Kemper Corporation - KMPR STOCK NEWS

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.

Kemper Corporation has received significant credit rating upgrades from AM Best. The Financial Strength Rating (FSR) of its property/casualty subsidiaries has been upgraded to A (Excellent) from A-. Similarly, the Long-Term Issuer Credit Ratings (Long-Term ICR) have improved from a- to a. Kemper's life/health subsidiaries received the same upgrades. These changes reflect strong risk-adjusted capitalization and favorable operating performance despite dividend payments that have decreased policyholders' surplus. The overall outlook for these ratings has been revised to stable from positive.

Kemper Corporation (NYSE: KMPR) will release its fourth quarter 2020 earnings after market close on February 1, 2021. An annual report on Form 10-K is expected to be filed with the SEC around February 10, 2021. A conference call to discuss these results will take place the same day at 5:00 p.m. Eastern, accessible via telephone and online. Kemper, with nearly $14.1 billion in assets, serves over 6.2 million policies, supported by more than 30,000 agents and brokers.

Kemper Corporation (NYSE: KMPR) announced Ismat Aziz as the new Chief Human Resources Officer and Chief Administrative Officer. Reporting to CEO Joseph P. Lacher, Jr., Aziz will oversee key areas including compensation, talent acquisition, and diversity initiatives. With over 25 years in HR, her prior experience includes roles at U.S. Bank and Sprint. Her appointment follows the retirement of Christine Mullins, who will remain with Kemper on special projects. Kemper, with $14.1 billion in assets, provides personalized insurance solutions to over 6.3 million policies.

Kemper Corporation (NYSE: KMPR) has appointed Tim Stonehocker as President of Kemper Life, effective immediately. Reporting to Erich Sternberg, he brings over 30 years of insurance experience, including key roles at Aegon Americas and Ameritas Life Insurance Corp. Sternberg emphasized that Stonehocker's expertise in distribution networks and profitable growth will be vital for Kemper Life's strategic goals. Kemper, with $14.1 billion in assets, aims to provide tailored insurance solutions across various segments, serving over 6.3 million policies through its extensive agent network.

AM Best has affirmed the Long-Term Issuer Credit Rating of 'bbb-' for Kemper Corporation (KMPR) and a Financial Strength Rating of A- for its subsidiaries. The ratings are unchanged despite Kemper's announcement of its acquisition of American Access Casualty Company for $370 million in cash. This acquisition aims to grow Kemper's specialty auto net premiums by over 10% and enhance its presence in Hispanic communities. The outlook for Kemper's credit ratings remains positive, with financial metrics expected to stay within AM Best's guidelines.

Kemper Corporation (NYSE: KMPR) has declared a quarterly dividend of $0.30 per share, payable on December 2, 2020 to shareholders recorded as of November 16, 2020. With $14.1 billion in assets, Kemper serves over 6.3 million policies and operates across various insurance domains including Auto, Personal Insurance, Life, and Health. The company is dedicated to providing affordable and personalized insurance solutions through a vast network of more than 30,000 agents and 9,300 associates.

Kemper Corporation (NYSE: KMPR) reported a net income of $122.3 million or $1.83 per diluted share for Q3 2020, down from $129.0 million or $1.91 in Q3 2019. The results include an after-tax gain of $35.7 million due to fair value changes in securities. Adjusted operating income was $90.9 million, compared to $130.0 million in the previous year. Specialty P&C premiums rose by $88 million. Despite challenges, Kemper's capital position remains robust with total shareholders' equity at $4.35 billion, reflecting a 9% increase year-to-date.

Kemper Corporation (NYSE: KMPR) announced the election of former USAA CEO Stuart Parker to its board of directors. Parker brings over 21 years of insurance industry experience, including previous roles as COO and CFO at USAA. His appointment expands Kemper's board to 11 directors, enhancing its operational knowledge and strategic direction. Chairman Robert J. Joyce and CEO Joseph P. Lacher, Jr. emphasized Parker's leadership and expertise in advancing customer service, product development, and digital innovation as vital for Kemper's growth.