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 03/31/2021 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 (Exact n ...

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, 2020 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 ...

| --- | --- | --- | |------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fourth Quarter | | | | 2020 Earnings | | | | February 1, 2021 | | | | | | | | | | | | | | | Earnings Call Presentation – 4Q 2020 Preliminary Matters Cautionary Statements Regarding Forward-Looking Information This presentation may contain or incorporate by reference information that includes or is based on forward-looking statements within the meaning of the safe-harbor provisions of the Privat ...

Kemper Corporation (NYSE:KMPR) Q4 2020 Earnings Conference Call February 1, 2021 5:00 PM ET Company Participants Christine Patrick - Vice President, Investor Relations Joe Lacher - President and Chief Executive Officer Jim McKinney - Executive Vice President and Chief Financial Officer Duane Sanders - Executive Vice President and Property and Casualty Division President John Boschelli - Executive Vice President and Chief Investment Officer Erich Sternberg - Executive Vice President and Life and Health Divis ...

Third Quarter 2020 Earnings November 2, 2020 KEMPER Earnings Call Presentation – 3Q 2020 Preliminary Matters Cautionary Statements Regarding Forward-Looking Information This presentation may contain or incorporate by reference information that includes or is based on forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events and can be identified by the fact th ...

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 Quarterly Period Ended 09/30/2020 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 (Exact name ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________________ 200 E. Randolph Street Suite 3300 ☐ 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 FORM 10-Q ______________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For Quarterly Period Ended June 30, 20 ...

