Kemper Corporation is acquiring American Access Casualty Company (AAC) in a $370 million deal.
The Downers Grove, IL-based AAC wrote over $370 million of direct premiums in 2019 through a network of some 500 independent agents and more than 110 captive agents. The company – a specialist in auto insurance for the Hispanic community – sells private passenger auto insurance in the states of Arizona, Illinois, Indiana, Nevada, and Texas through a multi-channel distribution strategy.
A company release said that the deal is expected to close in the first quarter of 2021, subject to regulatory approval and other customary closing conditions.
“AAC is a great addition to Kemper’s specialty auto franchise and aligns with our strategic intent to serve growing niche markets with affordable and easy-to-use products,” said Kemper property and casualty division president Duane Sanders.
Sanders added that AAC’s distribution capabilities will help expand Kemper’s geographic footprint and reach, especially when combined with Kemper’s financial resources.