Sentry Acquires The General in $1.7 Billion Deal
Deal News | Jan 14, 2025 | Re-Insurance News
Sentry Insurance, a US-based mutual insurance group, has finalized its acquisition of the non-standard auto insurance provider, The General, from American Family Insurance for $1.7 billion. This deal marks Sentry's most significant acquisition in its 120-year history. The General, located in Nashville, Tennessee, was previously acquired by American Family in 2012. Post-acquisition, The General is set to become Sentry's leading brand in the non-standard auto insurance sector, amalgamating with Sentry's Dairyland brand's capabilities. The General will retain its Nashville office and integrate its 1,300 employees into the Sentry workforce. Legal and financial guidance was provided by Sidley Austin LLP and J.P. Morgan, respectively. Pete McPartland, Chairman and CEO of Sentry, expressed excitement for the strategic merger, highlighting the enhanced flexibility and accessibility to drivers nationwide.
Sectors
- Insurance
- Financial Advisory
- Legal Advisory
Geography
- United States – The companies involved, Sentry Insurance and The General, are based in the United States.
- Tennessee – Nashville, Tennessee, is the base for The General, the company being acquired.
Industry
- Insurance – The acquisition revolves around companies operating in the insurance sector, specifically non-standard auto insurance.
- Financial Advisory – Involvement of financial advisory services by J.P. Morgan in the transaction.
- Legal Advisory – Legal advisory services provided by Sidley Austin LLP for the acquisition.
Financials
- $1.7 billion – Transaction value for the acquisition of The General by Sentry.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sentry Insurance | Bidding Company | Company | A US-based mutual insurance group acquiring The General. |
| The General | Target Company | Company | Non-standard auto insurance provider acquired by Sentry. |
| American Family Insurance | Selling Company | Company | Former owner of The General, sold it to Sentry. |
| Sidley Austin LLP | Legal Advisor | Company | Provided legal advice for the acquisition. |
| J.P. Morgan | Financial Advisor | Company | Acted as financial advisor for Sentry in the transaction. |
| Pete McPartland | CEO of Sentry | Person | Chairman and CEO of Sentry, leading the acquisition initiative. |