Joseph Lacher Wants You to Know that Specialized Insurance Makes Money for His Investors

May 22, 2019

Joseph Lacher has served as President and Chief Executive Officer of Kemper Corporation (NYSE:KMPR) since November 2015. He previously served in other senior executive roles in the insurance industry. From November 2009 to July 2011, Mr. Lacher was President of Allstate Protection, a unit of Allstate Corporation, where he led the company’s property and casualty offerings serving more than 17 million American households.

Prior to Allstate, Mr. Lacher spent 18 years at The Travelers Companies, Inc., most recently serving as Executive Vice President – Personal Insurance from 2002 to 2009 and additionally as Executive Vice President – Select Accounts from 2006 to 2009.

In this exclusive 2,434 word interview, Mr. Lacher explains he differentiates his insurance company and makes his investors happy:

“Kemper is the old Unitrin insurance operations. It was a child of the Teledyne Corporation back when Henry Singleton built the company and used insurance and the cash flows out of insurance to help build and fund his industrial conglomerate.

Eventually, Unitrin was spun off as a standalone company, one of a number of them that were spun off of Teledyne. Over time, Unitrin purchased the legacy Kemper, a preferred auto and home business, from Lumbermens Mutual, as Lumbermens was going out of business.

So most people think of Kemper and they know it’s a long and storied brand name, and think of that old Lumbermens Mutual business. We got a piece of that. Eventually, Lumbermens went out of business. We bought the Kemper name and rebranded ourselves accordingly. We still have the Kemper personal lines business inside of our franchise from that.

We’ve always been a portfolio of niche or specialized insurance businesses, and that’s what we are today. And I think it’s a nice portfolio of those specialized businesses.”

Get the complete pictures on this specialized insurance provider, directly from the CEO in this exclusive 2,434 word interview, only in the Wall Street Transcript.