Who owns american family insurance

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In , he was elected vice president of the Actuarial Division, and two years later he was named vice president of Personal Lines. He continued in that role until assuming the role of American Family chief operating officer in January At the time, the company's only product was auto insurance and its target market was farmers. Wittwer believed farmers presented lower risks than city drivers because they drove less often and not at all in the winter. Over the years, Farmers Mutual expanded its market and product line to meet the changing needs of its customers.

The group sells American Family-brand products, primarily through exclusive agency owners in 19 states. Across these companies the group has more than 13, employees nationwide. Also, American Family board members, officers and other employees would not receive any additional compensation, stock or benefits as a result of this change. A mutual holding company would create additional flexibility to invest in or acquire non-insurance companies, using an intermediate holding company that would facilitate those transactions.

A mutual holding company structure would also better position American Family to consider future potential mergers and acquisitions with other mutual insurance companies, the company said. Following those steps, the company would seek approval from eligible policyholders who would vote by proxy, mailed to them with an information booklet that thoroughly explains the conversion plan, or in person at a special policyholder meeting.

Dates for the administrative hearing, proxy mailing and policyholder meeting are still to be determined. The company hopes to complete the process by the end of Topics Wisconsin. Thank you! Please tell us what you liked about it.