Kemper latest victim of US cat losses

New York-listed insurer Kemper Corporation has become the latest
carrier to surprise investors with higher-than-expected first
quarter cat losses as it warned major claims could cost as much as
$70mn for the period.
The figure was well above the expectations of JMP analyst Matt
Carletti who had forecast that the losses would be around $24mn.
In a statement last night, Kemper revealed that pre-tax cat payouts
for the quarter were likely to cost between $60mn and $70mn.
"The company does...