Agreement includes seven lines of business, including auto, in 22 states. Safeco Insurance, a Liberty Mutual company, has entered into a book transfer agreement with Main Street America Insurance, a well-established property and casualty carrier currently offering commercial and farm and ranch products as well as fidelity and surety bonds nationwide. In 2018, Main Street […]
American Family Insurance Group to Raise in Minimum Pay to $25 per Hour Next Year
American Family Insurance Group announced it is raising its minimum hourly wage to $25 per hour – its third increase since 2020 – to draw and retain talent to best serve its customers. The wage increase will take effect in January 2025. “As a customer-driven organization, it’s critical to invest in our employees who provide […]
Sentry Insurance to Acquire The General from American Family
$1.7 billion acquisition expands Sentry’s reach in non-standard auto insurance. Sentry Insurance announced it will acquire The General from American Family Insurance for approximately $1.1 billion in cash consideration. Including the value of assumed liabilities and required capital, the total transaction value will be $1.7 billion. The transaction is expected to close by year-end 2024, […]
American Family’s Westrate Elected Chair of IIHS Board of Directors
Bill Westrate, chair and chief executive officer of American Family Insurance, has been elected chair of the Insurance Institute for Highway Safety’s Board of Directors for 2024. Westrate takes over from Scott Wesley Ziegler, who is retiring from Progressive Insurance, where he was general manager of personal lines. “IIHS exemplifies the collective power and impact […]
State Farm Premiums Written Up Nearly 24% in Second Quarter
S&P Global says the company remains largest auto insurer in the U.S. State Farm Mutual Automobile Insurance Co. remained the largest personal auto insurer in the US during the second quarter amid a record quarter for the sector, according to an S&P Global Market Intelligence analysis. The insurer’s direct premiums written surged nearly 24% — […]
Mark Afable and Cory Nettles Join the American Family Board
American Family’s board of directors has elected two new members, Mark Afable and Cory Nettles. They will begin their service January 1, 2024. “A strong board of directors with broad and diverse experience and backgrounds is essential to fulfilling our purpose as a mutual company,” said Bill Westrate, chair-elect of the board and American Family […]
American Family Joins The Climate Pledge
American Family Insurance has become the first U.S.-based insurance company to join more than 375+ national and global companies across more than 53 industries and 34 countries in further committing to taking climate action by signing The Climate Pledge. Co- founded by Amazon and Global Optimism in 2019, The Climate Pledge is a commitment to […]
American Family Insurance Partners with Tractable to Streamline Claims Operations
American Family Insurance is partnering with Tractable to apply its artificial intelligence (AI) solutions. Specifically, American Family Insurance Claims Services (AFICS) will be using Tractable as part of its claims subrogation settlement process. American Family is one of the earliest top ten private passenger auto carriers in the US to apply Tractable’s AI to claims, […]
American Family Insurance Announce Raise in Minimum Pay to $23 per Hour
The increase in minimum wage, the second in two years, will result in raises for more than 2,000 employees at American Family group companies. American Family Insurance group announced it is raising its minimum hourly wage to $23 per hour – its second increase in two years – to draw and retain talent to serve […]
GM Plans $6 Billion Revenue Goal for OnStar Insurance by 2030
Vehicle manufacturer details goals to market insurance products and transform claims and parts procurement through its ecosystem of dealers and certified repair facilities. General Motors Co. (NYSE: GM) provided a detailed roadmap of how the company plans to double its annual revenue and expand margins to 12 to 14 percent by 2030, as a result […]