Kemper (NYSE:KMPR) announced today that it has completed the sale of its property and casualty distribution operation, which includes captive agents and storefront locations, to Confie, a leading national insurance distribution company.
The deal marks a strategic exit from the captive storefront model for the Chicago-based insurer.
The transaction features the sale of Newins Insurance Agency Holdings, the umbrella for several well-known regional brands including Illinois Vehicle, A-Abana, and Access Auto Insurance.
These operations, which specialize in serving niche markets in a limited number of states, were originally acquired by Kemper in 2021 as part of its $370 million acquisition of American Access Casualty Company.
As part of the agreement, employees associated with the Newins business have transitioned to Confie.
The move follows a period of restructuring for Kemper’s Specialty Property & Casualty segment, which has faced pressure from rising bodily injury severity and elevated loss costs.