Kemper Q2 revenue misses estimates on lower personal auto volumes
KMPR•Segment drivers
- Personal auto claims: Kemper attributed the drop in Specialty Property & Casualty Insurance segment income to higher claim severity and frequency in its California personal auto business.
- Life insurance earnings: Improved Life Insurance segment income was driven by higher net investment income and earned premiums.
- Commercial auto volumes: Higher Specialty Commercial Automobile volumes and net investment income partially offset the revenue decline, the company said.
Key quarterly figures
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $1.09 billion | $1.12 billion |
| Q2 Loss Per Share | $7.90 | ||
| Q2 Net Loss | $464.80 million | ||
| Q2 Adjusted Consolidated Net Operating Income | $26.30 million |
Q2 revenue misses on lower personal auto volumes
U.S. specialized insurer Kemper said its second-quarter revenue declined and missed analyst expectations, as lower personal auto volumes weighed on results.
The company posted a net loss of $464.8 million, compared with a profit a year earlier, hurt by a $460 million non-cash goodwill impairment.
