National MI vs Kemper

National MI and Kemper are compared here to provide a neutral overview of their business models, financial performance, and market context. The page presents objective information to help readers understand how each organisation operates and positions itself within the market. Educational content, not financial advice.

Comparison Snapshot

Key Financial Metrics

NMIH

Metric

KMPR

$2.90B

Market Cap

$2.25B

16.37%

Potential Profit

50.12%

Buy

Analyst Rating

Buy

Investment Analysis

National MI

NMIH

Pros

NMI Holdings has demonstrated strong recent earnings growth, with net income rising significantly year-on-year in 2025.
The company maintains a robust balance sheet, with PMIERs available assets well above required levels, supporting financial stability.
NMI Holdings benefits from a diversified customer base and a high-quality insured portfolio, contributing to sustained performance.

Considerations

The business is highly sensitive to US housing market cycles, exposing it to potential downturns in mortgage origination volumes.
NMI Holdings operates in a competitive private mortgage insurance sector, facing pressure from larger peers and pricing dynamics.
The company does not currently pay a dividend, limiting income appeal for some investors.

Kemper

KMPR

Pros

Kemper has a diversified insurance portfolio spanning property and casualty, life, and health, reducing reliance on any single segment.
The company has made progress in improving underwriting profitability and expense management in recent periods.
Kemper maintains a solid balance sheet with adequate liquidity to support ongoing operations and potential growth initiatives.

Considerations

Kemper's property and casualty segment remains exposed to elevated catastrophe losses, particularly from severe weather events.
The company has faced challenges in maintaining consistent growth in premiums and profitability across all business lines.
Kemper's stock has experienced volatility due to regulatory scrutiny and competitive pressures in certain insurance markets.

About The Companies

National MI (NMIH)

NMI Holdings, Inc (NMIH) is a US-based private mortgage insurer that protects lenders against borrower defaults on conventional mortgage loans. With a market capitalisation of roughly $2.84 billion, NMI earns premiums, manages claims and holds reserves to cover potential losses; its profitability is closely tied to mortgage originations, home-price trends and broader economic conditions. Investors should watch underwriting performance, reserve adequacy, reinsurance contracts and regulatory capital requirements, as these influence both earnings and balance-sheet strength. The stock offers exposure to the housing finance ecosystem but can be cyclical: rising interest rates, falling house prices or higher unemployment can increase claims and pressure results. This summary is for educational purposes only and not personalised investment advice. Consider your objectives and risk tolerance and seek professional advice before investing.

Kemper (KMPR)

Kemper Corporation is a diversified insurance holding company based in the United States. Through its subsidiaries, it operates in both the property and casualty and the life insurance markets. The company provides a range of insurance solutions for individuals, families, and businesses under its Kemper Auto and Kemper Life brands. Its business is structured into two main segments: Speciality Property & Casualty Insurance, which focuses on automobile cover distributed through independent agents, and Life Insurance, offering individual life, accident, and supplemental health policies. By operating across these different areas of insurance, Kemper aims to meet a variety of customer needs. Investors might find its focus on the domestic US market and its diversified business model key aspects to consider when looking at the company. As with any investment, it's important to remember that market conditions can change, and past performance is not a guarantee of future returns.

Which Baskets Do They Appear In?

The Great Mortgage Privatization

The planned IPOs for mortgage giants Fannie Mae and Freddie Mac signal a historic shift toward privatization in the U.S. housing market. This move stands to benefit not only the investment banks managing the deal but also a wider ecosystem of mortgage lenders and insurers.

Published: August 11, 2025

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Which Baskets Do They Appear In?

The Great Mortgage Privatization

Published: August 11, 2025

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National MI vs Kemper

Comparison Snapshot