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Deferred Policy Acquisition Costs
 3 Months Ended
Mar. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Deferred Policy Acquisition Costs Deferred Policy Acquisition Costs
The following tables present the balances and changes in Deferred Policy Acquisition Costs for the Specialty Property and Casualty Insurance segment, Life Insurance segment, and Non-Core Operations business for the three months ended March 31, 2025 and 2024:
(Dollars in Millions)
Specialty
Life
Segment Total
Non-Core Operations
Total
Balance, December 31, 20241
$162.8 $463.1 $625.9 $4.1 $630.0 
Capitalizations143.0 14.9 157.9 1.7 159.6 
Amortization Expense2
(128.9)(7.1)(136.0)(2.4)(138.4)
Balance, March 31, 20251
$176.9 $470.9 $647.8 $3.4 $651.2 
1 Includes $1.5 million and $1.1 million attributable to Kemper Reciprocal as of March 31, 2025 and December 31, 2024, respectively, which is reported as a consolidated variable interest entity.
2 The Life Insurance segment includes increases to amortization expense related to experience adjustments of $0.9 million for the three months ended March 31, 2025.

(Dollars in Millions)
Specialty
Life
Segment Total
Non-Core Operations
Total
Balance, December 31, 20231
$142.7 $427.0 $569.7 $22.0 $591.7 
Capitalizations112.9 16.8 129.7 6.9 136.6 
Amortization Expense2
(112.0)(7.7)(119.7)(12.7)(132.4)
Balance, March 31, 20241
$143.6 $436.1 $579.7 $16.2 $595.9 
1 Includes $0.6 million and $0.1 million attributable to Kemper Reciprocal as of March 31, 2024 and December 31, 2023, respectively, which is reported as a consolidated variable interest entity.
2 The Life Insurance segment includes increases to amortization expense related to experience adjustments of $1.4 million for the three months ended March 31, 2024.
Note 10 - Deferred Policy Acquisition Costs (Continued)
Costs directly associated with the successful acquisition of business, principally commissions and certain premium taxes and policy issuance costs, are deferred. Costs deferred on property and casualty insurance contracts are amortized over the period in which premiums are earned. Costs deferred on traditional life insurance products and other long-duration insurance contracts are amortized on a constant level basis over the expected life of the contracts in accordance with the assumptions used to estimate the liability for future policyholder benefits for nonparticipating traditional and limited-payment contracts. The underlying assumptions for deferred policy acquisition costs and the liability for future policyholder benefits are updated concurrently.
The Company did not make any changes to future assumptions for the three months ended March 31, 2025 and 2024.