Moody's upgrades Kemper's outlook to positive
CHICAGO -- Kemper Corp. Friday said Moody's Investors Service has revised its rating outlook for Kemper to positive from stable, based on the group's improving profitability and solid market position as a leading nonstandard personal auto insurer.
Moody's said its positive outlook reflects Kemper's improved profitability with an average return on capital of about 8.5% in the past three years. Its rating affirmation reflects Kemper's diversified revenues and earnings from its auto insurance and life insurance businesses, its profitable home service insurance business, solid risk adjusted subsidiary capitalization, and a high-quality fixed income portfolio.
"We are pleased that Moody's recognizes the strength of our businesses," said Joseph P. Lacher Jr., president, CEO and chairman of the board. "The revised rating outlook is recognition of our strong operating performance and the work we've done to advance our strategic intent to serve growing niche and underserved markets with appropriate and affordable insurance and financial solutions."