DE | 95-4255452 | |
(State or other jurisdiction of incorporation) | (IRS Employer Identification No.) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Emerging Growth Company | ¨ |
Item 2.02. | Results of Operations and Financial Condition. |
Item 9.01. | Financial Statements and Exhibits. |
Kemper Corporation | ||||
Date: | October 30, 2017 | /S/ JAMES J. MCKINNEY | ||
James J. McKinney | ||||
Senior Vice President and Chief Financial Officer (principal financial officer) |
![]() | Kemper Corporation One East Wacker Drive Chicago, IL 60601 kemper.com | |
Press Release |
◦ | Increased Property & Casualty earned premiums by $37 million or 9 percent in the quarter |
◦ | Improved nonstandard personal automobile’s underlying combined ratio 11.5 percentage points |
◦ | Increased net investment income 11 percent, driven by strong alternative investment returns |
◦ | Generated investment portfolio pre-tax equivalent annualized book yield of 5.8 percent in the quarter |
Three Months Ended | Nine Months Ended | |||||||||||||||
(Dollars in Millions, Except Per Share Amounts) (Unaudited) | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||
Consolidated Net Operating Income (Loss)1 | $ | 44.4 | $ | (20.4 | ) | $ | 61.5 | $ | (16.4 | ) | ||||||
Income (Loss) from Continuing Operations | 47.8 | (18.3 | ) | 84.0 | (16.4 | ) | ||||||||||
Net Income (Loss) | 47.7 | (16.3 | ) | 84.0 | (14.4 | ) | ||||||||||
Impact of Catastrophe Losses and Related Loss Adjustment Expense (LAE) on Net Income (Loss) | $ | (21.5 | ) | $ | (8.2 | ) | $ | (87.2 | ) | $ | (66.6 | ) | ||||
Diluted Net Income (Loss) Per Share From: | ||||||||||||||||
Consolidated Net Operating Income (Loss)1 | $ | 0.85 | $ | (0.40 | ) | $ | 1.19 | $ | (0.31 | ) | ||||||
Continuing Operations | 0.92 | (0.36 | ) | 1.62 | (0.31 | ) | ||||||||||
Net Income (Loss) | 0.92 | (0.32 | ) | 1.62 | (0.27 | ) | ||||||||||
Impact of Catastrophe Losses and Related LAE on Net Income (Loss) Per Share | $ | (0.41 | ) | $ | (0.16 | ) | $ | (1.68 | ) | $ | (1.29 | ) |
Three Months Ended | Nine Months Ended | |||||||||||||||
(Dollars in Millions) (Unaudited) | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||
Segment Net Operating Income (Loss): | ||||||||||||||||
Property & Casualty Insurance | $ | 22.9 | $ | 12.1 | $ | 5.7 | $ | (9.9 | ) | |||||||
Life & Health Insurance | 23.5 | (29.4 | ) | 65.5 | 7.3 | |||||||||||
Total Segment Net Operating Income (Loss) | 46.4 | (17.3 | ) | 71.2 | (2.6 | ) | ||||||||||
Corporate and Other Net Operating Loss | (2.0 | ) | (3.1 | ) | (9.7 | ) | (13.8 | ) | ||||||||
Consolidated Net Operating Income (Loss) | 44.4 | (20.4 | ) | 61.5 | (16.4 | ) | ||||||||||
Net Income (Loss) From: | ||||||||||||||||
Net Realized Gains on Sales of Investments | 5.3 | 7.5 | 29.3 | 15.6 | ||||||||||||
Net Impairment Losses Recognized in Earnings | (1.9 | ) | (5.4 | ) | (6.8 | ) | (15.6 | ) | ||||||||
Income (Loss) from Continuing Operations | $ | 47.8 | $ | (18.3 | ) | $ | 84.0 | $ | (16.4 | ) |
Three Months Ended | Nine Months Ended | |||||||||||||||
(Dollars in Millions, Except Per Share Amounts) | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||
Revenues: | ||||||||||||||||
Earned Premiums | $ | 598.2 | $ | 558.9 | $ | 1,744.1 | $ | 1,658.6 | ||||||||
Net Investment Income | 85.9 | 77.7 | 244.6 | 218.4 | ||||||||||||
Other Income | 1.0 | 0.8 | 2.9 | 2.2 | ||||||||||||
Net Realized Gains on Sales of Investments | 8.1 | 11.6 | 45.0 | 24.0 | ||||||||||||
Other-than-temporary Impairment Losses: | ||||||||||||||||
Total Other-than-temporary Impairment Losses | (2.9 | ) | (8.3 | ) | (10.7 | ) | (24.3 | ) | ||||||||
Portion of Losses Recognized in Other Comprehensive Income | — | — | 0.2 | 0.3 | ||||||||||||
Net Impairment Losses Recognized in Earnings | (2.9 | ) | (8.3 | ) | (10.5 | ) | (24.0 | ) | ||||||||
Total Revenues | 690.3 | 640.7 | 2,026.1 | 1,879.2 | ||||||||||||
Expenses: | ||||||||||||||||
Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses | 440.1 | 490.2 | 1,364.9 | 1,362.5 | ||||||||||||
Insurance Expenses | 163.7 | 161.7 | 485.2 | 488.8 | ||||||||||||
Interest and Other Expenses | 18.2 | 22.0 | 59.1 | 65.0 | ||||||||||||
Total Expenses | 622.0 | 673.9 | 1,909.2 | 1,916.3 | ||||||||||||
Income (Loss) from Continuing Operations before Income Taxes | 68.3 | (33.2 | ) | 116.9 | (37.1 | ) | ||||||||||
Income Tax Benefit (Expense) | (20.5 | ) | 14.9 | (32.9 | ) | 20.7 | ||||||||||
Income (Loss) from Continuing Operations | 47.8 | (18.3 | ) | 84.0 | (16.4 | ) | ||||||||||
Income (Loss) from Discontinued Operations | (0.1 | ) | 2.0 | — | 2.0 | |||||||||||
Net Income (Loss) | $ | 47.7 | $ | (16.3 | ) | $ | 84.0 | $ | (14.4 | ) | ||||||
Income (Loss) from Continuing Operations Per Unrestricted Share: | ||||||||||||||||
Basic | $ | 0.92 | $ | (0.36 | ) | $ | 1.63 | $ | (0.31 | ) | ||||||
Diluted | $ | 0.92 | $ | (0.36 | ) | $ | 1.62 | $ | (0.31 | ) | ||||||
Net Income (Loss) Per Unrestricted Share: | ||||||||||||||||
Basic | $ | 0.92 | $ | (0.32 | ) | $ | 1.63 | $ | (0.27 | ) | ||||||
Diluted | $ | 0.92 | $ | (0.32 | ) | $ | 1.62 | $ | (0.27 | ) | ||||||
Weighted-average Outstanding (Shares in Thousands): | ||||||||||||||||
Unrestricted Shares - Basic | 51,366.8 | 51,122.5 | 51,308.7 | 51,140.6 | ||||||||||||
Unrestricted Shares and Equivalent Shares - Diluted | 51,566.4 | 51,122.5 | 51,480.3 | 51,140.6 | ||||||||||||
Dividends Paid to Shareholders Per Share | $ | 0.24 | $ | 0.24 | $ | 0.72 | $ | 0.72 |
Three Months Ended | Nine Months Ended | |||||||||||||||
(Dollars in Millions) | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||
REVENUES: | ||||||||||||||||
Property & Casualty Insurance: | ||||||||||||||||
Earned Premiums: | ||||||||||||||||
Personal Automobile | $ | 353.0 | $ | 313.8 | $ | 1,012.8 | $ | 927.4 | ||||||||
Homeowners | 66.7 | 68.5 | 199.6 | 204.2 | ||||||||||||
Other Personal | 10.7 | 11.3 | 32.2 | 33.9 | ||||||||||||
Total Personal | 430.4 | 393.6 | 1,244.6 | 1,165.5 | ||||||||||||
Commercial Automobile | 13.1 | 13.3 | 38.5 | 40.2 | ||||||||||||
Total Earned Premiums | 443.5 | 406.9 | 1,283.1 | 1,205.7 | ||||||||||||
Net Investment Income | 27.8 | 20.4 | 72.5 | 52.0 | ||||||||||||
Other Income | 0.4 | 0.1 | 0.9 | 0.4 | ||||||||||||
Total Property & Casualty Insurance | 471.7 | 427.4 | 1,356.5 | 1,258.1 | ||||||||||||
Life & Health Insurance: | ||||||||||||||||
Earned Premiums: | ||||||||||||||||
Life | 94.5 | 95.8 | 285.6 | 285.7 | ||||||||||||
Accident and Health | 42.0 | 37.6 | 120.6 | 111.2 | ||||||||||||
Property | 18.2 | 18.6 | 54.8 | 56.0 | ||||||||||||
Total Earned Premiums | 154.7 | 152.0 | 461.0 | 452.9 | ||||||||||||
Net Investment Income | 55.9 | 54.5 | 163.8 | 159.6 | ||||||||||||
Other Income | 0.7 | 0.7 | 1.9 | 1.9 | ||||||||||||
Total Life & Health Insurance | 211.3 | 207.2 | 626.7 | 614.4 | ||||||||||||
Total Segment Revenues | 683.0 | 634.6 | 1,983.2 | 1,872.5 | ||||||||||||
Net Realized Gains on Sales of Investments | 8.1 | 11.6 | 45.0 | 24.0 | ||||||||||||
Net Impairment Losses Recognized in Earnings | (2.9 | ) | (8.3 | ) | (10.5 | ) | (24.0 | ) | ||||||||
Other | 2.1 | 2.8 | 8.4 | 6.7 | ||||||||||||
Total Revenues | $ | 690.3 | $ | 640.7 | $ | 2,026.1 | $ | 1,879.2 |
KEMPER CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in Millions) | |||||||
Sep 30, 2017 | Dec 31, 2016 | ||||||
Assets: | (Unaudited) | ||||||
Investments: | |||||||
Fixed Maturities at Fair Value | $ | 5,242.8 | $ | 5,124.9 | |||
Equity Securities at Fair Value | 512.1 | 481.7 | |||||
Equity Method Limited Liability Investments at Cost Plus Cumulative Undistributed Earnings | 160.1 | 175.9 | |||||
Fair Value Option Investments | 77.1 | 111.4 | |||||
Short-term Investments at Cost which Approximates Fair Value | 239.0 | 273.7 | |||||
Other Investments | 420.0 | 439.9 | |||||
Total Investments | 6,651.1 | 6,607.5 | |||||
Cash | 137.6 | 115.7 | |||||
Receivables from Policyholders | 374.8 | 336.5 | |||||
Other Receivables | 182.4 | 198.6 | |||||
Deferred Policy Acquisition Costs | 361.7 | 332.0 | |||||
Goodwill | 323.0 | 323.0 | |||||
Current Income Tax Assets | 0.9 | 15.5 | |||||
Deferred Income Tax Assets | — | 25.8 | |||||
Other Assets | 269.5 | 255.9 | |||||
Total Assets | $ | 8,301.0 | $ | 8,210.5 | |||
Liabilities and Shareholders’ Equity: | |||||||
Insurance Reserves: | |||||||
Life and Health | $ | 3,509.8 | $ | 3,475.3 | |||
Property and Casualty | 968.5 | 931.4 | |||||
Total Insurance Reserves | 4,478.3 | 4,406.7 | |||||
Unearned Premiums | 672.0 | 618.7 | |||||
Deferred Income Tax Liabilities | 11.9 | — | |||||
Current Income Tax Liabilities | 6.8 | 5.1 | |||||
Long-term Debt, Current and Non-current, at Amortized Cost | 592.2 | 751.6 | |||||
Accrued Expenses and Other Liabilities | 457.4 | 453.2 | |||||
Total Liabilities | 6,218.6 | 6,235.3 | |||||
Shareholders’ Equity: | |||||||
Common Stock | 5.1 | 5.1 | |||||
Paid-in Capital | 672.1 | 660.3 | |||||
Retained Earnings | 1,218.8 | 1,172.8 | |||||
Accumulated Other Comprehensive Income | 186.4 | 137.0 | |||||
Total Shareholders’ Equity | 2,082.4 | 1,975.2 | |||||
Total Liabilities and Shareholders’ Equity | $ | 8,301.0 | $ | 8,210.5 |
Three Months Ended | Nine Months Ended | |||||||||||||||
(Dollars in Millions) | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||
Results of Operations | ||||||||||||||||
Net Premiums Written | $ | 466.7 | $ | 422.7 | $ | 1,336.3 | $ | 1,230.8 | ||||||||
Earned Premiums | $ | 443.5 | $ | 406.9 | $ | 1,283.1 | $ | 1,205.7 | ||||||||
Net Investment Income | 27.8 | 20.4 | 72.5 | 52.0 | ||||||||||||
Other Income | 0.4 | 0.1 | 0.9 | 0.4 | ||||||||||||
Total Revenues | 471.7 | 427.4 | 1,356.5 | 1,258.1 | ||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||
Current Year: | ||||||||||||||||
Non-catastrophe Losses and LAE | 313.1 | 306.7 | 924.5 | 913.3 | ||||||||||||
Catastrophe Losses and LAE | 29.8 | 11.3 | 128.2 | 97.9 | ||||||||||||
Prior Years: | ||||||||||||||||
Non-catastrophe Losses and LAE | 1.6 | 3.1 | 23.0 | (1.3 | ) | |||||||||||
Catastrophe Losses and LAE | (1.2 | ) | (3.9 | ) | (4.4 | ) | (16.2 | ) | ||||||||
Total Incurred Losses and LAE | 343.3 | 317.2 | 1,071.3 | 993.7 | ||||||||||||
Insurance Expenses | 97.6 | 94.6 | 287.4 | 288.8 | ||||||||||||
Operating Income (Loss) | 30.8 | 15.6 | (2.2 | ) | (24.4 | ) | ||||||||||
Income Tax Benefit (Expense) | (7.9 | ) | (3.5 | ) | 7.9 | 14.5 | ||||||||||
Segment Net Operating Income (Loss) | $ | 22.9 | $ | 12.1 | $ | 5.7 | $ | (9.9 | ) | |||||||
Ratios Based On Earned Premiums | ||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 70.6 | % | 75.4 | % | 72.0 | % | 75.7 | % | ||||||||
Current Year Catastrophe Losses and LAE Ratio | 6.7 | 2.8 | 10.0 | 8.1 | ||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.4 | 0.8 | 1.8 | (0.1 | ) | |||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (0.3 | ) | (1.0 | ) | (0.3 | ) | (1.3 | ) | ||||||||
Total Incurred Loss and LAE Ratio | 77.4 | 78.0 | 83.5 | 82.4 | ||||||||||||
Insurance Expense Ratio | 22.0 | 23.2 | 22.4 | 24.0 | ||||||||||||
Combined Ratio | 99.4 | % | 101.2 | % | 105.9 | % | 106.4 | % | ||||||||
Underlying Combined Ratio | ||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 70.6 | % | 75.4 | % | 72.0 | % | 75.7 | % | ||||||||
Insurance Expense Ratio | 22.0 | 23.2 | 22.4 | 24.0 | ||||||||||||
Underlying Combined Ratio | 92.6 | % | 98.6 | % | 94.4 | % | 99.7 | % | ||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||
Underlying Combined Ratio | 92.6 | % | 98.6 | % | 94.4 | % | 99.7 | % | ||||||||
Current Year Catastrophe Losses and LAE Ratio | 6.7 | 2.8 | 10.0 | 8.1 | ||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.4 | 0.8 | 1.8 | (0.1 | ) | |||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (0.3 | ) | (1.0 | ) | (0.3 | ) | (1.3 | ) | ||||||||
Combined Ratio as Reported | 99.4 | % | 101.2 | % | 105.9 | % | 106.4 | % | ||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
(Dollars in Millions) | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||
Results of Operations | ||||||||||||||||
Earned Premiums | $ | 154.7 | $ | 152.0 | $ | 461.0 | $ | 452.9 | ||||||||
Net Investment Income | 55.9 | 54.5 | 163.8 | 159.6 | ||||||||||||
Other Income | 0.7 | 0.7 | 1.9 | 1.9 | ||||||||||||
Total Revenues | 211.3 | 207.2 | 626.7 | 614.4 | ||||||||||||
Policyholders’ Benefits and Incurred Losses and LAE | 96.8 | 173.0 | 293.6 | 368.8 | ||||||||||||
Insurance Expenses | 78.5 | 79.9 | 233.3 | 235.0 | ||||||||||||
Operating Profit (Loss) | 36.0 | (45.7 | ) | 99.8 | 10.6 | |||||||||||
Income Tax Benefit (Expense) | (12.5 | ) | 16.3 | (34.3 | ) | (3.3 | ) | |||||||||
Segment Net Operating Income (Loss) | $ | 23.5 | $ | (29.4 | ) | $ | 65.5 | $ | 7.3 |
Three Months Ended | Nine Months Ended | |||||||||||||||
(Dollars in Millions) (Unaudited) | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||
Consolidated Net Operating Income (Loss) | $ | 44.4 | $ | (20.4 | ) | $ | 61.5 | $ | (16.4 | ) | ||||||
Net Income (Loss) From: | ||||||||||||||||
Net Realized Gains on Sales of Investments | 5.3 | 7.5 | 29.3 | 15.6 | ||||||||||||
Net Impairment Losses Recognized in Earnings | (1.9 | ) | (5.4 | ) | (6.8 | ) | (15.6 | ) | ||||||||
Income (Loss) from Continuing Operations | $ | 47.8 | $ | (18.3 | ) | $ | 84.0 | $ | (16.4 | ) |
Three Months Ended | Nine Months Ended | |||||||||||||||
(Unaudited) | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||
Diluted Consolidated Net Operating Income (Loss) Per Unrestricted Share | $ | 0.85 | $ | (0.40 | ) | $ | 1.19 | $ | (0.31 | ) | ||||||
Net Income (Loss) Per Unrestricted Share From: | ||||||||||||||||
Net Realized Gains on Sales of Investments | 0.10 | 0.15 | 0.56 | 0.30 | ||||||||||||
Net Impairment Losses Recognized in Earnings | (0.03 | ) | (0.11 | ) | (0.13 | ) | (0.30 | ) | ||||||||
Diluted Income (Loss) from Continuing Operations Per Unrestricted Share | $ | 0.92 | $ | (0.36 | ) | $ | 1.62 | $ | (0.31 | ) |
(Dollars in Millions) (Unaudited) | Sep 30, 2017 | Dec 31, 2016 | ||||||
Shareholders’ Equity Excluding Net Unrealized Gains on Fixed Maturities | $ | 1,845.3 | $ | 1,794.6 | ||||
Net Unrealized Gains on Fixed Maturities | 237.1 | 180.6 | ||||||
