The Unitrin Inc. insurance company made the announcement that it will be changing its name before the end of the month, at which time it will be known as Kemper Corp.
Unitrin is based in Chicago, and in 2002 it had purchased the personal lines business from Kemper, another insurer that was still operational at the time. Today Unitrin has announced that its purchase has become the largest unit in the company, having brought in slightly under $1 billion in premiums in 2010.
According to Don Southwell, Chairman and CEO of Unitrin, Kemper has made a significant and “legendary” reputation for itself throughout the insurance industry, and “it offers an opportunity to create a unified brand for our family of companies and a strong platform for continued growth and expansion.”
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The Kemper brand has long been linked with the name Kemper Insurance Companies of Long Grove, and in 2010, Unitrin had purchased all of the name rights for Kemper.
It has been seven years since Kemper went out of business. Since that time, Lumbermens Mutual Casualty Co., its primary subsidiary, has been working to pay claims and dismantling the operation. It was from Lubermens that Unitrin bought the Kemper name rights, having made the purchased for an undisclosed amount.
The change in Unitrin’s name will go into effect as of August 25, 2011, at which time the company will begin its trading on the New York Stock Exchange under the symbol KMPR.