Earnings call transcript Q4 2022

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Operator

Good afternoon, ladies and gentlemen, and welcome to Kemper's Fourth Quarter 2022 Earnings Conference Call. My name is Jason Erne and I will be your coordinator today. [Operator Instructions].

I would now like to introduce your host for today's conference call, Karen Guerra, Kemper's Vice President of Investor Relations. Ms. begin. may you Guerra,

Karen Guerra

President Sanders, and President; of Good Kemper's fourth and and afternoon, the quarter Lacher, Financial Vice Executive from Casualty operator. Division and President Vice Kemper's a Stonehocker, remarks discussion President and President Life. few Vice President of quarter you'll to President of Q&A Joe Property Chief Officer Chief to around President, our XXXX Matt Kemper's Jim afternoon, you, Kemper McKinney, Vice welcome Executive followed and Kemper We'll make provide session. Hunton, Kemper's Executive everyone, Officer; by a Auto; Kemper's hear our Chairman; Executive Tim Duane Executive Thank results, Kemper's results. opening and fourth This context and

interactive we earnings published within Vice Chief President by our call, will our the During of to the intend the our and today, next Form and financial issued our earnings Executive XX-K file presenters SEC our markets John with Kemper's the presentation be portion and closed supplement. Boschelli, We After week. Investment Officer. joined release

Private discussion XXXX. Litigation company's contain today with the statements meaning Reform the its future limited and Our outlook and safe but of condition. provisions Act operations forward-looking of of are include, financial These harbor the statements the not may Securities to, of results

may materially by these from differ condition statements. may financial and pandemic. COVID-XX the impacted results also statements future be actual Our These

For refer XX-K well quarter as additional earnings fourth information that Form XXXX please to as our on risks statements, these impact may our forward-looking release.

and release, all meaningful to financial measures supplement, we've non-GAAP defined rules. financial we accordance SEC investors. earnings to the the discussion where measures non-GAAP are financial reconciled also GAAP required with believe afternoon's includes This and In our earnings in presentation that

documents be each of find the these stated. period the can comparative will corresponding to of references our unless kemper.com. otherwise website, Investors All section XXXX on You

the turn over to call Joe. will I now

Joseph Lacher

saying Thanks for a future. welcome quarter joining quarter about I everyone. our fourth Good results. few call. Karen. you, I'm by conference financial included to profitability items by impacting infrequent and Kemper's us afternoon, masked Thank that today, optimistic start underlying to improving The want

Our target in greater capital and are Further, well enable cash while reducing initiatives our company to to profitability. top the returning priority return underway. earnings remains volatility flow

We are observing underlying of continuous profitability improvement core in our the businesses.

Kemper's producing focus recent strategic consolidated year. achieving bullish second net company the I'm and first returns already market income during of of attractive the the are results. initiatives during and and capabilities, delivering adjusted positions provide enhancement Our to underwriting actions half operating differentiated half of about long-term shareholders. the profits strength The XXXX near- to

personal we our activities quarter, rate-taking progress growth third cost specialty aligned initiatives. rate exceeded profitability. on with include approval the auto, forecast, for fourth made the and California the strong enhancements improved Highlights structure following: commitments, quarter each Vehicle continued quarter Commercial third In of profitable Life

team adapt The This quality remains ingest to current changes. these timely use agile, to be can information us operating quickly respond requires a and have and environment dynamic. that and

to the place and opportunities emerge navigate will through that back in capture We team on this have the right period side. the

Jim to include reminder, presentations be ahead. Specialty who Matt a responsible will to myself Hunt, a York as This Auto for leads great business. Day March Thursday, road as As Tim X. Kemper's who's discuss Life an event will New be our The well Investor we'll our and on in journey platform and franchise; holding from Stonehocker date and the

usual are joining Tim and Matt our result, a speakers As today.

strategic to the update turn call now I'll an to discuss results our initiatives. details additional Jim on over and operating our on

James McKinney

with on results. X and begin Thank our you, financial X Joe. consolidated Pages will I

This included loss the of For diluted catastrophe $X.XX share $X consolidated operating diluted year an in development million and prior net of per of loss quarter. unfavorable adjusted share. net losses reserve $X we the quarter, million $X.XX generated of a and per

and facing life continue modest challenges while trend moderating the impact adverse to environmental severity ongoing seasonality insurance development The elevated Significant Kemper's industries and inflation, mortality. and P&C factors financial include results.

