Fitch Downgrades 3 Kemper Underwriters

Fitch Ratings has downgraded the insurer financial strength ratings of three primary insurance underwriters of the Kemper Insurance Companies (KIC) to 'B+' from 'BBB'. Additionally, Fitch has downgraded the surplus notes issued by group member Lumbermens Mutual Casualty Company (Lumbermens) to 'CCC' from 'BB-'. All ratings remain on Rating Watch Negative. Today's rating actions reflect Fitch's concerns regarding the prospective financial condition of KIC. Included in these concerns is the increasing likelihood that future interest payments on Lumbermen's surplus notes may not be made a...