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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the Company’s Net Deferred Income Tax Assets and Deferred Income Tax Liabilities at December 31, 2024 and 2023 were:
DOLLARS IN MILLIONS |  | 2024 |  | 2023
Deferred Income Tax Assets: |  |  |  |
Unearned Premium Reserves |  | $ | 52.8 |  |  | $ | 54.0 |
Tax Capitalization of Policy Acquisition Costs |  | 49.5 |  |  | 46.3 |
Payroll and Employee Benefit Accruals |  | 34.7 |  |  | 34.8 |
Investments |  | 147.6 |  |  | 103.4 |
Net Operating Loss and Credit Carryforwards |  | 14.0 |  |  | 114.6 |
Other |  | 45.9 |  |  | 32.2 |
Subtotal |  | 344.5 |  |  | 385.3 |
Valuation Allowance |  | (38.7) |  |  | (27.4) |
Total Deferred Income Tax Assets |  | 305.8 |  |  | 357.9 |
Deferred Income Tax Liabilities: |  |  |  |
Insurance Reserves |  | 39.5 |  |  | 12.7 |
Deferred Policy Acquisition Costs |  | 132.3 |  |  | 124.3 |
Goodwill and Other Intangible Assets |  | 35.0 |  |  | 35.8 |
Depreciable Assets |  | 14.6 |  |  | 19.3 |
Other |  | 4.4 |  |  | 6.0 |
Total Deferred Income Tax Liabilities |  | 225.8 |  |  | 198.1 |
Net Deferred Income Tax Assets 1 |  | $ | 80.0 |  |  | $ | 159.8 |
1 Includes $1.5 million attributable to Kemper Reciprocal, which is reported as a consolidated variable interest entity.
Summary of Operating Loss Carryforwards | The expiration of federal net operating loss (“NOL”) carryforwards and their related deferred income tax assets at December 31, 2024 is presented below by year of expiration.
DOLLARS IN MILLIONS |  | NOL Carry-forwards |  | Deferred Tax Asset
Expiring in: |  |  |  |
2043 |  | 0.3 |  |  | 0.1 |
2044 |  | 6.0 |  |  | 1.3 |
No Expiration |  | 60.2 |  |  | 12.6 |
Total All Years |  | $ | 66.5 |  |  | $ | 14.0 |
Schedule of Components of Income Tax Expense (Benefit) | The components of Income Tax Expense (Benefit) from Operations for the years ended December 31, 2024, 2023 and 2022 were:
DOLLARS IN MILLIONS |  | 2024 |  | 2023 |  | 2022
Current Income Tax Expense (Benefit) |  | $ | 11.9 |  |  | $ | (4.0) |  |  | $ | 6.2 |
Deferred Income Tax Expense (Benefit) |  | 64.1 |  |  | (70.8) |  |  | (90.6) |
Income Tax Expense (Benefit) |  | $ | 76.0 |  |  | $ | (74.8) |  |  | $ | (84.4) |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the Statutory Federal Income Tax Expense (Benefit) and Rate to the Company’s Effective Income Tax Expense (Benefit) and Rate from Operations for the years ended December 31, 2024, 2023 and 2022 is presented below.
DOLLARS IN MILLIONS |  | 2024 |  | 2023 |  | 2022
Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
Statutory Federal Income Tax Expense (Benefit) |  | $ | 81.6 |  |  | 21.0 | % |  | $ | (72.8) |  |  | 21.0 | % |  | $ | (77.9) |  |  | 21.0 | %
Tax-exempt Income and Dividends Received Deduction |  | (3.4) |  |  | (0.9) |  |  | (4.8) |  |  | 1.4 |  |  | (5.3) |  |  | 1.3 |
Untaxed Earnings on Company-Owned Life Insurance |  | (7.5) |  |  | (1.9) |  |  | (6.1) |  |  | 1.8 |  |  | (8.0) |  |  | 2.1 |
Tax credits |  | (1.2) |  |  | (0.3) |  |  | (3.1) |  |  | 0.9 |  |  | (6.5) |  |  | 1.7 |
Stock-Based Compensation |  | (0.1) |  |  | — |  |  | 0.3 |  |  | (0.1) |  |  | 1.3 |  |  | (0.3) |
Nondeductible Executive Compensation |  | 3.5 |  |  | 0.9 |  |  | 1.8 |  |  | (0.5) |  |  | 1.5 |  |  | (0.4) |
Goodwill impairment |  | — |  |  | — |  |  | 6.3 |  |  | (1.8) |  |  | — |  |  | — |
Expense on Transactions |  | — |  |  | — |  |  | — |  |  | — |  |  | 11.5 |  |  | (3.0) |
Effect of foreign operations |  | (11.3) |  |  | (2.9) |  |  | (27.4) |  |  | 7.9 |  |  | — |  |  | — |
Change in valuation allowance |  | 11.3 |  |  | 2.9 |  |  | 27.4 |  |  | (7.9) |  |  | — |  |  | — |
Other, Net |  | 3.1 |  |  | 0.8 |  |  | 3.6 |  |  | (1.1) |  |  | (1.0) |  |  | 0.3 |
Effective Income Tax Expense (Benefit) |  | $ | 76.0 |  |  | 19.6 | % |  | $ | (74.8) |  |  | 21.6 | % |  | $ | (84.4) |  |  | 22.7 | %
Comprehensive Income Tax Benefit and Expenses | Comprehensive Income Tax Expense (Benefit) included in the Consolidated Financial Statements for the years ended December 31, 2024, 2023 and 2022 was:
DOLLARS IN MILLIONS |  | 2024 |  | 2023 |  | 2022
Income Tax Expense (Benefit): |  |  |  |  |  |
Operations |  | $ | 76.0 |  |  | $ | (74.8) |  |  | $ | (84.4) |
Unrealized (Depreciation) Appreciation on Securities |  | (42.2) |  |  | 50.3 |  |  | (325.5) |
Tax Effects from Postretirement Benefit Plans |  | (0.3) |  |  | 12.4 |  |  | 4.0 |
Tax Effects on changes in Discount Rate for Life Reserves |  | 58.3 |  |  | (21.2) |  |  | 289.9 |
Tax Effects from Cash Flow Hedge |  | (0.8) |  |  | — |  |  | 1.2 |
Comprehensive Income Tax Expense (Benefit) |  | $ | 91.0 |  |  | $ | (33.3) |  |  | $ | (114.8) |

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