AM Best Affirms Ratings of Kemper Corporation and Affiliates, Withdraws Rating of Infinity Preferred Insurance Company.

AM Best affirms the financial strength rating of A- (Excellent) and long-term issuer credit ratings of "a-" (Excellent) for Kemper Corporation's property/casualty subsidiaries and affiliates. The company's balance sheet strength is assessed as very strong, while its operating performance is marginal and business profile is neutral. The outlook for the credit ratings is stable.

Title: AM Best Affirms Kemper Corporation's Financial Strength Rating

AM Best has reaffirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a-" (Excellent) for Kemper Corporation's property/casualty subsidiaries and affiliates. The ratings reflect the company's strong balance sheet and stable outlook.

Kemper Corporation, a diversified insurance holding company, operates through three segments: Specialty Property & Casualty Insurance, Preferred Property & Casualty Insurance, and Life & Health Insurance. The company's property/casualty subsidiaries, collectively known as Kemper Property & Casualty Group (Kemper P&C), have shown significant improvement in their financial performance, returning to generating underwriting gains and strengthening surplus levels.

AM Best assessed Kemper P&C's balance sheet strength as very strong, supported by excellent financial flexibility and generally favorable reserve development trends. Despite volatility in results between 2021 and 2023, Kemper has demonstrated a strong recovery in 2024 and 2025. The company's operating performance is considered marginal, and its business profile is neutral, but these factors do not detract from its overall financial stability.

The ratings also reflect Kemper's life subsidiaries, collectively known as Kemper Life Group (Kemper Life), which maintain an FSR of A- (Excellent) and Long-Term ICRs of "a-" (Excellent). The outlook for these ratings is stable, indicating that AM Best expects Kemper's financial health to remain robust in the coming years.

Additionally, AM Best withdrew the FSR of A- (Excellent) and the Long-Term ICR of "a-" (Excellent) of Infinity Preferred Insurance Company, which was previously a subsidiary of Kemper and was sold as a clean shell with no remaining policyholder liabilities on August 1, 2025.

The ratings reflect the company's strong balance sheet, which is supported by excellent financial flexibility and generally favorable reserve development trends. Kemper's financial performance has shown significant improvement in recent years, with the company returning to generating underwriting gains and strengthening surplus levels.

The outlook for Kemper's credit ratings is stable, indicating that AM Best expects the company's financial health to remain robust in the coming years.

References:
1. [1] https://www.marketbeat.com/instant-alerts/filing-kemper-corporation-nysekmpr-shares-purchased-by-connor-clark-lunn-investment-management-ltd-2025-08-14/
2. [2] https://news.ambest.com/pr/PressContent.aspx?altsrc=2&refnum=36353