KEMPER Corp
For the period ended May 1, 2024. Filed Mar 20, 2024.
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May 1, 2024 · Filed Mar 20, 2024
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Appendix A-2 - Performance Metrics
The information in this Appendix A-2 describes the calculation of the performance metrics associated with Kemper’s Short-Term Incentive Compensation Plan. This information supplements the disclosures in the Compensation Discussion and Analysis section of the Proxy Statement.
Adjusted Operating Income
| Adjusted Consolidated Net Operating Loss ($ Millions) | (47.2) | |
|---|---|---|
| Adjustments | ||
| Add back: Catastrophe Losses and LAE in excess of Expected Catastrophe Losses* | 15.0 | |
| Add back: Net impact of significant unusual or nonrecurring items | ||
| Adjust for prior-year losses resulting from Florida Personal Injury Protection law change | 38.2 | |
| Adjusted Operating Income | 6.0 | |
- Excludes Catastrophe Losses and LAE in excess of Expected Catastrophe Losses for the Preferred Property and Casualty Insurance business, which is now reported in Non-Core Operations.
Distributable Cash Flow
| Insurance Company Statutory Net Income ($ Millions) | (281.7) | |
|---|---|---|
| Estimated GAAP Income of Non-Statutory Entities | 6.8 | |
| Net Dividends Paid to Kemper Corporation | 332.0 | |
| Adjustments | ||
| Add back: Catastrophe Losses and LAE in excess of Expected Catastrophe Losses | 18.1 | |
| Add back: Net impact of significant unusual or nonrecurring items | ||
| Adjust for income impact from unrealized gains on fixed maturities and intercompany transactions with no economic impact at a Kemper consolidated level | 106.1 | |
| Adjust for GAAP income impact of the Pension write-off | 55.5 | |
| Adjust for prior-year losses resulting from Florida Personal Injury Protection law change | 38.2 | |
| Adjust GAAP Income for losses in Fixed Income Derivative used to hedge LDTI liability gains / losses that flow through AOCI | 9.4 | |
| Total Net impact of significant unusual or nonrecurring items | 209.2 | |
| Distributable Cash Flow | 284.3 | |
| 2024 PROXY STATEMENT | 93 |
|---|
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