Sentry Insurance to acquire The General

Sentry Insurance is acquiring The General from American Family Insurance in a deal expected to close by the end of the year, pending regulatory approvals.

The purchase involves $1.1 billion in cash, with additional liabilities and required capital bringing the total transaction value to $1.7 billion.

Approximately 1,300 employees from The General will join Sentry’s workforce of 5,000 starting January 1, 2025. The General will continue to operate out of its headquarters in Nashville.

Sentry, a mutual insurance company with a focus on business insurance, also offers coverage for non-standard auto, motorcycle, and off-road vehicles through its Dairyland brand.

American Family had acquired The General in 2012 for $239 million.

“This acquisition is the largest in our 120-year history. It brings together two of the strongest brands in the non-standard auto industry. Together, Dairyland and The General will be better able to meet the specialized needs of even more drivers across the country. It’s an exciting step forward for both companies, and I’m proud of the work our team has done to make this possible.” – Pete McPartland, Chairman and CEO of Sentry.

“As part of our enterprise, The General has grown its revenue more than fivefold, driven consistently profitable business, entered into new states while remaining dedicated and passionate about the customers and the market it serves. We’ve found a strategic and cultural fit in Sentry, where the growth and momentum that The General has will continue. We’re confident that Sentry’s expertise, strong reputation in this market and employment culture will not only continue to serve The General’s customers well but will also ease the transition for The General’s employees.” – Bill Westrate, Chair and CEO of American Family Insurance.