Kemper has signed a definitive agreement to sell its Eagle insurance operations to a newly created holding company organized by Summit Partners, a leading global private equity and venture capital firm, in partnership with members of Eagle's senior executive team.

Included in the sale will be the stock of Kemper Employers Insurance Company and PointSure Insurance Services, Inc. as well as certain operating assets of the Eagle Insurance Companies. Although Kemper is not selling Eagle Pacific Insurance Company or Pacific Eagle Insurance Company, the new company is acquiring the rights to renew Eagle policies post-closing.

Eagle employees will be offered positions with the new company, which will be led by Eagle's senior management.

Eagle provides workers' compensation coverage for maritime and other specialty niche industries. No anticipated changes in market focus are planned in connection with the sale.

Closing of the proposed transaction is subject to regulatory approvals as well as certain other conditions.

Summit Partners invests in growing, profitable, privately held companies with proven business models, records of revenue and earnings growth and the leadership capable of sustaining that growth. Summit Partners has offices in Boston, Palo Alto, Calif., and London and since its founding in 1984 has raised in excess of $5 billion in capital and invested in more than 230 businesses.