Edit Module
Bookmark and Share Email this page Email Print this page Print Pin It
Feed Feed

Am Fam merges with Main Street America

Members of American Family Insurance Mutual Holding Co. have voted to approve a merger with Florida-based Main Street America Group Mutual Holdings, Inc. (aka Main Street America), the Madison-based insurer announced. The merger received more than 86 percent of the votes cast by proxy or in person after Main Street America members overwhelmingly approved the merger at an Oct. 19 meeting.

Main Street America is a commercial insurance business with a strong east coast presence, and American Family notes the merger will help reduce the geographic concentration risk of Midwest storms. The Florida firm, which will operate as a stand-alone brand within the American Family Insurance group, uses independent agents and therefore offers a new sales channel to American Family companies, which sell branded products primarily through exclusive agents.

The arrangement is similar to American Family’s mergers with The General and Homesite, which American Family acquired in 2012 and 2013, respectively.

Oct 30, 2018 03:11 pm
 Posted by  Anonymous

“Merger will help reduce the geographic concentration risk of Midwest storms.” I’d say it opens us to having to subsidize hurricane losses throygigher premiums!

Bob

Add your comment:
Bookmark and Share Email this page Email Print this page Print Pin It
Feed Feed
Edit Module
Edit ModuleShow Tags

Events Calendar

Edit Module
Edit Module
Edit Module