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v3.25.3

Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Reconciliation of Assets from Segment to Consolidated | Total Segment, Non-Core Operations, and Corporate and Other assets at September 30, 2025 and December 31, 2024 were:
(Dollars in Millions) |  | Sep 30, 2025 |  | Dec 31, 2024
Segment Assets: |  |  |  |
Specialty Property & Casualty Insurance 1 |  | $ | 6,642.1 |  |  | $ | 6,352.9 |
Life Insurance |  | 4,879.0 |  |  | 4,731.7 |
Total Segment Assets |  | 11,521.1 |  |  | 11,084.6 |
Corporate and Other |  | 262.9 |  |  | 774.7 |
Non-Core Operations |  | 659.4 |  |  | 771.1 |
Total Assets 1 |  | $ | 12,443.4 |  |  | $ | 12,630.4 |
1 Includes $70.0 million and $41.5 million attributable to Kemper Reciprocal as of September 30, 2025 and December 31, 2024, respectively, which is reported as a consolidated variable interest entity.
Revenue from External Customers by Products and Services | Earned Premiums by product line, including a reconciliation to Total Earned Premiums, for the three and nine months ended September 30, 2025 and 2024 were:
|  | Three Months Ended |  | Nine Months Ended
(Dollars in Millions) |  | Sep 30, 2025 |  | Sep 30, 2024 |  | Sep 30, 2025 |  | Sep 30, 2024
Specialty Property & Casualty Insurance: |  |  |  |  |  |  |  |
Personal Automobile |  | $ | 785.1 |  |  | $ | 731.3 |  |  | $ | 2,328.1 |  |  | $ | 2,098.1 |
Commercial Automobile |  | 232.2 |  |  | 187.7 |  |  | 662.2 |  |  | 523.5 |
Total Specialty Property & Casualty Insurance |  | 1,017.3 |  |  | 919.0 |  |  | 2,990.3 |  |  | 2,621.6 |
Life Insurance: |  |  |  |  |  |  |  |
Life |  | 84.1 |  |  | 84.2 |  |  | 252.6 |  |  | 249.2 |
Accident and Health |  | 5.5 |  |  | 5.6 |  |  | 16.4 |  |  | 16.8 |
Property |  | 10.2 |  |  | 10.8 |  |  | 31.0 |  |  | 32.7 |
Total Life Insurance |  | 99.8 |  |  | 100.6 |  |  | 300.0 |  |  | 298.7 |
Total Segment Earned Premiums |  | 1,117.1 |  |  | 1,019.6 |  |  | 3,290.3 |  |  | 2,920.3 |
Non-Core Operations |  | 16.2 |  |  | 48.9 |  |  | 61.7 |  |  | 213.8 |
Total Earned Premiums |  | $ | 1,133.3 |  |  | $ | 1,068.5 |  |  | $ | 3,352.0 |  |  | $ | 3,134.1 |
Reconciliation of Revenue from Segments to Consolidated | Segment Revenues, including a reconciliation to Total Revenues, for the three and nine months ended September 30, 2025 and 2024 were:
|  | Three Months Ended |  | Nine Months Ended
(Dollars in Millions) |  | Sep 30, 2025 |  | Sep 30, 2024 |  | Sep 30, 2025 |  | Sep 30, 2024
Segment Revenues: |  |  |  |  |  |  |  |
Specialty Property & Casualty Insurance: |  |  |  |  |  |  |  |
Earned Premiums |  | $ | 1,017.3 |  |  | $ | 919.0 |  |  | $ | 2,990.3 |  |  | $ | 2,621.6 |
Net Investment Income |  | 53.8 |  |  | 52.0 |  |  | 153.9 |  |  | 139.7 |
Other Income |  | 2.5 |  |  | 1.6 |  |  | 6.5 |  |  | 4.6 |
Total Specialty Property & Casualty Insurance |  | 1,073.6 |  |  | 972.6 |  |  | 3,150.7 |  |  | 2,765.9 |
Life Insurance: |  |  |  |  |  |  |  |
Earned Premiums |  | 99.8 |  |  | 100.6 |  |  | 300.0 |  |  | 298.7 |
Net Investment Income |  | 48.0 |  |  | 50.3 |  |  | 141.1 |  |  | 125.1 |
