May 5 2020 under the 2020 Omnibus Equity Plan\t8-K\t001-18298\t10.3\tMay 11 2020\t\n10.28*\tForm of Restricted Stock Unit Award Agreement (Cliff-Vesting) as of May 5 2020 under the 2020 Omnibus Equity Plan\t8-K\t001-18298\t10.4\tMay 11 2020\t\n10.29*\tForm of Restricted Stock Unit Award Agreement (Installment-Vesting) as of May 5 2020 under the 2020 Omnibus Equity Plan\t8-K\t001-18298\t10.5\tMay 11 2020\t\n10.30*\tForm of Performance Share Unit Award Agreement (Adjusted ROE) as of May 5 2020 under the 2020 Omnibus Equity Plan\t8-K\t001-18298\t10.6\tMay 11 2020\t\n", "q10k_tbl_138": "\t\tIncorporated by Reference\t\t\t\t\nExhibit Number\tExhibit Description\tForm\tFile Number\tExhibit\tFiling Date\tFiled or Furnished Herewith\n10.31*\tForm of Performance Share Unit Award Agreement (Relative TSR) as of May 5 2020 under the 2020 Omnibus Equity Plan\t8-K\t001-18298\t10.7\tMay 11 2020\t\n10.32*\tForm of individual change in control severance agreements between Kemper and its executive officers\t10-K\t001-18298\t10.42\tFebruary 13 2017\t\n\tEach of the agreements is identical except that the multipliers for benefits related to bonus severance life insurance and health insurance are 150% 3 years 3 years and 36 months respectively for the Chief Executive Officer and 110% 2 years 2 years and 24 months respectively for the other officers.\t\t\t\t\t\n21\tSubsidiaries of Kemper Corporation\t\t\t\t\tX\n23\tConsent of Deloitte & Touche LLP\t\t\t\t\tX\n24\tPower of Attorney (included on the signature page hereof)\t\t\t\t\tX\n31.1\tCertification of Chief Executive Officer Pursuant to SEC Rule 13a-14(a)\t\t\t\t\tX\n31.2\tCertification of Chief Financial Officer Pursuant to SEC Rule 13a-14(a)\t\t\t\t\tX\n32.1\tCertification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002)\t\t\t\t\tX\n32.2\tCertification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\t\t\t\t\tX\n101.1\tXBRL Instance\t\t\t\t\tX\n101.2\tXBRL Taxonomy Extension Schema Document\t\t\t\t\tX\n101.3\tXBRL Taxonomy Extension Calculation Linkbase Document\t\t\t\t\tX\n101.4\tXBRL Taxonomy Extension Label Linkbase Document\t\t\t\t\tX\n101.5\tXBRL Taxonomy Extension Presentation Linkbase Document\t\t\t\t\tX\n101.6\tXBRL Taxonomy Extension Definition Linkbase Document\t\t\t\t\tX\n104\tCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)\t\t\t\t\tX\n", "q10k_tbl_139": "\tAmortized Cost\tFair Value\tAmount Carried in Balance Sheet\nFixed Maturities:\t\t\t\nBonds and Notes:\t\t\t\nUnited States Government and Government Agencies and Authorities\t536.5\t585.3\t585.3\nStates and Political Subdivisions\t1404.3\t1589.5\t1589.5\nForeign Governments\t6.6\t5.2\t5.2\nCorporate Securities:\t\t\t\nOther Bonds and Notes\t3749.5\t4425.4\t4425.4\nRedeemable Preferred Stocks\t7.0\t7.5\t7.5\nCollateralized Loan Obligations\t785.1\t767.7\t767.7\nOther Mortgage- and Asset-backed\t203.7\t225.3\t225.3\nTotal Investments in Fixed Maturities\t6692.7\t7605.9\t7605.9\nEquity Securities at Fair Value:\t\t\t\nPreferred Stocks\t59.1\t59.1\t59.1\nCommon Stocks\t10.8\t10.8\t10.8\nOther Equity Interests\t788.6\t788.6\t788.6\nTotal Investments in Equity Securities\t858.5\t858.5\t858.5\nEquity Securities at Modified Cost\t40.1\tXXX.X\t40.1\nEquity Method Limited Liability Investments at Cost Plus Cumulative Undistributed Earnings\t225.3\tXXX.X\t225.3\nConvertible Securities at Fair Value\t39.9\t39.9\t39.9\nLoans Real Estate and Other Investments\t779.0\tXXX.X\t779.0\nShort-term Investments\t875.4\tXXX.X\t875.4\nTotal Investments\t9510.9\t\t10424.1\n", "q10k_tbl_140": "\tDecember 31\t\n\t2020\t2019\nASSETS\t\t\nInvestments in Subsidiaries\t4896.0\t4383.7\nFixed Maturities at Fair Value (Amortized Cost: 2020 - $91.8)\t99.8\t0\nEquity Securities at Fair Value (Cost: 2020 - $73.4; 2019 - $53.4)\t78.8\t55.7\nShort-term Investments\t508.2\t89.3\nCash\t46.0\t61.8\nOther Receivables\t1.1\t21.9\nRight-of-Use Assets\t13.4\t18.6\nOther Assets\t29.2\t21.9\nTotal Assets\t5672.5\t4652.9\nLIABILITIES AND SHAREHOLDERS' EQUITY\t\t\nTerm Loan due July 5 2023 (Fair Value: 2020 - $50.0; 2019 - $50.0)\t49.9\t49.9\nSenior Notes Payable 4.35% due 2025 (Fair Value: 2020 - $499.5; 2019 - $478.6)\t448.8\t448.6\nSenior Notes Payable 2.40% due 2030 (Fair Value: 2020 - $405.6)\t395.8\t0\nCurrent Income Tax Liability\t41.5\t55.3\nDeferred