$KMPR

KEMPER Corp

CIK:0000860748|SEC Filings

Condensed Consolidated Statements of (Loss) Income - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Earned Premiums

^[1]

$ 1,011.6

$ 1,130.8

$ 2,010.9

$ 2,218.7

Net Investment Income

105.4

95.9

212.5

197.1

Other Income

0.5

3.1

3.9

5.7

Change in Fair Value of Equity and Convertible Securities

(1.7)

(0.5)

(3.0)

(0.4)

Net Realized Investment Gains (Losses)

0.6

(0.1)

1.0

0.8

Impairment Losses

(23.7)

(3.6)

(25.4)

(3.3)

Total Revenues

1,092.7

1,225.6

2,199.9

2,418.6

Expenses:

Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses

^[2]

818.4

829.1

1,647.2

1,596.4

Insurance and Other Expenses

272.4

300.0

549.4

594.5

Interest Expense

8.9

9.0

18.2

20.4

Goodwill Impairment

460.0

0.0

460.0

0.0

Total Expenses

1,559.7

1,138.1

2,674.8

2,211.3

(Loss) Income before Income Taxes

(467.0)

87.5

(474.9)

207.3

Income Tax (Benefit) Expense

1.0

(17.7)

4.5

(40.5)

Net (Loss) Income

(466.0)

69.8

(470.4)

166.8

Less: Net Loss attributable to Noncontrolling Interest

(1.2)

(2.8)

(3.9)

(5.5)

Net (Loss) Income attributable to Kemper Corporation

$ (464.8)

$ 72.6

$ (466.5)

$ 172.3

Net (Loss) Income attributable to Kemper Corporation per Unrestricted Share:

Basic (in dollars per share)

$ (7.90)

$ 1.13

$ (7.93)

$ 2.69

Diluted (in dollars per share)

$ (7.90)

$ 1.12

$ (7.93)

$ 2.66

[1]	1 Includes a remeasurement loss of $0.2 million and $0.9 million related to the deferred profit liability within the Life Insurance business for the three months ended June 30, 2026 and 2025, respectively, and a remeasurement gain of $0.7 million for the six months ended June 30, 2026 and a remeasurement loss of $0.7 million for the six months ended June 30, 2025.
[2]	2 Includes a remeasurement gain related to the liability for future policyholder benefits within the Life Insurance business of $1.9 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively, and a remeasurement gain of $2.3 million for the six months ended June 30, 2026. There was no remeasurement gain or loss for the six months ended June 30, 2025.

Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Statement of Cash Flows [Abstract]

Net (Loss) Income

$ (470.4)

$ 166.8

Adjustments to Reconcile Net (Loss) Income to Net Cash Provided by Operating Activities:

Net Realized Investment Gains

(1.0)

(0.8)

Impairment Losses

25.4

3.3

Depreciation, Amortization and Impairments of Long-lived Assets

23.2

25.5

Change in Accumulated Undistributed Earnings of Equity Method Limited Liability Investments

(6.7)

6.0

Change in Fair Value of Equity and Convertible Securities

3.0

0.4

Goodwill Impairment

460.0

0.0

Receivables from Policyholders

3.0

(64.2)

Reinsurance Recoverables

2.4

1.8

Deferred Policy Acquisition Costs

(19.1)

(29.8)

Insurance Reserves

189.1

87.3

Unearned Premiums

(10.3)

84.2

Income Taxes

(23.2)

18.4

Other

(56.1)

(29.3)

Net Cash Provided by Operating Activities

119.3

269.6

Cash Flows from Investing Activities:

Proceeds from Sales, Calls and Maturities of Fixed Maturities

582.8

525.4

Proceeds from Sales or Paydowns of Investments:

Equity Securities

20.7

12.0

Real Estate Investments

0.1

0.0

Mortgage Loans

78.2

53.5

Other Investments

10.9

12.6

Purchases of Investments:

Fixed Maturities

(643.0)

(668.8)

Equity Securities

(24.0)

(77.4)

Real Estate Investments

(1.5)

(1.0)

Company-Owned Life Insurance

(1.6)

0.0

Mortgage Loans

(83.6)

(108.3)

Other Investments

34.9

28.1

Net Sales of Short-term Investments

47.9

650.6

Acquisition of Software and Long-lived Assets

(22.3)

(15.3)

