Unitrin Inc Chicago, Illinois purchases Help insurers Weather ups, Downs
For years, the USA property and accident insurance under the threat of clouds of lower prices. In 2001, opened the storm clouds to a malignant.
The industry sent its first net loss this year, after 150 years in the black. In collaboration with low prices, the stock market and interest Tanked fell, which has a negative impact on insurers the most important sources of income.
One victim was Unitrin. He suffered a sharp drop in revenues in 2001, then lost money in the coming years.
Still, Unitrin not rest and lick his wounds. In June 2002, the company has its largest acquisition whenever it has provided automotive and home lines of Kemper Insurance, the addition of nearly $ 700 million of premiums.
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