v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows From Operating Activities    
Net income $ 186.8 $ 128.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized and unrealized investment (gains) losses 2.5 18.1
Net amortization and depreciation (1.8) (1.1)
Stock-based compensation expense 6.6 6.6
Amortization of defined benefit plan costs 1.7 1.6
Deferred income tax expense (benefit) (1.3) 1.9
Change in deferred acquisition costs 12.2 5.9
Change in premiums receivable, net of reinsurance premiums payable 3.6 (0.1)
Change in loss, loss adjustment expense and unearned premium reserves 116.8 122.9
Change in reinsurance recoverable (40.6) (39.7)
Change in expenses and taxes payable (167.7) (167.3)
Other, net 0.0 (38.1)
Net cash provided by operating activities 118.8 38.9
Cash Flows From Investing Activities    
Proceeds from disposals and maturities of fixed maturities 631.2 696.6
Proceeds from disposals of equity securities and other investments 38.3 20.5
Purchase of fixed maturities (1,146.9) (806.9)
Purchase of equity securities and other investments (12.9) (20.7)
Capital expenditures (3.5) (1.8)
Net cash used in investing activities (493.8) (112.3)
Cash Flows From Financing Activities    
Proceeds from exercise of employee stock options 3.9 6.8
Dividends paid to shareholders (33.5) (32.4)
Repayment of debt (375.0) 0.0
Repurchases of common stock (86.9) (11.0)
Other financing activities (13.1) (10.9)
Net cash used in financing activities (504.6) (47.5)
Net change in cash and cash equivalents (879.6) (120.9)
Net change in cash related to discontinued operations 0.4 0.5
Cash and cash equivalents, beginning of period 1,122.7 435.5
Cash and cash equivalents, end of period $ 243.5 $ 315.1