CHICAGO--(BUSINESS WIRE)-- Kemper Corporation (NYSE: KMPR) announced today that it has completed the sale of Reserve National Insurance Company and its subsidiaries to Medical Mutual of Ohio. Kemper previously announced on August 1, 2022 that it had agreed to sell Reserve National to Medical Mutual.
The transaction closed after all required regulatory approvals were received and will result in Kemper receiving approximately $88 million of cash consideration for all of the Reserve National assets.
“The close of this transaction represents another milestone in the execution of our strategic initiatives,” said Joseph P. Lacher, Jr., Kemper’s President, CEO and Chairman. “It enables us to increase our focus on our core capabilities where we have the highest potential for success and to deliver ongoing value to our stakeholders. We’re very pleased the Reserve National team will be working with a strong partner to invest in and grow the business.”
The Kemper family of companies is one of the nation’s leading specialized insurers. With approximately $13 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Auto, Personal Insurance and Life brands. Kemper serves over six million policies, is represented by approximately 33,500 agents and brokers, and has approximately 10,100 associates dedicated to meeting the ever-changing needs of its customers. Learn more about Kemper.