HSB Acquires Kemper Insurance Companies' Boiler and Machinery Business

The Hartford Steam Boiler Inspection and Insurance Company (HSB) (Hartford, CN) recently completed the acquisition of Kemper Insurance Companies, a monoline boiler and machinery business. HSB will provide jurisdictional inspections, loss prevention and claim services to Kemper's clients.

In addition to the acquisition, HSB purchased Kemper's American Society of Mechanical Engineers (ASME) inspection service business, a fee-based engineering service that certifies boiler and pressure vessel compliance with codes and standards of the ASME. In 1997, Kemper reported equipment breakdown premiums of approximately $80 million and engineering fees for ASME inspections of $7.5 million.

As part of the acquisition, HSB is offering Kemper's underwriters, inspectors and engineering specialists employment.

HSB Group, Inc.is a global provider of insurance products and engineering management consulting services. HSB Group is the parent company of The Hartford Steam Boiler Inspection and Insurance Company.