Kemper Corporation (NYSE: KMPR) announced today that Standard & Poor’s (S&P) has upgraded the company’s holding company issuer credit rating to ‘BBB’ from ‘BBB-‘ and the issuer credit and financial strength ratings of its P&C subsidiaries to ‘A’ from ‘A-‘, maintaining a stable outlook.
S&P cited Kemper’s expanded and improved non-standard auto business, including underwriting performance, reduced potential for earnings volatility from catastrophes, and the successful acquisition and integration of Infinity Property and Casualty Corporation, as well as its strong capital base and stable earnings contribution from its life business as reasons for the upgrades.
“Achieving this recognition from S&P for our sustained improvement in performance is encouraging,” said Joseph P. Lacher, Jr., president and CEO. “This upgrade reflects our ongoing work to strengthen our operating model, balance sheet, and underlying market fundamentals, and is a testament to our discipline and commitment to profitable growth.”
About Kemper
Kemper Corporation (NYSE: KMPR) is one of the nation’s leading specialized insurers. With over $12 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 6.4 million policies, is represented by more than 30,000 agents and brokers, and has 8,900 associates dedicated to meeting the ever-changing needs of its customers.
Learn more about Kemper.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200218006061/en/
Contacts:
News Media: Barbara Ciesemier, 312.661.4521, bciesemier@kemper.com
