Kemper sees Q4 catastrophe losses from Hurricane Sandy approximately $45M Kemper announced its estimate of catastrophe losses from Superstorm Sandy. The company expects fourth quarter earnings will include approximately $45M in pre-tax catastrophe losses related to the storm. The company does not anticipate any recoveries under its catastrophe reinsurance program.
Capitala Finance forms joint venture with Kemper subsidiary Capitala Finance (CPTA) announced that it has formed a joint venture with Trinity Universal Insurance Company, a subsidiary of Kemper (KMPR), to create Capitala Senior Liquid Loan Fund I, or CSLLF. The joint venture is expected to invest primarily in senior secured loans to middle market companies. Capitala and Trinity have committed to provide $25M of equity to the joint venture, with Capitala providing $20M and Trinity providing $5M. In addition, CSLLF has obtained third party asset-level financing. Capitala and Trinity expect to begin funding the portfolio with new investments during the Q2.