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Sentry acquires The General for $1.7 billion

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Sentry Insurance has completed its acquisition of The General from American Family Insurance.

The $1.7 billion transaction, first announced in September, represents the largest acquisition in Sentry’s 120-year history, according to a press release from the company.

“The acquisition strengthens Sentry’s position in the NSA (non-standard auto insurance) market by combining the expertise and reputations of its Dairyland brand and The General,” the release states. “Moving forward, the company will adopt The General as its primary brand for the NSA market, creating a single, stronger presence in the industry.”

The General’s associates officially joined Sentry’s workforce on Jan. 1. The General will keep its office in Nashville, Tennessee to ensure continuity for employees and customers during the transition, according to the release.

“This marks an exciting new chapter for Sentry and The General,” said Pete McPartland, Sentry chairman and CEO, in the release. “By bringing together Dairyland’s independent agent network and The General’s direct-to-consumer expertise, we’re uniquely positioned to offer greater flexibility and accessibility to drivers across the U.S. I’m thrilled to welcome The General’s 1,300 associates to the Sentry team and look forward to what we’ll achieve together.”

When the acquisition plan was announced in September, American Family Insurance Chair and CEO Bill Westrate said The General grew its revenue more than fivefold and 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,” he said in a press release at the time. “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.”

Images

Featured image: Logo provided by American Family Insurance and The General

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