Reinsurance News
Kemper Corporation
Kemper reports a net loss of $76.2m in Q3
3rd November 2022
Kemper Corporation has reported a net loss of $76.2 million for the third quarter of 2022, compared to a net loss of $75.3 million for the third quarter of 2021. Total revenues for Q3 of 2022 decreased $67.0 million, or 5%, to $1,377.6 million, compared to Q3 of the previous year, ... Read the full article
Kemper anticipates cat losses between $20-30m for Q3
24th October 2022
Kemper Corporation has reported it anticipates its Q3 2022 results will include pre-tax catastrophe losses ranging from $25m to $30m, primarily related to Hurricane Ian. The company notes that it does not expect to recover any of these losses under its reinsurance programs. Nor does it anticipate adverse prior-year development. Kemper ... Read the full article
AM Best downgrades Kemper on earnings deterioration
12th August 2022
A prolonged deterioration in the earnings of Kemper P&C and Kemper Corp last year and into 2022 is the reason given by AM Best for its decision to downgrade the firms’ Financial Strength Ratings (FSR). AM Best said in a statement that it was downgrading the FSRs for all P&C subsidiaries ... Read the full article
Kemper reports $74mn net loss in Q2 results
10th August 2022
Kemper Corporation has reported a net loss of $74.7 million for the second quarter of 2022, compared to a net loss of $62.6 million from the second quarter of 2021. Total revenues for the quarter decreased $68.7 million (5%), to $1,433.8 million, compared to the second quarter of 2021, driven by ... Read the full article
AF Specialty names Walter Matthews as VP
21st February 2022
Specialty insurer AF group has promoted its current Managing Director Walter Matthews to the role of Vice President of AF Specialty. Matthews joined the company in 2010, and has held various positions within the Actuarial department, providing oversight of the organisation's actuarial services related to reserving, pricing, underwriting strategies, forecasting and ... Read the full article
Kemper increases excess of loss reinsurance cover for 2022
1st February 2022
Kemper has increased the excess of its loss reinsurance program for this year by a third. The rise, from $225m to $300m, comes from what the insurer says is the ‘increased size of business’. The current program covers losses at 95% of $300m in excess of than $50m. Wrote the insurer in ... Read the full article
Kemper CEO Lacher appointed Chairman as Joyce named Lead Director
6th May 2021
Kemper has announced that its President and Chief Executive Officer (CEO), and current director, Joseph P. Lacher, Jr., will take on the additional role of Chairman the Board, effective immediately. Lacher assumes the position from Robert J. Joyce, who has transitioned from the role of non-executive chairman to independent lead director. Lacher ... Read the full article
Kemper Corp reports net income of $123.2mn
30th April 2021
US insurer Kemper Corporation has reported net income of $123.2 million for its Q1 results compared to $64.0 million, for the year prior. In the first quarter of 2021, net income included a $41.2 million after-tax gain, or $0.62 per diluted share, attributable to the change in fair value of equity ... Read the full article
Kemper wraps up $370mn American Access acquisition
9th April 2021
US insurer Kemper has closed its previously announced acquisition of American Access Casualty Company for a deal valued at around $370 million. The acquisition was first announced in November 2020 and also includes American Access' related captive insurance agency Newins Insurance Agency Holdings and its subsidiaries (collectively known as AAC). AAC ... Read the full article
Kemper’s Q4 income slumps to $98mn
2nd February 2021
US insurer Kemper has reported that it’s net income in the fourth quarter of 2020 was $97.5 million, representing a 22% decrease on the $124.7 million it reported for the same period in 2019. Looking at the full year, Kemper’s 2020 income similarly dropped 23% from $531.1 million to $409.9 million. The ... Read the full article
Kemper adds Ismat Aziz as Chief HR, Administrative Officer
7th January 2021
US insurer Kemper has added Ismat Aziz as Chief Human Resources Officer (CHRO) and Chief Administrative Officer. Aziz will report to Joseph Lacher, Jr., Kemper President and CEO, and will be based at Kemper’s headquarters office in Chicago. She has over 25 years of HR experience, most recently serving at US Bank ... Read the full article
Kemper to acquire American Access in $370mn deal
24th November 2020
US insurer Kemper is set to acquire American Access Casualty, its related captive insurance agency Newins Insurance Agency Holdings, as well as its subsidiaries, in a cash transaction valued at $370 million. The transaction is expected to close in the first quarter of 2021 and is subject to regulatory approval and ... Read the full article
Kemper’s Q3 results show drop in net income
3rd November 2020
US insurer Kemper Corporation has announced its Q3 results which show that net income has dropped to $122.3 million, compared to $129mn in the same period last year. The company's adjusted consolidated net operating income was $90.9 million for Q3 2020, compared to $130.0 million for Q3 2019. However, the insurer's specialty ... Read the full article
Kemper’s Q3 results to include cat losses of up to $68mn
20th October 2020
Kemper Corporation has announced that it anticipates its third quarter 2020 results will include pre-tax catastrophe losses ranging from $62 million to $68 million, primarily related to wildfire and hurricane events. The company notes that it does not expect ... Read the full article
Kemper posts slight rise in Q2 net income
4th August 2020
Kemper Corporation has reported a net income of $126.1 million for the second quarter of 2020, a slight increase from $122.1 million in the prior year quarter. Total revenues for the second quarter decreased $44.5 million to $1,230.9 million, driven by $7 million of lower Specialty P&C earned premiums and a ... Read the full article
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