Ameriprise to sell auto and home insurance unit for $1.05 billion

~ Alfred Serrano

Ameriprise Financial Inc. is selling its property and casualty insurance business for $1.05 billion, the Minneapolis-based company announced Tuesday.

A subsidiary of Madison, Wis.-based American Family Insurance Mutual Holding Co. is buying Ameriprise Auto & Home, which is based in De Pere, Wis. The net proceeds to Ameriprise will be about $950 million.

Ameriprise, which originally bought the insurance business in the 1980s, is looking to focus more on asset and wealth management. The company…

from Fort Lauderdale Real Estate News & Residential Real Estate News – Residential Real Estate News Headlines | Bizjournals.com & Banking & Financial News – Banking & Financial News Headlines | Bizjournals.com http://feeds.bizjournals.com/~r/industry_2/~3/TKwr-N3aQP8/ameriprise-agrees-to-sell-auto-and-home-insurance.html
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Published by Alfred Serrano

Selling luxury homes is my job and this is what I love to do. I am dedicated to ensuring that all transactions proceed in a smooth, satisfying, and positive manor, from beginning to end, in order to make home buying a pleasant experience for you.

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