American Family Insurance set to purchase PGC Holdings

American Family Insurance is looking to purchase Nashville, Tenn.-based PGC Holdings, a high-risk auto insurer that offers policies in 25 states, for $230 million. Pending regulatory approvals, the transaction with PGC (Permanent General Cos.) should be finalized later this year and will give American Family a holding in some states it had no presence in before. The two entities will reportedly continue to operate under their separate brands and names, and no jobs will be affected.