Other Income |  | 0.4 |  |  | 0.2 |  |  | 1.4 |  |  | 0.7 |
Total Life Insurance |  | 148.2 |  |  | 151.1 |  |  | 442.5 |  |  | 424.5 |
Total Segment Revenues |  | 1,221.8 |  |  | 1,123.7 |  |  | 3,593.2 |  |  | 3,190.4 |
Change in Fair Value of Equity and Convertible Securities |  | (2.1) |  |  | (2.3) |  |  | (2.5) |  |  | (0.1) |
Net Realized Investment Gains |  | 3.9 |  |  | 1.1 |  |  | 4.7 |  |  | 9.2 |
Impairment Losses |  | (3.1) |  |  | (2.2) |  |  | (6.4) |  |  | (3.8) |
Non-Core Operations |  | 18.2 |  |  | 54.8 |  |  | 67.4 |  |  | 244.8 |
Other |  | 1.0 |  |  | 3.8 |  |  | 1.9 |  |  | 11.3 |
Total Revenues |  | $ | 1,239.7 |  |  | $ | 1,178.9 |  |  | $ | 3,658.3 |  |  | $ | 3,451.8 |
Reconciliation of Expenses from Segments to Consolidated | Significant Segment Expenses that were regularly provided to the CODM for the three and nine months ended September 30, 2025 and 2024 were:
|  | Three Months Ended |  | Nine Months Ended
(Dollars in Millions) |  | Sep 30, 2025 |  | Sep 30, 2024 |  | Sep 30, 2025 |  | Sep 30, 2024
Segment Expenses: |  |  |  |  |  |  |  |
Specialty Property & Casualty Insurance: |  |  |  |  |  |  |  |
Current Year |  |  |  |  |  |  |  |
Non-catastrophe Losses and LAE |  | $ | 798.7 |  |  | $ | 644.2 |  |  | $ | 2,211.1 |  |  | $ | 1,846.0 |
Catastrophe Losses and LAE |  | 1.0 |  |  | 3.6 |  |  | 10.1 |  |  | 18.0 |
Prior Years |  |  |  |  |  |  |  |
Non-catastrophe Losses and LAE |  | 51.4 |  |  | (0.1) |  |  | 65.5 |  |  | 4.4 |
Catastrophe Losses and LAE |  | — |  |  | 0.2 |  |  | 0.6 |  |  | 0.8 |
Total Incurred Losses and LAE |  | 851.1 |  |  | 647.9 |  |  | 2,287.3 |  |  | 1,869.2 |
Policy Acquisition Costs 1 |  | 137.0 |  |  | 119.6 |  |  | 409.4 |  |  | 349.0 |
Business Unit Operating Costs 2 |  | 44.2 |  |  | 40.5 |  |  | 122.6 |  |  | 101.4 |
Corporate Overhead Costs 3 |  | 33.4 |  |  | 34.8 |  |  | 102.5 |  |  | 102.1 |
Total Insurance Expenses |  | 214.6 |  |  | 194.9 |  |  | 634.5 |  |  | 552.5 |
Income Tax Expense |  | 0.3 |  |  | 26.2 |  |  | 44.4 |  |  | 69.1 |
Total Specialty Property & Casualty Insurance |  | 1,066.0 |  |  | 869.0 |  |  | 2,966.2 |  |  | 2,490.8 |
Life Insurance: |  |  |  |  |  |  |  |
Policyholders’ Benefits and Incurred Losses and LAE |  | 60.5 |  |  | 64.1 |  |  | 186.2 |  |  | 191.0 |
Policy Acquisition Costs 1 |  | 32.8 |  |  | 34.9 |  |  | 97.7 |  |  | 100.3 |
Business Unit Operating Costs 2 |  | 24.6 |  |  | 24.1 |  |  | 76.1 |  |  | 71.6 |
Corporate Overhead Costs 3 |  | 8.2 |  |  | 10.0 |  |  | 25.9 |  |  | 31.0 |
Total Insurance Expenses |  | 65.6 |  |  | 69.0 |  |  | 199.7 |  |  | 202.9 |
Income Tax Expense |  | 3.5 |  |  | 3.0 |  |  | 8.2 |  |  | 3.9 |
Total Life Insurance |  | 129.6 |  |  | 136.1 |  |  | 394.1 |  |  | 397.8 |
Total Segment Expenses |  | $ | 1,195.6 |  |  | $ | 1,005.1 |  |  | $ | 3,360.3 |  |  | $ | 2,888.6 |
1 Policy acquisition costs primarily represents commissions and premium taxes that are incurred by the Company as a result of underwriting insurance policies and reflect the impacts of deferral and amortization of certain of these costs in accordance with the Company’s accounting policies.
