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Kemper history
Kemper company history timeline
Kemper Corporation was originally founded as Unitrin, Inc. in April 1990, when it spun off from Henry Singleton's conglomerate Teledyne.
Also in 1990 Kemper's five regional brokerage operations were consolidated under Kemper Securities, Inc., which was made a subsidiary of Kemper Financial Services.
Only the ongoing strength of Kemper's asset management unit--the only Kemper unit to post a profit for the year, $88.3 million--kept 1992 from being a complete disaster.
In 1992 Mathis became CEO of Kemper Corporation and early the following year moved to turn the company's fortunes around through a major restructuring.
Year-end results for 1993 boded well for the restructuring's long-term chances of success as sales increased slightly to $1.55 billion and Kemper was profitable again with $235.5 million in net income.
In January 1994, General Electric Capital Corporation (GECC), the financial services arm of General Electric, made a takeover proposal of $45 per share to Kemper's board.
In December Mathis told stockholders at an annual meeting that Kemper was still for sale despite its battered stock, which had fallen from a high of $62 in June to $38, a sure sign that any new offers would not be as attractive as those of 1994.
In a deal announced in early April 1995 and completed in September, the brokerage unit of Kemper Securities was first to go in a spinoff to be 100 percent-owned by the new firm's employees.
In 1995 Zurich Insurance of Switzerland acquired Kemper Corp. and promptly sold off the securities division to Kemper employees as a separate company named Everen Securities Inc.
Renamed Everan Capital Corp., the spinoff forced Kemper to take an $88 million loss from discontinued operations in 1995.
In 2002, Unitrin purchased the renewal rights for the homeowners and automobile insurance lines of Kemper Insurance, a long-time Chicago insurance and financial services firm.
In November 2015, Joseph P. Lacher, Jr. was appointed President and Chief Executive Officer.
In May 2020, Joseph P. Lacher, Jr. was elected Chairman of the Board, in addition to his role as President and Chief Executive Officer.
On November 23, 2020, the company announced it had entered into a definitive agreement to acquire American Access Casualty Company and its related captive insurance agency, Newins Insurance Agency Holdings, LLC, and its subsidiaries (collectively “AAC”), in a cash transaction valued at $370 million.
Fortune Magazine included Kemper on its 2020 list of the 100 Fastest-Growing Companies.
On April 1, 2021, the company announced it had completed the acquisition of AAC. AAC provided specialty private passenger auto insurance in Arizona, Illinois, Indiana, Nevada and Texas.
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Kemper competitors
| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| The Travelers Companies | 1853 | $231.7M | 30,800 | 1,726 |
| GEICO | 1936 | $25.5B | 40,000 | 1,262 |
| Progressive | 1937 | $35.0M | 43,001 | 557 |
| Farmers Insurance | 1928 | - | 19,000 | 172 |
| Allstate | 1931 | $44.7B | 45,780 | 592 |
| Fireman's Fund Insurance Company | 1863 | $723.0M | 2,000 | - |
| Safeco Insurance | 1923 | $6.3B | 7,200 | - |
| Erie Insurance | 1925 | $2.6B | 6,000 | 135 |
| CNA Insurance | 1897 | $9.4B | 6,700 | 270 |
| Sentry | 1904 | $4.1B | 4,139 | 454 |
Kemper history FAQs
Zippia gives an in-depth look into the details of Kemper, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Kemper. The employee data is based on information from people who have self-reported their past or current employments at Kemper. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Kemper. The data presented on this page does not represent the view of Kemper and its employees or that of Zippia.
Kemper may also be known as or be related to Kemper and Kemper Corporation.