INSURANCE

Kemper Corp. to Take 2nd-Quarter Charge: The Long Grove, Ill.-based asset management and insurance company said it will take a charge against quarterly earnings after accepting Orange County’s proposal to defer payment for one year on $198 million in taxable notes held by five of its money market funds. The bankrupt county received near-unanimous approval Friday from its noteholders to a one-year deferral on payments of $800 million in securities due in the next month. The county said it will be unable to repay the notes because voters rejected a proposal to increase the county’s sales tax. Kemper expects to take the charge to reflect the cost of a letter of credit it purchased from Bank of New York Co. to guarantee the repayment of the notes. Company executives did not specify the charge.