Beleaguered Kemper To Cease Underwriting Amid its disappointing 2002 year-end results, Kemper Insurance Companies announced that it will cease underwriting activities and sell its core middle-market business to a new firm capitalized by equity investment firms, including an affiliate of giant reinsurer Swiss Re.
The Long Grove, Ill.-based insurer said it will cease underwriting activities except as necessary to meet its existing obligations. Going forward, Kemper will focus on expanding opportunities for its claim and insurance services platform to sell its capabilities to current and new customers, the company said.
Under its deal with New York-based Securitas Capital LLC, an affiliate of Swiss Re, and others, in exchange for renewal rights to Kemper's middle-market p-c business and some other lines, Kemper will receive commissions on the renewals and other unspecified financial benefits. Kemper will also receive $9 million plus statutory surplus for certain licensed insurance entities.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
