Sentry Insurance acquires auto insurer from American Family Insurance

STEVENS POINT, Wis. (WSAW) – Sentry Insurance announced that it will acquire The General® from American Family Insurance.

Sentry will acquire The General from American Family Insurance for approximately $1.1 billion in cash. Including the value of the assumed liabilities and required capital, the total value of the transaction is $1.7 billion. The transaction is expected to close by the end of 2024, subject to regulatory approvals.

Sentry, a mutual insurance company known for its expertise in commercial insurance, also offers comprehensive non-standard auto (NSA), motorcycle and off-road vehicle (ATV) coverage through its Dairyland® brand. Non-standard auto insurance is designed for drivers who have difficulty obtaining standard auto insurance.

“This acquisition is the largest in our 120-year history, bringing together two of the most powerful brands in the non-standard automotive industry,” said Pete McPartland, Chairman and CEO of Sentry. “Together, Dairyland and The General can better serve the unique needs of even more drivers across the country.”

“As part of our company, The General has more than quintupled its revenue, operated a consistently profitable business, entered new states, and continued to demonstrate dedication and passion for its customers and the market,” said Bill Westrate, chairman and CEO of American Family Insurance. “We are confident that Sentry's expertise, strong reputation in the market and work culture will not only continue to serve The General's customers well, but will also ease the transition for The General's employees.”

Key highlights:

• Established brands: Both The General and Dairyland have served NSA customers for more than 60 years. The General, headquartered in Nashville and acquired by American Family in 2012, has served the market since 1963. Dairyland, based in Middleton, Wisconsin, was founded in 1953 and acquired by Sentry in 1966.

• Strategic fit: The General has built a strong reputation in the direct-to-consumer NSA insurance space, while Dairyland is known for serving customers through its independent agent network. For customers, this means flexibility in choosing how they want to purchase their insurance – whether through an agent or directly – and a seamless overall experience, from claims to customer service.

• Parallel operations: Both brands will continue to operate independently while Sentry and The General go through the integration process.

• Growth and stability: Approximately 1,300 employees from The General will join Sentry's 5,000-person workforce on January 1, 2025. The company will remain headquartered in Nashville.

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