Audit Information |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Audit Information [Abstract] | |
| Auditor Name | Deloitte & Touche LLP |
| Auditor Location | Chicago, Illinois |
| Auditor Firm ID | 34 |
Consolidated Statements of Income (Loss) - USD ($) $ in Millions |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
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| Revenues: | |||||||
| Earned Premiums | [1] | $ (4,215.9) | $ (4,529.4) | $ (5,213.4) | |||
| Net Investment Income | 407.5 | 419.7 | 422.6 | ||||
| Change in Value of Alternative Energy Partnership Investments | 2.3 | 2.9 | (19.9) | ||||
| Other Income | 8.2 | 7.2 | 9.2 | ||||
| Change in Fair Value of Equity and Convertible Securities | (2.7) | 4.7 | (79.9) | ||||
| Net Realized Investment Gains (Losses) | 13.2 | (18.6) | 4.3 | ||||
| Impairment Losses | (5.8) | (1.1) | (25.8) | ||||
| Total Revenues | 4,638.6 | 4,944.2 | 5,523.9 | ||||
| Expenses: | |||||||
| Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses | [2] | (3,013.1) | (3,820.0) | (4,432.6) | |||
| Insurance and Other Expenses | 1,180.1 | 1,365.6 | 1,403.9 | ||||
| Loss from Early Extinguishment of Debt | 0.0 | 0.0 | 3.7 | ||||
| Interest Expense | 56.9 | 56.1 | 54.7 | ||||
| Goodwill Impairment | 0.0 | 49.6 | 0.0 | ||||
| Total Expenses | 4,250.1 | 5,291.3 | 5,894.9 | ||||
| Income (Loss) before Income Taxes | 388.5 | (347.1) | (371.0) | ||||
| Income Tax Expense (Benefit) | (76.0) | 74.8 | 84.4 | ||||
| Net Income (Loss) | 312.5 | (272.3) | (286.6) | ||||
| Less: Net Loss attributable to Noncontrolling Interest | (5.3) | (0.2) | 0.0 | ||||
| Net Income (Loss) attributable to Kemper Corporation | $ 317.8 | $ (272.1) | $ (286.6) | ||||
| Net Income (Loss) attributable to Kemper Corporation Per Unrestricted Share: | |||||||
| Basic (in dollars per share) | $ 4.95 | $ (4.25) | $ (4.50) | ||||
| Diluted (in dollars per share) | $ 4.91 | $ (4.25) | $ (4.50) | ||||
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Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Amortized cost of fixed maturities | $ 7,295.0 | $ 7,565.8 |
| Allowance for credit loss, available for sale | 10.7 | 8.2 |
| Cost of equity securities | 197.1 | 209.3 |
| Premium Receivable, Allowance for Credit Loss | 2.9 | 13.9 |
| Allowance for credit losses | $ (10.7) | $ (8.2) |
| Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
| Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
| Common stock, shares outstanding (in shares) | 63,840,442 | 64,111,555 |
| Variable Interest Entity, Primary Beneficiary | ||
| Amortized cost of fixed maturities | $ 1.7 | $ 1.7 |
| Allowance for credit loss, available for sale | 0.0 | 0.0 |
| Premium Receivable, Allowance for Credit Loss | 0.0 | 0.0 |
| Allowance for credit losses | 0.0 | 0.0 |
| Consolidated Entity, Excluding VIE | ||
| Amortized cost of fixed maturities | 7,295.0 | 7,565.8 |
| Allowance for credit loss, available for sale | 10.7 | 8.2 |
| Allowance for credit losses | $ (10.7) | $ (8.2) |
Condensed Consolidated Statements of Shareholders’ Equity - USD ($) shares in Millions, $ in Millions |
Total |
Common Stock |
Paid-in Capital |
Retained Earnings |
Accumulated Other Comprehensive Loss |
Noncontrolling Interest |
|---|---|---|---|---|---|---|
| Beginning balance (in shares) at Dec. 31, 2021 | 63.7 | |||||
| Beginning balance at Dec. 31, 2021 | $ 3,129.7 | $ 6.4 | $ 1,790.7 | $ 1,734.2 | $ (401.6) | $ 0.0 |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
| Net Income (Loss) | (286.6) | (286.6) | ||||
| Other Comprehensive Loss, Net of Taxes (Note 17) | (113.3) | (113.3) | ||||
| Cash Dividends and Dividend Equivalents to Shareholders | (80.4) | (80.4) | ||||
| Shares Issued Under Employee Stock Purchase Plan (Note 18) (in shares) | 0.1 | |||||
| Shares Issued Under Employee Stock Purchase Plan (Note 18) | 4.9 | 4.9 | ||||
| Equity-based Compensation Cost (Note 22) | 17.7 | 17.7 | ||||
| Equity-based Awards, Net of Shares Exchanged (Note 11) (in shares) | 0.1 | |||||
| Equity-based Awards, Net of Shares Exchanged (Note 22) | (1.4) | (0.6) | (0.8) | |||
| Ending balance (in shares) at Dec. 31, 2022 | 63.9 | |||||
| Ending balance at Dec. 31, 2022 | 2,670.6 | $ 6.4 | 1,812.7 | 1,366.4 | (514.9) | 0.0 |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
| Net Income (Loss) | (272.3) | (272.1) | (0.2) | |||
| Other Comprehensive Loss, Net of Taxes (Note 17) | 154.1 | 154.1 | ||||
| Cash Dividends and Dividend Equivalents to Shareholders | (80.1) | (80.1) | ||||
| Shares Issued Under Employee Stock Purchase Plan (Note 18) (in shares) | 0.1 | |||||
| Shares Issued Under Employee Stock Purchase Plan (Note 18) | 4.3 | 4.3 | ||||
| Equity-based Compensation Cost (Note 22) | 29.0 | 29.0 | ||||
| Equity-based Awards, Net of Shares Exchanged (Note 11) (in shares) | 0.1 | |||||
| Equity-based Awards, Net of Shares Exchanged (Note 22) | (0.6) | (0.7) | 0.1 | |||
| Ending balance (in shares) at Dec. 31, 2023 | 64.1 | |||||
| Ending balance at Dec. 31, 2023 | 2,505.0 | $ 6.4 | 1,845.3 | 1,014.3 | (360.8) | (0.2) |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
| Net Income (Loss) | 312.5 | 317.8 | (5.3) | |||
| Other Comprehensive Loss, Net of Taxes (Note 17) | 56.3 | 56.3 | ||||
| Cash Dividends and Dividend Equivalents to Shareholders | (80.1) | (80.1) | ||||
| Repurchases of Common Stock (Note 18) (in shares) | (0.6) | |||||
| Repurchases of Common Stock (Note 18) | (38.9) | (18.5) | (20.4) | |||
| Shares Issued Under Employee Stock Purchase Plan (Note 18) | 3.8 | 3.8 | ||||
| Equity-based Compensation Cost (Note 22) | 29.2 | 29.2 | ||||
| Equity-based Awards, Net of Shares Exchanged (Note 11) (in shares) | 0.4 | |||||
| Equity-based Awards, Net of Shares Exchanged (Note 22) | (4.9) | (4.9) | ||||
| Other Changes in Non-Controlling Interest | 1.4 | 1.4 | ||||
| Ending balance (in shares) at Dec. 31, 2024 | 63.9 | |||||
| Ending balance at Dec. 31, 2024 | $ 2,784.3 | $ 6.4 | $ 1,854.9 | $ 1,231.6 | $ (304.5) | $ (4.1) |
Condensed Consolidated Statements of Shareholders’ Equity (Parenthetical) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Statement of Stockholders' Equity [Abstract] | |||
| Dividends paid to shareholders per share (in dollars per share) | $ 1.24 | $ 1.24 | $ 1.24 |
Schedule 2 - Parent Company Financial Statements - Balance Sheets (Parenthetical) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Amortized cost of fixed maturities | $ 7,295.0 | $ 7,565.8 |
| Cost of equity securities | 197.1 | 209.3 |
| Long-term Debt | $ 1,278.4 | 1,213.4 |
| Senior Notes | Senior Notes, 4.35 Percent Due February 15, 2025 | ||
| Stated interest rate, percentage | 4.35% | |
| Parent Company | ||
| Amortized cost of fixed maturities | $ 0.5 | 177.4 |
| Cost of equity securities | $ 12.8 | 11.6 |
| Parent Company | Senior Notes | Senior Notes, 4.35 Percent Due February 15, 2025 | ||
| Stated interest rate, percentage | 4.35% | |
| Long-term Debt | $ 448.1 | 440.8 |
| Parent Company | Senior Notes | Senior Notes, 2.400 Percent Due September 30, 2030 | ||
| Stated interest rate, percentage | 2.40% | |
| Long-term Debt | $ 338.9 | 313.6 |
| Parent Company | Senior Notes | Senior Notes, 3.800 Percent Due February 23, 2032 | ||
| Stated interest rate, percentage | 3.80% | |
| Long-term Debt | $ 352.2 | 338.4 |
| Parent Company | Junior Debt | 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | ||
| Stated interest rate, percentage | 5.875% | |
| Long-term Debt | $ 139.2 | $ 120.6 |
Consolidated Statements of Income (Loss) - (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
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| Earned Premiums | [1] | $ 4,215.9 | $ 4,529.4 | $ 5,213.4 | |||
| Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses | [2] | (3,013.1) | (3,820.0) | (4,432.6) | |||
| Life Insurance | |||||||
| Earned Premiums | (7.2) | (19.1) | 13.3 | ||||
| Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses | $ (19.2) | $ (30.3) | $ 8.1 | ||||
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Consolidated Statements of Cash Flows (Parenthetical) |
Feb. 15, 2022 |
|---|---|
| Senior Notes, 3.800 Percent Due February 23, 2032 | Senior Notes | |
| Stated interest rate, percentage | 3.80% |
Basis of Presentation and Significant Estimates |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation and Significant Estimates | BASIS OF PRESENTATION AND SIGNIFICANT ESTIMATES The Consolidated Financial Statements include the accounts of Kemper Corporation (“Kemper”) and its subsidiaries which include property and casualty insurance subsidiaries, life insurance subsidiaries, a health insurance subsidiary through the date of its sale of December 1, 2022 (collectively referred to herein as the “Company”), and a variable interest entity (“VIE”) in which the Company is considered the primary beneficiary. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). All intercompany accounts and transactions have been eliminated. Periodically, Kemper may acquire an additional company which then becomes one of the various subsidiaries of Kemper. When an acquisition occurs, Kemper will include the results of the acquired company in the consolidated financial results from the date of its acquisition and forward. When a disposition occurs, Kemper will include the results of the disposed subsidiary in the consolidated financial results up to the date of sale. In 2024, the Company elected to begin displaying Interest Expense as its own line item in the Consolidated Statements of Income (Loss). Other Expenses, previously reported within Interest and Other Expenses, is now combined with Insurance Expenses and reported as Insurance and Other Expenses within the Consolidated Statements of Income (Loss). Prior period amounts in the financial statements have been recasted to reflect the Company’s updated presentation. Use of Estimates The preparation of financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Many of these estimates and assumptions are common in the insurance and financial services industries; others are specific to the Company’s business and operations. Actual results could differ materially from those estimates and assumptions. The fair values of the Company’s Investments in Fixed Maturities, Investments in Convertible Securities at Fair Value, Investments in Equity Securities at Fair Value and Debt are estimated using a hierarchical framework which prioritizes and ranks market price observability of inputs used in fair value measurements. The carrying amounts reported in the Consolidated Balance Sheets approximate fair value for Cash, Short-term Investments and certain other assets and other liabilities because of their short-term nature. The actual value at which financial instruments could be sold or settled with a willing buyer or seller may differ from estimated fair values depending on a number of factors, including, but not limited to, current and future economic conditions, the quantity sold or settled, the presence of an active market and the availability of a willing buyer or seller. The Company’s portfolio also includes investments in Alternative Energy Partnerships that are accounted for under the Hypothetical Liquidation at Book Value (“HLBV”) method. Under the HLBV method, the amounts of income and loss attributed to investors reflect changes in the amounts the fund investors would hypothetically receive at each balance sheet date under the liquidation provisions of the contractual agreements of these funds. Attributing income and loss under the HLBV method requires the use of significant assumptions and forecasts to calculate the amounts that fund investors would receive upon a hypothetical liquidation. The process of estimating and establishing reserves for losses and loss adjustment expenses (“LAE”) for property and casualty insurance is inherently uncertain, and the actual ultimate net cost of known and unknown claims may vary materially from the estimated amounts reserved. The reserving process is particularly imprecise for claims involving long-tailed exposures, which may not be discovered or reported until years after the insurance policy period has ended. Management considers a variety of factors, including, but not limited to, past claims experience, current claim trends and relevant legal, economic and social conditions, in estimating reserves. A change in any one or more factors is likely to result in the ultimate net claim costs differing from the estimated reserve. Changes in such estimates may be material and would be recognized in the Consolidated Financial Statements when such estimates change. The process of determining whether an asset is impaired or recoverable relies on projections of future cash flows, operating results and market conditions. Projections are inherently uncertain, and, accordingly, actual future cash flows and operating results may differ materially from those projected. As a result, the Company’s assessment of the impairment of long-lived assets and recoverability of deferred tax assets is susceptible to the risk inherent in making such projections.
|
Summary of Accounting Policies and Accounting Changes |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Accounting Policies [Abstract] | |
| Summary of Accounting Policies and Accounting Changes | SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES Investments Investments in Fixed Maturities include bonds, notes and redeemable preferred stocks. Investments in Fixed Maturities are classified as available for sale and reported at fair value. Net Investment Income, including amortization of purchased premiums and accretion of market discounts, on Investments in Fixed Maturities is recognized as interest over the period that it is earned using the effective yield method. Unrealized appreciation or depreciation, net of applicable deferred income taxes, on fixed maturities classified as available for sale is reported in Accumulated Other Comprehensive (Loss) Income (“AOCI”) included in Shareholders’ Equity. Equity investments include common stocks, non-redeemable preferred stocks, exchange traded funds, money market mutual funds and limited liability companies, and investment partnerships in which the Company’s interests are deemed minor. Equity investments with readily determinable fair values are recorded as Equity Securities at Fair Value on the Consolidated Balance Sheets. Equity investments without readily determinable fair values are recorded as Equity Securities at Fair Value on the Consolidated Balance Sheets using the net asset value (“NAV”) per share practical expedient for estimating fair value. The changes in the fair value of such equity securities are reported as Change in Fair Value of Equity and Convertible Securities in the Consolidated Statements of Income (Loss). Dividend income on investments in common and non-redeemable preferred stocks is recognized on the ex-dividend date. Equity Method Limited Liability Investments include investments in limited liability investment companies and limited partnerships in which the Company’s interests are not deemed minor and are accounted for under the equity method of accounting whereby changes in net asset values are recorded in Net Investment Income in the Consolidated Statements of Income (Loss). Partnerships for which results are not available on a timely basis are reported on a lag. Investments in Alternative Energy Partnerships are measured using the HLBV method of equity method accounting whereby changes in the estimated amount the Company would receive upon the liquidation and distribution of the equity investment’s net assets are recorded in Net Investment Income. Tax credits allocated from investments in Alternative Energy Partnerships are recognized using the flow-through method, where credits are recorded as a reduction to tax expense in the period earned. Differences in the basis calculated under tax law and GAAP are recognized using the income statement approach, where basis differences are recorded to Income Tax Expense (Benefit) immediately, rather than deferred as adjustments to the carrying value of the asset. Partnerships for which results are not available on a timely basis are reported on a lag. Short-term Investments include certificates of deposit and other fixed maturities that mature within one year from the date of purchase, U.S. Treasury bills, money market mutual funds and overnight interest-bearing accounts. Short-term Investments are reported at cost, which approximates fair value. Company-Owned Life Insurance (“COLI”) is reported at cash surrender value with changes due to cost of insurance and investment experience reported in Net Investment Income in the Consolidated Statements of Income (Loss). Loans to Policyholders are carried at unpaid principal balance. Other Investments primarily include Equity Securities at Modified Cost, Convertible Securities at Fair Value, Real Estate, and Mortgage Loans. Equity Securities at Modified Cost do not have readily determinable fair values and are held at cost, less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. Investments in Convertible Securities include fixed maturities with equity conversion features. The Company has elected the fair value option method of accounting for investments in Convertible Securities and records Convertible Securities at fair value on the Consolidated Balance Sheets. Real Estate is carried at cost, net of accumulated depreciation. Real Estate is depreciated over the estimated useful life of the asset using the straight-line method of depreciation. Real Estate is evaluated for impairment when events or circumstances indicate the carrying value may not be recoverable. An impairment loss on real estate is recognized when the carrying value exceeds the sum of undiscounted projected future cash flows as well as the fair value, or, in the case of a property classified as held for sale, when the carrying value exceeds the fair value, net of costs to sell. Mortgage Loans are carried at amortized cost, net of a reserve for expected credit losses as applicable. Investments in Fixed Maturities - Impairment Losses For fixed maturity investments that the Company intends to sell or for which it is more likely than not that the Company will be required to sell before an anticipated recovery of value, the full amount of the impairment is reported in Impairment NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) Losses. The Company writes down the investment’s amortized cost to its fair value, and will not adjust for any subsequent recoveries. For fixed maturity investments that the Company does not intend to sell or for which it is more likely than not that the Company will not be required to sell before an anticipated recovery of value, the Company will evaluate whether a decline in fair value below the amortized cost basis has occurred from a credit loss or other factors (non-credit related). Considerations in the credit loss assessment include (1) extent to which the fair value has been less than amortized cost, (2) conditions related to the security, an industry, or a geographic area, (3) payment structure of the investment and the likelihood of the issuer's ability to make contractual cash flows, (4) defaults or other collectability concerns related to the issuer, (5) changes in the ratings assigned by a rating agency and (6) other credit enhancements that affect the investment’s expected performance. Any increase or decrease in the expected allowance for credit losses related to investments is recognized in Impairment Losses. The expected allowance for credit losses is limited by the amount that the fair value is less than the amortized cost basis and is adjusted for any additional expected credit losses or subsequent recoveries. The amortized cost basis of the investment is not adjusted for the expected allowance for credit loss. The impairment related to other factors (non-credit related) is reported in Other Comprehensive Income (Loss), net of income taxes. The Company reports accrued investment income separately for available-for-sale fixed maturity securities and has elected not to measure an allowance for credit losses on accrued investment income. Accrued investment income is written off through Impairment Losses at the time the issuer of the bond defaults or is expected to default on interest payments. Fair Value Measurements The Company uses a hierarchical framework which prioritizes and ranks the market observability of inputs used in fair value measurements. Market price observability is affected by a number of factors, including the type of asset or liability and the characteristics specific to the asset or liability being measured. Assets and liabilities with readily available, active, quoted market prices or for which fair value can be measured from actively quoted prices generally are deemed to have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. The Company classifies the inputs used to measure fair value into one of three levels as follows: •Level 1 — Quoted prices in an active market for identical assets or liabilities; •Level 2 — Observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and •Level 3 — Significant unobservable inputs for the asset or liability being measured. Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those cases, the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level of input that is significant to the entire measurement. Such determination requires significant management judgment. Deferred Policy Acquisition Costs Costs directly associated with the successful acquisition of business, principally commissions and certain premium taxes and policy issuance costs, are deferred. Commissions for servicing policies are expensed as incurred, rather than deferred and amortized. Costs deferred on property and casualty insurance contracts and short-duration health insurance contracts are amortized over the period in which premiums are earned. Deferred costs on traditional life insurance products and other long duration insurance contracts are grouped by contract type and issue year into cohorts consistent with the grouping used in estimating the associated liability. These deferred costs are amortized on a constant level basis for grouped contracts over the expected term of the related contracts to approximate straight-line amortization. The expected term of the contract used for amortization is determined using mortality and termination assumptions that are based on the Company’s experience, industry data, and other factors and are consistent with those used for the liability for future policyholder benefits. If those projected assumptions change in future periods, they will be reflected in the straight-line amortization horizon at that time. Unexpected terminations, due to higher mortality and termination experience than expected, are recognized in the current period as a reduction of the capitalized balances. Amortization of deferred policy acquisition costs is included in Insurance and Other Expenses in the Consolidated Statements of Income (Loss). NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) Deferred Profit Liability For limited-payment life products, gross premiums received in excess of net premiums are deferred at initial recognition as a deferred profit liability (“DPL”). Gross premiums are measured using assumptions consistent with those used in the measurement of the liability for future policyholder benefits, including discount rate, mortality, lapses, and expenses. The DPL is amortized and recognized as premium revenue in proportion to insurance in force for nonparticipating limited-payment contracts. Interest is accreted on the balance of the DPL using the discount rate determined at contract issuance. The Company reviews and updates its estimates of cash flows for the DPL at the same time as the estimates of cash flows for the liability for future policyholder benefits. When cash flows are updated, the updated estimates are used to recalculate the DPL at contract issuance. The recalculated DPL as of the beginning of the current reporting period is compared to the carrying amount of the DPL as of the beginning of the current reporting period, and any difference is recognized as either an increase or decrease to Earned Premiums. Goodwill The cost of an acquired entity over the fair value of net assets acquired is reported as Goodwill. Goodwill is not amortized, but rather is tested for recoverability annually or when certain triggering events require testing. Insurance Reserves Reserves for losses and LAE on property and casualty insurance coverage and health insurance coverage represent the estimated claim cost and loss adjustment expense necessary to cover the ultimate net cost of investigating and settling all losses incurred and unpaid at the end of any given accounting period. Such estimates are based on individual case estimates for reported claims and estimates for incurred but not reported (“IBNR”) losses, including expected development on reported claims. These estimates are adjusted in the aggregate for ultimate loss expectations based on historical experience patterns and current economic trends, with any change in the estimated ultimate liabilities being reported in the Consolidated Statements of Income (Loss) in the period of change. Changes in such estimates may be material. For life insurance products, the liability for future policyholder benefits is the present value of estimated future policyholder benefits to be paid to or on behalf of policyholders and certain related expenses, less the present value of estimated future net premiums to be collected from policyholders. The liability is estimated using current assumptions that include discount rate, mortality, lapses and expenses. These current assumptions are based on judgments that consider the Company’s historical experience, industry data, and other factors. The liability is adjusted for differences between actual and expected experience. The Company reviews and updates its estimate of cash flows expected over the lifetime of a group of contracts using actual historical experience quarterly and current future cash flow assumptions at least annually to calculate its revised net premium ratio. The revised net premium ratios are then used to calculate an updated liability for future policyholder benefits for the current reporting period, discounted at the original contract issuance discount rate. The Company has elected to use expense assumptions that are locked in at contract inception and are not subsequently reviewed or updated. Resulting changes in the liability due to differences in actual versus expected experience, changes in current cash flow assumptions, and prefunding and payout of benefits compared to the carrying amount of the liability as of that same date are recorded as a separate component of benefit expense in the Consolidated Statements of Income (Loss). When a cohort’s present value of future net premiums exceeds the present value of future benefits, a “flooring” adjustment is required. The flooring adjustment ensures that the liability for future policy benefits for each cohort is not less than zero, and is reported in Net Income (Loss) or Other Comprehensive Income (Loss), depending on whether the flooring relates to the future policy benefits discounted at the locked-in discount rate versus the current upper-medium grade discount rate, respectively. The current discount rate assumption is an equivalent spot rate curve of annually compounded rates at monthly increments that is derived based on A-credit rated fixed-income instruments reflecting the duration characteristics of the liability. The Company utilizes published corporate yield curves from Bloomberg’s BVAL Investment Grade Corporate Sector curve. The discount rate assumption is updated quarterly and used to remeasure the liability at the reporting date, with the resulting change reflected in Other Comprehensive Income (Loss). For liability cash flows that are projected beyond the maximum observable point on the yield curve, the yield grades to an ultimate forward rate. Insurance Reserves for life insurance products are comprised of reserves for future policy benefits plus an estimate of the Company’s liability for unpaid life insurance claims and claims adjustment expenses, which includes an estimate for IBNR life insurance claims. The Company utilizes the database of reported deaths maintained by the Social Security Administration or NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) other comparable database (a “Death master File” or “DMF”) to identify potential situations where the Company has yet to be notified of an insured’s death and, as appropriate, initiating an outreach process to identify and contact beneficiaries and settle claims. Policyholder Obligations Policyholder Obligations include Federal Home Loan Bank (“FHLB”) funding agreements used for spread lending purposes and universal life-type policyholder contracts and are stated at account balances. Receivables from Policyholders - Allowance for Expected Credit Losses The allowance for credit losses is a valuation account that is deducted from the receivables from policyholders based on the net amount expected to be collected on the insurance contract. Receivables from policyholders are charged off against the allowance when management believes the receivable is uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Management estimates the allowance using relevant available information, from internal and external sources, related to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience on the receivables from policyholders provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current environmental conditions, primarily unemployment rates that could impact an insured’s ability to pay premiums. Other Receivables Other Receivables primarily include reinsurance recoverables, accrued investment income, and receivables from limited liability investments and investments in partnerships. Reinsurance Recoverables were $24.3 million and $27.8 million at December 31, 2024 and 2023, respectively. Accrued Investment Income was $81.9 million and $88.4 million at December 31, 2024 and 2023, respectively. Receivables from limited liability investments and investments in partnerships were $0.3 million and $0.0 million at December 31, 2024 and 2023, respectively. Other Assets Other Assets primarily include property and equipment, internal use software, right-of-use assets, insurance licenses acquired in business combinations, other intangible assets acquired in a business combination and prepaid expenses. Property and equipment is depreciated over the useful lives of the assets, generally using the straight-line or double declining balance methods of depreciation depending on the asset involved. Internal use software is amortized over the useful life of the asset using the straight-line method of amortization and is evaluated for recoverability upon identification of impairment indications. Insurance licenses acquired in business combinations and other indefinite life intangibles are not amortized, but rather tested periodically for recoverability. The Company accounts for the value of business acquired (“VOBA”) based on actuarial estimates of the present value of future cash flows embedded in insurance in force as of an acquisition date. VOBA was $12.1 million and $13.8 million at December 31, 2024 and 2023, respectively. VOBA is amortized over the expected profit emergence period of the policies in force as of the acquisition date. The Company evaluates VOBA assets for recoverability annually. The Company accounts for the future profits embedded in customer relationships (“Customer Relationships”) acquired based on the present value of estimated future cash flows from such relationships. Customer Relationships were $1.5 million and $1.7 million at December 31, 2024 and 2023, respectively, and are amortized on a straight-line basis over the estimated useful life of the relationship. Customer Relationships are tested for recoverability using undiscounted projections of future cash flows and are written down to estimated fair value if the carrying value exceeds the sum of such projections of undiscounted cash flows. The Company accounts for the present value of the future profits embedded in broker or agent relationships acquired (“Agent Relationships”) based on the present value of estimated future cash flows from such acquired relationships or, using the cost recovery method, which estimates the ultimate cost to build a comparable distribution network. Agent Relationships were $37.7 million and $43.4 million at December 31, 2024 and 2023, respectively, and are amortized on a straight-line basis over the estimated useful life of the relationship. Agent Relationships are tested for recoverability using undiscounted projections of NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) future cash flows and are written down to estimated fair value if the carrying value exceeds the sum of such projections of undiscounted cash flows. Accrued Expenses and Other Liabilities Accrued Expenses and Other Liabilities primarily include drafts payable, accrued salaries and commissions, postretirement medical benefits, lease liability and accrued taxes, licenses and fees. Recognition of Earned Premiums and Related Expenses Property and casualty insurance and short-duration health insurance premiums are deferred when written and recognized and earned ratably over the periods to which the premiums relate. Unearned Premiums represent the portion of the premiums written related to the unexpired portion of policies in force which has been deferred and is reported as a liability. The Company performs a premium deficiency analysis typically at a business level, namely Specialty Property & Casualty Insurance and Non-Core Operations, which is consistent with the manner in which the Company acquires and services policies and measures profitability. Anticipated investment income is included in this analysis. A premium deficiency is recognized when the sum of expected claim costs, claim adjustment expenses, unamortized deferred policy acquisition costs and maintenance costs exceeds the related unearned premiums by first reducing related deferred policy acquisition costs to an amount, but not below zero, at which the premium deficiency would not exist. If a premium deficiency remains after first reducing deferred policy acquisition costs, a premium deficiency reserve is established and reported as a liability in the Consolidated Financial Statements. Traditional life insurance premiums are recognized as revenue when due. Policyholders’ benefits are associated with related premiums to result in recognition of profits over the periods for which the benefits are provided using the net level premium method. Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses include provisions for future policy benefits under life and certain accident and health insurance contracts and provisions for reported claims, estimates for IBNR claims and loss adjustment expenses. Benefit payments in excess of policy account balances are expensed. Reinsurance In the normal course of business, Kemper’s insurance subsidiaries reinsure certain risks above certain retention levels with other insurance enterprises. These reinsurance agreements do not relieve Kemper’s insurance subsidiaries of their legal obligations to the policyholder. Amounts recoverable from reinsurers are included in Other Receivables. Gains related to long-duration reinsurance contracts are deferred and amortized over the life of the underlying reinsured policies. Losses related to long-duration reinsurance contracts are recognized immediately. Any gain or loss associated with reinsurance agreements for which Kemper’s insurance subsidiaries have been legally relieved of their obligations to the policyholder is recognized in the period of relief. Income Taxes Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance, if any, is maintained for the portion of deferred income tax assets that the Company does not expect to recover. Increases, if any, in the valuation allowance for deferred income tax assets are recognized as Income Tax Expense (Benefit). Decreases, if any, in the valuation allowance for deferred income tax assets are generally recognized as income tax benefit. The effect on deferred income tax assets and liabilities of a change in tax law including a change in tax rates is recognized in income from operations in the period in which the change is enacted. The Company reports a liability for unrecognized tax benefits, if any, resulting from uncertain tax positions taken, or expected to be taken, in an income tax return, if any. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income Tax Expense (Benefit). NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) Variable Interest Entities A VIE is a legal entity that does not have sufficient equity at risk to finance its activities without additional subordinated financial support or is structured such that equity investors lack the ability to make significant decisions relating to the entity's operations through voting rights or do not substantively participate in the gains and losses of the entity. The Company consolidates VIEs in which the Company is deemed the primary beneficiary. The primary beneficiary is the entity that has both (1) the power to direct the activities of the VIE that most significantly affect that entity's economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. Noncontrolling Interests Noncontrolling interest is the portion of equity (net assets) not attributable, directly or indirectly, to a parent. The Company has no ownership interest in Kemper Reciprocal, but consolidates it as the Company is considered the primary beneficiary. Adoption of New Accounting Guidance The Company has adopted all recently issued accounting pronouncements with effective dates prior to January 1, 2025. Guidance Adopted in 2024 In March 2023, the FASB issued ASU 2023-02 Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method, which expands the use of the proportional amortization method of accounting to equity investments in other tax credit structures that meet certain criteria. The proportional amortization method results in the tax credit investment being amortized in proportion to the allocation of tax credits and other tax benefits in each period, and a net presentation within the income tax line item. ASU 2023-02 is effective for annual periods beginning after December 15, 2023 and interim periods within those annual periods. The Company adopted the new standard on January 1, 2024. The adoption did not have a material impact on the Company's Consolidated Financial Statements. In November 2023, the FASB issued ASU 2023-07 Improvements to Reportable Segment Disclosures, which enhances disclosures about significant segment expenses. The new standard does not change the definition or aggregation of operating segments but will add required disclosures of significant expenses for each reportable segment as well as certain other disclosures to help financial statement users understand how the chief operating decision maker evaluates segment expenses and operating results. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company adopted this ASU and has included all required information in the Notes to the Consolidated Financial Statements. Guidance Not Yet Adopted In October 2023, the FASB issued ASU 2023-06 Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This ASU amends the disclosure or presentation requirements related to various subtopics in the FASB Accounting Standards Codification. For SEC registrants, the effective date for each amendment will be the date on which the SEC’s removal of that related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company will monitor the removal of various requirements from the current regulations in order to determine when to adopt the related amendments, but does not anticipate the adoption of the new guidance will have a material impact on the Company’s Consolidated Financial Statements. The Company will continue to evaluate the impact of this guidance on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09 Improvements to Income Tax Disclosures, which improves the transparency of income tax disclosures by requiring companies to use consistent categories and greater disaggregation of information in the tax rate reconciliation as well as requiring disaggregation of income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In March 2024, the SEC adopted a final rule requiring registrants to disclose certain climate-related information in their registration statements and annual reports. The rule requires the disclosure of qualitative and quantitative information, with certain information, such as financial statement effects of severe weather events, included in the notes to the audited financial statements. Other disclosure requirements include material climate-related risks, processes to manage and govern those risks, NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) disclosure of targets if the targets materially affect or are reasonably likely to materially affect the Company, and, if material, disclosure of certain greenhouse gas emissions. On April 4, 2024, the SEC issued a voluntary stay of the final rule, pending the outcome of pending litigation. The requirements will be applied prospectively and have phased-in effective dates. For the Company, the Form 10-K for the year ending December 31, 2025, will be the first annual report with new climate-related disclosures. The Company is currently evaluating the impact of adopting the final rule. In November 2024, the FASB issued ASU 2024-03 Disaggregation of Income Statement Expenses, which requires companies to disclose, within the financial statement footnotes, the amount of inventory purchases, employee compensation, depreciation, intangible asset amortization and depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities that contribute to each income statement expense line item, as well as the amount of selling expenses incurred during each reporting period. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.
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Net Income (Loss) Per Unrestricted Share |
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| Net Income (Loss) Per Unrestricted Share | NET INCOME (LOSS) PER UNRESTRICTED SHARE A reconciliation of the numerator and denominator used in the calculation of Basic Net Income (Loss) Per Unrestricted Share and Diluted Net Income (Loss) Per Unrestricted Share for the years ended December 31, 2024, 2023 and 2022 is presented below.
The number of shares of Kemper common stock that were excluded from the calculations of Equity-based Compensation Equivalent Shares and Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution because the effect of inclusion would be anti-dilutive was 1.4 million, 3.6 million, and 2.4 million for the years ended December 31, 2024, 2023, and 2022, respectively.
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Dispositions |
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| Dispositions | DISPOSITIONS Disposition of Reserve National Insurance Company In July 2022, the Company entered into a definitive agreement to sell Reserve National Insurance Company and its wholly-owned subsidiaries (collectively, “Reserve National”) to Medical Mutual of Ohio for approximately $90.0 million in total consideration. The sale closed on December 1, 2022 and a loss of $1.6 million, net of income tax, was recorded for the year ended December 31, 2022. The Company reported Reserve National’s results of operations in the Life Insurance segment through December 1, 2022. NOTE 4. DISPOSITIONS (Continued) The following table summarizes the assets and liabilities included in the sale on December 1, 2022:
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Business Segments |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Segments | BUSINESS SEGMENTS 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 two operating segments: Specialty Property & Casualty Insurance, and Life Insurance. The Specialty Property & Casualty Insurance segment’s principal products are specialty personal automobile and commercial automobile insurance. These products are distributed primarily through independent agents and brokers. The Life Insurance segment’s principal products are individual life, accident, supplemental health and property insurance. Career agents employed by the Company distribute these products. Corporate and Other operations include interest expense, board of directors’ fees, and general corporate expenses incurred by the Company which are not allocated to other businesses. Non-Core Operations includes the results of our Preferred Insurance business which the Company expects to fully exit. Segment Adjusted Net Operating Income (Loss) The Company analyzes the operating performance of each segment using segment adjusted net operating income (loss). Segment adjusted net operating income (loss) does not equate to “net income (loss)” as determined in accordance with U.S. GAAP but is the measure of segment profit or loss used by the Company’s Chief Operating Decision Maker (“CODM”), our President and CEO, to evaluate segment performance and allocate resources, and consistent with authoritative guidance, is the measure of segment performance presented below. Segment adjusted net operating income (loss) is calculated by adjusting each segment’s income (loss) after income taxes for the following items: (i) Change in Fair Value of Equity and Convertible Securities; (ii) Net Realized Investment Gains (Losses); (iii) Impairment Losses; NOTE 5. BUSINESS SEGMENTS (Continued) (iv) Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs; (v) Debt Extinguishment, Pension Settlement and Other Charges; (vi) Goodwill Impairment Charge; (vii) Non-Core Operations; and (viii) Significant non-recurring or infrequent items that may not be indicative of ongoing operations These items are important to an understanding of overall results of operations. Segment adjusted net operating income (loss) is not a substitute for income determined in accordance with U.S. GAAP, and the Company’s definition of segment adjusted net operating income (loss) may differ from that used by other companies. The Company, however, believes that the presentation of segment adjusted net operating income (loss), as measured for management purposes, enhances the understanding of results of operations by highlighting the underlying profitability factors of its businesses. The Company’s earned premiums are derived in the United States. The accounting policies of the segments are the same as those described in Note 2, “Summary of Accounting Policies and Accounting Changes,” to the Consolidated Financial Statements. Capital expenditures for long-lived assets by operating segment are immaterial. It is the Company’s management practice to allocate certain corporate expenses, primarily compensation costs for corporate employees and related facility costs, included in Insurance and Other Expenses in the Consolidated Statements of Income (Loss) to its insurance operations. Expenses are allocated based upon specific metrics associated with each business, including but not limited to claim counts, headcount, and budgeted premium. The Company does not allocate (Loss) Income from Change in Fair Value of Equity and Convertible Securities, Net Realized Investment Gains (Losses), Impairment Losses, Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs, Debt Extinguishment, Pension Settlement and Other Charges, Goodwill Impairment Charge, Non-Core Operations, and Significant non-recurring or infrequent items that may not be indicative of ongoing operations to its operating segments. Total Segment, Non-Core Operations, and Corporate and Other assets at December 31, 2024, 2023, and 2022 were:
Earned Premiums by product line for the years ended December 31, 2024, 2023 and 2022 were:
NOTE 5. BUSINESS SEGMENTS (Continued) Segment Revenues, including a reconciliation to Total Revenues, for the years ended December 31, 2024, 2023 and 2022 were:
NOTE 5. BUSINESS SEGMENTS (Continued) Significant Segment Expenses that were regularly provided to the CODM for the years ended December 31, 2024, 2023 and 2022 were:
NOTE 5. BUSINESS SEGMENTS (Continued) Adjusted Consolidated Net Operating Income (Loss), including a reconciliation to Net Income (Loss) attributable to Kemper Corporation, for the years ended December 31, 2024, 2023 and 2022 was:
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Liability for Future Policyholder Benefits |
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| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Liability for Future Policyholder Benefits | PROPERTY AND CASUALTY INSURANCE RESERVES The Company’s 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. Such estimates are based on individual case estimates for reported claims and estimates for IBNR losses, including expected development on reported claims. Property and Casualty Insurance Reserves are recorded net of any expected salvage and subrogation recoveries. The determination of individual case reserves differs by line of business. For personal automobile insurance and commercial automobile insurance, case reserves are set primarily using statistical reserves that are based on studies of historical average paid amounts by state, coverage and product. However, when such reserves exceed certain thresholds they are set manually by adjusters. For preferred homeowners insurance and other personal insurance, case reserves are set by adjusters and are based on the adjusters’ estimates of the amount for which the claims will ultimately be paid. The Company’s actuaries estimate ultimate losses and LAE and, therefore, reserves at least quarterly for most product lines and/or coverage levels using accident quarters or years spanning 10 or more years, depending on the size of the product line and/or coverage level or emerging issues relating to them. The Company’s actuaries use a variety of generally accepted actuarial loss reserving estimation methodologies to estimate the ultimate losses and LAE for the current accident quarter or year and re-estimate the ultimate losses and LAE for previous accident quarters or years to determine if changes in the previous estimates of the ultimate losses and LAE are indicated by the most recent data. The key assumption in these estimation methodologies is that patterns observed in prior periods are indicative of how losses and LAE are expected to develop in the future and that such historical data can be used to predict and estimate ultimate losses and LAE. However, changes in the Company’s business processes, by their very nature, are likely to affect the development patterns, which generally results in the historical development factors becoming less reliable over time in predicting how losses NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) and LAE will ultimately develop. The Company’s actuaries use professional judgment in determining how much weight to place on the development patterns based on the older historical data and how much weight to place on the development patterns based on more recent data. In some cases, the Company’s actuaries make adjustments to the loss reserving estimation methodologies to estimate ultimate losses and LAE. The Company’s actuaries’ quarterly or yearly selections are summed by product and/or coverage levels to create the actuarial indication of the ultimate losses and LAE. Paid amounts are then subtracted from the ultimates to compute the reserves for property and casualty insurance losses and LAE. These results are reviewed by the Company’s actuaries and corporate management who apply their collective judgment and determine the appropriate estimated level of reserves to record. Numerous factors are considered in this determination process, including, but not limited to, the assessed reliability of key loss trends and assumptions that may be significantly influencing the current actuarial indications, changes in claim handling practices or other changes that affect the timing of payment or development patterns, changes in the mix of business, the maturity of the accident year, pertinent trends observed over the recent past, the level of volatility within a particular line of business, the improvement or deterioration of actuarial indications in the current period as compared to prior periods, and the amount of reserves related to third party pools for which the Company has limited access to the underlying data and, accordingly, relies on calculations provided by such pools. 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 sustaining minimal variation from the time reserves for losses and LAE are initially estimated until losses and LAE are fully developed. Changes in the Company’s estimates of these losses and LAE over time, also referred to as “development,” will occur and may be material. The following tables contain information about incurred and paid claims development as of and for the year ended December 31, 2024, net of reinsurance and indemnification, as well as cumulative claim frequency and the total of IBNR liabilities, including expected development on reported claims included within the net incurred losses and allocated LAE amounts. The tables are grouped by major product line and, if relevant, coverage. The information about incurred and paid claims development for the years ended December 31, 2020 through 2023 is presented as supplementary information and is unaudited. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Specialty Personal Automobile Insurance—Liability1
1 Tables retrospectively include American Access Casualty Company’s (“AAC”) historical incurred and paid accident year claim information for all periods presented. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Specialty Personal Automobile Insurance—Physical Damage1
1 Tables retrospectively include AAC’s historical incurred and paid accident year claim information for all periods presented. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Commercial Automobile Insurance—Liability
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Commercial Automobile Insurance—Physical Damage
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Non-Core Personal Automobile Insurance—Liability
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Non-Core Personal Automobile Insurance—Physical Damage
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Non-Core Homeowners Insurance
The claim counts in the preceding tables are cumulative reported claim counts as of December 31, 2024 and are equal to the sum of cumulative open and cumulative closed claims, including claims closed without payment. Certain product lines, particularly the Company’s specialty personal automobile insurance, tend to have a higher percentage of claims closed without payment. The Company's claims associated with automobile insurance are counted at the feature level. As such, each claimant and each coverage is counted separately. For example, if for one occurrence, the Company's policyholder is at fault for damage to his/her own vehicle, another party's vehicle and three injured parties, there may be five features—three for bodily injury liability, one for property damage liability and one for first-party collision coverage. There may also be another feature for first-party medical payments. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) The following table reconciles the net incurred and paid claims development tables presented above to the Company's liability for Property and Casualty Insurance Reserves included in the Consolidated Balance Sheets at December 31, 2024.
The following is supplementary information about average historical claims duration as of December 31, 2024.
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Property and Casualty Insurance Reserve activity for the years ended December 31, 2024, 2023 and 2022 was:
Property and Casualty Insurance Reserves are estimated based on historical experience patterns and current economic trends. Actual loss experience and loss trends may differ from these historical experience patterns and economic conditions. Loss experience and loss trends emerge over several years from the dates of loss inception. The Company monitors such emerging loss trends on a quarterly basis. Changes in such estimates are included in the Consolidated Statements of Income (Loss) in the period of change. Additionally, the Company reviews if any premium revisions are appropriate as a result of any incurred losses and LAE related to prior years recorded in the current period. For the year ended December 31, 2024, 2023 and 2022, no additional premiums or return premiums were recorded. In 2024, the Company incurred $22.6 million of adverse reserve development on prior accident years which was primarily attributable to increased claim severity on homeowners, umbrella, and bodily injury coverages within Non-Core Operations. Additionally, the Company experienced adverse development of $7.2 million on its Commercial Automobile business within the Specialty Property and Casualty Insurance segment, driven by higher than expected loss emergence on bodily injury coverages. In 2023, the Company recognized $108.7 million of unfavorable development within the Specialty Personal Automobile product line, primarily driven by Florida personal injury protection experiencing increased frequency and severity resulting from more litigated claim activity, as well as adverse development from bodily injury and property damage coverages. In addition, the Company experienced $24.2 million and $24.8 million of adverse development on the Commercial Automobile product and Non-Core Operations business, respectively, which was primarily attributable to higher than expected emergence on prior accident years within the bodily injury and physical damage coverages. In 2022, the Company experienced $14.6 million of favorable prior year development primarily from the Specialty Personal Automobile product line, which developed favorably by $17.6 million due primarily to more favorable loss patterns for liability and physical damage coverages. This development was partially offset by adverse development on the Commercial Automobile product of $3.6 million as a result of less favorable emergence on liability coverages. The Company cannot predict whether loss and LAE reserves will develop favorably or unfavorably from the amounts reported in the Consolidated Financial Statements. The Company believes that any such development will not have a material effect on the Company’s consolidated financial position, but could have a material effect on the Company’s consolidated financial results for a given period. Reinsurance recoverables on property and casualty insurance reserves were $24.3 million and $27.8 million at December 31, 2024 and 2023, respectively. These recoverables are concentrated with several reinsurers, the majority of which are highly rated by one or more of the principal investor and/or insurance company rating agencies. While most of these recoverables were NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) unsecured at December 31, 2024 and 2023, the agreements with the reinsurers generally provide for some form of collateralization upon the occurrence of certain events. LIABILITY FOR FUTURE POLICYHOLDER BENEFITSThe Company’s Life Insurance Reserves are reported using the Company’s estimate of its liability for future policyholder benefits. The liability for future policyholder benefits is grouped by contract type and issue year into cohorts consistent with the grouping used in estimating the associated liability. Significant assumption inputs to the calculation of the liability for future policyholder benefits include mortality, lapses, and discount rates (both accretion and current). The Company’s actuaries review assumptions used to measure the liability for future policyholder benefits for nonparticipating traditional and limited pay long-duration contracts at least annually. If there is a change, assumptions are updated with the recognition and remeasurement recorded in the Company’s Consolidated Statements of Income (Loss). The Company’s actuaries use a variety of generally accepted actuarial methodologies, in accordance with Actuarial Standards of Practice, in determining the assumptions. A key assumption in these estimation methodologies is that patterns observed in prior periods are indicative of how policyholder benefits are expected to develop in the future and that such historical data can be used to predict and estimate future losses. However, changes in the Company’s business processes and the macroeconomic environment, by their very nature, are likely to affect the actual to expected experience which generally results in the historical experience factors becoming less reliable over time in predicting how cash flows will ultimately develop. The Company’s actuaries use professional judgment in determining how much weight to place on the actual to expected experience based on the older historical data and how much weight to place on more recent experience data. In some cases, the Company’s actuaries make adjustments to the assumptions to estimate losses. These assumptions are reviewed by the Company’s actuaries and corporate management who apply their collective judgment and determine the appropriate assumptions to adopt for the underlying business. Numerous factors are considered in this determination process, including, but not limited to, the assessed reliability of key assumptions that may be significantly influencing the current actuarial indications, changes in pricing and product offerings, changes in customer base, changes in agency operations or other changes that affect the timing of payments, the policyholder behaviors observed over the recent past, the level of volatility within a particular line of business, and the improvement or deterioration of actuarial indications in the current period as compared to prior periods. Changes in the Company’s assumptions underlying these liabilities over time will occur and may be material. NOTE 7. LIABILITY FOR FUTURE POLICYHOLDER BENEFITS (Continued) The following tables summarize balances and changes in the present value of expected net premiums, present value of expected future policyholder benefits and net liability for future policyholder benefits as of and for the years ended December 31, 2024, 2023 and 2022:
The weighted-average liability duration of the liability for future policyholder benefits as calculated under current rates is as follows:
NOTE 7. LIABILITY FOR FUTURE POLICYHOLDER BENEFITS (Continued) The reconciliation of the net liability for future policyholder benefits to Life and Health Insurance Reserves in the Consolidated Balance Sheets is as follows:
1Other primarily consists of Accident and Health and Universal Life reserves The amounts of expected undiscounted future benefit payments, expected undiscounted future gross premiums and expected discounted future gross premiums, is as follows:
The amount of revenue and interest recognized in the Consolidated Statements of Income (Loss) is as follows:
The weighted-average interest rate is as follows:
Significant assumption inputs to the calculation of the liability for future policyholder benefits include mortality, lapses, and discount rates (both accretion and current). The Company reviewed and updated mortality and lapse assumptions during the fourth quarter of 2024. Market data that underlies current discount rates was updated as of December 31, 2024. The balances of and changes in Deferred Profit Liability as of and for the years indicated below are as follows:
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Deferred Policy Acquisition Costs |
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| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Policy Acquisition Costs | DEFERRED POLICY ACQUISITION COSTS The following table presents the balances and changes in Deferred Policy Acquisition Costs for the Specialty Property and Casualty Insurance segment, Life Insurance segment, and Non-Core Operations business for the years ended December 31, 2024, 2023 and 2022:
Costs directly associated with the successful acquisition of business, principally commissions and certain premium taxes and policy issuance costs, are deferred. Costs deferred on property and casualty insurance contracts are amortized over the period in which premiums are earned. Costs deferred on traditional life insurance products and other long-duration insurance contracts are amortized on a constant level basis over the expected life of the contracts in accordance with the assumptions used to estimate the liability for future policyholder benefits for nonparticipating traditional and limited-payment contracts. The underlying assumptions for deferred policy acquisition costs and the liability for future policyholder benefits are updated concurrently. The Company made changes to future assumptions in the fourth quarter for the Life and Health business for the years ended December 31, 2024, 2023, and 2022.
