Kemper to buy specialty auto insurer American Access for $370m

US insurance group Kemper Corporation is set to acquire American Access Casualty Company (AAC), which has a particular focus on the Hispanic market, for $370 million.

The deal includes AAC's subsidiaries and captive insurance agency Newins Insurance Agency Holdings. AAC offers specialty private passenger auto insurance in Arizona, Illinois, Indiana, Nevada and Texas.

The acquisition is expected to further expand Kemper's geographic footprint and expertise in the specialty auto segment.

“AAC is a great addition to Kemper’s specialty auto franchise and aligns with our strategic intent to serve growing niche markets with affordable and easy-to-use products,” said Duane Sanders, president of Kemper’s P&C division.

“Their distribution capabilities, including strong customer and agent relationships, will expand our geographic footprint and when combined with our financial resources will create increased reach and incremental scale. We look forward to having AAC join the Kemper team,” Sanders added.