Kemper reports income boost in 2019
US insurer Kemper has reported a significant hike in income for 2019, a modest increase in net premiums written and a slightly increased combined ratio.
Net income for 2019 was $531.1 million, compared to $190.1 million for 2018. Net premiums written for the specialty property & casualty insurance category were $3.2 billion, up from £2 billion in 2018. For the preferred property & casualty insurance segment, premiums written were $739 million, a decrease from 2018’s figure of $749 million. The underlying combined ratio was 95.3 percent for 2019, up from 93.8 percent for 2020.
Commenting on the Q4 results, Joseph Lacher, Jr., president and CEO, said:
“This quarter was highlighted by continued strength of earnings, strong underlying profitability, and industry-leading growth in our specialty auto segment. In addition, our recent dividend increase and ratings agency recognitions are further evidence of the strength and performance of our business model and balance sheet.”
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
Argo Group predicts 'unacceptable' Q4 operating loss of $114m
Zurich exceeds targets with strong 2019 results driven by P&C book
Lancashire’s bullish 2019 results is evidence of ‘harder cycle’
Coronavirus affecting China's economy, earnings - AM Best analysts
Prudential's Eastspring completes Thanachart Fund acquisition
Trisura combined ratio holds steady; income falls
SkyWatch.AI and Starr launch drone insurance product in Canada
