Kemper sale might signal end of the road for insurer.(Business)

0 Comments | Daily Herald (Arlington Heights, IL), July, 2003 | by Comerford, Mike

Byline: Mike Comerford Daily Herald Business Writer ***** CORRECTION/date 07-25-2003: To correct a story in Wednesday's Business section, Lumbermens Mutual Casualty Co. is handling the contraction of Kemper Insurance Cos. ***** The Kemper cavalry is riding into the sunset. The once-famous symbol of the Long Grove-based Kemper Insurance Cos.

is fading as the insurer confirmed Tuesday it is selling its insurance services unit to Los Angeles-based Platinum Equity LLC for an undisclosed amount. The sale adds to what has been a dramatic and rapid decline of a major workman's compensation and property-casualty insurer. "The Kemper insurance we knew for the last 80 years or so was essentially finished when it said it was signing up no new insurance...