Foley & Lardner represented American Family Insurance Mutual Holding Company in its agreement to acquire Ameriprise Auto & Home. The $1.05 billion acquisition by the Madison, Wisconsin based-American Family Insurance is a continuation of its strategy to complement its exclusive agents with distribution channels for customers who prefer to purchase insurance in different ways. The acquisition also expands American Family’s geographic territory, which diversifies storm risk and helps further strengthen the company’s financial position.
The acquisition is expected to close in the second half of 2019, pending regulatory approval and other customary closing conditions.
The deal was led by Foley partners Anne E. Ross, Maureen C. Easton, and Thomas R. Hrdlick.