Shareholders’ Equity | $ | 2,082.4 | $ | 1,975.2 |
• | Offer insurance for home, auto, life, health and valuables |
• | Service six million policies |
• | Are represented by more than 20,000 independent agents and brokers |
• | Employ 5,750 associates dedicated to providing exceptional service |
• | Are licensed to sell insurance in 50 states and the District of Columbia |
Contact | |
Investors: Todd Barton | 312.661.4930 or investors@kemper.com |
Page | |
Consolidated Financial Highlights | 3 |
Consolidated Statements of Operations | 4 |
Consolidated Balance Sheets | 5 |
Consolidated Statements of Cash Flows | 6-7 |
Capital Metrics | 8 |
Debt Outstanding and Ratings | 9 |
Segment Summary Results: | |
Revenues | 10 |
Operating Profit (Loss) | 11 |
Net Operating Income (Loss) | 11 |
Earned Premiums by Product | 12 |
Net Investment Income by Segment | 12 |
Catastrophe Frequency and Severity | 13 |
Property & Casualty Insurance Segment - Results of Operations and Selected Financial Information | 14-15 |
Property & Casualty Insurance Segment - Results of Operations and Selected Financial Information by Product: | |
Preferred Personal Automobile Insurance | 16 |
Non-standard Personal Automobile Insurance | 17 |
Total Personal Automobile Insurance | 18 |
Commercial Automobile Insurance | 19 |
Total Automobile Insurance | 20 |
Homeowners Insurance | 21 |
Other Personal Lines | 22 |
Life & Health Insurance Segment - Results of Operations and Selected Financial Information | 23 |
Life Insurance | 24 |
Accident and Health Insurance | 24 |
Property Insurance | 25 |
Insurance Expenses and Interest and Other Expenses | 26 |
Details of Investment Performance | 27 |
Details of Invested Assets | 28 |
Investment Concentration | 29 |
Municipal Bond Securities | 30 |
Investments in Limited Liability Companies and Limited Partnerships | 31 |
Definitions of Non-GAAP Financial Measures | 32-33 |
Kemper Corporation Consolidated Financial Highlights (Dollars in Millions, Except Per Share Amounts) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
For Period Ended | ||||||||||||||||||||||||||||||||||||
Earned Premiums | $ | 598.2 | $ | 582.5 | $ | 563.4 | $ | 561.4 | $ | 558.9 | $ | 553.7 | $ | 546.0 | $ | 1,744.1 | $ | 1,658.6 | ||||||||||||||||||
Net Investment Income | 85.9 | 77.1 | 81.6 | 79.9 | 77.7 | 73.7 | 67.0 | 244.6 | 218.4 | |||||||||||||||||||||||||||
Net Investment Gains (Losses) and Other Income | 6.2 | 24.8 | 6.4 | 1.4 | 4.1 | (0.2 | ) | (1.7 | ) | 37.4 | 2.2 | |||||||||||||||||||||||||
Total Revenues | $ | 690.3 | $ | 684.4 | $ | 651.4 | $ | 642.7 | $ | 640.7 | $ | 627.2 | $ | 611.3 | $ | 2,026.1 | $ | 1,879.2 | ||||||||||||||||||
Consolidated Net Operating Income (Loss) 1 | $ | 44.4 | $ | 21.0 | $ | (3.9 | ) | $ | 28.8 | $ | (20.4 | ) | $ | 4.6 | $ | (0.6 | ) | $ | 61.5 | $ | (16.4 | ) | ||||||||||||||
Income (Loss) from Continuing Operations | $ | 47.8 | $ | 36.6 | $ | (0.4 | ) | $ | 29.1 | $ | (18.3 | ) | $ | 4.1 | $ | (2.2 | ) | $ | 84.0 | $ | (16.4 | ) | ||||||||||||||
Net Income (Loss) | $ | 47.7 | $ | 36.6 | $ | (0.3 | ) | $ | 31.2 | $ | (16.3 | ) | $ | 4.0 | $ | (2.1 | ) | $ | 84.0 | $ | (14.4 | ) | ||||||||||||||
Per Unrestricted Common Share Amounts: | ||||||||||||||||||||||||||||||||||||
Basic: | ||||||||||||||||||||||||||||||||||||
Consolidated Net Operating Income (Loss) 1 | $ | 0.85 | $ | 0.41 | $ | (0.08 | ) | $ | 0.56 | $ | (0.40 | ) | $ | 0.09 | $ | (0.01 | ) | $ | 1.19 | $ | (0.31 | ) | ||||||||||||||
Income (Loss) from Continuing Operations | $ | 0.92 | $ | 0.71 | $ | (0.01 | ) | $ | 0.56 | $ | (0.36 | ) | $ | 0.08 | $ | (0.04 | ) | $ | 1.63 | $ | (0.31 | ) | ||||||||||||||
Net Income (Loss) | $ | 0.92 | $ | 0.71 | $ | (0.01 | ) | $ | 0.60 | $ | (0.32 | ) | $ | 0.08 | $ | (0.04 | ) | $ | 1.63 | $ | (0.27 | ) | ||||||||||||||
Diluted: | ||||||||||||||||||||||||||||||||||||
Consolidated Net Operating Income (Loss) 1 | $ | 0.85 | $ | 0.41 | $ | (0.08 | ) | $ | 0.56 | $ | (0.40 | ) | $ | 0.09 | $ | (0.01 | ) | $ | 1.19 | $ | (0.31 | ) | ||||||||||||||
Income (Loss) from Continuing Operations | $ | 0.92 | $ | 0.71 | $ | (0.01 | ) | $ | 0.56 | $ | (0.36 | ) | $ | 0.08 | $ | (0.04 | ) | $ | 1.62 | $ | (0.31 | ) | ||||||||||||||
Net Income (Loss) | $ | 0.92 | $ | 0.71 | $ | (0.01 | ) | $ | 0.60 | $ | (0.32 | ) | $ | 0.08 | $ | (0.04 | ) | $ | 1.62 | $ | (0.27 | ) | ||||||||||||||
Dividends Paid to Shareholders Per Share | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.72 | $ | 0.72 | ||||||||||||||||||
At Period End | ||||||||||||||||||||||||||||||||||||
Total Assets | $ | 8,301.0 | $ | 8,211.4 | $ | 8,306.8 | $ | 8,210.5 | $ | 8,390.3 | $ | 8,305.9 | $ | 8,169.7 | ||||||||||||||||||||||
Insurance Reserves | $ | 4,478.3 | $ | 4,466.7 | $ | 4,473.4 | $ | 4,406.7 | $ | 4,382.2 | $ | 4,293.6 | $ | 4,258.8 | ||||||||||||||||||||||
Debt | $ | 592.2 | $ | 592.1 | $ | 751.8 | $ | 751.6 | $ | 751.3 | $ | 751.1 | $ | 750.9 | ||||||||||||||||||||||
Shareholders’ Equity | $ | 2,082.4 | $ | 2,033.4 | $ | 1,983.6 | $ | 1,975.2 | $ | 2,073.6 | $ | 2,105.2 | $ | 2,041.1 | ||||||||||||||||||||||
Shareholders’ Equity Excluding Goodwill | $ | 1,759.4 | $ | 1,710.4 | $ | 1,660.6 | $ | 1,652.2 | $ | 1,750.6 | $ | 1,782.2 | $ | 1,718.1 | ||||||||||||||||||||||
Common Shares Issued and Outstanding (In Millions) | 51.448 | 51.294 | 51.295 | 51.271 | 51.185 | 51.133 | 51.133 | |||||||||||||||||||||||||||||
Book Value Per Share2 | $ | 40.48 | $ | 39.64 | $ | 38.67 | $ | 38.52 | $ | 40.51 | $ | 41.17 | $ | 39.92 | ||||||||||||||||||||||
Book Value Per Share Excluding Goodwill1,2 | $ | 34.20 | $ | 33.35 | $ | 32.37 | $ | 32.22 | $ | 34.20 | $ | 34.85 | $ | 33.60 | ||||||||||||||||||||||
Book Value Per Share Excluding Net Unrealized Gains on Fixed Maturities1,2 | $ | 35.87 | $ | 35.13 | $ | 34.81 | $ | 35.00 | $ | 34.27 | $ | 34.78 | $ | 34.97 | ||||||||||||||||||||||
Debt to Total Capitalization2 | 22.1 | % | 22.6 | % | 27.5 | % | 27.6 | % | 26.6 | % | 26.3 | % | 26.9 | % | ||||||||||||||||||||||
Rolling 12 Months Return on 5-point Average Shareholders Equity2,3 | 5.7 | % | 2.5 | % | 0.9 | % | 0.8 | % | (0.5 | )% | 2.2 | % | 3.4 | % | ||||||||||||||||||||||
1 Non-GAAP Measure. See page 32 for definition. | ||||||||||||||||||||||||||||||||||||
2 See Capital Metrics on page 8 for detail calculations. | ||||||||||||||||||||||||||||||||||||
3 Rolling 12 Months Return on 5-point Average Shareholders Equity is calculated by taking the last 12 months of Net Income (Loss) divided by the 5-point average Shareholders’ Equity. The 5-point Average Shareholders’ Equity is calculated by using a 5-point quarter average of Shareholders’ Equity for the 12 month period. |
Kemper Corporation Consolidated Statements of Operations (Dollars in Millions, Except Per Share Amounts) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||||||||||
Earned Premiums | $ | 598.2 | $ | 582.5 | $ | 563.4 | $ | 561.4 | $ | 558.9 | $ | 553.7 | $ | 546.0 | $ | 1,744.1 | $ | 1,658.6 | ||||||||||||||||||
Net Investment Income | 85.9 | 77.1 | 81.6 | 79.9 | 77.7 | 73.7 | 67.0 | 244.6 | 218.4 | |||||||||||||||||||||||||||
Other Income | 1.0 | 1.0 | 0.9 | 1.0 | 0.8 | 0.6 | 0.8 | 2.9 | 2.2 | |||||||||||||||||||||||||||
Net Realized Gains on Sales of Investments | 8.1 | 26.4 | 10.5 | 9.1 | 11.6 | 5.6 | 6.8 | 45.0 | 24.0 | |||||||||||||||||||||||||||
Other-than-temporary Impairment Losses: | ||||||||||||||||||||||||||||||||||||
Total Other-than-temporary Impairment Losses | (2.9 | ) | (2.6 | ) | (5.2 | ) | (8.7 | ) | (8.3 | ) | (6.4 | ) | (9.6 | ) | (10.7 | ) | (24.3 | ) | ||||||||||||||||||
Portion of Losses Recognized in Other Comprehensive Income | — | — | 0.2 | — | — | — | 0.3 | 0.2 | 0.3 | |||||||||||||||||||||||||||
Net Impairment Losses Recognized in Earnings | (2.9 | ) | (2.6 | ) | (5.0 | ) | (8.7 | ) | (8.3 | ) | (6.4 | ) | (9.3 | ) | (10.5 | ) | (24.0 | ) | ||||||||||||||||||
Total Revenues | 690.3 | 684.4 | 651.4 | 642.7 | 640.7 | 627.2 | 611.3 | 2,026.1 | 1,879.2 | |||||||||||||||||||||||||||
Expenses: | ||||||||||||||||||||||||||||||||||||
Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses | 440.1 | 447.4 | 477.4 | 418.3 | 490.2 | 436.1 | 436.2 | 1,364.9 | 1,362.5 | |||||||||||||||||||||||||||
Insurance Expenses | 163.7 | 163.5 | 158.0 | 158.5 | 161.7 | 167.8 | 159.3 | 485.2 | 488.8 | |||||||||||||||||||||||||||
Interest and Other Expenses | 18.2 | 21.4 | 19.5 | 25.3 | 22.0 | 20.7 | 22.3 | 59.1 | 65.0 | |||||||||||||||||||||||||||
Total Expenses | 622.0 | 632.3 | 654.9 | 602.1 | 673.9 | 624.6 | 617.8 | 1,909.2 | 1,916.3 | |||||||||||||||||||||||||||
Income (Loss) from Continuing Operations before Income Taxes | 68.3 | 52.1 | (3.5 | ) | 40.6 | (33.2 | ) | 2.6 | (6.5 | ) | 116.9 | (37.1 | ) | |||||||||||||||||||||||
Income Tax Benefit (Expense) | (20.5 | ) | (15.5 | ) | 3.1 | (11.5 | ) | 14.9 | 1.5 | 4.3 | (32.9 | ) | 20.7 | |||||||||||||||||||||||
Income (Loss) from Continuing Operations | 47.8 | 36.6 | (0.4 | ) | 29.1 | (18.3 | ) | 4.1 | (2.2 | ) | 84.0 | (16.4 | ) | |||||||||||||||||||||||
Discontinued Operations: | ||||||||||||||||||||||||||||||||||||
Income (Loss) from Discontinued Operations before Income Taxes | (0.1 | ) | — | 0.1 | 3.2 | 3.1 | (0.1 | ) | 0.1 | — | 3.1 | |||||||||||||||||||||||||
Income Tax Expense | — | — | — | (1.1 | ) | (1.1 | ) | — | — | — | (1.1 | ) | ||||||||||||||||||||||||
Income (Loss) from Discontinued Operations | (0.1 | ) | — | 0.1 | 2.1 | 2.0 | (0.1 | ) | 0.1 | — | 2.0 | |||||||||||||||||||||||||
Net Income (Loss) | $ | 47.7 | $ | 36.6 | $ | (0.3 | ) | $ | 31.2 | $ | (16.3 | ) | $ | 4.0 | $ | (2.1 | ) | $ | 84.0 | $ | (14.4 | ) | ||||||||||||||
Income (Loss) from Continuing Operations Per Unrestricted Share: | ||||||||||||||||||||||||||||||||||||
Basic | $ | 0.92 | $ | 0.71 | $ | (0.01 | ) | $ | 0.56 | $ | (0.36 | ) | $ | 0.08 | $ | (0.04 | ) | $ | 1.63 | $ | (0.31 | ) | ||||||||||||||
Diluted | $ | 0.92 | $ | 0.71 | $ | (0.01 | ) | $ | 0.56 | $ | (0.36 | ) | $ | 0.08 | $ | (0.04 | ) | $ | 1.62 | $ | (0.31 | ) | ||||||||||||||
Net Income (Loss) Per Unrestricted Share: | ||||||||||||||||||||||||||||||||||||
Basic | $ | 0.92 | $ | 0.71 | $ | (0.01 | ) | $ | 0.60 | $ | (0.32 | ) | $ | 0.08 | $ | (0.04 | ) | $ | 1.63 | $ | (0.27 | ) | ||||||||||||||
Diluted | $ | 0.92 | $ | 0.71 | $ | (0.01 | ) | $ | 0.60 | $ | (0.32 | ) | $ | 0.08 | $ | (0.04 | ) | $ | 1.62 | $ | (0.27 | ) | ||||||||||||||
Dividends Paid to Shareholders Per Share | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.24 | $ | 0.72 | $ | 0.72 | ||||||||||||||||||
Weighted Average Unrestricted Common Shares Outstanding (in Millions) | 51.367 | 51.286 | 51.273 | 51.203 | 51.123 | 51.108 | 51.192 | 51.309 | 51.141 | |||||||||||||||||||||||||||
Kemper Corporation Consolidated Balance Sheets (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | ||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||
Investments: | ||||||||||||||||||||||||||||
Fixed Maturities at Fair Value | $ | 5,242.8 | $ | 5,263.9 | $ | 5,240.3 | $ | 5,124.9 | $ | 5,170.1 | $ | 5,084.3 | $ | 4,917.4 | ||||||||||||||
Equity Securities at Fair Value | 512.1 | 500.0 | 497.4 | 481.7 | 504.9 | 509.6 | 501.3 | |||||||||||||||||||||
Equity Method Limited Liability Investments at Cost Plus Cumulative Undistributed Earnings | 160.1 | 152.8 | 157.4 | 175.9 | 181.1 | 182.7 | 190.5 | |||||||||||||||||||||
Fair Value Option Investments | 77.1 | 77.0 | 90.5 | 111.4 | 126.1 | 134.1 | 161.9 | |||||||||||||||||||||
Short-term Investments at Cost which Approximates Fair Value | 239.0 | 129.9 | 244.6 | 273.7 | 324.2 | 365.2 | 367.4 | |||||||||||||||||||||
Other Investments | 420.0 | 430.0 | 437.7 | 439.9 | 438.8 | 440.8 | 443.8 | |||||||||||||||||||||
Total Investments | 6,651.1 | 6,553.6 | 6,667.9 | 6,607.5 | 6,745.2 | 6,716.7 | 6,582.3 | |||||||||||||||||||||
Cash | 137.6 | 160.9 | 120.0 | 115.7 | 171.1 | 159.8 | 160.4 | |||||||||||||||||||||
Receivables from Policyholders | 374.8 | 353.7 | 347.9 | 336.5 | 348.1 | 337.2 | 341.1 | |||||||||||||||||||||
Other Receivables | 182.4 | 190.1 | 206.1 | 198.6 | 197.9 | 192.7 | 193.9 | |||||||||||||||||||||
Deferred Policy Acquisition Costs | 361.7 | 348.5 | 339.9 | 332.0 | 328.2 | 321.9 | 319.3 | |||||||||||||||||||||
Goodwill | 323.0 | 323.0 | 323.0 | 323.0 | 323.0 | 323.0 | 323.0 | |||||||||||||||||||||
Current Income Tax Assets | 0.9 | 7.4 | 10.1 | 15.5 | 28.5 | 20.9 | 15.5 | |||||||||||||||||||||
Deferred Income Tax Assets | — | 5.4 | 26.4 | 25.8 | — | — | — | |||||||||||||||||||||
Other Assets | 269.5 | 268.8 | 265.5 | 255.9 | 248.3 | 233.7 | 234.2 | |||||||||||||||||||||
Total Assets | $ | 8,301.0 | $ | 8,211.4 | $ | 8,306.8 | $ | 8,210.5 | $ | 8,390.3 | $ | 8,305.9 | $ | 8,169.7 | ||||||||||||||
Liabilities and Shareholders’ Equity: | ||||||||||||||||||||||||||||
Insurance Reserves: | ||||||||||||||||||||||||||||
Life and Health | $ | 3,509.8 | $ | 3,499.7 | $ | 3,489.0 | $ | 3,475.3 | $ | 3,461.5 | $ | 3,376.2 | $ | 3,358.4 | ||||||||||||||
Property and Casualty | 968.5 | 967.0 | 984.4 | 931.4 | 920.7 | 917.4 | 900.4 | |||||||||||||||||||||
Total Insurance Reserves | 4,478.3 | 4,466.7 | 4,473.4 | 4,406.7 | 4,382.2 | 4,293.6 | 4,258.8 | |||||||||||||||||||||
Unearned Premiums | 672.0 | 650.5 | 640.1 | 618.7 | 637.0 | 622.6 | 621.6 | |||||||||||||||||||||
Deferred Income Tax Liabilities | 11.9 | — | — | — | 29.5 | 38.6 | 6.5 | |||||||||||||||||||||
Liability for Unrecognized Tax Benefits | 6.8 | 7.0 | 6.9 | 5.1 | 3.7 | 3.8 | 3.7 | |||||||||||||||||||||
Long-term Debt, Current and Non-current, at Amortized Cost | 592.2 | 592.1 | 751.8 | 751.6 | 751.3 | 751.1 | 750.9 | |||||||||||||||||||||
Accrued Expenses and Other Liabilities | 457.4 | 461.7 | 451.0 | 453.2 | 513.0 | 491.0 | 487.1 | |||||||||||||||||||||
Total Liabilities | 6,218.6 | 6,178.0 | 6,323.2 | 6,235.3 | 6,316.7 | 6,200.7 | 6,128.6 | |||||||||||||||||||||
Shareholders’ Equity: | ||||||||||||||||||||||||||||
Common Stock | 5.1 | 5.1 | 5.1 | 5.1 | 5.1 | 5.1 | 5.1 | |||||||||||||||||||||
Paid-in Capital | 672.1 | 666.9 | 663.7 | 660.3 | 656.9 | 654.6 | 652.6 | |||||||||||||||||||||
