Kemper
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Kemper and Selective’s woes stem partly from own issues, but industry-level issues persist. -
The reserve strengthening stemmed from bodily injury and defense costs for accident years 2023 and prior.
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The executive’s exit follows CEO Joseph Lacher’s resignation last week.
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The selloff may hint at headwinds for equity investors.
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Joseph Lacher will step down as president and CEO and resign from the board.
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Insurance Insider US runs you through the earnings results for the day.
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The firm does not expect reserve developments for its auto operations in Q4.
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Kemper’s current results and historical trends suggest continued difficulty and remains a TBD story.
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As the market hardens, Kemper plans to “open the filters and see what comes through” as another quarter of rate earns in, CEO Joseph Lacher told analysts on Monday.
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The Inside P&C news team runs you through the earnings results for the day.
