American Family Insurance to acquire Ameriprise Auto & Home for $1.1bn.

American Family Insurance, a private mutual company that focuses on property, casualty, and auto insurance, is to acquire Ameriprise Auto & Home, a Wisconsin-based property-casualty insurance provider that primarily sells its products through a partnership with wholesale retailer Costco, for $1.1bn. The acquisition is expected to close during the second half of 2019. The acquisition continues American Family’s strategy to complement its exclusive agents with distribution channels for customers who prefer to handle their insurance matters in different ways. The acquisition also broadens American Family’s business on a geographic basis, which spreads out storm risk and helps further strengthen the company’s financial position.