Income Tax Liability\t38.9\t32.2\nLiabilities for Benefit Plans\t47.6\t44.3\nLease Liabilities\t26.9\t31.3\nAccrued Expenses and Other Liabilities\t59.7\t19.0\nTotal Liabilities\t1109.1\t680.6\nShareholders' Equity:\t\t\nCommon Stock\t6.5\t6.7\nAdditional Paid-in Capital\t1805.2\t1819.2\nRetained Earnings\t2071.2\t1810.3\nAccumulated Other Comprehensive Income\t680.5\t336.1\nTotal Shareholders' Equity\t4563.4\t3972.3\nTotal Liabilities and Shareholders' Equity\t5672.5\t4652.9\n", "q10k_tbl_141": "\tFor the Year Ended December 31\t\t\n\t2020\t2019\t2018\nNet Investment Income\t1.4\t2.1\t2.5\nIncome from Change in Fair Value of Equity Securities\t4.3\t1.6\t1.4\nNet Realized Gains (Losses) on Sales of Investments\t0.1\t0.3\t(0.7)\nTotal Revenues\t5.8\t4.0\t3.2\nInterest Expense\t24.2\t28.5\t37.6\nLoss from Early Extinguishment of Debt\t0\t5.8\t0\nPension Settlement Expense\t64.1\t0\t0\nOther Operating (Benefits) Expenses\t(3.6)\t4.0\t26.3\nTotal Operating Expenses\t84.7\t38.3\t63.9\nLoss before Income Taxes and Equity in Net Income of Subsidiaries\t(78.9)\t(34.3)\t(60.7)\nIncome Tax Benefit\t13.4\t9.4\t12.2\nLoss before Equity in Net Income of Subsidiaries\t(65.5)\t(24.9)\t(48.5)\nEquity in Net Income of Subsidiaries\t475.4\t556.0\t238.6\nNet Income\t409.9\t531.1\t190.1\n", "q10k_tbl_142": "\tFor the Year Ended December 31\t\t\n\t2020\t2019\t2018\nNet Income\t409.9\t531.1\t190.1\nOther Comprehensive Income (Loss):\t\t\t\nChanges in Net Unrealized Gains (Losses) on Investment Securities:\t\t\t\nHaving No Credit Losses Recognized in Consolidated Statements of Income\t\t\t\nSecurities Held by Subsidiaries\t378.7\t433.2\t(214.1)\nSecurities Held by Parent\t8.0\t0.2\t(0.1)\nHaving Credit Losses Recognized in Consolidated Statements of Income\t\t\t\nSecurities Held by Subsidiaries\t(2.6)\t0\t0\nReclassification Adjustment for Amounts Included in Net Income:\t\t\t\nSecurities Held by Subsidiaries\t(16.6)\t(27.9)\t(21.9)\nSecurities Held by Parent\t(0.1)\t(0.2)\t0\nChanges in Net Unrecognized Postretirement Benefit Costs:\t\t\t\nSecurities Held by Subsidiaries\t0\t(0.6)\t0\nSecurities Held by Parent\t3.6\t(4.2)\t(8.0)\nReclassification Adjustments for Amounts Included in Net Income:\t\t\t\nPension Settlement Cost Recognized\t64.1\t0\t0\nAmortization of Unrecognized Postretirement Benefits (Costs)\t2.5\t(3.0)\t1.1\nTotal Reclassification Adjustments for Amounts Included in Net Income\t66.6\t(3.0)\t1.1\nNet Unrecognized Postretirement Benefit Costs\t70.2\t(7.8)\t(6.9)\nChanges in Foreign Currency Translation Adjustments on Investments Held by Subsidiaries\t0\t0\t0.3\nChanges in Gain (Loss) on Cash Flow Hedges\t0.4\t0.4\t1.2\nOther Comprehensive Income (Loss) before Income Taxes\t438.0\t397.9\t(241.5)\nIncome Tax Benefit (Expense):\t\t\t\nChanges in Net Unrealized Gains (Losses) on Investment Securities:\t\t\t\nHaving No Credit Losses Recognized in Consolidated Statements of Income\t\t\t\nSecurities Held by Subsidiaries\t(80.6)\t(91.0)\t45.0\nSecurities Held by Parent\t(1.7)\t0\t0\nHaving Credit Losses Recognized in Consolidated Statements of Income\t\t\t\nSecurities Held by Subsidiaries\t0.5\t0\t0\nReclassification Adjustment for Amounts Included in Net Income:\t\t\t\nSecurities Held by Subsidiaries\t3.5\t5.8\t4.6\nUnrecognized Postretirement Benefit Costs Arising During the Year\t(1.3)\t1.0\t1.7\nReclassification Adjustments for Amounts Included in Net Income:\t\t\t\nPension Settlement Cost Recognized\t(13.5)\t0\t0\nAmortization of Unrecognized Postretirement Benefit Costs\t(0.5)\t0.7\t(0.2)\nTotal Reclassification Adjustments for Amounts Included in Net Income\t(14.0)\t0.7\t(0.2)\nNet Unrecognized Postretirement Benefit Costs\t(15.3)\t1.7\t1.5\nReclassification Adjustment for Amounts Included in Net Income\t0\t0\t(0.1)\nChanges in Foreign Currency Translation Adjustments on Investments Held by Subsidiaries\t0\t0\t(0.1)\nChanges in Gain (Loss) on Cash Flow Hedges\t0\t(0.1)\t(0.3)\nIncome Tax Benefit (Expense)\t(93.6)\t(83.6)\t50.7\nOther Comprehensive Income (Loss)\t344.4\t314.3\t(190.8)\nTotal Comprehensive Income (Loss)\t754.3\t845.4\t(0.7)\n", "q10k_tbl_143": "\tFor the Year Ended December 31\t\t\n\t2020\t2019\t2018\nOperating Activities:\t\t\t\nNet Income\t409.9\t531.1\t190.1\nAdjustments to Reconcile Net Income to Net Cash