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Unitrin Direct Ratings and Company Information
Best Insurance Reports: 00914
Best Rating: A
Type of Insurance Company: Holding Company for P/C and Life/Health
Name of Parent Company:
Company History: Unitrin, Inc. was formed as a holding company in 1990 to acquire the insurance and financial subsidiaries being spun off from Teledyne, Inc. Several subsequent transactions and strategic affiliations (including the acquisition of Kemper Auto and Home in 2002) have resulted in the current configuration of Unitrin. Unitrin operates in 6 segments:
Kemper Auto and Home (standard and preferred risk auto and homeowner's insurance)
Unitrin Specialty (non standard personal and commercial automobile insurance)
Unitrin Direct (various private passenger auto insurance coverages for a range of preferred, standard and non standard risks)
Unitrin Business Insurance (commercial coverage including commercial auto, general liability, fire, multiperil and worker's compensation)
Life and Health Insurance (sells individual life and health insurance, accident and medicare supplement plans)
Consumer Finance (finances purchases of automobiles, especially used automobiles, through contracts with auto dealers)
Principle Sales Methods: Unitrin's companies have more than than 6 million policyholders and consumer finance customers. The distribution network consists of a nationwide group of more than 17,000 career agents and independent agents and loan representatives. Direct sales to customers via the internet are also conducted -- by Unitrin Direct.
Life Annuity Business: Unitrin's life and health operations market individual life, health and accident insurance products through a sales force of 2,400 career agents and 250 exclusive agents.
Auto Business: The Property and Casualty Insurance Group is made up of Kemper Auto and Home, Unitrin Specialty, and Unitrin Business Insurance, which sell personal and commercial insurance through a network of independent agents; and Unitrin Direct, which sells personal auto insurance directly to consumers. Property and casualty operations account for about 63% of Unitrin's revenues (life and health about 27%, consumer finance 7%, other operations 3%). The Kemper Auto and Home unit sells primarily preferred and standard risk auto and homeowners' insurance to middle and upper income individuals and families. Unitrin Specialty covers the nonstandard personal and commercial auto markets. Unitrin Direct covers the spectrum of private auto coverage (from preferred to non-standard).
Homeowners Business: Kemper Auto and Home is the primary distributer of homeowners' coverage for Unitrin. Sales are through 3,000 independent agents in 39 states.
Health Business: The Unitrin Life and Health Insurance Group is ranked in the top 100 life insurance providers in the U.S. and offers basic life and health insurance products. The leading company, Reserve National Insurance, distributes its products in 31 states throughout the south, southwest and midwest.
Special Business: The consumer finance segment makes consumer loans, primarily for automobile purchases through its Fireside Bank.
Company Financial Status:
Ticker Symbol: UTR
Assets & Premiums: Unitrin, Inc. had revenues of $3.1 billion in 2006 and total assets of $9.3 billion at the end of 2006.
Lines of Insurance:
Auto, Health, Long Term Care, Life, Disability, Homeowners
States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, VI, WA, WV, WI, WY