Settlement Proceeds from Company-Owned Life Insurance

6.3

2.9

Other

4.3

3.3

Net Cash (Used in) Provided by Investing Activities

(59.7)

361.4

Cash Flows from Financing Activities:

Repayment of Long-term Debt

0.0

(450.0)

Proceeds from Policyholder Contract Obligations

0.0

30.0

Repayment of Policyholder Contract Obligations

(68.1)

(26.7)

Proceeds from Shares Issued under Employee Stock Purchase Plan

1.6

1.8

Common Stock Repurchases

0.0

(32.5)

Dividends Paid

(37.6)

(41.0)

Other

(0.3)

(1.0)

Net Cash Used in Financing Activities

(104.4)

(519.4)

Net increase (decrease) in cash

^[1]

(44.8)

111.6

Cash, Beginning of Year

^[1]

126.0

65.4

Cash, End of Period

^[1]

81.2

177.0

Cash paid during the year for:

Interest

(17.4)

(27.1)

Interest

(17.4)

(22.2)

Operating Leases

(8.7)

(9.7)

Non-Cash Activities:

Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities

$ 5.9

$ 16.6

[1]	1 Includes amounts attributable to Kemper Reciprocal reported as noncontrolling interest.

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Investments:
Company-Owned Life Insurance	$ 598.2	$ 579.2
Other Investments	282.7	271.3
Receivables from Policyholders	972.5
Deferred Policy Acquisition Costs	675.8	656.7
Goodwill	783.5	1,250.7
Total Assets	11,926.3	12,472.7
Insurance Reserves:
Long-term Debt, Non-Current, at Amortized Cost	944.5	943.5
Total Liabilities	9,749.0	9,803.3
Kemper Corporation Shareholders’ Equity:
Common Stock, $0.10 Par Value, 100,000,000 Shares Authorized; 58,922,222 Shares Issued and Outstanding at June 30, 2026 and 58,666,644 Shares Issued and Outstanding at December 31, 2025	5.9	5.9
Paid-in Capital	1,738.5	1,723.9
Retained Earnings	653.7	1,157.8
Accumulated Other Comprehensive Loss	(205.3)	(206.2)
Total Kemper Corporation Shareholders’ Equity	2,192.8	2,681.4
Noncontrolling Interest	(15.5)	(12.0)
Total Shareholders’ Equity	2,177.3	2,669.4
Total Liabilities and Shareholders’ Equity	11,926.3	12,472.7
Consolidated Entity, Excluding VIE
Investments:
Fixed Maturities at Fair Value	6,721.1	6,743.3
Equity Securities at Fair Value	309.6	306.4
Equity Method Limited Liability Investments	183.0	176.0
Short-term Investments at Cost which Approximates Fair Value	271.4	313.5
Company-Owned Life Insurance	598.2	579.2
Loans to Policyholders	279.4	279.9
Other Investments	282.7	271.3
Total Investments	8,645.4	8,669.6
Cash	80.3	124.3
Receivables from Policyholders	966.3	965.2
Other Receivables	181.8	184.7
Deferred Policy Acquisition Costs	675.0	655.4
Goodwill	783.5	1,250.7
Current Income Tax Assets	48.7	40.7
Deferred Income Tax Assets	97.2	96.9
Other Assets	381.5	410.7
Insurance Reserves:
Insurance Reserves	6,343.2	6,198.3
Unearned Premiums	1,227.5	1,233.1
Policyholder Obligations	541.1	608.0
Deferred Income Tax Liabilities	0.0	14.8
Accrued Expenses and Other Liabilities	651.7	762.6
Variable Interest Entity, Primary Beneficiary
Investments:
Fixed Maturities at Fair Value	44.7	42.1
Short-term Investments at Cost which Approximates Fair Value	9.4	14.4
Cash	0.9	1.7
Receivables from Policyholders	6.2	10.4
Other Receivables	0.5	0.4
Deferred Policy Acquisition Costs	0.8	1.3
Deferred Income Tax Assets	4.1	4.2
Insurance Reserves:
Insurance Reserves	31.1	29.4
Unearned Premiums	7.4	12.1
Accrued Expenses and Other Liabilities	2.5	1.5
Life and Health \| Consolidated Entity, Excluding VIE
Insurance Reserves:
Insurance Reserves	3,278.1	3,287.5
Property and Casualty \| Consolidated Entity, Excluding VIE
Insurance Reserves:
Insurance Reserves	$ 3,065.1	$ 2,910.8