Kemper Corp. disclosed that its CEO plans to retire next year, and the insurance holding company has already begun the process to search for his replacement.
Donald Southwell also serves as the Chicago company’s chairman and president. He told Kemper’s board of directors that he’d retire on May 26, 2016, when he turns 65.
In a statement, Southwell said he’d work closely with the board over the next several months to facilitate a smooth leadership transition. He’s held various leadership roles at Kemper over 20 years.
“I’m proud of all we have accomplished together,” Southwell said.
A lot of those accomplishments have involved expansions over the years into multiple lines; Kemper has subsidiaries focused on auto, home, renters, life and health insurance.
Kemper moved to expand further last December, when it agreed to pay about $70 million for California-based Alliance United Group. The deal gave Kemper a top five writer of non-standard auto insurance in California that distributes auto insurance through a network of 900 producers in 2,000 locations.
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