Provided by Operations:\t\t\t\nEquity in Net Income of Subsidiaries\t(475.4)\t(556.0)\t(238.6)\nCash Dividends from Subsidiaries\t216.2\t239.0\t130.4\nNet Realized Investment (Gains) Losses\t(0.1)\t(0.3)\t0.7\nSettlement Costs Related to Defined Benefit Pension Plan\t64.1\t0\t0\nContribution to Defined Benefit Pension Plan\t0\t(55.3)\t(5.0)\nLoss from Early Extinguishment of Debt\t0\t5.8\t0\nDecrease (Increase) in Value of Equity and Convertible Securities at Fair Value\t(4.3)\t(1.6)\t(1.4)\nOther Net\t52.2\t9.8\t29.6\nNet Cash Provided by Operating Activities\t262.6\t172.5\t105.8\nInvesting Activities:\t\t\t\nCapital Contributed to Subsidiaries\t(62.0)\t(83.0)\t(20.0)\nCapital Distributed from Subsidiaries\t0\t85.0\t176.0\nProceeds from Sales Calls and Maturities of Fixed Maturities\t2.0\t12.7\t(0.2)\nProceeds from the Sales or Paydowns of Investments:\t\t\t\nEquity Securities\t2.2\t15.3\t67.5\nPurchases of Investments:\t\t\t\nEquity Securities\t(21.0)\t(48.9)\t(2.3)\nNet Sales (Purchases) of Short-term Investments\t(415.7)\t(23.3)\t253.4\nAcquisition of Business\t0\t0\t(564.6)\nNet Cash Provided (Used In) by Investing Activities\t(494.5)\t(42.2)\t(90.2)\nFinancing Activities:\t\t\t\nNet Proceeds from Issuance of Long-term Debt\t395.6\t49.9\t249.4\nRepayments of Long-term Debt\t0\t(185.0)\t(215.0)\nProceeds from Issuance of Common Stock Net of Transaction Costs\t0\t127.5\t0\nProceeds from Shares Issued under Employee Stock Purchase Plan\t4.4\t1.6\t0\nCommon Stock Repurchases\t(110.4)\t0\t0\nDividends and Dividend Equivalents Paid\t(78.9)\t(67.8)\t(56.4)\nOther\t5.4\t2.4\t0.9\nNet Cash Provided (Used In) by Financing Activities\t216.1\t(71.4)\t(21.1)\nIncrease (Decrease) in Cash\t(15.8)\t58.9\t(5.5)\nCash Beginning of Year\t61.8\t2.9\t8.4\nCash End of Year\t46.0\t61.8\t2.9\n", "q10k_tbl_144": "DOLLARS IN MILLIONS\t2020\t2019\nOperating Lease Right-of-Use Assets\t13.4\t18.6\nOperating Lease Liabilities\t26.9\t31.3\n", "q10k_tbl_145": "DOLLARS IN MILLIONS\tOperating Leases\n2021\t2.2\n2022\t2.4\n2023\t2.4\n2024\t2.5\n2025\t2.6\n2026 and Thereafter\t22.9\nTotal Future Payments\t35.0\nLess Discount\t8.1\nPresent Value of Minimum Lease Payments\t26.9\n", "q10k_tbl_146": "\tYear Ended Dec 31\t\t\t\t\t\t\tAt December 31\t\t\nEarned Premiums\tPremiums Written\tOther Income\tNet Investment Income\tInsurance Claims and Policy- holders' Benefits\tAmortization of Deferred Policy Acquisition Costs\tOther Insurance Expenses\tDeferred Policy Acquisition Costs\tInsurance Reserves\tUnearned Premiums\n2020\t\t\t\t\t\t\t\t\t\t\nSpecialty Property & Casualty Insurance\t3335.3\t3435.5\t1.8\t114.1\t2378.4\t497.5\t154.4\t177.4\t1544.8\t1262.9\nPreferred Property & Casualty Insurance\t688.2\t653.0\t0.1\t37.7\t503.1\t111.2\t109.9\t51.2\t411.6\t329.2\nLife & Health Insurance (1)\t648.7\tN/A\t0.6\t198.8\t442.0\t33.1\t301.8\t360.7\t3532.1\t23.0\nOther\t0\tN/A\t92.1\t(2.4)\t0.1\t0\t(107.4)\t0\t21.5\t0\nTotal\t4672.2\tN/A\t94.6\t348.2\t3323.6\t641.8\t458.7\t589.3\t5510.0\t1615.1\n2019\t\t\t\t\t\t\t\t\t\t\nSpecialty Property & Casualty Insurance\t3078.4\t3211.3\t7.0\t107.5\t2278.9\t224.9\t330.7\t161.6\t1551.0\t1158.0\nPreferred Property & Casualty Insurance\t750.3\t739.3\t0\t44.1\t508.8\t120.1\t113.2\t57.7\t388.5\t363.4\nLife & Health Insurance (1)\t643.7\tN/A\t8.5\t206.4\t402.7\t63.3\t270.7\t318.4\t3505.3\t24.1\nOther\t0\tN/A\t20.0\t6.3\t(2.1)\t0\t(103.2)\t0\t27.0\t0\nTotal\t4472.4\tN/A\t35.5\t364.3\t3188.3\t408.3\t611.4\t537.7\t5471.8\t1545.5\n2018\t\t\t\t\t\t\t\t\t\t\nSpecialty Property & Casualty Insurance\t2027.4\t2067.4\t2.4\t63.4\t1523.8\t202.0\t219.7\t\t\t\nPreferred Property & Casualty Insurance\t730.7\t748.8\t0\t61.8\t538.4\t117.2\t108.3\t\t\t\nLife & Health Insurance (1)\t626.3\tN/A\t4.0\t210.9\t404.2\t57.9\t263.2\t\t\t\nOther\t0\tN/A\t35.8\t4.8\t0.1\t0\t(50.7)\t\t\t\nTotal\t3384.4\tN/A\t42.2\t340.9\t2466.5\t377.1\t540.5\t\t\t\n", "q10k_tbl_147": "\tGross Amount\tCeded to Other Companies\tAssumed from Other Companies\tNet Amount\tPercentage of Amount Assumed to Net\nYear Ended December 31 2020\t\t\t\t\t\nLife Insurance in Force\t19706.2\t387.7\t152.3\t19470.8\t0.8%\nPremiums:\t\t\t\t\t\nLife Insurance\t386.0\t1.1\t0.8\t385.7\t0.2%\nAccident and Health Insurance\t195.5\t1.6\t5.4\t199.3\t2.7%\nProperty and Liability Insurance\t4071.1\t28.5\t44.6\t4087.2\t1.1%\nTotal