Kemper discloses $8mn adverse reserve development for Q4
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Kemper discloses $8mn adverse reserve development for Q4

Giovanna Bellotti Azevedo
January 26, 2023
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Auto insurer Kemper has disclosed $8mn of unfavorable prior year reserve development for Q4, primarily driven by an increase in third party loss settlement costs, reduced salvage values, and an increase in Florida PIP defense cost.

In a preliminary earnings release ahead of publishing its full results on February 2, Kemper disclosed estimated figures that reflect adverse pressure on reserves due in large part to accumulative legal costs throughout last year.

The

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Giovanna Bellotti Azevedo
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