Exhibit 99.1
 


 
kemperlogocolorwebfinala05.jpg
Kemper Corporation
200 East Randolph Street
Suite 3300
Chicago, IL 60601
kemper.com

 
 
 
 
Press Release
 
Kemper Reports Strong Fourth Quarter and Full Year 2019 Operating Results
CHICAGO, February 10, 2020 Kemper Corporation (NYSE: KMPR) reported net income of $124.7 million, or $1.85 per diluted share, for the fourth quarter of 2019, compared to $6.5 million, or $0.10 per diluted share, for the fourth quarter of 2018. In the fourth quarter of 2019, net income included a $30.9 million after-tax gain, or $0.46 per diluted share, attributable to the change in fair value of equity and convertible securities. As adjusted for the acquisition of Infinity Property and Casualty Corporation (“as adjusted”)1, net income was $129.1 million, or $1.92 per diluted share, for the fourth quarter of 2019, compared to $27.0 million, or $0.41 per diluted share, for the fourth quarter of 2018.
Adjusted consolidated net operating income1 was $97.9 million, or $1.45 per diluted share, for the fourth quarter of 2019, compared to $59.9 million, or $0.91 per diluted share, for the fourth quarter of 2018. These results increased primarily from the continued profitable growth in the Specialty Property & Casualty Insurance segment and Life & Health earnings.
Highlights of the quarter include:
Consolidated earned premiums increased by 8 percent, or $82.2 million in the quarter
Specialty Property & Casualty Insurance segment’s earned premiums increased by 11 percent, or $81.9 million in the quarter

“This quarter was highlighted by continued strength of earnings, strong underlying profitability, and industry-leading growth in our Specialty Auto segment,” said Joseph P. Lacher, Jr., president and CEO. “In addition, our recent dividend increase and ratings agency recognitions are further evidence of the strength and performance of our business model and balance sheet.”

 
 
Three Months Ended
 
Year Ended
(Dollars in Millions, Except Per Share Amounts) (Unaudited)
 
Dec 31,
2019
 
Dec 31,
2018
 
Dec 31,
2019
 
Dec 31,
2018
Net Income
 
$
124.7

 
$
6.5

 
$
531.1

 
$
190.1

Income from Continuing Operations
 
$
124.7

 
$
5.0

 
$
531.1

 
$
188.4

Adjusted Consolidated Net Operating Income1
 
$
97.9

 
$
59.9

 
$
418.3

 
$
258.4

 
 
 
 
 
 
 
 
 
Impact of Catastrophe Losses and Related Loss Adjustment Expense (LAE) on Net Income
 
$
(12.8
)
 
$
(19.5
)
 
$
(61.0
)
 
$
(75.8
)
 
 
 
 
 
 
 
 
 
Diluted Net Income Per Share From:
 
 
 
 
 
 
 
 
Net Income
 
$
1.85

 
$
0.10

 
$
7.96

 
$
3.22

Income from Continuing Operations
 
$
1.85

 
$
0.08

 
$
7.96

 
$
3.19

Adjusted Consolidated Net Operating Income1
 
$
1.45

 
$
0.91

 
$
6.27

 
$
4.37

 
 
 
 
 
 
 
 
 
Impact of Catastrophe Losses and Related LAE on Net Income Per Share
 
$
(0.19
)
 
$
(0.30
)
 
$
(0.91
)
 
$
(1.30
)

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 Monday, February 10, 2020 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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