American Family Insurance, a P&C mutual insurance company, is acquiring PGC Holdings Corp. (Permanent General Co.s) and its subsidiaries, including non-standard auto insurers Permanent General and The General. Closing of the $239 million transaction is targeted for later this year, subject to regulatory approval.
American Family says Permanent General Co.s will remain a completely separate brand from American Family, and will continue to operate as a separate entity. Employee positions will be retained, and Randy Parker will continue in his role as Permanent General’s CEO.
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