Retained Earnings | 1,218.8 | 1,184.8 | 1,160.7 | 1,172.8 | 1,155.5 | 1,184.4 | 1,192.7 | |||||||||||||||||||||
Accumulated Other Comprehensive Income | 186.4 | 176.6 | 154.1 | 137.0 | 256.1 | 261.1 | 190.7 | |||||||||||||||||||||
Total Shareholders’ Equity | 2,082.4 | 2,033.4 | 1,983.6 | 1,975.2 | 2,073.6 | 2,105.2 | 2,041.1 | |||||||||||||||||||||
Total Liabilities and Shareholders’ Equity | $ | 8,301.0 | $ | 8,211.4 | $ | 8,306.8 | $ | 8,210.5 | $ | 8,390.3 | $ | 8,305.9 | $ | 8,169.7 |
Kemper Corporation Consolidated Statements of Cash Flows (Dollars in Millions) (Unaudited) | ||||||||
Nine Months Ended | ||||||||
Sep 30, 2017 | Sep 30, 2016 | |||||||
Operating Activities: | ||||||||
Net Income | $ | 84.0 | $ | (14.4 | ) | |||
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ||||||||
Amortization of Intangible Assets Acquired | 3.9 | 4.5 | ||||||
Equity in Earnings of Equity Method Limited Liability Investments | (21.9 | ) | (3.3 | ) | ||||
Distribution of Accumulated Earnings of Equity Method Limited Liability Investments | 15.9 | 10.3 | ||||||
Decrease (Increase) in Value of Fair Value Option Investments Reported in Net Investment Income | (0.9 | ) | 3.9 | |||||
Amortization of Investment Securities and Depreciation of Investment Real Estate | 12.8 | 11.7 | ||||||
Net Realized Gains on Sales of Investments | (45.0 | ) | (24.0 | ) | ||||
Net Impairment Losses Recognized in Earnings | 10.5 | 24.0 | ||||||
Depreciation of Property and Equipment | 9.8 | 10.5 | ||||||
Increase in Receivables | (27.2 | ) | (23.8 | ) | ||||
Increase in Deferred Policy Acquisition Costs | (29.6 | ) | (11.8 | ) | ||||
Increase in Insurance Reserves | 71.4 | 177.6 | ||||||
Increase in Unearned Premiums | 53.3 | 23.9 | ||||||
Change in Income Taxes | 27.4 | (30.2 | ) | |||||
Change in Accrued Expenses and Other Liabilities | (1.5 | ) | 2.0 | |||||
Other, Net | 1.6 | 9.6 | ||||||
Net Cash Provided by Operating Activities (Carryforward to page 7) | 164.5 | 170.5 |
Kemper Corporation Consolidated Statements of Cash Flows (Dollars in Millions) (Unaudited) | ||||||||
Nine Months Ended | ||||||||
Sep 30, 2017 | Sep 30, 2016 | |||||||
Net Cash Provided by Operating Activities (Carryforward from page 6) | 164.5 | 170.5 | ||||||
Investing Activities: | ||||||||
Sales, Paydowns and Maturities of Fixed Maturities | 367.7 | 422.4 | ||||||
Purchases of Fixed Maturities | (401.8 | ) | (539.8 | ) | ||||
Sales of Equity Securities | 230.3 | 107.2 | ||||||
Purchases of Equity Securities | (233.5 | ) | (64.8 | ) | ||||
Return of Investment of Equity Method Limited Liability Investments | 36.3 | 22.6 | ||||||
Acquisitions of Equity Method Limited Liability Investments | (14.5 | ) | (20.2 | ) | ||||
Sales of Fair Value Option Investments | 42.2 | 50.5 | ||||||
Decrease (Increase) in Short-term Investments | 40.4 | (68.5 | ) | |||||
Improvements of Investment Real Estate | (1.3 | ) | (1.8 | ) | ||||
Sales of Investment Real Estate | 26.2 | 7.5 | ||||||
Increase in Other Investments | (1.3 | ) | (3.4 | ) | ||||
Acquisition of Software | (28.8 | ) | (8.8 | ) | ||||
Other, Net | (4.4 | ) | (2.0 | ) | ||||
Net Cash Provided (Used) by Investing Activities | 50.5 | (122.6 | ) | |||||
Financing Activities: | ||||||||
Net Proceeds from Issuances of Long-term Debt | 200.2 | — | ||||||
Repayments of Long-term Debt | (360.0 | ) | — | |||||
Common Stock Repurchases | — | (3.8 | ) | |||||
Dividends and Dividend Equivalents Paid | (37.1 | ) | (36.9 | ) | ||||
Cash Exercise of Stock Options | 3.7 | 1.2 | ||||||
Other, Net | 0.1 | 1.0 | ||||||
Net Cash Used by Financing Activities | (193.1 | ) | (38.5 | ) | ||||
Increase (Decrease) in Cash | 21.9 | 9.4 | ||||||
Cash, Beginning of Year | 115.7 | 161.7 | ||||||
Cash, End of Period | $ | 137.6 | $ | 171.1 | ||||
Kemper Corporation Capital Metrics (Dollars and Shares in Millions, Except Per Share Amounts) (Unaudited) | ||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | ||||||||||||||||||||||
Book Value Per Share | ||||||||||||||||||||||||||||
Numerator | ||||||||||||||||||||||||||||
Shareholders’ Equity | $ | 2,082.4 | $ | 2,033.4 | $ | 1,983.6 | $ | 1,975.2 | $ | 2,073.6 | $ | 2,105.2 | $ | 2,041.1 | ||||||||||||||
Less: Goodwill | (323.0 | ) | (323.0 | ) | (323.0 | ) | (323.0 | ) | (323.0 | ) | (323.0 | ) | (323.0 | ) | ||||||||||||||
Shareholders’ Equity Excluding Goodwill | $ | 1,759.4 | $ | 1,710.4 | $ | 1,660.6 | $ | 1,652.2 | $ | 1,750.6 | $ | 1,782.2 | $ | 1,718.1 | ||||||||||||||
Shareholders’ Equity | $ | 2,082.4 | $ | 2,033.4 | $ | 1,983.6 | $ | 1,975.2 | $ | 2,073.6 | $ | 2,105.2 | $ | 2,041.1 | ||||||||||||||
Less: Net Unrealized Gains on Fixed Maturities | (237.1 | ) | (231.4 | ) | (198.2 | ) | (180.6 | ) | (319.3 | ) | (327.0 | ) | (253.0 | ) | ||||||||||||||
Shareholders’ Equity Excluding Net Unrealized Gains on Fixed Maturities | $ | 1,845.3 | $ | 1,802.0 | $ | 1,785.4 | $ | 1,794.6 | $ | 1,754.3 | $ | 1,778.2 | $ | 1,788.1 | ||||||||||||||
Denominator | ||||||||||||||||||||||||||||
Common Shares Issued and Outstanding | 51.448 | 51.294 | 51.295 | 51.271 | 51.185 | 51.133 | 51.133 | |||||||||||||||||||||
Book Value Per Share | $ | 40.48 | $ | 39.64 | $ | 38.67 | $ | 38.52 | $ | 40.51 | $ | 41.17 | $ | 39.92 | ||||||||||||||
Book Value Per Share Excluding Goodwill | $ | 34.20 | $ | 33.35 | $ | 32.37 | $ | 32.22 | $ | 34.20 | $ | 34.85 | $ | 33.60 | ||||||||||||||
Book Value Per Share Excluding Unrealized on Fixed Maturities | $ | 35.87 | $ | 35.13 | $ | 34.81 | $ | 35.00 | $ | 34.27 | $ | 34.78 | $ | 34.97 | ||||||||||||||
Return on Shareholders’ Equity | ||||||||||||||||||||||||||||
Numerator | ||||||||||||||||||||||||||||
Rolling 12 Months Net Income | $ | 115.2 | $ | 51.2 | $ | 18.6 | $ | 16.8 | $ | (9.8 | ) | $ | 44.4 | $ | 70.1 | |||||||||||||
Denominator (5-point Average) | ||||||||||||||||||||||||||||
5-point Average Shareholders’ Equity | $ | 2,029.6 | $ | 2,034.2 | $ | 2,035.7 | $ | 2,037.5 | $ | 2,047.4 | $ | 2,035.1 | $ | 2,036.1 | ||||||||||||||
Rolling 12 Months Return on Average Shareholders' Equity (5-point Average) | 5.7 | % | 2.5 | % | 0.9 | % | 0.8 | % | (0.5 | )% | 2.2 | % | 3.4 | % | ||||||||||||||
Debt and Total Capitalization | ||||||||||||||||||||||||||||
Debt | $ | 592.2 | $ | 592.1 | $ | 751.8 | $ | 751.6 | $ | 751.3 | $ | 751.1 | $ | 750.9 | ||||||||||||||
Shareholders’ Equity | 2,082.4 | 2,033.4 | 1,983.6 | 1,975.2 | 2,073.6 | 2,105.2 | 2,041.1 | |||||||||||||||||||||
Total Capitalization | $ | 2,674.6 | $ | 2,625.5 | $ | 2,735.4 | $ | 2,726.8 | $ | 2,824.9 | $ | 2,856.3 | $ | 2,792.0 | ||||||||||||||
Ratio of Debt to Shareholders’ Equity | 28.4 | % | 29.1 | % | 37.9 | % | 38.1 | % | 36.2 | % | 35.7 | % | 36.8 | % | ||||||||||||||
Ratio of Debt to Total Capitalization | 22.1 | % | 22.6 | % | 27.5 | % | 27.6 | % | 26.6 | % | 26.3 | % | 26.9 | % | ||||||||||||||
Parent Company Liquidity | ||||||||||||||||||||||||||||
Kemper Holding Company Cash and Investments | $ | 188.2 | $ | 188.4 | $ | 288.2 | $ | 298.7 | $ | 310.3 | $ | 344.2 | $ | 295.7 | ||||||||||||||
Borrowings Available Under Credit Agreement | 225.0 | 225.0 | 225.0 | 225.0 | 225.0 | 225.0 | 225.0 | |||||||||||||||||||||
Parent Company Liquidity | $ | 413.2 | $ | 413.4 | $ | 513.2 | $ | 523.7 | $ | 535.3 | $ | 569.2 | $ | 520.7 | ||||||||||||||
Capital Returned to Shareholders | ||||||||||||||||||||||||||||
Common Stock Repurchased | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3.8 | ||||||||||||||
Cash Dividends Paid | 12.4 | 12.4 | 12.3 | 12.3 | 12.4 | 12.3 | 12.2 | |||||||||||||||||||||
Total Capital Returned to Shareholders | $ | 12.4 | $ | 12.4 | $ | 12.3 | $ | 12.3 | $ | 12.4 | $ | 12.3 | $ | 16.0 |
Kemper Corporation Debt Outstanding and Ratings (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | ||||||||||||||||||||||
Kemper Corporation: | ||||||||||||||||||||||||||||
Notes Payable under Revolving Credit Agreement | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Senior Notes at Amortized Cost: | ||||||||||||||||||||||||||||
6.00% Senior Notes due May 15, 2017 | — | — | 359.9 | 359.8 | 359.6 | 359.4 | 359.3 | |||||||||||||||||||||
4.35% Senior Notes due February 15, 2025 | 448.1 | 448.0 | 247.8 | 247.7 | 247.6 | 247.6 | 247.5 | |||||||||||||||||||||
7.375% Subordinated Debentures due February 27, 2054 at Amortized Cost | 144.1 | 144.1 | 144.1 | 144.1 | 144.1 | 144.1 | 144.1 | |||||||||||||||||||||
Debt Outstanding | $ | 592.2 | $ | 592.1 | $ | 751.8 | $ | 751.6 | $ | 751.3 | $ | 751.1 | $ | 750.9 | ||||||||||||||
Subsidiary Debt: | ||||||||||||||||||||||||||||
Federal Home Loan Bank of Dallas | — | — | — | — | — | — | — | |||||||||||||||||||||
Federal Home Loan Bank of Chicago | — | — | — | — | — | — | — | |||||||||||||||||||||
A.M. Best | Moody’s | S&P | Fitch | |||||||||||||||||||||||||
As of Date of Financial Supplement | ||||||||||||||||||||||||||||
Kemper Debt Ratings: | ||||||||||||||||||||||||||||
Senior Notes Payable | bbb- | Baa3 | BBB- | BBB- | ||||||||||||||||||||||||
Subordinated Debentures | bb+ | Ba1 | BB | BB | ||||||||||||||||||||||||
Insurance Company Financial Strength Ratings: | ||||||||||||||||||||||||||||
Trinity Universal Insurance Company | A- | A3 | A- | A- | ||||||||||||||||||||||||
United Insurance Company of America | A- | A3 | A- | A- | ||||||||||||||||||||||||
Reserve National Insurance Company | A- | NR | NR | NR |
Kemper Corporation Segment Revenues (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||||||||||
Property & Casualty Insurance: | ||||||||||||||||||||||||||||||||||||
Earned Premiums: | ||||||||||||||||||||||||||||||||||||
Personal Automobile | $ | 353.0 | $ | 339.1 | $ | 320.7 | $ | 317.2 | $ | 313.8 | $ | 310.3 | $ | 303.3 | $ | 1,012.8 | $ | 927.4 | ||||||||||||||||||
Homeowners | 66.7 | 66.6 | 66.3 | 67.7 | 68.5 | 67.6 | 68.1 | 199.6 | 204.2 | |||||||||||||||||||||||||||
Other Personal | 10.7 | 10.8 | 10.7 | 11.1 | 11.3 | 11.3 | 11.3 | 32.2 | 33.9 | |||||||||||||||||||||||||||
Total Personal | 430.4 | 416.5 | 397.7 | 396.0 | 393.6 | 389.2 | 382.7 | 1,244.6 | 1,165.5 | |||||||||||||||||||||||||||
Commercial Automobile | 13.1 | 12.7 | 12.7 | 13.1 | 13.3 | 13.4 | 13.5 | 38.5 | 40.2 | |||||||||||||||||||||||||||
Total Earned Premiums | 443.5 | 429.2 | 410.4 | 409.1 | 406.9 | 402.6 | 396.2 | 1,283.1 | 1,205.7 | |||||||||||||||||||||||||||
Net Investment Income | 27.8 | 20.6 | 24.1 | 20.4 | 20.4 | 19.7 | 11.9 | 72.5 | 52.0 | |||||||||||||||||||||||||||
Other Income | 0.4 | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.9 | 0.4 | |||||||||||||||||||||||||||
Total Property & Casualty Insurance | 471.7 | 450.1 | 434.7 | 429.6 | 427.4 | 422.4 | 408.3 | 1,356.5 | 1,258.1 | |||||||||||||||||||||||||||
Life & Health Insurance: | ||||||||||||||||||||||||||||||||||||
Earned Premiums: | ||||||||||||||||||||||||||||||||||||
Life | 94.5 | 95.4 | 95.7 | 95.9 | 95.8 | 95.5 | 94.4 | 285.6 | 285.7 | |||||||||||||||||||||||||||
Accident and Health | 42.0 | 39.5 | 39.1 | 38.2 | 37.6 | 36.7 | 36.9 | 120.6 | 111.2 | |||||||||||||||||||||||||||
Property | 18.2 | 18.4 | 18.2 | 18.2 | 18.6 | 18.9 | 18.5 | 54.8 | 56.0 | |||||||||||||||||||||||||||
Total Earned Premiums | 154.7 | 153.3 | 153.0 | 152.3 | 152.0 | 151.1 | 149.8 | 461.0 | 452.9 | |||||||||||||||||||||||||||
Net Investment Income | 55.9 | 54.9 | 53.0 | 53.6 | 54.5 | 50.1 | 55.0 | 163.8 | 159.6 | |||||||||||||||||||||||||||
Other Income | 0.7 | 0.6 | 0.6 | 0.9 | 0.7 | 0.6 | 0.6 | 1.9 | 1.9 | |||||||||||||||||||||||||||
Total Life & Health Insurance | 211.3 | 208.8 | 206.6 | 206.8 | 207.2 | 201.8 | 205.4 | 626.7 | 614.4 | |||||||||||||||||||||||||||
Total Segment Revenues | 683.0 | 658.9 | 641.3 | 636.4 | 634.6 | 624.2 | 613.7 | 1,983.2 | 1,872.5 | |||||||||||||||||||||||||||
Net Realized Gains on Sales of Investments | 8.1 | 26.4 | 10.5 | 9.1 | 11.6 | 5.6 | 6.8 | 45.0 | 24.0 | |||||||||||||||||||||||||||
Net Impairment Losses Recognized in Earnings | (2.9 | ) | (2.6 | ) | (5.0 | ) | (8.7 | ) | (8.3 | ) | (6.4 | ) | (9.3 | ) | (10.5 | ) | (24.0 | ) | ||||||||||||||||||
Other | 2.1 | 1.7 | 4.6 | 5.9 | 2.8 | 3.8 | 0.1 | 8.4 | 6.7 | |||||||||||||||||||||||||||
Total Revenues | $ | 690.3 | $ | 684.4 | $ | 651.4 | $ | 642.7 | $ | 640.7 | $ | 627.2 | $ | 611.3 | $ | 2,026.1 | $ | 1,879.2 | ||||||||||||||||||
Kemper Corporation Segment Operating Results (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Segment Operating Profit (Loss): | ||||||||||||||||||||||||||||||||||||
Property & Casualty Insurance | $ | 30.8 | $ | 4.2 | $ | (37.2 | ) | $ | 7.2 | $ | 15.6 | $ | (17.2 | ) | $ | (22.8 | ) | $ | (2.2 | ) | $ | (24.4 | ) | |||||||||||||
Life & Health Insurance | 36.0 | 31.2 | 32.6 | 35.1 | (45.7 | ) | 25.3 | 31.0 | 99.8 | 10.6 | ||||||||||||||||||||||||||
Total Segment Operating Profit (Loss) | 66.8 | 35.4 | (4.6 | ) | 42.3 | (30.1 | ) | 8.1 | 8.2 | 97.6 | (13.8 | ) | ||||||||||||||||||||||||
Corporate and Other Operating Loss | (3.7 | ) | (7.1 | ) | (4.4 | ) | (2.1 | ) | (6.4 | ) | (4.7 | ) | (12.2 | ) | (15.2 | ) | (23.3 | ) | ||||||||||||||||||
Total Operating Profit (Loss) | 63.1 | 28.3 | (9.0 | ) | 40.2 | (36.5 | ) | 3.4 | (4.0 | ) | 82.4 | (37.1 | ) | |||||||||||||||||||||||
Net Realized Gains on Sales of Investments | 8.1 | 26.4 | 10.5 | 9.1 | 11.6 | 5.6 | 6.8 | 45.0 | 24.0 | |||||||||||||||||||||||||||
Net Impairment Losses Recognized in Earnings | (2.9 | ) | (2.6 | ) | (5.0 | ) | (8.7 | ) | (8.3 | ) | (6.4 | ) | (9.3 | ) | (10.5 | ) | (24.0 | ) | ||||||||||||||||||
Income (Loss) from Continuing Operations before Income Taxes | $ | 68.3 | $ | 52.1 | $ | (3.5 | ) | $ | 40.6 | $ | (33.2 | ) | $ | 2.6 | $ | (6.5 | ) | $ | 116.9 | $ | (37.1 | ) | ||||||||||||||
Segment Net Operating Income (Loss): | ||||||||||||||||||||||||||||||||||||
Property & Casualty Insurance | $ | 22.9 | $ | 4.9 | $ | (22.1 | ) | $ | 7.0 | $ | 12.1 | $ | (8.9 | ) | $ | (13.1 | ) | $ | 5.7 | $ | (9.9 | ) | ||||||||||||||
Life & Health Insurance | 23.5 | 20.5 | 21.5 | 23.0 | (29.4 | ) | 16.4 | 20.3 | 65.5 | 7.3 | ||||||||||||||||||||||||||
Total Segment Net Operating Income (Loss) | 46.4 | 25.4 | (0.6 | ) | 30.0 | (17.3 | ) | 7.5 | 7.2 | 71.2 | (2.6 | ) | ||||||||||||||||||||||||
