Kemper is an American
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
provider with corporate headquarters located in
Chicago, Illinois
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. With nearly $15 billion in assets, the Kemper family of companies provide
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
to individuals, families, and businesses.
History
Kemper Corporation was originally founded as Unitrin, Inc. in April 1990, when it spun off from
Henry Singleton's conglomerate
Teledyne
Teledyne Technologies Incorporated is an American industrial conglomerate. It was founded in 1960, as Teledyne, Inc., by Henry Singleton and George Kozmetsky.
From August 1996 to November 1999, Teledyne existed as part of the conglomerate Al ...
.
Singleton
Singleton may refer to:
Sciences, technology Mathematics
* Singleton (mathematics), a set with exactly one element
* Singleton field, used in conformal field theory Computing
* Singleton pattern, a design pattern that allows only one instance o ...
expected the new venture to duplicate the successful spin off of the Argo Group, originally a
workers’ compensation
Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her emp ...
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
provider, created in 1986. Argonaut's original $20 per share stock appreciated 240 percent by 1990.
Singleton
Singleton may refer to:
Sciences, technology Mathematics
* Singleton (mathematics), a set with exactly one element
* Singleton field, used in conformal field theory Computing
* Singleton pattern, a design pattern that allows only one instance o ...
remained
Chairman
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
of Unitrin after it was spun off to shareholders at $31.25 per share, trading on
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
. Unitrin divided its business into three major categories: life and health
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
, property and casualty
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
, and consumer finance, which covered a variety of services including automobile and industrial loans.
In 2002, Unitrin purchased the renewal rights for the homeowners and automobile
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
lines of Kemper Insurance, a long-time
Chicago
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insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
and financial services firm.
In 2010, Unitrin purchased all rights to the Kemper name, and began operations as Kemper Corporation on August 25, 2011, with trading on the
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...
under the KMPR ticker symbol.
In November 2015, Joseph P. Lacher, Jr. was appointed
President
President most commonly refers to:
*President (corporate title)
*President (education), a leader of a college or university
*President (government title)
President may also refer to:
Automobiles
* Nissan President, a 1966–2010 Japanese ful ...
and
Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
.
The company unified and refreshed its brand in October 2018.
Fortune Magazine
''Fortune'' is an American multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The ...
included Kemper on its 2020 list of the 100 Fastest-Growing Companies.
In May 2020, Joseph P. Lacher, Jr. was elected
Chairman of the Board
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
, in addition to his role as
President
President most commonly refers to:
*President (corporate title)
*President (education), a leader of a college or university
*President (government title)
President may also refer to:
Automobiles
* Nissan President, a 1966–2010 Japanese ful ...
and
Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
.
On November 23, 2020, the company announced it had entered into a definitive agreement to acquire American Access Casualty Company and its related captive
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
agency, Newins Insurance Agency Holdings, LLC, and its subsidiaries (collectively “AAC”), in a cash transaction valued at $370 million. On April 1, 2021, the company announced it had completed the acquisition of AAC. AAC provided specialty private passenger auto
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
in
Arizona
Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a state in the Southwestern United States. It is the 6th largest and the 14th most populous of the 50 states. Its capital and largest city is Phoenix. Arizona is part of the Fou ...
,
Illinois
Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...
,
Indiana
Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th s ...
,
Nevada
Nevada ( ; ) is a U.S. state, state in the Western United States, Western region of the United States. It is bordered by Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. N ...
and
Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...
.
The
Kemper Open
The Kemper Open was a golf tournament on the PGA Tour from 1968 to 2006.
Perhaps more so than any other "regular" PGA Tour stop, the event wandered about, not just from course to course within a given metropolitan area, but along the East Coast ...
was a professional
golf
Golf is a club-and-ball sport in which players use various clubs to hit balls into a series of holes on a course in as few strokes as possible.
Golf, unlike most ball games, cannot and does not use a standardized playing area, and coping wi ...
tournament on the
PGA Tour
The PGA Tour (stylized in all capital letters as PGA TOUR by its officials) is the organizer of professional golf tours in the United States and North America. It organizes most of the events on the flagship annual series of tournaments also k ...
for 35 years, from
1968
The year was highlighted by protests and other unrests that occurred worldwide.
Events January–February
* January 5 – "Prague Spring": Alexander Dubček is chosen as leader of the Communist Party of Czechoslovakia.
* Januar ...
through
2002
File:2002 Events Collage.png, From left, clockwise: The 2002 Winter Olympics are held in Salt Lake City; Queen Elizabeth The Queen Mother and her daughter Princess Margaret, Countess of Snowdon die; East Timor gains East Timor independence, indepe ...
.
Acquisitions
In April 2015, Kemper acquired Alliance United Insurance Company, one of the fastest growing auto insurance providers in the
State of California
California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...
. Source:
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.
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.
Subsidiaries
Kemper Property & Casualty
Kemper’s Property & Casualty Insurance segment includes the following businesses:
* Kemper Auto is a national provider of auto insurance with a concentration on non-standard auto insurance
* Infinity, a Kemper Company is a provider of non-standard auto insurance for drivers in the State of California only
* Kemper Personal Insurance provides both home and auto insurance to the company’s preferred/standard book of business
Property & Casualty Insurance Companies
* Alpha Property & Casualty Insurance Company
* Alliance United Insurance Company
* Charter Indemnity Company
* Financial Indemnity Company
* Infinity Insurance Company
* Infinity Auto Insurance Company
* Infinity Assurance Insurance Company
* Infinity Casualty Insurance Company
* Infinity County Mutual Insurance Company
* Infinity Indemnity Insurance Company
* Infinity Preferred Insurance Company
* Infinity Safeguard Insurance Company
* Infinity Select Insurance Company
* Infinity Standard Insurance Company
* Infinity Security Insurance Company
* Kemper Financial Indemnity Company
* Kemper Independence Insurance
* Merastar Insurance Company
* Mutual Savings Fire Insurance Company
* Response Insurance Company
* Response Worldwide Direct Auto Insurance Company
* Response Worldwide Insurance Company
* Trinity Universal Insurance Company
* Unitrin Advantage Insurance Company
* Unitrin Auto and Home Insurance Company
* Unitrin Direct Insurance Company
* Unitrin Direct Property & Casualty Company
* Unitrin Preferred Insurance Company
* Unitrin Safeguard Insurance Company
* Valley Property & Casualty Insurance Company
* Warner Insurance Company
Kemper Life & Kemper Health
Kemper’s Life & Health insurance segment is made up of the following businesses:
* Kemper Life
* Kemper Health
* Kemper’s Reserve National business offers hospital, surgical, accident, supplemental, specified disease, and life insurance plans.
Life & Health Insurance Companies
* Mutual Savings Fire Insurance Company
* Mutual Savings Life Insurance Company
* Reserve National Insurance Company
* The Reliable Life Insurance Company
* Union National Life Insurance Companresearch department
* United Insurance Company of America
* United Casualty Insurance Company of America
* Union National Fire Insurance Company
Other Affiliated Insurance Companies
* Capitol County Mutual Fire Insurance Company
* Old Reliable Casualty Company
* Unitrin County Mutual Insurance Company
References
{{Authority control
Companies based in Chicago
Financial services companies established in 1990
Companies formerly listed on the Nasdaq
Companies listed on the New York Stock Exchange
Insurance companies of the United States
Insurance companies based in Illinois