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Receivables from Policyholders - Allowance for Expected Credit Losses |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Receivables from Policyholders - Allowance for Expected Credit Losses | RECEIVABLES FROM POLICYHOLDERS - ALLOWANCE FOR EXPECTED CREDIT LOSSES The following tables present the balances of Receivables from Policyholders, net of the allowance for expected credit losses, as of December 31, 2024 and 2023, and a roll forward of changes in the allowance for expected credit losses for the years ended December 31, 2024 and 2023.
NOTE 9 - RECEIVABLES FROM POLICYHOLDERS - ALLOWANCE FOR EXPECTED CREDIT LOSSES (Continued)
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Property and Casualty Insurance Reserves |
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| Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Liability for Future Policyholder Benefits | PROPERTY AND CASUALTY INSURANCE RESERVES The Company’s 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. Such estimates are based on individual case estimates for reported claims and estimates for IBNR losses, including expected development on reported claims. Property and Casualty Insurance Reserves are recorded net of any expected salvage and subrogation recoveries. The determination of individual case reserves differs by line of business. For personal automobile insurance and commercial automobile insurance, case reserves are set primarily using statistical reserves that are based on studies of historical average paid amounts by state, coverage and product. However, when such reserves exceed certain thresholds they are set manually by adjusters. For preferred homeowners insurance and other personal insurance, case reserves are set by adjusters and are based on the adjusters’ estimates of the amount for which the claims will ultimately be paid. The Company’s actuaries estimate ultimate losses and LAE and, therefore, reserves at least quarterly for most product lines and/or coverage levels using accident quarters or years spanning 10 or more years, depending on the size of the product line and/or coverage level or emerging issues relating to them. The Company’s actuaries use a variety of generally accepted actuarial loss reserving estimation methodologies to estimate the ultimate losses and LAE for the current accident quarter or year and re-estimate the ultimate losses and LAE for previous accident quarters or years to determine if changes in the previous estimates of the ultimate losses and LAE are indicated by the most recent data. The key assumption in these estimation methodologies is that patterns observed in prior periods are indicative of how losses and LAE are expected to develop in the future and that such historical data can be used to predict and estimate ultimate losses and LAE. However, changes in the Company’s business processes, by their very nature, are likely to affect the development patterns, which generally results in the historical development factors becoming less reliable over time in predicting how losses NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) and LAE will ultimately develop. The Company’s actuaries use professional judgment in determining how much weight to place on the development patterns based on the older historical data and how much weight to place on the development patterns based on more recent data. In some cases, the Company’s actuaries make adjustments to the loss reserving estimation methodologies to estimate ultimate losses and LAE. The Company’s actuaries’ quarterly or yearly selections are summed by product and/or coverage levels to create the actuarial indication of the ultimate losses and LAE. Paid amounts are then subtracted from the ultimates to compute the reserves for property and casualty insurance losses and LAE. These results are reviewed by the Company’s actuaries and corporate management who apply their collective judgment and determine the appropriate estimated level of reserves to record. Numerous factors are considered in this determination process, including, but not limited to, the assessed reliability of key loss trends and assumptions that may be significantly influencing the current actuarial indications, changes in claim handling practices or other changes that affect the timing of payment or development patterns, changes in the mix of business, the maturity of the accident year, pertinent trends observed over the recent past, the level of volatility within a particular line of business, the improvement or deterioration of actuarial indications in the current period as compared to prior periods, and the amount of reserves related to third party pools for which the Company has limited access to the underlying data and, accordingly, relies on calculations provided by such pools. 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 sustaining minimal variation from the time reserves for losses and LAE are initially estimated until losses and LAE are fully developed. Changes in the Company’s estimates of these losses and LAE over time, also referred to as “development,” will occur and may be material. The following tables contain information about incurred and paid claims development as of and for the year ended December 31, 2024, net of reinsurance and indemnification, as well as cumulative claim frequency and the total of IBNR liabilities, including expected development on reported claims included within the net incurred losses and allocated LAE amounts. The tables are grouped by major product line and, if relevant, coverage. The information about incurred and paid claims development for the years ended December 31, 2020 through 2023 is presented as supplementary information and is unaudited. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Specialty Personal Automobile Insurance—Liability1
1 Tables retrospectively include American Access Casualty Company’s (“AAC”) historical incurred and paid accident year claim information for all periods presented. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Specialty Personal Automobile Insurance—Physical Damage1
1 Tables retrospectively include AAC’s historical incurred and paid accident year claim information for all periods presented. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Commercial Automobile Insurance—Liability
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Commercial Automobile Insurance—Physical Damage
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Non-Core Personal Automobile Insurance—Liability
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Non-Core Personal Automobile Insurance—Physical Damage
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Non-Core Homeowners Insurance
The claim counts in the preceding tables are cumulative reported claim counts as of December 31, 2024 and are equal to the sum of cumulative open and cumulative closed claims, including claims closed without payment. Certain product lines, particularly the Company’s specialty personal automobile insurance, tend to have a higher percentage of claims closed without payment. The Company's claims associated with automobile insurance are counted at the feature level. As such, each claimant and each coverage is counted separately. For example, if for one occurrence, the Company's policyholder is at fault for damage to his/her own vehicle, another party's vehicle and three injured parties, there may be five features—three for bodily injury liability, one for property damage liability and one for first-party collision coverage. There may also be another feature for first-party medical payments. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) The following table reconciles the net incurred and paid claims development tables presented above to the Company's liability for Property and Casualty Insurance Reserves included in the Consolidated Balance Sheets at December 31, 2024.
The following is supplementary information about average historical claims duration as of December 31, 2024.
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Property and Casualty Insurance Reserve activity for the years ended December 31, 2024, 2023 and 2022 was:
Property and Casualty Insurance Reserves are estimated based on historical experience patterns and current economic trends. Actual loss experience and loss trends may differ from these historical experience patterns and economic conditions. Loss experience and loss trends emerge over several years from the dates of loss inception. The Company monitors such emerging loss trends on a quarterly basis. Changes in such estimates are included in the Consolidated Statements of Income (Loss) in the period of change. Additionally, the Company reviews if any premium revisions are appropriate as a result of any incurred losses and LAE related to prior years recorded in the current period. For the year ended December 31, 2024, 2023 and 2022, no additional premiums or return premiums were recorded. In 2024, the Company incurred $22.6 million of adverse reserve development on prior accident years which was primarily attributable to increased claim severity on homeowners, umbrella, and bodily injury coverages within Non-Core Operations. Additionally, the Company experienced adverse development of $7.2 million on its Commercial Automobile business within the Specialty Property and Casualty Insurance segment, driven by higher than expected loss emergence on bodily injury coverages. In 2023, the Company recognized $108.7 million of unfavorable development within the Specialty Personal Automobile product line, primarily driven by Florida personal injury protection experiencing increased frequency and severity resulting from more litigated claim activity, as well as adverse development from bodily injury and property damage coverages. In addition, the Company experienced $24.2 million and $24.8 million of adverse development on the Commercial Automobile product and Non-Core Operations business, respectively, which was primarily attributable to higher than expected emergence on prior accident years within the bodily injury and physical damage coverages. In 2022, the Company experienced $14.6 million of favorable prior year development primarily from the Specialty Personal Automobile product line, which developed favorably by $17.6 million due primarily to more favorable loss patterns for liability and physical damage coverages. This development was partially offset by adverse development on the Commercial Automobile product of $3.6 million as a result of less favorable emergence on liability coverages. The Company cannot predict whether loss and LAE reserves will develop favorably or unfavorably from the amounts reported in the Consolidated Financial Statements. The Company believes that any such development will not have a material effect on the Company’s consolidated financial position, but could have a material effect on the Company’s consolidated financial results for a given period. Reinsurance recoverables on property and casualty insurance reserves were $24.3 million and $27.8 million at December 31, 2024 and 2023, respectively. These recoverables are concentrated with several reinsurers, the majority of which are highly rated by one or more of the principal investor and/or insurance company rating agencies. While most of these recoverables were NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) unsecured at December 31, 2024 and 2023, the agreements with the reinsurers generally provide for some form of collateralization upon the occurrence of certain events. LIABILITY FOR FUTURE POLICYHOLDER BENEFITSThe Company’s Life Insurance Reserves are reported using the Company’s estimate of its liability for future policyholder benefits. The liability for future policyholder benefits is grouped by contract type and issue year into cohorts consistent with the grouping used in estimating the associated liability. Significant assumption inputs to the calculation of the liability for future policyholder benefits include mortality, lapses, and discount rates (both accretion and current). The Company’s actuaries review assumptions used to measure the liability for future policyholder benefits for nonparticipating traditional and limited pay long-duration contracts at least annually. If there is a change, assumptions are updated with the recognition and remeasurement recorded in the Company’s Consolidated Statements of Income (Loss). The Company’s actuaries use a variety of generally accepted actuarial methodologies, in accordance with Actuarial Standards of Practice, in determining the assumptions. A key assumption in these estimation methodologies is that patterns observed in prior periods are indicative of how policyholder benefits are expected to develop in the future and that such historical data can be used to predict and estimate future losses. However, changes in the Company’s business processes and the macroeconomic environment, by their very nature, are likely to affect the actual to expected experience which generally results in the historical experience factors becoming less reliable over time in predicting how cash flows will ultimately develop. The Company’s actuaries use professional judgment in determining how much weight to place on the actual to expected experience based on the older historical data and how much weight to place on more recent experience data. In some cases, the Company’s actuaries make adjustments to the assumptions to estimate losses. These assumptions are reviewed by the Company’s actuaries and corporate management who apply their collective judgment and determine the appropriate assumptions to adopt for the underlying business. Numerous factors are considered in this determination process, including, but not limited to, the assessed reliability of key assumptions that may be significantly influencing the current actuarial indications, changes in pricing and product offerings, changes in customer base, changes in agency operations or other changes that affect the timing of payments, the policyholder behaviors observed over the recent past, the level of volatility within a particular line of business, and the improvement or deterioration of actuarial indications in the current period as compared to prior periods. Changes in the Company’s assumptions underlying these liabilities over time will occur and may be material. NOTE 7. LIABILITY FOR FUTURE POLICYHOLDER BENEFITS (Continued) The following tables summarize balances and changes in the present value of expected net premiums, present value of expected future policyholder benefits and net liability for future policyholder benefits as of and for the years ended December 31, 2024, 2023 and 2022:
The weighted-average liability duration of the liability for future policyholder benefits as calculated under current rates is as follows:
NOTE 7. LIABILITY FOR FUTURE POLICYHOLDER BENEFITS (Continued) The reconciliation of the net liability for future policyholder benefits to Life and Health Insurance Reserves in the Consolidated Balance Sheets is as follows:
1Other primarily consists of Accident and Health and Universal Life reserves The amounts of expected undiscounted future benefit payments, expected undiscounted future gross premiums and expected discounted future gross premiums, is as follows:
The amount of revenue and interest recognized in the Consolidated Statements of Income (Loss) is as follows:
The weighted-average interest rate is as follows:
Significant assumption inputs to the calculation of the liability for future policyholder benefits include mortality, lapses, and discount rates (both accretion and current). The Company reviewed and updated mortality and lapse assumptions during the fourth quarter of 2024. Market data that underlies current discount rates was updated as of December 31, 2024. The balances of and changes in Deferred Profit Liability as of and for the years indicated below are as follows:
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Insurance and Other Expenses |
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| Insurance and Other Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance and Other Expenses | INSURANCE AND OTHER EXPENSES Insurance and Other Expenses for the years ended December 31, 2024, 2023 and 2022 were:
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Investments |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | INVESTMENTS Fixed Maturities The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2024 were:
The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2023 were:
Other Receivables included $1.8 million and $0.9 million of unsettled sales of Investments in Fixed Maturities at December 31, 2024 and December 31, 2023, respectively. There were $11.6 million of unsettled purchases of Investments in Fixed Maturities included in Accrued Expenses and Other Liabilities as of December 31, 2024. There were no unsettled purchases of Investments in Fixed Maturities included in Accrued Expenses and Other Liabilities as of December 31, 2023. The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2024 by contractual maturity were:
NOTE 11. INVESTMENTS (Continued) The expected maturities of the Company’s Investments in Fixed Maturities may differ from the contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Investments in Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date at December 31, 2024 consisted of securities issued by the Government National Mortgage Association with a fair value of $207.0 million, securities issued by the Federal National Mortgage Association with a fair value of $99.5 million, securities issued by the Federal Home Loan Mortgage Corporation with a fair value of $76.3 million and securities of other non-governmental issuers with a fair value of $1,154.5 million. An aging of unrealized losses on the Company’s Investments in Fixed Maturities at December 31, 2024 is presented below.
The Company regularly reviews its fixed maturity investment portfolio for factors that may indicate that a decline in fair value of an investment has resulted from an expected credit loss. The portions of the declines in the fair values of fixed maturity investments that are determined to be due to expected credit losses are reported as losses in the Consolidated Statements of Income (Loss) in the periods when such determinations are made. Investment-grade fixed maturity investments comprised $875.3 million and below-investment-grade fixed maturity investments comprised $14.2 million of the unrealized losses on investments in fixed maturities at December 31, 2024. For below-investment-grade fixed maturity investments in an unrealized loss position, the unrealized loss amount, on average, was 4.9% of the amortized cost basis of the investment. An aging of unrealized losses on the Company’s Investments in Fixed Maturities at December 31, 2023 is presented below.
NOTE 11. INVESTMENTS (Continued) Investment-grade fixed maturity investments comprised $704.8 million and below-investment-grade fixed maturity investments comprised $25.5 million of the unrealized losses on investments in fixed maturities at December 31, 2023. For below-investment-grade fixed maturity investments in an unrealized loss position, the unrealized loss amount, on average, was approximately 8.8% of the amortized cost basis of the investment. At December 31, 2024 and 2023, the Company did not have the intent to sell these investments, and it was not more likely than not that the Company would be required to sell these investments before an anticipated recovery of value. The Company evaluated these investments for credit losses at December 31, 2024 and 2023. The Company considers many factors in evaluating whether the unrealized losses were credit related including, but not limited to, the extent to which the fair value has been less than amortized cost, conditions related to the security, industry, or geographic area, payment structure of the investment and the likelihood of the issuer’s ability to make contractual cashflows, defaults or other collectability concerns related to the issuer, changes in the ratings assigned by a rating agency, and other credit enhancements that affect the investment’s expected performance. The Company determined that the unrealized losses on these securities were due to non-credit related factors at the evaluation date. Fixed Maturities - Expected Credit Losses The following table sets forth the change in allowance for credit losses on fixed maturities available-for-sale by major security type for the year ended December 31, 2024. Accrued interest excluded from the amortized cost of fixed income securities total $70.9 million and $77.0 million as of December 31, 2024 and 2023, respectively, and is reported within the Other Receivables line of the Consolidated Balance Sheets. The Company monitors accrued interest and writes off amounts when they are deemed uncollectible.
The following table sets forth the change in allowance for credit losses on fixed maturities available-for-sale by major security type for the year ended December 31, 2023.
Equity Securities Equity Securities at Fair Value Investments in Equity Securities at Fair Value were $218.5 million and $225.8 million at December 31, 2024 and 2023, respectively. Net unrealized (losses) gains arising during the year ended December 31, 2024 and 2023 and recognized in NOTE 11. INVESTMENTS (Continued) earnings, related to such investments still held as of December 31, 2024 and December 31, 2023 were $(5.1) million and $3.0 million, respectively. There were no unsettled purchases of Investments in Equity Securities at Fair Value at December 31, 2024 or December 31, 2023. There was $0.3 million and $0.1 million in unsettled sales of Investments in Equity Securities at Fair Value at December 31, 2024 and December 31, 2023, respectively. Equity Method Limited Liability Investments Equity Method Limited Liability Investments include investments in limited liability investment companies and limited partnerships in which the Company’s interests are not deemed minor and are accounted for under the equity method of accounting. The Company’s investments in Equity Method Limited Liability Investments are generally of a passive nature in that the Company does not take an active role in the management of the investment entity. The Company’s maximum exposure to loss at December 31, 2024 is limited to the total carrying value of $186.3 million. In addition, the Company had outstanding commitments totaling approximately $91.3 million to fund Equity Method Limited Liability Investments at December 31, 2024. At December 31, 2024, 3.1% of Equity Method Limited Liability Investments were reported without a reporting lag, 4.1% of the total carrying value were reported with a one-month lag, and the remainder were reported with a greater than a one-month but less than or equal to three-month lag. There were no unsettled purchases of Equity Method Limited Liability Investments as of December 31, 2024 or 2023. There were no unsettled sales of Equity Method Limited Liability Investments as of December 31, 2024 or 2023. Unsettled purchases and sales of Equity Method Limited Liability Investments are carried within the Accrued Expenses and Other Liabilities and Other Receivables, respectively, on the Consolidated Balance Sheets. Alternative Energy Partnership Investments Alternative Energy Partnership Investments include partnerships formed to invest in newly installed residential solar leases and power purchase agreements. As a result of this investment, the Company has the right to certain investment tax credits and tax depreciation benefits, and to a lesser extent, cash flows generated from the installed solar systems leased to individual consumers for a fixed period of time. The HLBV equity method of accounting is used for the Company’s investments in Alternative Energy Partnership Investments. The Company’s maximum exposure to loss at December 31, 2024 is limited to the total carrying value of $17.6 million. The Company has no outstanding commitments to fund Alternative Energy Partnership Investments as of December 31, 2024. Alternative Energy Partnership Investments are reported on a three month lag. Company-Owned Life Insurance The carrying values of the Company’s COLI investment at December 31, 2024 and 2023 were $539.2 million and $513.5 million, respectively. Loans to Policyholders Loans to Policyholders represents funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in Net Investment Income at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. The carrying values of the Company’s Loans to Policyholders at unpaid principal investment at December 31, 2024 and 2023 were $280.7 million and $281.2 million, respectively. NOTE 11. INVESTMENTS (Continued) Other Investments The carrying values of the Company’s Other Investments at December 31, 2024 and 2023 were:
Investments in Equity Securities at Modified Cost were $22.5 million and $32.6 million at December 31, 2024 and 2023, respectively. The Company performs a qualitative impairment analysis on a quarterly basis consisting of various factors such as earnings performance, current market conditions, changes in credit ratings, changes in the regulatory environment and other factors. If the qualitative analysis identifies the presence of impairment indicators, the Company estimates the fair value of the investment. If the estimated fair value is below the carrying value, the Company records an impairment in the Consolidated Statements of Income (Loss) to reduce the carrying value to the estimated fair value. When the Company identifies observable transactions of the same or similar securities to those held by the Company, the Company increases or decreases the carrying value to the observable transaction price. The Company did not recognize any changes in carrying value due to observable transactions for the years ended December 31, 2024 and 2023. The Company recognized an impairment of $0.4 million and $0.5 million on Equity Securities at Modified Cost for the years ended December 31, 2024 and 2023, respectively, as a result of the Company’s impairment analysis. No impairments were recognized for the year ended December 31, 2022 on Equity Securities at Modified Cost. The Company recognized no cumulative increases or decreases in the carrying value due to observable transactions and $3.2 million of cumulative impairments on Equity Securities at Modified Cost held as of December 31, 2024. The Company recognized no cumulative increases or decreases in the carrying value due to observable transactions and $8.0 million of cumulative impairments on Equity Securities at Modified Cost held as of December 31, 2023. INCOME FROM INVESTMENTSNet Investment Income for the years ended December 31, 2024, 2023 and 2022 was:
Other Receivables includes accrued investment income of $81.9 million and $88.4 million at December 31, 2024 and 2023, respectively. NOTE 12. INCOME FROM INVESTMENTS (Continued) The components of Net Realized Gains (Losses) for the years ended December 31, 2024, 2023 and 2022 were:
The components of Impairment Losses reported in the Consolidated Statements of Income (Loss) for the years ended December 31, 2024, 2023 and 2022 were:
I Includes losses from intent-to-sell securities of $3.3 million, $2.0 million and $23.8 million for the years ended December 31, 2024, 2023 and 2022, respectively.
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Income from Investments |
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| Investment Income, Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income from Investments | INVESTMENTS Fixed Maturities The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2024 were:
The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2023 were:
Other Receivables included $1.8 million and $0.9 million of unsettled sales of Investments in Fixed Maturities at December 31, 2024 and December 31, 2023, respectively. There were $11.6 million of unsettled purchases of Investments in Fixed Maturities included in Accrued Expenses and Other Liabilities as of December 31, 2024. There were no unsettled purchases of Investments in Fixed Maturities included in Accrued Expenses and Other Liabilities as of December 31, 2023. The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2024 by contractual maturity were:
NOTE 11. INVESTMENTS (Continued) The expected maturities of the Company’s Investments in Fixed Maturities may differ from the contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Investments in Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date at December 31, 2024 consisted of securities issued by the Government National Mortgage Association with a fair value of $207.0 million, securities issued by the Federal National Mortgage Association with a fair value of $99.5 million, securities issued by the Federal Home Loan Mortgage Corporation with a fair value of $76.3 million and securities of other non-governmental issuers with a fair value of $1,154.5 million. An aging of unrealized losses on the Company’s Investments in Fixed Maturities at December 31, 2024 is presented below.
The Company regularly reviews its fixed maturity investment portfolio for factors that may indicate that a decline in fair value of an investment has resulted from an expected credit loss. The portions of the declines in the fair values of fixed maturity investments that are determined to be due to expected credit losses are reported as losses in the Consolidated Statements of Income (Loss) in the periods when such determinations are made. Investment-grade fixed maturity investments comprised $875.3 million and below-investment-grade fixed maturity investments comprised $14.2 million of the unrealized losses on investments in fixed maturities at December 31, 2024. For below-investment-grade fixed maturity investments in an unrealized loss position, the unrealized loss amount, on average, was 4.9% of the amortized cost basis of the investment. An aging of unrealized losses on the Company’s Investments in Fixed Maturities at December 31, 2023 is presented below.
NOTE 11. INVESTMENTS (Continued) Investment-grade fixed maturity investments comprised $704.8 million and below-investment-grade fixed maturity investments comprised $25.5 million of the unrealized losses on investments in fixed maturities at December 31, 2023. For below-investment-grade fixed maturity investments in an unrealized loss position, the unrealized loss amount, on average, was approximately 8.8% of the amortized cost basis of the investment. At December 31, 2024 and 2023, the Company did not have the intent to sell these investments, and it was not more likely than not that the Company would be required to sell these investments before an anticipated recovery of value. The Company evaluated these investments for credit losses at December 31, 2024 and 2023. The Company considers many factors in evaluating whether the unrealized losses were credit related including, but not limited to, the extent to which the fair value has been less than amortized cost, conditions related to the security, industry, or geographic area, payment structure of the investment and the likelihood of the issuer’s ability to make contractual cashflows, defaults or other collectability concerns related to the issuer, changes in the ratings assigned by a rating agency, and other credit enhancements that affect the investment’s expected performance. The Company determined that the unrealized losses on these securities were due to non-credit related factors at the evaluation date. Fixed Maturities - Expected Credit Losses The following table sets forth the change in allowance for credit losses on fixed maturities available-for-sale by major security type for the year ended December 31, 2024. Accrued interest excluded from the amortized cost of fixed income securities total $70.9 million and $77.0 million as of December 31, 2024 and 2023, respectively, and is reported within the Other Receivables line of the Consolidated Balance Sheets. The Company monitors accrued interest and writes off amounts when they are deemed uncollectible.
The following table sets forth the change in allowance for credit losses on fixed maturities available-for-sale by major security type for the year ended December 31, 2023.
Equity Securities Equity Securities at Fair Value Investments in Equity Securities at Fair Value were $218.5 million and $225.8 million at December 31, 2024 and 2023, respectively. Net unrealized (losses) gains arising during the year ended December 31, 2024 and 2023 and recognized in NOTE 11. INVESTMENTS (Continued) earnings, related to such investments still held as of December 31, 2024 and December 31, 2023 were $(5.1) million and $3.0 million, respectively. There were no unsettled purchases of Investments in Equity Securities at Fair Value at December 31, 2024 or December 31, 2023. There was $0.3 million and $0.1 million in unsettled sales of Investments in Equity Securities at Fair Value at December 31, 2024 and December 31, 2023, respectively. Equity Method Limited Liability Investments Equity Method Limited Liability Investments include investments in limited liability investment companies and limited partnerships in which the Company’s interests are not deemed minor and are accounted for under the equity method of accounting. The Company’s investments in Equity Method Limited Liability Investments are generally of a passive nature in that the Company does not take an active role in the management of the investment entity. The Company’s maximum exposure to loss at December 31, 2024 is limited to the total carrying value of $186.3 million. In addition, the Company had outstanding commitments totaling approximately $91.3 million to fund Equity Method Limited Liability Investments at December 31, 2024. At December 31, 2024, 3.1% of Equity Method Limited Liability Investments were reported without a reporting lag, 4.1% of the total carrying value were reported with a one-month lag, and the remainder were reported with a greater than a one-month but less than or equal to three-month lag. There were no unsettled purchases of Equity Method Limited Liability Investments as of December 31, 2024 or 2023. There were no unsettled sales of Equity Method Limited Liability Investments as of December 31, 2024 or 2023. Unsettled purchases and sales of Equity Method Limited Liability Investments are carried within the Accrued Expenses and Other Liabilities and Other Receivables, respectively, on the Consolidated Balance Sheets. Alternative Energy Partnership Investments Alternative Energy Partnership Investments include partnerships formed to invest in newly installed residential solar leases and power purchase agreements. As a result of this investment, the Company has the right to certain investment tax credits and tax depreciation benefits, and to a lesser extent, cash flows generated from the installed solar systems leased to individual consumers for a fixed period of time. The HLBV equity method of accounting is used for the Company’s investments in Alternative Energy Partnership Investments. The Company’s maximum exposure to loss at December 31, 2024 is limited to the total carrying value of $17.6 million. The Company has no outstanding commitments to fund Alternative Energy Partnership Investments as of December 31, 2024. Alternative Energy Partnership Investments are reported on a three month lag. Company-Owned Life Insurance The carrying values of the Company’s COLI investment at December 31, 2024 and 2023 were $539.2 million and $513.5 million, respectively. Loans to Policyholders Loans to Policyholders represents funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in Net Investment Income at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. The carrying values of the Company’s Loans to Policyholders at unpaid principal investment at December 31, 2024 and 2023 were $280.7 million and $281.2 million, respectively. NOTE 11. INVESTMENTS (Continued) Other Investments The carrying values of the Company’s Other Investments at December 31, 2024 and 2023 were:
Investments in Equity Securities at Modified Cost were $22.5 million and $32.6 million at December 31, 2024 and 2023, respectively. The Company performs a qualitative impairment analysis on a quarterly basis consisting of various factors such as earnings performance, current market conditions, changes in credit ratings, changes in the regulatory environment and other factors. If the qualitative analysis identifies the presence of impairment indicators, the Company estimates the fair value of the investment. If the estimated fair value is below the carrying value, the Company records an impairment in the Consolidated Statements of Income (Loss) to reduce the carrying value to the estimated fair value. When the Company identifies observable transactions of the same or similar securities to those held by the Company, the Company increases or decreases the carrying value to the observable transaction price. The Company did not recognize any changes in carrying value due to observable transactions for the years ended December 31, 2024 and 2023. The Company recognized an impairment of $0.4 million and $0.5 million on Equity Securities at Modified Cost for the years ended December 31, 2024 and 2023, respectively, as a result of the Company’s impairment analysis. No impairments were recognized for the year ended December 31, 2022 on Equity Securities at Modified Cost. The Company recognized no cumulative increases or decreases in the carrying value due to observable transactions and $3.2 million of cumulative impairments on Equity Securities at Modified Cost held as of December 31, 2024. The Company recognized no cumulative increases or decreases in the carrying value due to observable transactions and $8.0 million of cumulative impairments on Equity Securities at Modified Cost held as of December 31, 2023. INCOME FROM INVESTMENTSNet Investment Income for the years ended December 31, 2024, 2023 and 2022 was:
Other Receivables includes accrued investment income of $81.9 million and $88.4 million at December 31, 2024 and 2023, respectively. NOTE 12. INCOME FROM INVESTMENTS (Continued) The components of Net Realized Gains (Losses) for the years ended December 31, 2024, 2023 and 2022 were:
The components of Impairment Losses reported in the Consolidated Statements of Income (Loss) for the years ended December 31, 2024, 2023 and 2022 were:
I Includes losses from intent-to-sell securities of $3.3 million, $2.0 million and $23.8 million for the years ended December 31, 2024, 2023 and 2022, respectively.
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Derivatives |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives | DERIVATIVES The Company’s earnings, cash flows, and financial position are subject to fluctuations due to changes in prevailing interest rates. The Company entered into derivative agreements with maturity dates throughout 2024. Derivative instruments are carried at fair value on the Consolidated Balance Sheets. Derivative instruments in a gain position are presented within Other Investments and those in a loss position are included in Accrued Expenses and Other Liabilities. Changes in the fair values of derivatives are recorded on the Consolidated Statements of Income (Loss) within Net Realized Investment Gains or Accumulated Other Comprehensive Loss along with the corresponding change in the designated hedge assets. Interest Rate Risk The Company’s debt securities valuations utilize the Treasury designated benchmark rate, exposing the Company to variability due to changes in interest rates. Ultra-Long Treasury Futures The Company enters into exchange-traded ultra-long Treasury futures (“Treasury Futures”) in order to manage exposure to upcoming changes in the benchmark (Treasury) interest rate of forecasted transactions. These derivatives expire quarterly. As of December 31, 2024, all Treasury Futures held by the Company qualified for hedge accounting as a cash flow hedge. The NOTE 13. DERIVATIVES (Continued) Company utilizes a rollover hedging strategy that involves continuously establishing short-term derivatives in consecutive contract months to hedge the underlying risk exposure. Under this strategy, the complete set of derivatives are not acquired at hedge inception; rather, short-term derivatives are acquired throughout the hedging period such that maturing derivatives are replaced with new short-term derivatives. There were treasury futures that expired during the year ended December 31, 2024, that did not qualify for hedge accounting. Primary Risks Managed by Derivatives The following table presents the Company’s Ultra-Long Treasury Futures derivatives, primary underlying risk exposure, gross notional amount, and estimated fair value of these derivatives:
The below table reflects the amounts of Gains (Losses) deferred into AOCI before taxes, net changes in amounts in AOCI associated with current hedging transactions, and amounts subsequently reclassified into Net Income (Loss) through Net Investment Income for Ultra-Long Treasury Futures qualifying as cash flow hedges for the years ended December 31, 2024 and 2023:
Treasury Locks During the fourth quarter of 2016 and the first quarter of 2022, in anticipation of debt issuances shortly thereafter and for risk management purposes, the Company entered into derivative transactions (the “2016 Treasury Lock” and “2022 Treasury Lock,” together the “Treasury Locks”) to hedge the risk of changes in the debt cash flows attributable to changes in the benchmark U.S. Treasury interest rate during the period leading up to the debt issuance. The Treasury Locks have no remaining gross notional amount or fair value as the hedging relationships have been previously discontinued with the issuance of the associated debt (Senior Notes due February 15, 2025 for the 2016 Treasury Lock and Senior Notes due February 23, 2032 for the 2022 Treasury Lock). The effective portion of the gain (loss) before taxes on the derivative instruments upon discontinuance was $(4.5) million for the 2016 Treasury Lock and $5.9 million on the 2022 Treasury Lock. The gain (loss) upon discontinuance is reported as a component of Accumulated Other Comprehensive Loss. Beginning with the issuance of the associated debt, such gain (loss) is amortized into earnings and reported in Interest Expense in the same periods that the hedged items affect earnings. Amortization on the 2016 Treasury Lock was $(1.5) million and $(0.5) million for the years ended December 31, 2024 and 2023, respectively. Amortization on the 2022 Treasury Lock was $0.6 million for the years ended December 31, 2024 and 2023. As of December 31, 2024, the remaining amount of derivative gain (loss) before taxes within AOCI to be amortized into earnings is $(0.1) million and $4.2 million on the 2016 Treasury Lock and 2022 Treasury Lock, respectively.
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Fair Value Measurements |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company is responsible for the determination of fair value of financial assets and liabilities, including the supporting assumptions and methodologies, and uses independent third-party valuation service providers, broker quotes and internal pricing methodologies to determine fair values. The Company obtains or estimates only one single quote or price for each financial instrument. The Company uses a hierarchical framework for inputs to determine fair value which prioritizes the use of observable inputs and minimizes the use of unobservable inputs. Additionally, the Company categorizes fair value measurements based on the lowest level of input that is considered to be significant to the entire measurement. The Company classifies its Investments in Fixed Maturities as available-for-sale and reports these investments at fair value. The Company reports equity investments with readily determinable fair values as Equity Securities at Fair Value. Certain investments that are measured at fair value using the net asset value practical expedient are not required to be classified using the fair value hierarchy, but are presented in the following two tables to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Balance Sheets. NOTE 14. FAIR VALUE MEASUREMENTS (Continued) The valuation of assets and liabilities measured at fair value in the Company’s Consolidated Balance Sheets at December 31, 2024 is summarized below.
NOTE 14. FAIR VALUE MEASUREMENTS (Continued) The valuation of assets and liabilities measured at fair value in the Company’s Consolidated Balance Sheets at December 31, 2023 is summarized below. The Company had no material liabilities that are measured and reported at fair value.
The Company’s investments in Fixed Maturities that are classified as Level 1 primarily consist of U.S. Treasury Bonds and Notes. The Company’s investments in Equity Securities at Fair Value that are classified as Level 1 consist of either investments in publicly-traded common stocks or exchange traded funds. The Company’s investments in Fixed Maturities that are classified as Level 2 primarily consist of investments in corporate bonds, obligations of states and political subdivisions, collateralized loan obligations, and mortgage-backed securities of U.S. government agencies. The Company’s investments in Equity Securities at Fair Value that are classified as Level 2 primarily consist of investments in preferred stocks. The Company’s Derivative Instruments Designated as Cash Flow Hedges that are classified as Level 2 primarily consist of hedges to manage exposure to upcoming changes in the benchmark (Treasury) interest rate of forecasted transactions. The Company uses a leading, nationally recognized provider of market data and analytics to price the vast majority of the Company’s Level 2 NOTE 14. FAIR VALUE MEASUREMENTS (Continued) measurements. The provider utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information. Because many fixed maturity securities do not trade on a daily basis, the provider’s evaluated pricing applications apply available information through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to prepare evaluations. In addition, the provider uses model processes to develop prepayment and interest rate scenarios. The pricing provider’s models and processes also take into account market convention. For each asset class, teams of its evaluators gather information from market sources and integrate relevant credit information, perceived market movements and sector news into the evaluated pricing applications and models. The Company generally validates the measurements obtained from its primary pricing provider by comparing them with measurements obtained from one additional pricing provider that provides either prices from recent market transactions, quotes in inactive markets or evaluations based on its own proprietary models. The Company investigates significant differences related to the values provided. On completion of its investigation, management exercises judgment to determine the price selected and whether adjustments, if any, to the price obtained from the Company’s primary pricing provider would warrant classification of the price as Level 3. In instances where a measurement cannot be obtained from either pricing provider, the Company generally will evaluate bid prices from one or more binding quotes obtained from market makers to value investments in inactive markets and classified by the Company as Level 2. The Company generally classifies securities when it receives non-binding quotes or indications as Level 3 securities unless the Company can validate the quote or indication against recent transactions in the market. The table below presents quantitative information about the significant unobservable inputs utilized by the Company in determining fair values for fixed maturity investments classified as Level 3 at December 31, 2024. Valuations for assets presented in the tables below are primarily based on broker/dealer quotes for which there is a lack of transparency as to inputs used to develop the valuations. The quantitative detail of these unobservable inputs is neither provided nor reasonably available to the Company. The weighted average yield is calculated based on fair value.
The table below presents quantitative information about the significant unobservable inputs utilized by the Company in determining fair values for fixed maturity investments classified as Level 3 at December 31, 2023. Valuations for assets presented in the tables below are primarily based on broker/dealer quotes for which there is a lack of transparency as to inputs used to develop the valuations. The quantitative detail of these unobservable inputs is neither provided nor reasonably available to the Company. The weighted average yield is calculated based on fair value.
NOTE 14. FAIR VALUE MEASUREMENTS (Continued) For an investment in a fixed maturity security, an increase in the yield used to determine the fair value of the security will decrease the fair value of the security. A decrease in the yield used to determine fair value will increase the fair value of the security, but for callable securities the fair value increase is generally limited to par, unless security is currently callable at a premium. Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the year ended December 31, 2024 is presented below.
The transfers into and out of Level 3 were due to changes in the availability of market observable inputs. Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the year ended December 31, 2023 is presented below.
The transfers into and out of Level 3 were due primarily to changes in the availability of market observable inputs. NOTE 14. FAIR VALUE MEASUREMENTS (Continued) The table below shows investments reported at fair value using NAV and their unfunded commitments by asset class as of December 31, 2024 and 2023, respectively.
The fund investments included above (excluding Hedge Funds) are not redeemable, because distributions from the funds will be received when underlying investments of the funds are liquidated. The funds are generally expected to have approximately 10 year lives at their inception, but these lives may be extended at the fund manager’s discretion, typically in one or two-year increments. The hedge fund investments included above, which are carried at fair value, are generally redeemable subject to the redemption notices period. The majority of the hedge fund investments are redeemable monthly or quarterly. NOTE 14. FAIR VALUE MEASUREMENTS (Continued) The following table includes information related to the Company’s investments in certain private equity funds or hedge funds that calculate a net asset value per share:
Presented below are the carrying values and fair value estimates of financial instruments not carried at fair value.
Loans to policyholders are carried at unpaid principal balance which approximates fair value and are categorized as Level 3 within the fair value hierarchy. The nature of policy loans is to have a negligible default risk as the loans are fully collateralized by the value of the policy. Policy loans do not have a stated maturity and the balances and accrued interest are repaid either by the policyholder or with proceeds from the policy. Due to the collateralized nature of policy loans and unpredictable timing of payments, the Company believes the carrying value of policy loans approximates fair value. The fair value measurement of Short-term Investments is estimated using inputs that are considered either Level 1 or Level 2 measurements. The Mortgage Loans fair value measurement is considered equal to amortized cost given the short-term nature of the investments. The fair value measurement of Equity Securities at Modified Cost is estimated using inputs that are considered Level 3 measurements. The cash surrender value of Company-Owned Life Insurance approximates fair value and is considered to be a Level 2 investment. The fair value of Long-term Debt is estimated using quoted prices from brokers and dealers for similar liabilities in markets that are not active. The inputs used in the valuation are considered Level 2 measurements. Policyholder Obligations presented in the preceding table consist of advances from the FHLB of Chicago, and the inputs used in the valuation are considered Level 2 measurements.
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Goodwill and Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill balances by business segment at December 31, 2024 and 2023 were:
The Company tests goodwill for recoverability at the reporting unit level on an annual basis, or whenever events or circumstances indicate the fair value of a reporting unit may have declined below its carrying value. The Company performed a qualitative goodwill impairment assessment for all reporting units with goodwill as of October 1, 2024. The qualitative assessment takes into consideration changes in macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in management or key personnel, changes in strategy, events impacting reporting units, and changes in Kemper’s stock price since the last quantitative assessment, which was performed on October 1, 2022. Based on its qualitative assessment, the Company concluded that the associated goodwill was recoverable for each reporting unit. During the second quarter of 2023, the Company identified impairment indicators impacting the fair value of the Preferred Property & Casualty Insurance business in connection with ongoing evaluation of strategic alternatives for the Preferred Insurance business. As a result, the business’s fair value was determined using a combination of available market information, market comparisons and a discounted cash flow valuation method based on the present value of future earnings. The fair value calculated in the second quarter of 2023 was lower than the carrying value of the business, resulting in a pre-tax impairment charge of $49.6 million and an after-tax impairment charge of $45.5 million. A substantial portion of the goodwill that was impaired was not tax deductible. The goodwill impairment charge is reported separately in the Consolidated Statements of Income (Loss) for the year ended December 31, 2023, with a corresponding reduction to goodwill in the Consolidated Balance Sheet as of December 31, 2023. In 2022, Kemper completed the sale of Reserve National to Medical Mutual of Ohio. As a result of the sale, goodwill attributed to Reserve National was separately tested for recoverability and the Company incurred goodwill impairment of $11.4 million. The remaining $0.3 million of goodwill attributable to Reserve National was derecognized at the time of the sale. See Note 4, “Dispositions”, for more information. The gross carrying amount and accumulated amortization of definite and indefinite life intangible assets at December 31, 2024 and 2023 were:
NOTE 15. GOODWILL AND INTANGIBLE ASSETS (Continued) The Company records intangible assets acquired in business combinations and certain costs incurred developing and customizing internal-use software within Other Assets on the Consolidated Balance Sheets. Definite life intangible assets are amortized over the estimated profit emergence period or estimated useful life of the asset. Indefinite life intangible assets are not amortized, but rather tested annually for impairment. In 2024, 2023 and 2022, the Company recognized the following amortization expense on definite life intangible assets:
The amount of amortization expense expected to be recorded in the next five years for definite life intangible assets is as follows:
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Variable Interest Entities |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Variable Interest Entities | VARIABLE INTEREST ENTITIES A VIE is a legal entity that does not have sufficient equity at risk to finance its activities without additional subordinated financial support or is structured such that equity investors lack the ability to make significant decisions relating to the entity's operations through voting rights or do not substantively participate in the gains and losses of the entity. The Company consolidates VIEs in which the Company is deemed the primary beneficiary. The primary beneficiary is the entity that has both (1) the power to direct the activities of the VIE that most significantly affect that entity's economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. Reciprocal Exchange The Company formed a management company that acts as attorney-in-fact (“AIF”) for Kemper Reciprocal (the “Reciprocal Exchange” or “Exchange”), an Illinois-domiciled reciprocal insurance exchange. The Exchange principally writes specialty personal automobile policies sold to subscribers of the Exchange. The establishment of Kemper Reciprocal was completed in the third quarter of 2023. The Company consolidates the Exchange since (1) the AIF manages the business operations of the Exchange and therefore has the power to direct the activities that most significantly impact the economic performance of the Exchange and (2) the Company has provided capital to the Exchange and would absorb any expected losses that could potentially be significant to the Exchange. The Exchange’s anticipated economic performance is the product of its underwriting and investment results. The AIF receives a management fee for the services provided to the Reciprocal Exchange. The management fee revenues are based upon all premiums written or assumed by the Exchange. The AIF determines the management fee rate to be paid by the Exchange. The AIF can charge a management fee of up to 30% of the Exchange’s gross written and assumed premiums. The assets of the Reciprocal Exchange can be used only to settle the obligations of the Reciprocal Exchange for which creditors and other beneficial owners have no recourse to the Company. The Company has no obligation related to any underwriting and/or investment losses experienced by the Exchange. As of December 31, 2023, the Company had contributed $4.0 million of surplus to the Reciprocal Exchange. During the year ended December 31, 2024, the Company contributed an additional NOTE 16. VARIABLE INTEREST ENTITIES (Continued) $18.0 million of surplus to the Reciprocal Exchange, resulting in a total contributed surplus of $22.0 million as of December 31, 2024. The effects of the transactions between the Company and the Reciprocal Exchange are eliminated in consolidation to derive consolidated Net Income (Loss). However, the management fee income earned by the AIF is reported in Net Income (Loss) attributable to Kemper Corporation and is included in the basic and diluted earnings per share. Noncontrolling interest is the portion of equity (net assets) not attributable, directly or indirectly, to a parent. Since the Company has no ownership interest in Kemper Reciprocal, the difference between the carrying value of the Exchange’s assets and liabilities represents noncontrolling interest and any income or loss generated by the net assets of the Exchange is presented as income or loss attributable to noncontrolling interest. Alternative Energy Partnership The Company invests in an Alternative Energy Partnership formed to provide sustainable energy projects that are designed to generate a return primarily through the realization of federal tax credits. This entity was formed to invest in newly installed residential solar leases and power purchase agreements. As a result of this investment, the Company has the right to certain investment tax credits and tax depreciation benefits, and to a lesser extent, cash flows generated from the installed solar systems leased to individual consumers. The Company’s interest in the Alternative Energy Partnership Investment is considered an investment in a VIE. The Company has determined that it is not the primary beneficiary as it does not have the power to direct the activities that most significantly impact the economic performance of the entity and therefore is not required to consolidate the VIE. The project sponsor governs the entity and the Company only has consent rights that have been deemed protective in nature and does not participate in key economic decisions of the entity. The investment is accounted for using the equity method of accounting and included in Alternative Energy Partnership Investments in the Consolidated Balance Sheets. The Company uses the HLBV equity method to account for earnings and losses. This method provides an earnings allocation that appropriately reflects the substantive economics of the investment. Earnings and losses on the investment are reported in Change in Value of Alternative Energy Partnership Investments and investment tax credits are recognized in Income Tax Expense (Benefit) on the Consolidated Statements of Income (Loss). The following table presents information regarding activity in the Company’s Alternative Energy Partnership Investments for the years ended December 31, 2024, 2023 and 2022.
The following table represents the carrying value of the associated assets and liabilities and the associated maximum loss exposure of the Alternative Energy Partnership Investments as of December 31, 2024 and December 31, 2023.
The Company’s maximum loss exposure in the event that all of the assets in the Alternative Energy Partnership are deemed worthless is $17.6 million and $17.3 million, which is the carrying value of the investment at December 31, 2024 and December 31, 2023, respectively.
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Other Comprehensive (Loss) Income And Accumulated Other Comprehensive Income |
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| Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income | OTHER COMPREHENSIVE (LOSS) INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS The tables below display the changes in Accumulated Other Comprehensive Loss by component for the years ended December 31, 2024, 2023 and 2022:
NOTE 17. OTHER COMPREHENSIVE (LOSS) INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Continued) Amounts reclassified from Accumulated Other Comprehensive Loss shown above are reported in Net Income (Loss) as follows:
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Shareholders' Equity |
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Dec. 31, 2024 | |
| Equity [Abstract] | |
| Shareholders' Equity | NOTE 18. SHAREHOLDERS’ EQUITY Common Stock Issuance Kemper is authorized to issue 20 million shares of $0.10 par value preferred stock and 100 million shares of $0.10 par value common stock. No preferred shares were issued or outstanding at December 31, 2024 and 2023. There were 63,840,442 shares and 64,111,555 shares of common stock outstanding at December 31, 2024 and 2023, respectively. Common Stock Repurchases On May 6, 2020, Kemper’s Board of Directors authorized the repurchase of up to an additional $200.0 million of Kemper common stock, in addition to the $133.3 million remaining under the August 6, 2014 authorization, bringing the remaining share repurchase authorization to approximately $333.3 million. As of December 31, 2024, the remaining share repurchase authorization was $132.8 million under the repurchase program. During the year ended 2024, Kemper repurchased and retired approximately 637,000 shares of its common stock under its share repurchase authorization for an aggregate cost of $38.9 million and an average cost per share of $61.12. During the years ended 2023 and 2022, Kemper did not repurchase any of its common stock. Employee Stock Purchase Plan During the years ended December 31, 2024, 2023, and 2022, the Company issued 61,000, 89,000, and 102,000 shares under the Kemper Employee Stock Purchase Plan (“ESPP”), respectively, at an average discounted price of $52.72, $40.79, and $40.83 per share. Compensation costs charged against income were $0.6 million, $0.6 million, and $0.7 million for the years ended December 31, 2024, 2023, and 2022, respectively. Dividends Kemper issued dividends and dividend equivalents of $80.1 million, $80.1 million, and $80.4 million during 2024, 2023, and 2022, respectively, of which $80.1 million, $80.1 million, and $79.7 million, respectively, was paid to shareholders. Except for certain financial covenants under Kemper’s credit agreement or during any period in which Kemper elects to defer interest payments, there are no restrictions on Kemper’s ability to pay dividends to its shareholders. Certain financial covenants, namely minimum net worth and a maximum debt to total capitalization ratio, under Kemper’s credit agreement could limit the amount of dividends that Kemper may pay to shareholders. Kemper had the ability to pay $0.6 billion, $0.5 billion, and $0.8 billion in dividends without restrictions to its shareholders and still be in compliance with all financial covenants under its credit agreement at December 31, 2024, 2023, and 2022, respectively.
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Statutory Information and Dividend Limitations |
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| Insurance [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Statutory Financial Information and Dividend Limitations | STATUTORY FINANCIAL INFORMATION AND DIVIDEND LIMITATIONS Kemper’s insurance subsidiaries are required to file financial statements in conformity with accounting practices prescribed or permitted by domestic and foreign insurance regulatory authorities. Prescribed statutory accounting practices for domestic insurance companies include a variety of publications of the NAIC, as well as state laws, regulations and general administrative rules. All states require domiciled insurance companies to prepare statutory-basis financial statements in conformity with the NAIC Accounting Practices and Procedures Manual, subject to any deviations prescribed or permitted by the applicable insurance commissioner or director. Statutory accounting practices differ from GAAP primarily since they require charging policy acquisition costs to expense as incurred, establishing life insurance NOTE 19. STATUTORY FINANCIAL INFORMATION AND DIVIDEND LIMITATIONS (Continued) reserves based on different actuarial assumptions, and valuing certain investments and establishing deferred taxes on a different basis. Kemper’s foreign subsidiary, Kemper Bermuda Ltd., is required to file with its insurance regulator financial statements prepared in accordance with US GAAP and presented in conformity with the financial reporting provisions of the Insurance Act of 1978, amendments thereto and the Insurance Account Rules 2016 with respect to Condensed Consolidated General Purpose Financial Statements (the “Legislation”). The estimated combined statutory net income (loss), excluding intercompany dividends and surplus note interest, and estimated combined capital and surplus of the Company’s insurance subsidiaries is as follows:
The Company has non-insurance subsidiaries that are not subject to statutory accounting practices (“SAP”) as described above. The statutory net income and statutory capital and surplus amounts presented above do not include non-insurance subsidiaries in accordance with SAP. Kemper’s insurance subsidiaries are also required to hold minimum levels of statutory capital and surplus to satisfy regulatory requirements. The minimum statutory capital and surplus for US subsidiaries, or company action level risk-based capital (“RBC”), necessary to satisfy regulatory requirements for the Company’s US based life and health insurance subsidiaries collectively was estimated to be approximately $31.6 million and $36.4 million at December 31, 2024 and 2023, respectively. The estimated minimum statutory capital and surplus necessary to satisfy regulatory requirements for the Company’s property and casualty insurance subsidiaries collectively was approximately $574.9 million and $574.3 million at December 31, 2024 and 2023, respectively. Company action level RBC is the level at which a US based insurance company is required to file a corrective action plan with its regulators and is equal to 200% of the authorized control level RBC. Capital and surplus requirements of Kemper Bermuda Ltd. are regulated by the Bermuda Monetary Authority (“BMA”) and differ from those applicable to the US subsidiaries. On July 1, 2022, Kemper entered into an indefinite agreement with its subsidiary, Kemper Bermuda Ltd., that provides financial guarantees of up to $300.0 million in contributed capital to maintain a minimum target capital ratio of 150% Enhance Capital Requirement, as described in Bermuda’s Insurance Act 1978. As of December 31, 2024 and 2023, Kemper had cumulatively contributed $40.0 million under this agreement. At December 31, 2024, all insurance subsidiaries individually are expected to exceed the minimum required statutory capital and surplus requirements. Various insurance laws restrict the amount that a US based insurance subsidiary may pay in the form of dividends, loans or advances without the prior approval of regulatory authorities. Such insurance laws applicable to the Company’s US based NOTE 19. STATUTORY FINANCIAL INFORMATION AND DIVIDEND LIMITATIONS (Continued) subsidiaries generally restrict the amount of dividends paid in an annual period to the greater of statutory net income from the previous year or 10% of statutory capital and surplus. Also, that portion of a US based insurance subsidiary’s net equity which results from differences between statutory insurance accounting practices and GAAP would not be available for cash dividends, loans or advances. Kemper’s US based insurance subsidiaries paid dividends of $213.3 million, $640.9 million and $311.7 million to Kemper in 2024, 2023 and 2022, respectively. In 2025, Kemper’s US based insurance subsidiaries capacity to pay dividends to Kemper without prior regulatory approval is estimated to be $211.7 million as of the filing date. Kemper’s US based insurance subsidiaries had net assets of approximately $3.2 billion and $3.5 billion, determined in accordance with GAAP, that were restricted from payment to Kemper without prior regulatory approval at December 31, 2024 and 2023, respectively. Additionally, Kemper Bermuda Ltd. is subject to minimum solvency requirements on its statutory and economic capital that limits its ability to declare and pay dividends. Kemper Bermuda Ltd. did not authorize or pay dividends to the Company for the years ended December 31, 2024, 2023 or 2022.
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Pension Benefits |
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| Retirement Benefits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Benefits | PENSION BENEFITS The Company previously sponsored a qualified defined benefit pension plan (the “Pension Plan”). Effective January 1, 2006, the Pension Plan was closed to new hires and, effective June 30, 2016, benefit accruals were frozen for substantially all of the participants under the Pension Plan. The Pension Plan has since been fully terminated. In the third quarter of 2023, all plan liabilities were settled by either a lump-sum distribution or assumed by a third-party in exchange for a transfer of assets from the pension plan trust fund. After giving effect to these transactions, the Company recorded a $70.2 million noncash settlement charge ($55.5 million after-tax) for the unamortized net unrecognized postretirement benefit costs related to the settled obligations. As of December 31, 2023, $16.3 million of assets remained in the pension trust and was included within Other Assets in the accompanying Consolidated Balance Sheet. During the second quarter of 2024, the Company received $2.7 million as a post-settlement adjustment which was recorded in Insurance and Other Expenses in the accompanying Consolidated Statements of Income (Loss). As of September 30, 2024, $17.8 million of net assets remained in the pension trust after post-settlement adjustment, administrative, and investment activity. During the fourth quarter of 2024, the Company distributed $4.7 million to eligible participants in the Company’s defined contribution benefit plans and reverted the remaining $13.1 million of assets for general corporate use. As of December 31, 2024, no assets remained in the pension trust. The Company incurred $7.3 million of pre- and post-tax expenses related to the reversion of assets within the pension trust, which included $4.7 million distributed to eligible participants in the Company’s defined contribution benefit plans and $2.6 million of excise taxes paid by the Company on the remaining $13.1 million made available for general corporate use. NOTE 20. PENSION BENEFITS (Continued) Changes in Fair Value of Plan Assets and Changes in Projected Benefit Obligation for the Pension Plan for the years ended December 31, 2024 and 2023 is presented below.
The measurement dates of the assets and liabilities at end of year presented in the preceding table under the headings, “2024” and “2023” were December 31, 2024 and December 31, 2023, respectively. Asset allocations for the Pension Plan at December 31, 2024 and 2023 by asset category were:
The fair values of pension plan assets are estimated using the same methodologies and inputs as those used to determine the fair values for the respective asset category of the Company. These methodologies and inputs are disclosed in Note 14, “Fair Value Measurements,” to the Consolidated Financial Statements. Fair value measurements for the Pension Plan’s assets at December 31, 2023 are summarized below.
NOTE 20. PENSION BENEFITS (Continued) The components of Comprehensive Pension (Income) Expense for the Pension Plan for the years ended December 31, 2024, 2023 and 2022 were:
The weighted-average discount rate, service cost discount rate, interest cost discount rate, rate of increase in future compensation levels and expected long-term rate of return on plan assets used to develop the components of Pension Expense for the Pension Plan for the years ended December 31, 2024, 2023 and 2022 were:
The Company did not contribute to the Pension Plan in 2022, 2023 or 2024. The Company also sponsors a non-qualified supplemental defined benefit pension plan (the “Supplemental Plan”). Benefit accruals for all participants in the Supplemental Plan were frozen effective June 30, 2016. The unfunded liability related to the Supplemental Plan was $20.1 million and $21.8 million at December 31, 2024 and 2023, respectively. Pension expense for the Supplemental Plan was $1.0 million, $1.0 million, and $0.8 million for the years ended December 31, 2024, 2023 and 2022, respectively. There was a pre-tax actuarial gain of $0.8 million, loss of $0.7 million, and gain of $4.8 million included in Other Comprehensive Income (Loss) for the years ended December 31, 2024, 2023 and 2022, respectively. The Company also sponsors several defined contribution benefit plans covering most of its employees. The Company made contributions to those plans of $24.3 million, $27.5 million and $30.6 million in 2024, 2023 and 2022, respectively, excluding the $4.7 million contributed during the fourth quarter of 2024 as part of the reversion of assets remaining in the pension trust.
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Postretirement Benefits Other Than Pensions |
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Postretirement Benefits Other Than Pensions | PENSION BENEFITS The Company previously sponsored a qualified defined benefit pension plan (the “Pension Plan”). Effective January 1, 2006, the Pension Plan was closed to new hires and, effective June 30, 2016, benefit accruals were frozen for substantially all of the participants under the Pension Plan. The Pension Plan has since been fully terminated. In the third quarter of 2023, all plan liabilities were settled by either a lump-sum distribution or assumed by a third-party in exchange for a transfer of assets from the pension plan trust fund. After giving effect to these transactions, the Company recorded a $70.2 million noncash settlement charge ($55.5 million after-tax) for the unamortized net unrecognized postretirement benefit costs related to the settled obligations. As of December 31, 2023, $16.3 million of assets remained in the pension trust and was included within Other Assets in the accompanying Consolidated Balance Sheet. During the second quarter of 2024, the Company received $2.7 million as a post-settlement adjustment which was recorded in Insurance and Other Expenses in the accompanying Consolidated Statements of Income (Loss). As of September 30, 2024, $17.8 million of net assets remained in the pension trust after post-settlement adjustment, administrative, and investment activity. During the fourth quarter of 2024, the Company distributed $4.7 million to eligible participants in the Company’s defined contribution benefit plans and reverted the remaining $13.1 million of assets for general corporate use. As of December 31, 2024, no assets remained in the pension trust. The Company incurred $7.3 million of pre- and post-tax expenses related to the reversion of assets within the pension trust, which included $4.7 million distributed to eligible participants in the Company’s defined contribution benefit plans and $2.6 million of excise taxes paid by the Company on the remaining $13.1 million made available for general corporate use. NOTE 20. PENSION BENEFITS (Continued) Changes in Fair Value of Plan Assets and Changes in Projected Benefit Obligation for the Pension Plan for the years ended December 31, 2024 and 2023 is presented below.
The measurement dates of the assets and liabilities at end of year presented in the preceding table under the headings, “2024” and “2023” were December 31, 2024 and December 31, 2023, respectively. Asset allocations for the Pension Plan at December 31, 2024 and 2023 by asset category were:
The fair values of pension plan assets are estimated using the same methodologies and inputs as those used to determine the fair values for the respective asset category of the Company. These methodologies and inputs are disclosed in Note 14, “Fair Value Measurements,” to the Consolidated Financial Statements. Fair value measurements for the Pension Plan’s assets at December 31, 2023 are summarized below.
NOTE 20. PENSION BENEFITS (Continued) The components of Comprehensive Pension (Income) Expense for the Pension Plan for the years ended December 31, 2024, 2023 and 2022 were:
The weighted-average discount rate, service cost discount rate, interest cost discount rate, rate of increase in future compensation levels and expected long-term rate of return on plan assets used to develop the components of Pension Expense for the Pension Plan for the years ended December 31, 2024, 2023 and 2022 were:
The Company did not contribute to the Pension Plan in 2022, 2023 or 2024. The Company also sponsors a non-qualified supplemental defined benefit pension plan (the “Supplemental Plan”). Benefit accruals for all participants in the Supplemental Plan were frozen effective June 30, 2016. The unfunded liability related to the Supplemental Plan was $20.1 million and $21.8 million at December 31, 2024 and 2023, respectively. Pension expense for the Supplemental Plan was $1.0 million, $1.0 million, and $0.8 million for the years ended December 31, 2024, 2023 and 2022, respectively. There was a pre-tax actuarial gain of $0.8 million, loss of $0.7 million, and gain of $4.8 million included in Other Comprehensive Income (Loss) for the years ended December 31, 2024, 2023 and 2022, respectively. The Company also sponsors several defined contribution benefit plans covering most of its employees. The Company made contributions to those plans of $24.3 million, $27.5 million and $30.6 million in 2024, 2023 and 2022, respectively, excluding the $4.7 million contributed during the fourth quarter of 2024 as part of the reversion of assets remaining in the pension trust.
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| Other Postretirement Benefit Plan, Defined Benefit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Postretirement Benefits Other Than Pensions | POSTRETIREMENT BENEFITS OTHER THAN PENSIONS Kemper and Infinity Property and Casualty Corporation (“Infinity”) sponsor other than pension postretirement employee benefit plans (“OPEB”) that together provide medical, dental and/or life insurance benefits to approximately 400 retired and 500 active employees. NOTE 21. POSTRETIREMENT BENEFITS OTHER THAN PENSIONS (Continued) Kemper has historically self-insured the benefits under the Kemper OPEB Plan. The Kemper medical plan generally provides for a limited number of years of medical insurance benefits at retirement based on the participant’s attained age at retirement and number of years of service until specified dates and generally has required participant contributions, with most contributions adjusted annually. On December 30, 2016, Kemper amended the Kemper OPEB Plan and, effective December 31, 2016, no longer offers coverage to post-65 Medicare-eligible retirees and Medicare-eligible spouses under the self-insured portion of its coverage. Rather, beginning on January 1, 2017, the Kemper OPEB Plan offers access to a private, third-party Medicare exchange and provides varying levels of a Company-determined subsidy via health reimbursement accounts to certain Medicare-eligible retirees and spouses in order to help fund a portion of the participants’ cost. Further, the amendment eliminates the requirement for such participants to contribute to the Kemper OPEB Plan. In conjunction with the amendment, the Company recorded a pre-tax reduction to its Accumulated Postretirement Benefit Obligation of $11.0 million through Other Comprehensive Income (Loss). This prior service credit is being amortized into income over the remaining average life of the Kemper OPEB Plan’s participants. Changes in Fair Value of Plans’ Assets and Changes in Accumulated Postretirement Benefit Obligation for the years ended December 31, 2024 and 2023 were:
The measurement dates of the assets and liabilities at end of year in the preceding table under the headings “2024” and “2023” were December 31, 2024 and December 31, 2023, respectively. The weighted-average discount rate and rate of increase in future compensation levels used to develop the components of the Accumulated Postretirement Benefit Obligation at December 31, 2024 and 2023 were:
The assumed health care cost trend rate used in measuring the Accumulated Postretirement Benefit Obligation at December 31, 2024 was 8.3% for 2025, gradually declining to 4.7% in the year 2034 and remaining at that level thereafter for medical benefits and 12.3% for 2025, gradually declining to 4.5% in the year 2034 and remaining at that level thereafter for prescription drug benefits. The assumed health care cost trend rate used in measuring the Accumulated Postretirement Benefit Obligation at December 31, 2023 was 6.7% for 2024, gradually declining to 4.7% in the year 2029 and remaining at that level thereafter for medical benefits and 8.0% for 2024, gradually declining to 4.8% in the year 2030 and remaining at that level thereafter for prescription drug benefits. NOTE 21. POSTRETIREMENT BENEFITS OTHER THAN PENSIONS (Continued) The components of Comprehensive OPEB (Income) Expense for the years ended December 31, 2024, 2023 and 2022 were:
The Company estimates that OPEB Expense for the year ended December 31, 2025 will include income of $2.1 million resulting from the amortization of the related accumulated actuarial gain and prior service credit included in AOCI at December 31, 2024. The weighted-average discount rate and rate of increase in future compensation levels used to develop OPEB Expense for the years ended December 31, 2024, 2023 and 2022 were:
The Company expects to contribute $0.9 million, net of the expected Medicare Part D subsidy, to its OPEB Plan to fund benefit payments in 2025. The following benefit payments (net of participant contributions), which consider expected future service, as appropriate, are expected to be paid:
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Long-term Equity-based Compensation |
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| Long-Term Equity-Based Compensation | LONG-TERM EQUITY-BASED COMPENSATION On May 1, 2024 (“2023 A&R Omnibus Plan Effective Date”), Kemper’s shareholders approved the Amended and Restated Kemper Corporation 2023 Omnibus Equity Plan (“2023 A&R Omnibus Plan”). The number of shares of Kemper common stock available for issuance under the 2023 A&R Omnibus Plan is (i) 2,650,000 shares less (ii) one (1) share for every one (1) share granted after February 15, 2024 and prior to the 2023 A&R Omnibus Plan Effective Date (the “Share Authorization”). Since May 3, 2023, no new awards have been granted under the 2020 Omnibus Equity Plan (“2020 Omnibus Plan”) that had been approved by Kemper’s Shareholders on May 6, 2020, but awards previously granted under the 2020 Omnibus Plan remain outstanding in accordance with their original terms. As of December 31, 2024, there were 2,363,941 common shares available for future grants, subject to adjustment in accordance with the plans’ terms and the respective grant agreements. NOTE 22. LONG-TERM EQUITY-BASED COMPENSATION (Continued) Outstanding equity-based compensation awards as of December 31, 2024 consisted of time-based Restricted Stock Units that typically vest over three years (“RSU”), stock option and stock appreciation rights (“Tandem Awards”), PSUs and Deferred Stock Units (“DSUs”) that were previously granted to Kemper’s Non-employee Directors under the 2011 Omnibus Equity Plan. In 2024, grants were made of RSUs that had performance vesting conditions (“pRSUs”). Unless otherwise specified in this Note 22, references to RSUs include pRSUs. RSUs, PSUs and DSUs give the recipient the right to receive one share of Kemper common stock for each RSU, PSU or DSU issued. Recipients of DSUs received full dividend equivalents on the same basis as all other outstanding shares of Kemper common stock, but do not receive voting rights until such shares are issued. For grants under the 2023 A&R Omnibus Plan and the 2020 Omnibus Plan, recipients of RSUs and PSUs receive dividend equivalents on the same basis as all other outstanding shares of Kemper common stock only if, to the extent, and at the time that they vest and on subsequent dividend payment dates after they vest until the awards are settled, and do not receive voting rights until such shares are issued. For awards subject to a performance condition, the Company recognizes compensation expense based upon the probable outcome of the performance condition. The estimate is revised if the actual number of PSUs expected to vest is likely to differ from the previous estimate. Compensation expense for awards is recognized on a straight-line basis over the requisite service period. For equity-based compensation awards with a graded vesting schedule, the Company recognizes compensation expense on a straight-line basis over the requisite service period for each separately-vesting portion of the awards as if each award were, in substance, multiple awards. Compensation expense is recognized only for those awards expected to vest, with forfeitures estimated at the date of grant based on the Company’s historical experience and future expectations. Equity-based compensation expense was $29.2 million, $29.0 million and $17.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. Total unamortized compensation expense related to unvested awards at December 31, 2024 was $28.0 million, which is expected to be recognized over the next three years ending December 31, 2025, 2026 and 2027. The Human Resources and Compensation Committee of the Board of Directors, or, in limited circumstances, the CEO as the Board’s authorized designee, has sole discretion to determine the persons to whom awards under the 2023 A&R Omnibus Plan are granted, and the material terms of the awards. For Tandem Awards, material terms include the number of shares covered by such awards and the exercise price, vesting and expiration dates of such awards. Tandem Awards are non-transferable. The exercise price of Tandem Awards is the fair value of Kemper’s common stock on the date of grant. Tandem Awards and RSU awards granted to employees generally vest in three equal annual installments over a period of three years, with the Tandem Awards expiring ten years from the date of grant. Employee PSU awards generally vest over a period of three years, subject to performance results and other restrictions. pRSU vest in three equal installments on the first three anniversaries of the grant date, assuming performance conditions are satisfied prior to each vesting date and that the executive remains employed by the Company. The performance conditions are measured using full-year 2024 results and full-year 2025 results. Under the Non-employee Director compensation program in effect for 2024, each Non-employee Director elected at the 2024 annual shareholder meeting received an annual RSU award with an aggregate grant date fair value of $150,000 (“Director RSUs”) at the conclusion of the meeting, and new Non-employee Directors who joined the Board received an initial award of Director RSUs valued at the percentage of the full grant date fair value of $150,000 that represents the number of quarterly Board meetings the new director was expected to attend during the remaining portion of the then-current annual compensation period that ends on the date of the next annual shareholder meeting. The Director RSUs vest over a period of one year, enable the award holder to make an election to defer the conversion to shares of common stock in accordance with applicable deferral rules, and include the right to receive dividend equivalents on the same basis as all other outstanding shares of Kemper common stock only if, to the extent, and at the time that they vest and on subsequent dividend payment dates after they vest until the awards are settled. Each Non-employee Director elected at the 2023 annual shareholder meeting received an annual Director RSU award with an aggregate grant date fair value of $130,000 at the conclusion of the meeting, and, each Non-employee Director elected at the 2022 annual shareholder meeting received an annual Director RSU award with an aggregate grant date fair value of $130,000 at the conclusion of the meeting, under the Non-employee Director compensation program in effect for the applicable year. The Company uses the Black-Scholes option pricing model to estimate the fair value of each Tandem Award on the date of grant. The expected terms of Tandem Awards are developed by considering the Company’s historical Tandem Award exercise experience, demographic profiles, historical share retention practices of employees and assumptions about their propensity for early exercise in the future. Expected volatility is estimated using weekly historical volatility over the estimated life of each tranche of the award. The Company believes that historical volatility is currently the best estimate of expected volatility. The dividend yield in 2024, 2023 and 2022 was calculated by taking the natural logarithm of the annualized yield divided by the NOTE 22. LONG-TERM EQUITY-BASED COMPENSATION (Continued) Kemper common stock price on the date of grant. The risk-free interest rate was the yield on the grant date of U.S. Treasury zero coupon issues with a maturity comparable to the expected term of the option. The assumptions used in the Black-Scholes pricing model for Tandem Awards granted during the years ended December 31, 2024, 2023 and 2022 are presented below.
Tandem Award activity for the year ended December 31, 2024 is presented below.
The weighted-average grant-date fair values of Tandem Awards granted during 2024, 2023 and 2022 were $18.80, $18.85 and $14.67, respectively. Total intrinsic value of Tandem Awards exercised was $0.9 million, $0.6 million and $0.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. Cash received from exercises of Tandem Awards was $4.7 million, $1.9 million and $0.6 million for the years ended December 31, 2024, 2023 and 2022, respectively. Total tax benefit realized for tax deductions from exercises of Tandem Awards was $0.2 million, $0.1 million and $0.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. Information pertaining to Tandem Awards outstanding at December 31, 2024 is presented below.
The grant-date fair values of RSUs are determined using the closing price of Kemper common stock on the date of grant. NOTE 22. LONG-TERM EQUITY-BASED COMPENSATION (Continued) Activity related to nonvested RSUs for the year ended December 31, 2024 is presented below.
The initial number of PSUs awarded to each participant represents the number of Kemper common shares that would vest and be issued if the performance level attained were to be at the “target” performance level. For performance above the target level, each participant would receive a grant of additional shares of stock up to a maximum of 100% of the initial number of PSUs awarded to the participant. The final payout of these awards, and any forfeitures of PSUs for performance below the “target” performance level, will be determined based on the Company’s performance. If, at the end of the applicable performance period, the Company’s performance: •exceeds the “target” performance level, all of the PSUs will vest and additional shares of stock will be issued to the award recipient; •is below the “target” performance level, but at or above a “minimum” performance level, only a portion of the PSUs originally issued to the award recipient will vest; or •is below a “minimum” performance level, none of the PSUs originally issued to the award recipient will vest. Activity related to nonvested PSU awards for the year ended December 31, 2024 is presented below.
The number of additional shares that would be granted if the Company were to meet or exceed the maximum performance levels related to the outstanding PSU awards for the 2024, 2023 and 2022 three-year performance periods was 192,438 common shares, 169,216 common shares and 174,872 common shares, respectively, (as “full value awards,” the equivalent of 192,438 shares, 169,216 shares, and 174,872 shares, respectively, under the Share Authorization) at December 31, 2024. The grant date fair values of the PSU awards with a market performance condition are determined using the Monte Carlo simulation method. The Monte Carlo simulation model produces a risk-neutral simulation of the daily returns on the common stock of Kemper and each of the other companies included in the peer group. Returns generated by the simulation depend on the risk-free interest rate used and the volatilities of, and the correlation between, these stocks. The model simulates stock prices and dividend payouts to the end of the three-year performance period. Total shareholder returns are generated for each of these stocks based on the simulated prices and dividend payouts. The total shareholder returns are then ranked, and Kemper’s simulated ranking is converted to a payout percentage based on the terms of the PSU awards. The payout percentage is applied to the simulated stock price at the end of the performance period, reinvested dividends are added back, and the total is NOTE 22. LONG-TERM EQUITY-BASED COMPENSATION (Continued) discounted to the valuation date at the risk-free rate. This process is repeated approximately ten thousand times, and the grant date fair value is equal to the average of the results from these trials. Sixty-seven percent of the PSU awards granted to employees in 2024, sixty-seven percent of the PSU awards granted to employees in 2023 and sixty-seven percent of the PSU awards granted to employees in 2022 are measured using a market performance condition. Fair value for these awards was estimated using the Monte Carlo simulation method described above. Final payout for these awards, and any forfeitures of units for performance below the “target” performance level, will be based on Kemper’s total shareholder return, relative to a peer group comprised of all the companies in the S&P Supercomposite Insurance Index, over a three-year performance period. The three-year performance periods for the 2024, 2023 and 2022 awards end on January 31, 2026, January 31, 2025 and January 31, 2024, respectively. Compensation cost for these awards is recognized ratably over the requisite service period. In the event that the market performance condition is not satisfied, previously recognized compensation cost would not reverse, but it would reverse if the requisite service period is not met. Thirty-three percent of the PSU awards granted to employees in 2024, thirty-three percent of the PSU awards granted to employees in 2023 and thirty-three percent of the PSU awards granted to employees in 2022 are measured solely using a Company-specific metric. Final payout for these awards, and any forfeitures of shares for performance below the “target” performance level, will be determined based on Kemper’s adjusted return on equity over a three-year performance period. The three-year performance periods for the 2024, 2023 and 2022 awards end on December 31, 2026, December 31, 2025 and December 31, 2024, respectively. Fair value for these awards was determined using the closing price of Kemper common stock on the date of grant. Accruals of compensation cost for these awards are estimated based on the probable outcome of the performance condition. The total fair value of RSUs and PSUs that vested during the year ended December 31, 2024 was $21.7 million. The tax benefits for tax deductions realized from such awards was $4.5 million. The total fair value of RSUs and PSUs that vested during the year ended December 31, 2023 was $5.2 million. The tax benefits for tax deductions realized from such awards was $1.1 million. The total fair value of RSUs and PSUs that vested during the year ended December 31, 2022 was $7.5 million. The tax benefits for tax deductions realized from such awards was $1.6 million. The grant-date fair values of DSU awards issued under the 2011 Omnibus Plan granted to Non-employee Directors were determined using the closing price of Kemper common stock on the date of grant. Beginning in 2019 DSU awards are no longer issued to Non-employee Directors. All previously granted shares had vested upon issuance and as such, no DSUs vested during the years ended December 31, 2024, 2023 and 2022. Activity related to DSU awards for the year ended December 31, 2024 is presented below.
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Policyholder Contract Liabilities |
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| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Policyholder Contract Liabilities | POLICYHOLDER OBLIGATIONS Policyholder Obligations at December 31, 2024 and 2023 were as follows:
Kemper’s subsidiary, United Insurance Company of America (“United Insurance”) has entered into funding agreements with the FHLB of Chicago in exchange for cash, which it uses for spread lending purposes. United Insurance received advances of $101.7 million from the FHLB of Chicago and made repayments of $117.8 million under the spread lending program in 2024. NOTE 23. POLICYHOLDER OBLIGATIONS (Continued) United Insurance received advances of $122.5 million and made repayments of $166.1 million from the FHLB of Chicago in 2023 under the spread lending program. When a funding agreement is issued, United Insurance is then required to post collateral in the form of eligible securities including mortgage-backed, government, and agency debt instruments for each of the advances that are entered. The fair value of the collateral pledged must be maintained at certain specified levels above the borrowed amount, which can vary depending on the assets pledged. If the fair value of the collateral declines below these specified levels of the amount borrowed, United Insurance would be required to pledge additional collateral or repay outstanding borrowings. Upon any event of default by United Insurance, the FHLB’s recovery on the collateral is limited to the amount of United Insurance’s liability under the funding agreements to the FHLB of Chicago. United Insurance’s liability under the funding agreements with the FHLB of Chicago, the amount of collateral pledged under such agreements and FHLB of Chicago common stock owned by United Insurance at December 31, 2024 and 2023 is presented below.
Universal Life-type Policyholder Account Balances The Company’s weighted-average crediting rate for Universal Life-type Policyholder Account Balances was 5.1% as of December 31, 2024 and 2023. Guaranteed minimum benefit amounts in excess of the current account balances for these contracts were $276.6 million and $294.1 million as of December 31, 2024 and 2023, respectively. The cash surrender value of the Company’s policyholder obligations for these contracts was $96.4 million and $98.2 million as of December 31, 2024 and 2023, respectively.
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Debt |
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| Debt | DEBT Amended and Extended Credit Agreement On March 15, 2022, the Company entered into an amended and extended credit agreement. The amended and extended credit agreement increased the borrowing capacity of the existing unsecured credit agreement to $600.0 million and extended the maturity date to March 15, 2027. Furthermore, the amended and extended credit agreement provides for an accordion feature whereby the Company can increase the revolving credit borrowing capacity by an additional $200.0 million for a total maximum capacity of $800.0 million. Financial covenants within the agreement limit the Company from accessing the maximum capacity. The amount available as of December 31, 2024 was $512.0 million. There were no outstanding borrowings under the credit agreement at either December 31, 2024 or December 31, 2023. The Company incurred $2.2 million of debt issuance costs in relation to the amended agreement. As of December 31, 2024 there were $1.1 million of remaining unamortized costs under the credit agreement, which will be amortized under the remaining term of the credit agreement. NOTE 24. DEBT (Continued) Long-term Debt The Company designates debt obligations as either short-term or long-term based on maturity date at issuance. Total amortized cost of Long-term Debt, Current and Non-Current, outstanding at December 31, 2024 and 2023 was:
4.350% Senior Notes Due 2025 Kemper has $450.0 million aggregate principal of 4.350% senior notes due February 15, 2025 (the “2025 Senior Notes”). Kemper initially issued $250.0 million of the notes in February of 2015 and issued an additional $200.0 million of the notes in June of 2017. The additional notes are fungible with the initial notes issued in 2015, and together are treated as part of a single series for all purposes under the indenture governing the 2025 Senior Notes. The 2025 Senior Notes are unsecured and may be redeemed in whole at any time or in part from time to time at Kemper’s option at specified redemption prices. As of December 31, 2024, the 2025 Senior Notes have been classified as Current due to the notes reaching maturity within 12 months of the financial statement date. 2.400% Senior Notes Due 2030 Kemper has $400.0 million aggregate principal of 2.400% senior notes due September 30, 2030 (the “2030 Senior Notes”). The net proceeds of issuance were $395.8 million, net of discount and transaction costs for an effective yield of 2.52%. The 2030 Senior Notes are unsecured and may be redeemed in whole at any time or in part from time to time, at Kemper’s option, at specified redemption prices. 3.800% Senior Notes Due 2032 On February 15, 2022, Kemper offered and sold $400.0 million aggregate principal of 3.800% senior notes due February 23, 2032 (the “2032 Senior Notes”). The net proceeds of issuance were $395.1 million, net of discount and transaction costs for an effective yield of 3.950%. The 2032 Senior Notes are unsecured and may be redeemed in whole at any time or in part from time to time, at Kemper’s option, at specified redemption prices. 5.875% Fixed-Rate Reset Junior Subordinated Debentures Due 2062 On March 10, 2022, Kemper issued $150.0 million aggregate principal amount of 5.875% Fixed-Rate Reset Junior Subordinated Debentures due March 15, 2062 (the “2062 Junior Debentures”). The net proceeds from issuance were $144.7 million, net of discount and transaction costs. The 2062 Junior Debentures will bear interest from and including the date of original issue to, but excluding, March 15, 2027 (the “First Reset Date”) at the fixed rate of 5.875% per annum. The interest rate on the First Reset Date, and subsequent Reset Dates, will be equal to the Five-Year Treasury Rate as of the most recent Reset Date plus 4.140% to be reset on each Reset Date. Interest is due quarterly in arrears beginning on June 15, 2022. The Company has the option to defer interest payments for one or more optional deferral periods of up to consecutive years, provided that no optional deferral period shall extend beyond March 15, 2062, or any earlier accelerated maturity date arising from an event of default or any earlier redemption of the 2062 Junior Debentures. The 2062 Junior Debentures are unsecured and may be redeemed in whole or in part on the First Reset Date or any time thereafter, at a redemption price equal to the principal amount of the debentures being redeemed plus any accrued and unpaid interest. NOTE 24. DEBT (Continued) Short-term Debt Kemper’s subsidiaries, United Insurance, Trinity Universal Insurance Company (“Trinity”) and AAC, are members of the FHLBs of Chicago, Dallas and Chicago, respectively. The Company periodically uses short-term FHLB borrowings for cash management and risk management purposes, in addition to long-term FHLB borrowings for the spread lending program. The Company did not receive advances or make repayments of short-term debt during the years ended December 31, 2024 or 2023 for cash and risk management purposes. There were no short-term debt advances from the FHLBs of Chicago or Dallas outstanding at December 31, 2024 or December 31, 2023. For information on United Insurance’s funding agreement with the FHLB of Chicago in connection with the spread lending program, see Note 23, “Policyholder Obligations,” to the Consolidated Financial Statements. Interest Expense and Interest Paid Interest Expense, including facility fees, accretion of discount, amortization of premium and amortization of issuance costs, was $56.9 million, $56.1 million and $54.7 million for the years ended December 31, 2024, 2023 and 2022 respectively. Interest paid, including facility fees, was $54.5 million, $54.5 million and $51.5 million for the years ended December 31, 2024, 2023 and 2022 respectively.
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Leases |
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| Leases | LEASES The Company leases certain office space under non-cancelable operating leases, with initial terms typically ranging from to fifteen years, along with options that permit renewals for additional periods. The Company also leases certain vehicles and equipment under non-cancelable operating leases, with initial terms typically ranging from to five years. Minimum rent is expensed on a straight-line basis over the term of the lease. The following table presents operating lease right-of-use assets and lease liabilities.
Lease expenses are included in Insurance and Other Expenses in the Consolidated Statements of Income (Loss). Additional information regarding the Company’s operating leases for the year ended December 31, 2024 and 2023 is presented below.
1 Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets. The Company had no expenses during the year ended December 31, 2024 or 2022 associated with lease impairments and other related costs. The Company incurred expenses of $18.0 million for the year ended December 31, 2023 associated with lease impairments and other related costs. NOTE 25. LEASES (Continued) Other Information on Operating Leases Significant judgments and assumptions for determining lease asset and liability at December 31, 2024 and 2023 are presented below.
Most of the Company’s leases do not provide an implicit rate. Accordingly, the Company uses its incremental borrowing rate based on the information available at the commencement date to determine its lease payments’ present value. Future minimum lease payments under operating leases at December 31, 2024 are presented below.
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| Leases | LEASES The Company leases certain office space under non-cancelable operating leases, with initial terms typically ranging from to fifteen years, along with options that permit renewals for additional periods. The Company also leases certain vehicles and equipment under non-cancelable operating leases, with initial terms typically ranging from to five years. Minimum rent is expensed on a straight-line basis over the term of the lease. The following table presents operating lease right-of-use assets and lease liabilities.
Lease expenses are included in Insurance and Other Expenses in the Consolidated Statements of Income (Loss). Additional information regarding the Company’s operating leases for the year ended December 31, 2024 and 2023 is presented below.
1 Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets. The Company had no expenses during the year ended December 31, 2024 or 2022 associated with lease impairments and other related costs. The Company incurred expenses of $18.0 million for the year ended December 31, 2023 associated with lease impairments and other related costs. NOTE 25. LEASES (Continued) Other Information on Operating Leases Significant judgments and assumptions for determining lease asset and liability at December 31, 2024 and 2023 are presented below.
Most of the Company’s leases do not provide an implicit rate. Accordingly, the Company uses its incremental borrowing rate based on the information available at the commencement date to determine its lease payments’ present value. Future minimum lease payments under operating leases at December 31, 2024 are presented below.
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Catastrophe Reinsurance |
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| Reinsurance Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Catastrophe Reinsurance | CATASTROPHE REINSURANCE 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 will continue to be, a material factor in the results of operations and financial position of the Company’s property and casualty insurance companies. Further, because the level of these insured losses occurring in any one year cannot be accurately predicted, these losses may 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 Company has adopted the industry-wide catastrophe classifications of storms and other events promulgated by the Insurance Services Office (“ISO”) to track and report losses related to catastrophes. ISO classifies a disaster as a catastrophe when the event causes $25.0 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 that follow utilize ISO’s definition of catastrophes. 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 certain regions, and reinsurance. To limit its exposures to catastrophic events, the Company maintains a catastrophe reinsurance program for the property and casualty insurance companies. In 2024, the property business written through the Life segment was included in the catastrophe reinsurance program. Coverage for the catastrophe reinsurance program is provided in various layers through multiple excess of loss reinsurance contracts and an annual aggregate excess property catastrophe reinsurance contract. NOTE 26. CATASTROPHE REINSURANCE (Continued) Coverage on individual catastrophes provided under the excess of loss reinsurance contracts effective January 1, 2024 to December 31, 2024 is provided in various layers as presented below.
Coverage on individual catastrophes provided under the excess of loss reinsurance contracts effective January 1, 2023 to December 31, 2023 is provided in various layers as presented below.
Coverage on individual catastrophes provided under the excess of loss reinsurance contracts effective January 1, 2022 to December 31, 2022 is provided in various layers as presented below.
In the event that the incurred catastrophe losses and LAE covered by the catastrophe reinsurance programs presented in the three preceding tables exceed the retention for that particular layer, each of the programs allow 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 reinsurance available under such layer. The aggregate property catastrophe reinsurance contract was discontinued in 2023. Coverage provided under the 2022 aggregate property catastrophe reinsurance contract is summarized below.
The catastrophe reinsurance in 2024, 2023 and 2022 for the property and casualty insurance companies also included reinsurance coverage from the Florida Hurricane Catastrophe Fund (“FHCF”) for hurricane losses in Florida at retentions lower than those described above. The Life Insurance segment also purchases reinsurance from the FHCF for hurricane losses in Florida. NOTE 26. CATASTROPHE REINSURANCE (Continued) Reinsurance premiums for the Company’s catastrophe reinsurance programs and the FHCF Program reduced earned premiums for the years ended December 31, 2024, 2023 and 2022 by the following:
The Company did not pay any reinstatement premiums in 2024, 2023, or 2022. Catastrophe losses and LAE (including reserve development), net of reinsurance recoveries, for the years ended December 31, 2024, 2023 and 2022 by business segment are presented below.
The Company had no material recoveries under its catastrophe reinsurance treaties for the years ended December 31, 2024 and 2023. Total prior year catastrophe loss and LAE reserves, net of reinsurance recoverables, developed adversely by $6.0 million in 2024, favorably by $9.1 million in 2023 and favorably by $4.1 million in 2022. The Specialty Property & Casualty Insurance segment reported adverse catastrophe reserve development of $0.7 million, favorable development of $2.3 million, and adverse development of $0.6 million in 2024, 2023 and 2022, respectively. The Life Insurance segment reported favorable catastrophe reserve development of $0.1 million, adverse development of $0.8 million and adverse development of $1.5 million in 2024, 2023 and 2022, respectively. Non-Core Operations reported adverse catastrophe reserve development of $5.4 million, favorable development of $7.6 million and favorable development of $6.2 million in 2024, 2023 and 2022, respectively. The process of estimating and establishing reserves for catastrophe losses is inherently uncertain and the actual ultimate cost of a claim, net of actual reinsurance recoveries, may vary materially from the estimated amount reserved. The Company’s estimates of direct catastrophe losses are generally based on inspections by claims adjusters and historical loss development experience for areas that have not been inspected or for claims that have not yet been reported. The Company’s estimates of direct catastrophe losses are based on the coverages provided by its insurance policies. The Company’s homeowners and dwelling insurance policies do not provide coverage for losses caused by floods, but generally provide coverage for physical damage caused by wind or wind-driven rain. Accordingly, the Company’s estimates of direct losses for homeowners and dwelling insurance do not include losses caused by flood. Depending on the policy, automobile insurance may provide coverage for losses caused by flood. Estimates of the number and severity of claims ultimately reported are influenced by many variables, including, but not limited to, repair or reconstruction costs and determination of cause of loss that are difficult to quantify and will influence the final amount of claim settlements. All these factors, coupled with the impact of the availability of labor and material on costs, require significant judgment in the reserve setting process. A change in any one or more of these factors is likely to result in an ultimate net claim cost different from the estimated reserve. The Company’s estimates of indirect losses from wind pools and joint underwriting associations are based on a variety of factors, including, but not limited to, actual or estimated assessments provided by or received from such entities, insurance industry estimates of losses, and estimates of the Company’s market share in the assessable states. Actual assessments may differ materially from these estimated amounts. OTHER REINSURANCEIn addition to the reinsurance programs described in Note 26, “Catastrophe Reinsurance,” to the Consolidated Financial Statements, Kemper’s insurance subsidiaries utilize other reinsurance arrangements to limit their maximum loss, provide greater diversification of risk and to minimize exposures on larger risks. The ceding of insurance does not discharge the primary NOTE 27. OTHER REINSURANCE (Continued) liability of the original insurer. Accordingly, insurance reserve liabilities are reported gross of any estimated recovery from reinsurers in the Consolidated Balance Sheets. Amounts recoverable from reinsurers are estimated in a manner consistent with the insurance reserve liability and are included in Other Receivables in the Consolidated Balance Sheets. Reinsurance Recoverables were $78.7 million and $86.5 million at December 31, 2024 and 2023, respectively, of which $26.0 million and $34.1 million was related to short-duration policies, respectively, and $52.7 million and $52.4 million related to long-duration policies, respectively. Earned Premiums ceded on long-duration and short-duration policies were $33.1 million, $32.7 million and $42.7 million for the years ended December 31, 2024, 2023 and 2022, respectively, of which $16.4 million, $16.3 million and $32.0 million, respectively, was related to catastrophe reinsurance. See Note 26, “Catastrophe Reinsurance,” to the Consolidated Financial Statements for additional information regarding the Company’s catastrophe reinsurance programs. Certain insurance subsidiaries assume business from other insurance companies and involuntary pools. Earned Premiums assumed on long-duration and short-duration policies were $21.8 million, $42.9 million and $41.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. Trinity and Capitol County Mutual Fire Insurance Company (“Capitol”) are parties to a quota share reinsurance agreement whereby Trinity assumes 100% of the business written by Capitol, subject to a cap, for ceded losses for dwelling coverage. Earned Premiums assumed by Trinity from Capitol were $10.5 million, $10.4 million and $11.9 million for the years ended December 31, 2024, 2023 and 2022, respectively. Capitol is a mutual insurance company and, accordingly, is owned by its policyholders. Trinity and Old Reliable Casualty Company (“ORCC”), a subsidiary of Capitol, are parties to a quota share reinsurance agreement whereby Trinity assumes 100% of the business written by ORCC, subject to a cap, for ceded losses for dwelling coverage. Earned Premiums assumed by Trinity from ORCC were $2.3 million, $2.7 million and $3.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. Five employees of the Company serve as directors of Capitol’s five member board of directors. Nine employees of the Company also serve as directors of ORCC’s nine member board of directors. Kemper’s subsidiary, United Insurance, provides claims and administrative services to Capitol and ORCC. In addition, agents appointed by Kemper’s subsidiary, The Reliable Life Insurance Company, and who are employed by United Insurance, are also appointed by Capitol and ORCC to sell property insurance products for the Company’s Life Insurance segment. The Company also provides certain investment services to Capitol and ORCC.
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Other Reinsurance |
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| Reinsurance Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Reinsurance | CATASTROPHE REINSURANCE 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 will continue to be, a material factor in the results of operations and financial position of the Company’s property and casualty insurance companies. Further, because the level of these insured losses occurring in any one year cannot be accurately predicted, these losses may 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 Company has adopted the industry-wide catastrophe classifications of storms and other events promulgated by the Insurance Services Office (“ISO”) to track and report losses related to catastrophes. ISO classifies a disaster as a catastrophe when the event causes $25.0 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 that follow utilize ISO’s definition of catastrophes. 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 certain regions, and reinsurance. To limit its exposures to catastrophic events, the Company maintains a catastrophe reinsurance program for the property and casualty insurance companies. In 2024, the property business written through the Life segment was included in the catastrophe reinsurance program. Coverage for the catastrophe reinsurance program is provided in various layers through multiple excess of loss reinsurance contracts and an annual aggregate excess property catastrophe reinsurance contract. NOTE 26. CATASTROPHE REINSURANCE (Continued) Coverage on individual catastrophes provided under the excess of loss reinsurance contracts effective January 1, 2024 to December 31, 2024 is provided in various layers as presented below.
