Kemper Corporation (NYSE:KMPR) Q3 2019 Earnings Conference Call Transcript

Nov 04, 2019 • 04:30 pm ET

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Kemper Corporation (NYSE:KMPR) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon ladies and gentlemen and welcome to Kemper's third quarter 2019 earnings conference call. My name is Chuck and I will be your coordinator today. [Operator Instruction] Later we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instruction]

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

Executive
Christine Patrick

Thank you Chuck. Good afternoon everyone and welcome to Kemper's discussion of our third quarter 2019 results. This afternoon you will hear from Joe Lacher Kemper's President and Chief Executive Officer Jim McKinney, Kemper's Executive Vice President and Chief Financial Officer and Duane Sanders Kemper's Executive Vice President and the Property & Casualty Division President. We will make a few opening remarks to provide context around our third quarter results and then we will open up the call for a question-and-answer session. During the interactive portion of the call our presenters will be joined by John Boschelli Kemper's Executive Vice President and Chief Investment Officer and Mark Green Kemper's Executive Vice President and Life & Health Division President. After the markets closed this afternoon we issued our earnings release and published our third quarter earnings presentation and financial supplement. In addition we filed our Form 10-Q with the SEC. You can find these documents on the Investors section of our website at kemper.com.

Our discussion today may contain forward-looking statements. Our actual results may differ materially from these statements. For information on potential risks associated with relying on forward-looking statements please refer to our 2018 Form 10-K as well as our third quarter 2019 Form 10-Q and earnings release. This afternoon's discussion also includes non-GAAP financial measures that we believe are meaningful to investors. One such measure that I would like to highlight again is as adjusted for acquisition. It is clearly important to understand our reported results including the impact the Infinity acquisition has to Kemper overall. However investors have also expressed an interest in understanding the underlying organic performance of the combined businesses. Since our as-reported financials don't include Infinity's historical information prior to the closing of the acquisition and our current results include the impact of purchase accounting the underlying trends are not easily visible.

In an effort to provide insight into the underlying performance of the combined businesses we also display our financials as adjusted for acquisition. This view removes the impact of purchase accounting and includes historical Infinity information for periods prior to the closing of acquisition to more easily provide a meaningful year-over-year comparison. In our financial supplement presentation and earnings release we have defined and reconciled all non-GAAP financial measures to GAAP where required in accordance with SEC rules. You can find these documents on the Investors section of our website at kemper.com. Finally all comparative references will be to the corresponding 2018 period unless otherwise stated.

I will now turn the call over to Joe.

Executive
Joe Lacher

Thank you Christine. Good afternoon everyone and thanks for joining