Divestiture • Insurance

American Family Mutual Insurance Co. Acquires Ameriprise Financial - Auto & Home Business

On April 2, 2019, American Family Mutual Insurance Co. acquired insurance company Ameriprise Financial - Auto & Home Business from Ameriprise Financial for 1.1B USD

Acquisition Context
  • This is American Family Mutual Insurance Co.’s 5th transaction in the Insurance sector.
  • This is American Family Mutual Insurance Co.’s largest (disclosed) transaction.
  • This is American Family Mutual Insurance Co.’s 7th transaction in the United States.
  • This is American Family Mutual Insurance Co.’s 1st transaction in Wisconsin.

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M&A Deal Summary

Date April 2, 2019
Target Ameriprise Financial - Auto & Home Business
Sector Insurance
Buyer(s) American Family Mutual Insurance Co.
Sellers(s) Ameriprise Financial
Deal Type Divestiture
Deal Value 1.1B USD

Target Company

Ameriprise Financial - Auto & Home Business

De Pere, Wisconsin, United States
Ameriprise Financial, Inc. - Auto & Home Business is a property-casualty insurance provider that primarily sells its products through partnership with wholesale retailer Costco. AAH is based in De Pere, Wisconsin.
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Buyer Overview 1

Buyer

American Family Mutual Insurance Co.

Madison, Wisconsin, United States

Category Company
Founded 1927
Sector Insurance
DESCRIPTION

American Family Insurance is a private mutual company that focuses on property, casualty and auto insurance, but also offers commercial insurance, life, health, and homeowners coverage, as well as investment and retirement-planning products.


Deal Context for Buyer #
Overall 7 of 7
Sector: Insurance 5 of 5
Type: Divestiture 2 of 2
State: Wisconsin 1 of 1
Country: United States 7 of 7
Year: 2019 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-14 Networked Insights

Chicago, Illinois, United States

Networked Insights, Inc. is a marketing decision platform that analyzes social data for brands to strategize advertising, research and product development. Networked Insights, Inc. was founded in 2006 and is headquartered in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-12 The General

Nashville, Tennessee, United States

The General is an insurance agency involved in writing automobile insurance in many states throughout the country. The agency offers auto insurance online underwritten by the following insurance companies: Permanent General Assurance Corporation (NAIC #37648), Permanent General Assurance Corporation of Ohio (NAIC #22906), and The General Automobile Insurance Company, Inc. (NAIC #13703). The General is based in Nashville, Tennessee.

Sell $1.7B

Seller Profile 1

SELLER

Ameriprise Financial

Minneapolis, Minnesota, United States

Category Company
Founded 1894
Sector Financial Services
Employees13,800
Revenue 17.3B USD (2024)
DESCRIPTION
Ameriprise Financial's corporate headquarters in downtown Minneapolis, Minnesota.
Ameriprise Financial's corporate headquarters in downtown Minneapolis, Minnesota.

Ameriprise Financial is a diversified financial services company that offers a broad range of products and services designed to achieve the financial objectives of individual and institutional clients. Ameriprise Financial was incorporated in 1894 and is based in Minneapolis, Minnesota.


Deal Context for Seller #
Overall 1 of 2
Sector: Insurance 1 of 1
Type: Divestiture 1 of 2
State: Wisconsin 1 of 1
Country: United States 1 of 2
Year: 2019 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-24 Investment Professionals

San Antonio, Texas, United States

Investment Professionals, Inc. is an investment and insurance brokerage firm specializing in the on-site delivery of investment programs for financial institutions across the United States. Investment Professionals was founded in 1992 and is based in San Antonio, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-08 BMO - EMEA Asset Management Business

London, United Kingdom

BMO's EMEA Asset Management Business accelerates Ameriprise’s strategy of growing its fee-based businesses and increasing the overall contribution of Wealth Management and Asset Management within its diversified business. BMO's EMEA Asset Management Business is based in London, United Kingdom.

Buy £615M