Kemper Corp. has closed its previously announced acquisition of Downers Grove, Illinois-based American Access Casualty Co. and its related captive insurance agency, Newins Insurance Agency Holdings LLC, and its subsidiaries (collectively AAC).
AAC provides specialty private passenger auto insurance in Arizona, Illinois, Indiana, Nevada and Texas.
Pursuant to the terms of the acquisition agreement dated Nov. 22, 2020, the total cash transaction is valued at approximately $370 million.
AAC’s multi-channel distribution strategy, agency relationships, and deep ties to the markets it serves — particularly Hispanic communities — have driven strong growth and consistent profitability, according to Kemper’s November 2020 announcement.
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