Kemper Corporation - KMPR STOCK NEWS

The Kemper Foundation has awarded grants to 15 bilingual literacy teachers in the greater Los Angeles area as part of its Read Conmigo program. This initiative aims to enhance bilingual literacy skills and improve educational opportunities for Latino and Hispanic students. Each selected teacher receives a grant of $3,000 for educational resources. The program has expanded since its inception in 2022, and a total of 100 grants are expected to be awarded annually, with 65 grants given to LA-area teachers to date. The foundation emphasizes its commitment to supporting bilingual educators and improving outcomes for students in bilingual classrooms.

Kemper Corporation (NYSE: KMPR) reported a net loss of $55.5 million, or $(0.87) per diluted share, for Q4 2022, an improvement from a $105.8 million loss in Q4 2021. Adjusted for acquisitions, the loss was $52.5 million. Total revenues decreased by $117.2 million (8%) to $1.377 billion, driven by lower premiums across segments. Net investment income fell by $2.1 million. Notably, commercial vehicle premiums grew 33% year-over-year, and life insurance performance improved due to moderating mortality rates. Kemper declared a dividend of $0.31 per share, maintaining its commitment to shareholders.

Kemper Corporation (NYSE: KMPR) announced the election of Alberto J. Paracchini as a Director, effective February 1, following Robert J. Joyce's decision to retire at the end of his term on May 4, 2023. Paracchini, with nearly 20 years in financial services, is currently CEO of Byline Bank and has experience in various financial roles. His election expands Kemper's board to 12 members, with 10 being independent. Joyce praised the leadership and strategic direction of Kemper during his tenure on the board since August 2012, expressing confidence in the company's future.

Kemper Corporation (NYSE: KMPR) has declared a quarterly dividend of $0.31 per share. This dividend will be payable on February 28, 2023, to shareholders recorded as of February 13, 2023. With approximately $13 billion in assets, Kemper is known for providing personalized insurance solutions across its Auto, Personal Insurance, and Life brands. The company serves over six million policies and is backed by a network of 33,500 agents, highlighting its commitment to customer needs.

Kemper Corporation (NYSE: KMPR) will host an in-person Investor Day on March 9, 2023, in New York City. The event will feature insights from President and CEO Joseph P. Lacher, Jr., CFO James J. McKinney, and the management team, focusing on Kemper's competitive position and key initiatives.

Attendance is by invitation only, with advance registration required for institutional investors and analysts. Interested parties should contact Karen Guerra at investors@kemper.com. The presentations will be available via a live webcast on Kemper's Investor Relations website, along with supporting materials.

Kemper Corporation (NYSE: KMPR) will release its fourth quarter 2022 earnings on February 2, 2023, after market close. The preliminary results indicate a net loss between $50 million and $65 million, and an adjusted net operating loss of $25 million to $35 million. The company reported combined ratios for Kemper Auto at 109% and Kemper Personal Insurance at 111% for Q4. Notably, the fourth quarter was affected by increased claim reserves and prior-year reserve development losses totaling $8 million. Despite these challenges, there was a favorable prior year reserve development of $17 million for the year. A conference call is scheduled for February 2, 2023, at 5:00 PM Eastern.

Kemper Corporation (NYSE: KMPR) has successfully completed the sale of Reserve National Insurance Company and its subsidiaries to Medical Mutual of Ohio, following necessary regulatory approvals. The transaction provides Kemper with approximately $88 million in cash. CEO Joseph P. Lacher, Jr. stated this marks a significant step in Kemper's strategic initiatives, allowing them to concentrate on core capabilities and enhance stakeholder value. With about $13 billion in assets, Kemper continues to serve over six million policies across its various insurance brands.

The Kemper Foundation has opened its spring 2023 grant cycle for the Read Conmigo bilingual educator program, now available in Dallas, Los Angeles, and Miami. The initiative offers up to 100 grants of $3,000 each to teachers in Spanish-English bilingual classrooms, aimed at enhancing bilingual literacy. The application deadline is November 27, 2022, and funds will be awarded in February 2023. The program reflects the Foundation's commitment to supporting education across the nation.