Moody’s Upgrades Kemper’s Outlook to Positive, Affirms Ratings
June 04 2021 - 8:00AM
Business Wire
Kemper Corporation (NYSE: KMPR) announced today that Moody’s
Investors Service has revised the rating outlook for Kemper to
positive from stable based on the group’s improving profitability
and solid market position as a leading non-standard personal auto
insurer. In addition, Moody’s has affirmed the Baa3 senior debt
rating of Kemper as well as the A3 insurance financial strength
ratings of its leading property/casualty and life insurance
subsidiaries.
Moody’s said its positive outlook reflects Kemper’s improved
profitability with an average return on capital of about 8.5% in
the past three years. Its rating affirmation reflects Kemper’s
diversified revenues and earnings from its non-standard personal
auto insurance and life businesses, its profitable home service
insurance business, solid risk adjusted subsidiary capitalization,
and a high-quality fixed income portfolio.
“We are pleased that Moody’s recognizes the strength of our
businesses,” said Joseph P. Lacher, Jr., President, CEO and
Chairman of the Board. “The revised rating outlook is recognition
of our strong operating performance and the work we’ve done to
advance our strategic intent to serve growing niche and underserved
markets with appropriate and affordable insurance and financial
solutions.”
About Kemper
The Kemper family of companies is one of the nation’s leading
specialized insurers. With $14.2 billion in assets, Kemper is
improving the world of insurance by providing affordable and
easy-to-use personalized solutions to individuals, families and
businesses through its Auto, Personal Insurance, Life and Health
brands. Kemper serves over 6.3 million policies, is represented by
more than 30,000 agents and brokers, and has nearly 10,000
associates dedicated to meeting the ever-changing needs of its
customers.
Learn more about Kemper.
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version on businesswire.com: https://www.businesswire.com/news/home/20210604005147/en/
Investors: Michael Marinaccio, 312.661.4930,
mmarinaccio@kemper.com News Media: Barbara Ciesemier, 312.661.4521,
bciesemier@kemper.com
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