KEMPER Corp
For the period ended May 7, 2025. Filed Mar 26, 2025.
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May 7, 2025 · Filed Mar 26, 2025
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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 Income ($ millions) | 381.5 | |
|---|---|---|
| Adjustments | ||
| Add back: Catastrophe Losses and LAE in excess of Expected Catastrophe Losses and LAE* | (1.5) | |
| Adjusted Operating Income | 380.0 | |
- 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) | 451.2 | |
|---|---|---|
| Estimated GAAP Loss of Non-Statutory Entities | (133.9) | |
| Net Dividends Paid to Kemper Corporation | 213.3 | |
| Adjustments | ||
| Add back: Catastrophe Losses and LAE in excess of Expected Catastrophe Losses and LAE | 14.9 | |
| Add back: Net impact of significant unusual or nonrecurring items | ||
| Adjust for income impact from unrealized gains/losses on fixed maturities with no economic impact at a Kemper consolidated level | 117.1 | |
| Adjust GAAP income for losses in Fixed Income Derivative used to hedge LDTI liability gains / losses that flow through AOCI | 6.2 | |
| Adjust GAAP income for net impact of the Pension write-off and reversion of Pension assets charge | 5.2 | |
| Adjust for utilization of carry forward tax losses and investment credits from prior years | (65.1) | |
| Total net impact of significant unusual or nonrecurring items | 63.4 | |
| Distributable Cash Flow | 608.9 | |
** Includes adjustments for Preferred Property and Casualty to plan.
| 2025 PROXY STATEMENT | 87 |
|---|
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