The Hartford Financial Services Group has purchased renewal rights to a significant portion of the Kemper Insurance Companies group captives business.
“The Kemper captives are similar to The Hartford’s existing alternative risk offerings and will increase The Hartford’s share of this specialized market,” Greg Berg, head of alternative markets, The Hartford, commented.
David Mathis, Kemper chairman and CEO, noted, “This transaction is another in a series of steps Kemper is taking to become primarily a standard commercial lines insurance provider. While we’ve experienced success in our alternative risks business, it no longer fits with our strategy.”
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