A.M. Best Places Kemper Reinsurance Under Review With Developing Implications.

OLDWICK, N.J.--(BUSINESS WIRE)--Aug. 3, 1998--A.M. Best Co. today placed the "A" (Excellent) ratings of Kemper Kemper may refer to:

the city of Quimper, France, in the Breton language
James L. Kemper, a Confederate general in the American Civil War and a governor of Virginia
Kemper County, Mississippi.

Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Co., Long Grove Long Grove may refer to:

Long Grove, Illinois
Long Grove, Iowa

, Ill., and its London-based subsidiary, Kemper Re London, Ltd., under review with developing implications following the recent announcement by GE Global Insurance Holding Corp. that it has entered a definitive agreement to acquire Kemper Re.

GE Global is an intermediate holding company that also owns Employers Reinsurance Corp., one of the largest direct reinsurers in the world, as well as First Excess Reinsurance Corp., a broker market domestic reinsurer re·in·sure
tr.v. re·in·sured, re·in·sur·ing, re·in·sures
To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. with close to $350 million in net writings.

The under review status reflects the uncertainties and potential business disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. associated with the company's planned integration with GE Global's broker reinsurance operation, First Excess Reinsurance Corp. However, the acquisition will significantly elevate el·e·vate
tr.v. ele·vat·ed, ele·vat·ing, ele·vates
1. To move (something) to a higher place or position from a lower one; lift.

2. To increase the amplitude, intensity, or volume of.

3. GE Global's market ranking in the broker reinsurance community, as well as provide the group increased distribution opportunities, enhanced product offerings and geographical diversity.

The ratings will remain under review pending the close of the transaction and discussions with management regarding integration and future business plans. The acquisition is expected to close by the end of the third quarter and is subject to regulatory approvals.

A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com.


   CONTACT:  Jeffrey Dunsavage
              (908) 439-2200, ext. 5618
              dunsavj@ambest.com

COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.

Reader Opinion

Article Details
Printer friendly Cite/link Email Feedback
Publication:	Business Wire
Article Type:	Article
Geographic Code:	1USA
Date:	Aug 3, 1998
Words:	241
Previous Article:	Concrete Media Retains Media Investment Banking Firm The Jordan, Edmiston Group, to Assist in Developing Strategic Relationships.
Next Article:	Judge Overturns $70.6 Million Jury Award Against StorageTek in Patent Infringement Case.
Topics:	Reinsurance

Related Articles
A.M. Best places Sphere Drake under review with positive implications in light of planned acquisition.
A.M. Best Affirms Rating of Partner Re, Puts Winterthur U.S. Reinsurance Units Under Review.
Kemper Reinsurance & Units Placed on S&PWatch Positive.
A.M. Best Places Underwriters Reinsurance Group Under Review With Developing Implications.
A.M. Best Places Hannover Re, Clarendon Ratings Under Review On Announcement of Acquisition.
A.M. Best Puts Trenwick, Chartwell Under Review.
Best's Rating Changes. (Ratings).
A.M. Best Downgrades Rating of LaSalle Re Limited.
Best's Rating Changes. (Ratings).
Best's rating changes.