 | |
| Company type | Public |
|---|---|
| NYSE: KMPR S&P 400 Component | |
| Industry | Insurance |
| Founded | 1990; 35 years ago (1990) |
| Headquarters | 200 East Randolph Street Chicago,Illinois, US |
Key people | Joseph P. Lacher, Jr. (president,CEO) |
| Revenue |  US$5,206 million (2020)[1] |
| US$510.1 million (2020)[1] | |
| US$409.9 million (2020)[1] | |
| Total assets | US$14,342 million (2020)[2] |
Number of employees | 10,000 (2021)[1] |
Kemper Corporation is an Americaninsurance provider with corporate headquarters located inChicago,Illinois. With nearly $13 billion in assets, the Kemper family of companies providesinsurance to individuals, families, and businesses.[3]
Kemper Corporation was originally founded as Unitrin, Inc. in April 1990, when it spun off fromHenry Singleton's conglomerateTeledyne.Singleton expected the new venture to duplicate the successful spin off of the Argo Group, originally aworkers’ compensationinsurance provider, created in 1986. Argonaut's original $20 per share stock appreciated 240 percent by 1990.[3]Singleton remainedChairman of Unitrin after it was spun off to shareholders at $31.25 per share, trading onNASDAQ. Unitrin divided its business into three major categories: life and healthinsurance, property and casualtyinsurance, and consumer finance, which covered a variety of services including automobile and industrial loans.[3]
In 2002, Unitrin purchased the renewal rights for the homeowners and automobileinsurance lines of Kemper Insurance, a long-timeChicagoinsurance and financial services firm.[4][5][6]
In 2010, Unitrin purchased all rights to the Kemper name, and began operations as Kemper Corporation on August 25, 2011, with trading on theNew York Stock Exchange under the KMPR ticker symbol.[7]
In November 2015, Joseph P. Lacher, Jr. was appointedPresident andChief Executive Officer.
The company unified and refreshed its brand in October 2018.[8]
Fortune Magazine included Kemper on its 2020 list of the 100 fastest-growing companies.[9]
On November 23, 2020, the company announced it had entered into a definitive agreement to acquire American Access Casualty Company and its related captiveinsurance agency, Newins Insurance Agency Holdings, LLC, and its subsidiaries (collectively “AAC”), in a cash transaction valued at $370 million.[10] On April 1, 2021, the company announced it had completed the acquisition of AAC.[11] AAC provided specialty private passenger autoinsurance inArizona,Illinois,Indiana,Nevada andTexas.
TheKemper Open was a professionalgolf tournament on thePGA Tour for 35 years, from1968 through2002.[12][13]
In April 2015, Kemper acquired Alliance United Insurance Company, one of the fastest growing auto insurance providers in theState of California. Source:[14]
In July 2018, Kemper acquired Infinity Property and Casualty Corporation (NASDAQ: IPCC), an auto insurance provider focused on serving the specialty, nonstandard segment, in a cash and stock transaction valued at approximately $1.4 billion.[15]
In April 2021, Kemper completed the acquisition of Downers Grove, Illinois based American Access Casualty Company. American Access Casualty Company specializes in automobile insurance directed towards the Hispanic community.[16]
Kemper’s Property & Casualty Insurance segment includes the following businesses:
Kemper’s Life & Health insurance segment is made up of the following businesses: