American Family completes acquisition of Ameriprise Auto & Home

American Family Insurance said Tuesday it has completed the $1.1 billion purchase of Ameriprise Auto & Home and promoted Jessie Stauffacher to run its newest subsidiary.

De Pere-based Ameriprise Auto & Home was a business unit of Ameriprise Financial, offering auto, homeowners, renters, umbrella and some specialty lines policies, mainly through a partnership with wholesale retailer Costo and via referrals from Ameriprise Financial advisers. 

“This acquisition marks another chapter in our transformation to reach and serve more customers on their terms,” Bill Westrate, enterprise president of American Family, said in a statement. “We continue to invest in our American Family agency owners for the many customers who value their personal service and advice, while providing alternatives for customers who choose to handle their insurance matters in other ways.”

Westrate said the acquisition also broadens Madison-based American Family’s customer base on a geographic basis, which diversifies and further reduces the concentration of the insurer's exposure to Midwestern storms. 

Ameriprise Auto & Home sells insurance in 43 states and the District of Columbia. The majority of its business is in Western states, with most of its premium generated in California from auto insurance. About 70% of its premium is from auto insurance sales.

Ameriprise Auto & Home employs approximately 1,800 people.

Stauffacher, chief operating officer at American Family Insurance since 2017, will lead Ameriprise Auto & Home as president and chief executive officer, succeeding Tom Ealy, who is retiring as president and CEO but will serve as a consultant through year-end, American Family said.

Sharena Ali also joins Ameriprise Auto & Home in the newly created position of chief operating officer, the company said. Ali has been senior vice president of partner distribution at Homesite, an American Family subsidiary that sells property insurance through partners. She joined Homesite in 2016 after leadership roles at AIG, Travelers and Progressive, American Family said.

Ameriprise Auto & Home becomes a subsidiary within the American Family Insurance group under its existing name until a new name is approved by regulators. Customers will retain their policies with no change in coverage or service. In addition, Ameriprise Auto & Home operations and employees will continue to serve those customers, American Family said.

While Stauffacher has been with American Family for 15 years, she started her insurance career at Ameriprise Auto & Home as a claims adjuster, American Family said.

“In many ways, I feel like I’ve come home — both to AAH and to Green Bay,” she said. “I’m honored to work alongside a top-notch team of employees who have the talent and passion to serve customers and partners."

American Family is the leading insurer of autos and homes in Wisconsin.

Paul Gores can be reached at  paul.gores@jrn.com.  Follow him on Twitter @pgores.