Berkshire Hathaway Inc. plans to buy a portion of Kemper Insurance Companies’ business.
Berkshire will buy an undisclosed equity stake in the commercial casualty and specialty insurance business of privately held Kemper, through a new insurance subsidiary set up by Kemper. Berkshire will also reinsure some of Kemper’s business.
No terms of the deal were disclosed. Kemper earlier reported a $54.5 million after-tax profit in the first quarter, up from $19.4 million a year ago. It has annual revenues of about $5.9 billion.
The transaction must be met by appropriate regulatory approval.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Storage Shed Caused Nashville Parking Garage Fire, Travelers Says in $10M Subro Suit 
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
Stellantis Tells Owners of 1.3 Million Jeeps to Park Outside Over Fire Concerns 
Climate Change, Pollution Push Oceans to Tipping Point, UN Report Says 
