Kemper Completes Acquisition of American Access
April 01 2021 - 10:14AM
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.”
About Kemper
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.
Learn more about Kemper.
Caution Regarding Forward-Looking Statements
This press release may contain or incorporate by reference
information that includes or is based on forward-looking statements
within the meaning of the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements give expectations or forecasts of future events and can
be identified by the fact that they relate to future actions,
performance or results rather than strictly to historical or
current facts.
Any or all forward-looking statements may turn out to be wrong,
and, accordingly, readers are cautioned not to place undue reliance
on such statements, which speak only as of the date of this press
release. Forward-looking statements involve a number of risks and
uncertainties that are difficult to predict and are not guarantees
of future performance. Among the general factors that could cause
actual results and financial condition to differ materially from
estimated results and financial condition are those factors listed
in periodic reports filed by Kemper with the Securities and
Exchange Commission (“SEC”). The COVID-19 outbreak and subsequent
global pandemic (“Pandemic”) is an extraordinary event that creates
unique uncertainties and risks. Kemper cannot provide any
assurances as to the impacts of the Pandemic and related economic
conditions on the Company’s operating and financial results.
No assurances can be given that the results and financial
condition contemplated in any forward-looking statements will be
achieved or will be achieved in any particular timetable. Kemper
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, including any such
statements related to the Pandemic. The reader is advised, however,
to consult any further disclosures Kemper makes on related subjects
in its filings with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20210401005574/en/
Investors: Christine Patrick, 312.661.4803, cpatrick@kemper.com
News Media: Barbara Ciesemier, 312.661.4521,
bciesemier@kemper.com
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