The Kemper Corporation (NYSE:KMPR) announced that it is exiting the preferred home and auto insurance market, sold through its Kemper Personal Insurance brand, and will actively reduce the business immediately, with all policies being non-renewed or canceled in accordance with applicable state regulations. Kemper was the 11th largest private passenger auto insurer in the U.S. in 2022 with over $3.8 billion in direct premiums earned.
This announcement has no impact on the company’s specialty auto business, Kemper Auto, and its life business, Kemper Life.
The company’s preferred property and casualty business includes eight underwriting companies which comprise approximately $500 million
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