Unitrin Changes Name to Kemper
15 Agosto 2011 - 7:02AM
Business Wire
Unitrin, Inc. (NYSE: UTR) proudly announces its new name --
Kemper Corporation -- effective Aug. 25, 2011 and will begin
trading on the New York Stock Exchange under the KMPR ticker symbol
that day.
“Kemper is a legendary name in the insurance industry, and it
offers an opportunity to create a unified brand for our family of
companies and a strong platform for continued growth and
expansion,” said Don Southwell, Chairman, President and Chief
Executive Officer.
The company purchased the Kemper personal lines business in
2002, and this segment now represents the company’s largest
business unit with just under $1 billion in total earned premiums
in 2010. For marketing purposes, this unit will become Kemper
Preferred, effective August 25. The holding company will
incorporate the Kemper name in many of its other business units
over time.
“Since the Kemper acquisition, we have looked for opportunities
to leverage the value of the Kemper brand throughout our
organization,” Southwell added. “When we had the opportunity to
purchase the name outright in mid-2010, we jumped on it.”
In fact, the name change closely aligns with the corporate
changes over the last five years. The company has worked to
redefine itself from a holding company with an eclectic portfolio
of companies and investments to a straightforward insurance
provider with more than $8 billion in assets. Unitrin was
established as a holding company after its spin-off from Teledyne
in 1990.
“The Kemper name fits who we have become as a company,”
Southwell continued. “It allows us to bring together all of our
approximately 7,000 employees under one banner that reinforces our
position as a straightforward company that delivers personal
service and financial excellence in all of our interactions.”
After purchasing the name, the company immediately began a
top-to-bottom study of its brands, assisted by third-party
research, to explore how best to use the name more aggressively.
The Kemper brand name, its attributes and recognition remain
strong, with about a 30 percent greater awareness of the Kemper
name over Unitrin among consumers surveyed.
While the company name will change, the commitment to customer
service will remain strong. The company’s subsidiaries work through
about 10,000 independent agents and 2,600 career agents who know
the company’s products and understand how to find the right fit for
a wide array of customers. Customers who choose to purchase their
insurance directly on-line can do so via Unitrin Direct or
iMingle®, an industry first that uses social networking to enable
customers to link their policies with friends.
“We view our rebranding as an investment in the company,” said
Dennis Vigneau, Senior Vice President and Chief Financial Officer.
“Over time we expect to see benefits in terms of overall growth and
increased shareholder returns.”
Some facts on the company:
- Today, Unitrin has more than $2.5
billion in annual revenue, with more than 6 million policies in
force across the country.
- Total earned premiums for 2010 were
over $2.2 billion, with property and casualty insurance comprising
more than 70 percent of that total.
- The company has a track record of
strong, steady returns for its shareholders, including a dividend
currently at $0.96 per share on an annualized basis in 2011,
representing a yield of over 3 percent at recent market
prices.
- Since Unitrin's inception in 1990, the
company has repurchased about $1.9 billion worth of its stock and
has paid dividends totaling about $1.9 billion, for a grand total
of about $3.8 billion returned to shareholders.
Unitrin is a diversified insurance holding company with
subsidiaries that provide auto, homeowners, life, health and other
insurance products for individuals.
Unitrin's principal businesses:
Kemper Preferred provides auto, homeowners and other
insurance products to individuals through a network of independent
agents.
Unitrin Specialty provides auto insurance through a
network of independent agents and brokers to individuals and small
businesses which have had difficulty procuring insurance through
traditional channels, usually due to adverse driving records, claim
or credit histories.
Unitrin Direct markets auto and homeowners insurance to
consumers via direct mail, the internet, employer-sponsored
employee benefit programs and other affinity relationships.
Life and Health Insurance specializes in the sale of life
and health insurance products to individuals through networks of
employee agents and exclusive, independent agents.
Additional information about Unitrin is available by visiting
its website unitrin.com and, beginning on August 25,
kemper.com.
Caution Regarding Forward-Looking Statements
This press release may contain or incorporate by reference
information that includes or is based on forward-looking statements
within the meaning of the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements give expectations or forecasts of future events, and can
be identified by the fact that they relate to future actions,
performance or results rather than strictly to historical or
current facts.
Any or all forward-looking statements may turn out to be wrong,
and, accordingly, readers are cautioned not to place undue reliance
on such statements, which speak only as of the date of this press
release. Forward-looking statements involve a number of risks and
uncertainties that are difficult to predict, and are not guarantees
of future performance. Among the general factors that could cause
actual results to differ materially from estimated results are
those listed in periodic reports filed by Unitrin with the
Securities and Exchange Commission (the "SEC"). No assurances can
be given that the results contemplated in any forward-looking
statements will be achieved or will be achieved in any particular
timetable. The company does not assume any obligation to publicly
correct or update any forward-looking statements as a result of
events or developments subsequent to the date of this press
release. The reader is advised, however, to consult any further
disclosures the company makes on related subjects in its filings
with the SEC.
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