Kemper shares dive nearly 13% after inflationary pressures weigh on results
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Kemper shares dive nearly 13% after inflationary pressures weigh on results

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Shares in auto specialty underwriter Kemper tumbled by nearly 13% by mid-day trading Tuesday, after the company reported its third consecutive major underwriting loss and signaled to investors that it would take time for approved rate increases to catch up to spiking claims severity trends.

The Chicago-based company’s stock fell by 12.75% or $7.65 per share in early trading, to $52.33, the morning after the insurer reported a $257mn fourth-quarter underwriting loss, that was bigger than the $215mn and $157mn underwriting losses it had...

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