[PART I. FINANCIAL INFORMATION](index=7&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=7&type=section&id=Item%201.%20Financial%20Statements) This section presents Kemper Corporation's unaudited condensed consolidated financial statements for Q1 2020 and 2019, along with detailed notes on accounting policies and financial line items [Condensed Consolidated Statements of Income](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Net income significantly decreased to $64.0 million in Q1 2020 from $155.3 million in Q1 2019, primarily due to a $117.8 million loss from fair value changes in equity and convertible securities Condensed Consolidated Statements of Income (Q1 2020 vs Q1 2019) | Financial Metric | Three Months Ended Mar 31, 2020 (in millions) | Three Months Ended Mar 31, 2019 (in millions) | | :--- | :--- | :--- | | **Total Revenues** | **$1,229.0** | **$1,236.3** | | Earned Premiums | $1,166.4 | $1,074.8 | | Net Investment Income | $85.6 | $82.7 | | Income (Loss) from Change in Fair Value of Equity and Convertible Securities | $(117.8) | $64.4 | | **Total Expenses** | **$1,151.3** | **$1,041.6** | | Policyholders' Benefits and Incurred Losses and LAE | $835.2 | $765.4 | | Insurance Expenses | $271.6 | $234.8 | | **Net Income** | **$64.0** | **$155.3** | | **Diluted Net Income Per Unrestricted Share** | **$0.95** | **$2.35** | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29) Total comprehensive loss was $97.2 million in Q1 2020, a reversal from $284.4 million income in Q1 2019, driven by $161.2 million in other comprehensive losses from unrealized investment losses Condensed Consolidated Statements of Comprehensive Income (Loss) (Q1 2020 vs Q1 2019) | Metric | Three Months Ended Mar 31, 2020 (in millions) | Three Months Ended Mar 31, 2019 (in millions) | | :--- | :--- | :--- | | Net Income | $64.0 | $155.3 | | Other Comprehensive Income (Loss) | $(161.2) | $129.1 | | **Total Comprehensive Income (Loss)** | **$(97.2)** | **$284.4** | [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets slightly decreased to $12,932.3 million as of March 31, 2020, while total liabilities increased and shareholders' equity decreased, reflecting the comprehensive loss Condensed Consolidated Balance Sheets (As of Mar 31, 2020 vs Dec 31, 2019) | Balance Sheet Item | March 31, 2020 (in millions) | December 31, 2019 (in millions) | | :--- | :--- | :--- | | Total Investments | $8,939.1 | $9,261.4 | | **Total Assets** | **$12,932.3** | **$12,989.1** | | Total Insurance Reserves | $5,442.4 | $5,471.8 | | Long-term Debt | $778.1 | $778.4 | | **Total Liabilities** | **$9,171.5** | **$9,016.8** | | **Total Shareholders' Equity** | **$3,760.8** | **$3,972.3** | | **Total Liabilities and Shareholders' Equity** | **$12,932.3** | **$12,989.1** | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities decreased to $62.3 million in Q1 2020, while investing activities provided $94.0 million, a reversal from prior year, and financing activities significantly decreased due to share repurchases Condensed Consolidated Statements of Cash Flows (Q1 2020 vs Q1 2019) | Cash Flow Activity | Three Months Ended Mar 31, 2020 (in millions) | Three Months Ended Mar 31, 2019 (in millions) | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $62.3 | $89.0 | | Net Cash Provided (Used) by Investing Activities | $94.0 | $(219.7) | | Net Cash Provided by Financing Activities | $8.2 | $162.6 | | **Increase in Cash** | **$164.5** | **$31.9** | [Notes to the Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) These notes detail financial statement presentation, accounting policies, investment portfolio, insurance reserves, debt, segment performance, and key disclosures including COVID-19 impact and a legal settlement gain - The company adopted ASU 2016-13 (Financial Instruments—Credit Losses) effective January 1, 2020, replacing the incurred loss model with an expected credit loss model, resulting in **no cumulative-effect adjustment to retained earnings**[34](index=34&type=chunk) - In February 2020, the company received **$89.4 million** from a legal judgment against DXC Technology Company, recognized in Other Income[142](index=142&type=chunk) - In response to the COVID-19 pandemic, the company announced approximately **$100 million** in personal auto premium credits for April and May 2020[145](index=145&type=chunk) - On May 6, 2020, the Board authorized an additional **$200 million** for the common stock repurchase program, bringing the total remaining authorization to approximately **$333 million**[146](index=146&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=41&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2020 financial results, noting decreased net income due to investment losses but increased adjusted net operating income from a legal settlement, alongside segment performance, investment results, liquidity, and capital resources - Net Income for Q1 2020 was **$64.0 million**, a decrease from **$155.3 million** in Q1 2019, primarily due to lower investment results, including a **$144.0 million** after-tax decrease from fair value changes in equity and convertible securities[147](index=147&type=chunk)[152](index=152&type=chunk) - Adjusted Consolidated Net Operating Income increased by **$64.0 million** to **$162.9 million** in Q1 2020, driven by a **$70.6 million** after-tax gain from a judgment against CSC and improved Preferred P&C performance[151](index=151&type=chunk)[152](index=152&type=chunk) - The COVID-19 pandemic began impacting results in March 2020, contributing to **$4.2 million** in net pre-tax insurance expenses and significant net realized investment losses[148](index=148&type=chunk) [Specialty Property & Casualty Insurance](index=46&type=section&id=Specialty%20Property%20%26%20Casualty%20Insurance) Specialty P&C net operating income decreased to $60.1 million in Q1 2020 due to higher incurred losses and adverse reserve development, despite earned premium growth, leading to a deteriorated combined ratio Specialty P&C Segment Performance (Q1 2020 vs Q1 2019) | Metric | Q1 2020 | Q1 2019 | | :--- | :--- | :--- | | Earned Premiums | $822.5M | $729.3M | | Segment Net Operating Income | $60.1M | $79.6M | | Combined Ratio | 94.5% | 89.3% | | Underlying Combined Ratio | 93.9% | 91.7% | - The segment experienced **adverse prior year loss and LAE reserve development of $5.5 million** in Q1 2020, compared to **favorable development of $18.1 million** in Q1 2019, significantly impacting profitability[171](index=171&type=chunk) - Specialty personal automobile insurance saw **adverse reserve development of $18.0 million**, while commercial automobile insurance had **favorable development of $12.5 million**[71](index=71&type=chunk) [Preferred Property & Casualty Insurance](index=49&type=section&id=Preferred%20Property%20%26%20Casualty%20Insurance) Preferred P&C net operating income significantly improved