Kemper Corporation (NYSE: KMPR) announced it has completed the sale of a property and casualty distribution operation consisting of captive agents and storefront locations to Confie, a company that specializes in operating storefront distribution models.
The transaction includes the sale of Newins Insurance Agency Holdings, LLC, which operates under the Illinois Vehicle, A-Abana, and Access Auto Insurance brands in a limited number of states. The operation was acquired by Kemper as part of the American Access Insurance Company transaction in 2021.
“This transaction is consistent with our focus on improving performance in our core operations,” said C. Thomas Evans, Jr., Interim CEO. “It allows us to further concentrate on our independent agent distribution channel for specialty auto and direct our resources toward areas where we see the greatest opportunity for long-term value. We have a strong relationship with Confie and believe they are well positioned to support the continued growth of the Newins operations.”
Employees associated with the business have transitioned to Confie as part of the transaction.
About Kemper
The Kemper family of companies is one of the nation’s leading specialized insurers. With approximately $12 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 Kemper Auto and Kemper Life brands. Kemper serves over 4.5 million policies, is represented by approximately 24,100 agents and brokers, and has approximately 7,400 associates dedicated to meeting the ever-changing needs of its customers. Learn more about Kemper at www.kemper.com.
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