Kemper's financial issues continue to haunt the company as A.M. Best Co. yesterday announced it has lowered the financial strength rating to B (Fair) from B+ (Very Good) of the participants in the Kemper Insurance Companies (Long Grove, IL) inter-company pool, 10 reinsured affiliates and one domestic affiliate. The rating remains under review with negative implications.
Additionally, A.M. Best has lowered the debt rating of the surplus notes to "ccc+" from "bb-" issued by Lumbermens Mutual Casualty Company, the lead member of the inter-company pool and group.
Separately, the financial ...
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