Kemper Corp 10-K Report Highlights Financial Performance

By Tamara Parker • Saturday, February 08 10:16 • Permanent Link

Kemper Corporation recently released its 10-K report, detailing its financial performance and operational outlook. Kemper is a diversified insurance holding company that provides insurance products to individuals and businesses in the United States. The company operates through three segments: Specialty Property & Casualty Insurance, Preferred Property & Casualty Insurance, and Life & Health Insurance. It offers a range of insurance products, including automobile, homeowners, renters, fire, umbrella, general liability, life, and health insurance, distributed through independent agents and brokers.

In its 10-K report, Kemper discussed its financial condition and results of operations in Item 7. The company presented non-GAAP financial measures, including Adjusted Consolidated Net Operating Income (Loss), to provide investors with a better understanding of its ongoing performance. For the year ended December 31, 2024, Kemper reported a Net Income attributable to Kemper Corporation of $317.8 million, compared to a Net Loss of $272.1 million for the previous year. The company's Adjusted Consolidated Net Operating Income increased by $428.7 million in 2024, primarily driven by an improvement in the Specialty Property & Casualty Insurance segment profitability.

Kemper also provided a breakdown of its revenues, showing a decrease in total revenues to $4,638.6 million in 2024 from $4,944.2 million in 2023. This decrease was mainly attributed to a reduction in earned premiums, particularly from the Non-Core Operations segment. The company's net investment income decreased, while net realized investment gains increased in 2024 compared to the previous year.

The report also highlighted the impact of catastrophes on Kemper's operations, emphasizing the inherent risks of the property and casualty insurance business. The number of ISO-classified catastrophic events and catastrophe losses were detailed, providing insight into the company's exposure to such events.

Following these announcements, the company's shares moved -1.8%, and are now trading at a price of $68.22. Check out the company's full 10-K submission here.

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