American Family reports $515M in net income

Madison-based American Family Insurance has announced it increased its policyholder equity by $384 million in 2014, bringing its total equity to $7 billion. Net income for the year increased 36% to $515.2 million, compared to $378.8 million a year earlier.

Since the end of 2013, AmFam has acquired two insurance-related companies: Boston-based Homesite and Nashville-based The General.