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KEMPER Press Release Kemper Corporation 200 East Randolph Street Suite 3300 Chicago , IL 60601 kemper.com Exhibit 99.1 Kemper Reports Second Quarter 2021 Operating Results CHICAGO , July 29 , 2021 - Kemper Corporation ( NYSE : KMPR ) reported net loss of $ 62.6 million , or $ ( 0.97 ) per diluted share , for the second quarter of 2021 , compared to net income of $ 126.1 million , or $ 1.91 per diluted share , for the second quarter of 2020. As adjusted¹ for the acquisitions of American Access Casualty Company ( " AAC " ) and Infinity Property and Casualty Corporation , net loss was $ 52.5 million , or $ ( 0.82 ) per diluted share , for the second quarter of 2021 , compared to net income of $ 149.3 million , or $ 2.25 per diluted share , for the second quarter of 2020. In the second quarter of 2021 , net loss included a $ 32.3 million after - tax gain , or $ 0.50 per diluted share , attributable to the change in fair value of equity and convertible securities . Adjusted Consolidated Net Operating Loss¹ was $ 99.4 million , or $ 1.54 per diluted share , for the second quarter of 2021 , compared to adjusted Consolidated Net Operating Income¹ of $ 79.2 million , or $ 1.20 per diluted share , for the second quarter of 2020 . Key themes of the quarter include : • Specialty P & C earned premiums increased 33 % and policies - in - force ( ex . Classic Car ) grew ~ 19.4 % ; AAC contributed 12.2 % and 14.0 % for earned premiums and policies - in - force , respectively Specialty P & C underlying combined ratio¹ was 107.3 % , due primarily to higher claim frequency and severity trends Specialty P & C experienced adverse prior year development of $ 81M , or 8 points , primarily driven by legal developments and increased severity in personal injury protection coverage in Florida Repurchased shares worth $ 112 million and finalized acquisition of AAC Net investment income results were strong for the quarter , primarily driven by Alternative Investments Kemper remains well positioned to support customers and grow long - term shareholder value " Our second quarter results demonstrated strong topline growth offset by a number of industry - related environmental challenges that impacted earnings , " said President , CEO and Chairman Joseph P. Lacher , Jr. " The pandemic's re - opening is happening faster than projected , resulting in a significant increase in auto frequency and severity . Although these effects were mostly anticipated , the speed of the re - opening magnified their financial impact in this quarter's results . In addition , severity was impacted by social inflation creeping into lower - limit policies and Florida personal injury protection court rulings that impacted multiple policy years . As a result , the Specialty P & C segment generated an as adjusted underwriting loss of $ 60 million and an as adjusted underlying combined ratio of 106 % . We believe this to be short - term in nature extending a few quarters while we take appropriate corrective measures . " That said , this quarter we saw rising demand for our products . In specialty P & C , as adjusted , policies in force grew nearly 6 % and direct written premium increased 13 % . The business remains well positioned for attractive long - term growth and , through proactive corrective measures , appropriate long - term returns . Our life business continues to experience increased demand and historically strong policy retention . The heightened level of mortality we experienced earlier in the pandemic is beginning to subside , positioning the business for ongoing profitable growth . " Related to capital deployment , we continue to take actions that enhance the long - term intrinsic value of the company . We closed on our acquisition of American Access on April 1 and repurchased roughly $ 160 million of shares through the end of the quarter , while maintaining a high level of financial flexibility . Despite this quarter's challenges , our balance sheet and business model remain strong and well - positioned to navigate the re- opening . We're taking the right measures to ensure we improve results and continue to deliver on our promises to our customers , as well as attractive long - term results and value creation for our stakeholders . " 1 Non - GAAP financial measure . All Non - GAAP financial measures are denoted with footnote 1 throughout this release . See " Use of Non - GAAP Financial Measures " for additional information .