The company's capital base has contracted, with equity declining from $3.0B in 2025Q2 to $2.6B in 2026Q1, signaling increased strain on the firm's statutory capital buffer.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Total Assets | 0 | 12.47B | 12.63B | 12.74B | 13.36B | 14.92B | 14.34B | 12.99B | 11.54B | 8.38B | 8.21B | 8.04B | 7.83B | 7.66B | 8.01B | 8.09B | 8.36B | 8.57B | 8.82B | 9.4B | 9.32B | 9.2B | 8.79B | 8.54B | 7.71B | 7.13B | 6.16B | 5.93B | 5.91B | 4.92B | 4.87B |
| Asset Growth % | -104.13% | -1.25% | -0.88% | -4.65% | -10.41% | 4.01% | 10.41% | 12.51% | 37.83% | 2.02% | 2.17% | 2.59% | 2.31% | -4.4% | -0.95% | -3.26% | -2.51% | -2.78% | -6.23% | 0.9% | 1.34% | 4.64% | 2.97% | 10.79% | 8.02% | 15.72% | 3.88% | 0.42% | 20.1% | 1.02% | 1.09% |
| Total Investment Assets | 3M | 8.73B | 8.92B | 8.91B | 8.79B | 10.39B | 10.42B | 9.26B | 8.07B | 6.8B | 6.61B | 6.43B | 6.44B | 6.15B | 6.46B | 5.97B | 6.16B | 5.55B | 5.45B | 6.16B | 6.83B | 6.82B | 6.55B | 6.32B | 5.8B | 4.82B | 3.1B | 3.16B | 3.34B | 2.56B | 2.47B |
| Long-Term Investments | 24.94B | 8.4B | 7.9B | 7.87B | 7.63B | 9.34B | 9.62B | 8.6B | 7.65B | 6.31B | 6.06B | 5.82B | 5.94B | 5.7B | 5.96B | 5.72B | 5.76B | 5.15B | 4.91B | 4.94B | 5.6B | 5.71B | 5.58B | 5.42B | 4.97B | 4.82B | 3.1B | 3.16B | 3.34B | 2.56B | 2.47B |
| Short-Term Investments | 0 | 327.9M | 1.07B | 522.9M | 7.17B | 284.1M | 875.4M | 470.9M | 6.71B | 5.62B | 5.4B | 5.11B | 5.12B | 4.86B | 5.19B | 247.4M | 402.9M | 397M | 548.6M | 658.7M | 465.2M | 524.5M | 356.7M | 495.5M | 556.8M | 504.8M | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 0 | 1.09B | 0 | 0 | 692M | 0 | 0 | 0 | 8.08B | 6.23B | 6.06B | 5.8B | 5.68B | 5.45B | 5.86B | 1.1B | 1.13B | 1.18B | 1.42B | 1.4B | 1.35B | 1.4B | 1.26B | 1.46B | 1.24B | 1.71B | 1.12B | 995.7M | 299.4M | 349.9M | 393.1M |
| Cash & Equivalents | 0 | 126M | 65.4M | 64.1M | 212.4M | 148.2M | 206.1M | 136.8M | 75.1M | 45.7M | 115.7M | 161.7M | 76.1M | 66.5M | 96.3M | 251.2M | 117.2M | 143.7M | 184.2M | 103.1M | 157.9M | 44.5M | 82.1M | 65.7M | 16.9M | 27.9M | 23.3M | 24.1M | 8.6M | 14.5M | 17M |
| Receivables | 3.54B | 965.2M | 1.24B | 1.23B | 0 | 1.8B | 1.43B | 1.38B | 0 | 0 | 0 | 193.2M | 187M | 193.1M | 575.4M | 597.9M | 606.7M | 642M | 686.5M | 634.8M | 730.4M | 828M | 819M | 899.4M | 669.6M | 457.9M | 1.1B | 971.6M | 290.8M | 335.4M | 376.1M |
| Other Current Assets | 0 | -327.9M | -2.37B | -1.81B | 0 | -2.23B | -2.51B | -1.99B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 6B | 1.91B | 1.57B | 1.57B | 1.62B | 1.61B | 1.43B | 1.44B | 1.42B | 504M | 655M | 639.4M | 615.1M | 614.7M | 615.2M | 311.8M | 311.8M | 331.8M | 334.6M | 314.7M | 344.7M | 344.7M | 344.7M | 344.7M | 344.7M | 344.7M | 353.2M | 369.7M | 298.1M | 237.3M | 228.2M |
| Goodwill | 0 | 1.25B | 1.25B | 1.25B | 1.3B | 1.31B | 1.11B | 1.11B | 1.11B | 323M | 323M | 323M | 311.8M | 311.8M | 311.8M | 311.8M | 311.8M | 331.8M | 334.6M | 314.7M | 344.7M | 344.7M | 344.7M | 344.7M | 344.7M | 344.7M | 353.2M | 369.7M | 298.1M | 237.3M | 228.2M |
