Dec. 11--Insurance provider Kemper said Thursday it planned to buy California-insurer Alliance United Group and its subsidiaries for $70 million.
Alliance United is one of the top five providers of auto insurance for high-risk drivers in California, according to a statement from Kemper. The deal will allow Kemper to pick up more of the California auto insurance market.
"This acquisition is a great addition to Kemper's strong personal-lines insurance businesses and increases our capabilities to serve the nonstandard private passenger auto market," said Donald Southwell, Kemper's chairman, president and chief executive officer.
In midmorning trading, shares of Chicago-based Kemper were trading up 32 cents, or less than 1 percent, at $36.03.
The deal is expected to close in the first half of 2015.
crshropshire@tribpub.com
Twitter @corilyns
