Winston & Strawn represented American Access Casualty Company and its related captive insurance agency, Newins Insurance Agency Holdings, LLC, and its subsidiaries in the transaction.
Kemper Corporation (NYSE: KMPR) executed the acquisition of 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. The transaction is expected to close in the first quarter of 2021, subject to regulatory approval and other customary closing conditions.
AAC, headquartered in Downers Grove, Illinois, provides specialty private passenger auto insurance in Arizona, Illinois, Indiana, Nevada and Texas. AAC wrote over $370 million of direct premiums in 2019 through a network of approximately 500 independent agents and over 110 captive agents.
Chicago, Illinois-based, Kemper Corporation is one of the nation’s leading specialized insurers. With $14.1 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, Life and Health brands. Kemper services over 6.3 million policies, is represented by more than 30,000 agents and brokers, and has over 9,300 associates dedicated to meeting the ever-changing needs of its customers.
Winston & Strawn represented AAC with a team including partners Neely B. Agin (Picture), Matthew F. Bergmann, Robert B. Heller, Jennifer Stadler, and associates Peter W. Clarke, Lindsay C. Shake, and T. Justin Trapp.
Involved fees earner: Neely Beth Agin – Winston & Strawn; Matthew Bergmann – Winston & Strawn; Peter Clarke – Winston & Strawn; Robert Heller – Winston & Strawn; Lindsay Shake – Winston & Strawn; Jennifer Stadler – Winston & Strawn; Justin Trapp – Winston & Strawn;
Law Firms: Winston & Strawn;