Kemper filed its financial statements (LMC financial statement – AMM financial statement) for the first six months of 2004 on Monday, Aug. 16, noting sufficient losses.
The company posted a combined statutory surplus of $28.9 million. Of this amount, $18.6 million represents Lumbermens Mutual Casualty Company’s (LMC) surplus, with the $10.3 million balance posted by American Manufacturers Mutual Insurance Company (AMM). The combined six-month surplus is a decline of approximately $183.5 million from year-end 2003 surplus of $212.4 million.
On an operating basis, Kemper lost approximately $146 million in the first six months of the year.
Total assets for the organization stood at $4.3 billion, compared to $5.3 billion at the end of 2003.
Was this article valuable?
Here are more articles you may enjoy.
MMA Sues Former Specialty Marine Head Over Move to Howden US 
Lemonade Books Q3 Net Loss of $37.5 Million 
Update: Jamaica to Get Record $70.8M Parametric Payout for Hurricane Melissa 
Insurers Begin Restricting Privacy Coverage in Response to Evolving Risk 
