Zurich Group purchases remaining 20% interest in Kemper Corporation

Zurich, Switzerland/Long Grove, IL, USA, March 20, 1998. - The Zurich Group announced that it has purchased from Insurance Partners the remaining 20 percent interest in Kemper Corporation, which is primarily comprised of the three insurance companies of Zurich Kemper Life (ZKL). With this transaction Kemper Corporation, headquartered in Long Grove, IL, becomes a wholly-owned subsidiary of Zurich. Terms of the transaction were not disclosed.

Zurich Kemper Life (ZKL) is comprised of Federal Kemper Life Assurance Company, Kemper Investors Life Insurance Company and Zurich Life Insurance Company of America and is a leading provider of term life insurance, variable universal life insurance, variable and fixed annuities, and flexible universal life insurance. Combined, the ZKL-companies have more than USD 14 billion in assets.

Insurance Partners is an investment partnership formed in February 1994 to sponsor acquisitions and other structured transactions worldwide in the property-casualty and life and health insurance industry in the U.S. and abroad.