CHICAGO--(BUSINESS WIRE)--
Kemper Corporation (NYSE: KMPR)
announced today that before the markets open on Monday, February 11,
2019, Kemper will issue its fourth quarter 2018 earnings release and
financial supplement. The company expects to file its annual report on
Form 10-K with the Securities and Exchange Commission (the “SEC”) on or
about February 14, 2019. Following their publication, these documents
will be available on the investor section of kemper.com.
Kemper will host its conference call to discuss fourth quarter 2018 and
full year results on Monday, February 11, 2019, at 4:15 p.m. Eastern
(3:15 p.m. Central). The conference call will be accessible via the
internet and by telephone at 844.826.3041.To listen via
webcast, register online at the investor section of kemper.com
at least 15 minutes prior to the webcast to install any necessary
software.
A replay of the webcast will be available online at the investor section
of kemper.com.
Kemper also announced today that on Friday, December 28, 2018, Kemper
repaid $215 million of the $250 million term loan due June 29, 2020. The
term loan was drawn on June 29, 2018 to facilitate the funding of the
acquisition of Infinity Property and Casualty Corporation.
“Kemper’s substantial repayment of the term loan reflects the company’s
continued strong cash flow and liquidity position following the Infinity
acquisition,” said James J. McKinney, Kemper’s Senior Vice President and
Chief Financial Officer.
Kemper estimates that its fourth quarter 2018 results will include
pre-tax catastrophe losses, including the impacts of the California
wildfires, ranging from $25 million to $30 million, net of reinsurance.
The company anticipates $30 million to $35 million of reinsurance
recoveries, largely from its 2018 catastrophe aggregate reinsurance
program. 2018 was the first year Kemper entered into a catastrophe
aggregate reinsurance program to mitigate capital and earnings
volatility associated with high-frequency, low-severity catastrophe
events.
About Kemper
The Kemper family of companies is one of the nation’s leading insurers.
With $11 billion in assets, Kemper is improving the world of insurance
by offering personalized solutions for individuals, families and
businesses. Through our businesses, Kemper:
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Offers insurance for auto, home, life, health and valuables
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Services approximately seven million policies
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Is represented by more than 30,000 agents and brokers
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Employs over 7,800 associates dedicated to providing exceptional
service
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Is licensed to sell insurance in 50 states and the District of Columbia
Learn more about Kemper.
Caution Regarding Forward-Looking Statements
This press release 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 that they relate to future actions, performance or results rather
than strictly to historical or current facts.
Any or all forward-looking statements may turn out to be wrong, and,
accordingly, readers are cautioned not to place undue reliance on such
statements, which speak only as of the date of this press release.
Forward-looking statements involve a number of risks and uncertainties
that are difficult to predict, and are not guarantees of future
performance. Among the general factors that could cause actual results
and financial condition to differ materially from estimated results and
financial condition are those listed in periodic reports filed by Kemper
with the SEC. No assurances can be given that the results and financial
condition contemplated in any forward-looking statements will be
achieved or will be achieved in any particular timetable. Kemper assumes
no obligation to publicly correct or update any forward-looking
statements as a result of events or developments subsequent to the date
of this press release. The reader is advised, however, to consult any
further disclosures Kemper makes on related subjects in its filings with
the SEC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190114005270/en/
Investors:
Michael Marinaccio
312.661.4930
investors@kemper.com
or
News
Media:
Barbara Ciesemier
312.661.4521
bciesemier@kemper.com
Source: Kemper Corporation