Fitch Downgrades At. Mut. and Kemper

Fitch has downgraded the insurer financial strength (IFS) ratings of the Atlantic Mutual Companies (AMC) from `A' to `A-', and of the Kemper Insurance Companies (KIC), lead by Lumbermens Mutual Casualty Co. (Lumbermens), from `A' to `A-', and has also placed the ratings on Rating Watch Negative.Atlantic Mutual The downgrade of AMC reflects the decline in operating earnings and surplus that have resulted from adverse loss reserve development, continued high expense ratios and losses on discontinued books of business. Additionally, the quality of AMC's earnings has also deteriorated as realiz...