Kemper Corporation completed the acquisition of American Access Casualty Company and Newins Insurance Agency Holdings, LLC from American Access Group, LLC.
April 01, 2021
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Kemper Corporation (NYSE:KMPR) entered into a definitive agreement to acquire American Access Casualty Company and Newins Insurance Agency Holdings, LLC from American Access Group, LLC for approximately $370 million on November 22, 2020. American Access Casualty Company and Newins Insurance Agency Holdings, LLC to join the Kemper team. The transaction is subject to regulatory approval and other customary closing conditions. As of January 15, 2021, FTC granted the early termination notice. The transaction is expected to close in the first quarter of 2021. The transaction is expected to be accretive to Kemper’s earnings per share and return on tangible common equity in the first year, excluding value of business acquired and one-time items, and result in high single-digit EPS accretion in the second year, excluding restructuring and one-time items. Sean M. Keyvan, Michael P. Goldman, Stephanie H. Dobecki, Tracy D. Williams, Peter D. Edgerton, Matthew E. Johnson, Gregory A. Marrs, Stephen M. Fronk, Ash Nagdev, Anthony J. Aiello, Erin Felchner, Elizabeth Chen, James D. Weiss, and Heather M. Palmer of Sidley Austin LLP acted as legal advisor to Kemper. Piper Sandler & Co acted as financial advisor to American Access Casualty Company and Newins Insurance Agency Holdings, LLC and Neely B. Agin, Matthew F. Bergmann, Robert B. Heller, and Jennifer Stadler of Winston & Strawn LLP acted as legal advisors to American Access Casualty Company and Newins Insurance Agency Holdings, LLC.
Kemper Corporation (NYSE:KMPR) completed the acquisition of American Access Casualty Company and Newins Insurance Agency Holdings, LLC from American Access Group, LLC on April 1, 2021.
Kemper Corporation is a diversified insurance holding company. The Company is engaged, through its subsidiaries, in the property and casualty insurance and life insurance businesses. It is engaged in providing personalized solutions to individuals, families, and businesses through its Kemper Auto and Kemper Life brands. The Company conducts its operations through two operating segments: Specialty Property & Casualty Insurance, and Life Insurance. The Specialty Property & Casualty Insurance segment include specialty automobile and commercial automobile insurance to consumers. These products are distributed primarily through independent agents and brokers. The Specialty Property & Casualty Insurance segment, based in Chicago, Illinois, conducts business in 31 states under the Kemper Auto brand. The Life Insurance segment offers individual life, accident, supplemental health and property insurance. The Company conducts its operations solely in the United States.
Kemper Corporation completed the acquisition of American Access Casualty Company and Newins Insurance Agency Holdings, LLC from American Access Group, LLC.