CHICAGO–(BUSINESS WIRE)–
Kemper Company (NYSE: KMPR) today announced the completion of the sale of National Reserve Insurance Company and its subsidiaries at Ohio Medical Mutual. Kemper previously announced on August 1, 2022 that he had agreed to sell Reserve National to Medical Mutual.
The transaction was completed following receipt of all required regulatory approvals and will result in Kemper receiving approximately $88 million cash counterpart for all assets in the national reserve.
“The closing of this transaction represents another significant milestone in the execution of our strategic initiatives,” said Joseph P.Lacher, Jr., Chairman, CEO and President of Kemper. “It allows us to focus more on our core capabilities where we have the greatest potential for success and deliver continued value to our stakeholders. We are very happy that the National Reserve Team is working with a strong partner to invest and grow the business.
About Kemper
The Kemper family of companies is one of the country’s leading specialty insurers. With about $13 billion assets, Kemper enhances the world of insurance by providing affordable, easy-to-use, customized solutions to individuals, families and businesses through its Auto, Personal insurance and the Life brands. Kemper manages more than six million policies, is represented by approximately 33,500 agents and brokers, and has approximately 10,100 associates dedicated to meeting the ever-changing needs of its customers. Learn more about Kemper.
src=”https://cts.businesswire.com/ct/CT?id=bwnewssty=20221201005970r1sid=acqr8distro=nxlang=en” style=”width:0;height:0″ />
Show source version on businesswire.com: https://www.businesswire.com/news/home/20221201005970/en/
Investors: Karen Guerra312.668.9720, [email protected]
Media: Barbara Ciesemier312.661.4521, [email protected]
Source: Kemper Company
