Kemper Estimates Net Losses from Sept. 11 Terrorist Attacks to be $60M-$80M

September 21, 2001

The Kemper Insurance Companies announced that it expects its pre-tax losses from the Tuesday, Sept. 11 terrorist attack to be $60 million to $80 million, net of reinsurance arrangements.

David B. Mathis, Kemper chairman and CEO, said Kemper is among the insurance industry’s most financially stable companies and will meet its obligations to policyholders with no difficulties. He also said that Kemper considers this terrorist act to be insurable and not part of language written into insurance policies that typically excludes exposures due to war.

“Our hearts and prayers go out to the victims and family members of the Sept. 11 tragedy, including many friends of ours in the insurance industry,” said Mathis. “We are all in a healing process and our efforts at Kemper are focused squarely on meeting our obligations and getting our policyholders affected by this senseless act back to business.”

The Kemper Insurance Companies is a provider of property/casualty insurance and risk management services with 2000 revenues totaling $4.8 billion and assets of $9.4 billion. Headquartered in Long Grove, Ill., Kemper operates nationwide and in many foreign markets.

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