Kemper Corporation announced today its preliminary estimate for catastrophe losses from severe storms in April and May 2014.
Kemper estimates its second quarter 2014 earnings will include pre-tax catastrophe losses in the range of $40 million to $50 million for the months of April and May 2014. The company does not expect to recover any of these losses under its catastrophe reinsurance program.
While the losses were related to a number of storms, the greatest losses were from a series of wind and hail storms between May 18 and May 23, which heavily impacted the company’s policyholders in Montana, Pennsylvania, Illinois, South Carolina and North Carolina.
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