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THE ST. PAUL COMPANIES COMPLETES PURCHASE OF ECONOMY FIRE & CASUALTY COMPANY

 ST. PAUL, Minn., Aug. 31 /PRNewswire/ -- The St. Paul Companies (NYSE: SPC) today announced the completion of its purchase of Economy Fire & Casualty Company from Kemper Corporation (NYSE: KEM). The acquisition concluded an agreement, announced last month, to purchase Economy from Kemper.
 Economy Fire & Casualty Company, based in Freeport, Ill., is one of the top 100 auto and homeowners underwriters in the United States and the fifth largest personal lines company in Illinois, based on net premiums written. Economy's net premiums written totaled $401 million for the year ended Dec. 31, 1992. Economy operates through a network of 1,600 independent agents in 22 states and has approximately 1,200 employees. It had assets of $745 million and stockholder's equity of $305 million at June 30, 1993.
 The St. Paul Companies, headquartered in Saint Paul, is a group of companies that provides property-casualty insurance underwriting and insurance brokerage products and services worldwide.
 -0- 8/31/93
 /CONTACT: Barbara Reynolds of The St. Paul Companies corporate communications department, 612-221-7399/
 (SPC KEM)


CO: The St. Paul Companies; Economy Fire & Casualty Company ST: Minnesota, Illinois IN: INS SU: TNM

KH-DB -- MN010 -- 7579 08/31/93 14:40 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
Words:195
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