| Intangible Assets | 0 | 656.7M | 315.5M | 318.3M | 316.4M | 293.8M | 320.1M | 328.4M | 308.8M | 181M | 332M | 316.4M | 303.3M | 302.9M | 303.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 0 | 0 | 12.2M | 0 | 0 | 0 | 9.36B | 6.43B | 6.35B | 6.1B | 0 | 5.98B | 6.27B | 6.03B | 6.01B | 5.43B | 5.04B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 1.08B | -9.46B | -9.44B | -7.65B | -10.95B | -11.06B | -10.04B | -9.08B | -6.63B | -6.38B | -6.14B | -6.25B | -6.02B | -6.27B | -6.04B | -6.07B | -5.49B | -5.24B | -5.26B | -5.95B | -6.05B | -5.92B | -5.76B | -5.32B | -5.16B | -3.45B | -3.53B | -3.64B | -2.8B | -2.7B |
| Total Liabilities | 9.78B | 9.8B | 9.85B | 10.24B | 10.92B | 10.91B | 9.78B | 9.02B | 8.49B | 607.1M | 6.24B | 750.6M | 5.74B | 5.6B | 626.5M | 610.6M | 609.8M | 561.4M | 560.8M | 822.6M | 789.6M | 776.4M | 753.5M | 877.7M | 727.6M | 639M | 428.1M | 367.9M | 495M | 268.9M | 226.3M |
| Total Debt | 0 | 1B | 1.39B | 1.39B | 1.39B | 1.12B | 1.17B | 778.4M | 909M | 592.3M | 751.6M | 750.6M | 752.1M | 606.9M | 611.4M | 610.6M | 609.8M | 561.4M | 560.8M | 560.1M | 504.5M | 503.6M | 502.8M | 495.7M | 377.1M | 254.8M | 180M | 116.8M | 116.2M | 81.1M | 59.9M |
| Net Debt | 0 | 878.9M | 1.33B | 1.33B | 1.17B | 973.7M | 966.7M | 641.6M | 833.9M | 546.6M | 635.9M | 588.9M | 676M | 540.4M | 515.1M | 359.4M | 492.6M | 417.7M | 376.6M | 457M | 346.6M | 459.1M | 420.7M | 430M | 360.2M | 226.9M | 156.7M | 92.7M | 107.6M | 66.6M | 42.9M |
| Long-Term Debt | 0 | 943.5M | 941.7M | 1.39B | 1.39B | 672.9M | 724M | 329.8M | 909M | 592.3M | 751.6M | 750.6M | 752.1M | 606.9M | 611.4M | 610.6M | 0 | 561.4M | 560.8M | 560.1M | 504.5M | 503.6M | 502.8M | 495.7M | 377.1M | 254.8M | 180M | 116.8M | 116.2M | 81.1M | 59.9M |
| Short-Term Debt | 0 | 17.1M | 449.6M | 0 | 449.3M | 449M | 448.8M | 448.6M | 0 | 0 | 359.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 0 | 0 | 0 | 167.6M | 0 | 0 | 0 | 448.4M | 5B | 359.8M | 466.8M | 249.5M | 606.9M | 429.9M | 57.9M | 84.3M | 108.3M | 68.2M | 262.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Payable | 0 | 0 | 0 | 0 | -449.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 1.25B | 0 | 0 | 189.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | -2.03B | -449.6M | 0 | -718.4M | -1.29B | -1.18B | -1.18B | -674.9M | 4.55B | -812.9M | -466.8M | -380.9M | -331.3M | -431.4M | -461.2M | -452.9M | -447.9M | -523.8M | -639.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 47.3M | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 1000K | 0 | 1000K | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Liabilities | 0 | 8.8B | -956.5M | -1.44B | 9.26B | -899.9M | -1.01B | -508M | 7.59B | 5.66B | 5.47B | 5.29B | 4.95B | 4.99B | -611.4M | -610.6M | 0 | -561.4M | -560.8M | -822.6M | 0 | 0 | 0 | -877.7M | -727.6M | -639M | -428.1M | -367.9M | -495M | -268.9M | -226.3M |
| Total Equity | 2.64B | 2.67B | 2.78B | 2.5B | 2.44B | 4.01B | 4.56B | 3.97B | 3.05B | 2.12B | 1.98B | 1.99B | 2.09B | 2.05B | 2.16B | 2.22B | 2.11B | 1.92B | 1.65B | 2.3B | 2.28B | 2.16B | 2.04B | 1.82B | 1.8B | 1.92B | 1.7B | 1.72B | 1.82B | 1.53B | 1.48B |
