Best’s News & Research Service - September 18, 2024 09:20 AM (EDT)
AM Best Comments on Credit Ratings of Sentry Insurance Company and its Subsidiaries Following Announced Acquisition of The General From American Family Insurance Group
- September 18, 2024 09:20 AM (EDT)
//BestWire// - AM Best has commented that the Credit Ratings (ratings) of Sentry Insurance Company and its wholly owned subsidiaries, collectively known as Sentry, are unchanged following the Sept. 12, 2024, announcement that it will acquire Permanent General Assurance Corporation of Ohio, General Automobile Insurance Company and Permanent General Assurance Corporation (collectively doing business as The General) from American Family Insurance Group. The transaction is expected to close by year-end 2024 and is subject to regulatory approvals.
Sentry provides comprehensive coverage for non-standard auto (NSA), motorcycle and off-road vehicles through its Dairyland brand. The General provides comprehensive coverage for NSA through a direct-to-consumer channel that is complimentary to Sentry’s independent agent network. Both brands will continue to operate independently as Sentry and The General work through the integration process.
AM Best does not expect the transaction to result in any material change to Sentry’s business operations or rating fundamentals. AM Best will continue to monitor developments as the transaction works through the regulatory approval process.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.