CHICAGO--(BUSINESS WIRE)--Kemper Corporation (NYSE: KMPR) announced today that it is realigning its Property & Casualty business. This realignment will result in one Property & Casualty segment for financial reporting purposes, beginning with the first quarter 2014.
The new Kemper Property & Casualty segment will consist of the following:
- Kemper Personal and Commercial Lines, which will include private passenger and commercial auto, home and other lines
- Kemper Specialty California, which will focus on Kemper’s largest non-standard private passenger auto market
- Kemper Direct, operating in run-off mode
- Shared services supporting the Property & Casualty segment, including legal, claims, technology, human resources, project management and finance
Denise Lynch, Kemper’s Property & Casualty Group Executive, will continue to lead the new segment. Reporting directly to Lynch will be Brian Delfino, Kemper Personal and Commercial Lines General Manager, Tim Bruns, Kemper Specialty California General Manager, as well as the General Managers of Kemper Direct and the shared services functional leaders. Additionally, Pete Hansen will become Senior Vice President for Property & Casualty Claims.
“Brian has been with the company for 28 years and is a key executive on the Property & Casualty leadership team. Over the past three years he successfully led our claims organization through its transition to a shared services model to the benefit of both our customers and our organization. I look forward to Brian’s leadership in this newly created role where he will be able to further implement profit and growth initiatives,” added Lynch. “Tim Bruns has led Kemper Specialty over the past three years, and he will focus the Kemper Specialty California team on serving the non-standard personal auto needs of the California market. Pete is a seasoned claims executive and is well-prepared to lead the claims organization.”
Andrea James, Kemper Preferred’s President for the past year, will be leaving the company effective February 14, 2014. “I’d like to thank Andrea for her many contributions and wish her well,” added Lynch.
When Kemper issued its fourth quarter 2013 investor supplement, it also included pages showing the combined Property & Casualty results in the new reporting format (pages 21 through 26). Beginning in the first quarter 2014, Kemper will switch to this reporting format and cease publication of Kemper Preferred, Kemper Specialty and Kemper Direct segments. The latest supplement is available by visiting the investor section of kemper.com.
About Kemper
Kemper is a diversified insurance holding company with subsidiaries that provide an array of products to the individual and small business markets:
- Life insurance
- Health insurance
Kemper markets to its customers through a network of independent agents, brokers and career agents.
Additional information about Kemper is available by visiting kemper.com.
