CHICAGO--(BUSINESS WIRE)--Kemper Corporation (NYSE: KMPR) announced today that it has closed its previously announced acquisition of American Access Casualty Company and its related captive insurance agency, Newins Insurance Agency Holdings, LLC, and its subsidiaries (collectively “AAC”). AAC provides specialty private passenger auto insurance in Arizona, Illinois, Indiana, Nevada and Texas.
Pursuant to the terms of the acquisition agreement dated November 22, 2020, the total cash transaction is valued at approximately $370 million.
“The close of this transaction marks further expansion of Kemper’s specialty auto franchise,” said Duane Sanders, President of Kemper’s P&C Division. “AAC provides increased reach and incremental scale with additional distribution channels and an expansion of our geographic footprint. We are excited to welcome the AAC team to Kemper, and look forward to advancing our focus on providing affordable and easy-to-use products and solutions to underserved markets.”
The Kemper family of companies is one of the nation’s leading specialized insurers. With $14.3 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Auto, Personal Insurance, Life and Health brands. Kemper serves over 6.2 million policies, is represented by more than 30,000 agents and brokers, and has 9,500 associates dedicated to meeting the ever-changing needs of its customers.
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