and restoring that the us the efforts returns. business target on achieve inputs energy concentrated to Our and remain to enable profitability our will

to at in rate, These mortality in in financial of pace, underwriting include and results. our reduced actions run will implementing expenses. filing profit for improvements in actions Life additional and business earning expense reducing further The rates combination continued accelerated lead improvement -- our an

It ratio normalized greater to This X. our our the into Turning have underlying ratio includes items, improvement seasonality ratios. biggest underlying these of X walk. improvement saw details Specialty's approximately of and modest items Slide and for enable in combined impacting we combined in approximately underlying points to P&C. insight To reserve we preferred P&C development. X.X an point reported results sequential included Normalizing

Page to Moving X.

costs year modest in It settlement intra-year claims, defense and This by prior and development. claims values time to prices. driven litigated PIP increase quarter, an a used third-party by we had in additional was relative lines for decline salvage driven elongated car

information. prior operating the Consistent to $XX.X changes. and due of to maintain we allows this which react are and transparency reserving that million. accomplish gather provide we us year Despite reserves. with creates, the to speed approximately favorable year, able trend had philosophy, with we for development challenges into appropriate and Recall act quickly This our today's we the environment upon quality

to expect growth on several X. Moving These of Last operating are our reductions. to Page commitments. initiatives quarter, deliver including on we improve and and expense model each announced track, to productivity enhancements we

enterprise $XX in savings X.X rate savings. approximately During and our included in $XX points million optimization. secured $X million quarter, we expense from real LAE fourth million in approximately reductions in ratio, estate $XX or our million improvement run This

highlight X. Page We to Turning strength of sheet. balance the our

Further, this capital capitalized appropriately healthy balance navigate have we insurance to We have in billion. of appropriately and continue businesses advancement a capabilities. to core liquidity the the of needed environment $X.X invest and

debt long-term of to to XX% reducing committed outstanding we to XX%. are by million debt-to-capital back our In bringing addition, $XXX target as our and previously ratio disclosed,

XX. to investment for Page $XXX was income million. the quarter Net Moving

of New to equivalent of pretax annualized be XXX will portfolio over fixed leading points book reinvestment to estimate income. investment are our million income to up subject will a This million provide incremental investment XXX in X.X%. improvements $XXX yield the to $XXX yields We to year, future XXXX. basis prior

On Page XX, we provide on an update strategic initiatives. our

establish During filings submitted of the to with the quarter, our we Insurance reciprocal initial Illinois exchange. Department a

and to third premium the We formed during to Kemper project quarter attorney-in-fact. Management write reciprocals as also track, in expect on the LLC the is structure XXXX. The we of serve

of to Company Reserve we the on Additionally, of and as Medical otherwise X. subsidiaries Ohio December sale Mutual Insurance National known its Kemper completed Health

indicated initiated our Kemper strategic auto third preferred we call, Finally, our review on quarter and as of home a Personal business. Insurance,

when details We options and continue to share we'll explore additional available.

the call the to turn now discuss will P&C over Matt business. Specialty to I

Matthew Hunton

you, Jim, good everyone. Thank and afternoon,

earlier Moving with the laser-focused to Page P&C target on we to business. business XX Joe's restoring comments, and are Aligned our Specialty profitability.

trends are is outpacing loss improving. profitability actions Our and cost underlying

As ratio loss noted on of Page by reflected specialty point, improvement approximately X, trend. book sequential during earned driven underlying the the combined auto the X a normalized exceeding rate of quarter, realization

of the points we third effective business. and XX with of Through Let on components the entire Specialty auto in across the points X have our book, that for quarter been filed Auto having average fourth XX of basis XXXX, are have me quarter, points earned. rate. on approximately market X weighted comment been of personal the a Since approved

we we rate to As loss file forward, move trends. cost will to continue aligned

Shifting Vehicle, to business continues perform to Commercial the well.

deliver is the underlying For combined segment profits XXXX. grew underwriting in policies XX.X%, the To the the reaffirm, second and grew year, ratio XX%. net the premiums additional written in see half year-over-year expected force was improvements and quarter in XX% first of to

will the call I now Duane. over turn to

Duane Sanders

you, Thank Matt.

is restoring preferred profitability. to turn business, XX. on we'll specialty Page auto focused to Now the Similarly the segment

the Page by quarter items. was points. X.X underlying quarter On seasonality few a a on development. and preferred normalized noted modest As combined X, improved ratio by reserve impacted approximately includes prior This unusual basis,

As the for keep continue in of non-rate half to taken profit to quarters, the couple of we deliver rate will trend, have second and and actions the we take with expect pace look year. will we and improvement forward the we next

will now call Tim Life the turn I cover to to the over business.

Timmy Stonehocker

you, Thank Duane.

on business market impacting of Turning persistency. and Page strong demand sales to XX. inflation good Life Despite the see our & Health to business our segment, continues higher levels

improve are levels prepandemic profitability sales with business subsiding. and headwinds to pandemic-related . aligned with continues New

prepandemic Excess mortality are levels has and declined nearing continued for mortality expect improvements. we the last quarters, X and

financial In benefit will results. pricing addition, these our continues our from additional or the to business new yields above of investment assumptions. in lead improvements to combination at items The

Joe. now turn to the call over I'll

Joseph Lacher

Thanks, Tim.

to XX. about I be Turning optimistic Page summary, our continue prospects. to In

with basis. book this understanding leave call the initiatives on will should first, benefits our accelerated You following: financial of the strong earn into the of an a

underwriting an the We first expect the second of profit the year make in half. profitable half during to and be

excess profitability of assumptions. the including to Second, mortality trend pricing positively, drive loss in improving trend, interest and inputs continue that rates rate above

are efforts produce integration reciprocal risk. to and reduce capital restructuring our on long-term And further and savings. capital opportunities and provide and initiatives Third, to short- Bermuda lastly, targeted track optimize expense

we over the last have costs response in loss XX to We the taken actions in are confident seen months. increased

right will in model trending direction. are We profitability Enhancements gain. advance the further operating in our

thank effort Kemper their for and team to collective our entire Finally, I want dedication.

that, take we operator, With questions. can now

Operator

[Operator Instructions].

is Greg Peters question with first from Our James. Raymond

Charles Peters

the you've the seeing the of how and regarding of with, that come you for second profitability in Joe, you 'XX of with the rate filed actions action you To a operating the off provided I'm first half taken? provided Or for wondering into quarter that guidance you've first for really guidance we're How previous underwriting expectations guidance rate the income reflection that intersect play the start is those in 'XX. thanks 'XX. half the and that provided?

Joseph Lacher

and particularly bulk in to of driven file thanks likelihood for first half taken. the that the driven and is approved for going of the all If it be by comments. by -- Greg, we effective something going to is actions it could, be first written being of are year, to of in the year rate and have quarter, on and if already the The it year. de then be earned minimis of written have the the half enough It were the first half year. impact the working the a on in some approved it rate, the impact into will the start back early

it. those affect So could

regardless statement half whether make we to get assume, in expecting the be we're not underwriting approval of numbers. the or though, and first during quarter an profit second first to that should our half an that profits on You the

Charles Peters

seemed can a the where at problems some around the sense -- is regionally this moment is color the in time? the this give where hotspots or you Or of opportunity the us where for appropriate. this to Florida in, Can are network? this across a decline, pivot you maybe at then real That's good it specific out again? look count Okay. policy chime And Duane, growth and and is I calling but like you're Matt PIP

Joseph Lacher

Sure, and maybe is to comments to because little offer a it's I'm quick going you reserving with to Greg. Jim, some I'm a comment And I a these a some Maybe, Jim through less would function, operational then to start the numbers. ask this guys going more working you of add? and little of how actually want tell

James McKinney

thank you, Greg, Joe. Yes,

the rate what that revisit caused we year importantly in in from terms and that what obviously, change a bit years changes the prior PIP I when increased the that about given, again, occurring. where associated of litigation and we of purely you is This which frequency I'm of sure amounts making cost these bit we've that it this with sure revealed folks of can can here and of nothing element in That going look think difference that's think more that's back quarter a that here. with -- I across claims, to here other the little overall, forward, side kind notable. changes of of dollar And or go. here big We right litigation again, this then that. this a a see than kind kind and defense are tell in take severity maybe with got to of quarter, XXX% of we not Florida. some it's be. again, seeing of related But associated in is some took note an care that kind we're property additional the that the benefits don't see in little the we changes going and we've of seen is more amount really that to assignments what elements us again, it's to activity Maybe some -- in

Duane Sanders

Only is one beyond that. thought Yes. This Duane.

or times from call, lot it's obligation frivolous would of that that you is think to there's, to I not important a And all type perspective, recognize defend. in created litigation, equal. a I space have or what prefer but litigation litigation an still meritless

it's you severity as in probably sure the through. to up, those piece that Jim's handle a And the they defense that just lot we on making on position so and side. truing don't see were point, And we're to a come more

