Kemper Corporation (formerly known as Unitrin, Inc.) is one of America's premier insurance providers. The group of companies specializes in home, car, soul, and health insurance products for individuals, families and small businesses.
In 2002, Unitrin, spin off Teledyne in 1990, purchased an extension rights for homeowners and car insurance from Kemper Insurance, an old Chicago financial insurer and financial service that was experiencing financial difficulties. In 2010, Unitrin purchased all rights on behalf of Kemper, and a year later began operating as Kemper Corporation, trading on the New York Stock Exchange under the ticker symbol KMPR.
Video Kemper Corporation
Histori
Currently Kemper Corporation was originally established as Unitrin, Inc. in April 1990 when the new company was separated from the conglomerate Henry Singleton, Teledyne. Singleton hopes that his new venture will duplicate the spin off success of Argo Group, which was originally a worker's compensation insurance provider, created in 1986. The initial $ 20 per share Argonaut shares were priced at 240 percent in 1990.
Singleton remains Chairman of Unitrin after being distributed to shareholders at $ 31.25 per share, trading on NASDAQ. Unitrin divides its business into three main categories: life and health insurance; property and accident insurance; and consumer finance, covering a range of services including car loans and industry.
During the second part of 1994, Unitrin became the target of a cruel takeover. American General Corp., an insurance operator headquartered in Houston, sent a takeover bid of $ 2.6 billion. On June 26, Unitrin rejected the offer of $ 50.38 per share and adopted a toxicity pill defense by initiating a share repurchase plan of ten million shares or 19% of its shares. The American General then took Unitrin to court. The Delaware Chancery Court Judge agreed and issued a detention order against Unitin's Unitin redemption on September 27, 1994. Unitrin continued to reject the merger offer, and, on December 13, 1994, the Delaware Supreme Court overturned a lower court ruling, allowing Unitrin to continue purchasing back the stock. (For details see Unitrin, Inc. v. American General Corp. ) In 1994, Unitrin's total revenue rose slightly to $ 1.37 billion, slightly above $ 1.36 billion a year earlier. However, Unitrin's net income increased from $ 95 million in 1993 to a staggering $ 148 million for fiscal year 1994. When Unitrin entered the fifth year as an independent company, he continued to buy back his stock to keep the American General and, possibly, another applicant at bay. By the end of 1995, Unitrin had bought back 13.5 million shares at a cost of $ 661 million. Unitrin's poison defense pills succeeded: The US General's takeover bid expired on 7 February 1995 and was not updated.
In 2002, Unitrin purchased an extension rights for homeowners and Kemper Insurance auto insurance path, an old Chicago financial and insurance company that was experiencing financial difficulties. In 2010, Unitrin purchased all rights on behalf of Kemper, and began operating as Kemper Corporation on August 25, 2011, trading on the New York Stock Exchange under the ticker symbol KMPR.
Maps Kemper Corporation
Acquisition of Alliance United
In April 2015, Kemper acquired Alliance United Insurance Company, one of the fastest growing auto insurance providers in the State of California. Source:
Subsidiaries
Source:
Property and accident insurance
Life and health insurance
Affiliated Insurance Company
References
External links
- Kemper Corporation | Property, Victim, Life, Health Insurance
- Right Agent for Wachovia Bank, National Association
Source of the article : Wikipedia
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