CHICAGO--(BUSINESS WIRE)--
Kemper
Corporation (NYSE: KMPR) announced today that its subsidiary,
Fireside Bank, completed the sale of $283 million of previously
charged-off loans in its non-active loan portfolio in a private
transaction on March 9, 2012. Including the net proceeds of this
transaction, remaining wind-down costs and existing capital, Fireside
Bank now expects to return at least $20 million, an increase of $5
million, to Kemper upon completion of its wind-down process, which
should be substantially completed by the end of the second quarter of
2012.
About Kemper
Kemper is a diversified insurance holding company with subsidiaries that
principally provide life, health, auto, homeowners, renters and other
insurance products to the individual and small business markets. Kemper
serves its customers through a network of independent agents, brokers
and career agents, as well as directly to consumers via direct mail,
web, employer-sponsored employee benefit programs and other affinity
relationships.
Additional information about Kemper is available by visiting kemper.com.
Caution Regarding Forward-Looking Statements
This press release may contain or incorporate by reference information
that includes or is based on forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements give
expectations or forecasts of future events, and can be identified by the
fact that they relate to future actions, performance or results rather
than strictly to historical or current facts.
Any or all forward-looking statements may turn out to be wrong, and,
accordingly, readers are cautioned not to place undue reliance on such
statements, which speak only as of the date of this press release.
Forward-looking statements involve a number of risks and uncertainties
that are difficult to predict, and are not guarantees of future
performance. Among the general factors that could cause actual results
to differ materially from estimated results are those listed in periodic
reports filed by Kemper with the Securities and Exchange Commission (the
"SEC"). No assurances can be given that the results contemplated in any
forward-looking statements will be achieved or will be achieved in any
particular timetable. Kemper assumes no obligation to publicly correct
or update any forward-looking statements as a result of events or
developments subsequent to the date of this press release. The reader is
advised, however, to consult any further disclosures Kemper makes on
related subjects in its filings with the SEC.
Kemper Corporation
Investors:
Diana Hickert-Hill, 312.661.4930
investor.relations@kemper.com
Source: Kemper Corporation