Kemper Corporation (KMPR) has reported a 578.26 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $31.20 million, or $0.60 a share in the quarter, compared with $4.60 million, or $0.09 a share for the same period last year.
Revenue during the quarter grew 4.17 percent to $642.70 million from $617 million in the previous year period. Net premium earned for the quarter increased 3.67 percent or $19.90 million to $561.40 million.
Total expenses come down marginally
Operating income for the quarter was $40.60 million, compared with an operating loss of $1.60 million in the previous year period.
Net investment income was at $79.90 million for the quarter, up 0.63 percent or $0.50 million from year-ago period.
“Kemper had a solid quarter and delivered $31 million in net income,” commented Joseph P. Lacher, Jr., Kemper’s president and chief executive officer. “We are making substantial progress, especially in our nonstandard personal auto lines.
Liabilities outpace assets growth
Total assets increased 2.17 percent or $174.40 million to $8,210.50 million on Dec. 31, 2016. On the other hand, total liabilities were at $6,235.30 million as on Dec. 31, 2016, up 3.17 percent or $191.60 million from year-ago.
Return on assets stood at 0.66 percent in the quarter, up 0.33 from 0.33 percent in the last year period. At the same time, return on equity was at 1.58 percent in the quarter, up 1.35 from 0.23 percent in the last year period.
Investments move up marginally
Investments stood at $6,607.50 million as on Dec. 31, 2016, up 2.77 percent or $178 million from year-ago. Meanwhile, yield on investments went down 3 basis points to 1.21 percent in the quarter.
Shareholders equity stood at $1,975.20 million as on Dec. 31, 2016, down 0.86 percent or $17.20 million from year-ago.
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