| Equity Growth % | -5.03% | -4.13% | 11.15% | 2.53% | -39.04% | -12.18% | 14.88% | 30.24% | 44.17% | 7.11% | -0.86% | -4.7% | 1.91% | -5.1% | -2.45% | 4.86% | 10.21% | 16.32% | -28.25% | 0.6% | 5.85% | 5.84% | 12.08% | 0.92% | -5.97% | 12.67% | -0.92% | -5.78% | 18.88% | 3.56% | -2.9% |
| Shareholders Equity | 2.65B | 2.68B | 2.79B | 2.51B | 2.44B | 4.01B | 4.56B | 3.97B | 3.05B | 2.12B | 1.98B | 1.99B | 2.09B | 2.05B | 2.16B | 2.22B | 2.11B | 1.92B | 1.65B | 2.3B | 2.28B | 2.16B | 2.04B | 1.82B | 1.8B | 1.92B | 1.7B | 1.72B | 1.82B | 1.53B | 1.48B |
| Minority Interest | -14.5M | -12M | -4.1M | -200K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 1.14B | 1.16B | 1.23B | 1.01B | 1.38B | 1.76B | 2.07B | 1.81B | 1.36B | 1.24B | 1.17B | 1.21B | 1.2B | 1.22B | 1.12B | 1.21B | 1.2B | 1.09B | 985.8M | 1.19B | 1.23B | 1.19B | 1.16B | 1.08B | 1.09B | 1.23B | 1.15B | 1.28B | 1.38B | 1.21B | 1.27B |
| Common Stock | 5.9M | 5.9M | 6.4M | 6.4M | 6.4M | 6.4M | 6.5M | 6.7M | 6.5M | 5.1M | 5.1M | 5.1M | 5.2M | 5.6M | 5.8M | 6M | 6.1M | 6.2M | 6.2M | 6.4M | 6.7M | 6.9M | 6.9M | 6.8M | 6.8M | 6.7M | 6.8M | 7.1M | 3.8M | 3.8M | 3.7M |
| Accumulated OCI | -226.7M | -206.2M | -304.5M | -360.8M | -756M | 448.1M | 680.5M | 336.1M | 21.8M | 194.4M | 137M | 124.3M | 222.7M | 135.3M | 312.7M | 258M | 157.4M | 58.8M | -108.1M | 324.8M | 287M | 251.2M | 249.6M | 194.5M | 196.3M | 190.3M | 101.6M | -9.8M | 13.2M | 101.7M | 77.8M |
| Return on Equity (ROE) | 1.53% | 5.26% | 12.02% | -11% | -8.89% | -2.89% | 9.6% | 15.13% | 7.36% | 5.91% | 0.85% | 4.2% | 5.53% | 10.33% | 4.72% | 3.44% | 9.16% | 9.24% | -1.5% | 8.97% | 12.75% | 12.18% | 12.45% | 6.83% | -0.44% | 21.06% | 5.32% | 11.36% | 30.45% | 7.83% | 8.82% |
| Return on Assets (ROA) | 0.45% | 1.14% | 2.5% | -2.08% | -2.03% | -0.85% | 3% | 4.33% | 1.91% | 1.46% | 0.21% | 1.08% | 1.48% | 2.78% | 1.28% | 0.91% | 2.18% | 1.89% | -0.32% | 2.19% | 3.06% | 2.84% | 2.77% | 1.52% | -0.11% | 5.73% | 1.5% | 3.39% | 9.43% | 2.41% | 2.73% |
| Equity / Assets | - | 21.4% | 22.04% | 19.66% | 18.28% | 26.87% | 31.82% | 30.58% | 26.42% | 25.26% | 24.06% | 24.79% | 26.69% | 26.79% | 26.99% | 27.41% | 25.28% | 22.37% | 18.69% | 24.43% | 24.5% | 23.46% | 23.19% | 21.31% | 23.39% | 26.87% | 27.6% | 28.93% | 30.84% | 31.15% | 30.39% |
| Debt / Equity | 0.00x | 0.38x | 0.50x | 0.55x | 0.57x | 0.28x | 0.26x | 0.20x | 0.30x | 0.28x | 0.38x | 0.38x | 0.36x | 0.30x | 0.28x | 0.28x | 0.29x | 0.29x | 0.34x | 0.24x | 0.22x | 0.23x | 0.25x | 0.27x | 0.21x | 0.13x | 0.11x | 0.07x | 0.06x | 0.05x | 0.04x |
| Book Value per Share | 44.81 | 42.64 | 42.98 | 39.12 | 38.28 | 62.36 | 68.39 | 59.69 | 51.91 | 41.02 | 38.57 | 38.55 | 38.81 | 36.00 | 36.38 | 36.77 | 34.22 | 30.85 | 26.30 | 34.90 | 33.48 | 30.99 | 29.54 | 26.78 | 26.38 | 28.18 | 24.68 | 23.41 | 23.23 | 20.28 | 19.44 |
| Tangible BV per Share | 44.81 | 12.17 | 18.80 | 14.62 | 12.95 | 37.38 | 46.90 | 38.02 | 27.73 | 31.25 | 25.78 | 26.18 | 27.39 | 25.21 | 26.02 | 31.60 | 29.17 | 25.51 | 20.96 | 30.12 | 28.43 | 26.04 | 24.54 | 21.71 | 21.33 | 23.11 | 19.55 | 18.37 | 19.43 | 17.14 | 16.44 |
