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Jun 30, 2024
Kemper Q2 2024 Earnings Report
Kemper reported improved profitability and sequential growth in policies-in-force.
Key Takeaways
Kemper Corporation reported a net income of $75.4 million for the second quarter of 2024, a significant improvement compared to the net loss of $97.1 million in the same quarter of the previous year. The adjusted consolidated net operating income was $91.7 million, compared to a loss of $14.2 million in Q2 2023. Key highlights include improved profitability, a better underlying combined ratio in the Specialty P&C segment, and sequential growth in policies-in-force.
Profitability continued to improve sequentially, generating an 11.5% ROE and a 17.6% Adjusted ROE.
Specialty P&C underlying combined ratio improved 4.0 points sequentially to 89.6%, a 12.4 point improvement over 2Q’23.
Specialty P&C achieved 4.6% sequential quarter PIF growth.
Underlying business fundamentals in the Life business remain stable.
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
This press release may contain or incorporate by reference information that includes or is based on forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially.
Challenges Ahead
- changes in the frequency and severity of insurance claims;
- claim development and the process of estimating claim reserves;
- the impacts of inflation;
- changes in the interest rate environment;
- supply chain disruption;
Revenue & Expenses
Visualization of income flow from segment revenue to net income