Our Kemper home service company’s flagship entity, United States Insurance Company of America was recognized as one of the top 50 performing life insurance companies by the Ward Group, a leading provider of benchmarking and best practice services for the insurance industry. This was the second consecutive year that our life business was recognized. On the supplemental health side, I am pleased with our reserved national team's performance as it continues its mix shift to products less affected by National Healthcare Reform.
The investment portfolio delivered a solid performance as we navigate this low interest rate environment. While returns on our equity method investments were lower than last year’s superior results they were within our range of expectations. Despite the inherent volatility we like the expected life time performance of these assets. As to capital we are in a strong position, we continue to be disciplined as we allocate capital across our four priorities which include funding profitable organic growth, considering acquisitions that have a clear fit and make our existing businesses stronger. Maintaining our competitive dividend and repurchasing shares.
On this fourth point, we have repurchased just over $50 million of stock year-to-date through July which is good progress on our plan to repurchase up to 100 million in 2012. I want to be very clear about my views of the quarter. In life and health, investments and capital management we delivered solid results. On the P&C side results were disappointing, our priorities for P&C are the following. Improve margins before growth, increased home owners profitability, achieve overall rate adequacy and continue to leverage our shared services to maximize operational effectiveness.
And now I will turn the call over to Jim to provide color on the quarter’s results and explain how his team is addressing these priorities.Read the rest of this transcript for free on seekingalpha.com
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