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Kemper Corporation
NYSE: KMPR Financials Insurance 🔎 Screen
$1.7B
Market Cap
17.7
P/E
0.74
PEG
4.4%
ROCE
4.9%
ROE
0.56
D/E
5.0%
OPM
-46.3%
% from 52W High
20
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for KMPR including FX impact
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📈 Price History
Ratio Health
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By Category
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About

Kemper Corporation, an insurance holding company, provides insurance products in the United States. It operates in two segments, Specialty Property & Casualty Insurance, and Life Insurance. The Specialty Property & Casualty Insurance segment primarily offers specialty personal automobile and commercial automobile insurance through independent agents and brokers. The Life Insurance segment primarily provides individual life, accident, supplemental health, and property insurance. The company was formerly known as Unitrin, Inc. and changed its name to Kemper Corporation in August 2011. Kemper Corporation was incorporated in 1990 and is headquartered in Chicago, Illinois.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding KMPR
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 680.7K $20.8M 0.03% Mar 2026
Jim Simons Renaissance Technologies LLC 381.4K $11.7M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED Kemper Q1 2026: GAAP net loss $1.7M, adjusted NOI $12.5M; California headwinds persist.
Revenue & Profitability
GAAP net loss of $1.7 million ($0.03 per share). Adjusted consolidated net operating income was $12.5 million ($0.21 per share). Excluding Florida statutory premium refunds, adjusted net operating income was $34.6 million ($0.59 per share). Net investment income was $107 million, up $4 million sequentially. Life segment operating income was $18 million.
Outlook
Management sees headwinds from California minimum liability limit increases leading to greater attorney involvement and higher loss costs. Florida tort reforms have reduced loss costs but triggered statutory premium refunds. Outside California, the broader business is performing well. Early signs suggest the California market is becoming more favorable as competitors also file rate increases.
Growth Drivers
Key growth drivers include Commercial Auto (record production quarter), profitable PIF growth in Florida and Texas, and the new BVP product launched in Florida and approved in Texas. Arizona and Oregon BVP results are encouraging. Expense restructuring with $60 million run-rate savings supports margin improvement and scalability.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
Specialty auto expense ratio target below 20% (currently ~22%). Restructuring identified $60 million in run-rate savings, $50 million actioned. Loss cost improvements being pursued through claims process refinement. California personal auto margins under pressure but expected to improve with rate actions and claims initiatives.
Key Risks
Key risks flagged: elevated loss costs in California personal auto due to minimum liability limit changes and increased attorney involvement; statutory premium refunds in Florida; adverse reserve development in Commercial Auto (older accident years 2022-2023). Capital RBC ratio at 225% (within 225%-300% range), holdco liquidity $80 million.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-06
Underlying operating performance improved sequentially, but reported GAAP results were heavily impacted by a $460 million goodwill impairment and a $16.6 million credit loss allowance. Profitability restoration remains the top priority, with disciplined rate and expense actions across segments.
Q1 2026 Q1 2026 2026-05-06
First quarter 2026 results were impacted by California loss costs and Florida premium refunds, leading to a net loss, but commercial auto and life segments performed well. Operational improvements, rate actions, and new products are expected to drive recovery and growth.
Q4 2025 Q4 2025 2026-02-04
Fourth quarter results were impacted by elevated claim severity in California and statutory refunds in Florida, leading to a net loss. Strategic actions include restructuring, targeted rate filings, and new product launches to restore profitability and drive growth, with the life segment providing stability.
Q3 2025 Q3 2025 2025-11-05
Third quarter results showed a net loss and increased claim severity, especially in California, prompting restructuring and leadership changes. Strong cash flow and capital position support ongoing share repurchases and operational improvements, with a focus on profitable growth amid competitive pressures.
Q2 2025 Q2 2025 2025-08-05
Strong Q2 results with 15% adjusted ROE, 14% book value growth, and record cash flow. Specialty Auto and Commercial Auto delivered solid combined ratios and growth, while $80M in stock was repurchased and $550M more authorized. Market normalization is expected to moderate growth.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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