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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 Third Quarter 2021 Operating Results CHICAGO , October 28 , 2021 - Kemper Corporation ( NYSE : KMPR ) reported net loss of $ 75.3 million , or $ ( 1.18 ) per diluted share , for the third quarter of 2021 , compared to net income of $ 122.3 million , or $ 1.83 per diluted share , for the third quarter of 2020. As adjusted¹ for the acquisitions of American Access Casualty Company ( " AAC " ) and Infinity Property and Casualty Corporation , net loss was $ 68.6 million , or $ ( 1.08 ) per diluted share , for the third quarter of 2021 , compared to net income of $ 139.9 million , or $ 2.10 per diluted share , for the third quarter of 2020. In the third quarter of 2021 , net loss included a $ 0.5 million after - tax loss , or $ ( 0.01 ) per diluted share , attributable to the change in fair value of equity and convertible securities . Adjusted Consolidated Net Operating Loss¹ was $ 75.8 million , or $ ( 1.19 ) per diluted share , for the third quarter of 2021 , compared to Adjusted Consolidated Net Operating Income¹ of $ 90.9 million , or $ 1.36 per diluted share , for the third quarter of 2020 . Key themes of the quarter include : . • Specialty P & C earned premiums increased 18 % and policies - in - force ( ex . Classic Car ) grew ~ 17.8 % ; AAC contributed 10.6 % and 13.6 % for earned premiums and policies - in - force , respectively Specialty P & C underlying combined ratio¹ was 108.9 % , due primarily to higher claim frequency and severity trends Specialty P & C experienced adverse prior year development of $ 25M , or 2.4 points , primarily driven by legal developments and increased severity in personal injury protection coverage in Florida Consolidated catastrophe losses were $ 32.4 million , primarily related to Hurricane Ida and several wind / hail events 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 " Continued industry - related environmental pressures challenged our financial results , " said President , CEO and Chairman Joseph P. Lacher , Jr. " In our P & C segments , the strong post re - opening economy led to additional increases in loss costs . In addition , an atypical second surge in Florida personal injury protection litigation led to an increase to prior year reserves of $ 25 million . Corrective actions including rate increases and non - rate actions are in progress to return us to target profitability and position us for growth in 2023. Further , our Life business saw strong persistency improvements and generated an increase in earned premiums of 5 % , although we saw increased COVID - related mortality due to the Delta variant . " Our balance sheet provides appropriate financial stability for the challenges faced by the industry . Our strong capital and liquidity positions enable us to navigate and optimize the current environment . Despite the current challenges , we remain financially strong , and our team will continue to deliver on our promises to our customers and provide attractive , long - term results and value for our shareholders . " 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 .