The Kemper Insurance Companies has reached an agreement to acquire the renewal rights to a portion of Reliance National’s book of business. The book primarily consists of large risk casualty accounts and construction wrap-ups typically underwritten on sophisticated risk management programs such as deductibles, captives, retrospective rating plans and various self-insured mechanisms.
The deal is effective immediately, and Kemper Casualty Co. will offer and underwrite renewal policies on Reliance National accounts through its insurance company affiliates. On Monday, Reliance and The Hartford announced an agreement for The Hartford to purchase Reliance’s D&O, E&S and Inland Marine books.
Whether the sales will have an effect on Leucadia National’s offer to purchase Reliance in a stock swap is yet to be seen.
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