World Library  
Flag as Inappropriate
Email this Article

Kemper Corporation

Article Id: WHEBN0014635043
Reproduction Date:

Title: Kemper Corporation  
Author: World Heritage Encyclopedia
Language: English
Subject: Follett Corporation, Brookdale Senior Living, Continental Materials Corporation, Equity Residential, Gardner Denver
Publisher: World Heritage Encyclopedia

Kemper Corporation

Kemper Corporation
Type Public
Traded as NYSE: KMPR
Industry Insurance and Consumer Finance
Founded 1990
Headquarters One East Wacker Drive
Chicago, Illinois, USA
Key people Donald G. Southwell, Chairman, President & CEO
Total assets Over $8 billion (2011)[1]
Employees 7,000+ (2011)

Kemper Corporation (formerly known as Unitrin) is one of America's major insurance and consumer finance providers. The group of companies specializes in property and casualty insurance, life and health insurance products for individuals, families, and small businesses.[2]


Historical logo

Unitrin, Inc. was founded in April 1990 when it was spun off from Henry Singleton's conglomerate Teledyne. Singleton hoped that the spin-off of Unitrin would duplicate the successful results of the Argonaut Group, originally a worker's compensation insurance provider, spun off in 1986. Argonaut's original $20 per share stock appreciated 240 percent by 1990.

Argonaut Group is now known as Argo Group International Holdings (NASDAQ: AGII). Singleton remained Chairman of Unitrin after it was spun off to shareholders at $31.25 per share, trading on NASDAQ. Unitrin divided its business into three major categories: life and health insurance; property and casualty insurance; and consumer finance, which covered a variety of services including automobile and industrial loans.

During the second part of 1994, Unitrin was targeted for a hostile takeover because of its increasing success. American General Corp., an insurance carrier headquartered in Houston, sent a $2.6 billion takeover bid. On June 26, Unitrin rejected the $50.38 per share offer and adopted a poison pill defense by initiating a stock buyback plan of ten million shares or 19% of its stock. American General then took Unitrin to court. A Delaware Chancery Court judge agreed and issued a restraining order against Unitrin's proposed stock buyback until September 27, 1994. Unitrin continued to resist the merger offer, and, on December 13, 1994, the Delaware Supreme Court overturned the lower court's injunction, allowing Unitrin to continue buying back its stock. (For details see Unitrin, Inc. v. American General Corp.) As 1994 ended, Unitrin's total revenues rose slightly to $1.37 billion, just over the previous year's $1.36 billion. However, Unitrin's net income rose from $95 million in 1993 to a shocking $148 million for 1994 fiscal year. As Unitrin entered its fifth year as an independent company, it continued buying back its stock to keep American General and, possibly, other suitors at bay. By the end of 1995, Unitrin had bought back 13.5 million shares at a cost of $661 million. Unitrin's poison pill defense worked: American General's takeover bid expired on February 7, 1995 and was not renewed.[3]

Eventually, Unitrin took the Kemper Corporation name. Starting August 25, 2011, Unitrin officially began operations as Kemper Corporation, with trading on the New York Stock Exchange under the KMPR ticker symbol.[4]

Kemper subsidiaries


Property and casualty insurance

  • Alpha Property & Casualty Insurance Company
  • Charter Indemnity Company
  • Financial Indemnity Company
  • Kemper Independence Insurance
  • Merastar Insurance Company
  • Mutual Savings Fire Insurance Company
  • National Merit Insurance Company
  • Response Insurance Company
  • Response Worldwide Direct Auto
  • Response Worldwide Insurance Company
  • Trinity Universal Insurance Company
  • Union National Fire Insurance Company
  • United Casualty Insurance Company of America
  • Unitrin Advantage Insurance Company
  • Unitrin Auto and Home Insurance Company
  • Unitrin Casualty Insurance Company of America
  • Unitrin Advantage Insurance Company
  • Unitrin Auto & Home Insurance Company
  • Kemper Direct
  • Unitrin Direct Property & Casualty Company
  • Unitrin Preferred Insurance Company
  • Unitrin Safeguard Insurance Company
  • Valley Property & Casualty Insurance Company
  • Warner Insurance Company

Life and health insurance

  • Mutual Savings Life Insurance Company
  • Reserve National Insurance Company
  • The Reliable Life Insurance Company
  • Union National Life Insurance Company
  • United Insurance Company of America

Affiliated insurance companies

  • Fireside Bank
  • Capitol County Mutual Fire Insurance Company
  • Old Reliable Casualty Company
  • Unitrin County Mutual Insurance Company


  1. ^ "Kemper Corporation". Retrieved 2011-08-31. 
  2. ^ "Kemper Corporation". Retrieved 2011-08-31. 
  3. ^ "Funding Universe - Unitrin Inc Company History". 1997. Retrieved 2007-12-09.  Funding Universe obtained this article from International Directory of Company Histories 16.  
  4. ^ "Unitrin Changes Name to Kemper". 2011. Retrieved 2011-08-31. 
  5. ^ "Kemper Corporation – Affiliated Companies". Retrieved 2011-08-31. 

External links

  • Kemper Corporation | Property, Casualty, Life, Health Insurance
  • Rights Agent for Wachovia Bank, National Association
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.