财务数据和关键指标变化 - 第三季度净亏损为每股摊薄2.28美元，调整后综合净运营亏损为0.44美元，净亏损中包含与终止剩余养老金义务相关的5600万美元非现金费用 [6] - 本季度净投资收入为1.07亿美元，税前等效年化账面收益率为4.6% [10] - 截至季度末，公司拥有8.2亿美元的流动性，预计第四季度百慕大优化项目将至少增加2.5亿美元的母公司流动性 [9] - 公司重申2024年财务指引，预计2024年净资产收益率（ROE）等于或高于10% [5] 各条业务线数据和关键指标变化 特种财产险业务 - 第三季度基础综合比率环比改善1.5个百分点，同比改善6.3个百分点，损失趋势虽仍处于高位但已企稳 [12] - 本季度提交了占业务量13%的额外6个百分点的费率申请，预计第四季度和2024年利率上调将加速 [12] - 本季度观察到由热带风暴和狂风/冰雹事件导致的适度巨灾损失，商业车辆承保和费率行动对损失表现产生积极影响 [12] 寿险业务 - 第三季度净运营收入为1500万美元，盈利能力较上一年度同期和上一季度有所改善 [17] - 消费者对公司产品的需求强劲，寿险发行保单略有增加，保单持续率保持稳定 [17] 各个市场数据和关键指标变化 - 公司观察到市场环境趋紧，尤其是在加利福尼亚州，续保保单以较高费率续保，保单持续率与前期持平，保费留存情况良好 [12] 公司战略和发展方向和行业竞争 - 公司推进多项战略举措，包括百慕大项目、养老金终止项目、退出首选财产险业务、建立互惠交换平台等，以降低风险、改善资本和流动性，并增强产生稳定长期现金流和收益的能力 [4][78][80] - 计划在第四季度或第一季度开始少量增加新业务，以测试承保标准和新业务表现 [20][23] - 行业面临个人汽车保险市场动态和波动的环境，公司认为这种情况将至少持续一到两年 [5] 管理层对经营环境和未来前景的评论 - 管理层认为当前环境是个人汽车保险行业有史以来最具活力和波动性的，但对公司未来前景持乐观态度 [5] - 鉴于业务的短尾性质，管理层有信心已在前期和当前年度准备金中适当确认了新兴趋势 [8] - 预计累积的盈利行动将继续超过损失趋势，公司有望在2024年实现目标盈利能力 [12][16][81] 其他重要信息 - 公司退出首选财产险业务的清算过程正在进行中，预计到2024年底释放约1.75亿美元资本，2025年再释放1亿美元 [80] - 成本降低举措已实现超过1.35亿美元的运行率节省，约为2025年目标的90% [80] - 公司互惠交换平台已获得所有必要批准，并于第三季度在伊利诺伊州开始承保业务，计划在未来一年通过再保险和直接承保扩大业务 [80] 总结问答环节所有的提问和回答 问题1: 特种业务的保单数量和保费下降的原因 - 主要是由于新业务限制，而非竞争问题导致退保率上升，公司计划在第四季度或第一季度开始少量增加新业务以测试系统 [20][21] 问题2: 增加新业务的方式和预期 - 公司将少量增加新业务，测试承保标准和新业务表现，预计不会出现大规模增长，同时关注基础损失比率的变化 [23][24] 问题3: 母公司流动性的使用和资产负债表的演变 - 截至2022年底的高现金水平是异常情况，Q2到Q3下降的1.5亿美元主要是由于控股公司现金和流动性减少以及循环信贷额度降低，预计年底百慕大优化项目将增加2.5亿美元以上的流动性，未来12个月公司的现金使用约为1.5亿美元，现有流动性可覆盖多年 [32][33] 问题4: 能否从子公司分红 - 可以从子公司，特别是寿险公司提取资本 [40] 问题5: 个人汽车业务准备金是否充足以及商业汽车业务的情况 - 公司对个人汽车业务准备金充足有信心，因为业务是短尾的，且已考虑到索赔频率和严重程度的增加，商业汽车业务的基础综合比率为93.6%，表现良好 [44][48] 问题6: 资本状况对推出互惠交换平台的影响 - 再保险业务到互惠交换平台将为母公司提供资本 relief，不会影响推出互惠交换平台，且未来可引入第三方资本 [47][51][52] 问题7: 目标盈利能力和目标综合比率 - 公司未提供目标综合比率，但预计2024年净资产收益率达到10%以上，随着费率上升和新业务增加，综合比率将在目标范围内波动 [54] 问题8: 循环信贷额度降低的原因 - 是由于触及杠杆契约，目前的额度仍有充足的流动性，无需担忧 [57] 问题9: 首选业务的会计处理 - 首选业务作为非核心业务处理，不会作为单独的业务板块披露，但会包含在合并财务报表中 [63][64][66] 问题10: 10%以上ROE的预期是否合理 - 这是一个基本的GAAP ROE计算，公司坚持这一目标，并非试图隐藏或传递不同信号 [70]

