Strong Fourth Quarter and Year-End Financial Performance
Kemper delivered net income of $318 million for the year and $97 million for the fourth quarter, with a strong return on equity of 12% and return on adjusted equity of just over 18%.
Specialty Auto Business Growth
The specialty auto business achieved a combined ratio of 91.5% and PIF growth of over 5% year-over-year, with expectations of robust growth trends continuing into 2025.
Balance Sheet Strengthening
Kemper repurchased $14 million of shares, increased the quarterly dividend, and plans to retire $450 million of debt. This will bring the debt to capital ratio back into the low 20s.
Life Segment Stability
The Life segment produced strong return on capital and distributable cash flows, with adjusted net operating income of $24 million in Q4, an increase of $9 million from the previous quarter.