Financial Services Industry
Industry: Email Alert RSS FeedThe St. Paul buys Kemper renewals. (Financial News).(St. Paul Companies purchased right to seek renewals of Kemper Insurance Companies' commercial insurance business)
National Underwriter Property & Casualty-Risk & Benefits Management, May, 2003 by Hays, Daniel
The St. Paul Companies announced last week that, for an undisclosed price, it has purchased the right to seek renewals of Kemper Insurance Companies' commercial insurance business. The sale to The St. Paul is the latest hatch of renewal right selloffs announced by Long Grove, Ill.-based Kemper this year.
The commercial segment now going to The St. Paul was the subject of negotiations that broke off last month between Kemper, Securitas Capital, LLC, Cypress Merchant Banking Partners II L.P. and Gilbert Global Partners L.P. In January, the insurer sold The Hartford renewal rights to its group captives business and some large risk national account renewal business was dealt to Old Republic International of Chicago. Gross premiums for all the business segments...
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