Kemper Disappoints Workers, Agents Kemper Insurance Companies' latest woes–the breakdown of a deal to sell off its core business and laying off 1,000 workers–took some industry experts by surprise, leaving them to wonder what would be next for the beleaguered company.
On April 23, the Long Grove, Ill.-based company said its "letter of intent" to sell its core middle-market business had been abandoned.
The now-axed discussion involved Kemper's sale of renewal rights to its core business–including workers' compensation, auto and umbrella offerings–to a new firm capitalized by equity investment firms, including an affiliate of giant reinsurer Swiss Re.
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