Coverage on individual catastrophes provided under the excess of loss reinsurance contracts effective January 1, 2023 to December 31, 2023 is provided in various layers as presented below.
Coverage on individual catastrophes provided under the excess of loss reinsurance contracts effective January 1, 2022 to December 31, 2022 is provided in various layers as presented below.
In the event that the incurred catastrophe losses and LAE covered by the catastrophe reinsurance programs presented in the three preceding tables exceed the retention for that particular layer, each of the programs allow 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 reinsurance available under such layer. The aggregate property catastrophe reinsurance contract was discontinued in 2023. Coverage provided under the 2022 aggregate property catastrophe reinsurance contract is summarized below.
The catastrophe reinsurance in 2024, 2023 and 2022 for the property and casualty insurance companies also included reinsurance coverage from the Florida Hurricane Catastrophe Fund (“FHCF”) for hurricane losses in Florida at retentions lower than those described above. The Life Insurance segment also purchases reinsurance from the FHCF for hurricane losses in Florida. NOTE 26. CATASTROPHE REINSURANCE (Continued) Reinsurance premiums for the Company’s catastrophe reinsurance programs and the FHCF Program reduced earned premiums for the years ended December 31, 2024, 2023 and 2022 by the following:
The Company did not pay any reinstatement premiums in 2024, 2023, or 2022. Catastrophe losses and LAE (including reserve development), net of reinsurance recoveries, for the years ended December 31, 2024, 2023 and 2022 by business segment are presented below.
The Company had no material recoveries under its catastrophe reinsurance treaties for the years ended December 31, 2024 and 2023. Total prior year catastrophe loss and LAE reserves, net of reinsurance recoverables, developed adversely by $6.0 million in 2024, favorably by $9.1 million in 2023 and favorably by $4.1 million in 2022. The Specialty Property & Casualty Insurance segment reported adverse catastrophe reserve development of $0.7 million, favorable development of $2.3 million, and adverse development of $0.6 million in 2024, 2023 and 2022, respectively. The Life Insurance segment reported favorable catastrophe reserve development of $0.1 million, adverse development of $0.8 million and adverse development of $1.5 million in 2024, 2023 and 2022, respectively. Non-Core Operations reported adverse catastrophe reserve development of $5.4 million, favorable development of $7.6 million and favorable development of $6.2 million in 2024, 2023 and 2022, respectively. The process of estimating and establishing reserves for catastrophe losses is inherently uncertain and the actual ultimate cost of a claim, net of actual reinsurance recoveries, may vary materially from the estimated amount reserved. The Company’s estimates of direct catastrophe losses are generally based on inspections by claims adjusters and historical loss development experience for areas that have not been inspected or for claims that have not yet been reported. The Company’s estimates of direct catastrophe losses are based on the coverages provided by its insurance policies. The Company’s homeowners and dwelling insurance policies do not provide coverage for losses caused by floods, but generally provide coverage for physical damage caused by wind or wind-driven rain. Accordingly, the Company’s estimates of direct losses for homeowners and dwelling insurance do not include losses caused by flood. Depending on the policy, automobile insurance may provide coverage for losses caused by flood. Estimates of the number and severity of claims ultimately reported are influenced by many variables, including, but not limited to, repair or reconstruction costs and determination of cause of loss that are difficult to quantify and will influence the final amount of claim settlements. All these factors, coupled with the impact of the availability of labor and material on costs, require significant judgment in the reserve setting process. A change in any one or more of these factors is likely to result in an ultimate net claim cost different from the estimated reserve. The Company’s estimates of indirect losses from wind pools and joint underwriting associations are based on a variety of factors, including, but not limited to, actual or estimated assessments provided by or received from such entities, insurance industry estimates of losses, and estimates of the Company’s market share in the assessable states. Actual assessments may differ materially from these estimated amounts. OTHER REINSURANCEIn addition to the reinsurance programs described in Note 26, “Catastrophe Reinsurance,” to the Consolidated Financial Statements, Kemper’s insurance subsidiaries utilize other reinsurance arrangements to limit their maximum loss, provide greater diversification of risk and to minimize exposures on larger risks. The ceding of insurance does not discharge the primary NOTE 27. OTHER REINSURANCE (Continued) liability of the original insurer. Accordingly, insurance reserve liabilities are reported gross of any estimated recovery from reinsurers in the Consolidated Balance Sheets. Amounts recoverable from reinsurers are estimated in a manner consistent with the insurance reserve liability and are included in Other Receivables in the Consolidated Balance Sheets. Reinsurance Recoverables were $78.7 million and $86.5 million at December 31, 2024 and 2023, respectively, of which $26.0 million and $34.1 million was related to short-duration policies, respectively, and $52.7 million and $52.4 million related to long-duration policies, respectively. Earned Premiums ceded on long-duration and short-duration policies were $33.1 million, $32.7 million and $42.7 million for the years ended December 31, 2024, 2023 and 2022, respectively, of which $16.4 million, $16.3 million and $32.0 million, respectively, was related to catastrophe reinsurance. See Note 26, “Catastrophe Reinsurance,” to the Consolidated Financial Statements for additional information regarding the Company’s catastrophe reinsurance programs. Certain insurance subsidiaries assume business from other insurance companies and involuntary pools. Earned Premiums assumed on long-duration and short-duration policies were $21.8 million, $42.9 million and $41.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. Trinity and Capitol County Mutual Fire Insurance Company (“Capitol”) are parties to a quota share reinsurance agreement whereby Trinity assumes 100% of the business written by Capitol, subject to a cap, for ceded losses for dwelling coverage. Earned Premiums assumed by Trinity from Capitol were $10.5 million, $10.4 million and $11.9 million for the years ended December 31, 2024, 2023 and 2022, respectively. Capitol is a mutual insurance company and, accordingly, is owned by its policyholders. Trinity and Old Reliable Casualty Company (“ORCC”), a subsidiary of Capitol, are parties to a quota share reinsurance agreement whereby Trinity assumes 100% of the business written by ORCC, subject to a cap, for ceded losses for dwelling coverage. Earned Premiums assumed by Trinity from ORCC were $2.3 million, $2.7 million and $3.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. Five employees of the Company serve as directors of Capitol’s five member board of directors. Nine employees of the Company also serve as directors of ORCC’s nine member board of directors. Kemper’s subsidiary, United Insurance, provides claims and administrative services to Capitol and ORCC. In addition, agents appointed by Kemper’s subsidiary, The Reliable Life Insurance Company, and who are employed by United Insurance, are also appointed by Capitol and ORCC to sell property insurance products for the Company’s Life Insurance segment. The Company also provides certain investment services to Capitol and ORCC.
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Income Taxes |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | INCOME TAXES The tax effects of temporary differences that give rise to significant portions of the Company’s Net Deferred Income Tax Assets and Deferred Income Tax Liabilities at December 31, 2024 and 2023 were:
Due to jurisdictional differences in which the Company operates, the consolidated net deferred tax asset of $80.0 million is reported on the Consolidated Balance Sheets as a total deferred tax asset of $94.8 million and a deferred tax liability of $14.8 million. The evaluation of the recoverability of the deferred tax asset and the need for a valuation allowance is based on the weight of all available positive and negative evidence. For the year ended December 31, 2024, a valuation allowance of $38.7 million was recorded against those deferred tax assets that were determined not to be more likely than not to be realized based on Management’s assessment, an increase of $11.3 million from the year ended December 31, 2023 when a $27.4 million valuation allowance was recorded. The expiration of federal net operating loss (“NOL”) carryforwards and their related deferred income tax assets at December 31, 2024 is presented below by year of expiration.
The carryforwards relate to federal NOL carryforwards which the Company expects to fully utilize prior to expiration. There were no Unrecognized Tax Benefits at December 31, 2024, 2023 or 2022. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income Tax Expense (Benefit). There were no liabilities for accrued interest and penalties as of December 31, 2024, 2023 or 2022. NOTE 28. INCOME TAXES (Continued) The statute of limitations related to Kemper and its eligible subsidiaries’ consolidated Federal income tax returns is closed for all tax years up to and including 2011 as well as 2018 and 2019. As a result of the Company filing amended federal income tax returns, tax years 2012 and 2013 are under limited examination with respect to carryback adjustments associated with the amended returns. Tax years 2020 and 2022 are currently under examination. The statute of limitations related to tax years 2014, 2015, 2016, and 2017 has been extended to December 31, 2025. Tax years 2021, 2022 and 2023 are subject to a statute of three years from the extended due dates of October 15, 2022, 2023 and 2024, respectively. The expiration of the statute of limitations related to the various state income tax returns that Kemper and its subsidiaries file varies by state. The components of Income Tax Expense (Benefit) from Operations for the years ended December 31, 2024, 2023 and 2022 were:
Federal income taxes paid, net of income tax refunds received, were $9.9 million and $1.1 million in 2024 and 2022, respectively. Federal income tax refunds received, net of income taxes paid, were $107.7 million in 2023. State income taxes paid, net of income tax refunds received, were $1.3 million and $1.0 million in 2024 and 2023, respectively. State income taxes refunds received, net of income taxes paid, were $0.4 million in 2022. No foreign income taxes were paid or refunded in 2024, 2023, or 2022. A reconciliation of the Statutory Federal Income Tax Expense (Benefit) and Rate to the Company’s Effective Income Tax Expense (Benefit) and Rate from Operations for the years ended December 31, 2024, 2023 and 2022 is presented below.
NOTE 28. INCOME TAXES (Continued) Comprehensive Income Tax Expense (Benefit) included in the Consolidated Financial Statements for the years ended December 31, 2024, 2023 and 2022 was:
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Commitments and Contingencies |
12 Months Ended |
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Dec. 31, 2024 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES In the ordinary course of its businesses, the Company is involved in legal proceedings including lawsuits, arbitration, regulatory examinations, audits and inquiries. Based on currently available information, the Company does not believe that it is reasonably possible that any of its pending legal proceedings will have a material effect on the Company’s Consolidated Financial Statements and Notes to the Consolidated Financial Statements.
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Related Parties |
12 Months Ended |
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Dec. 31, 2024 | |
| Related Party Transactions [Abstract] | |
| Related Parties | RELATED PARTIES As described in Note 27, “Other Reinsurance,” to the Consolidated Financial Statements, the Company has certain relationships with Capitol, a mutual insurance company that is owned by its policyholders, and ORCC, a subsidiary of Capitol. There were no other material related party transactions during the year ended December 31, 2024.
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Schedule 1 - Investments Other Than Investments in Related Parties |
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| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Investments Other than Investments in Related Parties | KEMPER CORPORATION AND SUBSIDIARIES INVESTMENTS OTHER THAN INVESTMENTS IN RELATED PARTIES DECEMBER 31, 2024 (Dollars in Millions)
See Accompanying Report of Independent Registered Public Accounting Firm.
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Schedule 2 - Parent Company Financial Statements |
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| Condensed Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Parent Company Financial Statements | KEMPER CORPORATION PARENT COMPANY BALANCE SHEETS (Dollars in Millions)
See Accompanying Report of Independent Registered Public Accounting Firm. KEMPER CORPORATION PARENT COMPANY STATEMENTS OF INCOME (LOSS) (Dollars in Millions)
See Accompanying Report of Independent Registered Public Accounting Firm. KEMPER CORPORATION PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Dollars in Millions)
KEMPER CORPORATION PARENT COMPANY STATEMENTS OF CASH FLOWS (Dollars in Millions)
See Accompanying Report of Independent Registered Public Accounting Firm. KEMPER CORPORATION FINANCIAL INFORMATION OF KEMPER CORPORATION NOTES TO FINANCIAL INFORMATION (Dollars in Millions) NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial information of Kemper Corporation (“Kemper” or the “Parent Company”) should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in Item 8 of this Form 10-K. Kemper’s subsidiaries are accounted for using the equity method of accounting. Equity in Net Income (Loss) of Subsidiaries of these subsidiaries is presented on the Statements of Operations as Equity in Net Income (Loss) of Subsidiaries. NOTE 2. GUARANTEES On July 1, 2022, Kemper executed an indefinite agreement with its subsidiary, Kemper Bermuda Ltd, which requires Kemper to contribute up to $300.0 million in contributed capital to maintain its minimum Enhanced Capital Requirement (“ECR”) as required by the Bermuda Monetary Authority as a Class C insurer. As of December 31, 2024 and 2023, Kemper had contributed $40.0 million under this agreement. NOTE 3. SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Kemper did not receive any non-cash dividends from or make any non-cash capital contributions to subsidiaries during 2024. In 2023, Kemper received $385.6 million in non-cash dividends from subsidiaries and made non-cash capital contributions of $336.5 million to subsidiaries. NOTE 4. LEASES Kemper leases certain office space for its current and former corporate headquarters under non-cancelable operating leases. The following table presents operating lease Right-of-Use (“ROU”) assets and lease liabilities at December 31, 2024 and 2023.
Supplemental cash flow information related to Kemper’s operating leases for the year-ended December 31, 2024 and December 31, 2023 respectively are presented follows.
Significant judgments and assumptions for determining lease asset and liability as December 31, 2024 and December 31, 2023 respectively are presented below.
KEMPER CORPORATION FINANCIAL INFORMATION OF KEMPER CORPORATION NOTES TO FINANCIAL INFORMATION (Dollars in Millions) NOTE 4. LEASES (Continued) Kemper’s leases do not provide an implicit rate. Accordingly, Kemper uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of its lease payments. Future minimum operating lease payments at December 31, 2024 were:
NOTE 5. DEBT 4.350% Senior Notes Due 2025 Kemper has $450.0 million aggregate principal of 4.350% senior notes due February 15, 2025 (the “2025 Senior Notes”). Kemper initially issued $250.0 million of the notes in February of 2015 and issued an additional $200.0 million of the notes in June of 2017. The additional notes are fungible with the initial notes issued in 2015, and together are treated as part of a single series for all purposes under the indenture governing the 2025 Senior Notes. The 2025 Senior Notes are unsecured and may be redeemed in whole at any time or in part from time to time at Kemper’s option at specified redemption prices. 2.400% Senior Notes Due 2030 Kemper has $400.0 million aggregate principal of 2.400% senior notes due September 30, 2030 (the “2030 Senior Notes”). The net proceeds of issuance were $395.8 million, net of discount and transaction costs for an effective yield of 2.52%. The 2030 Senior Notes are unsecured and may be redeemed in whole at any time or in part from time to time, at Kemper’s option, at specified redemption prices. 3.800% Senior Notes Due 2032 On February 15, 2022, Kemper offered and sold $400.0 million aggregate principal of 3.800% senior notes due February 23, 2032 (the “2032 Senior Notes”). The net proceeds of issuance were $395.1 million, net of discount and transaction costs for an effective yield of 3.950%. The 2032 Senior Notes are unsecured and may be redeemed in whole at any time or in part from time to time, at Kemper’s option, at specified redemption prices. KEMPER CORPORATION FINANCIAL INFORMATION OF KEMPER CORPORATION NOTES TO FINANCIAL INFORMATION (Dollars in Millions) NOTE 5. DEBT (Continued) In anticipation of the issuance of the 2032 Senior Notes and for risk management purposes, the Company entered into a derivative transaction to hedge the risk of changes in the debt cash flows attributable to changes in the benchmark U.S. Treasury interest rate during the period leading up to the debt issuance (“Treasury Lock”). The effective portion of the gain on the derivative instrument upon discontinuance was $5.9 million before taxes, and is reported as a component of Beginning with the issuance of the 2032 Senior Notes described in the preceding paragraph, such gain is being amortized into earnings and reported in Interest Expense in the same periods that the hedged items affect earnings. Amortization, reported in Interest Expense, was $0.6 million for the year ended December 31, 2024. The Company expects to reclassify $0.5 million of net gain on derivative instruments from AOCI to earnings for the twelve months ended December 31, 2025 as interest expense on the debt is recognized. 5.875% Fixed-Rate Reset Junior Subordinated Debentures Due 2062 On March 10, 2022, Kemper issued $150.0 million aggregate principal amount of 5.875% Fixed-Rate Reset Junior Subordinated Debentures due March 15, 2062 (the “2062 Junior Debentures”). The net proceeds from issuance were $144.7 million, net of discount and transaction costs. The 2062 Junior Debentures will bear interest from and including the date of original issue to, but excluding, March 15, 2027 (the “First Reset Date”) at the fixed rate of 5.875% per annum. The interest rate on the First Reset Date, and subsequent Reset Dates, will be equal to the Five-Year Treasury Rate as of the most recent Reset Date plus 4.140% to be reset on each Reset Date. Interest is due quarterly in arrears beginning on June 15, 2022. The Company has the option to defer interest payments for one or more optional deferral periods of up to consecutive years, provided that no optional deferral period shall extend beyond March 15, 2062, or any earlier accelerated maturity date arising from an event of default or any earlier redemption of the 2062 Junior Debentures. The 2062 Junior Debentures are unsecured and may be redeemed in whole or in part on the First Reset Date or any time thereafter, at a redemption price equal to the principal amount of the debentures being redeemed plus any accrued and unpaid interest.
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Schedule 3 - Supplementary Insurance Information |
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| SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplementary Insurance Information | KEMPER CORPORATION AND SUBSIDIARIES SUPPLEMENTARY INSURANCE INFORMATION (Dollars in Millions)
1 The Company’s Life Insurance employee-agents also market certain property and casualty insurance products under common management. Accordingly, the Company includes the results of these property and casualty insurance products in its Life Insurance segment. 2 The Company reports Net Investment Income based on the attributable source of investable funds. The Specialty Property & Casualty Insurance and Non-Core Operations Net Investment Income is allocated from a shared investment portfolio based on the respective amounts of investable funds contributed by each business. Investable funds is determined based on certain liabilities (net of non-invested assets) and required capital. The Life Insurance segment and Corporate and Other Operations Net Investment Incomes are primarily sourced from dedicated investment portfolios. 3 Expenses are allocated based upon specific metrics associated with each business, including but not limited to claim counts, headcount, and budgeted premium. See Accompanying Report of Independent Registered Public Accounting Firm.
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Schedule 4 - Reinsurance Schedule |
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| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reinsurance Schedule | KEMPER CORPORATION REINSURANCE SCHEDULE (Dollars in Millions)
See Accompanying Report of Independent Registered Public Accounting Firm.
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Pay vs Performance Disclosure - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
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| Pay vs Performance Disclosure | |||
| Net Income (Loss) | $ 317.8 | $ (272.1) | $ (286.6) |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | The Company has developed an information security program to assess, identify, and monitor cybersecurity risks. Each year, the Company assesses cybersecurity risks arising from the operating environment. In developing the assessment process, the Company reviews guidance from national standards organizations such as the NIST and the Center for Internet Security. In evaluating the risks identified as a part of this assessment, the Company’s information security team considers the likelihood and severity of the risk and the possible impact of the risk on the Company, its customers, and its employees. These risks are then monitored by the Company’s information security team. The Company conducts periodic testing of software, hardware, defensive capabilities, and other information security systems. Tests are conducted by both internal security teams and third-party consultants. In developing the testing procedures, the Company considers its individual risks and industry standards. Testing procedures are supplemented by executive cyber threat exercises and employee training. Executive exercises such as “tabletops” are used to develop and refine the Company’s incident response plans. Employees undergo security awareness training annually and upon hire. As a part of its information security program, the Company addresses cyber risks posed by its relationships with third-party service and application providers. The Company assesses third parties as a part of the procurement process, including through pre-acquisition diligence. Contractual provisions based on regulatory requirements and industry standards are used in the contracting process, and the Company conducts on-going performance monitoring of key vendors. Security audits are also performed on certain vendors to review compliance with contractual requirements and industry standards. The Company maintains an incident response plan that includes procedures for evaluating and addressing a cybersecurity event. The initial impact of each cybersecurity event is evaluated by a designated team using pre-established risk criteria. If an event meets certain parameters, it is escalated to a cross-functional core team of executives, including the Company’s Chief Information Security Officer (“CISO”) and designated internal legal counsel. The Company has a cyber incident disclosure committee that evaluates and considers whether public disclosure of an event is required. The incident response plan identifies certain third-party advisors, consultants and legal counsel who have been designated to assist if necessary. The plan contains procedures for escalating cybersecurity incidents to the Board of Directors.
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| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | Kemper’s information security program is an element of the Company’s broader Enterprise Risk Management (ERM) framework. This framework employs a management committee structure to review technology, compliance, and operational risks. The Company’s Enterprise Risk Committee (“ERC”), composed of the Chief Executive Officer, the Chief Risk Officer, all executive vice presidents and the head of internal audit, meets at least quarterly to oversee the Company’s ERM framework. This committee monitors the implementation of the ERM framework and makes modifications to the program from time to time as it believes appropriate. The ERC has several subcommittees that oversee particular risks, including cyber and information security.
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| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | The Company’s CISO is primarily responsible for management of the Company’s information security program. The Company’s current CISO has significant experience in information security, as do members of the information security team. The Company participates in certain industry cybersecurity intelligence, risk sharing organizations and law enforcement organizations. Kemper’s information security program is an element of the Company’s broader Enterprise Risk Management (ERM) framework. This framework employs a management committee structure to review technology, compliance, and operational risks. The Company’s Enterprise Risk Committee (“ERC”), composed of the Chief Executive Officer, the Chief Risk Officer, all executive vice presidents and the head of internal audit, meets at least quarterly to oversee the Company’s ERM framework. This committee monitors the implementation of the ERM framework and makes modifications to the program from time to time as it believes appropriate. The ERC has several subcommittees that oversee particular risks, including cyber and information security. Through its role in providing oversight for the Company’s ERM framework, the Risk Committee of the Kemper Board of Directors (the “Risk Committee”) provides oversight of the Company’s information security program. On a quarterly basis, management discusses Kemper’s information security program, cybersecurity risks, and related developments with the Risk Committee. The Risk Committee periodically reviews and evaluates information security and cybersecurity risks and provides oversight of events that have been escalated as a part of the incident response plan.
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| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Company’s CISO is primarily responsible for management of the Company’s information security program. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Company’s Enterprise Risk Committee (“ERC”), composed of the Chief Executive Officer, the Chief Risk Officer, all executive vice presidents and the head of internal audit, meets at least quarterly to oversee the Company’s ERM framework. |
| Cybersecurity Risk Role of Management [Text Block] | Through its role in providing oversight for the Company’s ERM framework, the Risk Committee of the Kemper Board of Directors (the “Risk Committee”) provides oversight of the Company’s information security program. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | The Company’s CISO is primarily responsible for management of the Company’s information security program. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | The Company’s current CISO has significant experience in information security, as do members of the information security team. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | On a quarterly basis, management discusses Kemper’s information security program, cybersecurity risks, and related developments with the Risk Committee. The Risk Committee periodically reviews and evaluates information security and cybersecurity risks and provides oversight of events that have been escalated as a part of the incident response plan.
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| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Summary of Accounting Policies and Accounting Changes (Policies) |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Accounting Policies [Abstract] | |
| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Many of these estimates and assumptions are common in the insurance and financial services industries; others are specific to the Company’s business and operations. Actual results could differ materially from those estimates and assumptions. The fair values of the Company’s Investments in Fixed Maturities, Investments in Convertible Securities at Fair Value, Investments in Equity Securities at Fair Value and Debt are estimated using a hierarchical framework which prioritizes and ranks market price observability of inputs used in fair value measurements. The carrying amounts reported in the Consolidated Balance Sheets approximate fair value for Cash, Short-term Investments and certain other assets and other liabilities because of their short-term nature. The actual value at which financial instruments could be sold or settled with a willing buyer or seller may differ from estimated fair values depending on a number of factors, including, but not limited to, current and future economic conditions, the quantity sold or settled, the presence of an active market and the availability of a willing buyer or seller. The Company’s portfolio also includes investments in Alternative Energy Partnerships that are accounted for under the Hypothetical Liquidation at Book Value (“HLBV”) method. Under the HLBV method, the amounts of income and loss attributed to investors reflect changes in the amounts the fund investors would hypothetically receive at each balance sheet date under the liquidation provisions of the contractual agreements of these funds. Attributing income and loss under the HLBV method requires the use of significant assumptions and forecasts to calculate the amounts that fund investors would receive upon a hypothetical liquidation. The process of estimating and establishing reserves for losses and loss adjustment expenses (“LAE”) for property and casualty insurance is inherently uncertain, and the actual ultimate net cost of known and unknown claims may vary materially from the estimated amounts reserved. The reserving process is particularly imprecise for claims involving long-tailed exposures, which may not be discovered or reported until years after the insurance policy period has ended. Management considers a variety of factors, including, but not limited to, past claims experience, current claim trends and relevant legal, economic and social conditions, in estimating reserves. A change in any one or more factors is likely to result in the ultimate net claim costs differing from the estimated reserve. Changes in such estimates may be material and would be recognized in the Consolidated Financial Statements when such estimates change. The process of determining whether an asset is impaired or recoverable relies on projections of future cash flows, operating results and market conditions. Projections are inherently uncertain, and, accordingly, actual future cash flows and operating results may differ materially from those projected. As a result, the Company’s assessment of the impairment of long-lived assets and recoverability of deferred tax assets is susceptible to the risk inherent in making such projections.
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| Investments | Investments Investments in Fixed Maturities include bonds, notes and redeemable preferred stocks. Investments in Fixed Maturities are classified as available for sale and reported at fair value. Net Investment Income, including amortization of purchased premiums and accretion of market discounts, on Investments in Fixed Maturities is recognized as interest over the period that it is earned using the effective yield method. Unrealized appreciation or depreciation, net of applicable deferred income taxes, on fixed maturities classified as available for sale is reported in Accumulated Other Comprehensive (Loss) Income (“AOCI”) included in Shareholders’ Equity. Equity investments include common stocks, non-redeemable preferred stocks, exchange traded funds, money market mutual funds and limited liability companies, and investment partnerships in which the Company’s interests are deemed minor. Equity investments with readily determinable fair values are recorded as Equity Securities at Fair Value on the Consolidated Balance Sheets. Equity investments without readily determinable fair values are recorded as Equity Securities at Fair Value on the Consolidated Balance Sheets using the net asset value (“NAV”) per share practical expedient for estimating fair value. The changes in the fair value of such equity securities are reported as Change in Fair Value of Equity and Convertible Securities in the Consolidated Statements of Income (Loss). Dividend income on investments in common and non-redeemable preferred stocks is recognized on the ex-dividend date. Equity Method Limited Liability Investments include investments in limited liability investment companies and limited partnerships in which the Company’s interests are not deemed minor and are accounted for under the equity method of accounting whereby changes in net asset values are recorded in Net Investment Income in the Consolidated Statements of Income (Loss). Partnerships for which results are not available on a timely basis are reported on a lag. Investments in Alternative Energy Partnerships are measured using the HLBV method of equity method accounting whereby changes in the estimated amount the Company would receive upon the liquidation and distribution of the equity investment’s net assets are recorded in Net Investment Income. Tax credits allocated from investments in Alternative Energy Partnerships are recognized using the flow-through method, where credits are recorded as a reduction to tax expense in the period earned. Differences in the basis calculated under tax law and GAAP are recognized using the income statement approach, where basis differences are recorded to Income Tax Expense (Benefit) immediately, rather than deferred as adjustments to the carrying value of the asset. Partnerships for which results are not available on a timely basis are reported on a lag. Short-term Investments include certificates of deposit and other fixed maturities that mature within one year from the date of purchase, U.S. Treasury bills, money market mutual funds and overnight interest-bearing accounts. Short-term Investments are reported at cost, which approximates fair value. Company-Owned Life Insurance (“COLI”) is reported at cash surrender value with changes due to cost of insurance and investment experience reported in Net Investment Income in the Consolidated Statements of Income (Loss). Loans to Policyholders are carried at unpaid principal balance. Other Investments primarily include Equity Securities at Modified Cost, Convertible Securities at Fair Value, Real Estate, and Mortgage Loans. Equity Securities at Modified Cost do not have readily determinable fair values and are held at cost, less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. Investments in Convertible Securities include fixed maturities with equity conversion features. The Company has elected the fair value option method of accounting for investments in Convertible Securities and records Convertible Securities at fair value on the Consolidated Balance Sheets. Real Estate is carried at cost, net of accumulated depreciation. Real Estate is depreciated over the estimated useful life of the asset using the straight-line method of depreciation. Real Estate is evaluated for impairment when events or circumstances indicate the carrying value may not be recoverable. An impairment loss on real estate is recognized when the carrying value exceeds the sum of undiscounted projected future cash flows as well as the fair value, or, in the case of a property classified as held for sale, when the carrying value exceeds the fair value, net of costs to sell. Mortgage Loans are carried at amortized cost, net of a reserve for expected credit losses as applicable. Investments in Fixed Maturities - Impairment Losses For fixed maturity investments that the Company intends to sell or for which it is more likely than not that the Company will be required to sell before an anticipated recovery of value, the full amount of the impairment is reported in Impairment NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) Losses. The Company writes down the investment’s amortized cost to its fair value, and will not adjust for any subsequent recoveries. For fixed maturity investments that the Company does not intend to sell or for which it is more likely than not that the Company will not be required to sell before an anticipated recovery of value, the Company will evaluate whether a decline in fair value below the amortized cost basis has occurred from a credit loss or other factors (non-credit related). Considerations in the credit loss assessment include (1) extent to which the fair value has been less than amortized cost, (2) conditions related to the security, an industry, or a geographic area, (3) payment structure of the investment and the likelihood of the issuer's ability to make contractual cash flows, (4) defaults or other collectability concerns related to the issuer, (5) changes in the ratings assigned by a rating agency and (6) other credit enhancements that affect the investment’s expected performance. Any increase or decrease in the expected allowance for credit losses related to investments is recognized in Impairment Losses. The expected allowance for credit losses is limited by the amount that the fair value is less than the amortized cost basis and is adjusted for any additional expected credit losses or subsequent recoveries. The amortized cost basis of the investment is not adjusted for the expected allowance for credit loss. The impairment related to other factors (non-credit related) is reported in Other Comprehensive Income (Loss), net of income taxes. The Company reports accrued investment income separately for available-for-sale fixed maturity securities and has elected not to measure an allowance for credit losses on accrued investment income. Accrued investment income is written off through Impairment Losses at the time the issuer of the bond defaults or is expected to default on interest payments.
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| Fair Value Measurements | Fair Value Measurements The Company uses a hierarchical framework which prioritizes and ranks the market observability of inputs used in fair value measurements. Market price observability is affected by a number of factors, including the type of asset or liability and the characteristics specific to the asset or liability being measured. Assets and liabilities with readily available, active, quoted market prices or for which fair value can be measured from actively quoted prices generally are deemed to have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. The Company classifies the inputs used to measure fair value into one of three levels as follows: •Level 1 — Quoted prices in an active market for identical assets or liabilities; •Level 2 — Observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and •Level 3 — Significant unobservable inputs for the asset or liability being measured. Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those cases, the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level of input that is significant to the entire measurement. Such determination requires significant management judgment.
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| Deferred Policy Acquisition Costs | Deferred Policy Acquisition Costs Costs directly associated with the successful acquisition of business, principally commissions and certain premium taxes and policy issuance costs, are deferred. Commissions for servicing policies are expensed as incurred, rather than deferred and amortized. Costs deferred on property and casualty insurance contracts and short-duration health insurance contracts are amortized over the period in which premiums are earned. Deferred costs on traditional life insurance products and other long duration insurance contracts are grouped by contract type and issue year into cohorts consistent with the grouping used in estimating the associated liability. These deferred costs are amortized on a constant level basis for grouped contracts over the expected term of the related contracts to approximate straight-line amortization. The expected term of the contract used for amortization is determined using mortality and termination assumptions that are based on the Company’s experience, industry data, and other factors and are consistent with those used for the liability for future policyholder benefits. If those projected assumptions change in future periods, they will be reflected in the straight-line amortization horizon at that time. Unexpected terminations, due to higher mortality and termination experience than expected, are recognized in the current period as a reduction of the capitalized balances. Amortization of deferred policy acquisition costs is included in Insurance and Other Expenses in the Consolidated Statements of Income (Loss). NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) Deferred Profit Liability For limited-payment life products, gross premiums received in excess of net premiums are deferred at initial recognition as a deferred profit liability (“DPL”). Gross premiums are measured using assumptions consistent with those used in the measurement of the liability for future policyholder benefits, including discount rate, mortality, lapses, and expenses. The DPL is amortized and recognized as premium revenue in proportion to insurance in force for nonparticipating limited-payment contracts. Interest is accreted on the balance of the DPL using the discount rate determined at contract issuance. The Company reviews and updates its estimates of cash flows for the DPL at the same time as the estimates of cash flows for the liability for future policyholder benefits. When cash flows are updated, the updated estimates are used to recalculate the DPL at contract issuance. The recalculated DPL as of the beginning of the current reporting period is compared to the carrying amount of the DPL as of the beginning of the current reporting period, and any difference is recognized as either an increase or decrease to Earned Premiums.
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| Goodwill | Goodwill The cost of an acquired entity over the fair value of net assets acquired is reported as Goodwill. Goodwill is not amortized, but rather is tested for recoverability annually or when certain triggering events require testing.
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| Insurance Reserves | Insurance Reserves Reserves for losses and LAE on property and casualty insurance coverage and health insurance coverage represent the estimated claim cost and loss adjustment expense necessary to cover the ultimate net cost of investigating and settling all losses incurred and unpaid at the end of any given accounting period. Such estimates are based on individual case estimates for reported claims and estimates for incurred but not reported (“IBNR”) losses, including expected development on reported claims. These estimates are adjusted in the aggregate for ultimate loss expectations based on historical experience patterns and current economic trends, with any change in the estimated ultimate liabilities being reported in the Consolidated Statements of Income (Loss) in the period of change. Changes in such estimates may be material. For life insurance products, the liability for future policyholder benefits is the present value of estimated future policyholder benefits to be paid to or on behalf of policyholders and certain related expenses, less the present value of estimated future net premiums to be collected from policyholders. The liability is estimated using current assumptions that include discount rate, mortality, lapses and expenses. These current assumptions are based on judgments that consider the Company’s historical experience, industry data, and other factors. The liability is adjusted for differences between actual and expected experience. The Company reviews and updates its estimate of cash flows expected over the lifetime of a group of contracts using actual historical experience quarterly and current future cash flow assumptions at least annually to calculate its revised net premium ratio. The revised net premium ratios are then used to calculate an updated liability for future policyholder benefits for the current reporting period, discounted at the original contract issuance discount rate. The Company has elected to use expense assumptions that are locked in at contract inception and are not subsequently reviewed or updated. Resulting changes in the liability due to differences in actual versus expected experience, changes in current cash flow assumptions, and prefunding and payout of benefits compared to the carrying amount of the liability as of that same date are recorded as a separate component of benefit expense in the Consolidated Statements of Income (Loss). When a cohort’s present value of future net premiums exceeds the present value of future benefits, a “flooring” adjustment is required. The flooring adjustment ensures that the liability for future policy benefits for each cohort is not less than zero, and is reported in Net Income (Loss) or Other Comprehensive Income (Loss), depending on whether the flooring relates to the future policy benefits discounted at the locked-in discount rate versus the current upper-medium grade discount rate, respectively. The current discount rate assumption is an equivalent spot rate curve of annually compounded rates at monthly increments that is derived based on A-credit rated fixed-income instruments reflecting the duration characteristics of the liability. The Company utilizes published corporate yield curves from Bloomberg’s BVAL Investment Grade Corporate Sector curve. The discount rate assumption is updated quarterly and used to remeasure the liability at the reporting date, with the resulting change reflected in Other Comprehensive Income (Loss). For liability cash flows that are projected beyond the maximum observable point on the yield curve, the yield grades to an ultimate forward rate. Insurance Reserves for life insurance products are comprised of reserves for future policy benefits plus an estimate of the Company’s liability for unpaid life insurance claims and claims adjustment expenses, which includes an estimate for IBNR life insurance claims. The Company utilizes the database of reported deaths maintained by the Social Security Administration or NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) other comparable database (a “Death master File” or “DMF”) to identify potential situations where the Company has yet to be notified of an insured’s death and, as appropriate, initiating an outreach process to identify and contact beneficiaries and settle claims.
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| Policyholder Contract Liabilities | Policyholder Obligations Policyholder Obligations include Federal Home Loan Bank (“FHLB”) funding agreements used for spread lending purposes and universal life-type policyholder contracts and are stated at account balances.
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| Receivables from Policyholders - Allowance for Expected Credit Losses | Receivables from Policyholders - Allowance for Expected Credit Losses The allowance for credit losses is a valuation account that is deducted from the receivables from policyholders based on the net amount expected to be collected on the insurance contract. Receivables from policyholders are charged off against the allowance when management believes the receivable is uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Management estimates the allowance using relevant available information, from internal and external sources, related to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience on the receivables from policyholders provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current environmental conditions, primarily unemployment rates that could impact an insured’s ability to pay premiums.
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| Other Receivables | Other Receivables Other Receivables primarily include reinsurance recoverables, accrued investment income, and receivables from limited liability investments and investments in partnerships. Reinsurance Recoverables were $24.3 million and $27.8 million at December 31, 2024 and 2023, respectively. Accrued Investment Income was $81.9 million and $88.4 million at December 31, 2024 and 2023, respectively. Receivables from limited liability investments and investments in partnerships were $0.3 million and $0.0 million at December 31, 2024 and 2023, respectively.
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| Other Assets | Other Assets Other Assets primarily include property and equipment, internal use software, right-of-use assets, insurance licenses acquired in business combinations, other intangible assets acquired in a business combination and prepaid expenses. Property and equipment is depreciated over the useful lives of the assets, generally using the straight-line or double declining balance methods of depreciation depending on the asset involved. Internal use software is amortized over the useful life of the asset using the straight-line method of amortization and is evaluated for recoverability upon identification of impairment indications. Insurance licenses acquired in business combinations and other indefinite life intangibles are not amortized, but rather tested periodically for recoverability. The Company accounts for the value of business acquired (“VOBA”) based on actuarial estimates of the present value of future cash flows embedded in insurance in force as of an acquisition date. VOBA was $12.1 million and $13.8 million at December 31, 2024 and 2023, respectively. VOBA is amortized over the expected profit emergence period of the policies in force as of the acquisition date. The Company evaluates VOBA assets for recoverability annually. The Company accounts for the future profits embedded in customer relationships (“Customer Relationships”) acquired based on the present value of estimated future cash flows from such relationships. Customer Relationships were $1.5 million and $1.7 million at December 31, 2024 and 2023, respectively, and are amortized on a straight-line basis over the estimated useful life of the relationship. Customer Relationships are tested for recoverability using undiscounted projections of future cash flows and are written down to estimated fair value if the carrying value exceeds the sum of such projections of undiscounted cash flows. The Company accounts for the present value of the future profits embedded in broker or agent relationships acquired (“Agent Relationships”) based on the present value of estimated future cash flows from such acquired relationships or, using the cost recovery method, which estimates the ultimate cost to build a comparable distribution network. Agent Relationships were $37.7 million and $43.4 million at December 31, 2024 and 2023, respectively, and are amortized on a straight-line basis over the estimated useful life of the relationship. Agent Relationships are tested for recoverability using undiscounted projections of NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) future cash flows and are written down to estimated fair value if the carrying value exceeds the sum of such projections of undiscounted cash flows.
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| Accrued Expenses and Other Liabilities | Accrued Expenses and Other Liabilities Accrued Expenses and Other Liabilities primarily include drafts payable, accrued salaries and commissions, postretirement medical benefits, lease liability and accrued taxes, licenses and fees.
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| Recognition of Earned Premiums and Related Expenses | Recognition of Earned Premiums and Related Expenses Property and casualty insurance and short-duration health insurance premiums are deferred when written and recognized and earned ratably over the periods to which the premiums relate. Unearned Premiums represent the portion of the premiums written related to the unexpired portion of policies in force which has been deferred and is reported as a liability. The Company performs a premium deficiency analysis typically at a business level, namely Specialty Property & Casualty Insurance and Non-Core Operations, which is consistent with the manner in which the Company acquires and services policies and measures profitability. Anticipated investment income is included in this analysis. A premium deficiency is recognized when the sum of expected claim costs, claim adjustment expenses, unamortized deferred policy acquisition costs and maintenance costs exceeds the related unearned premiums by first reducing related deferred policy acquisition costs to an amount, but not below zero, at which the premium deficiency would not exist. If a premium deficiency remains after first reducing deferred policy acquisition costs, a premium deficiency reserve is established and reported as a liability in the Consolidated Financial Statements. Traditional life insurance premiums are recognized as revenue when due. Policyholders’ benefits are associated with related premiums to result in recognition of profits over the periods for which the benefits are provided using the net level premium method. Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses include provisions for future policy benefits under life and certain accident and health insurance contracts and provisions for reported claims, estimates for IBNR claims and loss adjustment expenses. Benefit payments in excess of policy account balances are expensed.
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| Reinsurance | Reinsurance In the normal course of business, Kemper’s insurance subsidiaries reinsure certain risks above certain retention levels with other insurance enterprises. These reinsurance agreements do not relieve Kemper’s insurance subsidiaries of their legal obligations to the policyholder. Amounts recoverable from reinsurers are included in Other Receivables. Gains related to long-duration reinsurance contracts are deferred and amortized over the life of the underlying reinsured policies. Losses related to long-duration reinsurance contracts are recognized immediately. Any gain or loss associated with reinsurance agreements for which Kemper’s insurance subsidiaries have been legally relieved of their obligations to the policyholder is recognized in the period of relief.
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| Income Taxes | Income Taxes Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance, if any, is maintained for the portion of deferred income tax assets that the Company does not expect to recover. Increases, if any, in the valuation allowance for deferred income tax assets are recognized as Income Tax Expense (Benefit). Decreases, if any, in the valuation allowance for deferred income tax assets are generally recognized as income tax benefit. The effect on deferred income tax assets and liabilities of a change in tax law including a change in tax rates is recognized in income from operations in the period in which the change is enacted. The Company reports a liability for unrecognized tax benefits, if any, resulting from uncertain tax positions taken, or expected to be taken, in an income tax return, if any. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income Tax Expense (Benefit).
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| Variable Interest Entities | Variable Interest Entities A VIE is a legal entity that does not have sufficient equity at risk to finance its activities without additional subordinated financial support or is structured such that equity investors lack the ability to make significant decisions relating to the entity's operations through voting rights or do not substantively participate in the gains and losses of the entity. The Company consolidates VIEs in which the Company is deemed the primary beneficiary. The primary beneficiary is the entity that has both (1) the power to direct the activities of the VIE that most significantly affect that entity's economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE.
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| Noncontrolling Interests | Noncontrolling Interests Noncontrolling interest is the portion of equity (net assets) not attributable, directly or indirectly, to a parent. The Company has no ownership interest in Kemper Reciprocal, but consolidates it as the Company is considered the primary beneficiary.
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| Adoption of New Accounting Guidance | Adoption of New Accounting Guidance The Company has adopted all recently issued accounting pronouncements with effective dates prior to January 1, 2025. Guidance Adopted in 2024 In March 2023, the FASB issued ASU 2023-02 Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method, which expands the use of the proportional amortization method of accounting to equity investments in other tax credit structures that meet certain criteria. The proportional amortization method results in the tax credit investment being amortized in proportion to the allocation of tax credits and other tax benefits in each period, and a net presentation within the income tax line item. ASU 2023-02 is effective for annual periods beginning after December 15, 2023 and interim periods within those annual periods. The Company adopted the new standard on January 1, 2024. The adoption did not have a material impact on the Company's Consolidated Financial Statements. In November 2023, the FASB issued ASU 2023-07 Improvements to Reportable Segment Disclosures, which enhances disclosures about significant segment expenses. The new standard does not change the definition or aggregation of operating segments but will add required disclosures of significant expenses for each reportable segment as well as certain other disclosures to help financial statement users understand how the chief operating decision maker evaluates segment expenses and operating results. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company adopted this ASU and has included all required information in the Notes to the Consolidated Financial Statements. Guidance Not Yet Adopted In October 2023, the FASB issued ASU 2023-06 Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This ASU amends the disclosure or presentation requirements related to various subtopics in the FASB Accounting Standards Codification. For SEC registrants, the effective date for each amendment will be the date on which the SEC’s removal of that related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company will monitor the removal of various requirements from the current regulations in order to determine when to adopt the related amendments, but does not anticipate the adoption of the new guidance will have a material impact on the Company’s Consolidated Financial Statements. The Company will continue to evaluate the impact of this guidance on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09 Improvements to Income Tax Disclosures, which improves the transparency of income tax disclosures by requiring companies to use consistent categories and greater disaggregation of information in the tax rate reconciliation as well as requiring disaggregation of income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In March 2024, the SEC adopted a final rule requiring registrants to disclose certain climate-related information in their registration statements and annual reports. The rule requires the disclosure of qualitative and quantitative information, with certain information, such as financial statement effects of severe weather events, included in the notes to the audited financial statements. Other disclosure requirements include material climate-related risks, processes to manage and govern those risks, NOTE 2. SUMMARY OF ACCOUNTING POLICIES AND ACCOUNTING CHANGES (Continued) disclosure of targets if the targets materially affect or are reasonably likely to materially affect the Company, and, if material, disclosure of certain greenhouse gas emissions. On April 4, 2024, the SEC issued a voluntary stay of the final rule, pending the outcome of pending litigation. The requirements will be applied prospectively and have phased-in effective dates. For the Company, the Form 10-K for the year ending December 31, 2025, will be the first annual report with new climate-related disclosures. The Company is currently evaluating the impact of adopting the final rule. In November 2024, the FASB issued ASU 2024-03 Disaggregation of Income Statement Expenses, which requires companies to disclose, within the financial statement footnotes, the amount of inventory purchases, employee compensation, depreciation, intangible asset amortization and depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities that contribute to each income statement expense line item, as well as the amount of selling expenses incurred during each reporting period. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.
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Net Income (Loss) Per Unrestricted Share (Tables) |
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| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Calculation of Numerator and Denominator in Earnings Per Share | A reconciliation of the numerator and denominator used in the calculation of Basic Net Income (Loss) Per Unrestricted Share and Diluted Net Income (Loss) Per Unrestricted Share for the years ended December 31, 2024, 2023 and 2022 is presented below.
