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Stockholders’ Equity
 9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Shareholders’ Equity
Common Stock Repurchases
On May 6, 2020, Kemper’s Board of Directors authorized the repurchase of up to an additional $200.0 million of Kemper’s common stock, in addition to $133.3 million remaining under a prior authorization in 2014, bringing the remaining share repurchase authorization to approximately $333.3 million (the “2014 Repurchase Program”). On August 5, 2025, Kemper’s Board of Directors approved a new share repurchase authorization, under which the Company can repurchase up to $500.0 million of its common stock (the “2025 Repurchase Program”).
As of September 30, 2025, the 2014 Repurchase Program has been completed, and the remaining share repurchase authorization under the 2025 Repurchase Program was $383.8 million.
On August 13, 2025, the Company entered into an accelerated share repurchase agreement (the “ASR Agreement”) with Goldman Sachs & Co. LLC (“Goldman Sachs”) to repurchase an aggregate of $150.0 million of shares of the Company’s common stock. Under the terms of the ASR Agreement, the Company made a payment of $150.0 million to Goldman Sachs, and on August 14, 2025, received initial deliveries of an aggregate of 2,279,000 shares of the Company’s common stock, or approximately 80% of the total shares that are expected to be repurchased under the ASR Agreement, based on the closing price on August 13, 2025 of $52.65 per share.
The initial delivery of shares resulted in an immediate reduction of the outstanding shares used to calculate the weighted-average common shares outstanding for basic and diluted earnings per share. The ASR Agreement was accounted for as a treasury stock transaction and forward stock purchase contract. The shares delivered were immediately retired, and the unsettled portion of the ASR Agreement was recorded in additional paid-in capital in the Company’s Condensed Consolidated Balance Sheet. The forward stock purchase contract is considered indexed to the Company’s own stock and is classified as an equity instrument.
On October 13, 2025, as final settlement of the share repurchase transaction under the ASR Agreement, the Company received from Goldman Sachs approximately 615,000 shares of the Company’s common stock. In total, the Company repurchased 2,894,000 shares of its Common Stock under the ASR Agreement at $51.84 per share, which represents the volume-weighted average market price of the Company’s common stock during the term of the ASR Agreement less a customary discount. The shares delivered were immediately retired.
In addition to the ASR Agreement repurchases, during the three months ended September 30, 2025, Kemper repurchased and retired approximately 1,126,000 shares of its common stock in open market transactions under its share repurchase authorizations for an aggregate cost of $66.5 million and an average cost per share of $59.00. In addition to the ASR Agreement repurchases, during the nine months ended September 30, 2025, Kemper repurchased and retired approximately 1,636,000 shares of its common stock in open market transactions under its share repurchase authorizations for an aggregate cost of $99.0 million and an average cost per share of $60.52.
During the three and nine months ended September 30, 2024, Kemper repurchased and retired approximately 400,000 shares of its common stock in open market transactions under its share repurchase authorizations for an aggregate cost of $25.0 million and an average cost per share of $61.21.
Employee Stock Purchase Plan
During the three months ended September 30, 2025 and 2024, the Company issued 17,000 and 14,000 shares under the Kemper Employee Stock Purchase Plan (“ESPP”) at a discounted price of $43.82 and $52.06 per share, respectively. Compensation costs charged against income were $0.1 million and $0.1 million during the three months ended September 30, 2025 and 2024, respectively.
During the nine months ended September 30, 2025 and 2024, the Company issued 45,000 and 47,000 shares under the Kemper ESPP, respectively, at an average discounted price of $51.17 and $51.61 per share. Compensation costs charged against income were $0.4 million and $0.4 million for the nine months ended September 30, 2025 and 2024.