September 5, 2013
American Family Insurance agrees to acquire direct homeowners insurer Homesite Group, Inc.
On September 4, American Family Insurance announced it has reached an agreement to acquire Willkie client Homesite Group, Inc., a direct homeowners insurer, for $616 million. Homesite is a leader in direct-to-consumer homeowners, renters and condominium insurance, using the internet, call centers and technology-enabled platform solutions. The company is privately owned by multiple entities and individuals, including Alleghany Corporation, Metalmark Capital through its management of the Morgan Stanley Capital Partners funds and The Plymouth Rock Company, Inc. Based in Madison, Wisconsin, American Family is the nation’s third-largest mutual property/casualty insurance company, offering auto insurance, homeowners insurance, life insurance, business and farm/ranch insurance.
