Business Description

Kemper is an insurance holding company that offers complementary insurance products, through its subsidiaries, including personal and commercial automobile insurance to consumers in targeted markets and industries. Kemper also offers life and other insurance solutions to customers who desire basic protection for themselves and their families. Kemper’s annual reports on Form 10-K, quarterly reports on Form 10‑Q, current reports on Form 8-K and amendments thereto are accessible free of charge through Kemper’s website, kemper.com, and as soon as reasonably practicable after such materials are filed with, or furnished to, the SEC, which also maintains an Internet site at sec.gov that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. Registrant is a holding company incorporated under the laws of the State of Delaware in 1990, with equity securities traded on the New York Stock Exchange (the “NYSE”). On August 25, 2011, Registrant adopted its current name, Kemper Corporation, and changed its NYSE ticker symbol to KMPR. Prior to the name change, the Registrant was known as Unitrin, Inc. and traded under the NYSE ticker symbol UTR. The Kemper family of companies is one of the nation’s leading specialized insurers. With approximately $12.5 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Kemper Auto and Kemper Life brands. Kemper serves over 4.5 million policies, is represented by more than 24,100 agents and brokers, and has approximately 7,400 associates dedicated to meeting the ever-changing needs of its customers. The Company is engaged, through its subsidiaries, in the property and casualty insurance and life insurance businesses. The Company conducts its operations through two operating segments: Specialty Property & Casualty Insurance and Life Insurance. The Company conducts its operations solely in the United States. Kemper’s subsidiaries employ approximately 7,400 associates supporting their operations, of which approximately 2,550 are employed in the Specialty Property & Casualty Insurance Segment, approximately 2,800 are employed in the Life Insurance segment and the remainder are employed in various corporate and other functions. Property and Casualty Insurance Business General The Company’s property & casualty insurance business operations are conducted primarily through the Specialty Property & Casualty Insurance segment. The Specialty Property & Casualty Insurance segment distributes these products primarily through independent agents and brokers who are paid commissions for their services, but also distributes a smaller portion of these products through direct to consumer and captive channels. In addition, the Life Insurance segment’s career agents also sell contents coverage for personal property to its customers against loss resulting from fire, lightning and other causes as well as personal general liability coverage. Collectively, these segments provide specialty automobile, fire/contents, and other types of property and casualty insurance to individuals and commercial automobile insurance, and general liability as an endorsement to commercial automobile, to businesses. 4 Net Written Premiums for the Property and Casualty Business were as follows: DOLLARS IN MILLIONS 2025 2024 2023 Business Segments: Specialty Property & Casualty Insurance Segment: Specialty Personal Automobile Insurance $ 2,934.1 $ 2,887.7 $ 2,677.5 Commercial Automobile Insurance 978.7 797.7 627.9 Life Insurance Segment: Fire/Contents Protection 41.0 43.3 45.3 Total Segment Net Written Premiums 3,953.8 3,728.7 3,350.7 Non-Core Operations 59.4 108.3 435.5 Total Property and Casualty Net Written Premiums $ 4,013.2 $ 3,837.0 $ 3,786.2 Property insurance indemnifies an insured with an interest in physical property for loss of, or damage to, such property. Casualty insurance primarily covers liability for damage to property of, or injury to, a person or entity other than the insured. In most cases, casualty insurance also obligates the insurance company to provide a defense for the insured in litigation arising out of events covered by the policy. Specialty Property & Casualty Insurance The Specialty Property & Casualty Insurance segment, based in Chicago, Illinois, conducts business in 22 states under the Kemper Auto brand.…