Kemper Acquires Infinity Insurance

Kemper Corporation, a leading insurance provider, recently announced that it has acquired Infinity Property and Casualty Corporation, a leading provider of personal car insurance. According to the agreement, Kemper will acquire all of Infinity’s outstanding shares for $129 per share in cash, or a total of approximately $1.3 billion. This acquisition will make Kemper one of the top three major non-standard auto insurers in the United States.

Infinity's Background

Infinity Property and Casualty Corporation is a leading provider of non-standard automobile insurance, operating in twelve states across the US. The company was founded in 2002 and is headquartered in Birmingham, Alabama. Infinity has grown rapidly since its inception, becoming one of the largest non-standard auto insurers in the country. The company has more than one million policyholders and employs more than 2,000 people.

Kemper's Intentions

Kemper Corporation is also a leading insurance provider, offering auto, life, health, and property & casualty insurance products to more than seven million customers. The company, which is based in Chicago, has been in business for more than 80 years. With the acquisition of Infinity, Kemper aims to expand its presence in the non-standard auto insurance market and become one of the top three major non-standard auto insurers in the United States.

The Merger and Its Impact

The merger between Kemper and Infinity has been approved by both companies' boards of directors and is expected to close in the third quarter of 2021, subject to customary closing conditions. After the merger is complete, Infinity's headquarters will remain in Birmingham, Alabama, and the company will continue to operate under the Infinity name. As a result of the merger, Kemper will gain access to Infinity's extensive customer base, as well as its large distribution network.

Benefits for Customers

For customers, the merger between Kemper and Infinity will bring about a number of benefits. Customers of both companies will have access to a wider range of auto insurance products and services, as well as improved customer service. In addition, customers will be able to take advantage of the combined company's larger distribution network, which will provide more convenient access to insurance products. Also, the combined company's larger size and economies of scale will help to reduce costs and provide customers with more competitive rates.

Final Thoughts

The acquisition of Infinity by Kemper Corporation is an exciting development that will bring about a number of benefits for both companies and their customers. The combined company will have access to a larger customer base, more competitive rates, and a larger distribution network. In addition, customers of both companies will have access to a wider range of auto insurance products and services. Overall, this acquisition is expected to be beneficial for both companies and their customers.