Corporate and Other Net Operating Loss | (2.0 | ) | (4.4 | ) | (3.3 | ) | (1.2 | ) | (3.1 | ) | (2.9 | ) | (7.8 | ) | (9.7 | ) | (13.8 | ) | ||||||||||||||||||
Consolidated Operating Income (Loss) | 44.4 | 21.0 | (3.9 | ) | 28.8 | (20.4 | ) | 4.6 | (0.6 | ) | 61.5 | (16.4 | ) | |||||||||||||||||||||||
Net Income (Loss) From: | ||||||||||||||||||||||||||||||||||||
Net Realized Gains on Sales of Investments | 5.3 | 17.2 | 6.8 | 5.9 | 7.5 | 3.7 | 4.4 | 29.3 | 15.6 | |||||||||||||||||||||||||||
Net Impairment Losses Recognized in Earnings | (1.9 | ) | (1.6 | ) | (3.3 | ) | (5.6 | ) | (5.4 | ) | (4.2 | ) | (6.0 | ) | (6.8 | ) | (15.6 | ) | ||||||||||||||||||
Income (Loss) from Continuing Operations | $ | 47.8 | $ | 36.6 | $ | (0.4 | ) | $ | 29.1 | $ | (18.3 | ) | $ | 4.1 | $ | (2.2 | ) | $ | 84.0 | $ | (16.4 | ) | ||||||||||||||
Kemper Corporation Segment Operating Results (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Earned Premiums by Product: | ||||||||||||||||||||||||||||||||||||
Personal Automobile | $ | 353.0 | $ | 339.1 | $ | 320.7 | $ | 317.2 | $ | 313.8 | $ | 310.3 | $ | 303.3 | $ | 1,012.8 | $ | 927.4 | ||||||||||||||||||
Homeowners | 66.7 | 66.6 | 66.3 | 67.7 | 68.5 | 67.6 | 68.1 | 199.6 | 204.2 | |||||||||||||||||||||||||||
Other Personal Property and Casualty Insurance | 28.9 | 29.2 | 28.9 | 29.3 | 29.9 | 30.2 | 29.8 | 87.0 | 89.9 | |||||||||||||||||||||||||||
Total Personal Lines | 448.6 | 434.9 | 415.9 | 414.2 | 412.2 | 408.1 | 401.2 | 1,299.4 | 1,221.5 | |||||||||||||||||||||||||||
Commercial Automobile | 13.1 | 12.7 | 12.7 | 13.1 | 13.3 | 13.4 | 13.5 | 38.5 | 40.2 | |||||||||||||||||||||||||||
Life | 94.5 | 95.4 | 95.7 | 95.9 | 95.8 | 95.5 | 94.4 | 285.6 | 285.7 | |||||||||||||||||||||||||||
Accident and Health | 42.0 | 39.5 | 39.1 | 38.2 | 37.6 | 36.7 | 36.9 | 120.6 | 111.2 | |||||||||||||||||||||||||||
Total Earned Premiums | $ | 598.2 | $ | 582.5 | $ | 563.4 | $ | 561.4 | $ | 558.9 | $ | 553.7 | $ | 546.0 | $ | 1,744.1 | $ | 1,658.6 | ||||||||||||||||||
Net Investment Income by Segment: | ||||||||||||||||||||||||||||||||||||
Property & Casualty Insurance: | ||||||||||||||||||||||||||||||||||||
Equity Method Limited Liability Investments | $ | 7.3 | $ | 1.8 | $ | 4.6 | $ | 2.6 | $ | 3.0 | $ | 2.9 | $ | (3.9 | ) | $ | 13.7 | $ | 2.0 | |||||||||||||||||
All Other Net Investment Income | 20.5 | 18.8 | 19.5 | 17.8 | 17.4 | 16.8 | 15.8 | 58.8 | 50.0 | |||||||||||||||||||||||||||
Net Investment Income | 27.8 | 20.6 | 24.1 | 20.4 | 20.4 | 19.7 | 11.9 | 72.5 | 52.0 | |||||||||||||||||||||||||||
Life & Health Insurance: | ||||||||||||||||||||||||||||||||||||
Equity Method Limited Liability Investments | 3.5 | 2.0 | 1.7 | 0.9 | 1.7 | (0.5 | ) | 0.1 | 7.2 | 1.3 | ||||||||||||||||||||||||||
All Other Net Investment Income | 52.4 | 52.9 | 51.3 | 52.7 | 52.8 | 50.6 | 54.9 | 156.6 | 158.3 | |||||||||||||||||||||||||||
Net Investment Income | 55.9 | 54.9 | 53.0 | 53.6 | 54.5 | 50.1 | 55.0 | 163.8 | 159.6 | |||||||||||||||||||||||||||
Total Segment Net Investment Income | 83.7 | 75.5 | 77.1 | 74.0 | 74.9 | 69.8 | 66.9 | 236.3 | 211.6 | |||||||||||||||||||||||||||
Unallocated Net Investment Income: | ||||||||||||||||||||||||||||||||||||
Equity Method Limited Liability Investments | 0.3 | 0.2 | 0.5 | 0.3 | 0.5 | 0.4 | (0.5 | ) | 1.0 | 0.4 | ||||||||||||||||||||||||||
All Other Net Investment Income | 1.9 | 1.4 | 4.0 | 5.6 | 2.3 | 3.5 | 0.6 | 7.3 | 6.4 | |||||||||||||||||||||||||||
Unallocated Net Investment Income | 2.2 | 1.6 | 4.5 | 5.9 | 2.8 | 3.9 | 0.1 | 8.3 | 6.8 | |||||||||||||||||||||||||||
Net Investment Income | $ | 85.9 | $ | 77.1 | $ | 81.6 | $ | 79.9 | $ | 77.7 | $ | 73.7 | $ | 67.0 | $ | 244.6 | $ | 218.4 | ||||||||||||||||||
Kemper Corporation Catastrophe Frequency and Severity (Dollars in Millions) (Unaudited) | |||||||||||||||||||||
Nine Months Ended Sep 30, 2017 | |||||||||||||||||||||
Property & Casualty Insurance Segment | Life & Health Insurance Segment | Consolidated | |||||||||||||||||||
Number of Events | Losses and LAE | Number of Events | Losses and LAE | Number of Events | Losses and LAE | ||||||||||||||||
Range of Losses and LAE Per Event: | |||||||||||||||||||||
Below $5 | 30 | $ | 53.7 | 26 | $ | 5.9 | 29 | $ | 52.1 | ||||||||||||
$5 - $10 | 1 | 5.0 | — | — | 2 | 10.4 | |||||||||||||||
$10 - $15 | 2 | 24.3 | — | — | 1 | 10.3 | |||||||||||||||
$15 - $20 | — | — | — | — | 1 | 16.1 | |||||||||||||||
$20 - $25 | — | — | — | — | — | — | |||||||||||||||
Greater Than $25 | 1 | 45.2 | — | — | 1 | 45.2 | |||||||||||||||
Total | 34 | $ | 128.2 | 26 | $ | 5.9 | 34 | $ | 134.1 | ||||||||||||
Nine Months Ended Sep 30, 2016 | |||||||||||||||||||||
Property & Casualty Insurance Segment | Life & Health Insurance Segment | Consolidated | |||||||||||||||||||
Number of Events | Losses and LAE | Number of Events | Losses and LAE | Number of Events | Losses and LAE | ||||||||||||||||
Range of Losses and LAE Per Event: | |||||||||||||||||||||
Below $5 | 34 | $ | 29.0 | 24 | $ | 4.6 | 34 | $ | 32.7 | ||||||||||||
$5 - $10 | 2 | 12.5 | — | — | 2 | 12.8 | |||||||||||||||
$10 - $15 | — | — | — | — | — | — | |||||||||||||||
$15 - $20 | — | — | — | — | — | — | |||||||||||||||
$20 - $25 | 1 | 24.4 | — | — | 1 | 24.9 | |||||||||||||||
Greater Than $25 | 1 | 32.0 | — | — | 1 | 32.1 | |||||||||||||||
Total | 38 | $ | 97.9 | 24 | $ | 4.6 | 38 | $ | 102.5 |
Kemper Corporation Property & Casualty Insurance Segment - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Net Premiums Written | $ | 466.7 | $ | 440.7 | $ | 428.9 | $ | 390.1 | $ | 422.7 | $ | 404.7 | $ | 403.4 | $ | 1,336.3 | $ | 1,230.8 | ||||||||||||||||||
Earned Premiums | 443.5 | 429.2 | 410.4 | 409.1 | 406.9 | 402.6 | 396.2 | 1,283.1 | 1,205.7 | |||||||||||||||||||||||||||
Net Investment Income | 27.8 | 20.6 | 24.1 | 20.4 | 20.4 | 19.7 | 11.9 | 72.5 | 52.0 | |||||||||||||||||||||||||||
Other Income | 0.4 | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.9 | 0.4 | |||||||||||||||||||||||||||
Total Revenues | 471.7 | 450.1 | 434.7 | 429.6 | 427.4 | 422.4 | 408.3 | 1,356.5 | 1,258.1 | |||||||||||||||||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||||||||||||||||||||||
Current Year: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 313.1 | 308.8 | 302.6 | 310.6 | 306.7 | 309.2 | 297.4 | 924.5 | 913.3 | |||||||||||||||||||||||||||
Catastrophe Losses and LAE | 29.8 | 34.5 | 63.9 | 11.7 | 11.3 | 49.1 | 37.5 | 128.2 | 97.9 | |||||||||||||||||||||||||||
Prior Years: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 1.6 | 9.6 | 11.8 | 6.2 | 3.1 | (9.1 | ) | 4.7 | 23.0 | (1.3 | ) | |||||||||||||||||||||||||
Catastrophe Losses and LAE | (1.2 | ) | (2.0 | ) | (1.2 | ) | (3.0 | ) | (3.9 | ) | (9.6 | ) | (2.7 | ) | (4.4 | ) | (16.2 | ) | ||||||||||||||||||
Total Incurred Losses and LAE | 343.3 | 350.9 | 377.1 | 325.5 | 317.2 | 339.6 | 336.9 | 1,071.3 | 993.7 | |||||||||||||||||||||||||||
Insurance Expenses | 97.6 | 95.0 | 94.8 | 96.9 | 94.6 | 100.0 | 94.2 | 287.4 | 288.8 | |||||||||||||||||||||||||||
Operating Profit (Loss) | 30.8 | 4.2 | (37.2 | ) | 7.2 | 15.6 | (17.2 | ) | (22.8 | ) | (2.2 | ) | (24.4 | ) | ||||||||||||||||||||||
Income Tax Benefit (Expense) | (7.9 | ) | 0.7 | 15.1 | (0.2 | ) | (3.5 | ) | 8.3 | 9.7 | 7.9 | 14.5 | ||||||||||||||||||||||||
Segment Net Operating Income (Loss) | $ | 22.9 | $ | 4.9 | $ | (22.1 | ) | $ | 7.0 | $ | 12.1 | $ | (8.9 | ) | $ | (13.1 | ) | $ | 5.7 | $ | (9.9 | ) | ||||||||||||||
Ratios Based On Earned Premiums | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 70.6 | % | 72.1 | % | 73.7 | % | 75.9 | % | 75.4 | % | 76.9 | % | 75.0 | % | 72.0 | % | 75.7 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 6.7 | 8.0 | 15.6 | 2.9 | 2.8 | 12.2 | 9.5 | 10.0 | 8.1 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.4 | 2.2 | 2.9 | 1.5 | 0.8 | (2.3 | ) | 1.2 | 1.8 | (0.1 | ) | |||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (0.3 | ) | (0.5 | ) | (0.3 | ) | (0.7 | ) | (1.0 | ) | (2.4 | ) | (0.7 | ) | (0.3 | ) | (1.3 | ) | ||||||||||||||||||
Total Incurred Loss and LAE Ratio | 77.4 | 81.8 | 91.9 | 79.6 | 78.0 | 84.4 | 85.0 | 83.5 | 82.4 | |||||||||||||||||||||||||||
Insurance Expense Ratio | 22.0 | 22.1 | 23.1 | 23.7 | 23.2 | 24.8 | 23.8 | 22.4 | 24.0 | |||||||||||||||||||||||||||
Combined Ratio | 99.4 | % | 103.9 | % | 115.0 | % | 103.3 | % | 101.2 | % | 109.2 | % | 108.8 | % | 105.9 | % | 106.4 | % | ||||||||||||||||||
Underlying Combined Ratio 1 | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 70.6 | % | 72.1 | % | 73.7 | % | 75.9 | % | 75.4 | % | 76.9 | % | 75.0 | % | 72.0 | % | 75.7 | % | ||||||||||||||||||
Insurance Expense Ratio | 22.0 | 22.1 | 23.1 | 23.7 | 23.2 | 24.8 | 23.8 | 22.4 | 24.0 | |||||||||||||||||||||||||||
Underlying Combined Ratio | 92.6 | % | 94.2 | % | 96.8 | % | 99.6 | % | 98.6 | % | 101.7 | % | 98.8 | % | 94.4 | % | 99.7 | % | ||||||||||||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||||||||||||||||||||||
Underlying Combined Ratio | 92.6 | % | 94.2 | % | 96.8 | % | 99.6 | % | 98.6 | % | 101.7 | % | 98.8 | % | 94.4 | % | 99.7 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 6.7 | 8.0 | 15.6 | 2.9 | 2.8 | 12.2 | 9.5 | 10.0 | 8.1 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.4 | 2.2 | 2.9 | 1.5 | 0.8 | (2.3 | ) | 1.2 | 1.8 | (0.1 | ) | |||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (0.3 | ) | (0.5 | ) | (0.3 | ) | (0.7 | ) | (1.0 | ) | (2.4 | ) | (0.7 | ) | (0.3 | ) | (1.3 | ) | ||||||||||||||||||
Combined Ratio as Reported | 99.4 | % | 103.9 | % | 115.0 | % | 103.3 | % | 101.2 | % | 109.2 | % | 108.8 | % | 105.9 | % | 106.4 | % | ||||||||||||||||||
1 Underlying Combined Ratio is a non-GAAP measure, which is computed as the difference between three operating ratios: the combined ratio, the effect of catastrophes (excluding development of prior-year catastrophes) on the combined ratio and the effect of prior-year reserve development at the reporting date (including development on prior-year catastrophes) on the combined ratio. |
Kemper Corporation Property & Casualty Insurance Segment - Results of Operations and Selected Financial Information (continued) (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | ||||||||||||||||||||||
Insurance Reserves: | ||||||||||||||||||||||||||||
Automobile | $ | 769.0 | $ | 768.3 | $ | 764.0 | $ | 754.1 | $ | 729.9 | $ | 709.6 | $ | 678.8 | ||||||||||||||
Homeowners | 111.8 | 110.7 | 133.6 | 88.9 | 95.4 | 105.9 | 115.4 | |||||||||||||||||||||
Other Personal | 41.2 | 43.5 | 40.3 | 41.1 | 41.9 | 44.1 | 46.1 | |||||||||||||||||||||
Insurance Reserves | $ | 922.0 | $ | 922.5 | $ | 937.9 | $ | 884.1 | $ | 867.2 | $ | 859.6 | $ | 840.3 | ||||||||||||||
Insurance Reserves: | ||||||||||||||||||||||||||||
Loss Reserves: | ||||||||||||||||||||||||||||
Case | $ | 570.9 | $ | 588.8 | $ | 599.7 | $ | 598.0 | $ | 596.6 | $ | 589.1 | $ | 563.3 | ||||||||||||||
Incurred but Not Reported | 219.2 | 201.9 | 204.8 | 158.2 | 147.6 | 150.1 | 157.9 | |||||||||||||||||||||
Total Loss Reserves | 790.1 | 790.7 | 804.5 | 756.2 | 744.2 | 739.2 | 721.2 | |||||||||||||||||||||
LAE Reserves | 131.9 | 131.8 | 133.4 | 127.9 | 123.0 | 120.4 | 119.1 | |||||||||||||||||||||
Insurance Reserves | $ | 922.0 | $ | 922.5 | $ | 937.9 | $ | 884.1 | $ | 867.2 | $ | 859.6 | $ | 840.3 |
Kemper Corporation Property & Casualty Insurance Segment Preferred Personal Automobile Insurance - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Net Premiums Written | $ | 112.6 | $ | 108.7 | $ | 100.1 | $ | 102.5 | $ | 114.1 | $ | 109.8 | $ | 99.7 | $ | 321.4 | $ | 323.6 | ||||||||||||||||||
Earned Premiums | $ | 106.5 | $ | 105.5 | $ | 104.3 | $ | 106.6 | $ | 106.6 | $ | 105.3 | $ | 106.1 | $ | 316.3 | $ | 318.0 | ||||||||||||||||||
Net Investment Income | 7.8 | 5.6 | 6.6 | 5.6 | 5.8 | 5.7 | 3.4 | 20.0 | 14.9 | |||||||||||||||||||||||||||
Other Income | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total Revenues | 114.3 | 111.1 | 110.9 | 112.2 | 112.4 | 111.0 | 109.5 | 336.3 | 332.9 | |||||||||||||||||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||||||||||||||||||||||
Current Year: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 74.2 | 76.8 | 76.9 | 85.7 | 74.0 | 75.0 | 73.3 | 227.9 | 222.3 | |||||||||||||||||||||||||||
Catastrophe Losses and LAE | 2.8 | 3.9 | 4.7 | 0.3 | 1.2 | 5.2 | 4.9 | 11.4 | 11.3 | |||||||||||||||||||||||||||
Prior Years: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 0.8 | 6.6 | 10.8 | 4.1 | (0.4 | ) | (0.7 | ) | 1.9 | 18.2 | 0.8 | |||||||||||||||||||||||||
Catastrophe Losses and LAE | — | (0.2 | ) | — | — | — | (0.1 | ) | (0.2 | ) | (0.2 | ) | (0.3 | ) | ||||||||||||||||||||||
Total Incurred Losses and LAE | 77.8 | 87.1 | 92.4 | 90.1 | 74.8 | 79.4 | 79.9 | 257.3 | 234.1 | |||||||||||||||||||||||||||
Insurance Expenses | 31.5 | 32.0 | 32.2 | 33.1 | 32.8 | 32.3 | 32.0 | 95.7 | 97.1 | |||||||||||||||||||||||||||
Operating Profit (Loss) | 5.0 | (8.0 | ) | (13.7 | ) | (11.0 | ) | 4.8 | (0.7 | ) | (2.4 | ) | (16.7 | ) | 1.7 | |||||||||||||||||||||
Income Tax Benefit (Expense) | (3.5 | ) | 3.4 | 5.3 | 4.6 | (1.2 | ) | 0.8 | 1.4 | 5.2 | 1.0 | |||||||||||||||||||||||||
Total Product Line Net Operating Income (Loss) | $ | 1.5 | $ | (4.6 | ) | $ | (8.4 | ) | $ | (6.4 | ) | $ | 3.6 | $ | 0.1 | $ | (1.0 | ) | $ | (11.5 | ) | $ | 2.7 | |||||||||||||
Ratios Based On Earned Premiums | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 69.7 | % | 72.8 | % | 73.7 | % | 80.4 | % | 69.5 | % | 71.3 | % | 69.1 | % | 72.0 | % | 69.8 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 2.6 | 3.7 | 4.5 | 0.3 | 1.1 | 4.9 | 4.6 | 3.6 | 3.6 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.8 | 6.3 | 10.4 | 3.8 | (0.4 | ) | (0.7 | ) | 1.8 | 5.8 | 0.3 | |||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | — | (0.2 | ) | — | — | — | (0.1 | ) | (0.2 | ) | (0.1 | ) | (0.1 | ) | ||||||||||||||||||||||
Total Incurred Loss and LAE Ratio | 73.1 | 82.6 | 88.6 | 84.5 | 70.2 | 75.4 | 75.3 | 81.3 | 73.6 | |||||||||||||||||||||||||||
Insurance Expense Ratio | 29.6 | 30.3 | 30.9 | 31.1 | 30.8 | 30.7 | 30.2 | 30.3 | 30.5 | |||||||||||||||||||||||||||
Combined Ratio | 102.7 | % | 112.9 | % | 119.5 | % | 115.6 | % | 101.0 | % | 106.1 | % | 105.5 | % | 111.6 | % | 104.1 | % | ||||||||||||||||||
