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KEMPER CORPORATION COMPLETES SALE OF FEDERAL KEMPER INSURANCE COMPANY

 LONG GROVE, Ill., Jan. 3 /PRNewswire/ -- Kemper Corporation (NYSE: KEM) today announced the completion of its sale of Federal Kemper Insurance Company to Anthem P&C Holdings, Inc. The sale finalizes the company's exit from the property casualty insurance business.
 Kemper Corporation received $100 million in the transaction, approximately $95 million in cash and the balance in the form of a property dividend. The company also received $5 million in cash dividends from Federal Kemper Insurance Company during 1993.
 "This sale marks a milestone for Kemper Corporation," said David B. Mathis, chairman and chief executive officer of Kemper Corporation. "In addition to completing our exit from the property-casualty insurance market, the sale of Federal Kemper Insurance is the culmination of a two year effort to shed nonstrategic businesses and transform Kemper Corporation into a focused financial services company.
 "This sale allows us to start 1994 with our attention and resources focused on our core asset management, life insurance and securities brokerage businesses," Mathis added.
 Kemper Corporation is a non-operating holding company with principal subsidiaries in asset management, life insurance and securities brokerage.
 -0- 1/3/94
 /CONTACT: Janice Kalmar, 708-320-4465, or Ira Nathanson 708-320-4463, both of Kemper/
 (KEM)


CO: Kemper Corporation; Anthem P&C Holdings, Inc. ST: Illinois IN: FIN SU:

PS -- NY010 -- 8419 01/03/94 09:37 EST
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Publication:PR Newswire
Date:Jan 3, 1994
Words:220
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