Charles Peters

reinsurance question It change, Slide going some the on it. on Got just catastrophe looking but Last ex your obviously give your -- you look renewals. And the at XX, I ag loss industry. retention you color going where doesn't like is program. drop just program. maybe Maybe what's in the about It's on you cat there. can pivot pretty was talk to did a us topical you could to the

James McKinney

of obviously, some with think the kind Yes. that everyone's and No. aware the of have in elements market, on the gone trends uncertainties other obviously, Thanks, picture-wise, Greg. and reinsurance inflation there. of Jim again. I big

couple were breakeven where to a perspective, years, [indiscernible]. the a last been had we crossover pricing Over essentially we from from of close

Again, XXXX. claim since we haven't or used had anything a like

and And we've we added relative perspective, just property that maintain the penciled book shrinking kind with no with think the longer inside of that today, stage this book have the to that both an that you there pricing it. the was from in so when just economic at it's diversification out to or about that increased

the updated But our that best value if the shareholders have us way. always think the of And changes considerations have $X terms we we're total our kind include dollars, net inside the thoughts Not would our this. it us. other of to about big historical $X sure of of It to with make answer are a program our what kind and for of -- we was and a element of again, been the think change framework that the couple kind again, So you in million that stakeholders. once market, million, solving is for you of accordingly. us kind million we capital

Operator

Our is Brian next UBS. Meredith, from question

Brian Meredith

A couple of them for here.

mean a of say you in profitability total? or Specialty underwriting Just just clarification. Specialty When wise quick be second the Commercial do in both half will and the in you P&C, year profitable Specialty Personal

Joseph Lacher

the segment in those referencing Yes. In Brian comments, total.

Brian Meredith

profitable. you. Because already Got Specialty Commercial is

got I So you.

assumption your making And question the second of on that I'm loss kind Got you. that, type Okay. And what that then you. got on then -- curious, trend is just in double-digit you we're What's to assuming of a going statement. Are you we're to single that assuming seeing that down it Are right these your continue goes now? at levels digits? assumption?

James McKinney

can disclose there. There's have our we that than you We higher on So something we to we some assumptions more don't inflation level. standpoint comparable of other inside historical much still of more seeing kind what what is the norms. see that's been is give a recently some

that but digits things double from of the more low running about X%, think might be seeing on You of in commercial that a perspective, some we're area. kind kind may auto X% of

what other. mix a component would think take at we perspective look perspective, this is you into a there, coverage both that from be account state and does way Any it, the

we're is are so give net rate kind And what and going you come includes other to in. the of what It the answer. to trying elements earned

offsetting additional about to you we basically earned the that the outlined off think where the relates we in kind the of If actions as of coming improvement that think effectively sequential talked of of underwriting before, it about kind -- trend. about and normalized framework underlying, jumping rate some

underwriting for that to I point perspective. What just sequential because X.X inside you're time, materially aren't some at point in increase continue of a trend basis you'll to is, points going on get a maybe from suggest would adding the actions X -- -- there this

won't trend. they fully So offset

So got any advice, giving a there. little you maybe of you sort bit

appropriately think kind of be point, earning and basically premium that maybe about essentially kind of and that or should slower answer that. coming to where exceeding you kind up are outcome down trend baseline underwriting But those adjust you against to of make of actions earned a begins X then to little you from we a again, kind out improvement be difference to be, think that you're can faster, than going think additional relative change X.X effectively progress in, we'll the to then little would way begin and fall points to your

Brian Meredith

get just expected. of -- you. Got by my is underwriting to it's hotter you your getting going the than end to that missed have to point the you. is year, of Got That's I running to -- trying end that by profit if be was number you trend because of like thought the the

James McKinney

-- but We something be. should degree, unforeseen, went, would some it not we significant, not corresponding would guidance update to and be would it obviously as this be right, -- It be point throughout relative lower, that, little -- provided or X -- here. we're little the if that to we're year, talking comfortable a X higher, we're guidance the in about a we would

[indiscernible]. been So of profitability. the with with something thought thinking that's pretty again -- We're comfortable

Brian Meredith

get I it.

we've X get right? Yes, I nothing it. I get it. question surprising, So get -- second in I years, the So learned last it.