Premiums\t4652.6\t31.2\t50.8\t4672.2\t1.1%\nYear Ended December 31 2019\t\t\t\t\t\nLife Insurance in Force\t19479.9\t411.6\t162.8\t19231.1\t0.8%\nPremiums:\t\t\t\t\t\nLife Insurance\t383.6\t1.2\t0.9\t383.3\t0.2%\nAccident and Health Insurance\t188.5\t1.7\t5.3\t192.1\t2.8%\nProperty and Liability Insurance\t3835.4\t24.5\t86.1\t3897.0\t2.2%\nTotal Premiums\t4407.5\t27.4\t92.3\t4472.4\t2.1%\nYear Ended December 31 2018\t\t\t\t\t\nLife Insurance in Force\t19435.1\t436.4\t172.7\t19171.4\t0.9%\nPremiums:\t\t\t\t\t\nLife Insurance\t378.2\t1.2\t1.0\t378.0\t0.3%\nAccident and Health Insurance\t174.3\t1.7\t5.3\t177.9\t3.0%\nProperty and Liability Insurance\t2778.3\t28.7\t78.9\t2828.5\t2.8%\nTotal Premiums\t3330.8\t31.6\t85.2\t3384.4\t2.5%\n"}{"bs": "q10k_tbl_47", "is": "q10k_tbl_141", "cf": "q10k_tbl_48"}None
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year endedDecember 31, 2020
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number: 001-18298
Kemper Corporation
(Exact name of registrant as specified in its charter)
DE
95-4255452
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
200 E. Randolph Street
Suite 3300
Chicago
IL
60601
(Address of principal executive offices)
(Zip Code)
(312) 661-4600
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.10 par value per share
KMPR
NYSE
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☒ No ☐
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐No☒
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☒
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of June 30, 2020, the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was $4.7 billion based on the closing sale price as reported on the New York Stock Exchange. Solely for purposes of this calculation, all executive officers and directors of the registrant are considered affiliates.
Registrant had 65,454,685 shares of common stock outstanding as of January 31, 2021.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Proxy Statement for the 2021 Annual Meeting of Shareholders are incorporated by reference into Part III.
This 2020 Annual Report on Form 10-K (the “2020 Annual Report”), including, but not limited to, the accompanying consolidated financial statements of Kemper Corporation (“Kemper” or the “Registrant”) and its subsidiaries (individually and collectively referred to herein as the “Company”) and the notes thereto appearing in Item 8 herein (the “Consolidated Financial Statements”), the Management’s Discussion and Analysis of Financial Condition and Results of Operations appearing in Item 7 herein (the “MD&A”) and the other Exhibits and Financial Statement Schedules filed as a part hereof or incorporated by reference herein, may contain or incorporate by reference information that includes or is based on forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements give expectations or forecasts of future events. The reader can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as “believe(s),” “goal(s),” “target(s),”
“estimate(s),” “anticipate(s),” “forecast(s),” “project(s),” “plan(s),” “intend(s),” “expect(s),” “might,” “may,” “could” and other terms of similar meaning. Forward-looking statements, in particular, include statements relating to future actions, prospective services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.
Any or all forward-looking statements may turn out to be wrong, and, accordingly, Kemper cautions readers not to place undue reliance on such statements. Kemper bases these statements on current expectations and the current economic environment as of the date of this 2020 Annual Report. They involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance, and actual results could differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements can be affected by inaccurate assumptions or by known or unknown risks and uncertainties that may be important in determining the Company’s actual future results and financial condition.
In addition to the factors discussed below under Item 1A., “Risk Factors,” in this 2020 Annual Report, the reader should consider the following list of general factors that, among others, could cause the Company’s actual results and financial condition to differ materially from estimated results and financial condition.
