The sequential improvement in the Specialty Auto combined ratio to 99.2% is a positive sign, but the underlying combined ratio of 101.7% shows the core business is still unprofitable. Watch the full Q3 release on November 9 for revenue, premium trends, and whether the favorable reserve development is sustainable.
Price Chart
Executive Summary
Kemper reported preliminary Q3 2026 results showing a sharp sequential improvement: net income of ~$52M ($0.88/diluted share) vs a net loss of $465M in Q2 2026, driven by a $460M goodwill impairment in Q2. Adjusted consolidated net operating income rose to ~$60M ($1.01/diluted share) from $26M in Q2. The Specialty Auto combined ratio improved to 99.2% from 104.0%, including $23M of favorable prior-year reserve development. The underlying combined ratio was 101.7%, still above 100%, indicating core underwriting remains unprofitable.
Key Financial Metrics
Key Facts
- Net income expected ~$52M ($0.88/diluted) vs net loss of $465M ($7.90) in Q2 2026
- Adjusted consolidated net operating income ~$60M ($1.01/diluted) vs $26M ($0.45) in Q2 2026
- Specialty Auto combined ratio improved to 99.2% from 104.0% in Q2 2026
- Specialty Auto underlying combined ratio 101.7% vs 102.3% in Q2 2026
- Life insurance operating earnings ~$20M vs $18M in Q2 2026
- Consolidated net investment income ~$107M vs $105M in Q2 2026
- Full Q3 2026 results to be released November 9, 2026
Financial Impact
Preliminary Q3 2026 net income of ~$52M vs net loss of $465M in Q2 2026; adjusted operating income of ~$60M vs $26M in Q2 2026
Risk Factors
- Underlying combined ratio above 100% indicates core underwriting losses persist
- Preliminary results subject to revision when full Q3 results are released November 9
- Favorable prior-year reserve development of $23M may not recur
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000860748-26-000091 |
| Document: kmpr-20261028.htm | 0000860748-26-000091 |
| Document: 0000860748-26-000091-index-headers.html | 0000860748-26-000091 |
| Document: 0000860748-26-000091-index.html | 0000860748-26-000091 |
| Document: 0000860748-26-000091.txt | 0000860748-26-000091 |
| 8-K Data (Synthetic) | 0000860748-26-000091 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 2d ago | 8-K | $29.30 | awaiting T+20 | awaiting T+20 | $33.22 (+13.38%) |
Aug 13, 2026 11w ago | Insider Cluster | $27.42 $27.90 | ▲ +1.75% | ▲ +3.74% | $33.22 (+21.15%) |
Aug 11, 2026 11w ago | Insider Cluster | $26.51 $27.02 | ▲ +1.92% | ▲ +3.82% | $33.22 (+25.31%) |
Jul 21, 2026 14w ago | 8-K | $28.12 $26.21 | ▼ −6.79% | ▼ −9.35% | $33.22 (+18.14%) |
Jun 26, 2026 18w ago | Institutional Cluster | $26.81 $27.64 | ▲ +3.10% | ▲ +1.84% | $33.22 (+23.91%) |
Jun 11, 2026 20w ago | Institutional Cluster | $24.78 $29.06 | ▲ +17.27% | ▲ +15.38% | $33.22 (+34.06%) |
Mar 25, 2026 31w ago | DEFA14A | $31.17 $32.82 | ▲ +5.29% | ▼ −5.37% | $33.22 (+6.58%) |
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