Underlying Combined Ratio 1 | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 69.7 | % | 72.8 | % | 73.7 | % | 80.4 | % | 69.5 | % | 71.3 | % | 69.1 | % | 72.0 | % | 69.8 | % | ||||||||||||||||||
Insurance Expense Ratio | 29.6 | 30.3 | 30.9 | 31.1 | 30.8 | 30.7 | 30.2 | 30.3 | 30.5 | |||||||||||||||||||||||||||
Underlying Combined Ratio | 99.3 | % | 103.1 | % | 104.6 | % | 111.5 | % | 100.3 | % | 102.0 | % | 99.3 | % | 102.3 | % | 100.3 | % | ||||||||||||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||||||||||||||||||||||
Underlying Combined Ratio | 99.3 | % | 103.1 | % | 104.6 | % | 111.5 | % | 100.3 | % | 102.0 | % | 99.3 | % | 102.3 | % | 100.3 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 2.6 | 3.7 | 4.5 | 0.3 | 1.1 | 4.9 | 4.6 | 3.6 | 3.6 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.8 | 6.3 | 10.4 | 3.8 | (0.4 | ) | (0.7 | ) | 1.8 | 5.8 | 0.3 | |||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | — | (0.2 | ) | — | — | — | (0.1 | ) | (0.2 | ) | (0.1 | ) | (0.1 | ) | ||||||||||||||||||||||
Combined Ratio as Reported | 102.7 | % | 112.9 | % | 119.5 | % | 115.6 | % | 101.0 | % | 106.1 | % | 105.5 | % | 111.6 | % | 104.1 | % | ||||||||||||||||||
1 Underlying Combined Ratio is a non-GAAP measure, which is computed as the difference between three operating ratios: the combined ratio, the effect of catastrophes (excluding development of prior-year catastrophes) on the combined ratio and the effect of prior-year reserve development at the reporting date (including development on prior-year catastrophes) on the combined ratio. |
Kemper Corporation Property & Casualty Insurance Segment Non-standard Personal Automobile Insurance - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Net Premiums Written | $ | 259.8 | $ | 237.5 | $ | 245.2 | $ | 204.1 | $ | 211.4 | $ | 197.6 | $ | 219.5 | $ | 742.5 | $ | 628.5 | ||||||||||||||||||
Earned Premiums | $ | 246.5 | $ | 233.6 | $ | 216.4 | $ | 210.6 | $ | 207.2 | $ | 205.0 | $ | 197.2 | $ | 696.5 | $ | 609.4 | ||||||||||||||||||
Net Investment Income | 8.9 | 7.2 | 8.2 | 7.3 | 6.3 | 5.8 | 4.0 | 24.3 | 16.1 | |||||||||||||||||||||||||||
Other Income | 0.3 | 0.3 | 0.2 | 0.1 | — | 0.1 | 0.1 | 0.8 | 0.2 | |||||||||||||||||||||||||||
Total Revenues | 255.7 | 241.1 | 224.8 | 218.0 | 213.5 | 210.9 | 201.3 | 721.6 | 625.7 | |||||||||||||||||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||||||||||||||||||||||
Current Year: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 185.5 | 183.9 | 176.4 | 174.3 | 179.7 | 187.0 | 173.3 | 545.8 | 540.0 | |||||||||||||||||||||||||||
Catastrophe Losses and LAE | 1.5 | 2.4 | 1.7 | (0.1 | ) | 1.8 | 2.3 | 1.7 | 5.6 | 5.8 | ||||||||||||||||||||||||||
Prior Years: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 2.1 | (1.0 | ) | (0.8 | ) | (0.1 | ) | 2.1 | (3.1 | ) | 7.9 | 0.3 | 6.9 | |||||||||||||||||||||||
Catastrophe Losses and LAE | (0.1 | ) | — | (0.1 | ) | — | (0.1 | ) | — | — | (0.2 | ) | (0.1 | ) | ||||||||||||||||||||||
Total Incurred Losses and LAE | 189.0 | 185.3 | 177.2 | 174.1 | 183.5 | 186.2 | 182.9 | 551.5 | 552.6 | |||||||||||||||||||||||||||
Insurance Expenses | 39.7 | 36.9 | 35.5 | 35.7 | 33.4 | 39.6 | 34.7 | 112.1 | 107.7 | |||||||||||||||||||||||||||
Operating Profit (Loss) | 27.0 | 18.9 | 12.1 | 8.2 | (3.4 | ) | (14.9 | ) | (16.3 | ) | 58.0 | (34.6 | ) | |||||||||||||||||||||||
Income Tax Benefit (Expense) | (8.5 | ) | (5.7 | ) | (3.4 | ) | (2.1 | ) | 2.0 | 6.1 | 6.2 | (17.6 | ) | 14.3 | ||||||||||||||||||||||
Total Product Line Net Operating Income (Loss) | $ | 18.5 | $ | 13.2 | $ | 8.7 | $ | 6.1 | $ | (1.4 | ) | $ | (8.8 | ) | $ | (10.1 | ) | $ | 40.4 | $ | (20.3 | ) | ||||||||||||||
Ratios Based On Earned Premiums | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 75.2 | % | 78.7 | % | 81.5 | % | 82.7 | % | 86.7 | % | 91.2 | % | 87.8 | % | 78.4 | % | 88.6 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 0.6 | 1.0 | 0.8 | — | 0.9 | 1.1 | 0.9 | 0.8 | 1.0 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.9 | (0.4 | ) | (0.4 | ) | — | 1.0 | (1.5 | ) | 4.0 | — | 1.1 | ||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total Incurred Loss and LAE Ratio | 76.7 | 79.3 | 81.9 | 82.7 | 88.6 | 90.8 | 92.7 | 79.2 | 90.7 | |||||||||||||||||||||||||||
Insurance Expense Ratio | 16.1 | 15.8 | 16.4 | 17.0 | 16.1 | 19.3 | 17.6 | 16.1 | 17.7 | |||||||||||||||||||||||||||
Combined Ratio | 92.8 | % | 95.1 | % | 98.3 | % | 99.7 | % | 104.7 | % | 110.1 | % | 110.3 | % | 95.3 | % | 108.4 | % | ||||||||||||||||||
Underlying Combined Ratio 1 | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 75.2 | % | 78.7 | % | 81.5 | % | 82.7 | % | 86.7 | % | 91.2 | % | 87.8 | % | 78.4 | % | 88.6 | % | ||||||||||||||||||
Insurance Expense Ratio | 16.1 | 15.8 | 16.4 | 17.0 | 16.1 | 19.3 | 17.6 | 16.1 | 17.7 | |||||||||||||||||||||||||||
Underlying Combined Ratio | 91.3 | % | 94.5 | % | 97.9 | % | 99.7 | % | 102.8 | % | 110.5 | % | 105.4 | % | 94.5 | % | 106.3 | % | ||||||||||||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||||||||||||||||||||||
Underlying Combined Ratio | 91.3 | % | 94.5 | % | 97.9 | % | 99.7 | % | 102.8 | % | 110.5 | % | 105.4 | % | 94.5 | % | 106.3 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 0.6 | 1.0 | 0.8 | — | 0.9 | 1.1 | 0.9 | 0.8 | 1.0 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.9 | (0.4 | ) | (0.4 | ) | — | 1.0 | (1.5 | ) | 4.0 | — | 1.1 | ||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Combined Ratio as Reported | 92.8 | % | 95.1 | % | 98.3 | % | 99.7 | % | 104.7 | % | 110.1 | % | 110.3 | % | 95.3 | % | 108.4 | % | ||||||||||||||||||
1 Underlying Combined Ratio is a non-GAAP measure, which is computed as the difference between three operating ratios: the combined ratio, the effect of catastrophes (excluding development of prior-year catastrophes) on the combined ratio and the effect of prior-year reserve development at the reporting date (including development on prior-year catastrophes) on the combined ratio. |
Kemper Corporation Property & Casualty Insurance Segment Total Personal Automobile Insurance - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Net Premiums Written | $ | 372.4 | $ | 346.2 | $ | 345.3 | $ | 306.6 | $ | 325.5 | $ | 307.4 | $ | 319.2 | $ | 1,063.9 | $ | 952.1 | ||||||||||||||||||
Earned Premiums | $ | 353.0 | $ | 339.1 | $ | 320.7 | $ | 317.2 | $ | 313.8 | $ | 310.3 | $ | 303.3 | $ | 1,012.8 | $ | 927.4 | ||||||||||||||||||
Net Investment Income | 16.7 | 12.8 | 14.8 | 12.9 | 12.1 | 11.5 | 7.4 | 44.3 | 31.0 | |||||||||||||||||||||||||||
Other Income | 0.3 | 0.3 | 0.2 | 0.1 | — | 0.1 | 0.1 | 0.8 | 0.2 | |||||||||||||||||||||||||||
Total Revenues | 370.0 | 352.2 | 335.7 | 330.2 | 325.9 | 321.9 | 310.8 | 1,057.9 | 958.6 | |||||||||||||||||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||||||||||||||||||||||
Current Year: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 259.7 | 260.7 | 253.3 | 260.0 | 253.7 | 262.0 | 246.6 | 773.7 | 762.3 | |||||||||||||||||||||||||||
Catastrophe Losses and LAE | 4.3 | 6.3 | 6.4 | 0.2 | 3.0 | 7.5 | 6.6 | 17.0 | 17.1 | |||||||||||||||||||||||||||
Prior Years: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 2.9 | 5.6 | 10.0 | 4.0 | 1.7 | (3.8 | ) | 9.8 | 18.5 | 7.7 | ||||||||||||||||||||||||||
Catastrophe Losses and LAE | (0.1 | ) | (0.2 | ) | (0.1 | ) | — | (0.1 | ) | (0.1 | ) | (0.2 | ) | (0.4 | ) | (0.4 | ) | |||||||||||||||||||
Total Incurred Losses and LAE | 266.8 | 272.4 | 269.6 | 264.2 | 258.3 | 265.6 | 262.8 | 808.8 | 786.7 | |||||||||||||||||||||||||||
Insurance Expenses | 71.2 | 68.9 | 67.7 | 68.8 | 66.2 | 71.9 | 66.7 | 207.8 | 204.8 | |||||||||||||||||||||||||||
Operating Profit (Loss) | 32.0 | 10.9 | (1.6 | ) | (2.8 | ) | 1.4 | (15.6 | ) | (18.7 | ) | 41.3 | (32.9 | ) | ||||||||||||||||||||||
Income Tax Benefit (Expense) | (12.0 | ) | (2.3 | ) | 1.9 | 2.5 | 0.8 | 6.9 | 7.6 | (12.4 | ) | 15.3 | ||||||||||||||||||||||||
Total Product Line Net Operating Income (Loss) | $ | 20.0 | $ | 8.6 | $ | 0.3 | $ | (0.3 | ) | $ | 2.2 | $ | (8.7 | ) | $ | (11.1 | ) | $ | 28.9 | $ | (17.6 | ) | ||||||||||||||
Ratios Based On Earned Premiums | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 73.6 | % | 76.8 | % | 79.0 | % | 81.9 | % | 80.8 | % | 84.4 | % | 81.3 | % | 76.4 | % | 82.2 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 1.2 | 1.9 | 2.0 | 0.1 | 1.0 | 2.4 | 2.2 | 1.7 | 1.8 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.8 | 1.7 | 3.1 | 1.3 | 0.5 | (1.2 | ) | 3.2 | 1.8 | 0.8 | ||||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | — | (0.1 | ) | — | — | — | — | (0.1 | ) | — | — | |||||||||||||||||||||||||
Total Incurred Loss and LAE Ratio | 75.6 | 80.3 | 84.1 | 83.3 | 82.3 | 85.6 | 86.6 | 79.9 | 84.8 | |||||||||||||||||||||||||||
Insurance Expense Ratio | 20.2 | 20.3 | 21.1 | 21.7 | 21.1 | 23.2 | 22.0 | 20.5 | 22.1 | |||||||||||||||||||||||||||
Combined Ratio | 95.8 | % | 100.6 | % | 105.2 | % | 105.0 | % | 103.4 | % | 108.8 | % | 108.6 | % | 100.4 | % | 106.9 | % | ||||||||||||||||||
Underlying Combined Ratio 1 | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 73.6 | % | 76.8 | % | 79.0 | % | 81.9 | % | 80.8 | % | 84.4 | % | 81.3 | % | 76.4 | % | 82.2 | % | ||||||||||||||||||
Insurance Expense Ratio | 20.2 | 20.3 | 21.1 | 21.7 | 21.1 | 23.2 | 22.0 | 20.5 | 22.1 | |||||||||||||||||||||||||||
Underlying Combined Ratio | 93.8 | % | 97.1 | % | 100.1 | % | 103.6 | % | 101.9 | % | 107.6 | % | 103.3 | % | 96.9 | % | 104.3 | % | ||||||||||||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||||||||||||||||||||||
Underlying Combined Ratio | 93.8 | % | 97.1 | % | 100.1 | % | 103.6 | % | 101.9 | % | 107.6 | % | 103.3 | % | 96.9 | % | 104.3 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 1.2 | 1.9 | 2.0 | 0.1 | 1.0 | 2.4 | 2.2 | 1.7 | 1.8 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.8 | 1.7 | 3.1 | 1.3 | 0.5 | (1.2 | ) | 3.2 | 1.8 | 0.8 | ||||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | — | (0.1 | ) | — | — | — | — | (0.1 | ) | — | — | |||||||||||||||||||||||||
Combined Ratio as Reported | 95.8 | % | 100.6 | % | 105.2 | % | 105.0 | % | 103.4 | % | 108.8 | % | 108.6 | % | 100.4 | % | 106.9 | % | ||||||||||||||||||
1 Underlying Combined Ratio is a non-GAAP measure, which is computed as the difference between three operating ratios: the combined ratio, the effect of catastrophes (excluding development of prior-year catastrophes) on the combined ratio and the effect of prior-year reserve development at the reporting date (including development on prior-year catastrophes) on the combined ratio. |
Kemper Corporation Property & Casualty Insurance Segment Commercial Automobile Insurance - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Net Premiums Written | $ | 12.6 | $ | 13.3 | $ | 14.7 | $ | 11.0 | $ | 12.5 | $ | 13.3 | $ | 14.2 | $ | 40.6 | $ | 40.0 | ||||||||||||||||||
Earned Premiums | $ | 13.1 | $ | 12.7 | $ | 12.7 | $ | 13.1 | $ | 13.3 | $ | 13.4 | $ | 13.5 | $ | 38.5 | $ | 40.2 | ||||||||||||||||||
Net Investment Income | 1.8 | 1.4 | 1.5 | 1.2 | 1.4 | 1.2 | 0.7 | 4.7 | 3.3 | |||||||||||||||||||||||||||
Other Income | 0.1 | — | — | — | 0.1 | — | 0.1 | 0.1 | 0.2 | |||||||||||||||||||||||||||
Total Revenues | 15.0 | 14.1 | 14.2 | 14.3 | 14.8 | 14.6 | 14.3 | 43.3 | 43.7 | |||||||||||||||||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||||||||||||||||||||||
Current Year: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 11.3 | 9.9 | 9.6 | 12.2 | 10.4 | 10.5 | 10.9 | 30.8 | 31.8 | |||||||||||||||||||||||||||
Catastrophe Losses and LAE | 0.2 | 0.4 | 0.1 | (0.1 | ) | 0.4 | 0.4 | 0.1 | 0.7 | 0.9 | ||||||||||||||||||||||||||
Prior Years: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | (1.3 | ) | 1.6 | 1.8 | 2.4 | 4.2 | (1.7 | ) | (2.4 | ) | 2.1 | 0.1 | ||||||||||||||||||||||||
Catastrophe Losses and LAE | (0.1 | ) | — | — | — | (0.1 | ) | — | — | (0.1 | ) | (0.1 | ) | |||||||||||||||||||||||
Total Incurred Losses and LAE | 10.1 | 11.9 | 11.5 | 14.5 | 14.9 | 9.2 | 8.6 | 33.5 | 32.7 | |||||||||||||||||||||||||||
Insurance Expenses | 3.0 | 2.8 | 3.0 | 3.2 | 3.4 | 3.6 | 3.1 | 8.8 | 10.1 | |||||||||||||||||||||||||||
Operating Profit (Loss) | 1.9 | (0.6 | ) | (0.3 | ) | (3.4 | ) | (3.5 | ) | 1.8 | 2.6 | 1.0 | 0.9 | |||||||||||||||||||||||
Income Tax Benefit (Expense) | (0.5 | ) | 0.3 | 0.2 | 1.3 | 1.3 | (0.5 | ) | (0.8 | ) | — | — | ||||||||||||||||||||||||
Total Product Line Net Operating Income (Loss) | $ | 1.4 | $ | (0.3 | ) | $ | (0.1 | ) | $ | (2.1 | ) | $ | (2.2 | ) | $ | 1.3 | $ | 1.8 | $ | 1.0 | $ | 0.9 | ||||||||||||||
Ratios Based On Earned Premiums | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 86.3 | % | 78.0 | % | 75.6 | % | 93.2 | % | 78.2 | % | 78.4 | % | 80.8 | % | 80.0 | % | 79.1 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 1.5 | 3.1 | 0.8 | (0.8 | ) | 3.0 | 3.0 | 0.7 | 1.8 | 2.2 | ||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | (9.9 | ) | 12.6 | 14.2 | 18.3 | 31.6 | (12.7 | ) | (17.8 | ) | 5.5 | 0.2 | ||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (0.8 | ) | — | — | — | (0.8 | ) | — | — | (0.3 | ) | (0.2 | ) | |||||||||||||||||||||||
Total Incurred Loss and LAE Ratio | 77.1 | 93.7 | 90.6 | 110.7 | 112.0 | 68.7 | 63.7 | 87.0 | 81.3 | |||||||||||||||||||||||||||
Insurance Expense Ratio | 22.9 | 22.0 | 23.6 | 24.4 | 25.6 | 26.9 | 23.0 | 22.9 | 25.1 | |||||||||||||||||||||||||||
Combined Ratio | 100.0 | % | 115.7 | % | 114.2 | % | 135.1 | % | 137.6 | % | 95.6 | % | 86.7 | % | 109.9 | % | 106.4 | % | ||||||||||||||||||
Underlying Combined Ratio 1 | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 86.3 | % | 78.0 | % | 75.6 | % | 93.2 | % | 78.2 | % | 78.4 | % | 80.8 | % | 80.0 | % | 79.1 | % | ||||||||||||||||||
Insurance Expense Ratio | 22.9 | 22.0 | 23.6 | 24.4 | 25.6 | 26.9 | 23.0 | 22.9 | 25.1 | |||||||||||||||||||||||||||
Underlying Combined Ratio | 109.2 | % | 100.0 | % | 99.2 | % | 117.6 | % | 103.8 | % | 105.3 | % | 103.8 | % | 102.9 | % | 104.2 | % | ||||||||||||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||||||||||||||||||||||