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Dispositions (Tables) |
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| Disposal Groups, Including Discontinued Operations | The following table summarizes the assets and liabilities included in the sale on December 1, 2022:
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Business Segments (Tables) |
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Assets | Total Segment, Non-Core Operations, and Corporate and Other assets at December 31, 2024, 2023, and 2022 were:
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| Earned Premiums by Product Line | Earned Premiums by product line for the years ended December 31, 2024, 2023 and 2022 were:
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| Segment Revenues | Segment Revenues, including a reconciliation to Total Revenues, for the years ended December 31, 2024, 2023 and 2022 were:
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| Segment Expenses | Significant Segment Expenses that were regularly provided to the CODM for the years ended December 31, 2024, 2023 and 2022 were:
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| Segment Net Income (Loss) | Adjusted Consolidated Net Operating Income (Loss), including a reconciliation to Net Income (Loss) attributable to Kemper Corporation, for the years ended December 31, 2024, 2023 and 2022 was:
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Liability for Future Policyholder Benefits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Liability for Future Policy Benefit, Activity | The following tables summarize balances and changes in the present value of expected net premiums, present value of expected future policyholder benefits and net liability for future policyholder benefits as of and for the years ended December 31, 2024, 2023 and 2022:
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| Weighted-Average Liability Duration | The weighted-average liability duration of the liability for future policyholder benefits as calculated under current rates is as follows:
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| Reconciliation of Net Liability for Future Policyholder Benefits | The reconciliation of the net liability for future policyholder benefits to Life and Health Insurance Reserves in the Consolidated Balance Sheets is as follows:
1Other primarily consists of Accident and Health and Universal Life reserves
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| Undiscounted Expected Gross Premiums and Expected Future Benefit Payments | The amounts of expected undiscounted future benefit payments, expected undiscounted future gross premiums and expected discounted future gross premiums, is as follows:
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| Liability for Future Policy Benefits Interest Expense and Premiums | The amount of revenue and interest recognized in the Consolidated Statements of Income (Loss) is as follows:
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| Weighted Average Interest Rate for Future Policyholder Benfits | The weighted-average interest rate is as follows:
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| Policyholder Account Balance | The balances of and changes in Deferred Profit Liability as of and for the years indicated below are as follows:
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Deferred Policy Acquisition Costs (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Policy Acquisition Costs | The following table presents the balances and changes in Deferred Policy Acquisition Costs for the Specialty Property and Casualty Insurance segment, Life Insurance segment, and Non-Core Operations business for the years ended December 31, 2024, 2023 and 2022:
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Receivables from Policyholders - Allowance for Expected Credit Losses (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Premium Receivable, Allowance for Credit Loss | The following tables present the balances of Receivables from Policyholders, net of the allowance for expected credit losses, as of December 31, 2024 and 2023, and a roll forward of changes in the allowance for expected credit losses for the years ended December 31, 2024 and 2023.
NOTE 9 - RECEIVABLES FROM POLICYHOLDERS - ALLOWANCE FOR EXPECTED CREDIT LOSSES (Continued)
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Property and Casualty Insurance Reserves (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Short-duration Insurance Contracts, Claims Development | NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Specialty Personal Automobile Insurance—Liability1
1 Tables retrospectively include American Access Casualty Company’s (“AAC”) historical incurred and paid accident year claim information for all periods presented. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Specialty Personal Automobile Insurance—Physical Damage1
1 Tables retrospectively include AAC’s historical incurred and paid accident year claim information for all periods presented. NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Commercial Automobile Insurance—Liability
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Commercial Automobile Insurance—Physical Damage
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Non-Core Personal Automobile Insurance—Liability
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Non-Core Personal Automobile Insurance—Physical Damage
NOTE 6. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued) Non-Core Homeowners Insurance
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| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability | The following table reconciles the net incurred and paid claims development tables presented above to the Company's liability for Property and Casualty Insurance Reserves included in the Consolidated Balance Sheets at December 31, 2024.
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| Short-duration Insurance Contracts, Schedule of Historical Claims Duration | The following is supplementary information about average historical claims duration as of December 31, 2024.
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| Premium Receivable, Allowance for Credit Loss | The following tables present the balances of Receivables from Policyholders, net of the allowance for expected credit losses, as of December 31, 2024 and 2023, and a roll forward of changes in the allowance for expected credit losses for the years ended December 31, 2024 and 2023.
NOTE 9 - RECEIVABLES FROM POLICYHOLDERS - ALLOWANCE FOR EXPECTED CREDIT LOSSES (Continued)
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Insurance and Other Expenses (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance and Other Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Insurance and Other Expenses | Insurance and Other Expenses for the years ended December 31, 2024, 2023 and 2022 were:
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Investments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Unrealized Loss on Investments | An aging of unrealized losses on the Company’s Investments in Fixed Maturities at December 31, 2024 is presented below.
An aging of unrealized losses on the Company’s Investments in Fixed Maturities at December 31, 2023 is presented below.
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| Debt Securities, Available-for-Sale, Allowance for Credit Loss | The following table sets forth the change in allowance for credit losses on fixed maturities available-for-sale by major security type for the year ended December 31, 2024. Accrued interest excluded from the amortized cost of fixed income securities total $70.9 million and $77.0 million as of December 31, 2024 and 2023, respectively, and is reported within the Other Receivables line of the Consolidated Balance Sheets. The Company monitors accrued interest and writes off amounts when they are deemed uncollectible.
The following table sets forth the change in allowance for credit losses on fixed maturities available-for-sale by major security type for the year ended December 31, 2023.
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| Schedule of Other Investments | The carrying values of the Company’s Other Investments at December 31, 2024 and 2023 were:
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| Investments in Fixed Maturities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Available-for-sale Securities Reconciliation | The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2024 were:
The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2023 were:
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| Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair values of the Company’s Investments in Fixed Maturities at December 31, 2024 by contractual maturity were:
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Income from Investments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Income, Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Investment Income | Net Investment Income for the years ended December 31, 2024, 2023 and 2022 was:
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| Realized Gain (Loss) on Investments | The components of Net Realized Gains (Losses) for the years ended December 31, 2024, 2023 and 2022 were:
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| Other than Temporary Impairment, Credit Losses Recognized in Earnings | The components of Impairment Losses reported in the Consolidated Statements of Income (Loss) for the years ended December 31, 2024, 2023 and 2022 were:
I Includes losses from intent-to-sell securities of $3.3 million, $2.0 million and $23.8 million for the years ended December 31, 2024, 2023 and 2022, respectively.
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Derivatives (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The following table presents the Company’s Ultra-Long Treasury Futures derivatives, primary underlying risk exposure, gross notional amount, and estimated fair value of these derivatives:
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| Derivative Instruments, Gain (Loss) | The below table reflects the amounts of Gains (Losses) deferred into AOCI before taxes, net changes in amounts in AOCI associated with current hedging transactions, and amounts subsequently reclassified into Net Income (Loss) through Net Investment Income for Ultra-Long Treasury Futures qualifying as cash flow hedges for the years ended December 31, 2024 and 2023:
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Fair Value Measurements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | The valuation of assets and liabilities measured at fair value in the Company’s Consolidated Balance Sheets at December 31, 2024 is summarized below.
The valuation of assets and liabilities measured at fair value in the Company’s Consolidated Balance Sheets at December 31, 2023 is summarized below. The Company had no material liabilities that are measured and reported at fair value.
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| Fair Value Inputs, Assets, Quantitative Information | The table below presents quantitative information about the significant unobservable inputs utilized by the Company in determining fair values for fixed maturity investments classified as Level 3 at December 31, 2024. Valuations for assets presented in the tables below are primarily based on broker/dealer quotes for which there is a lack of transparency as to inputs used to develop the valuations. The quantitative detail of these unobservable inputs is neither provided nor reasonably available to the Company. The weighted average yield is calculated based on fair value.
The table below presents quantitative information about the significant unobservable inputs utilized by the Company in determining fair values for fixed maturity investments classified as Level 3 at December 31, 2023. Valuations for assets presented in the tables below are primarily based on broker/dealer quotes for which there is a lack of transparency as to inputs used to develop the valuations. The quantitative detail of these unobservable inputs is neither provided nor reasonably available to the Company. The weighted average yield is calculated based on fair value.
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| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the year ended December 31, 2024 is presented below.
Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the year ended December 31, 2023 is presented below.
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| Fair Value, by Balance Sheet Grouping | Presented below are the carrying values and fair value estimates of financial instruments not carried at fair value.
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| Fair Value Disclosure of Asset and Liability Not Measured at Fair Value | The table below shows investments reported at fair value using NAV and their unfunded commitments by asset class as of December 31, 2024 and 2023, respectively.
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| Investment Holdings, Other than Securities | The following table includes information related to the Company’s investments in certain private equity funds or hedge funds that calculate a net asset value per share:
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Goodwill and Intangible Assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Goodwill | Goodwill balances by business segment at December 31, 2024 and 2023 were:
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| Schedule of Definite-Life Intangible Assets | The gross carrying amount and accumulated amortization of definite and indefinite life intangible assets at December 31, 2024 and 2023 were:
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| Schedule of Indefinite-Life Intangible Assets | The gross carrying amount and accumulated amortization of definite and indefinite life intangible assets at December 31, 2024 and 2023 were:
|
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| Finite-Lived Intangible Assets Amortization Expense | In 2024, 2023 and 2022, the Company recognized the following amortization expense on definite life intangible assets:
|
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| Schedule of Definite-Life Intangible Assets, Future Amortization Expense | The amount of amortization expense expected to be recorded in the next five years for definite life intangible assets is as follows:
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Variable Interest Entities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Variable Interest Entities |
|
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Other Comprehensive (Loss) Income And Accumulated Other Comprehensive Income (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Comprehensive Income (Loss) | The tables below display the changes in Accumulated Other Comprehensive Loss by component for the years ended December 31, 2024, 2023 and 2022:
Amounts reclassified from Accumulated Other Comprehensive Loss shown above are reported in Net Income (Loss) as follows:
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Statutory Information and Dividend Limitations (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Statutory Accounting Practices Disclosure | The estimated combined statutory net income (loss), excluding intercompany dividends and surplus note interest, and estimated combined capital and surplus of the Company’s insurance subsidiaries is as follows:
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Pension Benefits (Tables) - Pension Plans |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes in Fair Value of Plan Assets | Changes in Fair Value of Plan Assets and Changes in Projected Benefit Obligation for the Pension Plan for the years ended December 31, 2024 and 2023 is presented below.
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| Schedule of Allocation of Plan Assets | Asset allocations for the Pension Plan at December 31, 2024 and 2023 by asset category were:
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| Fair Value, Measurement Inputs, Disclosure | Fair value measurements for the Pension Plan’s assets at December 31, 2023 are summarized below.
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| Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) | The components of Comprehensive Pension (Income) Expense for the Pension Plan for the years ended December 31, 2024, 2023 and 2022 were:
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| Schedule of Assumptions Used | The weighted-average discount rate, service cost discount rate, interest cost discount rate, rate of increase in future compensation levels and expected long-term rate of return on plan assets used to develop the components of Pension Expense for the Pension Plan for the years ended December 31, 2024, 2023 and 2022 were:
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Postretirement Benefits Other Than Pensions (Tables) - Other Postretirement Benefit Plan, Defined Benefit |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes in Fair Value of Plan Assets | Changes in Fair Value of Plans’ Assets and Changes in Accumulated Postretirement Benefit Obligation for the years ended December 31, 2024 and 2023 were:
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| Schedule of Assumptions Used | The weighted-average discount rate and rate of increase in future compensation levels used to develop the components of the Accumulated Postretirement Benefit Obligation at December 31, 2024 and 2023 were:
The weighted-average discount rate and rate of increase in future compensation levels used to develop OPEB Expense for the years ended December 31, 2024, 2023 and 2022 were:
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| Schedule of Comprehensive Other Postretirement Employee Benefit Expense | The components of Comprehensive OPEB (Income) Expense for the years ended December 31, 2024, 2023 and 2022 were:
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| Schedule of Expected Benefit Payments | The following benefit payments (net of participant contributions), which consider expected future service, as appropriate, are expected to be paid:
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Long-term Equity-based Compensation (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The assumptions used in the Black-Scholes pricing model for Tandem Awards granted during the years ended December 31, 2024, 2023 and 2022 are presented below.
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| Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | Tandem Award activity for the year ended December 31, 2024 is presented below.
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| Schedule of Options Outstanding | Information pertaining to Tandem Awards outstanding at December 31, 2024 is presented below.
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| Schedule of Share-based Compensation, Nonemployee Director Deferred Stock Unit Award Plan, Activity | Activity related to DSU awards for the year ended December 31, 2024 is presented below.
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| Time Vested Restricted Stock Units | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Share-based Compensation, Restricted Stock Units and Performance Stock Units Activity | Activity related to nonvested RSUs for the year ended December 31, 2024 is presented below.
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| Performance Based Restricted Stock Units | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Share-based Compensation, Restricted Stock Units and Performance Stock Units Activity | Activity related to nonvested PSU awards for the year ended December 31, 2024 is presented below.
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Policyholder Contract Liabilities (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Liability for Future Policy Benefits | Policyholder Obligations at December 31, 2024 and 2023 were as follows:
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| Federal Home Loan Bank, Advance, Branch of FHLBank |
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Debt (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Long-term Debt Instruments | Total amortized cost of Long-term Debt, Current and Non-Current, outstanding at December 31, 2024 and 2023 was:
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Leases (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lease, Cost | The following table presents operating lease right-of-use assets and lease liabilities.
Lease expenses are included in Insurance and Other Expenses in the Consolidated Statements of Income (Loss). Additional information regarding the Company’s operating leases for the year ended December 31, 2024 and 2023 is presented below.
1 Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets.
Supplemental cash flow information related to Kemper’s operating leases for the year-ended December 31, 2024 and December 31, 2023 respectively are presented follows.
Significant judgments and assumptions for determining lease asset and liability as December 31, 2024 and December 31, 2023 respectively are presented below.
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| Schedule of Future Minimum Lease Payments for Operating Leases | Future minimum lease payments under operating leases at December 31, 2024 are presented below.
Future minimum operating lease payments at December 31, 2024 were:
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Catastrophe Reinsurance (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reinsurance Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reinsurance Retention Policy | Coverage on individual catastrophes provided under the excess of loss reinsurance contracts effective January 1, 2024 to December 31, 2024 is provided in various layers as presented below.
Coverage on individual catastrophes provided under the excess of loss reinsurance contracts effective January 1, 2023 to December 31, 2023 is provided in various layers as presented below.
Coverage on individual catastrophes provided under the excess of loss reinsurance contracts effective January 1, 2022 to December 31, 2022 is provided in various layers as presented below.
Coverage provided under the 2022 aggregate property catastrophe reinsurance contract is summarized below.
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| Catastrophe Reinsurance Premiums | Reinsurance premiums for the Company’s catastrophe reinsurance programs and the FHCF Program reduced earned premiums for the years ended December 31, 2024, 2023 and 2022 by the following:
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| Catastrophe Losses and LAE, Net Reinsurance Recoveries | Catastrophe losses and LAE (including reserve development), net of reinsurance recoveries, for the years ended December 31, 2024, 2023 and 2022 by business segment are presented below.
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the Company’s Net Deferred Income Tax Assets and Deferred Income Tax Liabilities at December 31, 2024 and 2023 were:
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| Summary of Operating Loss Carryforwards | The expiration of federal net operating loss (“NOL”) carryforwards and their related deferred income tax assets at December 31, 2024 is presented below by year of expiration.
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| Schedule of Components of Income Tax Expense (Benefit) | The components of Income Tax Expense (Benefit) from Operations for the years ended December 31, 2024, 2023 and 2022 were:
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| Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the Statutory Federal Income Tax Expense (Benefit) and Rate to the Company’s Effective Income Tax Expense (Benefit) and Rate from Operations for the years ended December 31, 2024, 2023 and 2022 is presented below.
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| Comprehensive Income Tax Benefit and Expenses | Comprehensive Income Tax Expense (Benefit) included in the Consolidated Financial Statements for the years ended December 31, 2024, 2023 and 2022 was:
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Schedule 2 - Parent Company Financial Statements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Parent Company Balance Sheets | KEMPER CORPORATION PARENT COMPANY BALANCE SHEETS (Dollars in Millions)
See Accompanying Report of Independent Registered Public Accounting Firm.
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| Parent Company Statements of Income (Loss) | KEMPER CORPORATION PARENT COMPANY STATEMENTS OF INCOME (LOSS) (Dollars in Millions)
See Accompanying Report of Independent Registered Public Accounting Firm.
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| Parent Company Statements of Comprehensive Income | KEMPER CORPORATION PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Dollars in Millions)
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| Parent Company Statements of Cash Flows | KEMPER CORPORATION PARENT COMPANY STATEMENTS OF CASH FLOWS (Dollars in Millions)
See Accompanying Report of Independent Registered Public Accounting Firm.
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| Lease, Cost | The following table presents operating lease right-of-use assets and lease liabilities.
Lease expenses are included in Insurance and Other Expenses in the Consolidated Statements of Income (Loss). Additional information regarding the Company’s operating leases for the year ended December 31, 2024 and 2023 is presented below.
1 Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets.
Supplemental cash flow information related to Kemper’s operating leases for the year-ended December 31, 2024 and December 31, 2023 respectively are presented follows.
Significant judgments and assumptions for determining lease asset and liability as December 31, 2024 and December 31, 2023 respectively are presented below.
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| Schedule of Future Minimum Lease Payments for Operating Leases | Future minimum lease payments under operating leases at December 31, 2024 are presented below.
Future minimum operating lease payments at December 31, 2024 were:
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Summary of Accounting Policies and Accounting Changes (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Reinsurance recoverables | $ 78.7 | $ 86.5 |
| Accrued investment income | 81.9 | 88.4 |
| Receivables from limited liability investments or partnership investments | 0.3 | 0.0 |
| Finite-lived intangible assets, net | 266.1 | 268.9 |
| Value of Business Acquired | ||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Finite-lived intangible assets, net | 12.1 | 13.8 |
| Customer Relationships | ||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Finite-lived intangible assets, net | 1.5 | 1.7 |
| Agent Relationships | ||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Finite-lived intangible assets, net | 37.7 | 43.4 |
| Other Receivables | ||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Reinsurance recoverables | $ 24.3 | $ 27.8 |
Net Income (Loss) Per Unrestricted Share - Reconciliation of Numerator and Denominator in Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Earnings Per Share [Abstract] | |||
| Net Income (Loss) attributable to Kemper Corporation | $ 317.8 | $ (272.1) | $ (286.6) |
| Weighted-average Unrestricted Shares Outstanding (in shares) | 64,179,500 | 64,025,600 | 63,825,500 |
| Equity-based Compensation Equivalent Shares (in shares) | 596,500 | 0 | 0 |
| Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution (in shares) | 64,776,000 | 64,025,600 | 63,825,500 |
| Basic (in dollars per share) | $ 4.95 | $ (4.25) | $ (4.50) |
| Diluted (in dollars per share) | $ 4.91 | $ (4.25) | $ (4.50) |
Net Income (Loss) Per Unrestricted Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Stock Options | |||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
| Antidilutive securities excluded from computation of earnings per share, amount (in shares) | 1,400,000 | 3,600,000 | 2,400,000 |
Dispositions - Narrative (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - Reserve National Insurance Company $ in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2022
USD ($)
| |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
| Consideration | $ 90.0 |
| Loss on disposal net of tax | $ 1.6 |
Dispositions - Assets and Liabilities Included in Disposition (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - Reserve National Insurance Company $ in Millions |
Dec. 01, 2022
USD ($)
|
|---|---|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
| Fixed Maturities at Fair Value (Amortized Cost: $43.3) | $ 36.7 |
| Fixed maturities, amortized cost | 43.3 |
| Short-term Investments at Cost which Approximates Fair Value | 0.7 |
| Loans to Policyholders | 0.7 |
| Total Investments | 38.1 |
| Cash | 81.0 |
| Receivables from Policyholders | 2.6 |
| Other Receivables | 1.6 |
| Deferred Policy Acquisition Costs | 38.7 |
| Goodwill | 0.3 |
| Other Assets | 3.1 |
| Investment in Subsidiaries | 0.2 |
| Total Assets | 165.6 |
| Health Insurance Reserves | 48.2 |
| Unearned Premiums | 10.8 |
| Deferred Income Tax Liabilities | 1.8 |
| Accrued Expenses and Other Liabilities | 13.8 |
| Total Liabilities | $ 74.6 |
Business Segments - Narrative (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
segment
| |
| Segment Reporting [Abstract] | |
| Number of operating segments | 2 |
Business Segments - Segment Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|
| Segment Reporting Information [Line Items] | |||
| Total Assets | $ 12,630.4 | $ 12,742.7 | $ 13,313.6 |
| Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Total Assets | 11,084.6 | 11,044.0 | 11,543.3 |
| Corporate and Other | |||
| Segment Reporting Information [Line Items] | |||
| Total Assets | 774.7 | 623.7 | 545.4 |
| Non-Core Operations | |||
| Segment Reporting Information [Line Items] | |||
| Total Assets | 771.1 | 1,075.0 | 1,224.9 |
| Specialty Property & Casualty Insurance | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Total Assets | 6,352.9 | 6,145.9 | 6,535.3 |
| Specialty Property & Casualty Insurance | Operating Segments | Variable Interest Entity, Primary Beneficiary | |||
| Segment Reporting Information [Line Items] | |||
| Total Assets | 41.5 | 4.6 | |
| Life Insurance | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Total Assets | $ 4,731.7 | $ 4,898.1 | $ 5,008.0 |
Business Segments - Earned Premiums by Product Line (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | [1] | $ 4,215.9 | $ 4,529.4 | $ 5,213.4 | |
| Life Insurance | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | (7.2) | (19.1) | 13.3 | ||
| Operating Segments | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | 3,970.3 | 4,020.1 | 4,617.9 | ||
| Operating Segments | Specialty Property & Casualty Insurance | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | 3,576.4 | 3,632.5 | 4,046.4 | ||
| Operating Segments | Specialty Property & Casualty Insurance | Personal Automobile | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | 2,851.4 | 2,977.8 | 3,496.7 | ||
| Operating Segments | Specialty Property & Casualty Insurance | Commercial Automobile | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | 725.0 | 654.7 | 549.7 | ||
| Operating Segments | Life Insurance | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | 393.9 | 387.6 | 571.5 | ||
| Operating Segments | Life Insurance | Life | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | 328.1 | 319.2 | 352.8 | ||
| Operating Segments | Life Insurance | Accident and Health | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | 22.3 | 23.1 | 168.2 | ||
| Operating Segments | Life Insurance | Property | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | 43.5 | 45.3 | 50.5 | ||
| Non-Core Operations | |||||
| Entity-Wide Information, Revenue from External Customer [Line Items] | |||||
| Earned Premiums | $ 245.6 | $ 509.3 | $ 595.5 | ||
| |||||
Business Segments - Segment Revenues (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|||
| Segment Reporting Information [Line Items] | |||||
| Earned Premiums | [1] | $ 4,215.9 | $ 4,529.4 | $ 5,213.4 | |
| Net Investment Income | 407.5 | 419.7 | 422.6 | ||
| Other Income | 8.2 | 7.2 | 9.2 | ||
| Total Revenues | 4,638.6 | 4,944.2 | 5,523.9 | ||
| Change in Fair Value of Equity and Convertible Securities | (2.7) | 4.7 | (79.9) | ||
| Net Realized Investment Gains (Losses) | 13.2 | (18.6) | 4.3 | ||
| Impairment Losses | (5.8) | (1.1) | (25.8) | ||
| Change in Value of Alternative Energy Partnership Investments | 2.3 | 2.9 | (19.9) | ||
| Life Insurance | |||||
| Segment Reporting Information [Line Items] | |||||
| Earned Premiums | (7.2) | (19.1) | 13.3 | ||
| Operating Segments | |||||
| Segment Reporting Information [Line Items] | |||||
| Earned Premiums | 3,970.3 | 4,020.1 | 4,617.9 | ||
| Total Revenues | 4,337.7 | 4,388.4 | 4,965.3 | ||
| Operating Segments | Specialty Property & Casualty Insurance | |||||
| Segment Reporting Information [Line Items] | |||||
| Earned Premiums | 3,576.4 | 3,632.5 | 4,046.4 | ||
| Net Investment Income | 189.6 | 168.3 | 140.7 | ||
| Other Income | 4.7 | 4.5 | 6.0 | ||
| Total Revenues | 3,772.1 | 3,806.9 | 4,183.2 | ||
| Change in Value of Alternative Energy Partnership Investments | 1.4 | 1.6 | (9.9) | ||
| Operating Segments | Life Insurance | |||||
| Segment Reporting Information [Line Items] | |||||
| Earned Premiums | 393.9 | 387.6 | 571.5 | ||
| Net Investment Income | 170.6 | 193.4 | 216.5 | ||
| Other Income | 0.5 | (0.2) | (0.6) | ||
| Total Revenues | 565.6 | 581.5 | 782.1 | ||
| Change in Value of Alternative Energy Partnership Investments | 0.6 | 0.7 | (5.3) | ||
| Non-Core Operations | |||||
| Segment Reporting Information [Line Items] | |||||
| Earned Premiums | 245.6 | 509.3 | 595.5 | ||
| Total Revenues | 282.4 | 558.4 | 640.5 | ||
| Change in Fair Value of Equity and Convertible Securities | (2.7) | 4.7 | (79.9) | ||
| Net Realized Investment Gains (Losses) | 13.2 | (18.6) | 4.3 | ||
| Impairment Losses | (5.8) | (1.1) | (25.8) | ||
| Other | $ 13.8 | $ 12.4 | $ 19.5 | ||
| |||||
Business Segments - Segment Expenses (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Segment Reporting Information [Line Items] | |||
| Prior Years | $ 22.6 | $ (14.6) | |
| Policy Acquisition Costs | 641.6 | $ 707.6 | 838.5 |
| Business Unit Operating Costs | 277.4 | 256.1 | 282.4 |
| Corporate Overhead Costs | 194.9 | 200.0 | 207.8 |
| Insurance Expenses | 1,113.9 | 1,163.7 | 1,328.7 |
| Income Tax Expense (Benefit) | 76.0 | (74.8) | (84.4) |
| Total Expenses | 4,250.1 | 5,291.3 | 5,894.9 |
| Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Total Expenses | 3,911.2 | 4,393.7 | 5,043.9 |
| Operating Segments | Specialty Property & Casualty Insurance | |||
| Segment Reporting Information [Line Items] | |||
| Total Incurred Losses and LAE | 2,541.7 | 3,141.9 | 3,578.2 |
| Policy Acquisition Costs | 478.7 | 496.4 | 577.8 |
| Business Unit Operating Costs | 145.0 | 107.8 | 81.2 |
| Corporate Overhead Costs | 135.8 | 137.1 | 142.9 |
| Insurance Expenses | 759.5 | 741.3 | 801.9 |
| Income Tax Expense (Benefit) | 94.6 | (19.2) | (49.5) |
| Total Expenses | 3,395.8 | 3,864.0 | 4,330.6 |
| Operating Segments | Specialty Property & Casualty Insurance | Non-catastrophe Losses | |||
| Segment Reporting Information [Line Items] | |||
| Current Year | 2,514.8 | 2,974.5 | 3,569.2 |
| Prior Years | 6.3 | 135.2 | (14.6) |
| Operating Segments | Specialty Property & Casualty Insurance | Catastrophe Losses | |||
| Segment Reporting Information [Line Items] | |||
| Current Year | 19.9 | 34.5 | 23.0 |
| Prior Years | 0.7 | (2.3) | 0.6 |
| Operating Segments | Life Insurance | |||
| Segment Reporting Information [Line Items] | |||
| Policy Acquisition Costs | 133.9 | 140.0 | 165.1 |
| Business Unit Operating Costs | 96.9 | 96.7 | 137.2 |
| Corporate Overhead Costs | 41.3 | 39.1 | 41.0 |
| Policyholders’ Benefits and Incurred Losses and LAE | 234.5 | 243.4 | 360.8 |
| Insurance Expenses | 272.1 | 275.8 | 343.3 |
| Income Tax Expense (Benefit) | 8.8 | 10.5 | 9.2 |
| Total Expenses | $ 515.4 | $ 529.7 | $ 713.3 |
Business Segments - Segment Net Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Segment Reporting Information [Line Items] | |||
| Revenues | $ 4,638.6 | $ 4,944.2 | $ 5,523.9 |
| Less: Net Loss attributable to Noncontrolling Interest | (5.3) | (0.2) | 0.0 |
| Debt Extinguishment, Pension Settlement, and Other Charges | (2.9) | ||
| Goodwill Impairment Charges | 0.0 | (49.6) | 0.0 |
| Net Income (Loss) | 317.8 | (272.1) | (286.6) |
| Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenues | 4,337.7 | 4,388.4 | 4,965.3 |
| Segment Net Operating Income (Loss) | 426.5 | (5.3) | (78.6) |
| Operating Segments | Specialty Property & Casualty Insurance | |||
| Segment Reporting Information [Line Items] | |||
| Revenues | 3,772.1 | 3,806.9 | 4,183.2 |
| Expenses | (3,395.8) | (3,864.0) | (4,330.6) |
| Segment Net Operating Income (Loss) | 376.3 | (57.1) | (147.4) |
| Operating Segments | Life Insurance | |||
| Segment Reporting Information [Line Items] | |||
| Revenues | 565.6 | 581.5 | 782.1 |
| Expenses | (515.4) | (529.7) | (713.3) |
| Segment Net Operating Income (Loss) | 50.2 | 51.8 | 68.8 |
| Corporate and Other | |||
| Segment Reporting Information [Line Items] | |||
| Segment Net Operating Income (Loss) | (50.3) | (42.1) | (37.8) |
| Non-Core Operations | |||
| Segment Reporting Information [Line Items] | |||
| Revenues | 282.4 | 558.4 | 640.5 |
| Segment Net Operating Income (Loss) | (28.2) | (17.0) | (25.9) |
| Change in Fair Value of Equity and Convertible Securities | (2.1) | 3.7 | (63.1) |
| Net Realized Investment Gains (Losses) | 10.4 | (14.7) | 3.4 |
| Impairment Losses | (4.6) | (0.9) | (20.4) |
| Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs | (31.8) | (95.0) | (61.3) |
| Debt Extinguishment, Pension Settlement, and Other Charges | (7.4) | (55.5) | |
| Goodwill Impairment Charges | $ 0.0 | $ (45.5) | $ 0.0 |
Liability for Future Policyholder Benefits - Changes in Premiums, Discounts and Benefits (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
| Balance, Beginning of Year | $ 675.4 | $ 688.6 | |
| Beginning Balance at Original Discount Rate | 694.7 | 728.9 | |
| Adjusted Beginning of Period Balance | 638.4 | 654.7 | $ 661.9 |
| Ending Balance at Original Discount Rate | 681.0 | 694.7 | 728.9 |
| Balance, End of Year | 646.1 | 675.4 | 688.6 |
| Balance, Beginning of Year | 3,613.2 | 3,561.0 | |
| Beginning Balance at Original Discount Rate | 3,835.9 | 3,906.2 | |
| Adjusted Beginning of Period Balance | 3,760.4 | 3,801.7 | 3,858.3 |
| Ending Balance at Original Discount Rate | 3,812.1 | 3,835.9 | 3,906.2 |
| Balance, End of Year | 3,295.9 | 3,613.2 | 3,561.0 |
| Net Liability for Future Policyholder Benefits, After Reinsurance Recoverable | 2,649.8 | 2,937.8 | 2,872.4 |
| Term Life Insurance | |||
| Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
| Expected Future Benefit Payments, undiscounted | 10,100.0 | 10,185.2 | |
| Term Life Insurance | Effect of Retrospective Application of Accounting Standards Update 2018-12 | |||
| Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
| Balance, Beginning of Year | 675.4 | 688.6 | 669.0 |
| Beginning Balance at Original Discount Rate | 694.7 | 728.9 | 599.8 |
| Effect of Changes in Cash Flow Assumptions | (56.6) | (35.7) | 68.5 |
| Effect of Actual Variances from Expected Experience | 0.3 | (38.5) | (6.4) |
| Issuances | 105.4 | 105.2 | 133.2 |
| Interest Accrual | 31.0 | 29.7 | 21.9 |
| Net Premiums Collected | (93.8) | (94.9) | (88.1) |
| Ending Balance at Original Discount Rate | 694.7 | 728.9 | |
| Effect of Changes in Discount Rate Assumptions | (34.9) | (19.3) | (40.3) |
| Balance, End of Year | 675.4 | 688.6 | |
| Balance, Beginning of Year | 3,613.2 | 3,561.0 | 4,933.1 |
| Beginning Balance at Original Discount Rate | 3,835.9 | 3,906.2 | 3,788.1 |
| Effect of Changes in Cash Flow Assumptions | (68.5) | (59.0) | 77.2 |
| Effect of Actual Variances From Expected Experience | (7.0) | (45.5) | (7.0) |
| Issuances | 105.5 | 104.6 | 133.2 |
| Interest Accrual | 170.5 | 171.0 | 164.0 |
| Benefit Payments | (224.3) | (241.4) | (249.3) |
| Ending Balance at Original Discount Rate | 3,835.9 | 3,906.2 | |
| Effect of Changes in Discount Rate Assumptions | (516.2) | (222.7) | (345.2) |
| Balance, End of Year | 3,613.2 | 3,561.0 | |
| Expected Future Benefit Payments, undiscounted | 2,649.8 | 2,937.8 | 2,872.4 |
| Cumulative impact of flooring the future Policyholder Benefits Reserve | 0.0 | 0.0 | 0.0 |
| Net Liability for Future Policyholder Benefits, post-flooring | 2,649.8 | 2,937.8 | 2,872.4 |
| Less: Reinsurance Recoverable | $ 0.0 | $ 0.0 | $ 0.0 |
Liability for Future Policyholder Benefits - Reconciliation of the Net Liability for Future Benefits to Life and Health Insurance Reserves and Other Information (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Liabilities for Guarantees on Long-Duration Contracts [Line Items] | ||||
| Liability for Future Policy Benefit, Weighted-Average Duration | 13 years 10 months 24 days | 15 years 3 months 18 days | 14 years 7 months 6 days | |
| Net Liability for Future Policyholder Benefits, post-flooring | $ 2,649.8 | $ 2,937.8 | ||
| Deferred Profit Liability | 412.1 | 337.8 | $ 253.6 | $ 193.4 |
| Other | 137.8 | 146.8 | ||
| Total Life and Health Insurance Reserves | 3,199.7 | 3,422.4 | ||
| Term Life Insurance | ||||
| Liabilities for Guarantees on Long-Duration Contracts [Line Items] | ||||
| Expected Future Benefit Payments, undiscounted | 10,100.0 | 10,185.2 | ||
| Expected Future Gross Premiums, undiscounted | 3,976.4 | 4,107.9 | ||
| Expected Future Gross Premiums, discounted | 2,628.1 | 2,800.6 | ||
| Gross Premiums or Assessments | 399.6 | 399.0 | 392.1 | |
| Interest Expense | $ 139.5 | $ 141.3 | $ 142.1 | |
| Interest Accretion Rate | 4.55% | 4.57% | ||
| Current Discount Rate | 5.77% | 5.08% | ||
Liability for Future Policy Holder Benefits - Changes in Deferred Profit Liability (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Deferred Profit Liability [Roll Forward] | |||
| Balance, beginning of period | $ 337.8 | $ 253.6 | $ 193.4 |
| Annual assumption changes | 4.8 | 15.0 | (12.7) |
| Profits deferred | 160.7 | 163.1 | 164.7 |
| Interest accrual | 17.1 | 13.2 | 10.4 |
| Amortization | (110.7) | (111.2) | (101.6) |
| Effect of actual variances from expected experience and other changes | 2.4 | 4.1 | (0.6) |
| Balance, end of period | $ 412.1 | $ 337.8 | $ 253.6 |
Deferred Policy Acquisition Costs (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Deferred Policy Acquisition Cost, Beginning Balance | $ 591.6 | $ 635.6 | $ 688.0 |
| Capitalization | 576.4 | 563.3 | 691.5 |
| Capitalization | 652.8 | ||
| Amortization Expense | (538.0) | (607.3) | (705.2) |
| Deferred Policy Acquisition Cost | 630.0 | ||
| Deferred Policy Acquisition Cost, Ending Balance | 628.9 | 591.6 | 635.6 |
| Experience adjustment | (7.4) | (15.6) | (8.7) |
| Variable Interest Entity, Primary Beneficiary | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Deferred Policy Acquisition Cost, Beginning Balance | 0.1 | ||
| Deferred Policy Acquisition Cost, Ending Balance | 1.1 | 0.1 | |
| Disposal Group, Held-for-Sale or Disposed of by Sale, Not Discontinued Operations | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Capitalization | 38.7 | ||
| Operating Segments | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Deferred Policy Acquisition Cost, Beginning Balance | 569.6 | 597.5 | 638.8 |
| Capitalization | 563.0 | 508.4 | 570.4 |
| Amortization Expense | (506.7) | (536.3) | (611.7) |
| Deferred Policy Acquisition Cost | 625.9 | ||
| Deferred Policy Acquisition Cost, Ending Balance | 569.6 | 597.5 | |
| Operating Segments | Specialty | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Deferred Policy Acquisition Cost, Beginning Balance | 142.6 | 192.7 | 219.0 |
| Capitalization | 494.3 | 446.3 | 543.4 |
| Amortization Expense | (474.1) | (496.4) | (569.7) |
| Deferred Policy Acquisition Cost | 162.8 | ||
| Deferred Policy Acquisition Cost, Ending Balance | 142.6 | 192.7 | |
| Operating Segments | Life | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Deferred Policy Acquisition Cost, Beginning Balance | 427.0 | 404.8 | 419.8 |
| Capitalization | 68.7 | 62.1 | 27.0 |
| Amortization Expense | (32.6) | (39.9) | (42.0) |
| Deferred Policy Acquisition Cost | 463.1 | ||
| Deferred Policy Acquisition Cost, Ending Balance | 427.0 | 404.8 | |
| Non-Core Operations | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Deferred Policy Acquisition Cost, Beginning Balance | 22.0 | 38.1 | 49.2 |
| Capitalization | 13.4 | 54.9 | 82.4 |
| Amortization Expense | (31.3) | (71.0) | (93.5) |
| Deferred Policy Acquisition Cost | $ 4.1 | ||
| Deferred Policy Acquisition Cost, Ending Balance | $ 22.0 | $ 38.1 | |
Receivables from Policyholders - Allowance for Expected Credit Losses (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Premium Receivable, Allowance for Credit Loss [Roll Forward] | ||
| Balance at Beginning of Year | $ 13.9 | $ 13.1 |
| Provision for Expected Credit Losses | 39.6 | 41.6 |
| Write-offs of Uncollectible Receivables from Policyholders | (50.6) | (40.8) |
| Balance at End of Year | 2.9 | 13.9 |
| Receivable Balance at End of Year | 986.1 | 960.2 |
| Receivable Balance | 977.9 | 959.5 |
| Variable Interest Entity, Primary Beneficiary | ||
| Premium Receivable, Allowance for Credit Loss [Roll Forward] | ||
| Balance at Beginning of Year | 0.0 | |
| Balance at End of Year | 0.0 | 0.0 |
| Receivable Balance | 8.2 | 0.7 |
| Operating Segments | ||
| Premium Receivable, Allowance for Credit Loss [Roll Forward] | ||
| Balance at Beginning of Year | 12.9 | 12.3 |
| Provision for Expected Credit Losses | 39.2 | 39.8 |
| Write-offs of Uncollectible Receivables from Policyholders | (49.5) | (39.2) |
| Balance at End of Year | 2.6 | 12.9 |
| Receivable Balance at End of Year | 973.9 | 886.7 |
| Non-Core Operations | ||
| Premium Receivable, Allowance for Credit Loss [Roll Forward] | ||
| Balance at Beginning of Year | 1.0 | 0.8 |
| Provision for Expected Credit Losses | 0.4 | 1.8 |
| Write-offs of Uncollectible Receivables from Policyholders | (1.1) | (1.6) |
| Balance at End of Year | 0.3 | 1.0 |
| Receivable Balance at End of Year | 12.2 | 73.5 |
| Specialty | Operating Segments | ||
| Premium Receivable, Allowance for Credit Loss [Roll Forward] | ||
| Balance at Beginning of Year | 12.9 | 12.3 |
| Provision for Expected Credit Losses | 38.9 | 39.3 |
| Write-offs of Uncollectible Receivables from Policyholders | (49.2) | (38.7) |
| Balance at End of Year | 2.6 | 12.9 |
| Receivable Balance at End of Year | 962.8 | 875.4 |
| Life | Operating Segments | ||
| Premium Receivable, Allowance for Credit Loss [Roll Forward] | ||
| Balance at Beginning of Year | 0.0 | 0.0 |
| Provision for Expected Credit Losses | 0.3 | 0.5 |
| Write-offs of Uncollectible Receivables from Policyholders | (0.3) | (0.5) |
| Balance at End of Year | 0.0 | 0.0 |
| Receivable Balance at End of Year | $ 11.1 | $ 11.3 |
Property and Casualty Insurance Reserves - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Liability for Claims and Claims Adjustment Expense [Line Items] | ||||
| Actuary estimate period used for ultimate and LAE | 10 years | |||
| Incurred losses and LAE related to prior year (favorable) adverse development | $ 22.6 | $ (14.6) | ||
| Reinsurance recoverables | 78.7 | $ 86.5 | ||
| Non-Core Operations | ||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | ||||
| Incurred losses and LAE related to prior year (favorable) adverse development | 24.8 | |||
| Commercial Automobile | ||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | ||||
| Incurred losses and LAE related to prior year (favorable) adverse development | 7.2 | |||
| Specialty Automobile | ||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | ||||
| Incurred losses and LAE related to prior year (favorable) adverse development | 108.7 | (17.6) | ||
| Commercial Automobile | ||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | ||||
| Incurred losses and LAE related to prior year (favorable) adverse development | 24.2 | 3.6 | ||
| Property and Liability Insurance | ||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | ||||
| Incurred losses and LAE related to prior year (favorable) adverse development | 29.8 | 159.8 | (14.6) | |
| Reinsurance recoverables | $ 24.3 | $ 27.8 | $ 39.6 | $ 41.9 |
Property and Casualty Insurance Reserves - Short-duration Insurance Contracts, Claims Development (Details) $ in Millions |
Dec. 31, 2024
USD ($)
claim
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
|---|---|---|---|---|---|
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Loss and Allocated LAE Reserves, Net of Reinsurance | $ 2,399.4 | ||||
| Specialty Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 7,775.6 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | 6,364.6 | ||||
| Outstanding Loss and Allocated LAE Reserves on Accident Years before 2015, Net of Reinsurance | 38.7 | ||||
