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About American Family Mutual Insurance Company, S.I.

American Family Mutual Insurance is a property/casualty company. The company and its subsidiaries provide personal and commercial property/casualty insurance across the US, with coverage including auto, homeowners, travel, farm and ranch, retail business, and commercial liability. It also offers life insurance and annuities and supplemental health plans. Policies are underwritten by subsidiaries known collectively as the American Family Insurance Group, including American Standard Insurance, American Family Life Insurance Company (AFLIC), and Permanent General (The General), In addition, American Family offers Medicare Supplement products through a relationship with Aetna.


American Family primarily earns its revenue through sales of property/casualty policies and life insurance policies and via investment income.

Property/casualty policies written for personal and commercial applications account for the majority (nearly 90%) of American Family's annual revenue. Offerings include auto, homeowners, marine, motorcycle, farm, and business liability and property coverage.

Life insurance offerings account for less than 5% of sales. Term, universal, and whole life policies, as well as fixed annuities, are written directly through the AFLIC subsidiary.

The remainder of revenue comes from investment income and other income.

Geographic Reach

In addition to its Madison, Wisconsin, headquarters' location, American Family has regional offices in Denver; Eden Prairie, Minnesota; St. Louis and St. Joseph, Missouri; and Phoenix.

The company sells its American Family insurance products in 19 states. The Main Street America unit sells policies in more than 45 states and Washington, DC, while Ameriprise Auto & Home distributes its offerings in about 45 states and Washington, DC.

Sales and Marketing

The company sells its American Family insurance products through a network of some 2,400 exclusive independent agents. Its Homesite and The General units offer products to customers via telephone or the internet. The Main Street America unit sells through independent agents, while Ameriprise Auto & Home distributes its offerings through partners (including Costco).

Financial Performance

In 2019 revenue rose 20% to $12.2 billion mainly due to higher property/casualty premiums (20% growth) and larger net investment income (25%), followed by growth in other income (5%) and life premiums (2%).

Net income nearly doubled in 2019 to some $455.9 million due to higher revenue and a $308.3 million increase in realized capital gains, despite an increase in benefits paid and expenses.

Unlike some of its industry peers, American Family has no plans to demutualize and has steadily grown its equity and assets. The company has total assets of some $31 billion and $9.8 billion in customer equity, which helps buffer the firm against unexpected losses. The company held $2.3 billion in cash and equivalents in 2019.


American Family is employing a new enterprise strategic plan that not only drives business results that provide products and services customers want, but also be able to provide opportunities for its people and serve the communities where people live and work.

American Family's acquisition of Ameriprise Auto & Home in 2019 marked another chapter in its transformation to reach and serve more customers on its terms. In 2020, the company renamed Ameriprise Auto & Home to CONNECT. The addition of CONNECT continues American Family's ongoing transformation from a regional insurance company that initially sold its products through exclusive agency owners only to a national multi-line, multi-distribution channel insurance group.

American Family also expands organically by launching new products. To improve customer access, the company partnered with Votaire to provide online access to its AFLIC life insurance offerings in 2019.

Mergers and Acquisitions

In early 2019, American Family acquired Ameriprise Auto & Home (AAH), a Wisconsin-based property/casualty insurer that primarily sells its products through a partnership with Costco, for about $1.05 billion. AAH will operate as a subsidiary under its existing name until a new name is chosen. The acquisition also broadens American Family's business on a geographic basis and strengthens its financial position.

Company Background

In 1927 Herman Wittwer founded Farmers Mutual Automobile Insurance to sell coverage to Wisconsin farmers. It expanded to cover non-farmers and moved into additional states in the 1930s and 1940s, and it added life, accident, homeowners, and nonstandard auto insurance in the 1950s and 1960s. To recognize its diversification, the company changed its name to American Family Mutual Insurance in 1963. It formed a brokerage unit in the 1980s. 

Although not a terribly acquisitive group, the firm does occasionally buy smaller insurers to add to its areas of coverage and enter new geographies. Purchases include Permanent General (2012) and Homesite (2013).

American Family Mutual Insurance Company, S.I.

6000 American Pkwy
Madison, WI 53783-0001
Phone: 1 (608) 249-2111

Firm Stats

Employer Type: Privately Owned
CFO and Treasurer: Daniel J. Kelly
CIO: Kristin R. Kirkconnell
Chairman, President, and CEO: Jack C. Salzwedel
Employees (This Location): 3,000
Employees (All Locations): 8,100

Major Office Locations

Madison, WI

Other Locations

Apache Junction, AZ
Phoenix, AZ
Prescott, AZ
Sun City, AZ
Denver, CO
Englewood, CO
Loveland, CO
Spirit Lake, IA
West Des Moines, IA
Winthrop, IA
Eagle, ID
Idaho Falls, ID
Chicago, IL
Crystal Lake, IL
Joliet, IL
Schaumburg, IL
Silvis, IL
Stone Park, IL
Wilmington, IL
Hammond, IN
Indianapolis, IN
South Bend, IN
De Soto, KS
Pratt, KS
Baker, LA
Covington, LA
Greensburg, LA
Hammond, LA
Houma, LA
Kenner, LA
Lafayette, LA
Metairie, LA
Slidell, LA
Walker, LA
Okemos, MI
Eden Prairie, MN
Glencoe, MN
Hermantown, MN
Northfield, MN
South Saint Paul, MN
Blue Springs, MO
Kansas City, MO
Lees Summit, MO
Liberty, MO
Maryland Heights, MO
Monroe City, MO
Saint Joseph, MO
Sedalia, MO
Springfield, MO
Stockton, MO
Bottineau, ND
North Platte, NE
Omaha, NE
Columbus, OH
Gettysburg, SD
Bellevue, WA
Issaquah, WA
Puyallup, WA
Deerfield, WI
Janesville, WI
Madison, WI
Pewaukee, WI
Wausau, WI