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v3.23.3

Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Revenue from External Customers by Products and Services | Earned Premiums by product line, including a reconciliation to Total Earned Premiums, for the nine and three months ended September 30, 2023 and 2022 were:
|  | Nine Months Ended |  |  | Three Months Ended
(Dollars in Millions) |  | Sep 30, 2023 |  | Sep 30, 2022 |  |  | Sep 30, 2023 |  | Sep 30, 2022
Specialty Property & Casualty Insurance: |  |  |  |  |  |  |  |  |
Personal Automobile |  | $ | 2,278.5 |  |  | $ | 2,666.3 |  |  |  | $ | 724.0 |  |  | $ | 858.8 |
Commercial Automobile |  | 488.4 |  |  | 398.5 |  |  |  | 166.4 |  |  | 140.7 |
Life Insurance: |  |  |  |  |  |  |  |  |
Life |  | 251.9 |  |  | 253.8 |  |  |  | 84.9 |  |  | 84.3 |
Accident and Health |  | 17.5 |  |  | 136.8 |  |  |  | 5.8 |  |  | 45.9 |
Property |  | 34.2 |  |  | 38.3 |  |  |  | 11.4 |  |  | 11.9 |
Total Segment Earned Premiums |  | $ | 3,070.5 |  |  | $ | 3,493.7 |  |  |  | $ | 992.5 |  |  | $ | 1,141.6 |
Non-Core Operations |  | 395.1 |  |  | 454.8 |  |  |  | 125.3 |  |  | 149.3 |
Total Earned Premiums |  | $ | 3,465.6 |  |  | $ | 3,948.5 |  |  |  | $ | 1,117.8 |  |  | $ | 1,290.9 |
Reconciliation of Revenue from Segments to Consolidated | Segment Revenues, including a reconciliation to Total Revenues, for the nine and three months ended September 30, 2023 and 2022 were:
|  | Nine Months Ended |  |  | Three Months Ended
(Dollars in Millions) |  | Sep 30, 2023 |  | Sep 30, 2022 |  |  | Sep 30, 2023 |  | Sep 30, 2022
Segment Revenues: |  |  |  |  |  |  |  |  |
Specialty Property & Casualty Insurance: |  |  |  |  |  |  |  |  |
Earned Premiums |  | $ | 2,766.9 |  |  | $ | 3,064.8 |  |  |  | $ | 890.4 |  |  | $ | 999.5 |
Net Investment Income |  | 125.7 |  |  | 102.8 |  |  |  | 42.7 |  |  | 33.9 |
Change in Value of Alternative Energy Partnership Investments |  | 1.3 |  |  | (10.6) |  |  |  | 0.5 |  |  | 0.3 |
Other Income |  | 3.2 |  |  | 5.0 |  |  |  | 1.6 |  |  | 2.3 |
Total Specialty Property & Casualty Insurance |  | 2,897.1 |  |  | 3,162.0 |  |  |  | 935.2 |  |  | 1,036.0 |
Life Insurance: |  |  |  |  |  |  |  |  |
Earned Premiums |  | 303.6 |  |  | 428.9 |  |  |  | 102.1 |  |  | 142.1 |
Net Investment Income |  | 146.3 |  |  | 163.9 |  |  |  | 49.4 |  |  | 52.6 |
Change in Value of Alternative Energy Partnership Investments |  | 0.6 |  |  | (5.6) |  |  |  | 0.2 |  |  | 0.1 |
Other (Loss) Income |  | (0.4) |  |  | (0.8) |  |  |  | (0.1) |  |  | — |
Total Life Insurance |  | 450.1 |  |  | 586.4 |  |  |  | 151.6 |  |  | 194.8 |
Total Segment Revenues |  | 3,347.2 |  |  | 3,748.4 |  |  |  | 1,086.8 |  |  | 1,230.8 |
Income (Loss) from Change in Fair Value of Equity and Convertible Securities |  | 6.9 |  |  | (79.9) |  |  |  | 2.8 |  |  | (11.2) |
Net Realized Investment (Losses) Gains |  | (38.3) |  |  | 0.4 |  |  |  | (30.3) |  |  | (12.1) |
Net Impairment Gains (Losses) Recognized in Earnings |  | 0.1 |  |  | (22.1) |  |  |  | (1.1) |  |  | (8.3) |
Non-Core Operations |  | 431.7 |  |  | 486.0 |  |  |  | 138.0 |  |  | 161.1 |
Other |  | 9.4 |  |  | 16.5 |  |  |  | 3.2 |  |  | 1.2 |
Total Revenues |  | $ | 3,757.0 |  |  | $ | 4,149.3 |  |  |  | $ | 1,199.4 |  |  | $ | 1,361.5 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | , including a reconciliation to Loss before Income Taxes, for the nine and three months ended September 30, 2023 and 2022 was:
|  | Nine Months Ended |  |  | Three Months Ended
(Dollars in Millions) |  | Sep 30, 2023 |  | Sep 30, 2022 |  |  | Sep 30, 2023 |  | Sep 30, 2022
Segment Adjusted Operating (Loss) Income: |  |  |  |  |  |  |  |  |
Specialty Property & Casualty Insurance |  | $ | (132.9) |  |  | $ | (150.4) |  |  |  | $ | (43.2) |  |  | $ | (39.2) |
