Kemper Stock Price, News & Analysis

Kemper Corporation (NYSE: KMPR) has successfully completed the sale of Reserve National Insurance Company and its subsidiaries to Medical Mutual of Ohio, following necessary regulatory approvals. The transaction provides Kemper with approximately $88 million in cash. CEO Joseph P. Lacher, Jr. stated this marks a significant step in Kemper's strategic initiatives, allowing them to concentrate on core capabilities and enhance stakeholder value. With about $13 billion in assets, Kemper continues to serve over six million policies across its various insurance brands.

The Kemper Foundation has opened its spring 2023 grant cycle for the Read Conmigo bilingual educator program, now available in Dallas, Los Angeles, and Miami. The initiative offers up to 100 grants of $3,000 each to teachers in Spanish-English bilingual classrooms, aimed at enhancing bilingual literacy. The application deadline is November 27, 2022, and funds will be awarded in February 2023. The program reflects the Foundation's commitment to supporting education across the nation.

Kemper Corporation (NYSE: KMPR) reported a net loss of $76.2 million, or $(1.19) per diluted share, for Q3 2022, slightly worse than the $75.3 million loss in Q3 2021. Adjusted losses were $72.7 million, compared to $68.6 million in the prior year. The results included an $8.8 million loss from equity securities and catastrophe losses of $27 million, primarily from Hurricane Ian. Despite a decrease in total revenues to $1.38 billion (down 5%), specialty auto profitability improved with net written premiums in commercial vehicles growing 34%. The company announced strategic initiatives to strengthen operations and declared a dividend of $0.31 per share.

Kemper Corporation (NYSE: KMPR) has declared a quarterly dividend of $0.31 per share, payable on December 1, 2022, to shareholders of record as of November 15, 2022. With approximately $13 billion in assets, Kemper provides specialized insurance solutions across various sectors, serving over 6.0 million policies through around 33,500 agents and brokers. The company is committed to meeting the evolving needs of its customers with a workforce of approximately 10,100 associates.

Kemper Corporation (NYSE: KMPR) will release its third quarter 2022 earnings on November 2, 2022. Anticipated pre-tax catastrophe losses due to Hurricane Ian are estimated between $25 million and $30 million, with no expected recovery from reinsurance. The company does not forecast any adverse prior year development. Post-release, the earnings call is scheduled for 5:00 p.m. Eastern on the same day, accessible via phone or webcast. Kemper serves over 6.2 million policies and has approximately $14 billion in assets.

The Kemper Foundation has awarded $150,000 in grants to support bilingual educators in the Greater Los Angeles area as part of its new Read Conmigo program. A total of 50 educators received $3,000 each for resources and professional development aimed at enhancing bilingual literacy skills for Latino students. This initiative reflects the Foundation's commitment to improving education through substantial annual funding, with plans to expand the program to additional markets in the U.S. in the future.

AM Best has downgraded the Financial Strength Rating (FSR) of Kemper Corp.'s property/casualty and life/health subsidiaries to A- (Excellent) from A (Excellent), and the Long-Term Issuer Credit Ratings to 'a-' (Excellent) from 'a' (Excellent). This decision reflects prolonged earnings deterioration due to inflation and supply chain issues, particularly affecting Kemper P&C's operations in California. However, the outlook for Kemper Corp. has been revised to stable from negative. Additionally, Kemper is set to sell Reserve National Insurance Company for $90 million, pending regulatory approval.

Kemper Corporation (NYSE: KMPR) has declared a quarterly dividend of $0.31 per share, payable on August 29, 2022, to shareholders of record as of August 15, 2022. With approximately $14 billion in assets, Kemper offers personalized insurance solutions through its various brands, covering over 6.2 million policies. The company is committed to meeting the needs of its customers with a dedicated workforce of around 10,400 associates.

Kemper Corporation (NYSE: KMPR) reported a net loss of $74.7 million for Q2 2022, worsening from a $62.6 million loss in Q2 2021. Adjusted for acquisitions, the loss was $71.3 million, compared to $52.5 million last year. Major factors included a $32 million after-tax loss from equity and convertible securities. Despite lower revenues by 5% to $1.43 billion, the company experienced a 42% year-over-year growth in commercial vehicle premiums. Kemper declared a $0.31 dividend per share, indicating commitment to shareholder returns.