Underlying Combined Ratio | 109.2 | % | 100.0 | % | 99.2 | % | 117.6 | % | 103.8 | % | 105.3 | % | 103.8 | % | 102.9 | % | 104.2 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 1.5 | 3.1 | 0.8 | (0.8 | ) | 3.0 | 3.0 | 0.7 | 1.8 | 2.2 | ||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | (9.9 | ) | 12.6 | 14.2 | 18.3 | 31.6 | (12.7 | ) | (17.8 | ) | 5.5 | 0.2 | ||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (0.8 | ) | — | — | — | (0.8 | ) | — | — | (0.3 | ) | (0.2 | ) | |||||||||||||||||||||||
Combined Ratio as Reported | 100.0 | % | 115.7 | % | 114.2 | % | 135.1 | % | 137.6 | % | 95.6 | % | 86.7 | % | 109.9 | % | 106.4 | % | ||||||||||||||||||
1 Underlying Combined Ratio is a non-GAAP measure, which is computed as the difference between three operating ratios: the combined ratio, the effect of catastrophes (excluding development of prior-year catastrophes) on the combined ratio and the effect of prior-year reserve development at the reporting date (including development on prior-year catastrophes) on the combined ratio. |
Kemper Corporation Property & Casualty Insurance Segment Total Automobile Insurance - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Net Premiums Written | $ | 385.0 | $ | 359.5 | $ | 360.0 | $ | 317.6 | $ | 338.0 | $ | 320.7 | $ | 333.4 | $ | 1,104.5 | $ | 992.1 | ||||||||||||||||||
Earned Premiums | $ | 366.1 | $ | 351.8 | $ | 333.4 | $ | 330.3 | $ | 327.1 | $ | 323.7 | $ | 316.8 | $ | 1,051.3 | $ | 967.6 | ||||||||||||||||||
Net Investment Income | 18.5 | 14.2 | 16.3 | 14.1 | 13.5 | 12.7 | 8.1 | 49.0 | 34.3 | |||||||||||||||||||||||||||
Other Income | 0.4 | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.9 | 0.4 | |||||||||||||||||||||||||||
Total Revenues | 385.0 | 366.3 | 349.9 | 344.5 | 340.7 | 336.5 | 325.1 | 1,101.2 | 1,002.3 | |||||||||||||||||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||||||||||||||||||||||
Current Year: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 271.0 | 270.6 | 262.9 | 272.2 | 264.1 | 272.5 | 257.5 | 804.5 | 794.1 | |||||||||||||||||||||||||||
Catastrophe Losses and LAE | 4.5 | 6.7 | 6.5 | 0.1 | 3.4 | 7.9 | 6.7 | 17.7 | 18.0 | |||||||||||||||||||||||||||
Prior Years: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 1.6 | 7.2 | 11.8 | 6.4 | 5.9 | (5.5 | ) | 7.4 | 20.6 | 7.8 | ||||||||||||||||||||||||||
Catastrophe Losses and LAE | (0.2 | ) | (0.2 | ) | (0.1 | ) | — | (0.2 | ) | (0.1 | ) | (0.2 | ) | (0.5 | ) | (0.5 | ) | |||||||||||||||||||
Total Incurred Losses and LAE | 276.9 | 284.3 | 281.1 | 278.7 | 273.2 | 274.8 | 271.4 | 842.3 | 819.4 | |||||||||||||||||||||||||||
Insurance Expenses | 74.2 | 71.7 | 70.7 | 72.0 | 69.6 | 75.5 | 69.8 | 216.6 | 214.9 | |||||||||||||||||||||||||||
Operating Profit (Loss) | 33.9 | 10.3 | (1.9 | ) | (6.2 | ) | (2.1 | ) | (13.8 | ) | (16.1 | ) | 42.3 | (32.0 | ) | |||||||||||||||||||||
Income Tax Benefit (Expense) | (12.5 | ) | (2.0 | ) | 2.1 | 3.8 | 2.1 | 6.4 | 6.8 | (12.4 | ) | 15.3 | ||||||||||||||||||||||||
Total Product Line Net Operating Income (Loss) | $ | 21.4 | $ | 8.3 | $ | 0.2 | $ | (2.4 | ) | $ | — | $ | (7.4 | ) | $ | (9.3 | ) | $ | 29.9 | $ | (16.7 | ) | ||||||||||||||
Ratios Based On Earned Premiums | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 74.1 | % | 77.0 | % | 78.9 | % | 82.5 | % | 80.8 | % | 84.2 | % | 81.4 | % | 76.4 | % | 82.1 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 1.2 | 1.9 | 1.9 | — | 1.0 | 2.4 | 2.1 | 1.7 | 1.9 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.4 | 2.0 | 3.5 | 1.9 | 1.8 | (1.7 | ) | 2.3 | 2.0 | 0.8 | ||||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (0.1 | ) | (0.1 | ) | — | — | (0.1 | ) | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||||||||||
Total Incurred Loss and LAE Ratio | 75.6 | 80.8 | 84.3 | 84.4 | 83.5 | 84.9 | 85.7 | 80.1 | 84.7 | |||||||||||||||||||||||||||
Insurance Expense Ratio | 20.3 | 20.4 | 21.2 | 21.8 | 21.3 | 23.3 | 22.0 | 20.6 | 22.2 | |||||||||||||||||||||||||||
Combined Ratio | 95.9 | % | 101.2 | % | 105.5 | % | 106.2 | % | 104.8 | % | 108.2 | % | 107.7 | % | 100.7 | % | 106.9 | % | ||||||||||||||||||
Underlying Combined Ratio 1 | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 74.1 | % | 77.0 | % | 78.9 | % | 82.5 | % | 80.8 | % | 84.2 | % | 81.4 | % | 76.4 | % | 82.1 | % | ||||||||||||||||||
Insurance Expense Ratio | 20.3 | 20.4 | 21.2 | 21.8 | 21.3 | 23.3 | 22.0 | 20.6 | 22.2 | |||||||||||||||||||||||||||
Underlying Combined Ratio | 94.4 | % | 97.4 | % | 100.1 | % | 104.3 | % | 102.1 | % | 107.5 | % | 103.4 | % | 97.0 | % | 104.3 | % | ||||||||||||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||||||||||||||||||||||
Underlying Combined Ratio | 94.4 | % | 97.4 | % | 100.1 | % | 104.3 | % | 102.1 | % | 107.5 | % | 103.4 | % | 97.0 | % | 104.3 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 1.2 | 1.9 | 1.9 | — | 1.0 | 2.4 | 2.1 | 1.7 | 1.9 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.4 | 2.0 | 3.5 | 1.9 | 1.8 | (1.7 | ) | 2.3 | 2.0 | 0.8 | ||||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (0.1 | ) | (0.1 | ) | — | — | (0.1 | ) | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||||||||||
Combined Ratio as Reported | 95.9 | % | 101.2 | % | 105.5 | % | 106.2 | % | 104.8 | % | 108.2 | % | 107.7 | % | 100.7 | % | 106.9 | % | ||||||||||||||||||
1 Underlying Combined Ratio is a non-GAAP measure, which is computed as the difference between three operating ratios: the combined ratio, the effect of catastrophes (excluding development of prior-year catastrophes) on the combined ratio and the effect of prior-year reserve development at the reporting date (including development on prior-year catastrophes) on the combined ratio. |
Kemper Corporation Property & Casualty Insurance Segment Homeowners Insurance - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Net Premiums Written | $ | 70.8 | $ | 70.1 | $ | 59.2 | $ | 62.2 | $ | 73.1 | $ | 72.2 | $ | 59.9 | $ | 200.1 | $ | 205.2 | ||||||||||||||||||
Earned Premiums | $ | 66.7 | $ | 66.6 | $ | 66.3 | $ | 67.7 | $ | 68.5 | $ | 67.6 | $ | 68.1 | $ | 199.6 | $ | 204.2 | ||||||||||||||||||
Net Investment Income | 7.9 | 5.7 | 6.5 | 5.3 | 5.9 | 5.9 | 3.2 | 20.1 | 15.0 | |||||||||||||||||||||||||||
Other Income | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total Revenues | 74.6 | 72.3 | 72.8 | 73.0 | 74.4 | 73.5 | 71.3 | 219.7 | 219.2 | |||||||||||||||||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||||||||||||||||||||||
Current Year: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 36.9 | 32.5 | 33.8 | 32.6 | 36.8 | 30.9 | 35.2 | 103.2 | 102.9 | |||||||||||||||||||||||||||
Catastrophe Losses and LAE | 24.8 | 26.7 | 56.5 | 11.3 | 7.8 | 40.0 | 29.9 | 108.0 | 77.7 | |||||||||||||||||||||||||||
Prior Years: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 0.9 | 1.5 | 0.7 | 0.6 | (0.6 | ) | (0.5 | ) | (2.7 | ) | 3.1 | (3.8 | ) | |||||||||||||||||||||||
Catastrophe Losses and LAE | (0.8 | ) | (1.8 | ) | (0.6 | ) | (2.5 | ) | (3.5 | ) | (8.4 | ) | (2.4 | ) | (3.2 | ) | (14.3 | ) | ||||||||||||||||||
Total Incurred Losses and LAE | 61.8 | 58.9 | 90.4 | 42.0 | 40.5 | 62.0 | 60.0 | 211.1 | 162.5 | |||||||||||||||||||||||||||
Insurance Expenses | 20.3 | 20.6 | 21.0 | 21.6 | 21.7 | 21.4 | 21.3 | 61.9 | 64.4 | |||||||||||||||||||||||||||
Operating Profit (Loss) | (7.5 | ) | (7.2 | ) | (38.6 | ) | 9.4 | 12.2 | (9.9 | ) | (10.0 | ) | (53.3 | ) | (7.7 | ) | ||||||||||||||||||||
Income Tax Benefit (Expense) | 10.5 | 3.1 | 14.0 | (2.7 | ) | (3.8 | ) | 4.1 | 4.0 | 27.6 | 4.3 | |||||||||||||||||||||||||
Total Product Line Net Operating Income (Loss) | $ | 3.0 | $ | (4.1 | ) | $ | (24.6 | ) | $ | 6.7 | $ | 8.4 | $ | (5.8 | ) | $ | (6.0 | ) | $ | (25.7 | ) | $ | (3.4 | ) | ||||||||||||
Ratios Based On Earned Premiums | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 55.4 | % | 48.7 | % | 50.9 | % | 48.1 | % | 53.7 | % | 45.6 | % | 51.7 | % | 51.7 | % | 50.4 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 37.2 | 40.1 | 85.2 | 16.7 | 11.4 | 59.2 | 43.9 | 54.1 | 38.1 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 1.3 | 2.3 | 1.1 | 0.9 | (0.9 | ) | (0.7 | ) | (4.0 | ) | 1.6 | (1.9 | ) | |||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (1.2 | ) | (2.7 | ) | (0.9 | ) | (3.7 | ) | (5.1 | ) | (12.4 | ) | (3.5 | ) | (1.6 | ) | (7.0 | ) | ||||||||||||||||||
Total Incurred Loss and LAE Ratio | 92.7 | 88.4 | 136.3 | 62.0 | 59.1 | 91.7 | 88.1 | 105.8 | 79.6 | |||||||||||||||||||||||||||
Insurance Expense Ratio | 30.4 | 30.9 | 31.7 | 31.9 | 31.7 | 31.7 | 31.3 | 31.0 | 31.5 | |||||||||||||||||||||||||||
Combined Ratio | 123.1 | % | 119.3 | % | 168.0 | % | 93.9 | % | 90.8 | % | 123.4 | % | 119.4 | % | 136.8 | % | 111.1 | % | ||||||||||||||||||
Underlying Combined Ratio 1 | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 55.4 | % | 48.7 | % | 50.9 | % | 48.1 | % | 53.7 | % | 45.6 | % | 51.7 | % | 51.7 | % | 50.4 | % | ||||||||||||||||||
Insurance Expense Ratio | 30.4 | 30.9 | 31.7 | 31.9 | 31.7 | 31.7 | 31.3 | 31.0 | 31.5 | |||||||||||||||||||||||||||
Underlying Combined Ratio | 85.8 | % | 79.6 | % | 82.6 | % | 80.0 | % | 85.4 | % | 77.3 | % | 83.0 | % | 82.7 | % | 81.9 | % | ||||||||||||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||||||||||||||||||||||
Underlying Combined Ratio | 85.8 | % | 79.6 | % | 82.6 | % | 80.0 | % | 85.4 | % | 77.3 | % | 83.0 | % | 82.7 | % | 81.9 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 37.2 | 40.1 | 85.2 | 16.7 | 11.4 | 59.2 | 43.9 | 54.1 | 38.1 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 1.3 | 2.3 | 1.1 | 0.9 | (0.9 | ) | (0.7 | ) | (4.0 | ) | 1.6 | (1.9 | ) | |||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (1.2 | ) | (2.7 | ) | (0.9 | ) | (3.7 | ) | (5.1 | ) | (12.4 | ) | (3.5 | ) | (1.6 | ) | (7.0 | ) | ||||||||||||||||||
Combined Ratio as Reported | 123.1 | % | 119.3 | % | 168.0 | % | 93.9 | % | 90.8 | % | 123.4 | % | 119.4 | % | 136.8 | % | 111.1 | % | ||||||||||||||||||
1 Underlying Combined Ratio is a non-GAAP measure, which is computed as the difference between three operating ratios: the combined ratio, the effect of catastrophes (excluding development of prior-year catastrophes) on the combined ratio and the effect of prior-year reserve development at the reporting date (including development on prior-year catastrophes) on the combined ratio. |
Kemper Corporation Property & Casualty Insurance Segment Other Personal Lines - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Net Premiums Written | $ | 10.9 | $ | 11.1 | $ | 9.7 | $ | 10.3 | $ | 11.6 | $ | 11.8 | $ | 10.1 | $ | 31.7 | $ | 33.5 | ||||||||||||||||||
Earned Premiums | $ | 10.7 | $ | 10.8 | $ | 10.7 | $ | 11.1 | $ | 11.3 | $ | 11.3 | $ | 11.3 | $ | 32.2 | $ | 33.9 | ||||||||||||||||||
Net Investment Income | 1.4 | 0.7 | 1.3 | 1.0 | 1.0 | 1.1 | 0.6 | 3.4 | 2.7 | |||||||||||||||||||||||||||
Other Income | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total Revenues | 12.1 | 11.5 | 12.0 | 12.1 | 12.3 | 12.4 | 11.9 | 35.6 | 36.6 | |||||||||||||||||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||||||||||||||||||||||
Current Year: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 5.2 | 5.7 | 5.9 | 5.8 | 5.8 | 5.8 | 4.7 | 16.8 | 16.3 | |||||||||||||||||||||||||||
Catastrophe Losses and LAE | 0.5 | 1.1 | 0.9 | 0.3 | 0.1 | 1.2 | 0.9 | 2.5 | 2.2 | |||||||||||||||||||||||||||
Prior Years: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | (0.9 | ) | 0.9 | (0.7 | ) | (0.8 | ) | (2.2 | ) | (3.1 | ) | — | (0.7 | ) | (5.3 | ) | ||||||||||||||||||||
Catastrophe Losses and LAE | (0.2 | ) | — | (0.5 | ) | (0.5 | ) | (0.2 | ) | (1.1 | ) | (0.1 | ) | (0.7 | ) | (1.4 | ) | |||||||||||||||||||
Total Incurred Losses and LAE | 4.6 | 7.7 | 5.6 | 4.8 | 3.5 | 2.8 | 5.5 | 17.9 | 11.8 | |||||||||||||||||||||||||||
Insurance Expenses | 3.1 | 2.7 | 3.1 | 3.3 | 3.3 | 3.1 | 3.1 | 8.9 | 9.5 | |||||||||||||||||||||||||||
Operating Profit | 4.4 | 1.1 | 3.3 | 4.0 | 5.5 | 6.5 | 3.3 | 8.8 | 15.3 | |||||||||||||||||||||||||||
Income Tax Expense | (5.9 | ) | (0.4 | ) | (1.0 | ) | (1.3 | ) | (1.8 | ) | (2.2 | ) | (1.1 | ) | (7.3 | ) | (4.4 | ) | ||||||||||||||||||
Total Product Line Net Operating Income (Loss) | $ | (1.5 | ) | $ | 0.7 | $ | 2.3 | $ | 2.7 | $ | 3.7 | $ | 4.3 | $ | 2.2 | $ | 1.5 | $ | 10.9 | |||||||||||||||||
Ratios Based On Earned Premiums | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 48.6 | % | 52.8 | % | 55.1 | % | 52.2 | % | 51.4 | % | 51.3 | % | 41.6 | % | 52.2 | % | 48.0 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 4.7 | 10.2 | 8.4 | 2.7 | 0.9 | 10.6 | 8.0 | 7.8 | 6.5 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | (8.4 | ) | 8.3 | (6.5 | ) | (7.2 | ) | (19.5 | ) | (27.4 | ) | — | (2.2 | ) | (15.6 | ) | ||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (1.9 | ) | — | (4.7 | ) | (4.5 | ) | (1.8 | ) | (9.7 | ) | (0.9 | ) | (2.2 | ) | (4.1 | ) | |||||||||||||||||||
Total Incurred Loss and LAE Ratio | 43.0 | 71.3 | 52.3 | 43.2 | 31.0 | 24.8 | 48.7 | 55.6 | 34.8 | |||||||||||||||||||||||||||
Insurance Expense Ratio | 29.0 | 25.0 | 29.0 | 29.7 | 29.2 | 27.4 | 27.4 | 27.6 | 28.0 | |||||||||||||||||||||||||||
Combined Ratio | 72.0 | % | 96.3 | % | 81.3 | % | 72.9 | % | 60.2 | % | 52.2 | % | 76.1 | % | 83.2 | % | 62.8 | % | ||||||||||||||||||
Underlying Combined Ratio 1 | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 48.6 | % | 52.8 | % | 55.1 | % | 52.2 | % | 51.4 | % | 51.3 | % | 41.6 | % | 52.2 | % | 48.0 | % | ||||||||||||||||||
Insurance Expense Ratio | 29.0 | 25.0 | 29.0 | 29.7 | 29.2 | 27.4 | 27.4 | 27.6 | 28.0 | |||||||||||||||||||||||||||
Underlying Combined Ratio | 77.6 | % | 77.8 | % | 84.1 | % | 81.9 | % | 80.6 | % | 78.7 | % | 69.0 | % | 79.8 | % | 76.0 | % | ||||||||||||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||||||||||||||||||||||
Underlying Combined Ratio | 77.6 | % | 77.8 | % | 84.1 | % | 81.9 | % | 80.6 | % | 78.7 | % | 69.0 | % | 79.8 | % | 76.0 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 4.7 | 10.2 | 8.4 | 2.7 | 0.9 | 10.6 | 8.0 | 7.8 | 6.5 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | (8.4 | ) | 8.3 | (6.5 | ) | (7.2 | ) | (19.5 | ) | (27.4 | ) | — | (2.2 | ) | (15.6 | ) | ||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | (1.9 | ) | — | (4.7 | ) | (4.5 | ) | (1.8 | ) | (9.7 | ) | (0.9 | ) | (2.2 | ) | (4.1 | ) | |||||||||||||||||||