to $18.4 million in Q1 2020, driven by a sharp reduction in catastrophe losses, resulting in an improved combined ratio Preferred P&C Segment Performance (Q1 2020 vs Q1 2019) | Metric | Q1 2020 | Q1 2019 | | :--- | :--- | :--- | | Earned Premiums | $180.9M | $185.6M | | Segment Net Operating Income | $18.4M | $2.8M | | Combined Ratio | 92.6% | 102.7% | | Underlying Combined Ratio | 92.3% | 96.0% | - Catastrophe losses decreased significantly to **$4.8 million** from **$16.6 million** in Q1 2019, driving profitability improvement[190](index=190&type=chunk) [Life & Health Insurance](index=54&type=section&id=Life%20%26%20Health%20Insurance) Life & Health net operating income remained stable at $22.3 million in Q1 2020, with decreased policyholder benefits offset by increased insurance expenses due to COVID-19 related accruals Life & Health Segment Performance (Q1 2020 vs Q1 2019) | Metric | Q1 2020 | Q1 2019 | | :--- | :--- | :--- | | Earned Premiums | $163.0M | $159.9M | | Segment Net Operating Income | $22.3M | $23.1M | | Policyholders' Benefits and Incurred Losses | $100.7M | $105.4M | - Policyholders' Benefits and Incurred Losses and LAE decreased by **$4.7 million**, primarily due to a **$4.5 million** reduction of the initial reserve associated with the death verification database[207](index=207&type=chunk) - Insurance expenses increased by **$8.9 million**, partly due to an accrual for distribution expenses anticipated from COVID-19 disruption and investments to modernize the distribution channel[207](index=207&type=chunk)[208](index=208&type=chunk) [Investment Results](index=58&type=section&id=Investment%20Results) Investment results were significantly impacted by Q1 2020 market volatility, leading to a $117.8 million pre-tax loss from fair value changes in equity and convertible securities, despite a slight increase in net investment income Total Comprehensive Investment Gains (Losses) (Q1 2020 vs Q1 2019) | Component (in millions) | Q1 2020 | Q1 2019 | | :--- | :--- | :--- | | Income (Loss) from Change in Fair Value of Equity and Convertible Securities | $(117.8) | $64.4 | | Net Realized Gains on Sales of Investments | $16.5 | $16.1 | | Impairment Losses | $(12.0) | $(3.6) | | **Net Gains (Losses) Recognized in Net Income** | **$(113.3)** | **$76.9** | | Recognized in Other Comprehensive Income (Loss) | $(204.8) | $162.8 | | **Total Comprehensive Investment Gains (Losses)** | **$(318.1)** | **$239.7** | - At March 31, 2020, **94%** of the company's fixed maturity investment portfolio was rated investment-grade (NAIC 1 or 2)[225](index=225&type=chunk) [Liquidity and Capital Resources](index=65&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2020, Kemper maintained $199.1 million in holding company cash and investments, with no outstanding credit facility borrowings, while repurchasing $101.2 million in shares and receiving $135 million in subsidiary dividends - The company had a **$400.0 million** credit facility with **no outstanding borrowings** as of March 31, 2020[242](index=242&type=chunk) - During Q1 2020, Kemper repurchased **1.5 million shares** of its common stock for an aggregate cost of **$101.2 million**[249](index=249&type=chunk) - Kemper's direct insurance subsidiaries paid **$135 million** in dividends to the parent company in Q1 2020 and could pay an additional **$308.1 million** in 2020 without prior regulatory approval[252](index=252&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=69&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) There have been no material changes to the company's market risk disclosures since its 2019 Annual Report on Form 10-K - There have been **no material changes** to the Company's disclosures about market risk from the 2019 Annual Report[264](index=264&type=chunk) [Item 4. Controls and Procedures](index=69&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of March 31, 2020, following the implementation of a new ERP solution that resulted in validated changes to internal controls over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of the end of the period[265](index=265&type=chunk) - During Q1 2020, the company implemented a new enterprise resource planning (ERP) solution, including a new general ledger and consolidation process, resulting in changes to related internal controls[265](index=265&type=chunk) [PART II. OTHER INFORMATION](index=70&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=70&type=section&id=Item%201.%20Legal%20Proceedings) Information regarding legal proceedings is incorporated by reference from Note 14, "Contingencies," within the financial statements section of this report - Information regarding legal proceedings is detailed in Note 14, "Contingencies," of the Condensed Consolidated Financial Statements[269](index=269&type=chunk) [Item 1A. Risk Factors](index=70&type=section&id=Item%201A.%20Risk%20Factors) A new significant risk factor addresses the material impact of the COVID-19 pandemic on operations, financial position, and liquidity, including decreased premiums, investment portfolio impacts, and increased claims - A new risk factor was added to address the potential **material adverse effects of the COVID-19 pandemic** on the company's business[271](index=271&type=chunk) - Specific risks from COVID-19 include: decreased premium volumes, adverse investment portfolio impact, higher Life & Health claims, new regulatory requirements, business disruptions, and heightened cybersecurity risks[273](index=273&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=71&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2020, Kemper repurchased 1,488,668 shares of common stock for $101.2 million, with $142.5 million remaining under the share repurchase authorization Issuer Purchases of Equity Securities (Q1 2020) | Period | Total Number of Shares Purchased | Average Price Paid per Share | Remaining Authorization (in millions) | | :--- | :--- | :--- | :--- | | January 2020 | — | — | $243.7 | | February 2020 | — | — | $243.7 | | March 2020 | 1,488,668 | $67.98 | $142.5 | [Item 6. Exhibits](index=72&type=section&id=Item%206.%20Exhibits) This section indexes exhibits filed with Form 10-Q, including CEO and CFO certifications and XBRL interactive data files - Filed exhibits include CEO and CFO certifications pursuant to SEC Rules 13a-14(a) and 18 U.S.C. Section 1350 (Sarbanes-Oxley Act of 2002)[281](index=281&type=chunk) - XBRL Instance Document and related taxonomy files were also filed as exhibits[281](index=281&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K Commission file number: 001-18298 Kemper Corporation ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) DE 95-4255452 (I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation ...

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 Quarterly Period Ended September 30, 2019 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 (Exa ...