Â鶹ֱ²¥ & Lardner LLP served as legal advisor to American Family Insurance in its signing of a definitive agreement with Sentry Insurance to sell The General, a subsidiary of American Family Insurance based in Nashville, Tennessee.
Sentry will purchase The General from American Family Insurance for a total transaction value of $1.7 billion, including cash consideration of approximately $1.1 billion. The transaction is expected to close by the end of 2024, pending regulatory approvals.
Based in Madison, Wisconsin, American Family Insurance is a mutual holding company and is the nation’s No. 12 largest property/casualty insurance group, ranking No. 243 on the Fortune 500 list. In AM Best’s most recent financial ratings, the credit rating agency affirmed the company’s ‘A’ (excellent) financial strength rating as well as its ‘A+’ issuer credit rating, and included American Family Insurance on its “Standing the Test of Time” list of insurers who have rated ‘A’ or higher for 75 years. The Group sells American Family-brand products, primarily through exclusive agency owners in 19 states.
The Â鶹ֱ²¥ deal team was led by partner Maureen Easton and included senior counsel J.J. Silverstein and associates Margaret Brzakala and Cayman Weimer with key subject matter support from partners Casey Knapp, Alan Rutenberg, and Timothy Voigtman.