Combined Ratio as Reported | 72.0 | % | 96.3 | % | 81.3 | % | 72.9 | % | 60.2 | % | 52.2 | % | 76.1 | % | 83.2 | % | 62.8 | % | ||||||||||||||||||
1 Underlying Combined Ratio is a non-GAAP measure, which is computed as the difference between three operating ratios: the combined ratio, the effect of catastrophes (excluding development of prior-year catastrophes) on the combined ratio and the effect of prior-year reserve development at the reporting date (including development on prior-year catastrophes) on the combined ratio. |
Kemper Corporation Life & Health Insurance Segment - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Earned Premiums | $ | 154.7 | $ | 153.3 | $ | 153.0 | $ | 152.3 | $ | 152.0 | $ | 151.1 | $ | 149.8 | $ | 461.0 | $ | 452.9 | ||||||||||||||||||
Net Investment Income | 55.9 | 54.9 | 53.0 | 53.6 | 54.5 | 50.1 | 55.0 | 163.8 | 159.6 | |||||||||||||||||||||||||||
Other Income | 0.7 | 0.6 | 0.6 | 0.9 | 0.7 | 0.6 | 0.6 | 1.9 | 1.9 | |||||||||||||||||||||||||||
Total Revenues | 211.3 | 208.8 | 206.6 | 206.8 | 207.2 | 201.8 | 205.4 | 626.7 | 614.4 | |||||||||||||||||||||||||||
Policyholders’ Benefits and Incurred Losses and LAE | 96.8 | 96.5 | 100.3 | 92.8 | 173.0 | 96.5 | 99.3 | 293.6 | 368.8 | |||||||||||||||||||||||||||
Insurance Expenses | 78.5 | 81.1 | 73.7 | 78.9 | 79.9 | 80.0 | 75.1 | 233.3 | 235.0 | |||||||||||||||||||||||||||
Operating Profit (Loss) | 36.0 | 31.2 | 32.6 | 35.1 | (45.7 | ) | 25.3 | 31.0 | 99.8 | 10.6 | ||||||||||||||||||||||||||
Income Tax Benefit (Expense) | (12.5 | ) | (10.7 | ) | (11.1 | ) | (12.1 | ) | 16.3 | (8.9 | ) | (10.7 | ) | (34.3 | ) | (3.3 | ) | |||||||||||||||||||
Segment Net Operating Income (Loss) | $ | 23.5 | $ | 20.5 | $ | 21.5 | $ | 23.0 | $ | (29.4 | ) | $ | 16.4 | $ | 20.3 | $ | 65.5 | $ | 7.3 | |||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | ||||||||||||||||||||||
Insurance Reserves: | ||||||||||||||||||||||||||||
Future Policyholder Benefits | $ | 3,345.7 | $ | 3,335.7 | $ | 3,325.2 | $ | 3,311.5 | $ | 3,298.5 | $ | 3,310.3 | $ | 3,294.4 | ||||||||||||||
Incurred Losses and LAE Reserves: | ||||||||||||||||||||||||||||
Life | 141.6 | 141.8 | 141.7 | 141.9 | 142.1 | 43.8 | 42.1 | |||||||||||||||||||||
Accident and Health | 22.5 | 22.2 | 22.1 | 21.9 | 20.9 | 22.1 | 21.9 | |||||||||||||||||||||
Property | 7.3 | 4.2 | 4.6 | 4.5 | 5.5 | 5.4 | 6.0 | |||||||||||||||||||||
Total Incurred Losses and LAE Reserves | 171.4 | 168.2 | 168.4 | 168.3 | 168.5 | 71.3 | 70.0 | |||||||||||||||||||||
Insurance Reserves | $ | 3,517.1 | $ | 3,503.9 | $ | 3,493.6 | $ | 3,479.8 | $ | 3,467.0 | $ | 3,381.6 | $ | 3,364.4 |
Kemper Corporation Life & Health Insurance Segment Life Insurance - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Earned Premiums | $ | 94.5 | $ | 95.4 | $ | 95.7 | $ | 95.9 | $ | 95.8 | $ | 95.5 | $ | 94.4 | $ | 285.6 | $ | 285.7 | ||||||||||||||||||
Net Investment Income | 54.1 | 52.9 | 51.4 | 51.7 | 52.7 | 48.4 | 53.5 | 158.4 | 154.6 | |||||||||||||||||||||||||||
Other Income | 0.6 | 0.6 | 0.5 | 0.7 | 0.6 | 0.5 | 0.5 | 1.7 | 1.6 | |||||||||||||||||||||||||||
Total Revenues | 149.2 | 148.9 | 147.6 | 148.3 | 149.1 | 144.4 | 148.4 | 445.7 | 441.9 | |||||||||||||||||||||||||||
Policyholders’ Benefits and Incurred Losses and LAE | 66.4 | 68.8 | 72.1 | 68.0 | 146.5 | 70.5 | 71.3 | 207.3 | 288.3 | |||||||||||||||||||||||||||
Insurance Expenses | 53.0 | 54.8 | 48.4 | 53.1 | 54.9 | 53.2 | 50.1 | 156.2 | 158.2 | |||||||||||||||||||||||||||
Operating Profit (Loss) | 29.8 | 25.3 | 27.1 | 27.2 | (52.3 | ) | 20.7 | 27.0 | 82.2 | (4.6 | ) | |||||||||||||||||||||||||
Income Tax Benefit (Expense) | (10.3 | ) | (8.7 | ) | (9.2 | ) | (9.4 | ) | 18.6 | (7.3 | ) | (9.4 | ) | (28.2 | ) | 1.9 | ||||||||||||||||||||
Total Product Line Operating Income (Loss) | $ | 19.5 | $ | 16.6 | $ | 17.9 | $ | 17.8 | $ | (33.7 | ) | $ | 13.4 | $ | 17.6 | $ | 54.0 | $ | (2.7 | ) | ||||||||||||||||
Kemper Corporation Life & Health Insurance Segment Accident & Health Insurance - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Earned Premiums | $ | 42.0 | $ | 39.5 | $ | 39.1 | $ | 38.2 | $ | 37.6 | $ | 36.7 | $ | 36.9 | $ | 120.6 | $ | 111.2 | ||||||||||||||||||
Net Investment Income | 1.3 | 1.4 | 1.3 | 1.4 | 1.4 | 1.3 | 1.3 | 4.0 | 4.0 | |||||||||||||||||||||||||||
Other Income | 0.1 | — | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 | |||||||||||||||||||||||||||
Total Revenues | 43.4 | 40.9 | 40.5 | 39.8 | 39.1 | 38.1 | 38.3 | 124.8 | 115.5 | |||||||||||||||||||||||||||
Policyholders’ Benefits and Incurred Losses and LAE | 22.9 | 21.8 | 21.2 | 19.6 | 19.9 | 20.3 | 20.5 | 65.9 | 60.7 | |||||||||||||||||||||||||||
Insurance Expenses | 17.6 | 17.6 | 17.3 | 17.3 | 16.4 | 17.1 | 16.8 | 52.5 | 50.3 | |||||||||||||||||||||||||||
Operating Profit | 2.9 | 1.5 | 2.0 | 2.9 | 2.8 | 0.7 | 1.0 | 6.4 | 4.5 | |||||||||||||||||||||||||||
Income Tax Expense | (1.2 | ) | (0.5 | ) | (0.7 | ) | (0.9 | ) | (1.0 | ) | (0.3 | ) | (0.3 | ) | (2.4 | ) | (1.6 | ) | ||||||||||||||||||
Total Product Line Net Operating Income | $ | 1.7 | $ | 1.0 | $ | 1.3 | $ | 2.0 | $ | 1.8 | $ | 0.4 | $ | 0.7 | $ | 4.0 | $ | 2.9 | ||||||||||||||||||
Kemper Corporation Life & Health Insurance Segment Property Insurance - Results of Operations and Selected Financial Information (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||||||||||||
Earned Premiums | $ | 18.2 | $ | 18.4 | $ | 18.2 | $ | 18.2 | $ | 18.6 | $ | 18.9 | $ | 18.5 | $ | 54.8 | $ | 56.0 | ||||||||||||||||||
Net Investment Income | 0.5 | 0.6 | 0.3 | 0.5 | 0.4 | 0.4 | 0.2 | 1.4 | 1.0 | |||||||||||||||||||||||||||
Other Income | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total Revenues | 18.7 | 19.0 | 18.5 | 18.7 | 19.0 | 19.3 | 18.7 | 56.2 | 57.0 | |||||||||||||||||||||||||||
Incurred Losses and LAE related to: | ||||||||||||||||||||||||||||||||||||
Current Year: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 3.9 | 4.8 | 4.7 | 4.2 | 5.6 | 4.6 | 5.2 | 13.4 | 15.4 | |||||||||||||||||||||||||||
Catastrophe Losses and LAE | 3.3 | 0.8 | 1.8 | 0.9 | 1.4 | 1.6 | 1.6 | 5.9 | 4.6 | |||||||||||||||||||||||||||
Prior Years: | ||||||||||||||||||||||||||||||||||||
Non-catastrophe Losses and LAE | 0.1 | 0.1 | 0.2 | — | (0.3 | ) | (0.1 | ) | 0.4 | 0.4 | — | |||||||||||||||||||||||||
Catastrophe Losses and LAE | 0.2 | 0.2 | 0.3 | 0.1 | (0.1 | ) | (0.4 | ) | 0.3 | 0.7 | (0.2 | ) | ||||||||||||||||||||||||
Total Incurred Losses and LAE | 7.5 | 5.9 | 7.0 | 5.2 | 6.6 | 5.7 | 7.5 | 20.4 | 19.8 | |||||||||||||||||||||||||||
Insurance Expenses | 7.9 | 8.7 | 8.0 | 8.5 | 8.6 | 9.7 | 8.2 | 24.6 | 26.5 | |||||||||||||||||||||||||||
Operating Profit | 3.3 | 4.4 | 3.5 | 5.0 | 3.8 | 3.9 | 3.0 | 11.2 | 10.7 | |||||||||||||||||||||||||||
Income Tax Expense | (1.0 | ) | (1.5 | ) | (1.2 | ) | (1.8 | ) | (1.3 | ) | (1.3 | ) | (1.0 | ) | (3.7 | ) | (3.6 | ) | ||||||||||||||||||
Total Product Line Net Operating Income | $ | 2.3 | $ | 2.9 | $ | 2.3 | $ | 3.2 | $ | 2.5 | $ | 2.6 | $ | 2.0 | $ | 7.5 | $ | 7.1 | ||||||||||||||||||
Ratios Based On Earned Premiums | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 21.5 | % | 26.2 | % | 25.9 | % | 23.2 | % | 30.1 | % | 24.3 | % | 28.1 | % | 24.4 | % | 27.6 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 18.1 | 4.3 | 9.9 | 4.9 | 7.5 | 8.5 | 8.6 | 10.8 | 8.2 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.5 | 0.5 | 1.1 | — | (1.6 | ) | (0.5 | ) | 2.2 | 0.7 | — | |||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | 1.1 | 1.1 | 1.6 | 0.5 | (0.5 | ) | (2.1 | ) | 1.6 | 1.3 | (0.4 | ) | ||||||||||||||||||||||||
Total Incurred Loss and LAE Ratio | 41.2 | 32.1 | 38.5 | 28.6 | 35.5 | 30.2 | 40.5 | 37.2 | 35.4 | |||||||||||||||||||||||||||
Insurance Expense Ratio | 43.4 | 47.3 | 44.0 | 46.7 | 46.2 | 51.3 | 44.3 | 44.9 | 47.3 | |||||||||||||||||||||||||||
Combined Ratio | 84.6 | % | 79.4 | % | 82.5 | % | 75.3 | % | 81.7 | % | 81.5 | % | 84.8 | % | 82.1 | % | 82.7 | % | ||||||||||||||||||
Underlying Combined Ratio 1 | ||||||||||||||||||||||||||||||||||||
Current Year Non-catastrophe Losses and LAE Ratio | 21.5 | % | 26.2 | % | 25.9 | % | 23.2 | % | 30.1 | % | 24.3 | % | 28.1 | % | 24.4 | % | 27.6 | % | ||||||||||||||||||
Insurance Expense Ratio | 43.4 | 47.3 | 44.0 | 46.7 | 46.2 | 51.3 | 44.3 | 44.9 | 47.3 | |||||||||||||||||||||||||||
Underlying Combined Ratio | 64.9 | % | 73.5 | % | 69.9 | % | 69.9 | % | 76.3 | % | 75.6 | % | 72.4 | % | 69.3 | % | 74.9 | % | ||||||||||||||||||
Non-GAAP Measure Reconciliation | ||||||||||||||||||||||||||||||||||||
Underlying Combined Ratio | 64.9 | % | 73.5 | % | 69.9 | % | 69.9 | % | 76.3 | % | 75.6 | % | 72.4 | % | 69.3 | % | 74.9 | % | ||||||||||||||||||
Current Year Catastrophe Losses and LAE Ratio | 18.1 | 4.3 | 9.9 | 4.9 | 7.5 | 8.5 | 8.6 | 10.8 | 8.2 | |||||||||||||||||||||||||||
Prior Years Non-catastrophe Losses and LAE Ratio | 0.5 | 0.5 | 1.1 | — | (1.6 | ) | (0.5 | ) | 2.2 | 0.7 | — | |||||||||||||||||||||||||
Prior Years Catastrophe Losses and LAE Ratio | 1.1 | 1.1 | 1.6 | 0.5 | (0.5 | ) | (2.1 | ) | 1.6 | 1.3 | (0.4 | ) | ||||||||||||||||||||||||
Combined Ratio as Reported | 84.6 | % | 79.4 | % | 82.5 | % | 75.3 | % | 81.7 | % | 81.5 | % | 84.8 | % | 82.1 | % | 82.7 | % | ||||||||||||||||||
1 Underlying Combined Ratio is a non-GAAP measure, which is computed as the difference between three operating ratios: the combined ratio, the effect of catastrophes (excluding development of prior-year catastrophes) on the combined ratio and the effect of prior-year reserve development at the reporting date (including development on prior-year catastrophes) on the combined ratio. |
Kemper Corporation Insurance Expenses and Interest and Other Expenses (Dollars in Millions) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Insurance Expenses: | ||||||||||||||||||||||||||||||||||||
Commissions | $ | 109.6 | $ | 109.0 | $ | 101.9 | $ | 97.7 | $ | 102.9 | $ | 102.7 | $ | 95.9 | $ | 320.5 | $ | 301.5 | ||||||||||||||||||
General Expenses | 50.2 | 48.3 | 49.6 | 51.9 | 51.2 | 54.3 | 51.6 | 148.1 | 157.1 | |||||||||||||||||||||||||||
Taxes, Licenses and Fees | 13.8 | 13.4 | 13.2 | 11.3 | 12.4 | 12.0 | 13.1 | 40.4 | 37.5 | |||||||||||||||||||||||||||
Total Costs Incurred | 173.6 | 170.7 | 164.7 | 160.9 | 166.5 | 169.0 | 160.6 | 509.0 | 496.1 | |||||||||||||||||||||||||||
Policy Acquisition Costs: | ||||||||||||||||||||||||||||||||||||
Deferred | (91.6 | ) | (87.2 | ) | (83.5 | ) | (77.8 | ) | (82.3 | ) | (78.7 | ) | (76.1 | ) | (262.3 | ) | (237.1 | ) | ||||||||||||||||||
Amortized | 80.4 | 78.6 | 75.6 | 74.0 | 76.0 | 76.1 | 73.2 | 234.6 | 225.3 | |||||||||||||||||||||||||||
Net Policy Acquisition Costs Amortized (Deferred) | (11.2 | ) | (8.6 | ) | (7.9 | ) | (3.8 | ) | (6.3 | ) | (2.6 | ) | (2.9 | ) | (27.7 | ) | (11.8 | ) | ||||||||||||||||||
Amortization of Insurance in Force | 1.3 | 1.4 | 1.2 | 1.4 | 1.5 | 1.4 | 1.6 | 3.9 | 4.5 | |||||||||||||||||||||||||||
Insurance Expenses | 163.7 | 163.5 | 158.0 | 158.5 | 161.7 | 167.8 | 159.3 | 485.2 | 488.8 | |||||||||||||||||||||||||||
Interest and Other Expenses: | ||||||||||||||||||||||||||||||||||||
Interest Expense | 7.8 | 8.3 | 10.8 | 10.9 | 11.1 | 11.1 | 11.2 | 26.9 | 33.4 | |||||||||||||||||||||||||||
Other Expenses: | ||||||||||||||||||||||||||||||||||||
Curtailment Gains, Net | — | — | — | — | — | (2.6 | ) | — | — | (2.6 | ) | |||||||||||||||||||||||||
Loss on Cash Flow Hedge | — | 1.1 | — | — | — | — | — | 1.1 | — | |||||||||||||||||||||||||||
Other | 10.4 | 12.0 | 8.7 | 14.4 | 10.9 | 12.2 | 11.1 | 31.1 | 34.2 | |||||||||||||||||||||||||||
Other Expenses | 10.4 | 13.1 | 8.7 | 14.4 | 10.9 | 9.6 | 11.1 | 32.2 | 31.6 | |||||||||||||||||||||||||||
Interest and Other Expenses | 18.2 | 21.4 | 19.5 | 25.3 | 22.0 | 20.7 | 22.3 | 59.1 | 65.0 | |||||||||||||||||||||||||||
Total Expenses | $ | 181.9 | $ | 184.9 | $ | 177.5 | $ | 183.8 | $ | 183.7 | $ | 188.5 | $ | 181.6 | $ | 544.3 | $ | 553.8 | ||||||||||||||||||
Kemper Corporation Details of Investment Performance (Dollars in Millions) | ||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | ||||||||||||||||||||||||||||
Net Investment Income | ||||||||||||||||||||||||||||||||||||
Interest on Fixed Income Securities | $ | 61.8 | $ | 62.1 | $ | 60.1 | $ | 61.5 | $ | 61.4 | $ | 59.8 | $ | 60.0 | $ | 184.0 | $ | 181.2 | ||||||||||||||||||
Dividends on Equity Securities Excluding Alternative Investments | 2.6 | 2.3 | 2.1 | 2.8 | 2.7 | 3.5 | 2.8 | 7.0 | 9.0 | |||||||||||||||||||||||||||
Alternative Investments: | ||||||||||||||||||||||||||||||||||||
Equity Method Limited Liability Investments | 11.1 | 4.0 | 6.8 | 3.8 | 5.2 | 2.8 | (4.3 | ) | 21.9 | 3.7 | ||||||||||||||||||||||||||
Fair Value Option Investments | 0.5 | (0.6 | ) | 1.1 | 2.0 | (1.4 | ) | 0.1 | (2.6 | ) | 1.0 | (3.9 | ) | |||||||||||||||||||||||
Limited Liability Investments Included in Equity Securities | 5.9 | 5.4 | 7.4 | 5.4 | 5.7 | 3.6 | 7.3 | 18.7 | 16.6 | |||||||||||||||||||||||||||
Total Alternative Investments | 17.5 | 8.8 | 15.3 | 11.2 | 9.5 | 6.5 | 0.4 | 41.6 | 16.4 | |||||||||||||||||||||||||||
Short-term Investments | 0.5 | 0.2 | 0.3 | 0.1 | 0.2 | 0.1 | 0.1 | 1.0 | 0.4 | |||||||||||||||||||||||||||
Real Estate | 2.6 | 2.8 | 2.9 | 2.9 | 3.0 | 2.9 | 3.0 | 8.3 | 8.9 | |||||||||||||||||||||||||||
Loans to Policyholders | 4.9 | 5.3 | 5.5 | 5.5 | 5.4 | 5.3 | 5.4 | 15.7 | 16.1 | |||||||||||||||||||||||||||
Other | 0.1 | 0.1 | — | 0.3 | — | — | — | 0.2 | — | |||||||||||||||||||||||||||
Total Investment Income | 90.0 | 81.6 | 86.2 | 84.3 | 82.2 | 78.1 | 71.7 | 257.8 | 232.0 | |||||||||||||||||||||||||||
Investment Expenses: | ||||||||||||||||||||||||||||||||||||
Real Estate | 2.6 | 2.5 | 2.6 | 2.6 | 2.9 | 2.8 | 2.7 | 7.7 | 8.4 | |||||||||||||||||||||||||||
Other Investment Expenses | 1.5 | 2.0 | 2.0 | 1.8 | 1.6 | 1.6 | 2.0 | 5.5 | 5.2 | |||||||||||||||||||||||||||
Total Investment Expenses | 4.1 | 4.5 | 4.6 | 4.4 | 4.5 | 4.4 | 4.7 | 13.2 | 13.6 | |||||||||||||||||||||||||||