Catastrophe Aggregate Program: Non-GAAP Financial Measures Earnings Call Presentation – 3Q 2023 The Company believes that Adjusted Consolidated Net Operating Loss provides investors with a valuable measure of its ongoing performance because it reveals underlying operational performance trends that otherwise might be less apparent if the items were not excluded. Income (Loss) from Change in Fair Value of Equity and Convertible Securities, Net Realized Investment (Losses) Gains and Impairment (Losses) Gains r ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________________ FORM 10-Q ______________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended 9/30/2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period from to Commission file number 001-18298 ____________________________ ...

Kemper Corporation (NYSE:KMPR) Q2 2023 Earnings Conference Call August 7, 2023 5:00 PM ET Company Participants Karen Guerra - Vice President of Investor Relations Joe Lacher - President and Chief Executive Officer and Chairman Jim McKinney - Executive Vice President and Chief Financial Officer Matt Hunton - Executive Vice President and President of Kemper Auto Conference Call Participants Greg Peters - Raymond James Paul Newsome - Piper Sandler Operator Good afternoon, ladies and gentlemen, and welcome to K ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________________ FORM 10-Q ______________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended 6/30/2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period from to Commission file number 001-18298 ____________________________ ...

Kemper Corporation (NYSE:KMPR) Q1 2023 Earnings Conference Call May 8, 2023 5:00 PM ET Company Participants Karen Guerra - Vice President, Investor Relations Joe Lacher - President and Chief Executive Officer and Chairman Jim McKinney - Executive Vice President and Chief Financial Officer Matt Hunton - Executive Vice President and President, Kemper Auto Duane Sanders - Executive Vice President and President, P&C John Boschelli - Executive Vice President and Chief Investment Officer Conference Call Participa ...

May 8, 2023 Cautionary Statements Regarding Forward-Looking Information Non-GAAP Financial Measures 2 Life insurance for low/modestincome customers Have Limited or Unfocused Competition Distribution First Quarter Preliminary Matters Kemper assumes no obligation to publicly correct or update any forward-looking statements as a result of events or developments subsequent to the date of this presentation. 2 Delivering appropriate and affordable insurance and financial solutions Specialty auto insurancefor unde ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________________ FORM 10-Q ______________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended 3/31/2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period from to Commission file number 001-18298 ____________________________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-18298 Kemper Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of DE 95-4255452 (I.R.S. Employer Identification No.) 200 E. Randolp ...

Kemper Corp (NYSE:KMPR) Q4 2022 Earnings Conference Call February 2, 2023 5:00 PM ET Company Participants Karen Guerra - VP, IR Joseph Lacher - CEO James McKinney - EVP & CFO Matthew Hunton - EVP & President, Kemper Auto Duane Sanders - EVP & President, P&C Claims & Personal Insurance Timmy Stonehocker - EVP & President, Kemper Life Conference Call Participants Charles Peters - Raymond James & Associates Brian Meredith - UBS Jon Newsome - Piper Sandler & Co. Andrew Kligerman - Crédit Suisse Operator Good af ...