| Loss and Allocated LAE Reserves, Net of Reinsurance | 1,449.7 | ||||
| Specialty Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 3,833.7 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | 3,804.5 | ||||
| Outstanding Loss and Allocated LAE Reserves on Accident Years before 2015, Net of Reinsurance | (2.8) | ||||
| Loss and Allocated LAE Reserves, Net of Reinsurance | 26.4 | ||||
| Commercial Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 1,496.3 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | 833.6 | ||||
| Outstanding Loss and Allocated LAE Reserves on Accident Years before 2015, Net of Reinsurance | 9.7 | ||||
| Loss and Allocated LAE Reserves, Net of Reinsurance | 672.4 | ||||
| Commercial Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 328.0 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | 310.8 | ||||
| Outstanding Loss and Allocated LAE Reserves on Accident Years before 2015, Net of Reinsurance | (0.1) | ||||
| Loss and Allocated LAE Reserves, Net of Reinsurance | 17.1 | ||||
| Preferred Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 710.1 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | 555.0 | ||||
| Outstanding Loss and Allocated LAE Reserves on Accident Years before 2015, Net of Reinsurance | 4.5 | ||||
| Loss and Allocated LAE Reserves, Net of Reinsurance | 159.6 | ||||
| Preferred Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 444.6 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | 445.8 | ||||
| Outstanding Loss and Allocated LAE Reserves on Accident Years before 2015, Net of Reinsurance | 0.0 | ||||
| Loss and Allocated LAE Reserves, Net of Reinsurance | (1.2) | ||||
| Homeowners Insurance | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 657.2 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | 618.4 | ||||
| Outstanding Loss and Allocated LAE Reserves on Accident Years before 2015, Net of Reinsurance | 0.8 | ||||
| Loss and Allocated LAE Reserves, Net of Reinsurance | 39.6 | ||||
| 2020 | Specialty Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 1,417.8 | $ 1,415.9 | $ 1,407.8 | $ 1,406.4 | $ 1,401.2 |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 20.1 | ||||
| Cumulative Number of Reported Claims | claim | 476,106 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 1,381.3 | 1,350.0 | 1,287.8 | 1,107.6 | 555.2 |
| 2020 | Specialty Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 659.7 | 659.0 | 659.5 | 659.5 | 650.5 |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ (0.1) | ||||
| Cumulative Number of Reported Claims | claim | 296,478 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 659.4 | 658.8 | 659.7 | 663.8 | 585.5 |
| 2020 | Commercial Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 159.7 | 155.6 | 154.0 | 152.0 | 140.5 |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 4.1 | ||||
| Cumulative Number of Reported Claims | claim | 19,662 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 144.5 | 129.7 | 111.7 | 87.6 | 37.0 |
| 2020 | Commercial Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 32.3 | 32.1 | 32.1 | 32.2 | 31.9 |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 0.1 | ||||
| Cumulative Number of Reported Claims | claim | 11,041 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 32.1 | 32.0 | 32.0 | 31.9 | 26.2 |
| 2020 | Preferred Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 158.4 | 158.8 | 151.8 | 153.6 | 148.9 |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 1.3 | ||||
| Cumulative Number of Reported Claims | claim | 24,701 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 149.8 | 141.4 | 117.7 | 92.8 | 44.4 |
| 2020 | Preferred Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 97.5 | 97.5 | 97.9 | 98.0 | 96.1 |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 0.0 | ||||
| Cumulative Number of Reported Claims | claim | 47,591 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 97.5 | 97.5 | 97.6 | 98.4 | 90.9 |
| 2020 | Homeowners Insurance | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 141.8 | 141.2 | 144.6 | 149.8 | 157.0 |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 0.2 | ||||
| Cumulative Number of Reported Claims | claim | 14,102 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 140.8 | 139.8 | 137.4 | 130.8 | $ 94.6 |
| 2021 | Specialty Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 1,861.0 | 1,844.2 | 1,824.7 | 1,856.9 | |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 52.8 | ||||
| Cumulative Number of Reported Claims | claim | 586,566 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 1,767.5 | 1,680.8 | 1,429.4 | 657.1 | |
| 2021 | Specialty Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 967.4 | 967.2 | 967.5 | 958.0 | |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ (0.1) | ||||
| Cumulative Number of Reported Claims | claim | 361,993 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 967.2 | 968.3 | 977.5 | 890.1 | |
| 2021 | Commercial Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 250.4 | 240.4 | 228.6 | 225.6 | |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 13.9 | ||||
| Cumulative Number of Reported Claims | claim | 27,486 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 208.3 | 168.6 | 128.0 | 50.8 | |
| 2021 | Commercial Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 51.8 | 51.6 | 51.9 | 52.4 | |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 0.3 | ||||
| Cumulative Number of Reported Claims | claim | 17,703 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 51.5 | 51.4 | 51.9 | 43.3 | |
| 2021 | Preferred Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 182.0 | 180.6 | 179.8 | 176.9 | |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 3.7 | ||||
| Cumulative Number of Reported Claims | claim | 27,243 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 161.9 | 144.1 | 106.1 | 50.3 | |
| 2021 | Preferred Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 117.1 | 117.1 | 117.9 | 118.5 | |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 0.0 | ||||
| Cumulative Number of Reported Claims | claim | 53,490 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 117.1 | 117.2 | 118.1 | 113.1 | |
| 2021 | Homeowners Insurance | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 144.3 | 143.9 | 149.8 | 149.9 | |
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 0.5 | ||||
| Cumulative Number of Reported Claims | claim | 13,555 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 141.3 | 139.7 | 132.6 | $ 100.6 | |
| 2022 | Specialty Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 1,880.7 | 1,848.7 | 1,765.9 | ||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 98.0 | ||||
| Cumulative Number of Reported Claims | claim | 475,177 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 1,700.4 | 1,463.3 | 738.2 | ||
| 2022 | Specialty Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 990.0 | 989.5 | 993.5 | ||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ (1.7) | ||||
| Cumulative Number of Reported Claims | claim | 309,091 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 990.5 | 997.8 | 921.9 | ||
| 2022 | Commercial Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 317.9 | 309.1 | 305.1 | ||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 34.8 | ||||
| Cumulative Number of Reported Claims | claim | 32,476 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 222.1 | 159.0 | 72.2 | ||
| 2022 | Commercial Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 74.8 | 74.7 | 74.5 | ||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 0.5 | ||||
| Cumulative Number of Reported Claims | claim | 21,567 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 74.2 | 74.6 | 66.8 | ||
| 2022 | Preferred Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 173.5 | 172.4 | 165.0 | ||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 8.6 | ||||
| Cumulative Number of Reported Claims | claim | 24,246 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 139.1 | 111.0 | 55.0 | ||
| 2022 | Preferred Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 113.6 | 113.5 | 110.9 | ||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ (0.2) | ||||
| Cumulative Number of Reported Claims | claim | 48,160 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 113.7 | 114.6 | 108.7 | ||
| 2022 | Homeowners Insurance | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 155.2 | 152.7 | 142.7 | ||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 1.1 | ||||
| Cumulative Number of Reported Claims | claim | 11,526 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 149.3 | 141.2 | $ 97.0 | ||
| 2023 | Specialty Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 1,391.7 | 1,448.7 | |||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 150.5 | ||||
| Cumulative Number of Reported Claims | claim | 304,878 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 1,092.8 | 580.4 | |||
| 2023 | Specialty Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 715.8 | 722.6 | |||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ (5.9) | ||||
| Cumulative Number of Reported Claims | claim | 206,366 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 720.7 | 699.2 | |||
| 2023 | Commercial Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 361.7 | 379.9 | |||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 87.1 | ||||
| Cumulative Number of Reported Claims | claim | 35,327 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 189.6 | 87.5 | |||
| 2023 | Commercial Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 87.5 | 90.0 | |||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 0.2 | ||||
| Cumulative Number of Reported Claims | claim | 20,202 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 86.9 | 80.6 | |||
| 2023 | Preferred Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 137.5 | 135.0 | |||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 17.6 | ||||
| Cumulative Number of Reported Claims | claim | 16,796 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 84.6 | 43.7 | |||
| 2023 | Preferred Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 84.7 | 86.6 | |||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ (0.7) | ||||
| Cumulative Number of Reported Claims | claim | 33,951 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 85.4 | 84.8 | |||
| 2023 | Homeowners Insurance | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 135.3 | 126.6 | |||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 1.6 | ||||
| Cumulative Number of Reported Claims | claim | 9,919 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 127.8 | $ 84.7 | |||
| 2024 | Specialty Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 1,224.4 | ||||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 506.0 | ||||
| Cumulative Number of Reported Claims | claim | 216,146 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 422.6 | ||||
| 2024 | Specialty Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 500.8 | ||||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 7.1 | ||||
| Cumulative Number of Reported Claims | claim | 136,921 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 466.7 | ||||
| 2024 | Commercial Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 406.6 | ||||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 249.0 | ||||
| Cumulative Number of Reported Claims | claim | 29,666 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 69.1 | ||||
| 2024 | Commercial Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 81.6 | ||||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 7.7 | ||||
| Cumulative Number of Reported Claims | claim | 16,312 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 66.1 | ||||
| 2024 | Preferred Personal Automobile Insurance—Liability | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 58.7 | ||||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 19.8 | ||||
| Cumulative Number of Reported Claims | claim | 6,666 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 19.6 | ||||
| 2024 | Preferred Personal Automobile Insurance—Physical Damage | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 31.7 | ||||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ (1.2) | ||||
| Cumulative Number of Reported Claims | claim | 12,556 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 32.1 | ||||
| 2024 | Homeowners Insurance | |||||
| Claims Development [Line Items] | |||||
| Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31, | 80.6 | ||||
| Total of IBNR Liabilities Plus Expected Development on Reported Claims | $ 7.2 | ||||
| Cumulative Number of Reported Claims | claim | 4,153 | ||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |||||
| Cumulative Paid Losses and Allocated LAE, Net | $ 59.2 |
Property and Casualty Insurance Reserves - Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability (Details) $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | $ 2,399.4 |
| Reinsurance Recoverables on Unpaid Losses and Allocated LAE | 24.3 |
| Unallocated LAE | 197.6 |
| Specialty Personal Automobile Insurance—Liability | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | 1,449.7 |
| Reinsurance Recoverables on Unpaid Losses and Allocated LAE | 5.7 |
| Specialty Personal Automobile Insurance—Liability | Variable Interest Entity, Primary Beneficiary | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | 8.8 |
| Specialty Personal Automobile Insurance—Physical Damage | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | 26.4 |
| Specialty Personal Automobile Insurance—Physical Damage | Variable Interest Entity, Primary Beneficiary | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | 0.6 |
| Commercial Automobile Insurance—Liability | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | 672.4 |
| Commercial Automobile Insurance—Physical Damage | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | 17.1 |
| Preferred Personal Automobile Insurance—Liability | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | 159.6 |
| Reinsurance Recoverables on Unpaid Losses and Allocated LAE | 16.9 |
| Preferred Personal Automobile Insurance—Physical Damage | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | (1.2) |
| Homeowners Insurance | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | 39.6 |
| Reinsurance Recoverables on Unpaid Losses and Allocated LAE | 0.0 |
| Other | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Net of Reinsurance | 35.8 |
| Reinsurance Recoverables on Unpaid Losses and Allocated LAE | 1.7 |
| Property and Casualty Insurance Product Line | |
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | |
| Property and Casualty Insurance Reserves, Gross of Reinsurance | $ 2,621.3 |
Property and Casualty Insurance Reserves - Historical Claims Duration (Details) |
Dec. 31, 2024 |
|---|---|
| Specialty Personal Automobile Insurance—Liability | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Year 1 | 38.00% |
| Year 2 | 77.80% |
| Year 3 | 90.50% |
| Year 4 | 95.10% |
| Year 5 | 97.40% |
| Specialty Personal Automobile Insurance—Physical Damage | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Year 1 | 93.00% |
| Year 2 | 100.00% |
| Year 3 | 100.00% |
| Year 4 | 100.00% |
| Year 5 | 100.00% |
| Commercial Automobile Insurance—Liability | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Year 1 | 21.50% |
| Year 2 | 52.10% |
| Year 3 | 69.10% |
| Year 4 | 82.20% |
| Year 5 | 90.50% |
| Commercial Automobile Insurance—Physical Damage | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Year 1 | 85.40% |
| Year 2 | 100.00% |
| Year 3 | 100.00% |
| Year 4 | 100.00% |
| Year 5 | 100.00% |
| Preferred Personal Automobile Insurance—Liability | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Year 1 | 30.50% |
| Year 2 | 60.60% |
| Year 3 | 77.90% |
| Year 4 | 89.10% |
| Year 5 | 94.60% |
| Preferred Personal Automobile Insurance—Physical Damage | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Year 1 | 97.40% |
| Year 2 | 100.00% |
| Year 3 | 100.00% |
| Year 4 | 100.00% |
| Year 5 | 100.00% |
| Homeowners [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Year 1 | 67.00% |
| Year 2 | 92.40% |
| Year 3 | 96.60% |
| Year 4 | 98.30% |
| Year 5 | 99.30% |
Property and Casualty Insurance Reserves - Reserve Activity (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] | |||
| Gross of Reinsurance at Beginning of Year | $ 6,102.9 | ||
| Less: Reinsurance Recoverables at Beginning of Year | 86.5 | ||
| Incurred Losses and LAE related to: | |||
| Prior Years | 22.6 | $ (14.6) | |
| Paid Losses and LAE related to: | |||
| Plus: Reinsurance Recoverables at End of Year | 78.7 | $ 86.5 | |
| Property and Casualty Insurance Reserves, Gross of Reinsurance at End of Year | 5,811.6 | 6,102.9 | |
| Property and Liability Insurance | |||
| Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] | |||
| Gross of Reinsurance at Beginning of Year | 2,680.5 | 2,756.9 | 2,772.7 |
| Less: Reinsurance Recoverables at Beginning of Year | 27.8 | 39.6 | 41.9 |
| Property and Casualty Insurance Reserves, Net of Reinsurance at Beginning of Year | 2,652.7 | 2,717.3 | 2,730.8 |
| Incurred Losses and LAE related to: | |||
| Current Year | 2,745.9 | 3,429.9 | 4,103.3 |
| Prior Years | 29.8 | 159.8 | (14.6) |
| Total Incurred Losses and LAE | 2,775.7 | 3,589.7 | 4,088.7 |
| Paid Losses and LAE related to: | |||
| Paid Losses and LAE Related to Current Year | 1,383.0 | 1,965.3 | 2,460.5 |
| Paid Losses and LAE Related to Prior Years | 1,457.8 | 1,689.0 | 1,641.7 |
| Total Paid Losses and LAE | 2,840.8 | 3,654.3 | 4,102.2 |
| Property and Casualty Insurance Reserves, Net of Reinsurance at End of Year | 2,587.6 | 2,652.7 | 2,717.3 |
| Plus: Reinsurance Recoverables at End of Year | 24.3 | 27.8 | 39.6 |
| Property and Casualty Insurance Reserves, Gross of Reinsurance at End of Year | $ 2,611.9 | $ 2,680.5 | $ 2,756.9 |
Insurance and Other Expenses (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Insurance and Other Expenses [Abstract] | |||
| Commissions | $ 596.3 | $ 584.2 | $ 724.8 |
| Taxes, Licenses and Fees | 83.7 | 79.6 | 99.5 |
| Policy Acquisition Costs: | |||
| Deferred | (576.4) | (563.3) | (691.5) |
| Amortized | 538.0 | 607.1 | 705.7 |
| Net Policy Acquisition Costs (Deferred) Amortized | (38.4) | 43.8 | 14.2 |
| Policy Acquisition Costs | 641.6 | 707.6 | 838.5 |
| Business Unit Operating Costs | 277.4 | 256.1 | 282.4 |
| Corporate Overhead Costs | 194.9 | 200.0 | 207.8 |
| Insurance Expenses | 1,113.9 | 1,163.7 | 1,328.7 |
| Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs | 40.3 | 120.3 | 62.9 |
| Pension Settlement | (2.6) | 70.2 | 0.0 |
| Other Corporate Costs | 28.5 | 11.4 | 12.3 |
| Other Expenses | 66.2 | 201.9 | 75.2 |
| Insurance and Other Expenses | $ 1,180.1 | $ 1,365.6 | $ 1,403.9 |
Investments - Amortized Cost and Estimated Fair Value of investments (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Debt Securities, Available-for-sale [Line Items] | ||
| Amortized cost of fixed maturities | $ 7,295.0 | $ 7,565.8 |
| Gross Unrealized Gains | 14.8 | 54.6 |
| Gross Unrealized Losses | (889.5) | (730.3) |
| Allowance for credit loss, available for sale | 10.7 | 8.2 |
| Fair Value | 6,409.6 | 6,881.9 |
| United States Government and Government Agencies and Authorities | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Amortized cost of fixed maturities | 588.6 | 594.1 |
| Gross Unrealized Gains | 0.6 | 1.9 |
| Gross Unrealized Losses | (102.4) | (84.5) |
| Allowance for credit loss, available for sale | 0.0 | 0.0 |
| Fair Value | 486.8 | 511.5 |
| States and Political Subdivisions | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Amortized cost of fixed maturities | 1,457.3 | 1,575.9 |
| Gross Unrealized Gains | 1.6 | 16.3 |
| Gross Unrealized Losses | (225.4) | (189.8) |
| Allowance for credit loss, available for sale | 0.3 | 0.5 |
| Fair Value | 1,233.2 | 1,401.9 |
| Foreign Governments | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Amortized cost of fixed maturities | 6.5 | 4.4 |
| Gross Unrealized Gains | 0.3 | 0.0 |
| Gross Unrealized Losses | (0.2) | (0.6) |
| Allowance for credit loss, available for sale | 0.0 | 0.0 |
| Fair Value | 6.6 | 3.8 |
| Bonds and Notes | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Amortized cost of fixed maturities | 4,038.3 | 4,046.8 |
| Gross Unrealized Gains | 8.9 | 35.5 |
| Gross Unrealized Losses | (518.8) | (383.8) |
| Allowance for credit loss, available for sale | 8.8 | 7.7 |
| Fair Value | 3,519.6 | 3,690.8 |
| Redeemable Preferred Stocks | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Amortized cost of fixed maturities | 9.8 | 9.0 |
| Gross Unrealized Gains | 0.1 | 0.1 |
| Gross Unrealized Losses | (1.0) | (0.8) |
| Allowance for credit loss, available for sale | 0.0 | 0.0 |
| Fair Value | 8.9 | 8.3 |
| Collateralized Loan Obligations | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Amortized cost of fixed maturities | 747.8 | 973.6 |
| Gross Unrealized Gains | 2.5 | 0.7 |
| Gross Unrealized Losses | (7.2) | (24.5) |
| Allowance for credit loss, available for sale | 1.6 | 0.0 |
| Fair Value | 741.5 | 949.8 |
| Other Mortgage- and Asset-backed | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Amortized cost of fixed maturities | 446.7 | 362.0 |
| Gross Unrealized Gains | 0.8 | 0.1 |
| Gross Unrealized Losses | (34.5) | (46.3) |
| Allowance for credit loss, available for sale | 0.0 | 0.0 |
| Fair Value | $ 413.0 | $ 315.8 |
Investments - Narrative (Details) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
|
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Other receivables | $ 185.7 | $ 200.5 | |
| Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date | $ 1,537.3 | ||
| Debt Securities, Available-for-Sale, Unrealized Loss Amount, Average, Percentage | 0.049 | ||
| Financing Receivable, Accrued Interest, before Allowance for Credit Loss | $ 70.9 | 77.0 | |
| Equity Securities, FV-NI, Current | 218.5 | 225.8 | |
| Equity securities, FV-NI, unrealized gain (loss) | (5.1) | 3.0 | |
| Convertible Securities at Fair Value | 280.7 | 281.2 | |
| Debt and equity securities, gain (loss), excluding other-than-temporary impairment loss | 3.2 | 8.0 | |
| Outstanding commitments to fund equity method limited liability investments | $ 91.3 | ||
| Equity method investments, reported without a reporting lag | 0.031 | ||
| Equity method investments, reported with a one-moth reporting lag | 0.041 | ||
| Equity Securities at Modified Cost | $ 539.2 | 513.5 | |
| Other Asset Impairment Charges | (5.8) | (1.1) | $ (25.8) |
| Other Investments and Securities, at Cost | 22.5 | 32.6 | |
| Alternative Energy Partnership Investments | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Equity Method Investments | 17.6 | 17.3 | |
| Equity Method Limited Liability Investments | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Equity Method Investments | 186.3 | 221.7 | |
| Dividends on Equity Securities Excluding Alternative Investments | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Other Asset Impairment Charges | (0.4) | (0.5) | 0.0 |
| Other than Temporary Impairment Losses, Investments | $ 0.0 | ||
| Investments in Fixed Maturities | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Other receivables | 1.8 | 0.9 | |
| Other liabilities | 11.6 | 0.0 | |
| Debt securities, available-for-sale, unrealized loss position, accumulated loss | 889.5 | 730.3 | |
| Government National Mortgage Association Certificates and Obligations (GNMA) | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date | 207.0 | ||
| Federal National Mortgage Association Certificates and Obligations (FNMA) | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date | 99.5 | ||
| Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date | 76.3 | ||
| Other Non-Governmental Issuers | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date | 1,154.5 | ||
| Foreign Governments | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Debt securities, available-for-sale, unrealized loss position, accumulated loss | 0.2 | 0.6 | |
| Bonds and Notes | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Debt securities, available-for-sale, unrealized loss position, accumulated loss | 518.8 | 383.8 | |
| Equity Method Limited Liability Investments at Cost Plus Cumulative Undistributed Earnings | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Other receivables | 0.0 | 0.0 | |
| Other liabilities | 0.0 | 0.0 | |
| Dividends on Equity Securities Excluding Alternative Investments | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Other receivables | 0.3 | 0.1 | |
| Other liabilities | 0.0 | 0.0 | |
| Investment-grade | Investments in Fixed Maturities | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Debt securities, available-for-sale, unrealized loss position, accumulated loss | 875.3 | 704.8 | |
| Non-investment-grade | Investments in Fixed Maturities | |||
| Debt and Equity Securities, FV-NI [Line Items] | |||
| Debt securities, available-for-sale, unrealized loss position, accumulated loss | $ 14.2 | $ 25.5 | |
| Percentage of unrealized loss position to amortized cost basis of available for sale security average | 8.80% | ||
Investments - Schedule of Contractual Maturity (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Amortized Cost | ||
| Due in One Year or Less | $ 337.0 | |
| Due after One Year to Five Years | 773.5 | |
| Due after Five Years to Ten Years | 1,021.6 | |
| Due after Ten Years | 3,496.9 | |
| Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date | 1,666.0 | |
| Amortized Cost | 7,295.0 | $ 7,565.8 |
| Fair Value | ||
| Due in One Year or Less | 332.3 | |
| Due after One Year to Five Years | 746.3 | |
| Due after Five Years to Ten Years | 890.0 | |
| Due after Ten Years | 2,903.7 | |
| Mortgage- and Asset-backed Securities Not Due at a Single Maturity Date | 1,537.3 | |
| Investments in Fixed Maturities | $ 6,409.6 | $ 6,881.9 |
Investments - Aging of Unrealized Losses on Investments in Fixed Maturities (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Unrealized Losses | ||
| 12 Months or Longer | $ (0.8) | |
| United States Government and Government Agencies and Authorities | ||
| Fair Value | ||
| Less Than 12 Months | $ 41.7 | 52.0 |
| 12 Months or Longer | 383.6 | 401.6 |
| Total | 425.3 | 453.6 |
| Unrealized Losses | ||
| Less Than 12 Months | (0.5) | (0.8) |
| 12 Months or Longer | (101.9) | (83.7) |
| Total | (102.4) | (84.5) |
| States and Political Subdivisions | ||
| Fair Value | ||
| Less Than 12 Months | 242.7 | 112.9 |
| 12 Months or Longer | 933.4 | 928.3 |
| Total | 1,176.1 | 1,041.2 |
| Unrealized Losses | ||
| Less Than 12 Months | (10.3) | (2.3) |
| 12 Months or Longer | (215.1) | (187.5) |
| Total | (225.4) | (189.8) |
| Foreign Governments | ||
| Fair Value | ||
| Less Than 12 Months | 0.0 | 0.0 |
| 12 Months or Longer | 1.4 | 1.9 |
| Total | 1.4 | 1.9 |
| Unrealized Losses | ||
| Less Than 12 Months | 0.0 | 0.0 |
| 12 Months or Longer | (0.2) | (0.6) |
| Total | (0.2) | (0.6) |
| Bonds and Notes | ||
| Fair Value | ||
| Less Than 12 Months | 674.3 | 198.4 |
| 12 Months or Longer | 2,605.7 | 2,813.0 |
| Total | 3,280.0 | 3,011.4 |
| Unrealized Losses | ||
| Less Than 12 Months | (40.9) | (5.5) |
| 12 Months or Longer | (477.9) | (378.3) |
| Total | (518.8) | (383.8) |
| Redeemable Preferred Stocks | ||
| Fair Value | ||
| Less Than 12 Months | 2.0 | 0.0 |
| 12 Months or Longer | 6.6 | 7.9 |
| Total | 8.6 | 7.9 |
| Unrealized Losses | ||
| Less Than 12 Months | 0.0 | 0.0 |
| 12 Months or Longer | (1.0) | |
| Total | (1.0) | (0.8) |
| Collateralized Loan Obligations | ||
| Fair Value | ||
| Less Than 12 Months | 34.2 | 38.8 |
| 12 Months or Longer | 89.5 | 747.7 |
| Total | 123.7 | 786.5 |
| Unrealized Losses | ||
| Less Than 12 Months | (0.1) | (0.4) |
| 12 Months or Longer | (7.1) | (24.1) |
| Total | (7.2) | (24.5) |
| Other Mortgage- and Asset-backed | ||
| Fair Value | ||
| Less Than 12 Months | 12.0 | 15.7 |
| 12 Months or Longer | 261.7 | 287.3 |
| Total | 273.7 | 303.0 |
| Unrealized Losses | ||
| Less Than 12 Months | (0.1) | (0.1) |
| 12 Months or Longer | (34.4) | (46.2) |
| Total | (34.5) | (46.3) |
| Investments in Fixed Maturities | ||
| Fair Value | ||
| Less Than 12 Months | 1,006.9 | 417.8 |
| 12 Months or Longer | 4,281.9 | 5,187.7 |
| Total | 5,288.8 | 5,605.5 |
| Unrealized Losses | ||
| Less Than 12 Months | (51.9) | (9.1) |
| 12 Months or Longer | (837.6) | (721.2) |
| Total | $ (889.5) | $ (730.3) |
Investments - Change in Allowance for Credit Losses on Fixed Maturities Available-for-Sale (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward] | ||
| Balance, Beginning of Year | $ 8.2 | $ 9.6 |
| Additions for Securities for which No Previous Expected Credit Losses were Recognized | 3.4 | 2.9 |
| Reductions due to Sales | (0.8) | (2.6) |
| Net (Decrease) Increase in Allowance on Securities for which Expected Credit Losses were Previously Recognized | (0.1) | (0.9) |
| Write-offs Charged Against Allowance | (0.8) | |
| Balance, End of Year | 10.7 | 8.2 |
| States and Political Subdivisions | ||
| Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward] | ||
| Balance, Beginning of Year | 0.5 | 0.7 |
| Additions for Securities for which No Previous Expected Credit Losses were Recognized | 0.0 | 0.0 |
| Reductions due to Sales | 0.0 | 0.0 |
| Net (Decrease) Increase in Allowance on Securities for which Expected Credit Losses were Previously Recognized | 0.2 | (0.2) |
| Write-offs Charged Against Allowance | (0.4) | |
| Balance, End of Year | 0.3 | 0.5 |
| Bonds and Notes | ||
| Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward] | ||
| Balance, Beginning of Year | 7.7 | 8.9 |
| Additions for Securities for which No Previous Expected Credit Losses were Recognized | 3.4 | 2.9 |
| Reductions due to Sales | (0.8) | (2.6) |
| Net (Decrease) Increase in Allowance on Securities for which Expected Credit Losses were Previously Recognized | 0.1 | (1.1) |
| Write-offs Charged Against Allowance | (0.4) | |
| Balance, End of Year | $ 10.4 | $ 7.7 |
Investments - Other Investments Carrying Values (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Investments, Debt and Equity Securities [Abstract] | ||
| Equity Securities at Modified Cost | $ 22.5 | $ 32.6 |
| Real Estate at Depreciated Cost | 99.5 | 94.7 |
| Mortgage Loans | 75.3 | 99.8 |
| Other | 2.2 | 14.8 |
| Total Investments | $ 199.5 | $ 241.9 |
Income from Investments - Net Investment Income (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Net Investment Income [Line Items] | |||
| Investment income | $ 434,200,000 | $ 447,100,000 | $ 450,600,000 |
| Investment expenses | 26,700,000 | 27,400,000 | 28,000,000.0 |
| Net investment income | 407,500,000 | 419,700,000 | 422,600,000 |
| Interest on Fixed Income Securities | |||
| Net Investment Income [Line Items] | |||
| Investment income | 315,300,000 | 323,300,000 | 290,000,000.0 |
| Dividends on Equity Securities Excluding Alternative Investments | |||
| Net Investment Income [Line Items] | |||
| Investment income | 5,400,000 | 4,400,000 | 6,300,000 |
| Total Alternative Investments | |||
| Net Investment Income [Line Items] | |||
| Investment income | 6,300,000 | 29,500,000 | 73,400,000 |
| Equity Method Limited Liability Investments | |||
| Net Investment Income [Line Items] | |||
| Investment income | 10,500,000 | 31,300,000 | |
| Investment expenses | 18,200,000 | ||
| Limited Liability Investments Included in Equity Securities | |||
| Net Investment Income [Line Items] | |||
| Investment income | 24,500,000 | 19,000,000.0 | 42,100,000 |
| Short-term Investments | |||
| Net Investment Income [Line Items] | |||
| Investment income | 33,500,000 | 18,000,000.0 | 3,700,000 |
| Loans to Policyholders | |||
| Net Investment Income [Line Items] | |||
| Investment income | 21,000,000.0 | 20,900,000 | 21,500,000 |
| Real Estate | |||
| Net Investment Income [Line Items] | |||
| Investment income | 8,800,000 | 8,900,000 | 10,100,000 |
| Investment expenses | 8,700,000 | 8,800,000 | 7,900,000 |
| Other | |||
| Net Investment Income [Line Items] | |||
| Investment income | 8,200,000 | 12,900,000 | 7,700,000 |
| Investment expenses | 18,000,000.0 | 18,600,000 | 20,100,000 |
| Cash Surrender Value | |||
| Net Investment Income [Line Items] | |||
| Investment income | 35,700,000 | 29,200,000 | 37,900,000 |
| Universal Life-type Policyholder Account Balances | |||
| Net Investment Income [Line Items] | |||
| Interest Expense, Other Short-Term Borrowings | $ 20,300,000 | $ 22,700,000 | $ 10,100,000 |
Income from Investments - Narrative (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Investment Income, Net [Abstract] | ||
| Accrued investment income | $ 81.9 | $ 88.4 |
Income from Investments - Net Realized Gains on Sales of Investments (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Equity Securities: | |||
| Realized Investment Gains | $ 28.6 | $ 6.7 | $ 41.3 |
| Realized Investment Losses | (7.5) | (13.4) | (38.7) |
| Net Realized Investment Gains (Losses) | 13.2 | (18.6) | 4.3 |
| Fixed Maturities: | |||
| Fixed Maturities: | |||
| Gains on Sales | 20.2 | 5.9 | 31.6 |
| Losses on Sales | (3.2) | (10.9) | (31.9) |
| Equity Securities | |||
| Equity Securities: | |||
| Gains on Sales | 4.2 | 0.6 | 9.7 |
| Losses on Sales | (0.1) | (2.5) | (6.8) |
| Derivative | |||
| Equity Securities: | |||
| (Losses) Gains on Hedging Activity | (7.9) | (11.9) | 1.7 |
| Other Long-Term Investments | |||
| Equity Securities: | |||
| Realized Investment Gains | 4.2 | 0.2 | 0.0 |
| Realized Investment Losses | $ (4.2) | $ 0.0 | $ 0.0 |
Income from Investments - Net Impairment Losses Recognized in Earnings (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Net Investment Income [Line Items] | |||
| Impairment Losses | $ (5.8) | $ (1.1) | $ (25.8) |
| Available for sale, debt securities, other than temporary impairment loss | 3.3 | 2.0 | 23.8 |
| Fixed Maturities: | |||
| Net Investment Income [Line Items] | |||
| Impairment Losses | (4.8) | (0.1) | (25.8) |
| Equity Securities | |||
| Net Investment Income [Line Items] | |||
| Impairment Losses | (0.4) | (0.5) | 0.0 |
| Real Estate | |||
| Net Investment Income [Line Items] | |||
| Impairment Losses | (0.4) | 0.0 | 0.0 |
| Other Long-Term Investments | |||
| Net Investment Income [Line Items] | |||
| Impairment Losses | $ (0.2) | $ (0.5) | $ 0.0 |
Derivatives - Gross Notional Amount and Estimated Fair Value of Derivatives (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Interest Swap Lock | Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Gross Notional Amount | $ 75.0 | $ 0.0 |
| Estimated fair value, assets | 0.0 | 0.0 |
| Estimated fair value, liabilities | (3.7) | 0.0 |
| Treasury Futures | Not Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Gross Notional Amount | 0.0 | 149.7 |
| Estimated fair value, assets | 0.0 | 14.7 |
| Estimated fair value, liabilities | $ 0.0 | $ 0.0 |
Derivatives - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Derivative [Line Items] | ||
| Beginning of Year | $ 0.0 | $ (0.4) |
| Gains (Losses) Deferred in AOCI | (4.4) | 0.0 |
| Net Change in AOCI with Current Period Hedging Transaction | (3.7) | 0.0 |
| Gains (Losses) Reclassified into Income | 1.8 | 0.4 |
| Net Comprehensive Gains (Losses) from Cash Flow Hedges | (6.3) | 0.0 |
| Amortization | 0.6 | |
| Treasury Lock, 2016 | ||
| Derivative [Line Items] | ||
| Amortization | (4.5) | |
| Derivative Instruments, Amortization | (1.5) | $ (0.5) |
| Derivatives, Gain (Loss), Reclassified to Earnings, Net of Tax | (0.1) | |
| Treasury Lock, 2022 | ||
| Derivative [Line Items] | ||
| Amortization | 5.9 | |
| Derivative Instruments, Amortization | 0.6 | |
| Derivatives, Gain (Loss), Reclassified to Earnings, Net of Tax | $ 4.2 | |
Fair Value Measurements - Valuation of Assets Measured at Fair Value (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | $ 6,409.6 | $ 6,881.9 |
| Equity Securities, FV-NI, Current | 218.5 | 225.8 |
| Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total | 6,628.1 | 7,122.4 |
| Liabilities, Fair Value Disclosure | (3.7) | |
| Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total | 98.1 | 107.3 |
| Liabilities, Fair Value Disclosure | 0.0 | |
| Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total | 6,137.4 | 6,631.4 |
| Liabilities, Fair Value Disclosure | (3.7) | |
| Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total | 209.0 | 192.3 |
| Liabilities, Fair Value Disclosure | 0.0 | |
| Investments in Fixed Maturities | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 6,409.6 | 6,881.9 |
| Investments in Fixed Maturities | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 86.8 | 98.8 |
| Investments in Fixed Maturities | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 6,117.6 | 6,593.6 |
| Investments in Fixed Maturities | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 205.2 | 189.5 |
| United States Government and Government Agencies and Authorities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 486.8 | 511.5 |
| United States Government and Government Agencies and Authorities | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 486.8 | 511.5 |
| United States Government and Government Agencies and Authorities | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 86.8 | 98.8 |
| United States Government and Government Agencies and Authorities | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 400.0 | 412.7 |
| United States Government and Government Agencies and Authorities | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| States and Political Subdivisions | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 1,233.2 | 1,401.9 |
| States and Political Subdivisions | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 1,233.2 | 1,401.9 |
| States and Political Subdivisions | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| States and Political Subdivisions | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 1,231.4 | 1,401.8 |
| States and Political Subdivisions | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 1.8 | 0.1 |
| Foreign Governments | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 6.6 | 3.8 |
| Foreign Governments | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 6.6 | 3.8 |
| Foreign Governments | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Foreign Governments | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 6.6 | 3.8 |
| Foreign Governments | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Bonds and Notes | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 3,519.6 | 3,690.8 |
| Bonds and Notes | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 3,519.6 | 3,690.8 |
| Bonds and Notes | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Bonds and Notes | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 3,325.4 | 3,513.7 |
| Bonds and Notes | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 194.2 | 177.1 |
| Redeemable Preferred Stocks | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 8.9 | 8.3 |
| Redeemable Preferred Stocks | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 8.9 | 8.3 |
| Redeemable Preferred Stocks | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Redeemable Preferred Stocks | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 4.7 | 1.2 |
| Redeemable Preferred Stocks | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 4.2 | 7.1 |
| Collateralized Loan Obligations | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 741.5 | 949.8 |
| Collateralized Loan Obligations | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 741.5 | 949.8 |
| Collateralized Loan Obligations | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Collateralized Loan Obligations | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 741.5 | 949.8 |
| Collateralized Loan Obligations | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Other Mortgage- and Asset-backed | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 413.0 | 315.8 |
| Other Mortgage- and Asset-backed | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 413.0 | 315.8 |
| Other Mortgage- and Asset-backed | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Other Mortgage- and Asset-backed | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 408.0 | 310.6 |
| Other Mortgage- and Asset-backed | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 5.0 | 5.2 |
| Dividends on Equity Securities Excluding Alternative Investments | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 218.5 | 225.8 |
| Dividends on Equity Securities Excluding Alternative Investments | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 11.3 | 8.5 |
| Dividends on Equity Securities Excluding Alternative Investments | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 19.8 | 23.1 |
| Dividends on Equity Securities Excluding Alternative Investments | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 3.8 | 2.8 |
| Preferred Stocks | Finance, Insurance and Real Estate | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 13.1 | 15.6 |
| Preferred Stocks | Finance, Insurance and Real Estate | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Preferred Stocks | Finance, Insurance and Real Estate | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 13.1 | 15.6 |
| Preferred Stocks | Finance, Insurance and Real Estate | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Preferred Stocks | Other Industries | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 9.5 | 9.9 |
| Preferred Stocks | Other Industries | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Preferred Stocks | Other Industries | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 6.7 | 7.5 |
| Preferred Stocks | Other Industries | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 2.8 | 2.4 |
| Common Stock | Finance, Insurance and Real Estate | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.3 | 0.6 |
| Common Stock | Finance, Insurance and Real Estate | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.3 | 0.6 |
| Common Stock | Finance, Insurance and Real Estate | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Common Stock | Finance, Insurance and Real Estate | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Common Stock | Other Industries | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 1.1 | 0.6 |
| Common Stock | Other Industries | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.1 | 0.2 |
| Common Stock | Other Industries | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Common Stock | Other Industries | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 1.0 | 0.4 |
| Exchange Traded Funds | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 10.9 | 7.7 |
| Exchange Traded Funds | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 10.9 | 7.7 |
| Exchange Traded Funds | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Exchange Traded Funds | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Limited Liability Companies and Limited Partnerships | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 183.6 | 191.4 |
| Limited Liability Companies and Limited Partnerships | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Limited Liability Companies and Limited Partnerships | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | |
| Limited Liability Companies and Limited Partnerships | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | |
| Designated as Hedging Instrument | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Instruments Classified as Cash Flow Hedge | 14.7 | |
| Designated as Hedging Instrument | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Instruments Designated as Cash Flow Hedges | (3.7) | |
| Designated as Hedging Instrument | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Instruments Classified as Cash Flow Hedge | 0.0 | |
| Derivative Instruments Designated as Cash Flow Hedges | 0.0 | |
| Designated as Hedging Instrument | Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Instruments Classified as Cash Flow Hedge | 14.7 | |
| Derivative Instruments Designated as Cash Flow Hedges | (3.7) | |
| Designated as Hedging Instrument | Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Instruments Classified as Cash Flow Hedge | 0.0 | |
| Derivative Instruments Designated as Cash Flow Hedges | 0.0 | |
| Fair Value, Inputs, Net Asset Value | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total | 183.6 | 191.4 |
| Liabilities, Fair Value Disclosure | 0.0 | |
| Fair Value, Inputs, Net Asset Value | Investments in Fixed Maturities | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | United States Government and Government Agencies and Authorities | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | States and Political Subdivisions | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Foreign Governments | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Bonds and Notes | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Redeemable Preferred Stocks | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Collateralized Loan Obligations | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Other Mortgage- and Asset-backed | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Dividends on Equity Securities Excluding Alternative Investments | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 183.6 | 191.4 |
| Fair Value, Inputs, Net Asset Value | Preferred Stocks | Finance, Insurance and Real Estate | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Preferred Stocks | Other Industries | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Common Stock | Finance, Insurance and Real Estate | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Common Stock | Other Industries | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Exchange Traded Funds | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 0.0 | 0.0 |
| Fair Value, Inputs, Net Asset Value | Limited Liability Companies and Limited Partnerships | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity Securities, FV-NI, Current | 183.6 | 191.4 |
| Fair Value, Inputs, Net Asset Value | Designated as Hedging Instrument | Fair Value, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Instruments Classified as Cash Flow Hedge | $ 0.0 | |
| Derivative Instruments Designated as Cash Flow Hedges | $ 0.0 |
Fair Value Measurements - Quantitative Information about Significant Unobservable Inputs (Details) - Valuation, Market Approach - Significant Unobservable Inputs (Level 3) $ in Millions |
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|---|---|---|
| Other | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Total Fair Value | $ 66.9 | $ 64.4 |
| Total Level 3 Fixed Maturity Investments | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Total Fair Value | 205.2 | 189.5 |
| Investment-grade | Investment-grade | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Total Fair Value | 59.9 | 60.0 |
| Non-investment-grade | Senior Debt | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Total Fair Value | 42.7 | 32.6 |
| Non-investment-grade | Junior Debt | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Total Fair Value | $ 35.7 | $ 32.5 |
| Measurement Input, Discount Rate | Investment-grade | Investment-grade | Minimum | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Alternative investment, measurement input | 0.034 | 0.042 |
| Measurement Input, Discount Rate | Investment-grade | Investment-grade | Maximum | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Alternative investment, measurement input | 0.116 | 0.158 |
| Measurement Input, Discount Rate | Investment-grade | Investment-grade | Weighted-average Yield | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Alternative investment, measurement input | 0.079 | 0.087 |
| Senior Debt | Measurement Input, Discount Rate | Non-investment-grade | Minimum | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Debt instrument, measurement input | 0.070 | 0.092 |
| Senior Debt | Measurement Input, Discount Rate | Non-investment-grade | Maximum | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Debt instrument, measurement input | 0.241 | 0.367 |
| Senior Debt | Measurement Input, Discount Rate | Non-investment-grade | Weighted-average Yield | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Debt instrument, measurement input | 0.100 | 0.135 |
| Junior Debt | Measurement Input, Discount Rate | Non-investment-grade | Minimum | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Debt instrument, measurement input | 0.095 | 0.118 |
| Junior Debt | Measurement Input, Discount Rate | Non-investment-grade | Maximum | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Debt instrument, measurement input | 0.310 | 0.225 |
| Junior Debt | Measurement Input, Discount Rate | Non-investment-grade | Weighted-average Yield | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Debt instrument, measurement input | 0.132 | 0.138 |
Fair Value Measurements - Level 3 Inputs Reconciliation (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance, Beginning of Year | $ 192.3 | $ 230.0 |
| Total Gains (Losses): | ||
| Included in Consolidated Statements of Income (Loss) | $ 2.8 | (1.5) |
| Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Net Realized Investment Gains (Losses) | |
| Included in Other Comprehensive Income | $ 0.2 | 6.8 |
| Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] | Changes in Unrealized (Losses) Gains on Investment Securities with: | |
| Purchases | $ 133.4 | 51.6 |