2 Business unit operating costs are general expenses incurred by the Company's segments as part of ongoing operations and includes employee, IT, and facilities expenses.
3 Corporate overhead costs represents general expenses and other shared service expenses which are allocated across the Company.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | Total Segment Adjusted Net Operating Income, including a reconciliation to Net (Loss) Income attributable to Kemper Corporation, for the three and nine months ended September 30, 2025 and 2024 was:
|  | Three Months Ended |  | Nine Months Ended
(Dollars in Millions) |  | Sep 30, 2025 |  | Sep 30, 2024 |  | Sep 30, 2025 |  | Sep 30, 2024
Segment Adjusted Net Operating Income: |  |  |  |  |  |  |  |
Specialty Property & Casualty Insurance |  |  |  |  |  |  |  |
Revenues |  | $ | 1,073.6 |  |  | $ | 972.6 |  |  | $ | 3,150.7 |  |  | $ | 2,765.9 |
Expenses |  | (1,066.0) |  |  | (869.0) |  |  | (2,966.2) |  |  | (2,490.8) |
Specialty Property & Casualty Insurance Adjusted Net Operating Income |  | 7.6 |  |  | 103.6 |  |  | 184.5 |  |  | 275.1 |
Life Insurance |  |  |  |  |  |  |  |
Revenues |  | 148.2 |  |  | 151.1 |  |  | 442.5 |  |  | 424.5 |
Expenses |  | (129.6) |  |  | (136.1) |  |  | (394.1) |  |  | (397.8) |
Life Insurance Adjusted Net Operating Income |  | 18.6 |  |  | 15.0 |  |  | 48.4 |  |  | 26.7 |
Total Segment Adjusted Net Operating Income |  | 26.2 |  |  | 118.6 |  |  | 232.9 |  |  | 301.8 |
Corporate and Other Adjusted Net Operating Loss |  | (9.0) |  |  | (15.1) |  |  | (30.7) |  |  | (39.0) |
Less: Net Loss attributable to Noncontrolling Interest |  | (3.2) |  |  | (1.5) |  |  | (8.7) |  |  | (3.6) |
Net Income (Loss) From: |  |  |  |  |  |  |  |
Change in Fair Value of Equity and Convertible Securities |  | (1.7) |  |  | (1.8) |  |  | (2.0) |  |  | (0.1) |
Net Realized Investment Gains |  | 3.1 |  |  | 0.9 |  |  | 3.7 |  |  | 7.3 |
Impairment Losses |  | (2.5) |  |  | (1.7) |  |  | (5.1) |  |  | (3.0) |
Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs |  | (19.6) |  |  | (9.1) |  |  | (27.6) |  |  | (24.3) |
Debt Extinguishment, Pension Settlement and Other Charges |  | — |  |  | (2.2) |  |  | 0.4 |  |  | (0.1) |
Non-Core Operations |  | (20.7) |  |  | (17.4) |  |  | (29.0) |  |  | (25.8) |
Net (Loss) Income attributable to Kemper Corporation |  | $ | (21.0) |  |  | $ | 73.7 |  |  | $ | 151.3 |  |  | $ | 220.4 |

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