Net Investment Income | $ | 85.9 | $ | 77.1 | $ | 81.6 | $ | 79.9 | $ | 77.7 | $ | 73.7 | $ | 67.0 | $ | 244.6 | $ | 218.4 | ||||||||||||||||||
Net Realized Gains on Sales of Investments | ||||||||||||||||||||||||||||||||||||
Fixed Maturities: | ||||||||||||||||||||||||||||||||||||
Gains on Sales | $ | 2.4 | $ | 3.5 | $ | 1.4 | $ | 2.9 | $ | 2.7 | $ | 4.3 | $ | 7.1 | $ | 7.3 | $ | 14.1 | ||||||||||||||||||
Losses on Sales | — | (0.2 | ) | (0.2 | ) | (3.5 | ) | (0.8 | ) | — | (0.3 | ) | (0.4 | ) | (1.1 | ) | ||||||||||||||||||||
Equity Securities: | ||||||||||||||||||||||||||||||||||||
Gains on Sales | 3.9 | 18.3 | 8.9 | 10.1 | 9.3 | 0.5 | — | 31.1 | 9.8 | |||||||||||||||||||||||||||
Losses on Sales | — | — | — | (0.2 | ) | — | (0.1 | ) | — | — | (0.1 | ) | ||||||||||||||||||||||||
Real Estate: | ||||||||||||||||||||||||||||||||||||
Gains on Sales | 1.6 | 4.7 | 0.1 | 0.1 | 0.1 | 0.9 | — | 6.4 | 1.0 | |||||||||||||||||||||||||||
Other Investments: | ||||||||||||||||||||||||||||||||||||
Gains on Sales | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Losses on Sales | — | (0.1 | ) | — | (0.1 | ) | — | (0.1 | ) | — | (0.1 | ) | (0.1 | ) | ||||||||||||||||||||||
Trading Securities Net Gains (Losses) | 0.2 | 0.2 | 0.3 | (0.2 | ) | 0.3 | 0.1 | — | 0.7 | 0.4 | ||||||||||||||||||||||||||
Net Realized Gains on Sales of Investments | $ | 8.1 | $ | 26.4 | $ | 10.5 | $ | 9.1 | $ | 11.6 | $ | 5.6 | $ | 6.8 | $ | 45.0 | $ | 24.0 | ||||||||||||||||||
Net Impairment Losses Recognized in Earnings | ||||||||||||||||||||||||||||||||||||
Fixed Maturities | $ | (2.9 | ) | $ | (2.2 | ) | $ | (4.7 | ) | $ | (4.8 | ) | $ | (8.3 | ) | $ | (5.7 | ) | $ | (7.8 | ) | $ | (9.8 | ) | $ | (21.8 | ) | |||||||||
Equity Securities | — | (0.4 | ) | (0.3 | ) | (3.4 | ) | — | (0.7 | ) | (1.5 | ) | (0.7 | ) | (2.2 | ) | ||||||||||||||||||||
Real Estate | — | — | — | (0.5 | ) | — | — | — | — | — | ||||||||||||||||||||||||||
Net Impairment Losses Recognized in Earnings | $ | (2.9 | ) | $ | (2.6 | ) | $ | (5.0 | ) | $ | (8.7 | ) | $ | (8.3 | ) | $ | (6.4 | ) | $ | (9.3 | ) | $ | (10.5 | ) | $ | (24.0 | ) | |||||||||
Kemper Corporation Details of Invested Assets (Dollars in Millions) (Unaudited) | |||||||||||||||||||||
Sep 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | |||||||||||||||||||
Carrying Value | Percent of Total1 | Carrying Value | Percent of Total1 | Carrying Value | Percent of Total1 | ||||||||||||||||
Fixed Maturities Reported at Fair Value: | |||||||||||||||||||||
U.S. Government and Government Agencies and Authorities | $ | 359.1 | 5.4 | % | $ | 336.3 | 5.1 | % | $ | 320.6 | 5.0 | % | |||||||||
States and Political Subdivisions | 1,723.0 | 25.9 | 1,714.9 | 26.0 | 1,622.6 | 25.2 | |||||||||||||||
Foreign Governments | 3.3 | — | 3.4 | 0.1 | — | — | |||||||||||||||
Corporate Securities: | |||||||||||||||||||||
Bonds and Notes | 3,033.1 | 45.6 | 2,944.8 | 44.6 | 2,812.8 | 43.7 | |||||||||||||||
Redeemable Preferred Stocks | 0.1 | — | 0.6 | — | 3.8 | 0.1 | |||||||||||||||
Collaterized Loan Obligations | 123.1 | 1.9 | 122.8 | 1.9 | 87.3 | 1.4 | |||||||||||||||
Other Mortgage- and Asset-backed | 1.1 | — | 2.1 | — | 5.2 | 0.1 | |||||||||||||||
Subtotal Fixed Maturities Reported at Fair Value | 5,242.8 | 78.8 | 5,124.9 | 77.7 | 4,852.3 | 75.5 | |||||||||||||||
Equity Securities Reported at Fair Value: | |||||||||||||||||||||
Preferred Stocks | 83.2 | 1.3 | 82.5 | 1.2 | 103.9 | 1.6 | |||||||||||||||
Common Stocks | 21.0 | 0.3 | 45.2 | 0.7 | 36.7 | 0.6 | |||||||||||||||
Other Equity Interests: | |||||||||||||||||||||
Exchange Traded Funds | 205.0 | 3.1 | 144.4 | 2.2 | 177.1 | 2.8 | |||||||||||||||
Limited Liability Companies and Limited Partnerships | 202.9 | 3.1 | 209.6 | 3.2 | 205.5 | 3.2 | |||||||||||||||
Subtotal Equity Securities Reported at Fair Value | 512.1 | 7.7 | 481.7 | 7.3 | 523.2 | 8.2 | |||||||||||||||
Equity Method Limited Liability Investments | 160.1 | 2.4 | 175.9 | 2.7 | 190.6 | 3.0 | |||||||||||||||
Fair Value Option Investments | 77.1 | 1.2 | 111.4 | 1.7 | 164.5 | 2.6 | |||||||||||||||
Short-term Investments at Cost which Approximates Fair Value | 239.0 | 3.6 | 273.7 | 4.1 | 255.7 | 4.0 | |||||||||||||||
Other Investments: | |||||||||||||||||||||
Loans to Policyholders at Unpaid Principal | 295.5 | 4.4 | 294.2 | 4.5 | 288.4 | 4.5 | |||||||||||||||
Real Estate at Depreciated Cost | 118.1 | 1.8 | 140.2 | 2.1 | 149.8 | 2.3 | |||||||||||||||
Trading Securities at Fair Value | 6.3 | 0.1 | 5.3 | 0.1 | 4.7 | 0.1 | |||||||||||||||
Other | 0.1 | — | 0.2 | — | 0.3 | — | |||||||||||||||
Subtotal Other Investments | 420.0 | 6.3 | 439.9 | 6.7 | 443.2 | 6.9 | |||||||||||||||
Total Investments | $ | 6,651.1 | 100.0 | % | $ | 6,607.5 | 100.0 | % | $ | 6,429.5 | 100.0 | % | |||||||||
S&P Equivalent Rating for Fixed Maturities | |||||||||||||||||||||
AAA, AA, A | $ | 3,319.3 | 63.3 | % | $ | 3,280.4 | 64.0 | % | $ | 3,222.5 | 66.4 | % | |||||||||
BBB | 1,389.6 | 26.5 | 1,338.2 | 26.1 | 1,149.0 | 23.7 | |||||||||||||||
BB, B | 337.5 | 6.4 | 321.6 | 6.3 | 222.4 | 4.6 | |||||||||||||||
CCC or Lower | 196.4 | 3.7 | 184.7 | 3.6 | 258.4 | 5.3 | |||||||||||||||
Total Investments in Fixed Maturities | $ | 5,242.8 | 100.0 | % | $ | 5,124.9 | 100.0 | % | $ | 4,852.3 | 100.0 | % | |||||||||
Duration (in Years) | |||||||||||||||||||||
Total Investments in Fixed Maturities | 6.1 | 6.3 | 6.5 | ||||||||||||||||||
1 Sum of percentages for individual lines may not equal subtotals and grand total due to rounding. |
Kemper Corporation Investment Concentration (Dollars in Millions) (Unaudited) | |||||||||||||||||||||
Sep 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | |||||||||||||||||||
Fair Value of Non-governmental Fixed Maturities by Industry | Amount | Percent of Total Investments | Amount | Percent of Total Investments | Amount | Percent of Total Investments | |||||||||||||||
Manufacturing | $ | 1,221.7 | 18.4 | % | $ | 1,227.8 | 18.6 | % | $ | 1,160.4 | 18.0 | % | |||||||||
Finance, Insurance and Real Estate | 767.9 | 11.5 | 742.6 | 11.2 | 707.4 | 11.0 | |||||||||||||||
Services | 436.8 | 6.6 | 391.6 | 5.9 | 374.4 | 5.8 | |||||||||||||||
Transportation, Communication and Utilities | 369.1 | 5.5 | 364.1 | 5.5 | 334.4 | 5.2 | |||||||||||||||
Mining | 166.2 | 2.5 | 157.2 | 2.4 | 139.7 | 2.2 | |||||||||||||||
Retail Trade | 103.9 | 1.6 | 101.9 | 1.5 | 91.1 | 1.4 | |||||||||||||||
Wholesale Trade | 73.4 | 1.1 | 69.2 | 1.0 | 80.6 | 1.3 | |||||||||||||||
Agriculture, Forestry and Fishing | 14.7 | 0.2 | 14.4 | 0.2 | 20.6 | 0.3 | |||||||||||||||
Other | 3.7 | 0.1 | 1.5 | — | 0.5 | — | |||||||||||||||
Total Fair Value of Non-governmental Fixed Maturities | $ | 3,157.4 | 47.5 | % | $ | 3,070.3 | 46.3 | % | $ | 2,909.1 | 45.2 | % |
Sep 30, 2017 | |||||||||
Ten Largest Investment Exposures 1 | Fair Value | Percent of Total Investments | |||||||
Fixed Maturities: | |||||||||
States including their Political Subdivisions: | |||||||||
Texas | $ | 102.0 | 1.5 | % | |||||
Georgia | 88.8 | 1.3 | |||||||
Michigan | 88.1 | 1.3 | |||||||
Louisiana | 73.4 | 1.1 | |||||||
Ohio | 72.7 | 1.1 | |||||||
Colorado | 66.0 | 1.0 | |||||||
Virginia | 65.0 | 1.0 | |||||||
Florida | 62.3 | 0.9 | |||||||
Wisconsin | 57.2 | 0.9 | |||||||
Equity Securities—Other Equity Interests: | |||||||||
iShares® Core S&P 500 ETF | 84.3 | 1.3 | |||||||
Total | $ | 759.8 | 11.4 | % |
1 | Excluding Investments in U.S. Government and Government Agencies and Authorities and Obligations of States and Political Subdivisions pre-refunded with U.S. government and government agencies obligations held in Trust at September 30, 2017. |
Kemper Corporation Municipal Bond Securities (Dollars in Millions) (Unaudited) | ||||||||||||||||||||||
Sep 30, 2017 | ||||||||||||||||||||||
State General Obligation | Political Subdivision General Obligation | Revenue | Total Fair Value | Percent of Total Muni Bond1 | Percent of Total Investments1 | |||||||||||||||||
Texas | $ | 8.0 | $ | 23.5 | $ | 70.5 | $ | 102.0 | 5.9 | % | 1.5 | % | ||||||||||
Georgia | 51.7 | 9.2 | 27.9 | 88.8 | 5.2 | 1.3 | ||||||||||||||||
Michigan | 38.7 | — | 49.4 | 88.1 | 5.1 | 1.3 | ||||||||||||||||
Louisiana | 43.8 | 7.0 | 22.6 | 73.4 | 4.3 | 1.1 | ||||||||||||||||
Ohio | 26.6 | 5.1 | 41.0 | 72.7 | 4.2 | 1.1 | ||||||||||||||||
Colorado | — | 15.2 | 50.8 | 66.0 | 3.8 | 1.0 | ||||||||||||||||
Virginia | 26.1 | 19.8 | 19.1 | 65.0 | 3.8 | 1.0 | ||||||||||||||||
Florida | 48.6 | — | 13.7 | 62.3 | 3.6 | 0.9 | ||||||||||||||||
Wisconsin | 48.5 | 7.3 | 1.4 | 57.2 | 3.3 | 0.9 | ||||||||||||||||
New York | 6.2 | 2.7 | 47.8 | 56.7 | 3.3 | 0.9 | ||||||||||||||||
Minnesota | 25.5 | 0.4 | 24.3 | 50.2 | 2.9 | 0.8 | ||||||||||||||||
Indiana | 1.5 | — | 46.5 | 48.0 | 2.8 | 0.7 | ||||||||||||||||
Washington | 7.8 | 0.3 | 38.5 | 46.6 | 2.7 | 0.7 | ||||||||||||||||
Massachusetts | 2.7 | 2.5 | 40.7 | 45.9 | 2.7 | 0.7 | ||||||||||||||||
Oregon | 37.5 | — | 3.5 | 41.0 | 2.4 | 0.6 | ||||||||||||||||
California | 0.3 | — | 39.1 | 39.4 | 2.3 | 0.6 | ||||||||||||||||
North Carolina | 7.0 | 3.1 | 28.5 | 38.6 | 2.2 | 0.6 | ||||||||||||||||
Utah | 16.4 | 1.6 | 18.8 | 36.8 | 2.1 | 0.6 | ||||||||||||||||
Nevada | 28.1 | 7.0 | — | 35.1 | 2.0 | 0.5 | ||||||||||||||||
New Mexico | — | — | 33.7 | 33.7 | 2.0 | 0.5 | ||||||||||||||||
Arizona | — | 0.8 | 32.5 | 33.3 | 1.9 | 0.5 | ||||||||||||||||
Arkansas | 32.9 | — | — | 32.9 | 1.9 | 0.5 | ||||||||||||||||
Pennsylvania | 11.5 | 2.8 | 18.3 | 32.6 | 1.9 | 0.5 | ||||||||||||||||
Maryland | 2.7 | 21.4 | 6.4 | 30.5 | 1.8 | 0.5 | ||||||||||||||||
Mississippi | 28.5 | — | 0.5 | 29.0 | 1.7 | 0.4 | ||||||||||||||||
Delaware | 17.0 | — | 9.7 | 26.7 | 1.5 | 0.4 | ||||||||||||||||
Tennessee | 7.8 | 7.6 | 10.6 | 26.0 | 1.5 | 0.4 | ||||||||||||||||
New Jersey | — | 5.2 | 20.6 | 25.8 | 1.5 | 0.4 | ||||||||||||||||
South Carolina | 19.1 | 3.0 | 2.4 | 24.5 | 1.4 | 0.4 | ||||||||||||||||
Connecticut | 24.2 | — | — | 24.2 | 1.4 | 0.4 | ||||||||||||||||
District Of Columbia | — | 5.0 | 18.2 | 23.2 | 1.3 | 0.3 | ||||||||||||||||
Iowa | — | — | 22.2 | 22.2 | 1.3 | 0.3 | ||||||||||||||||
Alaska | 4.2 | 3.0 | 15.0 | 22.2 | 1.3 | 0.3 | ||||||||||||||||
Hawaii | 20.7 | — | — | 20.7 | 1.2 | 0.3 | ||||||||||||||||
Alabama | 9.6 | — | 11.0 | 20.6 | 1.2 | 0.3 | ||||||||||||||||
Illinois | — | — | 20.3 | 20.3 | 1.2 | 0.3 | ||||||||||||||||
Missouri | — | — | 19.0 | 19.0 | 1.1 | 0.3 | ||||||||||||||||
Nebraska | — | 6.9 | 12.1 | 19.0 | 1.1 | 0.3 | ||||||||||||||||
Rhode Island | 4.9 | — | 13.8 | 18.7 | 1.1 | 0.3 | ||||||||||||||||
All Other States | 6.6 | 11.5 | 86.0 | 104.1 | 6.0 | 1.6 | ||||||||||||||||
Total | $ | 614.7 | $ | 171.9 | $ | 936.4 | $ | 1,723.0 | 100.0 | % | 25.9 | % | ||||||||||
1 Sum of percentages for individual lines may not equal total due to rounding. |
Kemper Corporation Investments in Limited Liability Companies and Limited Partnerships (Dollars in Millions) (Unaudited) | ||||||||||||
Unfunded Commitment | Reported Value | |||||||||||
Asset Class | Sep 30, 2017 | Sep 30, 2017 | Dec 31, 2016 | |||||||||
Reported as Equity Method Limited Liability Investments at Cost Plus Cumulative Undistributed Earnings: | ||||||||||||
Mezzanine Debt | $ | 60.8 | $ | 62.5 | $ | 63.2 | ||||||
Distressed Debt | — | 57.3 | 65.4 | |||||||||
Secondary Transactions | 18.9 | 21.4 | 27.3 | |||||||||
Senior Debt | 2.7 | 5.6 | 6.6 | |||||||||
Leveraged Buyout | 0.1 | 2.9 | — | |||||||||
Growth Equity | — | 5.7 | 4.6 | |||||||||
Other | — | 4.7 | 8.8 | |||||||||
Total Equity Method Limited Liability Investments | 82.5 | 160.1 | 175.9 | |||||||||
Reported as Other Equity Interests at Fair Value: | ||||||||||||
Mezzanine Debt | 82.9 | 104.3 | 97.6 | |||||||||
Senior Debt | 30.8 | 33.8 | 36.4 | |||||||||
Distressed Debt | 3.6 | 17.6 | 18.8 | |||||||||
Secondary Transactions | 10.3 | 9.8 | 11.9 | |||||||||
Hedge Fund | — | — | — | |||||||||
Leveraged Buyout | 3.1 | 6.2 | 6.5 | |||||||||
Real Estate | — | — | — | |||||||||
Other | 2.3 | 31.2 | 38.4 | |||||||||
Total Reported as Other Equity Interests at Fair Value | 133.0 | 202.9 | 209.6 | |||||||||
Reported as Fair Value Option Investments: | ||||||||||||
Hedge Funds | — | 77.1 | 111.4 | |||||||||
Total Investments in Limited Liability Companies and Limited Partnerships | $ | 215.5 | $ | 440.1 | $ | 496.9 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
Dollars in Millions (Unaudited) | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | |||||||||||||||||||||||||||
Consolidated Net Operating Income (Loss) | $ | 44.4 | $ | 21.0 | $ | (3.9 | ) | $ | 28.8 | $ | (20.4 | ) | $ | 4.6 | $ | (0.6 | ) | $ | 61.5 | $ | (16.4 | ) | ||||||||||||||
Net Income (Loss) From: | ||||||||||||||||||||||||||||||||||||
Net Realized Gains on Sales of Investments | 5.3 | 17.2 | 6.8 | 5.9 | 7.5 | 3.7 | 4.4 | 29.3 | 15.6 | |||||||||||||||||||||||||||
Net Impairment Losses Recognized in Earnings | (1.9 | ) | (1.6 | ) | (3.3 | ) | (5.6 | ) | (5.4 | ) | (4.2 | ) | (6.0 | ) | (6.8 | ) | (15.6 | ) | ||||||||||||||||||
Income (Loss) from Continuing Operations | $ | 47.8 | $ | 36.6 | $ | (0.4 | ) | $ | 29.1 | $ | (18.3 | ) | $ | 4.1 | $ | (2.2 | ) | $ | 84.0 | $ | (16.4 | ) | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||
(Unaudited) | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Sep 30, 2017 | Sep 30, 2016 | |||||||||||||||||||||||||||
Consolidated Net Operating Income (Loss) Per Unrestricted Share | $ | 0.85 | $ | 0.41 | $ | (0.08 | ) | $ | 0.56 | $ | (0.40 | ) | $ | 0.09 | $ | (0.01 | ) | $ | 1.19 | $ | (0.31 | ) | ||||||||||||||
Net Income (Loss) Per Unrestricted Share From: | ||||||||||||||||||||||||||||||||||||
Net Realized Gains on Sales of Investments | 0.10 | 0.33 | 0.13 | 0.11 | 0.15 | 0.07 | 0.09 | 0.57 | 0.30 | |||||||||||||||||||||||||||
Net Impairment Losses Recognized in Earnings | (0.03 | ) | (0.03 | ) | (0.06 | ) | (0.11 | ) | (0.11 | ) | (0.08 | ) | (0.12 | ) | (0.13 | ) | (0.30 | ) | ||||||||||||||||||
Income (Loss) from Continuing Operations Per Unrestricted Share | $ | 0.92 | $ | 0.71 | $ | (0.01 | ) | $ | 0.56 | $ | (0.36 | ) | $ | 0.08 | $ | (0.04 | ) | $ | 1.63 | $ | (0.31 | ) | ||||||||||||||
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