| Sales | (105.7) | (102.6) |
| Transfers into Level 3 | 10.6 | 8.1 |
| Transfers out of Level 3 | (24.6) | (0.1) |
| Balance, End of Year | 209.0 | 192.3 |
| Bonds and Notes | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance, Beginning of Year | 177.1 | 216.0 |
| Total Gains (Losses): | ||
| Included in Consolidated Statements of Income (Loss) | 0.6 | (0.7) |
| Included in Other Comprehensive Income | 0.8 | 6.4 |
| Purchases | 124.2 | 50.4 |
| Sales | (104.0) | (102.6) |
| Transfers into Level 3 | 7.1 | 7.7 |
| Transfers out of Level 3 | (11.6) | (0.1) |
| Balance, End of Year | 194.2 | 177.1 |
| States and Political Subdivisions | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance, Beginning of Year | 0.1 | 0.0 |
| Total Gains (Losses): | ||
| Included in Consolidated Statements of Income (Loss) | 0.0 | 0.0 |
| Included in Other Comprehensive Income | (0.5) | 0.0 |
| Purchases | 0.0 | 0.1 |
| Sales | 0.0 | 0.0 |
| Transfers into Level 3 | 3.5 | 0.0 |
| Transfers out of Level 3 | (1.3) | 0.0 |
| Balance, End of Year | 1.8 | 0.1 |
| Redeemable Preferred Stocks | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance, Beginning of Year | 7.1 | 6.8 |
| Total Gains (Losses): | ||
| Included in Consolidated Statements of Income (Loss) | 0.0 | 0.0 |
| Included in Other Comprehensive Income | 0.1 | 0.3 |
| Purchases | 1.9 | 0.0 |
| Sales | 0.0 | 0.0 |
| Transfers into Level 3 | 0.0 | 0.0 |
| Transfers out of Level 3 | (4.9) | 0.0 |
| Balance, End of Year | 4.2 | 7.1 |
| Collateralized Loan Obligations | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance, Beginning of Year | 0.0 | |
| Total Gains (Losses): | ||
| Included in Consolidated Statements of Income (Loss) | 0.0 | |
| Included in Other Comprehensive Income | 0.0 | |
| Purchases | 6.8 | |
| Sales | 0.0 | |
| Transfers into Level 3 | 0.0 | |
| Transfers out of Level 3 | (6.8) | |
| Balance, End of Year | 0.0 | 0.0 |
| Other Mortgage- and Asset-backed | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance, Beginning of Year | 5.2 | 5.1 |
| Total Gains (Losses): | ||
| Included in Consolidated Statements of Income (Loss) | 0.0 | 0.0 |
| Included in Other Comprehensive Income | (0.2) | 0.1 |
| Purchases | 0.0 | 0.0 |
| Sales | 0.0 | 0.0 |
| Transfers into Level 3 | 0.0 | 0.0 |
| Transfers out of Level 3 | 0.0 | 0.0 |
| Balance, End of Year | 5.0 | 5.2 |
| Equity Securities | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance, Beginning of Year | 2.8 | 2.1 |
| Total Gains (Losses): | ||
| Included in Consolidated Statements of Income (Loss) | 2.2 | (0.8) |
| Included in Other Comprehensive Income | 0.0 | 0.0 |
| Purchases | 0.5 | 1.1 |
| Sales | (1.7) | 0.0 |
| Transfers into Level 3 | 0.0 | 0.4 |
| Transfers out of Level 3 | 0.0 | 0.0 |
| Balance, End of Year | $ 3.8 | $ 2.8 |
Fair Value Measurements - Fair Value using NAV and Unfunded Commitment by Asset Class (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | $ 91.3 | $ 85.3 |
| Unfunded commitments, other equity interests at fair value | 130.6 | 110.4 |
| Fair value using NAV, equity securities at modified cost | 22.5 | 32.6 |
| Unfunded commitments, equity securities at modified cost | 0.0 | 0.0 |
| Unfunded commitments, investments in limited liability companies and limited partnerships | 221.9 | 195.7 |
| Mezzanine Debt | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | 40.8 | 43.1 |
| Unfunded commitments, other equity interests at fair value | 67.0 | 67.0 |
| Real Estate | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | 0.0 | 0.0 |
| Senior Debt | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | 48.2 | 39.9 |
| Unfunded commitments, other equity interests at fair value | 8.4 | 10.6 |
| Leveraged Buyout | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | 0.6 | 0.6 |
| Unfunded commitments, other equity interests at fair value | 30.4 | 10.0 |
| Secondary Transactions | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | 1.6 | 1.7 |
| Unfunded commitments, other equity interests at fair value | 1.6 | 3.1 |
| Distressed Debt | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | 0.0 | 0.0 |
| Unfunded commitments, other equity interests at fair value | 15.0 | 13.0 |
| Hedge Fund | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | 0.0 | 0.0 |
| Unfunded commitments, other equity interests at fair value | 0.0 | 0.0 |
| Growth Equity | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | 0.0 | 0.0 |
| Unfunded commitments, other equity interests at fair value | 8.0 | 6.5 |
| Other | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Unfunded commitments, equity method limited liability investments | 0.1 | 0.0 |
| Unfunded commitments, other equity interests at fair value | 0.2 | 0.2 |
| Fair Value Measured at Net Asset Value Per Share | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 186.3 | 221.7 |
| Fair value using NAV, other equity interests at fair value | 183.6 | 191.4 |
| Fair value using NAV, equity securities at modified cost | 1.8 | 4.8 |
| Total | 371.7 | 417.9 |
| Fair Value Measured at Net Asset Value Per Share | Mezzanine Debt | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 116.7 | 125.4 |
| Fair value using NAV, other equity interests at fair value | 116.9 | 124.0 |
| Fair Value Measured at Net Asset Value Per Share | Real Estate | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 27.3 | 41.9 |
| Fair Value Measured at Net Asset Value Per Share | Senior Debt | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 19.1 | 19.0 |
| Fair value using NAV, other equity interests at fair value | 26.3 | 24.8 |
| Fair Value Measured at Net Asset Value Per Share | Leveraged Buyout | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 7.5 | 8.6 |
| Fair value using NAV, other equity interests at fair value | 19.2 | 19.0 |
| Fair Value Measured at Net Asset Value Per Share | Secondary Transactions | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 5.5 | 7.9 |
| Fair value using NAV, other equity interests at fair value | 2.4 | 2.8 |
| Fair Value Measured at Net Asset Value Per Share | Distressed Debt | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 4.4 | 7.9 |
| Fair value using NAV, other equity interests at fair value | 11.7 | 12.4 |
| Fair Value Measured at Net Asset Value Per Share | Hedge Fund | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 0.1 | 0.1 |
| Fair value using NAV, other equity interests at fair value | 0.0 | 1.9 |
| Fair Value Measured at Net Asset Value Per Share | Growth Equity | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 0.0 | 1.2 |
| Fair value using NAV, other equity interests at fair value | 7.0 | 6.4 |
| Fair Value Measured at Net Asset Value Per Share | Other | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair value using NAV, equity method limited liability investments | 5.7 | 9.7 |
| Fair value using NAV, other equity interests at fair value | $ 0.1 | $ 0.1 |
Fair Value Measurements - Balance Sheet Grouping (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Carrying Value | ||
| Loans to Policyholders | $ 280.7 | $ 281.2 |
| Mortgage Loans | 75.3 | 99.8 |
| Other Investments and Securities, at Cost | 22.5 | 32.6 |
| Long-term Debt | 1,391.6 | 1,389.2 |
| Long-term Debt | 941.7 | 1,389.2 |
| Policyholder Obligations | 637.7 | 655.7 |
| Equity Securities at Modified Cost | 539.2 | 513.5 |
| Fair Value | ||
| Other Short-term Investments, Fair Value Disclosure | 1,037.1 | 520.9 |
| Equity Securities, FV-NI | 22.5 | 32.6 |
| Long-term Debt | 1,278.4 | 1,213.4 |
| FHLB of Chicago | ||
| Fair Value | ||
| Policyholder Obligations | 541.3 | 557.4 |
| Loans to Policyholders | ||
| Fair Value | ||
| Loans | 280.7 | 281.2 |
| Mortgage Loans | ||
| Fair Value | ||
| Loans | 75.3 | 99.8 |
| United Insurance | FHLB of Chicago | ||
| Carrying Value | ||
| Policyholder Obligations | $ 541.3 | $ 557.4 |
Goodwill and Intangible Assets - Schedule of Goodwill by Segment (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Goodwill [Line Items] | ||
| Goodwill | $ 1,250.7 | $ 1,250.7 |
| Specialty Property & Casualty Insurance | ||
| Goodwill [Line Items] | ||
| Goodwill | 1,043.0 | 1,043.0 |
| Life Insurance | ||
| Goodwill [Line Items] | ||
| Goodwill | $ 207.7 | $ 207.7 |
Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 01, 2022 |
Dec. 31, 2023 |
|
| Goodwill [Line Items] | ||
| Total impairment loss | $ 49.6 | |
| Goodwill, Impairment Loss, Net of Tax | $ (45.5) | |
| Goodwill derecognized | $ 0.3 | |
| Disposal Group, Disposed of by Sale, Not Discontinued Operations | Reserve National Insurance Company | ||
| Goodwill [Line Items] | ||
| Total impairment loss | $ 11.4 |
Goodwill and Intangible Assets - Schedule of Definite and Indefinite Life Intangible Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Finite-Lived Intangible Assets [Line Items] | ||
| Finite-Lived Intangible Assets, Gross | $ 758.0 | $ 750.9 |
| Indefinite-lived Intangible Assets (Excluding Goodwill) | 49.4 | 49.4 |
| Intangible Assets, Gross (Excluding Goodwill), Total | 807.4 | 800.3 |
| Finite-Lived Intangible Assets, Accumulated Amortization | 491.9 | 482.0 |
| Finite-Lived Intangible Assets, Net | 266.1 | 268.9 |
| Intangible Assets, Net (Including Goodwill) | 315.5 | 318.3 |
| Trade Names | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Indefinite-lived Intangible Assets (Excluding Goodwill) | 5.2 | 5.2 |
| Insurance Licenses | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Indefinite-lived Intangible Assets (Excluding Goodwill) | 44.2 | 44.2 |
| Value of Business Acquired | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Finite-Lived Intangible Assets, Gross | 237.5 | 237.5 |
| Finite-Lived Intangible Assets, Accumulated Amortization | 225.4 | 223.7 |
| Finite-Lived Intangible Assets, Net | 12.1 | 13.8 |
| Customer Relationships | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Finite-Lived Intangible Assets, Gross | 43.8 | 43.8 |
| Finite-Lived Intangible Assets, Accumulated Amortization | 42.3 | 42.1 |
| Finite-Lived Intangible Assets, Net | 1.5 | 1.7 |
| Agent Relationships | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Finite-Lived Intangible Assets, Gross | 81.6 | 81.6 |
| Finite-Lived Intangible Assets, Accumulated Amortization | 43.9 | 38.2 |
| Finite-Lived Intangible Assets, Net | 37.7 | 43.4 |
| Trade Names | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Finite-Lived Intangible Assets, Gross | 0.0 | 0.0 |
| Finite-Lived Intangible Assets, Accumulated Amortization | 0.0 | 0.0 |
| Finite-Lived Intangible Assets, Net | 0.0 | 0.0 |
| Internal Use Software | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Finite-Lived Intangible Assets, Gross | 395.1 | 388.0 |
| Finite-Lived Intangible Assets, Accumulated Amortization | 180.3 | 178.0 |
| Finite-Lived Intangible Assets, Net | $ 214.8 | $ 210.0 |
Goodwill and Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of definite lived intangible assets | $ 46.3 | $ 48.6 | $ 53.7 |
| Operating Segments | |||
| Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of definite lived intangible assets | 22.6 | 21.3 | 25.4 |
| Operating Segments | Specialty Property & Casualty Insurance | |||
| Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of definite lived intangible assets | 16.6 | 17.9 | 21.6 |
| Operating Segments | Life Insurance | |||
| Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of definite lived intangible assets | 6.0 | 3.4 | 3.8 |
| Corporate and Other | |||
| Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of definite lived intangible assets | 21.8 | 26.1 | 26.7 |
| Non-Core Operations | |||
| Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of definite lived intangible assets | $ 1.9 | $ 1.2 | $ 1.6 |
Goodwill and Intangible Assets - Schedule of Future Amortization Expense (Details) $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| Finite-Lived Intangible Assets [Line Items] | |
| Definite-life intangible assets, amortization expense, year one | $ 46.1 |
| Definite-life intangible assets, amortization expense, year two | 41.4 |
| Definite-life intangible assets, amortization expense, year three | 32.0 |
| Definite-life intangible assets, amortization expense, year four | 28.6 |
| Definite-life intangible assets, amortization expense, year five | 21.1 |
| Agent Relationships | |
| Finite-Lived Intangible Assets [Line Items] | |
| Definite-life intangible assets, amortization expense, year one | 8.6 |
| Definite-life intangible assets, amortization expense, year two | 8.6 |
| Definite-life intangible assets, amortization expense, year three | 4.9 |
| Definite-life intangible assets, amortization expense, year four | 4.9 |
| Definite-life intangible assets, amortization expense, year five | 4.9 |
| Customer Relationships | |
| Finite-Lived Intangible Assets [Line Items] | |
| Definite-life intangible assets, amortization expense, year one | 0.4 |
| Definite-life intangible assets, amortization expense, year two | 0.4 |
| Definite-life intangible assets, amortization expense, year three | 0.3 |
| Definite-life intangible assets, amortization expense, year four | 0.2 |
| Definite-life intangible assets, amortization expense, year five | 0.2 |
| Internal Use Software | |
| Finite-Lived Intangible Assets [Line Items] | |
| Definite-life intangible assets, amortization expense, year one | 35.5 |
| Definite-life intangible assets, amortization expense, year two | 30.9 |
| Definite-life intangible assets, amortization expense, year three | 25.3 |
| Definite-life intangible assets, amortization expense, year four | 22.1 |
| Definite-life intangible assets, amortization expense, year five | 14.7 |
| Life Insurance | |
| Finite-Lived Intangible Assets [Line Items] | |
| VOBA, amortization expense, year one | 1.6 |
| VOBA, amortization expense, year two | 1.5 |
| VOBA, amortization expense, year three | 1.5 |
| VOBA, amortization expense, year four | 1.4 |
| VOBA, amortization expense, year five | $ 1.3 |
Variable Interest Entities - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Variable Interest Entity [Line Items] | ||
| Surplus Notes and Guarantee Fund Certificates, Reciprocal Exchange | $ 22.0 | $ 4.0 |
| Surplus Notes and Guarantee Fund Certificates, Additional Reciprocal Exchange | 18.0 | |
| Variable Interest Entity, Not Primary Beneficiary | ||
| Variable Interest Entity [Line Items] | ||
| Maximum Loss Exposure | $ 17.6 | $ 17.3 |
Variable Interest Entities - Activity of Alternative Energy Partnership Investments (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Variable Interest Entity [Line Items] | |||
| Income Tax Expense (Benefit) Recognized from Alternative Energy Partnership | $ 76.0 | $ (74.8) | $ (84.4) |
| Variable Interest Entity, Not Primary Beneficiary | |||
| Variable Interest Entity [Line Items] | |||
| Cash distribution from Investment | 2.0 | 2.0 | 3.3 |
| Income (Loss) on Investments in Alternative Energy Partnership | 2.3 | 2.9 | (19.9) |
| Income Tax Credits Recognized | 0.0 | 0.2 | 4.3 |
| Income Tax Expense (Benefit) Recognized from Alternative Energy Partnership | $ 0.5 | $ 0.7 | $ (3.7) |
Variable Interest Entities - Assets and Liabilities and Associated Maximum Loss Exposure of Alternative Energy Partnership Investments (Details) - USD ($) |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Variable Interest Entity [Line Items] | ||
| Other Assets | $ 436,100,000 | $ 492,600,000 |
| Variable Interest Entity, Not Primary Beneficiary | ||
| Variable Interest Entity [Line Items] | ||
| Cash | 2,700,000 | 2,700,000 |
| Equipment, Net of Depreciation | 253,200,000 | 256,200,000 |
| Other Assets | 9,200,000 | 7,500,000 |
| Total Unconsolidated Assets | 265,000,000.0 | 266,400,000 |
| Maximum Loss Exposure | $ 17,600,000 | $ 17,300,000 |
Other Comprehensive (Loss) Income And Accumulated Other Comprehensive Income - Other Comprehensive (Loss) Income (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Stockholders' Equity Attributable to Parent | $ 2,788.4 | $ 2,505.2 | $ (849.7) | |
| Net Unrealized Losses on Fixed Maturities | ||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Stockholders' Equity Attributable to Parent | (687.8) | (530.9) | $ (719.4) | 505.8 |
| OCI, before Reclassifications, Net of Tax, Attributable to Parent | (165.8) | 185.0 | (1,215.1) | |
| Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | 8.9 | 3.5 | (10.1) | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (156.9) | 188.5 | (1,225.2) | |
| Net Unrealized Losses on Investments with an Allowance for Credit Losses | ||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Stockholders' Equity Attributable to Parent | (3.2) | (2.5) | (2.2) | (3.7) |
| OCI, before Reclassifications, Net of Tax, Attributable to Parent | (0.3) | (0.3) | 2.0 | |
| Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | (0.4) | 0.0 | (0.5) | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (0.7) | (0.3) | 1.5 | |
| Net Unrecognized Postretirement Benefit Income (Costs) | ||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Stockholders' Equity Attributable to Parent | 8.4 | 9.5 | (37.2) | 52.1 |
| OCI, before Reclassifications, Net of Tax, Attributable to Parent | 1.4 | (6.0) | 15.2 | |
| Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | (2.5) | 52.7 | (0.3) | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (1.1) | 46.7 | 14.9 | |
| (Loss) Gain on Cash Flow Hedges | ||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Stockholders' Equity Attributable to Parent | (2.2) | 2.5 | 2.8 | (1.9) |
| OCI, before Reclassifications, Net of Tax, Attributable to Parent | (5.4) | 0.0 | 4.7 | |
| Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | 0.7 | (0.3) | 0.0 | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (4.7) | (0.3) | 4.7 | |
| Change in Discount Rate on Future Life Policyholder Benefits | ||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Stockholders' Equity Attributable to Parent | 380.3 | 160.6 | 241.1 | |
| OCI, before Reclassifications, Net of Tax, Attributable to Parent | 219.7 | (80.5) | 1,090.8 | |
| Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | 0.0 | 0.0 | ||
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 219.7 | (80.5) | 1,090.8 | |
| Accumulated Other Comprehensive Loss | ||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Stockholders' Equity Attributable to Parent | (304.5) | (360.8) | (514.9) | $ (401.6) |
| OCI, before Reclassifications, Net of Tax, Attributable to Parent | 49.6 | 98.2 | (102.4) | |
| Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | 6.7 | 55.9 | (10.9) | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | $ 56.3 | $ 154.1 | $ (113.3) | |
Other Comprehensive (Loss) Income And Accumulated Other Comprehensive Income - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Net Unrealized Losses on Fixed Maturities | |||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Reclassification from AOCI, Current Period, Tax | $ (2.3) | $ (0.9) | $ 2.7 |
| Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | 41.8 | (50.3) | 325.9 |
| Net Unrealized Losses on Investments with an Allowance for Credit Losses | |||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Reclassification from AOCI, Current Period, Tax | 0.3 | 0.0 | 0.1 |
| Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | 0.6 | 0.2 | (0.4) |
| Net Unrecognized Postretirement Benefit Income (Costs) | |||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Reclassification from AOCI, Current Period, Tax | 0.6 | (13.8) | 0.1 |
| Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | 0.2 | (12.5) | (4.0) |
| (Loss) Gain on Cash Flow Hedges | |||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Reclassification from AOCI, Current Period, Tax | (0.2) | (0.1) | 0.0 |
| Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | 0.7 | (0.1) | (1.2) |
| Change in Discount Rate on Future Life Policyholder Benefits | |||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Reclassification from AOCI, Current Period, Tax | 0.0 | 0.0 | 0.0 |
| Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | (58.3) | 21.2 | (289.9) |
| Accumulated Other Comprehensive Loss | |||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Reclassification from AOCI, Current Period, Tax | (1.6) | (14.8) | 2.9 |
| Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | $ (15.0) | $ (41.5) | $ 30.4 |
Shareholders' Equity (Details) - USD ($) |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
May 06, 2020 |
Aug. 06, 2014 |
|
| Schedule of Capitalization, Equity [Line Items] | |||||
| Preferred stock, shares authorized (in shares) | 20,000,000 | ||||
| Preferred stock, par value (in dollars per share) | $ 0.10 | ||||
| Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 | |||
| Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 | |||
| Preferred stock, shares issued (in shares) | 0 | ||||
| Preferred stock, shares outstanding (in shares) | 0 | ||||
| Common stock, shares outstanding (in shares) | 63,840,442 | 64,111,555 | |||
| Stock Repurchase Program, Additional Authorized Amount | $ 200,000,000.0 | ||||
| Share Repurchase Program, Remaining Authorized, Amount | $ 132,800,000 | $ 333,300,000 | $ 133,300,000 | ||
| Stock repurchased and retired during period (in shares) | 637,000 | ||||
| Repurchases of Common Stock (Note 18) | $ 38,900,000 | ||||
| Share-based compensation expense | 29,200,000 | $ 29,000,000.0 | 17,700,000 | ||
| Dividends | (80,100,000) | (80,100,000) | (80,400,000) | ||
| Dividends paid | 80,100,000 | 80,100,000 | 79,700,000 | ||
| Amount available for dividend payment | $ 600,000,000 | $ 500,000,000 | $ 800,000,000 | ||
| Employee Stock | Employee Stock Purchase Plan | |||||
| Schedule of Capitalization, Equity [Line Items] | |||||
| Shares issued under employee stock purchase plan (in shares) | 61,000 | 89,000 | 102,000 | ||
| Price per share (in dollars per share) | $ 52.72 | $ 40.79 | $ 40.83 | ||
| Share-based compensation expense | $ 600,000 | $ 600,000 | $ 700,000 | ||
| Common Stock | |||||
| Schedule of Capitalization, Equity [Line Items] | |||||
| Average cost per share (in dollars per share) | $ 61.12 | ||||
Statutory Information and Dividend Limitations - Combined Net Income and Capital and Surplus (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Statutory Accounting Practices [Line Items] | |||
| Statutory net income | $ 383.9 | $ (146.4) | $ (16.3) |
| Statutory capital and surplus | 2,083.4 | 1,813.4 | |
| Subsidiaries | Life and Health Companies | |||
| Statutory Accounting Practices [Line Items] | |||
| Statutory net income | (56.8) | 4.0 | 210.4 |
| Statutory capital and surplus | 322.2 | 225.6 | |
| Subsidiaries | Domestic | Property and Casualty Companies | |||
| Statutory Accounting Practices [Line Items] | |||
| Statutory net income | 440.7 | (150.4) | (226.7) |
| Statutory capital and surplus | 1,761.2 | 1,587.8 | |
| Subsidiaries | Domestic | Life and Health Companies | |||
| Statutory Accounting Practices [Line Items] | |||
| Statutory net income | 17.1 | (136.0) | 174.4 |
| Statutory capital and surplus | 124.3 | 113.7 | |
| Subsidiaries | Foreign | Life and Health Companies | |||
| Statutory Accounting Practices [Line Items] | |||
| Statutory net income | (73.9) | 140.0 | $ 36.0 |
| Statutory capital and surplus | $ 197.9 | $ 111.9 | |
Statutory Information and Dividend Limitations - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Jul. 01, 2022 |
|
| Statutory Accounting Practices [Line Items] | ||||
| Guarantor obligations | $ 40.0 | |||
| Cash Dividends from Subsidiaries | 213.3 | $ 640.9 | $ 311.7 | |
| Dividend payments without regulatory approval | 211.7 | |||
| Kemper Bermuda Ltd | ||||
| Statutory Accounting Practices [Line Items] | ||||
| Guarantor obligations | $ 300.0 | |||
| Subsidiaries | ||||
| Statutory Accounting Practices [Line Items] | ||||
| Amount of restricted net assets for consolidated and unconsolidated subsidiaries | 3,200.0 | 3,500.0 | ||
| Subsidiaries | Life and Health Companies | ||||
| Statutory Accounting Practices [Line Items] | ||||
| Statutory capital and surplus required | 31.6 | 36.4 | ||
| Subsidiaries | Property and Casualty Companies | ||||
| Statutory Accounting Practices [Line Items] | ||||
| Statutory capital and surplus required | $ 574.9 | $ 574.3 | ||
Pension Benefits - Narrative (Details) - USD ($) |
3 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|
Dec. 31, 2024 |
Jun. 30, 2024 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Sep. 30, 2024 |
|
| Defined Benefit Plan Disclosure [Line Items] | ||||||
| Defined contribution plan, cost | $ 24,300,000 | $ 27,500,000 | $ 30,600,000 | |||
| Pension Plans | ||||||
| Defined Benefit Plan Disclosure [Line Items] | ||||||
| Settlement of asset retirement obligations | 70,200,000 | |||||
| Settlement of asset retirement obligations | 55,500,000 | |||||
| Assets for plan benefits | $ 0 | 0 | 16,300,000 | $ 17,800,000 | ||
| Settlement adjustment | $ 2,700,000 | |||||
| Reversion of assets | 4,700,000 | |||||
| Corporate use | 13,100,000 | 13,100,000 | ||||
| Reversion of assets, expenses | 7,300,000 | |||||
| Excise tax | 2,600,000 | 2,600,000 | ||||
| Unfunded liability | 0 | 0 | (16,300,000) | |||
| Pension expense | (2,600,000) | 71,100,000 | 3,800,000 | |||
| Unrecognized pension gain (loss) arising during the year | 0 | 0 | 12,000,000.0 | |||
| Supplemental Employee Retirement Plan | ||||||
| Defined Benefit Plan Disclosure [Line Items] | ||||||
| Unfunded liability | $ 20,100,000 | 20,100,000 | 21,800,000 | |||
| Pension expense | 1,000,000.0 | 1,000,000.0 | 800,000 | |||
| Unrecognized pension gain (loss) arising during the year | $ 800,000 | $ (700,000) | $ 4,800,000 | |||
Pension Benefits - Changes in Fair Value of Plan Assets and Changes in Accumulated Benefit Obligations (Details) - Pension Plans - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
| Fair Value of Plans’ Assets at Beginning of Year | $ 16.3 | $ 315.8 | |
| Actual Return on Plan Assets | (1.1) | 7.1 | |
| Benefits Paid | 0.0 | (100.9) | |
| Settlement Benefits | 2.6 | (205.7) | |
| Assets contributed to 401(k) Plan | (4.7) | 0.0 | |
| Assets reverted to the Company | (13.1) | 0.0 | |
| Fair Value of Plan Assets at End of Year | 0.0 | 16.3 | $ 315.8 |
| Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
| Accumulated Postretirement Benefit Obligation at Beginning of Year | 0.0 | 292.2 | |
| Interest Cost | 0.0 | 8.4 | 8.7 |
| Benefits Paid | 0.0 | (100.9) | |
| Settlement Benefits | 0.0 | (205.7) | |
| Actuarial Gains | 0.0 | 6.0 | |
| Projected Benefit Obligation at End of Year | 0.0 | 0.0 | $ 292.2 |
| Funded Status—Plan Assets in Excess of Projected Benefit Obligation | 0.0 | 16.3 | |
| Unamortized Amount Reported in AOCI at End of Year | 0.0 | 0.0 | |
| Accumulated Benefit Obligation at End of Year | $ 0.0 | $ 0.0 | |
Pension Benefits - Weighted Average Asset Allocation for Pension Plans (Details) - Pension Plans |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | ||
| Weighted-average asset allocations | 0.00% | 100.00% |
| Cash and Short-term Investments | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Weighted-average asset allocations | 0.00% | 100.00% |
Pension Benefits - Fair Value Plan Assets Measurements (Details) - Pension Plans - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | $ 0.0 | $ 16.3 | $ 315.8 |
| Quoted Prices in Active Markets for Identical Assets (Level 1) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 16.2 | ||
| Significant Other Observable Inputs (Level 2) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.0 | ||
| Significant Unobservable Inputs (Level 3) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.0 | ||
| Limited Liability Companies and Limited Partnerships | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.1 | ||
| Limited Liability Companies and Limited Partnerships | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.0 | ||
| Limited Liability Companies and Limited Partnerships | Significant Other Observable Inputs (Level 2) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.0 | ||
| Limited Liability Companies and Limited Partnerships | Significant Unobservable Inputs (Level 3) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.0 | ||
| Short-term Investments | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 16.2 | ||
| Short-term Investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 16.2 | ||
| Short-term Investments | Significant Other Observable Inputs (Level 2) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.0 | ||
| Short-term Investments | Significant Unobservable Inputs (Level 3) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.0 | ||
| Fair Value, Inputs, Net Asset Value | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.1 | ||
| Fair Value, Inputs, Net Asset Value | Limited Liability Companies and Limited Partnerships | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | 0.1 | ||
| Fair Value, Inputs, Net Asset Value | Short-term Investments | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension plan assets | $ 0.0 |
Pension Benefits - Components of Comprehensive Pension Expense (Details) - Pension Plans - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Service Cost Earned During the Year | $ 0.0 | $ 0.0 | $ 0.0 |
| Interest Cost on Projected Benefit Obligation | 0.0 | 8.4 | 8.7 |
| Expected Return on Plan Assets | 0.0 | (7.9) | (7.4) |
| Amortization of Prior Service Credit | 0.0 | (0.4) | (0.7) |
| Amortization of Actuarial Loss | 0.0 | 0.0 | 1.8 |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | (2.6) | 70.2 | 0.0 |
| Pension (Income) Expense Recognized in Consolidated Statements of Income (Loss) | (2.6) | 71.1 | 3.8 |
| Unrecognized Pension Loss Arising During the Year | 0.0 | 0.0 | (12.0) |
| Prior Service Cost Arising During the Year | 0.0 | 0.0 | 0.0 |
| Amortization of Prior Service Credit | 0.0 | 0.0 | 0.7 |
| Amortization of Accumulated Unrecognized Pension Loss | 0.0 | 0.0 | (1.8) |
| Comprehensive Pension (Income) Expense | $ (2.6) | $ 71.1 | $ (10.7) |
Pension Benefits - Actuarial Assumptions Pension Expense (Details) - Pension Plans |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Weighted-average Discount Rate | 0.00% | 5.05% | 2.89% |
| Interest Cost Discount Rate | 0.00% | 4.92% | 2.35% |
| Rate of Increase in Future Compensation Levels | 3.40% | ||
| Expected Long Term Rate of Return on Plan Assets | 0.00% | 3.79% | 2.08% |
Postretirement Benefits Other Than Pensions - Narrative (Details) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2024
USD ($)
employees
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2019
USD ($)
|
|
| Other Postretirement Benefit Plan, Defined Benefit | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Number of retired employees covered | employees | 400 | ||
| Number of active employees covered | employees | 500 | ||
| Pre-tax reduction to its accumulated postretirement benefit obligation | $ 11.0 | ||
| Amounts that will be amortized from AOCI in next fiscal Year | $ 2.1 | ||
| Estimated future employer contributions in next fiscal year | $ 0.9 | ||
| Medical Benefits | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Health care cost trend rate assumed for next fiscal year | 8.30% | 6.70% | |
| Health care cost trend rate assumed for future years | 4.70% | 4.70% | |
| Prescription Drug Benefits | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Health care cost trend rate assumed for next fiscal year | 12.30% | 8.00% | |
| Health care cost trend rate assumed for future years | 4.50% | 4.80% | |
Postretirement Benefits Other Than Pensions - Changes in Fair Value of Plan Assets and Changes in Accumulated Benefit Obligations (Details) - Other Postretirement Benefit Plan, Defined Benefit - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
| Fair Value of Plans’ Assets at Beginning of Year | $ 0.0 | $ 0.0 | |
| Employer Contributions | 0.4 | 1.0 | |
| Plan Participants’ Contributions | 0.1 | 0.3 | |
| Benefits Paid | (0.5) | (1.3) | |
| Fair Value of Plan Assets at End of Year | 0.0 | 0.0 | $ 0.0 |
| Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
| Accumulated Postretirement Benefit Obligation at Beginning of Year | 7.5 | 8.1 | |
| Service Cost | 0.1 | 0.1 | 0.2 |
| Interest Cost | 0.3 | 0.4 | 0.2 |
| Plan Participants’ Contributions | 0.1 | 0.3 | |
| Benefits Paid | (0.5) | (1.3) | |
| Actuarial Gains | (1.0) | (0.1) | |
| Projected Benefit Obligation at End of Year | 6.5 | 7.5 | $ 8.1 |
| Funded Status—Plan Assets in Excess of Projected Benefit Obligation | (6.5) | (7.5) | |
| Unamortized Actuarial Gain Reported in AOCI at End of Year | $ 12.0 | $ 13.9 | |
Postretirement Benefits Other Than Pensions - Actuarial Assumptions of OPEB Accumulated Benefit Obligation (Details) - Other Postretirement Benefit Plan, Defined Benefit |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | ||
| Discount Rate | 5.55% | 4.92% |
| Rate of Increase in Future Compensation Levels | 2.20% | 2.20% |
Postretirement Benefits Other Than Pensions - Components Of Comprehensive OPEB (Income) Expense (Details) - Other Postretirement Benefit Plan, Defined Benefit - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Service Cost Earned During the Year | $ 0.1 | $ 0.1 | $ 0.2 |
| Interest Cost on Accumulated Postretirement Benefit Obligation | 0.3 | 0.4 | 0.2 |
| Amortization of Prior Service Credit | (1.3) | (1.3) | (1.3) |
| Amortization of Accumulated Unrecognized OPEB Gain | (1.5) | (1.8) | (1.8) |
| Pension (Income) Expense Recognized in Consolidated Statements of Income (Loss) | (2.4) | (2.6) | (2.7) |
| Unrecognized OPEB Gain Arising During the Year | (1.0) | (0.1) | (2.5) |
| Prior Service Cost Arising During the Year | 1.3 | 1.3 | 1.3 |
| Amortization of Accumulated Unrecognized OPEB Gain | 1.5 | 1.8 | 1.8 |
| Comprehensive OPEB (Income) Expense | $ (0.6) | $ 0.4 | $ (2.1) |
Postretirement Benefits Other Than Pensions - Actuarial Assumptions of OPEB Expense (Details) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Effective Rate for Interest on Service Cost | 4.85% | 5.04% | 2.54% |
| Other Postretirement Benefit Plan, Defined Benefit | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Weighted-average Discount Rate | 4.92% | 5.11% | 2.56% |
| Service Cost Discount Rate | 4.94% | 5.12% | 2.79% |
| Interest Cost Discount Rate | 4.85% | 5.03% | 1.97% |
| Rate of Increase in Future Compensation Levels | 2.20% | 2.20% | 2.20% |
Postretirement Benefits Other Than Pensions - Benefit Payments Net of Expected Medicare Part D Subsidy (Details) - Other Postretirement Benefit Plan, Defined Benefit $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| Estimated Benefit Payments Excluding Medicare Part D Subsidy | |
| 2020 | $ 0.9 |
| 2021 | 0.8 |
| 2022 | 0.8 |
| 2023 | 0.7 |
| 2024 | 0.6 |
| 2030-2034 | 2.7 |
| Expected Medicare Part D Subsidy | |
| 2020 | 0.0 |
| 2021 | 0.0 |
| 2022 | 0.0 |
| 2023 | 0.0 |
| 2024 | 0.0 |
| 2030-2034 | 0.0 |
| Net Estimated Benefit Payments | |
| 2020 | 0.9 |
| 2021 | 0.8 |
| 2022 | 0.8 |
| 2023 | 0.7 |
| 2024 | 0.6 |
| 2030-2034 | $ 2.7 |
Long-term Equity-based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2024
USD ($)
installment
$ / shares
shares
|
Dec. 31, 2023
USD ($)
$ / shares
shares
|
Dec. 31, 2022
USD ($)
$ / shares
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Shares authorized (in shares) | 2,650,000 | ||
| Shares available for grant (in shares) | 2,363,941 | ||
| Share-based compensation expense | $ | $ 29,200 | $ 29,000 | $ 17,700 |
| Total compensation cost not yet recognized | $ | $ 28,000 | ||
| Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 3 years | ||
| Weighted-average grant-date fair values (in dollars per share) | $ / shares | $ 18.80 | $ 18.85 | $ 14.67 |
| Total intrinsic value | $ | $ 900 | $ 600 | $ 300 |
| Cash received from exercises of awards | $ | 4,700 | 1,900 | 600 |
| Total tax benefit realized for tax deductions from exercise of awards | $ | $ 200 | $ 100 | $ 100 |
| Additional shares for grant if performance level is above target | 100.00% | ||
| Number of shares issued not to vest if below minimum target | 0 | ||
| Award vesting rights, performance period | 3 years | ||
| Awards granted in period, measured with market performance condition | 67.00% | 67.00% | 67.00% |
| Awards granted in period, measured with entity specific metric | 33.00% | 33.00% | 33.00% |
| Performance Based Restricted Stock Units | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period | 3 years | ||
| Award vesting installments | installment | 3 | ||
| Restricted Stock Units (RSUs) | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period | 3 years | ||
| Annual awards of restricted stock units to be issued to each non-employee director, aggregate fair value | $ | $ 150 | $ 130 | $ 130 |
| Restricted Stock Units (RSUs) | Director | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period | 1 year | ||
| Stock Options | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period | 3 years | ||
| Award vesting installments | installment | 3 | ||
| Expiration period | 10 years | ||
| Restricted Stock | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Total fair value of vested awards | $ | $ 21,700 | 5,200 | 7,500 |
| Tax benefits for tax deductions realized from awards | $ | $ 4,500 | $ 1,100 | $ 1,600 |
| Performance Period 1 | Performance Based Restricted Stock Units | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Reduction in share authorization if maximum performance level is met or exceeded (in shares) | 192,438 | ||
| Number of additional shares to be granted if maximum performance level is met or exceeded (in shares) | 192,438 | ||
| Performance Period 2 | Performance Based Restricted Stock Units | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Reduction in share authorization if maximum performance level is met or exceeded (in shares) | 169,216 | ||
| Number of additional shares to be granted if maximum performance level is met or exceeded (in shares) | 169,216 | ||
| Performance Period 3 | Performance Based Restricted Stock Units | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Reduction in share authorization if maximum performance level is met or exceeded (in shares) | 174,872 | ||
| Number of additional shares to be granted if maximum performance level is met or exceeded (in shares) | 174,872 | ||
Long-term Equity-based Compensation - Black-Scholes Pricing Model For Options (Details) - Stock Options |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Expected volatility rate, minimum | 34.49% | 35.12% | 33.20% |
| Expected volatility rate, maximum | 38.21% | 39.27% | 37.67% |
| Risk-free interest rate, minimum | 3.83% | 3.47% | 1.20% |
| Risk-free interest rate, maximum | 4.02% | 4.74% | 4.33% |
| Minimum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Expected dividend yield rate | 1.95% | 1.55% | 1.59% |
| Maximum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Expected dividend yield rate | 2.15% | 2.39% | 2.25% |
| Employee | Minimum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average expected life (in years) | 4 years | 4 years | 4 years |
| Employee | Maximum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average expected life (in years) | 6 years | 6 years | 6 years |
Long-term Equity-based Compensation - Option and SAR Activity (Details) $ / shares in Units, $ in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
USD ($)
$ / shares
shares
| |
| Shares Subject to Awards | |
| Outstanding at Beginning of the Year (in shares) | shares | 2,373,319 |
| Granted (in shares) | shares | 240,412 |
| Exercised (in shares) | shares | (88,989) |
| Forfeited or Expired (in shares) | shares | (168,962) |
| Outstanding at December 31, 2019 (in shares) | shares | 2,355,780 |
| Vested and Expected to Vest at December 31, 2019 (in shares) | shares | 2,328,720 |
| Exercisable at December 31, 2019 (in shares) | shares | 1,874,676 |
| Weighted- average Exercise Price Per Share ($) | |
| Outstanding at Beginning of the Year (in dollars per share) | $ / shares | $ 59.27 |
| Granted (in dollars per share) | $ / shares | 57.99 |
| Exercised (in dollars per share) | $ / shares | 52.47 |
| Forfeited or Expired (in dollars per share) | $ / shares | 69.93 |
| Outstanding at December 31, 2019 (in dollars per share) | $ / shares | 58.62 |
| Vested and Expected to Vest at December 31, 2019 (in dollars per share) | $ / shares | 58.66 |
| Exercisable at December 31, 2019 (in dollars per share) | $ / shares | $ 59.13 |
| Weighted- average Remaining Contractual Life (in Years) | |
| Outstanding at December 31, 2024 | 4 years 10 months 28 days |
| Vested and Expected to Vest at December 31, 2024 | 4 years 10 months 17 days |
| Exercisable at December 31, 2024 | 4 years 10 days |
| Aggregate Intrinsic Value ($ In Millions) | |
| Outstanding at December 31, 2024 | $ | $ 24.6 |
| Vested and Expected to Vest at December 31, 2024 | $ | 24.3 |
| Exercisable at December 31, 2024 | $ | $ 19.9 |
Long-term Equity-based Compensation - Schedule of Outstanding Options (Details) - $ / shares |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Shares Subject to Awards (in shares) | 2,355,780 | 2,373,319 |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 58.62 | $ 59.27 |
| Weighted- average Remaining Contractual Life (in Years) | 4 years 10 months 28 days | |
| Range of Exercise Prices $20.01 - $30.00 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Range of Exercise Prices, Lower Range Limit (in dollars per share) | $ 20.01 | |
| Range of Exercise Prices, Upper Range Limit (in dollars per share) | $ 30.00 | |
| Shares Subject to Awards (in shares) | 103,731 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 27.71 | |
| Weighted- average Remaining Contractual Life (in Years) | 1 year 1 month 28 days | |
| Shares Subject to Awards (in shares) | 103,731 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 27.71 | |
| Range of Exercise Prices $30.01 - $40.00 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Range of Exercise Prices, Lower Range Limit (in dollars per share) | 30.01 | |
| Range of Exercise Prices, Upper Range Limit (in dollars per share) | $ 40.00 | |
| Shares Subject to Awards (in shares) | 64,219 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 33.11 | |
| Weighted- average Remaining Contractual Life (in Years) | 11 months 23 days | |
| Shares Subject to Awards (in shares) | 64,219 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 33.11 | |
| Range of Exercise Prices $40.01 - $50.00 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Range of Exercise Prices, Lower Range Limit (in dollars per share) | 40.01 | |
| Range of Exercise Prices, Upper Range Limit (in dollars per share) | $ 50.00 | |
| Shares Subject to Awards (in shares) | 326,945 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 42.62 | |
| Weighted- average Remaining Contractual Life (in Years) | 1 year 11 months 4 days | |
| Shares Subject to Awards (in shares) | 320,220 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 42.52 | |
| Range of Exercise Prices $50.01 - $60.00 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Range of Exercise Prices, Lower Range Limit (in dollars per share) | 50.01 | |
| Range of Exercise Prices, Upper Range Limit (in dollars per share) | $ 60.00 | |
| Shares Subject to Awards (in shares) | 1,064,337 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 56.48 | |
| Weighted- average Remaining Contractual Life (in Years) | 6 years 6 months | |
| Shares Subject to Awards (in shares) | 602,879 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 56.40 | |
| Range of Exercise Prices $60.01 - $70.00 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Range of Exercise Prices, Lower Range Limit (in dollars per share) | 60.01 | |
| Range of Exercise Prices, Upper Range Limit (in dollars per share) | $ 70.00 | |
| Shares Subject to Awards (in shares) | 274,361 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 68.94 | |
| Weighted- average Remaining Contractual Life (in Years) | 5 years 8 months 8 days | |
| Shares Subject to Awards (in shares) | 261,440 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 69.21 | |
| Range of Exercise Prices $70.01 - $80.00 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Range of Exercise Prices, Lower Range Limit (in dollars per share) | 70.01 | |
| Range of Exercise Prices, Upper Range Limit (in dollars per share) | $ 80.00 | |
| Shares Subject to Awards (in shares) | 502,599 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 76.61 | |
| Weighted- average Remaining Contractual Life (in Years) | 4 years 3 months 29 days | |
| Shares Subject to Awards (in shares) | 502,599 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 76.61 | |
| Range of Exercise Prices $80.01 - $90.00 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Range of Exercise Prices, Lower Range Limit (in dollars per share) | 80.01 | |
| Range of Exercise Prices, Upper Range Limit (in dollars per share) | $ 90.00 | |
| Shares Subject to Awards (in shares) | 19,588 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 83.42 | |
| Weighted- average Remaining Contractual Life (in Years) | 4 years 9 months 7 days | |
| Shares Subject to Awards (in shares) | 19,588 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 83.42 | |
| Range of Exercise Prices $20.01 - $90.00 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Range of Exercise Prices, Lower Range Limit (in dollars per share) | 20.01 | |
| Range of Exercise Prices, Upper Range Limit (in dollars per share) | $ 90.00 | |
| Shares Subject to Awards (in shares) | 2,355,780 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 58.62 | |
| Weighted- average Remaining Contractual Life (in Years) | 4 years 10 months 28 days | |
| Shares Subject to Awards (in shares) | 1,874,676 | |
| Weighted- average Exercise Price Per Share ($) (in dollars per share) | $ 59.13 |
Long-term Equity-based Compensation - Activity Related to Nonvested Restricted Stock (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
$ / shares
shares
| |
| Time Vested Restricted Stock Units | |
| Number of Stock Units | |
| Nonvested Balance at Beginning of Year (in shares) | shares | 568,316 |
| Grants in Period (in shares) | shares | 448,121 |
| Vested in Period (in shares) | shares | (359,874) |
| Forfeited in Period (in shares) | shares | (70,831) |
| Nonvested Balance at December 31, 2019 (in shares) | shares | 585,732 |
| Weighted- average Grant-date Fair Value Per Unit | |
| Nonvested Balance at Beginning of Year (in dollars per share) | $ / shares | $ 54.77 |
| Granted (in dollars per share) | $ / shares | 57.94 |
| Vested (in dollars per share) | $ / shares | 54.06 |
| Forfeited (in dollars per share) | $ / shares | 57.44 |
| Nonvested Balance at December 31, 2019 (in dollars per share) | $ / shares | $ 57.34 |
| Performance Based Restricted Stock Units | |
| Number of Stock Units | |
| Nonvested Balance at Beginning of Year (in shares) | shares | 581,307 |
| Grants in Period (in shares) | shares | 208,294 |
| Vested in Period (in shares) | shares | 0 |
| Forfeited in Period (in shares) | shares | (253,075) |
| Nonvested Balance at December 31, 2019 (in shares) | shares | 536,526 |
| Weighted- average Grant-date Fair Value Per Unit | |
| Nonvested Balance at Beginning of Year (in dollars per share) | $ / shares | $ 63.82 |
| Granted (in dollars per share) | $ / shares | 64.83 |
| Vested (in dollars per share) | $ / shares | 0 |
| Forfeited (in dollars per share) | $ / shares | 70.69 |
| Nonvested Balance at December 31, 2019 (in dollars per share) | $ / shares | $ 60.99 |
Long-term Equity-based Compensation - Schedule of Share-based Compensation, Nonemployee Director Deferred Stock Unit Award Plan (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
$ / shares
shares
| |
| Number of DSUs | |
| Vested Balance at Beginning of the Year (in shares) | shares | 28,380 |
| Reduction for Shares Issued on Conversion (in shares) | shares | (15,440) |
| Vested Balance at December 31, 2019 (in shares) | shares | 12,940 |
| Weighted- average Grant-date Fair Value Per DSU | |
| Vested Balance at Beginning of the Year (in dollars per share) | $ / shares | $ 46.07 |
| Reduction for Shares Issued on Conversion (in dollars per share) | $ / shares | 42.94 |
| Vested Balance at December 31, 2019 (in dollars per share) | $ / shares | $ 49.80 |
Policyholder Contract Liabilities - Policyholder Contract Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Investment Holdings [Line Items] | ||
| Policyholder Obligations | $ 637.7 | $ 655.7 |
| Universal Life-type Policyholder Account Balances | ||
| Investment Holdings [Line Items] | ||
| Policyholder Obligations | 96.4 | 98.3 |
| United Insurance | FHLB of Chicago | ||
| Investment Holdings [Line Items] | ||
| Policyholder Obligations | $ 541.3 | $ 557.4 |
Policyholder Contract Liabilities - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items] | ||
| Policyholder Account Balance, Weighted Average Crediting Rate | 5.10% | |
| Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Net | $ 276.6 | $ 294.1 |
| Policyholder Account Balance, Cash Surrender Value | 96.4 | 98.2 |
| FHLB of Chicago | United Insurance | ||
| Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items] | ||
| Federal Home Loan Bank, amount of advances | 101.7 | 122.5 |
| Payments of FHLBank borrowings | $ 117.8 | $ 166.1 |
Policyholder Contract Liabilities - Supplemental Financial Information (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items] | ||
