American Family to exit the Main Street America Insurance Bonds business

American Family to exit the Main Street America Insurance Bonds business

American Family today announced its intent to exit the Main Street America Insurance Bonds book of business via a renewal rights transaction with Nationwide. This will allow American Family to focus on its core businesses.

The structure of the transaction is for renewal rights, meaning Nationwide will quote and transition business as bonds and fidelity policies come up for renewal and new bonds (contract and commercial surety and fidelity) are requested.

Both companies are committed to a smooth and quick transition with a target close date of March 30.

For more information about Nationwide and Nationwide's ratings, visit www.nationwide.com or Company Ratings -- Nationwide.

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More about the Main Street America Insurance Bonds Business
Main Street America offers surety bonds and fidelity bonds throughout most of the United States. Main Street America Insurance has been in business for over 100 years, serving people in communities across the country. Main Street American has an "A" (Excellent) financial rating from A.M. Best, and is listed with the U.S. Department of the Treasury's Listing of Approved Sureties.

More about Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide is rated A+ by Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; and pet, motorcycle and boat insurance.

About American Family Insurance
American Family Insurance, a mutual holding company based in Madison, Wis., has been serving customers since 1927. We inspire, protect and restore dreams through our insurance products, exceptional service from our agency owners and employees, community investments and creative partnerships. American Family Insurance is the nation's 12th-largest property/casualty insurance company, ranking No. 202 on the Fortune 500 list. American Family has a current 'a+' credit rating through AM Best, and has distinction as a "Standing the Test of Time" company, which is represented by having an AM Best financial strength rating of 'A' or better for at least 75 years. The company offers American Family-brand products through a network of exclusive agency owners as well as nationwide through key strategic partnerships. American Family Insurance also includes Homesite and Main Street America Insurance. The company has approximately 10,500 employees nationwide.

For more information about Nationwide and Nationwide's ratings, visit www.nationwide.com or Company Ratings -- Nationwide.