Factors related to the legal and regulatory environment in which Kemper and its subsidiaries operate
•Evolving policies, practices and interpretations by regulators and courts that increase operating costs and potential liabilities, particularly any that involve retroactive application of new requirements, including, but not limited to, initiatives related to unclaimed property laws or claims handling practices with respect to life insurance policies and the proactive use of death verification databases, and developments related to the novel coronavirus COVID-19 (“COVID-19”);
•Adverse outcomes in litigation or other legal or regulatory proceedings involving Kemper or its subsidiaries or affiliates;
•Governmental actions, including, but not limited to, implementation of new laws and regulations, and court decisions interpreting existing and future laws and regulations or policy provisions;
•Uncertainties related to regulatory approval of insurance rates, policy forms, insurance products, license applications, dividends from insurance subsidiaries, acquisitions of businesses and other matters within the purview of state insurance regulators;
•Increased costs and initiatives required to address new legal and regulatory requirements;
•Liabilities, costs and other impacts arising from developments related to cybersecurity, privacy and data governance, including, without limitation, cyber incidents that have occurred or could occur;
Factors relating to insurance claims and related reserves in the Company’s insurance businesses
•The incidence, frequency and severity of catastrophes occurring in any particular reporting period or geographic area, including natural disasters, pandemics (including COVID-19) and terrorist attacks or other man-made events;
•The frequency and severity of insurance claims (including those associated with catastrophe losses and pandemics);
•Changes in facts and circumstances affecting assumptions used in determining loss and loss adjustment expenses (“LAE”) reserves, including, but not limited to, the frequency and severity of insurance claims, changes in claims handling procedures and closure patterns, development patterns and the impacts of COVID-19;
1
•The impact of inflation on insurance claims, including, but not limited to, the effects on personal injury claims of increasing medical costs and the effects on property claims attributed to scarcity of resources available to rebuild damaged structures, including labor and materials and the amount of salvage value recovered for damaged property, and the rising costs of insurance claims from increased litigation, higher jury awards, broader definitions of liability, and other effects of societal trends referred to as social inflation;
•Developments related to insurance policy claims and coverage issues, including, but not limited to, interpretations, pronouncements or decisions by courts or regulators that may govern or influence losses incurred in connection with hurricanes and other catastrophes, including COVID-19;
•Orders, interpretations or other actions by regulators that impact the reporting, adjustment and payment of claims;
•Changes in the pricing or availability of reinsurance, or in the financial condition of reinsurers and amounts recoverable therefrom;
Factors related to the Company’s ability to compete
•Changes in the ratings of Kemper and/or its insurance company subsidiaries by rating agencies with regard to credit, financial strength, claims paying ability and other areas on which the Company is rated;
•The level of success and costs incurred in realizing or maintaining economies of scale, integrating acquired businesses and implementing significant business initiatives and the timing of the occurrence or completion of such events, including, but not limited to, those related to expense and claims savings, consolidations, reorganizations and technology;
•Absolute and relative performance of the Company’s products and services, including, but not limited to, the level of success achieved in designing and introducing new insurance products and services;
•Difficulties with technology, data and network security (including as a result of cyber attacks that have occurred or could occur), outsourcing relationships or cloud-based technology that could negatively impact the Company’s ability to conduct business, a heightened risk when substantial numbers of employees shift to work from home arrangements, such as the arrangements implemented for a vast majority of the Company’s employees and some business partners during the COVID-19 pandemic;
•The ability of the Company to maintain the availability and required performance of critical systems and manage technology initiatives cost-effectively to address insurance industry developments and regulatory requirements;
•Heightened competition, including, with respect to pricing, consolidations of existing competitors or entry of new competitors and alternate distribution channels, introduction of new technologies, use and enhancements of telematics, refinements of existing products and development of new products by current or future competitors;
•Expected benefits and synergies from mergers, acquisitions and/or divestitures that may not be realized to the extent anticipated, within expected time frames or at all, due to a number of factors including, but not limited to, the loss of key agents/brokers, customers or employees, increased costs, fees, expenses and related charges and delays caused by unanticipated developments or factors outside of the Company’s control;
•The successful formulation and execution of the Company’s plan with regard to corporate strategy and significant operational changes;
Factors relating to the business environment in which Kemper and its subsidiaries operate
•Changes in general economic conditions, including those related to, without limitation, performance of financial markets, interest rates, inflation, unemployment rates, significant global events such as the pandemic related to COVID-19, and fluctuating values of particular investments held by the Company;
•Absolute and relative performance of investments held by the Company;
•Changes in insurance industry trends and significant industry developments;
•Changes in consumer trends, including changes in number of miles driven by automobile insurance policyholders, and significant consumer or product developments;
•Changes in capital requirements, including the calculations thereof, used by regulators and rating agencies;
•Changes related to the phase out of the London Interbank Offered Rate (“LIBOR”) reference rates beginning after 2021;
•Regulatory, accounting or tax changes that may affect the cost of, or demand for, the Company’s products or services or after-tax returns from the Company’s investments;
2
•The impact of required participation in state windpools and joint underwriting associations, residual market assessments and assessments for insurance industry insolvencies including the impact of COVID-19;
•Changes in distribution channels, methods or costs resulting from changes in laws or regulations, legal proceedings or market forces;
•Increased costs and risks related to cybersecurity that could materially affect the Company’s operations including, but not limited to, data breaches, cyber attacks, virus or malware attacks, or other infiltrations or incidents affecting system integrity, availability and performance, and actions taken to minimize and remediate the risks of such events that have occurred or could occur;
Other risks and uncertainties described from time to time in Kemper’s filings with the U.S. Securities and Exchange Commission (“SEC”).
Kemper cannot provide any assurances that the results and outcomes contemplated in any forward-looking statements will be achieved or will be achieved in any particular timetable or that future events or developments will not cause such statements to be inaccurate including impacts related to COVID-19. Kemper assumes no obligation to correct or update any forward-looking statements publicly for any changes in events or developments or in the Company’s expectations or results subsequent to the date of this 2020 Annual Report. Kemper advises the reader, however, to consult any further disclosures Kemper makes on related subjects in its filings with the SEC.
3
PART I
Item 1. Business
Kemper is a diversified insurance holding company, with subsidiaries that provide automobile, homeowners, life, health, and other insurance products to individuals and businesses. Kemper’s annual reports on Form 10-K, quarterly reports on Form 10‑Q, current reports on Form 8-K and amendments thereto are accessible free of charge through Kemper’s website, kemper.com, and as soon as reasonably practicable after such materials are filed with, or furnished to, the SEC, which also maintains an Internet site at sec.gov that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC.
Registrant is a holding company incorporated under the laws of the State of Delaware in 1990, with equity securities traded on the New York Stock Exchange (the “NYSE”). On August 25, 2011, Registrant adopted its current name, Kemper Corporation, and changed its NYSE ticker symbol to KMPR. Prior to the name change, the Registrant was known as Unitrin, Inc. and traded under the NYSE ticker symbol UTR.
The Kemper family of companies is one of the nation’s leading specialized insurers. With over $14.3 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Auto, Personal Insurance, Life and Health brands. Kemper serves over 6.2 million policies, is represented by more than 30,000 agents and brokers, and has approximately 9,500 associates dedicated to meeting the ever-changing needs of its customers.
