American Family Renames Ameriprise Insurance as Connect

August 6, 2020

American Family Insurance has renamed the Ameriprise Auto & Home business that it paid almost $1 billion for in a deal that closed last October.

The new name is CONNECT, which is accompanied by the slogan: “Powered by American Family Insurance.”

American Family said the CONNECT rebrand furthers its goal of transforming from a regional insurance company that sold products through exclusive agency owners to a national multi-line multi-distribution channel insurance group.

State regulators recently approved the name change, according to an Aug. 4 American Family announcement. The CONNECT brand will cover products underwritten by American Family Connect Property and Casualty Insurance Co. and American Family Connect Insurance Co. A third American Family entity – The American Family Connect Insurance Agency, Inc. – places policies with affiliated and unaffiliated insurers.

Ameriprise Financial sold its Ameriprise Auto & Home division to American Family in April 2019. According to American Family, the $1.05 billion cash deal dipped to $950 million after a payment to an affinity partner. The insurer, based in De Pere, Wisconsin has 1,700-plus employees and produced $1.1 billion in annual direct premium written in 2019.

CONNECT sells auto, homeowners, renters, umbrella and some specialty insurance lines in 44 states and the District of Columbia, mostly through strategic partnerships. Those partnerships include wholesaler retailer Costco and Ameriprise Financial, the company said.

Jessie Stauffacher, chief operating officer at American Family Insurance since 2017, has been named CONNECT president and CEO, succeeding Tom Ealy, who retired. Stauffacher said in prepared remarks that the transition has “been seamless to our partners and customers, and exciting for our employees.”

Source: American Family

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