Kemper Sale of Lines to Securitas, et al, Scuttled

The Kemper Insurance Companies announced yesterday that the parties have discontinued negotiations toward a definitive agreement relating to a sale of certain lines of Kemper's existing business as contemplated by its previously announced letter of intent with Securitas Capital, LLC, Cypress Merchant Banking Partners II L.P. and Gilbert Global Partners L.P. On 3/5/02, simultaneously with the announcement by the company that it was posting a year-end 2002 net loss of $312 million, Kemper said it will cease underwriting activities except as necessary to meet our existing obligations. Kemper said...