The second were than more you like for one, X.X%. know I it achieved of I'm just for and all looks curious, lot filed yours that. a actually approved a competitor California,

of to in Does was getting of it California? your you that with respect rethink rate think I make kind reconsider XX%. strategy -- north

Joseph Lacher

offer some in point. some set entire outlined We ways, strategy of going comments, that that answer because approved, was not making this time then rethink for X.X% let and filed sort it our tactics I'm haven't to too. X I'll of Matt you our ago. us at That's

filed roughly rate that's and . at programs, those since have in additional XX points. We for

X the us. is working up It with the and at those XX% state actively will think combines side it because and on a I the show roughly state

months what's being the filed aware aware what's in of past several and And of we're marketplace. that on working. We're moving. So we're going

let new. where comment not sort on it's I'll So we of Matt are.

Matthew Hunton

is this Matt. So

of a ongoing California thoughts the of our Department Just Insurance. couple quick with on conversations

So we have them. a great relationship with

flow conversation good a forth. and have We back

work the to as possible. work have, Hopefully, and through submit navigate we data, the we our as future. near experience our And get effective that current I we supports, filings, and right, confident we're them is through and that would thought one sometime them we forth, the add through the we back But Department. filings As expectation we'll as we'll California we'll in it what the filing. as the expeditiously in that is generally go file

Joseph Lacher

to Especially And you and and maybe -- I make moving. filing gives that that as not are things active. us not the been have general would larger this just confidence point They're dormant they're sitting productive the referenced comment us moving. an I industry, think, gives

Operator

from question Piper Paul is Newsome next Our Sandler. with

Jon Newsome

and wondering if imagine, And was your me please about would frequency. if little I a could you sort I'm would vary had you're there's wondering lot that how can I'm out way bit think all pretty just effect that beneficial that taking? I adjust talk of you're frequency, tease a seeing non-rate you any a the if you for depending can you -- about upon of significant -- of on frequency wrong, actions claim effects non-rate auto if correct that or the might

Joseph Lacher

you specialty taking maybe auto. start at Matt, Yes, shot a

to on some can biggest Duane, think I you And the place, color that's you that. Paul, it. add

Matthew Hunton

Yes.

So just on quick comments frequency.

of our seeing They're significant XX% as and sort on we're our of frequencies side, negative range. expected underwriting the a function PPA negative actions of basis, in pretty pricing in sort actions the the marketplace come-through. a on year-over-year As

Vehicle a that a our Commercial slight function we're seeing side, elevation, that's pushing mix through. but the On we're of also

frequency more space. range plus plus in plus on it's shift a as commercial segment X the towards , a that side preferred So on we X the

of in generally nothing and for out our again, expectations line so us. pattern And with is

James McKinney

the whole, returned point we And from the pockets the financial time, Paul, a about is or element question away frequency our certain at come statements prepandemic we severity the from story, down in to terms think, one we of down certainly, I in it take key had. that I we've outcome came And think you think but is that what a had perspective, from of continue -- see underwriting frequency that's factors an real up, when in know I we the before. as referenced through levels this

again, that. way And we're working through our

environment, the time. in think least positive this point at at thing the I is

trends the While might returning there's kind to where early are kind that still is increasing continue levels. moderating trend, pace direction. going, we of to normalized And more of have and that visibility in it to those

again, us, the hopefully it Something on then we'll a further normalization the of levels for about of with, to changes, now, to front here. continue of the continued make in, way you're we obviously, about react return and accelerated profitability the severity up to and environment traditional note target here accordingly. to that if take right earning frequency the significant taken business. have thinking an maintaining severity in But that trends, rate what we've And us environment or match gains are underwriting the appropriate kind to think enhancements

Jon Newsome

just That think makes a book, about rate. lot what just I the the and the change. of of a obviously environmental because mix I change of sort you're significantly was not versus better an the trying decline not or quality to was than pure -- to trying whether in primarily frequencies, that sense. book of improve put-through to

Joseph Lacher

and private or heard frequencies is working environmentally. you a spots, conversations think, passenger exactly there, wouldn't frequencies one auto, be XX%, other are to trying heard assume think you've under to you all environmental XX% XX% which be if decline I gave it XX% I think, you've Matt But to anywhere I an other in down Paul, I'm was the than about you suggestion careful issue not don't which. precise have that roughly when, something you? up add a

Jon Newsome

trying But guess. imagine would to would just That my I confirm. so. be

Joseph Lacher

a number. material very It's

Jon Newsome

question. good that's Indeed,

seeing the anything what in your that profit things are year. expectations Just kind about I people more where you're still you how guys? competitors that are your we're But environment that doing of of and are. sort versus on environment recently further from into guess just on basically same -- would any next works doing competitive an thoughts the you thinking

Joseph Lacher

with I'm sure responding I'll a comment of still they're make our bulk challenges. have still that and to dealing them overall, some and Specialty Paul. covers The all of PI recognizing profit business. cases, is In industry them. Sure, it they and Auto pretty the

. the We commercial equivalent of this a expect market while. will hard be a for

it's do this into make to We're other see be to point calculus -- our our don't that perspective factoring in to restore it. near restrict anything anything And wonky at that the not a not There's I focus. than competitive that driving profitability. not anything term, ability impedes the going on from would

Operator

question Kligerman from Andrew next Our with Credit is Suisse.

