Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018

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Kemper agrees to buy Infinity for $1.3bn

  • Ted Bunker 13 February 2018
  • Kemper has agreed to buy specialty insurer Infinity Property and Casualty for at least $1.3bn in a stock and cash deal designed to expand the Chicago-based buyer's reach into the nonstandard auto segment.

    The companies agreed to a transaction that valued Infinity at $129 per share, based on a 20-day average price of $64.40 a share for Kemper stock, putting the deal value at $1.4bn, the companies said today. But equity market gyrations this month affected the value of the...

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