AM Best Upgrades Ratings of Kemper Corporation, Its Subsidiaries and Affiliates

Rhea-AI Summary

Kemper Corporation (NYSE: KMPR) announced an upgrade in its Financial Strength Rating (FSR) from A- to A (Excellent) by AM Best for its property/casualty and life/health subsidiaries. The Long-Term Issuer Credit Ratings were also improved, from 'a-' to 'a' for the subsidiaries and from 'bbb-' to 'bbb' for Kemper Corporation and Infinity Property and Casualty Corporation. The outlook for these ratings has been changed to stable. This upgrade reflects Kemper's strong balance sheet, adequate operating performance, and effective risk management.

Positive

• AM Best upgraded Financial Strength Rating from A- to A (Excellent).
• Long-Term Issuer Credit Ratings improved from 'a-' to 'a'.
• Strengthened balance sheet categorized as strongest.
• Reflects adequate operating performance and effective risk management.

Negative

• Outlook for Credit Ratings revised to stable from positive.

Kemper Corporation (NYSE: KMPR) announced today that AM Best has upgraded the Financial Strength Rating (FSR) for its property/casualty subsidiaries and affiliated insurance companies to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” from “a-.”

AM Best also upgraded the FSR of Kemper’s life/health subsidiaries to A (Excellent) from A- (Excellent) and the Long-Term ICRs to “a” from “a-.”

In addition, AM Best has upgraded the Long-Term ICR and the Long-Term Issue Credit Ratings (Long-Term IR) of Kemper Corporation and Infinity Property and Casualty Corporation (Infinity) to “bbb” from “bbb-.”

The outlooks of these Credit Ratings have been revised to stable from positive.

AM Best cited Kemper’s balance sheet strength, which it categorized as strongest, adequate operating performance, a neutral business profile, and appropriate risk management.

“We are pleased that AM Best recognizes the strength of our businesses and the ongoing progress we’ve made,” said Joseph P. Lacher, Jr., president and CEO. “This is further recognition of our strong operating performance and the work we’ve done to advance our strategic intent to serve growing niche and underserved markets with appropriate and affordable insurance and financial solutions.”

About Kemper

Kemper Corporation (NYSE: KMPR) is one of the nation’s leading specialized insurers. With nearly $14.1 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Auto, Personal Insurance, Life and Health brands. Kemper serves over 6.2 million policies, is represented by more than 30,000 agents and brokers, and has over 9,500 associates dedicated to meeting the ever-changing needs of its customers.

Learn more about Kemper.

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FAQ

What is the recent rating upgrade for Kemper Corporation (KMPR)?

AM Best upgraded Kemper's Financial Strength Rating from A- to A (Excellent) and Long-Term Issuer Credit Ratings from 'a-' to 'a'.

What does the upgrade in ratings mean for KMPR shareholders?

The upgrades indicate improved financial stability and strength of Kemper's subsidiaries, which may positively influence shareholder confidence.

What was cited as the reason for the AM Best's rating upgrades for KMPR?

AM Best cited Kemper's strong balance sheet, adequate operating performance, and effective risk management.

How has the outlook for Kemper's ratings changed?

The outlook for Kemper's Credit Ratings has been revised to stable from positive.

Which subsidiaries of Kemper received upgraded ratings?

Both property/casualty and life/health subsidiaries received upgrades in their Financial Strength Ratings.