Sentry to acquire The General from American Family Insurance for $1.7B

By Patrick Lynn

STEVENS POINT – Sentry Insurance has announced plans to acquire The General, a subsidiary of American Family Insurance, in a deal valued at $1.7 billion. The acquisition will expand Sentry’s reach in the non-standard auto insurance market.

Sentry will purchase The General for $1.1 billion in cash, with the total transaction, including liabilities and required capital, reaching $1.7 billion. The deal is expected to close by the end of 2024, pending regulatory approval.

“This acquisition is the largest in our 120-year history,” said Pete McPartland, Sentry’s chairman and CEO. “It brings together two of the strongest brands in the non-standard auto industry.”

The General, based in Nashville, and Sentry’s Dairyland brand, which specializes in non-standard auto, motorcycle, and off-road vehicle insurance, will continue to operate independently during the integration process. The acquisition will add 1,300 employees from The General to Sentry’s workforce, bringing its total to 6,300.

American Family’s CEO, Bill Westrate, expressed confidence in the transition, citing a strong cultural and strategic fit with Sentry.

Sentry, headquartered in Stevens Point, is one of the largest and most financially secure mutual insurance companies in the U.S., with a Financial Strength Rating of A+ from AM Best. American Family, based in Madison, ranks as the nation’s 12th-largest property/casualty insurance group.