American Family reported its financial results for 2018. The insurer added $955 million to policyholder equity in 2018. This brings the group’s total equity to $9 billion, due largely to its merger with Florida-based mutual insurance company Main Street America, completed Oct. 31.
American Family was not immune to drops in the financial markets as it experienced realized and unrealized losses of more than $500 million. Insurance operations were negatively affected by storm losses and auto insurance underwriting losses caused by more claims and higher loss costs. The group still achieved a net income of $295.2 million, an increase from