Unitrin Insurance Completes Acquisition of Direct Response for $200M

Trinity Universal Insurance Co., a Unitrin, Inc. subsidiary, has completed its previously announced acquisition of Direct Response Corp. and its subsidiaries in a cash transaction valued at approximately $200 million.

Direct Response is based in Meriden, Connecticut and specializes in the sale of personal automobile insurance directly to consumers under both the Response Insurance and Teachers Insurance Plan brand names. For the year ended Dec. 31, 2008, Direct Response recorded direct written premiums of approximately $156 million.

Donald G. Southwell, Unitrin’s Chief Executive Officer, said the acquisition underscores his firm’s commitment to the direct to consumer personal lines distribution channel.

Direct Response will continue to market its products under the Response Insurance and Teachers Insurance Plan brand names and will be reported as part of the Unitrin Direct business segment.

Among the brands in Unitrin’s Property and Casualty Insurance businesses are Kemper and Unitrin Specialty, which sell personal and commercial insurance through networks of independent agents, and Unitrin Direct, which sells automobile and homeowners insurance directly to consumers or through employer-sponsored voluntary benefit programs.

Source: Unitrin
www.unitrin.com

Topics Mergers & Acquisitions