Kemper reports Q3 net loss of $146.3M ($2.28/share); adjusted loss $27.9M

KEMPER Corp

2023-Q3 EPS reported -$5.05 revenue$3,757,000,000

Net loss of $146.3M ($2.28 per diluted share) vs net loss of $74.8M ($1.17) in Q3 2022.
Adjusted net operating loss $27.9M ($0.44/share) vs $27.0M ($0.43) prior year, roughly flat.
Includes $55.5M after-tax non-cash charge for pension plan termination and $22.9M after-tax net realized losses.
Specialty Auto underlying combined ratio improved 1.5 points sequentially; unfavorable prior-year reserve development from Florida PIP.
Implementation of 30 points of CA specialty auto rate; strategic initiatives on track; Life trends stable.

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