The Company is engaged, through its subsidiaries, in the property and casualty insurance and life and health insurance businesses. The Company conducts its operations through three operating segments: Specialty Property & Casualty Insurance, Preferred Property & Casualty Insurance and Life & Health Insurance. The Company conducts its operations solely in the United States.
Kemper’s subsidiaries employ approximately 9,500 associates supporting their operations, of which approximately 4,800 are employed in the Specialty Property & Casualty Insurance Segment, approximately 100 are employed in the Preferred Property & Casualty Insurance segment, approximately 3,400 are employed in the Life & Health Insurance segment and the remainder are employed in various corporate and other staff and shared functions.
Property and Casualty Insurance Business
General
The Company’s property & casualty insurance business operations are conducted primarily through the Specialty Property & Casualty Insurance and Preferred Property & Casualty Insurance segments. The Specialty Property & Casualty Insurance and Preferred Property & Casualty Insurance segments distribute their products primarily through independent agents and brokers who are paid commissions for their services. In addition, the Life and Health Insurance segment’s career agents also sell contents coverage for personal property to its customers. Collectively, these segments provide preferred automobile, specialty automobile, homeowners, renters, fire, umbrella, general liability as an endorsement to commercial automobile and other types of property and casualty insurance to individuals and commercial automobile insurance to businesses.
Property insurance indemnifies an insured with an interest in physical property for loss of, or damage to, such property. Casualty insurance primarily covers liability for damage to property of, or injury to, a person or entity other than the insured. In most cases, casualty insurance also obligates the insurance company to provide a defense for the insured in litigation arising out of events covered by the policy.
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Specialty Property & Casualty Insurance
The Specialty Property & Casualty Insurance segment, based in Chicago, Illinois, conducts business in 34 states under the Kemper Auto brand. As shown in the following table, three states provided 91% of the segment’s premium revenues in 2020.
State
Percentage of Total Premiums
California
63
%
Florida
17
Texas
11
The Specialty Property & Casualty Insurance segment provides personal and commercial automobile insurance to consumers who have had difficulty obtaining standard or preferred risk insurance, usually because of their driving records, claims experience or premium payment history. The segment also meets the insurance needs of other specialty markets such as urban and Hispanic consumers. The segment’s insurance products accounted for 71%, 69% and 60% of the Company’s consolidated insurance premiums in 2020, 2019 and 2018, respectively. The segment’s insurance products are marketed through approximately 18,150 independent agents and brokers.
Preferred Property & Casualty Insurance
The Preferred Property & Casualty Insurance segment, based in Chicago, Illinois, conducts business in 45 states and the District of Columbia. As shown in the following table, five states provided 64% of the segment’s premium revenues in 2020.
State
Percentage of Total Premiums
California
19
%
New York
19
Texas
12
North Carolina
9
Connecticut
5
The Preferred Property & Casualty Insurance segment primarily sells preferred automobile insurance, homeowners insurance and other personal insurance. The segment’s insurance products accounted for 15%, 17% and 22% of the Company’s consolidated insurance premiums in 2020, 2019 and 2018, respectively. The segment’s insurance products are marketed through approximately 5,200 independent insurance agents and brokers to individuals who have demonstrated favorable risk characteristics and loss history.
Property and Casualty Loss and Loss Adjustment Expense Reserves
The Company’s reserves for losses and LAE for property and casualty insurance (“Property and Casualty Insurance Reserves”) are reported using the Company’s estimate of its ultimate liability for losses and LAE for claims that occurred prior to the end of any given accounting period but have not yet been paid.
Property and Casualty Insurance Reserves by business segment at December 31, 2020 and 2019 were:
DOLLARS IN MILLIONS
2020
2019
Business Segments:
Specialty Property & Casualty Insurance
$
1,544.8
$
1,551.0
Preferred Property & Casualty Insurance
411.6
388.5
Life & Health Insurance
4.6
3.3
Total Business Segments
1,961.0
1,942.8
Unallocated Reserves
21.5
27.0
Total Property & Casualty Insurance Reserves
$
1,982.5
$
1,969.8
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In estimating the Company’s Property and Casualty Insurance Reserves, the Company’s actuaries exercise professional judgment and must consider, and are influenced by, many variables that are difficult to quantify. Accordingly, the process of estimating and establishing the Company’s Property and Casualty Insurance Reserves is inherently uncertain and the actual ultimate net cost of claims may vary materially from the estimated amounts reserved. See MD&A, “Critical Accounting Estimates,” under the caption “Property and Casualty Insurance Reserves for Losses and Loss Adjustment Expenses” beginning on page 63 for a discussion of the Company’s reserving process and the factors considered by the Company’s actuaries in estimating the Company’s Property and Casualty Insurance Reserves.
The Company’s goal is to ensure that its total reserves for property and casualty insurance losses and LAE are adequate to cover all costs, while minimizing variation from the time reserves for losses and LAE are initially estimated until losses and LAE are fully paid. Changes in the Company’s estimates of these losses and LAE, also referred to as “development,” will occur over time and may be material. Favorable development is recognized and reported in the Consolidated Financial Statements when the Company decreases its previous estimate of ultimate losses and LAE and results in an increase in net income in the period recognized, whereas adverse development is recognized and reported in the Consolidated Financial Statements when the Company increases its previous estimate of ultimate losses and LAE and results in a decrease in net income.
See Note 6, “Property and Casualty Insurance Reserves,” to the Consolidated Financial Statements for information about incurred and paid claims development for the 2016-2019 accident years as of December 31, 2020, net of reinsurance and indemnification, as well as cumulative claim frequency and the total of incurred but not reported (“IBNR”) liabilities, including expected development on reported claims included within the net incurred losses and allocated LAE amounts as of December 31, 2020. See Note 6, “Property and Casualty Insurance Reserves,” to the Consolidated Financial Statements for a tabular reconciliation of the three most recent annual periods setting forth the Company’s Property and Casualty Insurance Reserves as of the beginning of each year, incurred losses and LAE for insured events of the current year, changes in incurred losses and LAE for insured events of prior years, payments of losses and LAE for insured events of the current year, payments of losses and LAE for insured events of prior years and the Company’s Property and Casualty Insurance Reserves at the end of the year and additional information regarding the nature of adjustments to incurred losses and LAE for insured events of prior years.