| Liability under Funding Agreements | $ 637.7 | $ 655.7 |
| United Insurance | FHLB of Chicago | ||
| Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items] | ||
| Liability under Funding Agreements | 541.3 | 557.4 |
| Fair Value of Collateral Pledged | 619.3 | 629.3 |
| FHLB of Chicago Common Stock Owned at Cost | $ 16.9 | $ 16.6 |
Debt - Narrative (Details) |
1 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 10, 2022
USD ($)
deferral_period
|
Jun. 04, 2019
USD ($)
|
Jun. 30, 2017
USD ($)
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
Feb. 15, 2022
USD ($)
|
Sep. 22, 2020 |
Jun. 08, 2018
USD ($)
|
Feb. 28, 2015
USD ($)
|
|
| Debt Instrument [Line Items] | ||||||||||
| Long-term Debt | $ 1,391,600,000 | $ 1,389,200,000 | ||||||||
| Interest expense | 56,900,000 | 56,100,000 | $ 54,700,000 | |||||||
| Interest paid including facility fees | $ 54,500,000 | 54,500,000 | $ 51,500,000 | |||||||
| Senior Notes, 4.35 Percent Due February 15, 2025 | Senior Notes | ||||||||||
| Debt Instrument [Line Items] | ||||||||||
| Stated interest rate, percentage | 4.35% | |||||||||
| Long-term debt, gross | $ 450,000,000.0 | |||||||||
| Debt instrument, face amount | $ 250,000,000.0 | |||||||||
| Increase in debt instrument | $ 200,000,000.0 | |||||||||
| Long-term Debt | 0 | 449,600,000 | ||||||||
| Senior Notes, 2.400 Percent Due September 30, 2030 | Senior Notes | ||||||||||
| Debt Instrument [Line Items] | ||||||||||
| Stated interest rate, percentage | 2.40% | |||||||||
| Long-term debt, gross | 400,000,000.0 | |||||||||
| Proceeds from debt, net of issuance costs | 395,800,000 | |||||||||
| Debt instrument, effective interest rate | 2.52% | |||||||||
| Long-term Debt | 397,500,000 | 397,000,000.0 | ||||||||
| Senior Notes, 3.800 Percent Due February 23, 2032 | ||||||||||
| Debt Instrument [Line Items] | ||||||||||
| Long-term Debt | $ 395,100,000 | |||||||||
| Senior Notes, 3.800 Percent Due February 23, 2032 | Senior Notes | ||||||||||
| Debt Instrument [Line Items] | ||||||||||
| Stated interest rate, percentage | 3.80% | |||||||||
| Long-term debt, gross | 400,000,000 | |||||||||
| Debt instrument, effective interest rate | 3.95% | |||||||||
| Long-term Debt | 396,500,000 | 396,000,000.0 | ||||||||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | ||||||||||
| Debt Instrument [Line Items] | ||||||||||
| Long-term Debt | $ 144,700,000 | |||||||||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | Senior Notes | ||||||||||
| Debt Instrument [Line Items] | ||||||||||
| Long-term debt, gross | 150,000,000 | |||||||||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | Junior Debt | ||||||||||
| Debt Instrument [Line Items] | ||||||||||
| Stated interest rate, percentage | 5.875% | |||||||||
| Long-term Debt | 147,700,000 | 146,600,000 | ||||||||
| Debt instrument, basis spread on variable rate | 4.14% | |||||||||
| Interest deferrals, number of deferral periods | deferral_period | 1 | |||||||||
| Interest deferrals, period (up to) | 5 years | |||||||||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | Junior Debt | Five-Year Treasury Rate | ||||||||||
| Debt Instrument [Line Items] | ||||||||||
| Debt instrument, basis spread on variable rate | 4.14% | |||||||||
| Second Amended and Restated Credit Agreement | Notes Payable under Revolving Credit Agreement | Revolving Credit Facility | ||||||||||
| Debt Instrument [Line Items] | ||||||||||
| Maximum Capacity Amount | $ 800,000,000.0 | $ 512,000,000.0 | $ 600,000,000.0 | |||||||
| Increase in line of credit facility | 200,000,000.0 | |||||||||
| Line of credit, outstanding | $ 0 | |||||||||
| Debt issuance costs | 2,200,000 | |||||||||
| Unamortized debt issuance expense | $ 1,100,000 | |||||||||
Debt - Debt Outstanding (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
Mar. 10, 2022 |
Feb. 15, 2022 |
Sep. 22, 2020 |
|---|---|---|---|---|---|
| Debt Instrument [Line Items] | |||||
| Long-Term Debt, Current Maturities | $ 449.9 | $ 0.0 | |||
| Long-term Debt | $ 1,391.6 | 1,389.2 | |||
| Senior Notes, 3.800 Percent Due February 23, 2032 | |||||
| Debt Instrument [Line Items] | |||||
| Long-term Debt | $ 395.1 | ||||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | |||||
| Debt Instrument [Line Items] | |||||
| Long-term Debt | $ 144.7 | ||||
| Senior Notes | Senior Notes, 4.35 Percent Due February 15, 2025 | |||||
| Debt Instrument [Line Items] | |||||
| Stated interest rate, percentage | 4.35% | ||||
| Long-Term Debt, Current Maturities | $ 449.9 | 0.0 | |||
| Senior Notes | Senior Notes, 4.35 Percent Due February 15, 2025 | |||||
| Debt Instrument [Line Items] | |||||
| Stated interest rate, percentage | 4.35% | ||||
| Long-term Debt | $ 0.0 | 449.6 | |||
| Senior Notes | Senior Notes, 2.400 Percent Due September 30, 2030 | |||||
| Debt Instrument [Line Items] | |||||
| Stated interest rate, percentage | 2.40% | ||||
| Long-term Debt | 397.5 | 397.0 | |||
| Senior Notes | Senior Notes, 3.800 Percent Due February 23, 2032 | |||||
| Debt Instrument [Line Items] | |||||
| Stated interest rate, percentage | 3.80% | ||||
| Long-term Debt | 396.5 | 396.0 | |||
| Junior Debt | 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | |||||
| Debt Instrument [Line Items] | |||||
| Stated interest rate, percentage | 5.875% | ||||
| Long-term Debt | $ 147.7 | $ 146.6 |
Leases - Narrative (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Operating Leased Assets [Line Items] | |||
| Gain (loss) on termination of lease | $ 0 | $ 18,000,000.0 | $ 0 |
| Minimum | Building | |||
| Operating Leased Assets [Line Items] | |||
| Operating lease, term of contract | 1 year | ||
| Minimum | Equipment | |||
| Operating Leased Assets [Line Items] | |||
| Operating lease, term of contract | 1 year | ||
| Maximum | Building | |||
| Operating Leased Assets [Line Items] | |||
| Operating lease, term of contract | 15 years | ||
| Maximum | Equipment | |||
| Operating Leased Assets [Line Items] | |||
| Operating lease, term of contract | 5 years | ||
Leases - Right of Use Assets and Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Leases [Abstract] | ||
| Operating Lease Right-of-Use Assets | $ 33.9 | $ 38.4 |
| Operating Lease Liability | $ 51.6 | $ 62.3 |
| Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets |
| Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Accrued Expenses and Other Liabilities | Accrued Expenses and Other Liabilities |
Leases - Lease Cost (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Lease Cost | ||
| Operating Lease, Cost | $ 15.5 | $ 15.7 |
| Variable Lease, Cost | 4.7 | 3.2 |
| Short-Term Lease Cost | 1.1 | 0.3 |
| Total Lease Cost | $ 21.3 | $ 19.2 |
Leases - Lease Weighted Average (Details) |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Leases [Abstract] | ||
| Weighted-average Remaining Lease Term - Operating Leases | 4 years 6 months | 5 years 6 months |
| Weighted-average Discount Rate - Operating Leases | 4.50% | 4.30% |
Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Operating Leases | ||
| 2025 | $ 18.2 | |
| 2026 | 11.3 | |
| 2027 | 9.9 | |
| 2028 | 7.1 | |
| 2029 | 5.4 | |
| 2030 and Thereafter | 12.9 | |
| Total Future Payments | 64.8 | |
| Less: Discount | 13.2 | |
| Present Value of Minimum Lease Payments | $ 51.6 | $ 62.3 |
Catastrophe Reinsurance - Narrative (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Liability for Catastrophe Claims [Line Items] | |||
| Catastrophic events classification by amount | $ 25,000,000.0 | ||
| Incurred losses and LAE related to prior year (favorable) adverse development | 22,600,000 | $ (14,600,000) | |
| Non-Core Operations | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Incurred losses and LAE related to prior year (favorable) adverse development | $ 24,800,000 | ||
| Catastrophe | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Incurred losses and LAE related to prior year (favorable) adverse development | 6,000,000.0 | (9,100,000) | (4,100,000) |
| Catastrophe | Non-Core Operations | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Incurred losses and LAE related to prior year (favorable) adverse development | 5,400,000 | (7,600,000) | (6,200,000) |
| Catastrophe | Life Insurance | Operating Segments | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Incurred losses and LAE related to prior year (favorable) adverse development | (100,000) | 800,000 | 1,500,000 |
| Catastrophe | Specialty Property & Casualty Insurance | Operating Segments | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Incurred losses and LAE related to prior year (favorable) adverse development | $ 700,000 | $ (2,300,000) | $ 600,000 |
Catastrophe Reinsurance - Coverage for Catastrophe Reinsurance (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Retained | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, reinsured risk, percentage | 0.00% | 0.00% | 0.00% |
| 1st Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, percentage | 85.00% | 95.00% | 95.00% |
| 2nd Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, percentage | 95.00% | 95.00% | 95.00% |
| 3rd Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, percentage | 31.70% | 95.00% | 95.00% |
| 4th Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, percentage | 95.00% | 95.00% | |
| Minimum | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, amount retained | $ 0 | ||
| Reinsurance retention policy, excess retention, amount reinsured | 65,000,000.0 | ||
| Minimum | Retained | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, amount retained | $ 0 | $ 0 | 0 |
| Minimum | 1st Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, amount reinsured | 50,000,000.0 | 50,000,000.0 | 50,000,000.0 |
| Minimum | 2nd Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, amount reinsured | 150,000,000.0 | 150,000,000.0 | 150,000,000.0 |
| Minimum | 3rd Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, amount reinsured | 240,000,000.0 | 250,000,000.0 | 250,000,000.0 |
| Minimum | 4th Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, amount reinsured | 295,000,000.0 | 325,000,000.0 | |
| Maximum | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, amount retained | 65,000,000.0 | ||
| Reinsurance retention policy, excess retention, amount reinsured | 115,000,000.0 | ||
| Maximum | Retained | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, amount retained | 50,000,000.0 | 50,000,000.0 | 50,000,000.0 |
| Maximum | 1st Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, amount reinsured | 150,000,000.0 | 150,000,000.0 | 150,000,000.0 |
| Maximum | 2nd Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, amount reinsured | 240,000,000.0 | 250,000,000.0 | 250,000,000.0 |
| Maximum | 3rd Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, amount reinsured | $ 250,000,000.0 | 295,000,000.0 | 325,000,000.0 |
| Maximum | 4th Layer of Coverage | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Reinsurance retention policy, excess retention, amount reinsured | $ 325,000,000.0 | $ 350,000,000.0 | |
Catastrophe Reinsurance - Catastrophe Reinsurance Premiums (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Liability for Catastrophe Claims [Line Items] | |||
| Ceded earned premiums | $ 33.1 | $ 32.7 | $ 42.7 |
| Catastrophe Reinsurance | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Ceded earned premiums | 16.4 | 16.3 | 32.0 |
| Operating Segments | Specialty Property & Casualty Insurance | Catastrophe Reinsurance | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Ceded earned premiums | 6.5 | 6.1 | 8.9 |
| Operating Segments | Life Insurance | Catastrophe Reinsurance | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Ceded earned premiums | 0.3 | 0.7 | 0.6 |
| Non-Core Operations | Catastrophe Reinsurance | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Ceded earned premiums | $ 9.6 | $ 9.5 | $ 22.5 |
Catastrophe Reinsurance - Catastrophe Losses and LAE (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Catastrophe Reinsurance | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Catastrophe Losses and LAE | $ 71.3 | $ 87.6 | $ 75.2 |
| Non-Core Operations | Catastrophe Reinsurance | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Catastrophe Losses and LAE | 48.6 | 52.4 | 48.3 |
| Specialty Property & Casualty Insurance | Operating Segments | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Catastrophe Losses and LAE | 2,541.7 | 3,141.9 | 3,578.2 |
| Specialty Property & Casualty Insurance | Operating Segments | Catastrophe Reinsurance | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Catastrophe Losses and LAE | 20.6 | 32.2 | 23.6 |
| Life Insurance | Operating Segments | Catastrophe Reinsurance | |||
| Liability for Catastrophe Claims [Line Items] | |||
| Catastrophe Losses and LAE | $ 2.1 | $ 3.0 | $ 3.3 |
Other Reinsurance (Details) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2024
USD ($)
employees
director
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
|
| Effects of Reinsurance [Line Items] | |||
| Reinsurance recoverables | $ 78.7 | $ 86.5 | |
| Ceded earned premiums | 33.1 | 32.7 | $ 42.7 |
| Assumed earned premiums | 10.5 | 29.7 | 26.3 |
| Short duration policies | |||
| Effects of Reinsurance [Line Items] | |||
| Reinsurance recoverables | 26.0 | 34.1 | |
| Long-duration policies | |||
| Effects of Reinsurance [Line Items] | |||
| Reinsurance recoverables | 52.7 | 52.4 | |
| Catastrophe Reinsurance | |||
| Effects of Reinsurance [Line Items] | |||
| Ceded earned premiums | 16.4 | 16.3 | 32.0 |
| Non-Catastrophe Reinsurance | |||
| Effects of Reinsurance [Line Items] | |||
| Assumed earned premiums | $ 21.8 | 42.9 | 41.4 |
| Capitol County Mutual Fire Insurance Company | |||
| Effects of Reinsurance [Line Items] | |||
| Number of employee board members | employees | 5 | ||
| Number of board of director members | director | 5 | ||
| Old Reliable Casualty Company | |||
| Effects of Reinsurance [Line Items] | |||
| Number of employee board members | employees | 9 | ||
| Number of board of director members | director | 9 | ||
| Capitol County Mutual Fire Insurance Company | |||
| Effects of Reinsurance [Line Items] | |||
| Assumed earned premiums | $ 10.5 | 10.4 | 11.9 |
| Capitol County Mutual Fire Insurance Company | Trinity | |||
| Effects of Reinsurance [Line Items] | |||
| Percentage of written business assumed | 100.00% | ||
| Old Reliable Casualty Company | |||
| Effects of Reinsurance [Line Items] | |||
| Assumed earned premiums | $ 2.3 | $ 2.7 | $ 3.2 |
| Old Reliable Casualty Company | Trinity | |||
| Effects of Reinsurance [Line Items] | |||
| Percentage of written business assumed | 100.00% | ||
Income Taxes - Schedule of Temporary Differences That Give Rise to Net Deferred Income Tax Assets (Liabilities) (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Deferred Income Tax Assets: | ||
| Unearned Premium Reserves | $ 52.8 | $ 54.0 |
| Tax Capitalization of Policy Acquisition Costs | 49.5 | 46.3 |
| Payroll and Employee Benefit Accruals | 34.7 | 34.8 |
| Investments | 147.6 | 103.4 |
| Net Operating Loss and Credit Carryforwards | 14.0 | 114.6 |
| Other | 45.9 | 32.2 |
| Subtotal | 344.5 | 385.3 |
| Valuation Allowance | (38.7) | (27.4) |
| Total Deferred Income Tax Assets | 305.8 | 357.9 |
| Deferred Income Tax Liabilities: | ||
| Insurance Reserves | 39.5 | 12.7 |
| Deferred Policy Acquisition Costs | 132.3 | 124.3 |
| Goodwill and Other Intangible Assets | 35.0 | 35.8 |
| Depreciable Assets | 14.6 | 19.3 |
| Other | 4.4 | 6.0 |
| Total Deferred Income Tax Liabilities | 225.8 | 198.1 |
| Net Deferred Income Tax (Assets) | 80.0 | 159.8 |
| Income Tax Contingency [Line Items] | ||
| Net Deferred Income Tax (Assets) | 80.0 | $ 159.8 |
| Variable Interest Entity, Primary Beneficiary | ||
| Deferred Income Tax Liabilities: | ||
| Net Deferred Income Tax (Assets) | 1.5 | |
| Income Tax Contingency [Line Items] | ||
| Net Deferred Income Tax (Assets) | $ 1.5 |
Income Taxes - Narrative (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Income Tax Contingency [Line Items] | |||
| Net Deferred Income Tax (Assets) | $ 80,000,000.0 | $ 159,800,000 | |
| Deferred Income Tax Assets | 94,800,000 | ||
| Deferred Income Tax Liabilities | 14,800,000 | 50,600,000 | |
| Valuation Allowance | (38,700,000) | (27,400,000) | |
| Increase in valuation allowance | 11,300,000 | ||
| Unrecognized tax benefits | 0 | 0 | $ 0 |
| Unrecognized tax benefits, income tax penalties and interest accrued | 0 | 0 | 0 |
| Income taxes paid | (11,200,000) | 106,700,000 | (700,000) |
| State and Local Jurisdiction | |||
| Income Tax Contingency [Line Items] | |||
| Proceeds from Income Tax Refunds | 1,300,000 | 1,000,000.0 | |
| Income taxes paid | 400,000 | ||
| Domestic Tax Jurisdiction | |||
| Income Tax Contingency [Line Items] | |||
| Proceeds from Income Tax Refunds | $ 9,900,000 | $ 1,100,000 | |
| Income taxes paid | $ 107,700,000 | ||
Income Taxes - Summary of Federal Net Operating Loss Carryforwards and Related Deferred Income Tax Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Income Tax Contingency [Line Items] | ||
| Deferred Tax Asset | $ 14.0 | $ 114.6 |
| Internal Revenue Service (IRS) | ||
| Income Tax Contingency [Line Items] | ||
| NOL Carry-forwards | 66.5 | |
| Deferred Tax Asset | 14.0 | |
| Internal Revenue Service (IRS) | 2043 | ||
| Income Tax Contingency [Line Items] | ||
| NOL Carry-forwards | 0.3 | |
| Deferred Tax Asset | 0.1 | |
| Internal Revenue Service (IRS) | 2044 | ||
| Income Tax Contingency [Line Items] | ||
| NOL Carry-forwards | 6.0 | |
| Deferred Tax Asset | 1.3 | |
| Internal Revenue Service (IRS) | No Expiration | ||
| Income Tax Contingency [Line Items] | ||
| NOL Carry-forwards | 60.2 | |
| Deferred Tax Asset | $ 12.6 |
Income Taxes - Income Tax Benefit (Expense) from Continuing Operations (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Income Tax Disclosure [Abstract] | |||
| Current Income Tax Expense (Benefit) | $ 11.9 | $ (4.0) | $ 6.2 |
| Deferred Income Tax Expense (Benefit) | 64.1 | (70.8) | (90.6) |
| Income Tax Expense (Benefit) | $ 76.0 | $ (74.8) | $ (84.4) |
Income Taxes - Statutory Federal Income Tax Expense, Effective Income Tax Expense, Rates (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Amount | |||
| Statutory Federal Income Tax Expense (Benefit) | $ 81.6 | $ (72.8) | $ (77.9) |
| Tax-exempt Income and Dividends Received Deduction | (3.4) | (4.8) | (5.3) |
| Untaxed Earnings on Company-Owned Life Insurance | (7.5) | (6.1) | (8.0) |
| Tax credits | (1.2) | (3.1) | (6.5) |
| Stock-Based Compensation | (0.1) | 0.3 | 1.3 |
| Nondeductible Executive Compensation | 3.5 | 1.8 | 1.5 |
| Goodwill impairment | 0.0 | 6.3 | 0.0 |
| Expense on Transactions | 0.0 | 0.0 | 11.5 |
| Effect of foreign operations | (11.3) | (27.4) | 0.0 |
| Change in valuation allowance | 11.3 | 27.4 | 0.0 |
| Other, Net | 3.1 | 3.6 | (1.0) |
| Income Tax Expense (Benefit) | $ 76.0 | $ (74.8) | $ (84.4) |
| Rate | |||
| Statutory Federal Income Tax Expense (Benefit) | 21.00% | 21.00% | 21.00% |
| Tax-exempt Income and Dividends Received Deduction | (0.90%) | 1.40% | 1.30% |
| Untaxed Earnings on Company-Owned Life Insurance | (1.90%) | 1.80% | 2.10% |
| Tax credits | (0.30%) | 0.90% | 1.70% |
| Stock-Based Compensation | 0.00% | 0.10% | 0.30% |
| Nondeductible Executive Compensation | (0.90%) | 0.50% | 0.40% |
| Goodwill impairment | 0.00% | (1.80%) | 0.00% |
| Expense on Transactions | 0.00% | 0.00% | 3.00% |
| Effect of foreign operations | (2.90%) | 7.90% | 0.00% |
| Change in valuation allowance | 2.90% | (7.90%) | 0.00% |
| Other, Net | (0.80%) | 1.10% | (0.30%) |
| Effective Income Tax Expense (Benefit) | 19.60% | 21.60% | 22.70% |
Income Taxes - Comprehensive Income Tax Benefit and Expense (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Income Tax Disclosure [Abstract] | |||
| Income Tax Expense (Benefit) | $ 76.0 | $ (74.8) | $ (84.4) |
| Unrealized (Depreciation) Appreciation on Securities | 42.2 | (50.3) | 325.5 |
| Tax Effects from Postretirement Benefit Plans | 0.3 | (12.4) | (4.0) |
| Tax Effects on changes in Discount Rate for Life Reserves | (58.3) | 21.2 | (289.9) |
| Tax Effects from Cash Flow Hedge | 0.8 | 0.0 | (1.2) |
| Comprehensive Income (Loss), Tax | $ 91.0 | $ (33.3) | $ (114.8) |
Schedule 1 - Investments Other Than Investments in Related Parties (Details) $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | $ 9,773.9 |
| Amount Carried in Balance Sheet | 8,888.5 |
| Fixed Maturities: | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 7,295.0 |
| Fair Value | 6,409.6 |
| Amount Carried in Balance Sheet | 6,409.6 |
| United States Government and Government Agencies and Authorities | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 588.6 |
| Fair Value | 486.8 |
| Amount Carried in Balance Sheet | 486.8 |
| States and Political Subdivisions | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 1,457.3 |
| Fair Value | 1,233.2 |
| Amount Carried in Balance Sheet | 1,233.2 |
| Foreign Governments | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 6.5 |
| Fair Value | 6.6 |
| Amount Carried in Balance Sheet | 6.6 |
| Other Bonds and Notes | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 4,038.3 |
| Fair Value | 3,519.6 |
| Amount Carried in Balance Sheet | 3,519.6 |
| Redeemable Preferred Stocks | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 9.8 |
| Fair Value | 8.9 |
| Amount Carried in Balance Sheet | 8.9 |
| Collateralized Loan Obligations | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 747.8 |
| Fair Value | 741.5 |
| Amount Carried in Balance Sheet | 741.5 |
| Other Mortgage- and Asset-backed | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 446.7 |
| Fair Value | 413.0 |
| Amount Carried in Balance Sheet | 413.0 |
| Equity Securities at Fair Value: | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 218.5 |
| Fair Value | 218.5 |
| Amount Carried in Balance Sheet | 218.5 |
| Preferred Stocks | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 22.6 |
| Fair Value | 22.6 |
| Amount Carried in Balance Sheet | 22.6 |
| Common Stock | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 1.4 |
| Fair Value | 1.4 |
| Amount Carried in Balance Sheet | 1.4 |
| Other Equity Interests | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 194.5 |
| Fair Value | 194.5 |
| Amount Carried in Balance Sheet | 194.5 |
| Equity Method Limited Liability Investments at Cost Plus Cumulative Undistributed Earnings | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 186.3 |
| Amount Carried in Balance Sheet | 186.3 |
| Alternative Energy Partnership Investments | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 17.6 |
| Amount Carried in Balance Sheet | 17.6 |
| Short-term Investments | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 1,037.1 |
| Amount Carried in Balance Sheet | 1,037.1 |
| Company-Owned Life Insurance | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 539.2 |
| Amount Carried in Balance Sheet | 539.2 |
| Loans to Policyholders | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 280.7 |
| Amount Carried in Balance Sheet | 280.7 |
| Other Investments | |
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | |
| Amortized Cost | 199.5 |
| Amount Carried in Balance Sheet | $ 199.5 |
Schedule 2 - Parent Company Financial Statements - Balance Sheets (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Mar. 10, 2022 |
Feb. 15, 2022 |
Dec. 31, 2021 |
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Fixed Maturities at Fair Value (Amortized Cost: 2024 – $0.5; 2023 - $177.4) | $ 6,409.6 | $ 6,881.9 | ||||
| Equity Securities at Fair Value (Cost: 2024 - $12.8; 2023 - $11.6) | 218.5 | 225.8 | ||||
| Other Investments | 199.5 | 241.9 | ||||
| Cash | 64.4 | 64.1 | ||||
| Other Receivables | 185.7 | 200.5 | ||||
| Current Income Taxes | 63.4 | 64.5 | ||||
| Right-of-Use Assets | 33.9 | 38.4 | ||||
| Other Assets | 436.1 | 492.6 | ||||
| Total Assets | 12,630.4 | 12,742.7 | $ 13,313.6 | |||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Long-Term Debt | 1,391.6 | 1,389.2 | ||||
| Long-term Debt | 1,278.4 | 1,213.4 | ||||
| Deferred Income Tax Liabilities | 14.8 | 50.6 | ||||
| Present Value of Minimum Lease Payments | 51.6 | 62.3 | ||||
| Accrued Expenses and Other Liabilities | 705.2 | 737.7 | ||||
| Total Liabilities | 9,846.1 | 10,237.7 | ||||
| Shareholders’ Equity: | ||||||
| Common Stock | 6.4 | 6.4 | ||||
| Additional Paid-in Capital | 1,854.9 | 1,845.3 | ||||
| Retained Earnings | 1,231.6 | 1,014.3 | ||||
| Accumulated Other Comprehensive Loss | (304.5) | (360.8) | ||||
| Total Shareholders’ Equity | 2,788.4 | 2,505.2 | $ (849.7) | |||
| Noncontrolling Interest | (4.1) | (0.2) | ||||
| Total Shareholders’ Equity | 2,784.3 | 2,505.0 | 2,670.6 | 3,129.7 | ||
| Total Liabilities and Shareholders’ Equity | 12,630.4 | 12,742.7 | ||||
| Senior Notes, 3.800 Percent Due February 23, 2032 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Long-Term Debt | $ 395.1 | |||||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Long-Term Debt | $ 144.7 | |||||
| Parent Company | ||||||
| ASSETS | ||||||
| Investments in Subsidiaries | 3,773.8 | 3,594.1 | ||||
| Fixed Maturities at Fair Value (Amortized Cost: 2024 – $0.5; 2023 - $177.4) | 0.5 | 174.3 | ||||
| Equity Securities at Fair Value (Cost: 2024 - $12.8; 2023 - $11.6) | 10.9 | 9.9 | ||||
| Short-term Investments | 453.8 | 180.2 | ||||
| Other Investments | 22.2 | 18.8 | ||||
| Cash | 2.3 | 1.5 | $ 66.3 | $ 27.7 | ||
| Other Receivables | 60.9 | 38.5 | ||||
| Current Income Taxes | 54.3 | 33.9 | ||||
| Right-of-Use Assets | 7.2 | 7.7 | ||||
| Other Assets | 13.1 | 32.5 | ||||
| Total Assets | 4,399.0 | 4,091.4 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Deferred Income Tax Liabilities | 137.0 | 119.5 | ||||
| Liabilities for Benefit Plans | 32.1 | 28.1 | ||||
| Present Value of Minimum Lease Payments | 21.3 | 23.3 | ||||
| Accrued Expenses and Other Liabilities | 28.6 | 26.3 | ||||
| Total Liabilities | 1,610.6 | 1,586.4 | ||||
| Shareholders’ Equity: | ||||||
| Common Stock | 6.4 | 6.4 | ||||
| Additional Paid-in Capital | 1,854.9 | 1,845.3 | ||||
| Retained Earnings | 1,231.6 | 1,014.3 | ||||
| Accumulated Other Comprehensive Loss | (304.5) | (360.8) | ||||
| Total Shareholders’ Equity | 2,788.4 | 2,505.2 | ||||
| Noncontrolling Interest | 0.0 | (0.2) | ||||
| Total Shareholders’ Equity | 2,788.4 | 2,505.0 | ||||
| Total Liabilities and Shareholders’ Equity | 4,399.0 | 4,091.4 | ||||
| Parent Company | Senior Notes, 4.35 Percent Due February 15, 2025 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Long-Term Debt | 449.9 | 449.6 | ||||
| Parent Company | Senior Notes, 2.400 Percent Due September 30, 2030 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Long-Term Debt | 397.5 | 397.0 | ||||
| Parent Company | Senior Notes, 3.800 Percent Due February 23, 2032 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Long-Term Debt | 396.5 | 396.0 | ||||
| Parent Company | 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Long-Term Debt | $ 147.7 | $ 146.6 |
Schedule 2 - Parent Company Financial Statements - Statements of Income (Loss) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Condensed Income Statements, Captions [Line Items] | ||||
| Net Investment Income | $ 407.5 | $ 419.7 | $ 422.6 | |
| Change in Fair Value of Equity and Convertible Securities | (2.7) | 4.7 | (79.9) | |
| Net Realized Investment Gains (Losses) | 13.2 | (18.6) | 4.3 | |
| Impairment Losses | (5.8) | (1.1) | (25.8) | |
| Other Income | 8.2 | 7.2 | 9.2 | |
| Total Revenues | 4,638.6 | 4,944.2 | 5,523.9 | |
| Interest Expense | 56.9 | 56.1 | 54.7 | |
| Total Expenses | 4,250.1 | 5,291.3 | 5,894.9 | |
| Income Tax Benefit | 76.0 | (74.8) | (84.4) | |
| Net Income (Loss) | 312.5 | (272.3) | (286.6) | |
| Less: Net Loss attributable to Noncontrolling Interest | (5.3) | (0.2) | 0.0 | |
| Net Income (Loss) attributable to Kemper Corporation | 317.8 | (272.1) | (286.6) | |
| Parent Company | ||||
| Condensed Income Statements, Captions [Line Items] | ||||
| Net Investment Income | 15.9 | 8.6 | 16.6 | |
| Change in Fair Value of Equity and Convertible Securities | (0.2) | (1.5) | (14.8) | |
| Net Realized Investment Gains (Losses) | (10.6) | (11.9) | 3.0 | |
| Impairment Losses | $ 0.0 | 0.0 | (0.4) | (0.2) |
| Other Income | 0.0 | 0.0 | 1.1 | |
| Total Revenues | 5.1 | (5.2) | 5.7 | |
| Interest Expense | 58.1 | 56.7 | 52.6 | |
| Debt Extinguishment, Pension Settlement, and Other Charges | (2.6) | 70.2 | 0.0 | |
| Other Operating Expenses | 12.7 | 6.1 | 6.6 | |
| Total Expenses | 68.2 | 133.0 | 59.2 | |
| Loss before Income Taxes and Equity in Net Income (Loss) of Subsidiaries | (63.1) | (138.2) | (53.5) | |
| Income Tax Benefit | (8.8) | (28.4) | (14.0) | |
| Loss before Equity in Net Income (Loss) of Subsidiaries | (54.3) | (109.8) | (39.5) | |
| Equity in Net Income (Loss) of Subsidiaries | 372.1 | (162.5) | (247.1) | |
| Net Income (Loss) | 317.8 | (272.3) | (286.6) | |
| Less: Net Loss attributable to Noncontrolling Interest | 0.0 | (0.2) | 0.0 | |
| Net Income (Loss) attributable to Kemper Corporation | $ 317.8 | $ (272.1) | $ (286.6) | |
Schedule 2 - Parent Company Financial Statements - Statements of Comprehensive Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Condensed Statement of Income Captions [Line Items] | |||
| Net Income (Loss) | $ 312.5 | $ (272.3) | $ (286.6) |
| Reclassification Adjustment for Postretirement Benefit Costs Arising During the Year: | |||
| Change in Discount Rate on Future Life Policyholder Benefits | 278.0 | (101.7) | 1,380.7 |
| Other Comprehensive Income (Loss) Before Income Taxes | 71.3 | 195.6 | (143.7) |
| Reclassification Adjustment for Postretirement Benefit Costs Arising During the Year: | |||
| Change in Discount Rate on Future Life Policyholder Benefits | 58.3 | (21.2) | 289.9 |
| Other Comprehensive Income Tax Expense (Benefit) | 15.0 | 41.5 | (30.4) |
| Other Comprehensive Income (Loss), Net of Taxes | 56.3 | 154.1 | (113.3) |
| Total Comprehensive Income (Loss) | 368.8 | (118.2) | (399.9) |
| Less: Total Comprehensive Loss attributable to Noncontrolling Interest | (5.3) | (0.2) | 0.0 |
| Comprehensive Income (Loss) attributable to Kemper Corporation | 374.1 | (118.0) | (399.9) |
| Subsidiaries | |||
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | |||
| Unrecognized Postretirement Benefit Costs Arising During the Year | 0.5 | 0.1 | 1.1 |
| Reclassification Adjustment for Postretirement Benefit Costs Arising During the Year: | |||
| Amortization of Accumulated Unrecognized Pension Loss | (0.3) | (0.3) | 0.0 |
| Unrecognized Gain (Loss) on Cash Flow Hedges Arising During the Year: | (6.3) | 0.0 | 0.0 |
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | |||
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | 1.8 | 1.0 | (2.7) |
| Unrecognized Postretirement Benefit Costs Arising During the Year: | 0.1 | 0.0 | 0.2 |
| Reclassification Adjustment for Postretirement Benefit Costs Arising During the Year: | |||
| Subsidiaries | 0.0 | (0.2) | 0.0 |
| Unrecognized Gain (Loss) on Cash Flow Hedges Arising During the Year: | (0.9) | 0.0 | 0.0 |
| Subsidiaries | No Credit Losses | |||
| Changes in Net Unrealized Gains (Losses) on Investment Securities: | |||
| Unrealized Holding Gains (Losses) Arising During the Period Before Reclassification Adjustment | (210.5) | 235.0 | (1,535.7) |
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | |||
| Reclassification Adjustment for Amounts Included in Net Income | 8.8 | 4.5 | (12.8) |
| Changes in Net Unrealized (Losses) Gains on Investment Securities: | |||
| Changes in Net Unrealized (Losses) Gains on Investment Securities: | (44.2) | 49.5 | (322.7) |
| Subsidiaries | Credit Losses | |||
| Changes in Net Unrealized Gains (Losses) on Investment Securities: | |||
| Unrealized Holding Gains (Losses) Arising During the Period Before Reclassification Adjustment | (0.6) | (0.5) | 1.9 |
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | |||
| Reclassification Adjustment for Amounts Included in Net Income | (0.7) | 0.0 | 0.0 |
| Changes in Net Unrealized (Losses) Gains on Investment Securities: | |||
| Changes in Net Unrealized (Losses) Gains on Investment Securities: | (0.3) | (0.2) | 0.4 |
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | |||
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | (0.3) | 0.0 | 0.0 |
| Parent Company | |||
| Condensed Statement of Income Captions [Line Items] | |||
| Net Income (Loss) | 317.8 | (272.3) | (286.6) |
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | |||
| Unrecognized Postretirement Benefit Costs Arising During the Year | 1.3 | (7.4) | 18.2 |
| Reclassification Adjustment for Postretirement Benefit Costs Arising During the Year: | |||
| Amortization of Accumulated Unrecognized Pension Loss | (2.8) | 66.8 | (0.4) |
| Reclassification Adjustment for Gain (Loss) on Cash Flow Hedges Arising During the Year: | (0.9) | 0.2 | (5.9) |
| Other Comprehensive Income (Loss) Before Income Taxes | 71.3 | 195.6 | (143.7) |
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | |||
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | 0.5 | (0.1) | 0.0 |
| Unrecognized Postretirement Benefit Costs Arising During the Year: | 0.3 | (1.3) | 3.9 |
| Reclassification Adjustment for Postretirement Benefit Costs Arising During the Year: | |||
| Subsidiaries | (0.6) | 14.0 | (0.1) |
| Parent | 0.2 | 0.1 | 1.2 |
| Other Comprehensive Income Tax Expense (Benefit) | 15.0 | 41.5 | (30.4) |
| Other Comprehensive Income (Loss), Net of Taxes | 56.3 | 154.1 | (113.3) |
| Total Comprehensive Income (Loss) | 374.1 | (118.2) | (399.9) |
| Less: Total Comprehensive Loss attributable to Noncontrolling Interest | 0.0 | (0.2) | 0.0 |
| Comprehensive Income (Loss) attributable to Kemper Corporation | 374.1 | (118.0) | (399.9) |
| Parent Company | No Credit Losses | |||
| Changes in Net Unrealized Gains (Losses) on Investment Securities: | |||
| Unrealized Holding Gains (Losses) Arising During the Period Before Reclassification Adjustment | 0.6 | (0.6) | (2.6) |
| Reclassification Adjustment for Securities Having No Credit Losses Included in Net Loss: | |||
| Reclassification Adjustment for Amounts Included in Net Income | 2.4 | (0.1) | 0.0 |
| Changes in Net Unrealized (Losses) Gains on Investment Securities: | |||
| Changes in Net Unrealized (Losses) Gains on Investment Securities: | $ 0.1 | $ (0.1) | $ (0.5) |
Schedule 2 - Parent Company Financial Statements - Statements of Cash Flows (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|||
| Cash Flows from Operating Activities: | ||||||
| Net Income (Loss) | $ 312.5 | $ (272.3) | $ (286.6) | |||
| Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (Used in) Operating Activities: | ||||||
| Cash Dividends from Subsidiaries | 213.3 | 640.9 | 311.7 | |||
| Income (Loss) from Change in Fair Value of Equity and Convertible Securities | 2.7 | (4.7) | 79.9 | |||
| Net Realized Gain on Sale of Investments | (13.2) | 18.6 | (4.3) | |||
| Impairment Losses | 5.8 | 1.1 | 25.8 | |||
| Other | 2.3 | (33.0) | (11.2) | |||
| Net Cash Provided by (Used in) Operating Activities | 382.9 | (134.2) | (210.3) | |||
| Cash Flows from Investing Activities: | ||||||
| Proceeds from the Sales, Calls and Maturities of Fixed Maturities | 1,316.5 | 673.0 | 1,295.5 | |||
| Equity Securities | 37.8 | 149.0 | 536.0 | |||
| Fixed Maturities | (1,012.5) | (447.4) | (1,815.8) | |||
| Equity Securities | (19.4) | (44.4) | (58.9) | |||
| Net Sales (Purchases) of Short-term Investments | (521.0) | (238.4) | 6.1 | |||
| Other Investments | (51.2) | (19.8) | (13.0) | |||
| Net Cash (Used in) Provided by Investing Activities | (244.4) | 107.9 | (108.4) | |||
| Cash Flows from Financing Activities: | ||||||
| Proceeds from Issuance of 5.875% Fixed-Rate Reset Junior Subordinated Debentures Due 2062 | 0.0 | 0.0 | 145.6 | |||
| Proceeds from Shares Issued under Employee Stock Purchase Plan | 3.8 | 4.3 | 4.9 | |||
| Common Stock Repurchases | (38.9) | 0.0 | 0.0 | |||
| Dividends Paid | (80.1) | (80.1) | (79.7) | |||
| Other | 4.7 | 1.9 | 0.6 | |||
| Net Cash (Used in) Provided by Financing Activities | (137.2) | (122.0) | 382.9 | |||
| Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | [1] | 1.3 | (148.3) | 64.2 | ||
| Cash, Beginning of Year | 64.1 | |||||
| Cash, End of Year | $ 64.4 | 64.4 | 64.1 | |||
| Senior Notes, 3.800 Percent Due February 23, 2032 | ||||||
| Cash Flows from Financing Activities: | ||||||
| Proceeds from Issuance of 3.800% Senior Notes due February 23, 2032 | 0.0 | 0.0 | 396.3 | |||
| Issue Fess | 0.0 | 0.0 | (1.2) | |||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | ||||||
| Cash Flows from Financing Activities: | ||||||
| Issue Fess | 0.0 | 0.0 | (0.9) | |||
| Parent Company | ||||||
| Cash Flows from Operating Activities: | ||||||
| Net Income (Loss) | 317.8 | (272.3) | (286.6) | |||
| Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (Used in) Operating Activities: | ||||||
| Equity in Net Income (Loss) of Subsidiaries | (372.1) | 162.5 | 247.1 | |||
| Cash Dividends from Subsidiaries | 245.4 | 320.8 | 25.3 | |||
| Income (Loss) from Change in Fair Value of Equity and Convertible Securities | 0.2 | 1.5 | 14.8 | |||
| Net Realized Gain on Sale of Investments | 10.6 | 11.9 | (3.0) | |||
| Settlement Costs Related to Defined Benefit Pension Plan | (2.6) | 70.2 | 0.0 | |||
| Impairment Losses | 0.0 | 0.0 | 0.4 | 0.2 | ||
| Other | 31.9 | (30.6) | (48.9) | |||
| Net Cash Provided by (Used in) Operating Activities | 231.2 | 264.4 | (51.1) | |||
| Cash Flows from Investing Activities: | ||||||
| Capital Contributed to Subsidiaries | 0.0 | (177.5) | (537.8) | |||
| Contribution to Non-Controlling Interest | (18.0) | (4.0) | 0.0 | |||
| Proceeds from the Sales, Calls and Maturities of Fixed Maturities | 35.3 | 50.8 | 0.1 | |||
| Equity Securities | 2.7 | 14.8 | 71.9 | |||
| Fixed Maturities | 0.0 | 0.0 | (40.3) | |||
| Equity Securities | (3.8) | (2.1) | (5.6) | |||
| Net Sales (Purchases) of Short-term Investments | (126.3) | (112.2) | 138.9 | |||
| Other Investments | (0.1) | (23.2) | (3.1) | |||
| Net Cash (Used in) Provided by Investing Activities | (110.2) | (253.4) | (375.9) | |||
| Cash Flows from Financing Activities: | ||||||
| Proceeds from Shares Issued under Employee Stock Purchase Plan | 3.8 | 4.3 | 4.9 | |||
| Common Stock Repurchases | (38.9) | 0.0 | 0.0 | |||
| Dividends Paid | (80.1) | (79.6) | (79.7) | |||
| Other | (5.0) | (0.5) | 0.6 | |||
| Net Cash (Used in) Provided by Financing Activities | (120.2) | (75.8) | 465.6 | |||
| Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 0.8 | (64.8) | 38.6 | |||
| Cash, Beginning of Year | 1.5 | 66.3 | 27.7 | |||
| Cash, End of Year | $ 2.3 | 2.3 | 1.5 | 66.3 | ||
| Parent Company | Senior Notes, 3.800 Percent Due February 23, 2032 | ||||||
| Cash Flows from Financing Activities: | ||||||
| Proceeds from Issuance of 3.800% Senior Notes due February 23, 2032 | 0.0 | 0.0 | 396.3 | |||
| Issue Fess | 0.0 | 0.0 | (1.2) | |||
| Parent Company | 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | ||||||
| Cash Flows from Financing Activities: | ||||||
| Issue Fess | 0.0 | 0.0 | (0.9) | |||
| Proceeds from Issuance of 5.875% Fixed-Rate Reset Junior Subordinated Debentures Due 2062 | $ 0.0 | $ 0.0 | $ 145.6 | |||
| ||||||
Schedule 2 - Parent Company Financial Statements - Narrative (Details) |
1 Months Ended | 12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
|
Mar. 10, 2022
USD ($)
deferral_period
|
Jun. 30, 2017
USD ($)
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Jul. 01, 2022
USD ($)
|
Feb. 15, 2022
USD ($)
|
Sep. 22, 2020 |
Feb. 28, 2015
USD ($)
|
|
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Guarantor obligations | $ 40,000,000 | |||||||
| Long-term Debt | 1,391,600,000 | $ 1,389,200,000 | ||||||
| Gain on derivative | $ 5,900,000 | |||||||
| Derivative, Gain, Statement of Income or Comprehensive Income [Extensible Enumeration] | (Loss) Gain on Cash Flow Hedges | |||||||
| Amortization | $ 600,000 | |||||||
| Net gain on derivative instrument | $ 500,000 | |||||||
| Senior Notes, 4.35 Percent Due February 15, 2025 | Senior Notes | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Stated interest rate, percentage | 4.35% | |||||||
| Long-term debt, gross | $ 450,000,000.0 | |||||||
| Debt instrument, face amount | $ 250,000,000.0 | |||||||
| Increase in debt instrument | $ 200,000,000.0 | |||||||
| Long-term Debt | 0 | 449,600,000 | ||||||
| Senior Notes, 2.400 Percent Due September 30, 2030 | Senior Notes | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Stated interest rate, percentage | 2.40% | |||||||
| Long-term debt, gross | 400,000,000.0 | |||||||
| Proceeds from debt, net of issuance costs | 395,800,000 | |||||||
| Debt instrument, effective interest rate | 2.52% | |||||||
| Long-term Debt | 397,500,000 | 397,000,000.0 | ||||||
| Senior Notes, 3.800 Percent Due February 23, 2032 | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Long-term Debt | $ 395,100,000 | |||||||
| Senior Notes, 3.800 Percent Due February 23, 2032 | Senior Notes | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Stated interest rate, percentage | 3.80% | |||||||
| Long-term debt, gross | 400,000,000 | |||||||
| Debt instrument, effective interest rate | 3.95% | |||||||
| Long-term Debt | 396,500,000 | 396,000,000.0 | ||||||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Long-term Debt | $ 144,700,000 | |||||||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | Senior Notes | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Long-term debt, gross | 150,000,000 | |||||||
| 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062 | Junior Debt | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Stated interest rate, percentage | 5.875% | |||||||
| Long-term Debt | 147,700,000 | 146,600,000 | ||||||
| Debt instrument, basis spread on variable rate | 4.14% | |||||||
| Interest deferrals, number of deferral periods | deferral_period | 1 | |||||||
| Interest deferrals, period (up to) | 5 years | |||||||
| Subsidiary of Common Parent | Non-cash Dividends | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Related party transaction, amounts of transaction | 0 | 385,600,000 | ||||||
| Parent Company | Non-cash Capital Contributions | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Related party transaction, amounts of transaction | $ 0 | $ 336,500,000 | ||||||
| Kemper Bermuda Ltd | ||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Guarantor obligations | $ 300,000,000 | |||||||
Schedule 2 - Parent Company Financial Statements - Right of Use Assets and Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Condensed Financial Statements, Captions [Line Items] | ||
| Operating Lease Right-of-Use Assets | $ 33.9 | $ 38.4 |
| Operating Lease Liability | 51.6 | 62.3 |
| Parent Company | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Operating Lease Right-of-Use Assets | 7.2 | 7.7 |
| Operating Lease Liability | $ 21.3 | $ 23.3 |
Schedule 2 - Parent Company Financial Statements - Supplemental Cash Flow Information (Details) - Parent Company - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Condensed Financial Statements, Captions [Line Items] | ||
| Operating Cash Flows from Operating Leases (Fixed Payments) | $ 3.0 | $ 5.8 |
| Operating Cash Flows from Operating Leases (Liability Reduction) | $ 2.1 | $ 4.8 |
Schedule 2 - Parent Company Financial Statements - Lease Weighted Average (Details) |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Condensed Financial Statements, Captions [Line Items] | ||
| Weighted-average Remaining Lease Term - Operating Leases | 4 years 6 months | 5 years 6 months |
| Weighted-average Discount Rate - Operating Leases | 4.50% | 4.30% |
| Parent Company | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Weighted-average Remaining Lease Term - Operating Leases | 9 years | 10 years |
| Weighted-average Discount Rate - Operating Leases | 4.00% | 4.10% |
Schedule 2 - Parent Company Financial Statements - Future Minimum Lease Payments (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Condensed Financial Statements, Captions [Line Items] | ||
| 2025 | $ 18.2 | |
| 2026 | 11.3 | |
| 2027 | 9.9 | |
| 2028 | 7.1 | |
| 2029 | 5.4 | |
| 2030 and Thereafter | 12.9 | |
| Total Future Payments | 64.8 | |
| Less: Discount | 13.2 | |
| Present Value of Minimum Lease Payments | 51.6 | $ 62.3 |
| Parent Company | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| 2025 | 2.6 | |
| 2026 | 2.6 | |
| 2027 | 2.7 | |
| 2028 | 2.8 | |
| 2029 | 2.8 | |
| 2030 and Thereafter | 12.1 | |
| Total Future Payments | 25.6 | |
| Less: Discount | 4.3 | |
| Present Value of Minimum Lease Payments | $ 21.3 | $ 23.3 |
Schedule 3 - Supplementary Insurance Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items] | |||
| Earned Premiums | $ 4,215.9 | $ 4,529.4 | $ 5,213.4 |
| Other Income (Loss) | 8.2 | 7.2 | 9.2 |
| Net Investment Income | 407.5 | 419.7 | 422.6 |
| Insurance Claims and Policy- holders’ Benefits | 3,013.1 | 3,820.0 | 4,432.6 |
| Amortization of Deferred Policy Acquisition Costs | 538.0 | 607.1 | 705.7 |
| Other Insurance Expenses | 642.1 | 758.5 | 698.2 |
| Deferred Policy Acquisition Costs | 630.0 | 591.6 | |
| Insurance Reserves | 5,821.0 | 6,102.9 | |
| Unearned Premiums | 1,275.3 | 1,300.8 | |
| Non-Core Operations | |||
| SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items] | |||
| Earned Premiums | 245.6 | 509.3 | 595.5 |
| Premiums Written | 108.3 | 435.5 | 527.1 |
| Other Income (Loss) | 0.0 | 0.0 | 0.0 |
| Net Investment Income | 36.4 | 48.7 | 49.7 |
| Insurance Claims and Policy- holders’ Benefits | 236.8 | 434.6 | 493.4 |
| Amortization of Deferred Policy Acquisition Costs | 31.3 | 71.0 | 93.5 |
| Other Insurance Expenses | 51.0 | 75.6 | 90.0 |
| Deferred Policy Acquisition Costs | 4.1 | 22.0 | |
| Insurance Reserves | 261.7 | 356.4 | |
| Unearned Premiums | 50.3 | 188.7 | |
| Corporate and Other | |||
| SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items] | |||
| Earned Premiums | 0.0 | 0.0 | 0.0 |
| Other Income (Loss) | 3.0 | 2.9 | 3.8 |
| Net Investment Income | 10.9 | 9.3 | 15.7 |
| Insurance Claims and Policy- holders’ Benefits | 0.1 | 0.1 | 0.2 |
| Amortization of Deferred Policy Acquisition Costs | 0.0 | 0.0 | 0.0 |
| Other Insurance Expenses | 66.2 | 201.9 | 75.2 |
| Deferred Policy Acquisition Costs | 0.0 | 0.0 | |
| Insurance Reserves | 9.0 | 12.5 | |
| Unearned Premiums | 0.0 | 0.0 | |
| Specialty Property & Casualty Insurance | Operating Segments | |||
| SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items] | |||
| Earned Premiums | 3,576.4 | 3,632.5 | 4,046.4 |
| Premiums Written | 3,685.4 | 3,305.4 | 3,934.4 |
| Other Income (Loss) | 4.7 | 4.5 | 6.0 |
| Net Investment Income | 189.6 | 168.3 | 140.7 |
| Insurance Claims and Policy- holders’ Benefits | 2,541.7 | 3,141.9 | 3,578.2 |
| Amortization of Deferred Policy Acquisition Costs | 474.1 | 496.2 | 569.8 |
| Other Insurance Expenses | 285.4 | 245.1 | 232.1 |
| Deferred Policy Acquisition Costs | 162.8 | 142.7 | |
| Insurance Reserves | 2,347.9 | 2,308.7 | |
| Unearned Premiums | 1,216.8 | 1,104.5 | |
| Life Insurance | Operating Segments | |||
| SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items] | |||
| Earned Premiums | 393.9 | 387.6 | 571.5 |
| Other Income (Loss) | 0.5 | (0.2) | (0.6) |
| Net Investment Income | 170.6 | 193.4 | 216.5 |
| Insurance Claims and Policy- holders’ Benefits | 234.5 | 243.4 | 360.8 |
| Amortization of Deferred Policy Acquisition Costs | 32.6 | 39.9 | 42.4 |
| Other Insurance Expenses | 239.5 | 235.9 | $ 300.9 |
| Deferred Policy Acquisition Costs | 463.1 | 426.9 | |
| Insurance Reserves | 3,202.4 | 3,425.3 | |
| Unearned Premiums | $ 8.2 | $ 7.6 | |
Schedule 4 - Reinsurance Schedule (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|||
| Life Insurance in Force | |||||
| Gross Amount | $ 19,651.3 | $ 19,750.8 | $ 19,885.1 | ||
| Ceded to Other Companies | 322.5 | 339.4 | 354.8 | ||
| Assumed from Other Companies | 123.6 | 129.9 | 137.1 | ||
| Net Amount | $ 19,452.4 | $ 19,541.3 | $ 19,667.4 | ||
| Percentage of Amount Assumed to Net | 0.60% | 0.70% | 0.70% | ||
| Premiums | |||||
| Gross Amount | $ 4,238.5 | $ 4,532.4 | $ 5,229.8 | ||
| Ceded to Other Companies | 33.1 | 32.7 | 42.7 | ||
| Assumed from Other Companies | 10.5 | 29.7 | 26.3 | ||
| Net Amount | [1] | $ 4,215.9 | $ 4,529.4 | $ 5,213.4 | |
| Percentage of Amount Assumed to Net | 0.20% | 0.70% | 0.50% | ||
| Life Insurance | |||||
| Premiums | |||||
| Gross Amount | $ 330.7 | $ 322.0 | $ 355.8 | ||
| Ceded to Other Companies | 3.1 | 3.3 | 3.6 | ||
| Assumed from Other Companies | 0.5 | 0.5 | 0.6 | ||
| Net Amount | $ 328.1 | $ 319.2 | $ 352.8 | ||
| Percentage of Amount Assumed to Net | 0.20% | 0.20% | 0.20% | ||
| Accident and Health Insurance | |||||
| Premiums | |||||
| Gross Amount | $ 34.7 | $ 34.7 | $ 167.9 | ||
| Ceded to Other Companies | 12.5 | 11.6 | 1.1 | ||
| Assumed from Other Companies | 0.0 | 0.0 | 1.4 | ||
| Net Amount | $ 22.2 | $ 23.1 | $ 168.2 | ||
| Percentage of Amount Assumed to Net | 0.00% | 0.00% | 0.80% | ||
| Property and Liability Insurance | |||||
| Premiums | |||||
| Gross Amount | $ 3,873.1 | $ 4,175.7 | $ 4,706.1 | ||
| Ceded to Other Companies | 17.5 | 17.8 | 38.0 | ||
| Assumed from Other Companies | 10.0 | 29.2 | 24.3 | ||
| Net Amount | $ 3,865.6 | $ 4,187.1 | $ 4,692.4 | ||
| Percentage of Amount Assumed to Net | 0.30% | 0.70% | 0.50% | ||
| |||||