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.
Progressive Boosts Exposure With Football Field Logos at 13 Universities 
General Contractor Found Not Liable for Subcontractor Employee’s Injury 
11 New Firms Join Insurance Journal’s Top 100 Independent Agencies 
USI Sues 3 Former Producers After They Allegedly Moved Clients to Howden US 