Catastrophe Losses
Catastrophes and natural disasters are inherent risks of the property and casualty insurance business. These catastrophic events and natural disasters include, without limitation, hurricanes, tornadoes, earthquakes, hailstorms, wildfires, high winds and winter storms. Such events result in insured losses that are, and are expected to be, a material factor in the results of operations and financial position of Kemper’s property and casualty insurance companies. Further, because the level of insured losses that could occur in any one year cannot be accurately predicted, these losses contribute to material year-to-year fluctuations in the results of operations and financial position of these companies. Specific types of catastrophic events are more likely to occur at certain times within the year than others. This factor adds an element of seasonality to property and casualty insurance claims. The occurrence and severity of catastrophic events cannot be accurately predicted in any year. However, some geographic locations are more susceptible to these events than others. The Company has endeavored to manage its direct insurance exposures in certain regions that are prone to naturally occurring catastrophic events through a combination of geographic diversification, restrictions on the amount and location of new business production in such regions, modifications of, and/or limitations to coverages and deductibles for certain perils in such regions and reinsurance. The Company has adopted the industry-wide catastrophe classifications of storms and other events promulgated by Insurance Services Office, Inc. (“ISO”) to track and report losses related to catastrophes. ISO classifies a disaster as a catastrophe when the event causes $25 million or more in direct insured losses to property and affects a significant number of policyholders and insurers. ISO-classified catastrophes are assigned a unique serial number recognized throughout the insurance industry. The discussions throughout this 2020 Annual Report utilize ISO’s definition of catastrophes.
The process of estimating and establishing reserves for catastrophe losses is inherently uncertain and the actual ultimate cost of a claim, net of reinsurance recoveries, may vary materially from the estimated amount reserved. See Item 1A., “Risk Factors,” under the caption “Catastrophe losses could materially and adversely affect the Company’s results of operations, liquidity and/or financial condition” for a discussion of catastrophe risk. See Note 20, “Catastrophe Reinsurance,” to the Consolidated Financial Statements for a discussion of the factors that influence the process of estimating and establishing reserves for catastrophes.
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Reinsurance
The Company manages its exposure to catastrophes and other natural disasters through a combination of geographical diversification, restrictions on the amount and location of new business production in such regions, modifications of, and/or limitations to coverages and deductibles for certain perils in such regions and reinsurance. To limit its exposures to catastrophic events, the Company maintains a catastrophe reinsurance program for the property and casualty insurance companies. Coverage for the catastrophe reinsurance program is provided in various layers through multiple excess of loss reinsurance contracts and an aggregate excess property catastrophe reinsurance contract. The Company’s insurance subsidiaries also purchase reinsurance from the Florida Hurricane Catastrophe Fund (the “FHCF”) for hurricane losses in Florida at retentions lower than those described below for the Company’s catastrophe reinsurance program.
The 2021 catastrophe reinsurance program covering the property and casualty insurance companies is provided by (i) three multi-year excess of loss reinsurance contracts, (ii) an annual excess of loss reinsurance contract (the “2021 Annual Excess of Loss Contract”) and (iii) an annual aggregate excess property catastrophe reinsurance contract (the “2021 Aggregate Property Catastrophe Reinsurance Contract”).
Multi-year Excess of Loss Reinsurance Contracts
The first multi-year excess of loss reinsurance contract provides coverage over the three-year period of January 1, 2019 through December 31, 2021 (the “2019 Reinsurance Contract”). The 2019 Reinsurance Contract provides coverage in two layers, which together provide coverage for losses on individual catastrophes of $200 million in excess of $50 million. Under the 2019 Reinsurance Contract, the percentage of coverage is 31.66% for each year in the three-year period, and participation of each reinsurer remains the same over the entire three-year period. Accordingly, the 2019 Reinsurance Contract provides coverage for 31.66% of losses on individual catastrophes of $200 million in excess of $50 million in 2021.
The second multi-year excess of loss reinsurance contract provides coverage over the three-year period of January 1, 2020 through December 31, 2022 (the “2020 Reinsurance Contract”). The 2020 Reinsurance Contract provides coverage in two layers, which together provide coverage for losses on individual catastrophes of $200 million in excess of $50 million, which is consistent with the coverage provided under the 2019 Reinsurance Contract. Under the 2020 Reinsurance Contract, the percentage of coverage is 31.66% for each year in the three-year period, and participation of each reinsurer remains the same over the entire three-year period. Accordingly, the 2020 Reinsurance Contract provides coverage for 31.66% of losses on individual catastrophes of $200 million in excess of $50 million in 2021.
The third multi-year excess of loss reinsurance contract provides coverage over the three-year period of January 1, 2021 through December 31, 2023 (the “2021 Reinsurance Contract”). The 2021 Reinsurance Contract provides coverage in two layers, which together provide coverage for losses on individual catastrophes of $200 million in excess of $50 million, which is consistent with the coverage provided under the 2019 Reinsurance Contract and 2020 Reinsurance Contract. Under the 2021 Reinsurance Contract, the percentage of coverage is 27.66% for each year in the three-year period, and participation of each reinsurer remains the same over the entire three-year period. 4% of the 2021 coverage was placed through Reinsurance Facilities on an annual basis. Accordingly, the 2021 Reinsurance Contract provides coverage for 31.66% of losses on individual catastrophes of $200 million in excess of $50 million in 2021.
Annual Excess of Loss Reinsurance Contract
The 2021 Annual Excess of Loss Contract provides coverage for the annual period of January 1, 2021 through December 31, 2021. The 2021 Annual Excess of Loss Contract provides coverage for losses on individual catastrophes of $25 million in excess of $250 million.
