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 INDIANAPOLIS, Nov. 23 /PRNewswire/ -- Anthem P&C Holdings, Inc. has signed a definitive agreement to acquire Federal Kemper Insurance Company, a personal lines property and casualty insurer, for $100 million. Anthem P&C Holdings, Inc. is the holding company for the property and casualty insurance activities of The Associated Group, a $3.3 billion (revenues) insurance and financial services company. Federal Kemper, headquartered in Decatur, Ill., is a wholly-owned subsidiary of Kemper Corporation (NYSE: KEM).
 The acquisition is subject to regulatory approval and is expected to close on Dec. 31, 1993.
 Federal Kemper will change its name and become the leading company of a new subsidiary, Anthem Personal Insurance Companies. Federal Kemper's headquarters will remain in Decatur. Anthem P&C Holdings also owns The Shelby Insurance Group, a major regional property and casualty insurance company headquartered in Shelby, Ohio.
 Dan R. Carmichael, president and CEO of Anthem P&C Holdings, said, "The addition of Federal Kemper brings us a quality team of people who have built a solid record of success in the intensely competitive personal lines marketplace. They have earned Federal Kemper wide recognition as a service leader, and their operations are supported by some of the best automated systems in the insurance industry. We are confident that they will continue to be successful when Federal Kemper becomes a member of Anthem P&C Holdings, adding further strength to our growing property and casualty organization."
 Carmichael also pointed to Federal Kemper's force of approximately 960 independent insurance agencies as being a valuable asset. "Federal Kemper has strong relationships with many of the best and most professional independent agents in the business. Agents can count on the same people they trust with their business today being there in the future to listen and deliver responsive personal service."
 The acquisition of Federal Kemper is consistent with The Associated Group's strategy to diversify and to expand its presence in the field of property and casualty insurance. The combined net property and casualty premiums written of Federal Kemper and Anthem P&C Holdings are expected to be approximately $330 million for 1993.
 The acquisition expands Anthem P&C Holdings' market area from 13 to 20 states. In addition to serving Connecticut, Florida, Georgia, Illinois, Indiana, Mississippi, North Carolina, Ohio, Rhode Island, Tennessee, Virginia, West Virginia and Wisconsin, Anthem P&C Holdings will now also serve Alabama, Delaware, Iowa, Kentucky, Maryland, Missouri and Pennsylvania.
 The Associated Group is a $3.3 billion (revenues) diversified insurance and financial services company doing business across the United States.
 -0- 11/23/93
 /CONTACT: William Carmichael of Anthem P&C Holdings, 317-488-6248/

CO: Anthem P&C Holdings, Inc.; Federal Kemper Insurance Company ST: Indiana, Illinois IN: INS SU: TNM

BM-AR -- CL003 -- 7431 11/23/93 17:09 EST
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Publication:PR Newswire
Date:Nov 23, 1993

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