Kemper Hires Princeton Partnership

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NU Online News Service, April 25, 4:02 p.m.EDT?Following its announcement yesterday that a deal tosell off its middle-market business has broken down, The KemperInsurance Companies said it hired Princeton Partnership to helpdevelop and implement new strategies.

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"We welcome the opportunity to assist Kemper during achallenging time for the company," said Bruce Shulan, a managingpartner at Princeton Partnership, a management consulting firm.

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Based in Westport, Conn., the firm serves the insurance andreinsurance sectors, focusing on the development of strategies toresolve high exposure issues, including runoff implementation. Italso offers strategic and organizational management support forcompanies in transition.

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Kemper has yet to provide details on why the deal broke down,but the discontinued letter of intent was intended to sell off itsmiddle-market business--including workers' compensation, autoofferings and umbrella coverage sold in support of these lines--toa new firm capitalized by equity investment firms, including anaffiliate of giant reinsurer Swiss Re.

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The Long Grove, Ill.-based insurer said during its announcementearly last month that it will cease underwriting activities as itsells off its core business and that it would focus on expandingopportunities for its claim and insurance services platform.

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