This is expected to enable the redeployment of capital to Kemper Corp.'s core segments. The ratings of Kemper L&H reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile, appropriate ERM, and consideration of the group's affiliation with lead rating unit, Kemper P&C. In 2022, Kemper L&H announced that it was entering into an agreement with Kemper Bermuda to cede 80% of its life business to its offshore affiliate. This has resulted in increased risk-adjusted capitalization metrics for the statutory Kemper L&H group and the release of roughly $300 million in dividends to the parent company, Kemper Corp., during the third quarter of 2022. However, AM Best also considers the consolidated risk-adjusted capitalization of the two entities to ensure Kemper L&H's economic overall balance sheet strength remains appropriately assessed.