• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Contact Us

Agency Checklists

Massachusetts Insurance News & Job Opportunities

You are here: Home / Insurance News | Massachusetts / Insurers | News / Kemper Exits Preferred Lines Turning Focus To Specialty Insurance

Kemper Exits Preferred Lines Turning Focus To Specialty Insurance

August 14, 2023 by Owen Gallagher


Kemper Corporation announced it will wind down its preferred personal insurance business to concentrate more resources on its specialty auto and life insurance units. The Illinois-based insurer said it will immediately begin non-renewing and canceling all policies issued under its Kemper Personal Insurance brand.

The preferred home and auto policies represent about $500 million in annual premiums written across eight underwriting companies. Kemper put the business under strategic review last November to evaluate its options.

“The decision to exit the business was made after thoughtful evaluation of our options and considered the most effective and efficient way to support our stakeholders,” said Kemper CEO Joseph P. Lacher Jr.

Shutting down the preferred personal lines allows Kemper to free up capital and increase support for its core operations in specialty auto insurance and life insurance. Kemper Auto focuses on non-standard auto customers, while its life insurance business offers products for high-net-worth individuals.

The exit comes after Kemper took a $45.5 million goodwill impairment charge related to the preferred business in Q4 2022. That non-cash charge reflected reduced expectations for future earnings power.

Winding down the preferred policies will have no impact on Kemper’s specialty auto unit or its life insurance division. Only the Kemper Personal Insurance branded offerings are being discontinued.

The move represents a strategic shift for Kemper to narrow its focus on specialty commercial lines and life insurance products. Shedding the preferred book should improve its risk profile and operating leverage. Kemper will work to ensure an orderly exit that complies with all state regulations on notification and transition timelines.

Primary Sidebar

New Episode

MA Insurance Lawyers

SPONSORED

MA DOI Advertisements

Career News

Davis & Towle Insurance Group Announces Christopher Nicolopoulos to be CEO: Other Leadership Changes

AAU Announces Hire of Roderiques in Boston, MA

AAU Announces Hire of Roderiques in Boston, MA

MIB Elects New Chair, Vice Chair, and Directors to its Board

Plymouth Rock Home Assurance Corporation Names Colleen Finn as Chief Marketing Officer 

Plymouth Rock Home Assurance Corporation Names Colleen Finn as Chief Marketing Officer 

View More Career News

In Memoriam

In Memoriam: Cheryl Ann (Rounsevell) Kuechler, 1945-2025

In Memoriam: Howard Shea, 1937-2025

In Memoriam: Rita Julia Messier, 1936-2025

In Memoriam: Rita Julia Messier, 1936-2025

Company News

RMV, AAA Northeast Promote Safe Driving for Teens Ahead of Summer

Arbella Insurance Foundation Launches Annual “Let’s Drive Out Hunger” Program to Raise Funds for Hunger Relief Programs Across New England

Arbella Insurance Foundation Launches Annual “Let’s Drive Out Hunger” Program to Raise Funds for Hunger Relief Programs Across New England

Progressive Drives Small Business Forward with $1 Million in Commercial Vehicle Grants

Agency Checklists, MA Insurance News, Mass. Insurance News, MA Life Insurance Companies, Boston Mutual

Boston Mutual Life Insurance Company’s Making An Impact Program Celebrates Seven Years of Giving Back

Footer

Agency Checklists

Contact us

We offer a variety of ways to get help promote your company or product.

Announcements
Email Sponsorships
Partnerships
Custom Collaborations

*Affiliate Disclosure

Please note that any of Agency Checklists’ articles might contain one or more affiliate links. This means that any subsequent purchase resulting from these links may result in a commission for us, but at no additional cost to you. For example, as an Amazon Associate, Agency Checklists earns a commission from all qualifying purchases. By working with affiliates we can continue to keep Agency Checklists subscription free. Thank you for your support.

Explore Our Archives

Copyright © 2025 · Agency Checklists · All rights reserved.

 

Loading Comments...