Kemper Corp. has announced its intent to establish a reciprocal exchange for its nonstandard auto business. Additionally, Kemper has announced the potential divestiture or other strategic alternatives for Kemper Personal Insurance, its preferred home and auto business. As a result, we are placing our ratings on Kemper Corp. and its operating entities on CreditWatch with negative implications due to the potential weakening of their competitive strength and execution risk associated with the strategic initiatives. To resolve the CreditWatch, we expect to reevaluate the credit profile of Kemper once we have additional information from management on the future business mix and financial structure. On Nov. 8, 2022, S&P Global Ratings placed its issuer credit and financial strength ratings on Kemper Corp.
