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Kemper Corporation (NYSE: KMPR) is a diversified insurance holding company operating in the United States. It specializes in providing affordable and personalized insurance solutions through its subsidiaries, focusing on both personal and commercial lines. The company offers a range of products, including automobile insurance, life insurance, and supplemental health insurance, distributed through independent agents, brokers, and career agents.
- Specialty Property & Casualty Insurance - Offers specialty automobile insurance, commercial automobile insurance, and fire/contents insurance for individuals and businesses, primarily distributed through independent agents and brokers.
- Life & Health Insurance - Provides individual life insurance, including permanent, term, and guaranteed issue policies, as well as supplemental accident and health insurance, distributed through career agents.
- Preferred Property & Casualty Insurance - Includes preferred automobile insurance, homeowners insurance, and other personal insurance, now categorized under Non-Core Operations following the company's exit from this business.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Joseph P. Lacher ExecutiveBoard | President & Chief Executive Officer | Board of Directors, American Property Casualty Insurance Association; Board of Trustees, Field Museum | Joseph P. Lacher, Jr. has served as the CEO of Kemper Corporation since 2015 and as Chairman of the Board since 2021. He has extensive experience in the insurance industry, having previously held key leadership roles at Allstate Protection and Travelers. | View Report → |
Bradley T. Camden Executive | Executive Vice President and Chief Financial Officer (CFO) | Bradley T. Camden has been serving as the Executive Vice President and Chief Financial Officer (CFO) at KMPR since February 12, 2024. Previously, he served as Senior Vice President and Treasurer starting in 2020 and was appointed Interim CFO in September 2023. | ||
C. Thomas Evans Executive | Executive Vice President, Secretary, and General Counsel | C. Thomas Evans, Jr. is the Executive Vice President, Secretary, and General Counsel at Kemper Corporation since May 2015 and has been with the company since 1992. Prior to this, he held various leadership roles in the company and practiced at Winston & Strawn focusing on corporate and commercial litigation. | ||
Charles T. Brooks Executive | Executive Vice President, Operations and Systems | Charles T. Brooks has served as the Executive Vice President, Operations and Systems at KMPR since March 2017 after joining as Senior Vice President and Chief Information Officer in May 2016, and he has held various senior roles at ACE Limited, Aetna, Travelers, and Accenture. | ||
Christopher W. Flint Executive | Executive Vice President and President of Kemper Life | Christopher W. Flint has served as Executive Vice President and President of Kemper Life since August 2023. He brings over 25 years of experience in the life insurance and financial services industry, having held senior positions at various companies. | ||
Duane A. Sanders Executive | Executive Vice President and Chief Claims Officer, P&C | Duane A. Sanders is the Executive Vice President and Chief Claims Officer, P&C at KMPR since 2024. Previously, he served as Executive Vice President and President, Property & Casualty Division starting January 2018. | ||
Ismat Duckson Aziz Executive | Executive Vice President, Chief Human Resources Officer, and Chief Administrative Officer | Ismat Duckson Aziz is the Executive Vice President, Chief Human Resources Officer, and Chief Administrative Officer at Kemper Corporation since December 2020. She has extensive experience in human resources, having held senior roles at U.S. Bank, Sprint Corporation, Wal-Mart Stores, Sears Canada Inc., and MDS Pharmaceuticals. | ||
John M. Boschelli Executive | Executive Vice President and Chief Investment Officer | John M. Boschelli has been with KMPR since December 1997 and has served as the Executive Vice President and Chief Investment Officer since May 2009. He previously held the roles of Treasurer from February 2002 to May 2009 and Assistant Treasurer from December 1999 to February 2002. | ||
Matthew A. Hunton Executive | Executive Vice President and President of Kemper Auto | Matthew A. Hunton currently serves as Executive Vice President and President of Kemper Auto since November 2022. He joined Kemper in 2019 and has led key strategic initiatives to drive profitability at the company. |
- Given that California still represents a substantial portion of your Specialty Auto business mix despite diversification efforts, how do you plan to further reduce any overconcentration risk, and what specific targets do you have for shifting the geographic mix?
- Your sequential quarter PIF growth in Q4 was modest at 1.8%, yet you expect significantly higher growth in upcoming quarters; can you clarify the drivers behind this seasonal inconsistency and how they will translate into improved year-over-year performance?
- With California’s regulatory changes leading to a 30% increase in minimum limit policies, can you quantify the potential margin impact, and detail your strategy to manage any volatility arising from these rate adjustments?
- In light of the $1.9 million adverse development noted in your Commercial Auto reserves, do you foresee further reserve adjustments, and how might these affect overall underwriting profitability going forward?
- As you continue to navigate a hard market in California marked by price volatility and increased shopping activity, what specific competitive initiatives are you implementing to maintain your favorable combined ratios without compromising long-term margin stability?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
American Access Casualty Company (AAC) | 2021 | Kemper Corporation acquired AAC and its related captive agency, Newins Insurance Agency Holdings, LLC, for approximately $370 million in cash, with the deal announced in November 2020 and completed on April 1, 2021. This acquisition expanded Kemper’s specialty auto franchise with enhanced geographic reach, distribution channels, and increased exposure in the Hispanic market, while also including key assets like goodwill and various intangible assets. |
Recent press releases and 8-K filings for KMPR.
- Kemper’s CEO and CFO detailed a strong turnaround in 2024, driven by rate increases in California (55% of auto premiums) and disciplined underwriting, setting the stage for robust premium growth in 2025.
- The management explained that the current underwriting approach and pace of new business expansion are effectively absorbing the new business penalty, maintaining attractive combined ratios near 93%.
- The company highlighted its strong balance sheet with over $1 billion in liquidity, a $450 million debt repayment in February 2025, and approximately $40 million in stock buybacks.
- Kemper’s Life business was noted as a core, stable performer that contributes consistent cash flows and strong ROE, while investment portfolio adjustments are expected to boost net investment income.
- Kemper delivered strong Q4 2024 performance with net income of $97.4 million , earnings of $1.51 per diluted share, and adjusted operating income of $115.1 million .
- The Specialty P&C (including Specialty Auto P&C) segment outperformed with an underlying combined ratio of 91.7% and achieved notable policy in-force (PIF) growth, reversing its typical seasonal decline .
- The company maintained robust financial flexibility with $1.3 billion in liquidity and enhanced capital returns by repurchasing $14 million of stock .
- Kemper increased its quarterly dividend to $0.31 per share and advanced plans to retire $450 million in debt, reinforcing its balance sheet .
- These results represent a significant improvement over Q4 2023 and support strong annual performance .