Reserve adequacy and capital erosion
As indicated by recent financial statements, Kemper's equity base has experienced a downward trend, declining from $3.0B in 2025Q2 to $2.6B by 2026Q1, reflecting the ongoing impact of underwriting losses and the strategic costs associated with exiting the preferred property and casualty insurance market segment.
The reduction in equity suggests that the company is consuming its capital buffer to absorb underwriting volatility rather than generating organic growth. Investors should monitor whether this trajectory stabilizes as the firm narrows its focus to specialty lines or if further capital erosion persists.
Based on reported figures, claims and loss reserves have remained elevated, with a peak of $1.4B in 2024Q4, indicating that the company is grappling with significant loss cost severity that continues to challenge the adequacy of its historical reserve estimates across the specialty auto portfolio.
The persistent level of claims relative to the total liability base suggests that Kemper may be facing adverse development in its long-tail lines. This warrants further investigation into whether current reserve levels are sufficient to cover future claims without requiring additional capital injections from the parent entity.
According to the latest balance sheet data, total liabilities have remained stubbornly high at $9.8B as of 2026Q1, which, when paired with a shrinking equity base, suggests a tightening of the company's statutory capital buffer and reduced flexibility for future strategic capital allocation or shareholder returns.
The current leverage profile appears to be under pressure as the company navigates a period of negative ROE. The lack of significant growth in the asset base relative to liabilities may indicate that the firm is operating with a diminished margin for error in its solvency position.
As reported in regulatory filings, the company's heavy reliance on specific jurisdictions like California creates a non-obvious balance sheet risk, where regulatory lag in rate approvals may lead to a mismatch between rising loss costs and the premiums collected to cover those specific regional liabilities.
This geographic concentration may mask the true underlying health of the specialty business, as the balance sheet remains sensitive to localized catastrophe events and state-level regulatory shifts. Investors should consider the potential for sudden reserve adjustments if regional loss trends continue to deviate from actuarial expectations.
Quick answers to the most common questions about buying KMPR stock.
As of 2025, Kemper Corporation (KMPR) had total assets of $12.47B including $1.09B in current assets.
Kemper Corporation (KMPR) carries total debt of $1.00B, offset by $453.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Kemper Corporation (KMPR) has total shareholders' equity (book value) of $2.68B ($42.64 book value per share). Book value represents the net worth of the company belonging to common stock holders.