Kemper Corp (KMPR) 10K Annual Reports & 10Q SEC Filings

— Kemper Corporation (NYSE: KMPR) reported a net loss of $55.5 million, or $(0.87) per diluted share, for the fourth quarter of 2022, compared to a net loss of $105.8 million, or $(1.66) per diluted share, for the fourth quarter of 2021. As Adjusted for Acquisitions1 of American Access Casualty Company (“AAC”) and Infinity Property and Casualty Corporation, the net loss was $52.5 million, or $(0.82) per diluted share, for the fourth quarter of 2022, compared to a net loss of $101.3 million, or $(1.59) per diluted share, for the fourth quarter of 2021.

Adjusted Consolidated Net Operating Loss1 was $26.6 million, or $(0.41) per diluted share, for the fourth quarter of 2022, compared to Adjusted Consolidated Net Operating Loss1 of $130.8 million, or $(2.05) per diluted share, for the fourth quarter of 2021.

Key themes of the quarter include:

•Focus remains on restoring profitability; actions taken earning in at an accelerated rate

•Higher seasonality and modest current year prior quarter reserve development impacted results

•Rate-taking activities continue ahead of schedule:

◦Specialty P&C Personal Auto - Filed an additional 20% increase on 58% of the book

◦Preferred P&C Personal Auto - Filed an additional 16% increase on 15% of the book

•Continued strong profitable growth momentum in Commercial Vehicle, net written premiums grew 33% year-over-year

•Improving Life profitability as mortality continues to moderate

•Strategic initiatives announced to reduce costs and enhance our capabilities are on track

◦Submitted initial filing with the Illinois Department of Insurance with respect to reciprocal’s formation

◦Restructuring program run rate savings of $61 million to date

◦Completed the divestiture of Reserve National Insurance Company and its subsidiaries—otherwise known as Kemper Health

•Declared dividend of $0.31 per share

“In the fourth quarter we demonstrated continuing improvement in the underlying profitability of our core businesses masked by a few infrequent items that impacted financial results. I am confident in the accelerating path of our return to profitability,” said Joseph P. Lacher, Jr., President, CEO and Chairman. “Our rate and non-rate actions, cost structure measures, and improving profitability in our Life business are each earning in at an accelerating rate. The strength of Kemper’s differentiated capabilities, market focus, and enhancement initiatives position the company to provide attractive near- and long-term returns to shareholders."

1 Non-GAAP financial measure. All Non-GAAP financial measures are denoted with footnote 1 throughout this release. See “Use of Non-GAAP Financial Measures” for additional information.

The following information was filed by Kemper Corp (KMPR) on Thursday, February 2, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Kemper Corp provided additional information to their SEC Filing as exhibits

Exhibit 4.8: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.32: Material Contract

Exhibit 10.33: Material Contract

Exhibit 10.34: Material Contract

Exhibit 10.35: Material Contract

Exhibit 10.36: Material Contract

Exhibit 10.37: Material Contract

Exhibit 10.38: Material Contract

Exhibit 18.1: Letter Regarding Change In Accounting Principles

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: KMPR
CIK: 860748
Form Type: 10-K Annual Report
Accession Number: 0000860748-23-000056
Submitted to the SEC: Thu Feb 09 2023 4:04:04 PM EST
Accepted by the SEC: Thu Feb 09 2023
Period: Saturday, December 31, 2022
Industry: Fire Marine And Casualty Insurance