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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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