The Kemper Insurance Companies announced it has reached an agreement in principle to sell the renewal rights to its surety business to Arch Insurance Group, a division of Arch Capital Group Ltd.
Kemper’s agreement with Arch includes contract and specialty surety products written through Kemper’s Surety division, including Lou Jones & Associates.
“This transaction continues Kemper’s efforts to become primarily a standard commercial lines insurance provider,” David Mathis, Kemper chairman and CEO, remarked. “Kemper Surety accounts were not included in the previously announced cut-through arrangement with Berkshire Hathaway subsidiary National Indemnity Company.”
To provide continuity, the transaction also includes some Kemper Surety staff and certain assets used in the business.
Was this article valuable?
Here are more articles you may enjoy.
Stryker Remains Offline After Cyberattack Linked to Iran Group 
Chubb to Serve as Lead US Insurer for Gulf Shipping Amid Iran War 
Miami Developer Indicted in Alleged $85M Fraud Scheme 
Insurify’s Founders Discuss Evolution of Insurance Shopping With AI 
