Kemper To Acquire Nonstandard Auto Insurer Infinity In 1 4 Billion

Kemper Agrees to Buy Nonstandard Auto Insurer Infinity for $1.4 Billion

Kemper Corporation, a leading provider of insurance and financial services, recently announced that it has entered into an agreement to acquire Infinity Property and Casualty Corporation, a nonstandard auto insurer, for $1.4 billion. The acquisition will be funded with a combination of cash and stock and is expected to close in the third quarter of 2021.

What Does the Acquisition Mean for Kemper?

The acquisition will expand Kemper’s presence in the nonstandard auto market. Infinity is a leading provider of nonstandard auto insurance, which is insurance for drivers who are considered “high risk” due to their driving history, age, or other factors. By acquiring Infinity, Kemper will gain access to this growing market and strengthen its overall position in the insurance industry.

What Is Nonstandard Auto Insurance?

Nonstandard auto insurance provides coverage to drivers who may not qualify for traditional auto insurance. These drivers are typically considered “high risk” due to their age, driving record, or other factors. Nonstandard auto insurance can be more expensive than traditional auto insurance, but it is often the only option for these drivers.

What Does This Mean for Infinity Customers?

The acquisition of Infinity by Kemper is expected to be beneficial for Infinity customers. With Kemper’s deep financial resources and strong customer service record, customers can expect the same quality of service they have come to rely on from Infinity. In addition, Kemper is committed to maintaining the same coverage levels and pricing that Infinity customers have come to expect.

What Are the Benefits of the Acquisition for Kemper?

The acquisition of Infinity will provide Kemper with access to a growing market, as well as new customers and opportunities. In addition, the acquisition will provide Kemper with increased financial stability and a strong competitive position in the nonstandard auto insurance market. Finally, the acquisition will enable Kemper to expand its product offerings and strengthen its overall competitive position in the industry.

Conclusion

Kemper’s acquisition of Infinity Property and Casualty Corporation is a strategic move that will benefit both companies. The acquisition will provide Kemper with access to a growing market and strengthen its competitive position in the nonstandard auto insurance market. In addition, Kemper will be able to offer Infinity customers the same quality of service they have come to expect, as well as maintain the same coverage levels and pricing. The acquisition is expected to close in the third quarter of 2021.