This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Unitrin, Inc. Announces April Catastrophe Loss Estimate

Unitrin, Inc. (NYSE: UTR) today announced its preliminary estimate of catastrophe losses due to several, severe tornados and other storms during the month of April. The Company estimates second quarter results will include between $65 million and $75 million in pre-tax catastrophe losses related to the April storm activity. Amounts recoverable through reinsurance are estimated to be immaterial.

Customers across more than a dozen states were impacted, with those in North Carolina, South Carolina, Texas and Alabama suffering the largest losses. Unitrin’s catastrophe teams have been on the ground since the storms began, working to provide funds for emergency living expenses and to expedite claims processing. Total claims are estimated to reach approximately 12,000.

Unitrin is a diversified insurance holding company. Its operating subsidiaries principally provide life, auto, homeowners and other insurance products for individuals, families and small businesses.

Unitrin’s principal businesses are:

  • Kemper ®, which provides auto, homeowners and other insurance products to individuals through a network of independent agents,
  • Unitrin Direct, which markets auto, homeowners and renters insurance to consumers via direct mail, the Internet and employer-sponsored employee benefit programs and other affinity relationships,
  • Unitrin Specialty, which provides auto insurance through a network of independent agents and brokers to individuals and small businesses which have had difficulty procuring insurance through traditional channels, usually due to adverse driving records or claim or credit histories, and
  • Life and Health Insurance, which specializes in the sale of life and health insurance products to individuals through networks of employee agents and exclusive, independent agents.

Forward-Looking Statements:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events or outcomes and can be identified by the fact that they do not relate strictly to historical or current facts. These statements are based on our estimates and assumptions that involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance; actual results could differ materially from those expressed or implied in the forward-looking statements, and can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. No assurances can be given that the results contemplated in any forward-looking statements will be achieved. Accordingly, readers are cautioned not to place undue reliance on such statements, which speak only as of the date of this release. The Company 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 Unitrin makes on related subjects in its filings with the SEC, as well as risk factors and other information included in the Company’s most recent Form 10-K and 10-Q reports.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,040.37 +29.69 0.16%
S&P 500 2,111.73 +4.34 0.21%
NASDAQ 5,082.9290 +12.9030 0.25%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs