Kemper Surplus Drops Nearly $184 Million in First Half

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.