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Mar 31, 2024
Kemper Q1 2024 Earnings Report
Kemper reported improved profitability and exceeded target returns in Specialty P&C business. The company focused on stabilizing policy in force levels and expanding new business availability.
Key Takeaways
Kemper Corporation reported a net income of $71.3 million for Q1 2024, a significant improvement compared to the net loss of $80.1 million in Q1 2023. Adjusted consolidated net operating income was $69.7 million, compared to a loss of $55.7 million in the same period last year. The Specialty P&C underlying combined ratio improved to 93.6%, and parent liquidity remained strong at $1.1 billion.
Profitability improved sequentially, generating an 11.2% ROE and a 17.2% Tangible ROE.
Specialty P&C underlying combined ratio improved 4.6 points sequentially to 93.6%, a 14.4 point improvement over 1Q’23.
Life business continues to produce stable earnings.
Parent liquidity remains strong at $1.1 billion; insurance companies remain well capitalized.
Kemper
Kemper
Kemper Revenue by Segment
Revenue by Segment
Specialty P&C Insurance Revenue
CapyFin.comLife Insurance Revenue
CapyFin.comNon-Core Operations Revenue
CapyFin.com Forward Guidance
Kemper is focused on stabilizing policy in force levels, further expanding new business availability, and delivering on ROE commitments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income