Kemper Corporation (NYSE: KMPR)
announced today its preliminary estimate for catastrophe losses from
severe storms in April and May 2014.
Kemper estimates its second quarter 2014 earnings will include pre-tax
catastrophe losses in the range of $40 million to $50 million for the
months of April and May 2014. The company does not expect to recover any
of these losses under its catastrophe reinsurance program.
While the losses were related to a number of storms, the greatest losses
were from a series of wind and hail storms between May 18 and May 23,
which heavily impacted the company’s policyholders in Montana,
Pennsylvania, Illinois, South Carolina and North Carolina.
About Kemper
Kemper is a diversified insurance holding company with subsidiaries that
provide an array of products to the individual and small business
markets:
Kemper markets to its customers through a network of independent agents,
brokers and career agents.
Additional information about Kemper is available by visiting kemper.com.
Caution Regarding Forward-Looking Statements
This press release may contain or incorporate by reference information
that includes or is based on forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements give
expectations or forecasts of future events, and can be identified by the
fact that they relate to future actions, performance or results rather
than strictly to historical or current facts.
Any or all forward-looking statements may turn out to be wrong, and,
accordingly, readers are cautioned not to place undue reliance on such
statements, which speak only as of the date of this press release.
Forward-looking statements involve a number of risks and uncertainties
that are difficult to predict, and are not guarantees of future
performance. Among the general factors that could cause actual results
and financial condition to differ materially from estimated results and
financial condition are those listed in periodic reports filed by Kemper
with the Securities and Exchange Commission (the “SEC”). No assurances
can be given that the results and financial condition contemplated in
any forward-looking statements will be achieved or will be achieved in
any particular timetable. Kemper assumes no obligation to publicly
correct or update any forward-looking statements as a result of events
or developments subsequent to the date of this press release. The reader
is advised, however, to consult any further disclosures Kemper makes on
related subjects in its filings with the SEC.
Copyright Business Wire 2014