Life Insurance |  | 42.4 |  |  | 51.5 |  |  |  | 17.5 |  |  | 15.6 |
Total Segment Adjusted Operating Loss |  | (90.5) |  |  | (98.9) |  |  |  | (25.7) |  |  | (23.6) |
Corporate and Other Adjusted Operating Loss From: |  |  |  |  |  |  |  |  |
Other |  | (41.5) |  |  | (32.2) |  |  |  | (13.3) |  |  | (16.6) |
Corporate and Other Adjusted Operating Loss |  | (41.5) |  |  | (32.2) |  |  |  | (13.3) |  |  | (16.6) |
Adjusted Consolidated Operating Loss |  | (132.0) |  |  | (131.1) |  |  |  | (39.0) |  |  | (40.2) |
Income (Loss) from Change in Fair Value of Equity and Convertible Securities |  | 6.9 |  |  | (79.9) |  |  |  | 2.8 |  |  | (11.2) |
Net Realized Investment (Losses) Gains |  | (38.3) |  |  | 0.4 |  |  |  | (30.3) |  |  | (12.1) |
Impairment Gains (Losses) |  | 0.1 |  |  | (22.1) |  |  |  | (1.1) |  |  | (8.3) |
Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs |  | (101.9) |  |  | (27.3) |  |  |  | (43.3) |  |  | (12.7) |
Debt Extinguishment, Pension Settlement and Other Charges |  | (70.2) |  |  | (3.7) |  |  |  | (70.2) |  |  | — |
Goodwill Impairment Charge |  | (49.6) |  |  | — |  |  |  | — |  |  | — |
Non-Core Operations |  | (25.5) |  |  | (34.4) |  |  |  | (9.6) |  |  | (3.3) |
Loss before Income Taxes attributable to Kemper Corporation |  | $ | (410.5) |  |  | $ | (298.1) |  |  |  | $ | (190.7) |  |  | $ | (87.8) |
Loss before Income Taxes Noncontrolling Interest |  | (0.1) |  |  | — |  |  |  | (0.1) |  |  | — |
Loss before Income Taxes |  | $ | (410.6) |  |  | $ | (298.1) |  |  |  | $ | (190.8) |  |  | $ | (87.8) |
Note 5 - Business Segments (Continued)
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated | , including a reconciliation to Net Loss, for the nine and three months ended September 30, 2023 and 2022 was:
|  | Nine Months Ended |  |  | Three Months Ended
(Dollars in Millions and Net of Income Taxes) |  | Sep 30, 2023 |  | Sep 30, 2022 |  |  | Sep 30, 2023 |  | Sep 30, 2022
Segment Adjusted Net Operating (Loss) Income: |  |  |  |  |  |  |  |  |
Specialty Property & Casualty Insurance |  | $ | (102.4) |  |  | $ | (112.3) |  |  |  | $ | (33.2) |  |  | $ | (28.7) |
Life Insurance |  | 36.8 |  |  | 45.8 |  |  |  | 14.7 |  |  | 14.0 |
Total Segment Adjusted Net Operating Loss |  | (65.6) |  |  | (66.5) |  |  |  | (18.5) |  |  | (14.7) |
Corporate and Other Adjusted Net Operating Loss From: |  |  |  |  |  |  |  |  |
Other |  | (32.2) |  |  | (26.4) |  |  |  | (9.4) |  |  | (12.3) |
Total Corporate and Other Adjusted Net Operating Loss |  | (32.2) |  |  | (26.4) |  |  |  | (9.4) |  |  | (12.3) |
Adjusted Consolidated Net Operating Loss |  | (97.8) |  |  | (92.9) |  |  |  | (27.9) |  |  | (27.0) |
Net Income (Loss) From: |  |  |  |  |  |  |  |  |
Change in Fair Value of Equity and Convertible Securities |  | 5.5 |  |  | (63.1) |  |  |  | 2.3 |  |  | (8.8) |
Net Realized Investment (Losses) Gains |  | (30.3) |  |  | 0.3 |  |  |  | (22.9) |  |  | (9.6) |
Impairment Gains (Losses) |  | 0.1 |  |  | (17.5) |  |  |  | (0.8) |  |  | (6.6) |
Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs |  | (80.5) |  |  | (32.2) |  |  |  | (34.2) |  |  | (20.7) |
Debt Extinguishment, Pension Settlement and Other Charges |  | (55.5) |  |  | (2.9) |  |  |  | (55.5) |  |  | — |
Goodwill Impairment Charge |  | (45.5) |  |  | — |  |  |  | — |  |  | — |
Non-Core Operations |  | (19.5) |  |  | (25.0) |  |  |  | (7.3) |  |  | (2.1) |
Net Loss attributable to Kemper Corporation |  | $ | (323.5) |  |  | $ | (233.3) |  |  |  | $ | (146.3) |  |  | $ | (74.8) |
Net Loss Noncontrolling Interest |  | (0.1) |  |  | — |  |  |  | (0.1) |  |  | — |
Net Loss |  | $ | (323.6) |  |  | $ | (233.3) |  |  |  | $ | (146.4) |  |  | $ | (74.8) |

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