Andrew Kligerman

a I'd prices. more much Paul's permanent gas as drill thinking beating like Is talked that lower they that behaviors? The frequency down quarter, last about question frequency Progressive's just to is bit the little for at driving in down it is frequencies? for as potentially about on question Or potentially because operation. I'm reason you XX% and call a change

James McKinney

One, things. want couple about want to of internalization a of items. be careful I to our I think separate Progressive I So

or maybe book. we're terms of were referencing in impact between. to the confusion providing avoid our on in other total I sum elements they the think is that coverages just number The

up When you see down across, prepandemic you norms. from we periods see when in -- driving wouldn't that cases, the the different from it's we there's say in or, really don't at don't I -- about potentially material but we that, perspective think people a miles day driven a in look fact, many probably

comparing away. from if compare been apples-to-apples, I pandemic just trying that, think baseline a benefits or a as much largely I perspective have from you're think gone neutralized to with Associated -- on frequency the component,

from so think actually And perspective. normalized frequency of really you're a I at a environment kind

we've underwriting differences and have -- perspective, and mix enhance from from continue the a refine to outcomes we book. there potential both and actions frequency things to perspective from that And perspective so a our a other that segmentation the done

that how at we think those continue to way I enhance be us we're about think we're forward, is of that think to going always about them. looking the to of so that where these build this might least thinking elements. is about at think off this to to way we're and And We're kind moving and the

Andrew Kligerman

the And add about element Anything to that? gas prices, there?

Joseph Lacher

prices gas Look, the are there.

I big you out. echo the to and you that continue see you gradually book, to down I'll had frequency up to big, Then sort year-over-year a Then people start it, lockdowns. back think big movement pandemic of a prepandemic trying of depending as relative say, . relative on to Jim going what get moving frequency of level. had was your a

never, in of drop as to folks many levels much our We popped we prepandemic our with earlier. book, up saw saw back Auto And as focus. Specialty a

below report We level quarters has our to our have that for continued several prepandemic frequency is and declining. been

they think from prepandemic been most have returning as little saying I pattern different. a folks were they've what was you up a to would bit is see theirs that that so going that directionally level, been

because geographic of concentrations, us -- and Specialty not the for nature our of the the we're those watching exactly big was again, but Auto same bit that We're a pattern little issues. book

have X to prices looking the Yes, next some year if can year, gas quarter at elevated from you're to or X impact. they

if next are and shutdown from underwriting If I play elevated pieces forces at pandemic reopening bigger. and of prices months, are and say, less, but might are gas income people pressure safer. not driving -- prices that watching were would would I driven I for because I the might gas be we're higher, offset people you, like matching think it's if today, for a miles longer cause driven to X watching flat, are the that period see on because inflationary be the the disposable miles other the of drive and we time

to you're driven, driving see car If losses. still the they're still going miles

use is will that you're you're track individual I to Does issues company, to if When think and to be would forward to a that driven, trying find their different get a track miles you be help? process. and you a geographic give may gas an a good of or match thing mix? that prices thought that proxy as going that underwriting function

Andrew Kligerman

Yes, very helpful.

Operator

There questions. further are no

remarks. to call pass the I'll for closing over team the So management back

Joseph Lacher

the an Day One, on call joining excited X spend to today. that talk New a holding you, you York into X. businesses time Thank more We'll March our another everybody, you, some going leave for operator, We're get I'll and reminder. of quick thoughts. forward. let in about leaders be . opportunities thank with about our and Investor our you, with just final some just opportunity core bit little deeper Thursday,

fact you We're we enhancing of XX. the we bear had takeaways fruit lot on that and Slide will just work going And strategic So there. bullish will in back follow. where restoring profitability course reminder going really attendance of a hard to the about seeing executing our we the over the forward opportunities look forward target and company Details a XXXX. key initiatives our that on of to and into are

thank attention, you look to your and in talking and for to you March. we So forward time

Operator

for the you concludes your participation. conference That call. Thank

You may now disconnect your lines.

Kemper (KMPR) 2 Feb 232022 Q4 Earnings call transcript