Kemper Announces Schedule for Third Quarter 2018 Earnings Call; Estimates Third Quarter 2018 Catastrophe
Losses and Other Significant Items
Kemper Corporation (NYSE: KMPR) announced today that before the markets open
on Monday, November 5, 2018, Kemper will issue its third quarter 2018 earnings release and financial supplement and will also file
its quarterly report on Form 10-Q with the Securities and Exchange Commission (the “SEC”). Following their publication, these
documents will be available on the investor section of kemper.com.
Kemper will host its conference call to discuss third quarter 2018 results on Monday, November 5, 2018, 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 it anticipates its third quarter 2018 results will include the following items, several of
which are one-time in nature:
- A tax benefit of $20 million to $30 million as a result of an updated analysis of certain provisional
amounts recorded for the effect of the Tax Cuts and Jobs Act on Kemper’s deferred income tax assets and liabilities;
- Pre-tax catastrophe losses of $20 million to $25 million, mainly related to one wildfire and
Hurricane Florence. The company does not expect to recover any of the losses under its reinsurance programs;
- Transaction and integration expenses of $15 million to $20 million pre-tax in connection with the
acquisition of Infinity Property and Casualty Corporation on July 2, 2018. Kemper’s results for the third quarter will include
Infinity’s results from the date of acquisition and forward; and
- Pre-tax charge of approximately $9 million for lease termination and other costs associated with the
September 2018 relocation of Kemper’s corporate headquarters to the Aon Center in Chicago.
Previously, Kemper announced third quarter 2018 results will also include a pre-tax gain of $35.7 million related to the partial
satisfaction of a judgment in its favor and against Computer Sciences Corporation and its parent, DXC Technology Company.
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:
- Offers insurance for auto, home, life, health and valuables
- Services approximately seven million policies
- Is represented by more than 30,000 agents and brokers
- Employs over 7,800 associates dedicated to providing exceptional service
- 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.
Kemper Corporation
Investors:
Michael Marinaccio
312.661.4930
investors@kemper.com
or
News Media:
Barbara Ciesemier
312.661.4521
bciesemier@kemper.com
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