Kemper(US:KMPR)2025-02-05 21:09Financial Performance - Earned premiums for Q4 2024 were $1,081.8 million, a slight increase from $1,063.8 million in Q4 2023[8] - Total revenues for Q4 2024 reached $1,186.8 million, compared to $1,187.2 million in Q4 2023, indicating a marginal decline[8] - Net income attributable to Kemper Corporation for Q4 2024 was $97.4 million, up from $73.7 million in Q4 2023, representing a 32.5% increase[8] - Adjusted consolidated net operating income for Q4 2024 was $115.1 million, compared to $105.0 million in Q4 2023, reflecting a 9.5% growth[8] - Return on shareholders' equity for Q4 2024 was 14.0%, an increase from 10.8% in Q4 2023[8] - The company declared dividends of $0.31 per share for Q4 2024, consistent with the previous quarter and year[8] - The total net investment income for Q4 2024 was $103.0 million, slightly down from $104.6 million in Q4 2023[8] - Adjusted net operating income per share for Q4 2024 was $1.81, compared to $1.63 in Q4 2023, marking an increase of 11.0%[8] - The company reported a total of $4,215.9 million in earned premiums for the year ended December 31, 2024, down from $4,529.4 million in 2023[8] - Total revenues for the year ended December 31, 2024, reached $4,638.6 million, compared to $4,944.2 million for the previous year[13] - Net income attributable to Kemper Corporation for the year ended December 31, 2024, was $312.5 million, compared to a net loss of $272.3 million in 2023[18] Assets and Liabilities - Total assets as of December 31, 2024, are $12,630.4 million, a decrease of 1.9% from $12,742.7 million in December 31, 2023[11] - The total liabilities of Kemper Corporation were $9,846.1 million as of December 31, 2024, a decrease from $10,102.6 million at September 30, 2024, indicating a reduction of about 2.5%[16] - Insurance reserves decreased to $5,811.6 million from $6,102.9 million year-over-year, reflecting a decline of 4.8%[11] - Shareholders' equity increased to $2,788.4 million, up 11.3% from $2,505.2 million in December 31, 2023[11] - Debt remained stable at $1,391.6 million, showing minimal change compared to $1,389.2 million in December 31, 2023[11] - Debt to total capitalization ratio is at 33.3%, slightly down from 35.7% in the previous year[11] Investment Performance - The company reported a net realized investment gain of $19.7 million for the three months ended September 30, 2024, compared to a loss of $30.3 million in the previous quarter[13] - The company experienced a net realized investment loss of $13.2 million for the year ended December 31, 2024, compared to a gain of $18.6 million in 2023[18] - Total investment income for the year ended December 31, 2024, was $447.1 million, compared to $419.7 million for the year ended December 31, 2023, a growth of 6.5%[50] - The company reported a net realized investment gain of $4.0 million in Q4 2024, compared to a loss of $30.3 million in Q4 2023[50] Segment Performance - Total Specialty Property & Casualty Insurance Revenues for Q4 2024 reached $1,006.2 million, an increase from $909.8 million in Q4 2023, representing a growth of 10.6% year-over-year[26] - Personal Automobile earned premiums for Q4 2024 were $753.3 million, up from $699.3 million in Q4 2023, reflecting a growth of 7.7%[26] - Commercial Automobile earned premiums increased to $201.5 million in Q4 2024, compared to $166.3 million in Q4 2023, marking a significant rise of 21.2%[26] - Life Insurance total revenues for Q4 2024 amounted to $141.1 million, up from $131.4 million in Q4 2023, showing an increase of 7.0%[26] - Specialty Property & Casualty Insurance segment reported adjusted operating income of $126.7 million for Q4 2024, up from $56.6 million in Q4 2023, representing a significant increase of 124% year-over-year[28] - Life Insurance segment achieved adjusted operating income of $28.4 million in Q4 2024, compared to $19.9 million in Q4 2023, reflecting a growth of 42%[28] Operational Efficiency - The combined ratio for the quarter improved to 90.8%, down from 99.5% in the same quarter of the previous year, indicating better operational efficiency[41] - The underlying combined ratio was 91.7%, reflecting a slight improvement from 91.3% in the previous quarter[36] - The insurance expense ratio for the current year was 21.7%, slightly up from 21.2% in the previous quarter[36] Catastrophe and Loss Events - The company reported a total of 6 catastrophe events in Q4 2024 with incurred losses of $1.9 million, compared to 6 events and $2.5 million in losses in Q4 2023[30] - The number of non-core operations events decreased from 7 in Q4 2023 to 6 in Q4 2024, with total losses of $5.4 million in Q4 2024[30] - The total losses and LAE for the Non-Core Operations segment in 2024 were $65.3 million, an increase from $96.7 million in 2023[33] Shareholder Metrics - Average shareholders' equity increased to $2,780.9 million in Q4 2024 from $2,722.3 million in Q3 2024, representing a 2.1% growth[70] - Adjusted shareholders' equity for Q4 2024 was $1,819.7 million, compared to $1,767.0 million in Q3 2024, marking a 3.0% increase[70] - The adjusted book value per share rose to $29.04 in Q4 2024 from $27.88 in Q3 2024, reflecting a 4.2% increase[75] Future Outlook - The company expects continued growth in earned premiums and net investment income for the upcoming quarters[36]