AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

AM Best Revises Outlooks to Positive; Affirms Credit Ratings of Kemper Corporation, Its Affiliates and Subsidiaries

January 23, 2020 GMT

OLDWICK, N.J.--(BUSINESS WIRE)--Jan 23, 2020--

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of the property/casualty subsidiaries and affiliated insurance companies of Kemper Corporation (Kemper Corp.) [NYSE: KMPR] , collectively referred to as Kemper Property & Casualty Group (Kemper P&C). AM Best also has revised the outlooks to positive from stable and affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” of Kemper Corp.’s life/health subsidiaries, collectively referred to as Kemper Life & Health Group (Kemper L&H). Concurrently, AM Best has revised the outlooks to positive from stable and affirmed the Long-Term ICR of “bbb-” and the Long-Term Issue Credit Ratings (Long-Term IR) of Kemper Corp., the ultimate parent , headquartered in Chicago, IL. (See below for a detailed listing of the companies and Credit Ratings [ratings].) AM Best also has revised the outlooks to positive from stable and affirmed the Long-Term ICR and the Long-Term IR of “bbb-” of Infinity Property and Casualty Corporation (Infinity) (headquartered in Birmingham, AL). See below for a detailed listing of all companies and ratings.

The Kemper P&C ratings reflect its balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). Kemper P&C’s rating affirmations are attributable to its strongest level of risk-adjusted capitalization, favorable operating results and established position in the nonstandard auto market.

The Kemper L&H ratings reflect its balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate ERM. Kemper L&H’s ratings reflect its risk-adjusted capitalization, which is at the strongest level, favorable capital-to-liability ratio, and a steady, meaningful and diverse source of earnings to Kemper Corp. Kemper L&H offers a broad array of products including basic life insurance, final expense, limited accident and health benefits and other supplemental products. The revision in outlooks to positive for Kemper L&H follows the revision in outlook for Kemper Corp.

The positive outlooks reflect AM Best’s expectation that the integration of Infinity will continue to enhance the financial strength of the organization and strengthen its position in the marketplace as one of the leading nonstandard auto writers in the United States. AM Best further expects consolidated risk-adjusted capitalization to remain supportive for all ratings.

The outlooks have been revised to positive from stable and the FSR of A- (Excellent) and the Long-Term ICRs of “a-”affirmed for the members of the Kemper Property & Casualty Group:

The outlooks have been revised to positive from stable and the FSR of A- (Excellent) and the Long-Term ICRs of “a-” affirmed for the members of Kemper Life & Health Group:

The outlook has been revised to positive from stable and the following Long-Term IR has been affirmed:

Kemper Corporation—
-- “bbb-” on $450 million 4.35% senior unsecured notes, due 2025

The outlooks have been revised to positive from stable and the following indicative Long-Term IRs have been affirmed for the shelf registration:

Kemper Corporation—
-- “bbb-” on senior unsecured debt
-- “bb+” on subordinated debt
-- “bb” on preferred stock

The outlook has been revised to positive from stable and the following Long-Term IR has been affirmed:

Infinity Property and Casualty Corporation—
-- “bbb-” on $275 million 5% senior unsecured notes, due September 2022

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200123005796/en/

CONTACT: Jeffrey Stary

Financial Analyst— P/C

+1 908 439 2200, ext. 5689

jeffrey.stary@ambest.comBruno Caron, FSA, MAAA

Senior Financial Analyst— L/H

+1 908 439 2200, ext. 5144

bruno.caron@ambest.comChristopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.comJim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

KEYWORD: EUROPE UNITED STATES NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES INSURANCE FINANCE

SOURCE: AM Best

Copyright Business Wire 2020.

PUB: 01/23/2020 03:27 PM/DISC: 01/23/2020 03:27 PM

http://www.businesswire.com/news/home/20200123005796/en