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Summary of Excess of Loss Reinsurance Contracts
Coverage on individual catastrophes provided under the three multi-year excess of loss reinsurance contracts for 2021 (January 1, 2021 to December 31, 2021) and the 2021 Annual Excess of Loss Contract is provided in various layers as summarized below.
Catastrophe Losses and LAE
Combined Percentage of Coverage
DOLLARS IN MILLIONS
In Excess of
Up to
Retained
$
—
$
50.0
—
%
1st Layer of Coverage
50.0
150.0
95.0
2nd Layer of Coverage
150.0
250.0
95.0
3rd Layer of Coverage
250.0
275.0
95.0
The estimated annual premium in 2021 for the three multi-year excess of loss reinsurance contracts and the 2021 Annual Excess of Loss Contract presented in the preceding table is $12.8 million. In the event that the Company’s incurred catastrophe losses and LAE covered by its catastrophe reinsurance program exceed the retention for a particular layer, the program allows for one reinstatement of such coverage. In such an instance, the Company is required to pay a reinstatement premium to the reinsurers to reinstate the full amount of the limit available under such layer. The reinstatement premium for the first layer of coverage is a percentage of the full original premium based on the ratio of the losses in excess of the Company’s retention to the reinsurers’ coverage limit. The reinstatement premium for the second layer of coverage is a percentage of half the original premium based on the ratio of the losses in excess of the Company’s retention to the reinsurers’ coverage limit. The reinstatement premium for the third layer of coverage is a percentage of half the original premium based on the ratio of the losses in excess of the Company’s retention to the reinsurers’ coverage limit.
The 2021 Aggregate Property Catastrophe Reinsurance Contract is effective for the period of January 1, 2021 through December 31, 2021 and provides coverage for accumulated catastrophe losses of $50 million in excess of $60 million on property losses arising out of one or more of the following perils from storms or storm systems that are not named storms: (1) windstorm; (2) hail; (3) tornado and (4) fire; including ensuing collapse and water damage.
Coverage provided under the 2021 Aggregate Property Catastrophe Reinsurance Contract (January 1, 2021 to December 31, 2021) is summarized below.
Aggregate Catastrophe Losses and LAE
DOLLARS IN MILLIONS
In Excess of
Up to
Retained
$
—
$
60.0
Coverage
60.0
110.0
The estimated annual premium for the 2021 Aggregate Property Catastrophe Reinsurance Contract is $14.4 million. To maintain the same level and percentage of coverage in subsequent years as provided by the catastrophe reinsurance program in 2021, the Company’s property and casualty insurance companies will need to purchase additional reinsurance in the future for the portion of coverage expiring at the end of 2021, 2021 and 2022.
Other
In addition to the catastrophe loss exposures caused by natural events described above, Kemper’s property and casualty insurance companies are exposed to losses from catastrophic events that are not the result of acts of nature, such as acts of terrorism, the nature, occurrence and severity of which in any period cannot be accurately predicted. The companies have reinsurance coverage to address certain exposures to potential future terrorist attacks. The reinsurance coverage for certified events, as designated by the federal government, is from the Terrorist Risk Insurance Act and the coverage for non-certified events is available in the catastrophe reinsurance program for the property and casualty insurance companies. However, certain perils, such as biological, chemical, nuclear pollution or contamination, are excluded from the reinsurance coverage for non-certified events.
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Under the various reinsurance arrangements, Kemper’s property and casualty insurance companies are indemnified by reinsurers for certain losses incurred under insurance policies issued by the reinsurers. As indemnity reinsurance does not discharge an insurer from its direct obligations to policyholders on risks insured, Kemper’s property and casualty insurance companies remain directly liable. However, provided that the reinsurers meet their obligations, the net liability for Kemper’s property and casualty insurance companies is limited to the amount of risk that they retain. Kemper’s property and casualty insurance companies purchase their reinsurance only from reinsurers rated “A-” or better by A. M. Best Co., Inc. (“A.M. Best”), at the time of purchase. A.M. Best is an organization that specializes in rating insurance and reinsurance companies.
For further discussion of the reinsurance programs, see Note 20, “Catastrophe Reinsurance,” and Note 21, “Other Reinsurance,” to the Consolidated Financial Statements.
Pricing
Pricing levels for property and casualty insurance products are influenced by many factors, including the frequency and severity of claims, state regulation and legislation, competition, general business and economic conditions, including market rates of interest, inflation, expense levels, and judicial decisions. In addition, many state regulators require consideration of investment income when approving or setting rates, which could reduce underwriting margins. Further, some states have regulations that limit the after-tax return on underwriting profit allowed for an insurer and may impact the price charged for premiums or result in premium refunds. The Company derives a significant portion of its earned premiums in two such states, California and Florida. See MD&A under the caption “Specialty Property & Casualty Insurance” and “Preferred Property & Casualty Insurance.”
Competition
Based on the most recent annual data published by A.M. Best, as of the end of 2019, there were 1,107 property and casualty insurance groups in the United States. Kemper’s property and casualty group was among the top 6% of property and casualty insurance groups in the United States as measured by net written premiums, policyholders’ surplus and net admitted assets in 2019. Among all personal lines automobile insurance writers, Kemper’s property and casualty group was the 12th largest writer as measured by net written premiums in 2019.
Rankings by net admitted assets, net premiums written and capital and surplus were:
Ordinal
Percentile
Measurement
Rank
Rank
Net Admitted Assets
50
95
%
Net Written Premiums
28
97
Capital and Surplus
66
94
In 2019, the U.S. property and casualty insurance industry’s estimated net premiums written were $643 billion, of which nearly 80% were accounted for by the top 50 groups of property and casualty insurance companies. Kemper’s property and casualty insurance companies wrote less than 1% of the industry’s 2019 premium volume.
The property and casualty insurance industry is highly competitive, particularly with respect to personal automobile insurance. Kemper’s property and casualty insurance companies compete on the basis