08:37 AM

American Family moves up five spots in Fortune 500 rankings


American Family moves up five spots to 306 from 311 last year.

American Family has moved up to 306 on the Fortune 500 list from 311 last year. This increase reflects the company’s strong revenue and continues a steady rise up the rankings. Since 2014, the company has moved up 52 spots.

Fortune bases its rankings on total revenues, including earned premium, investment income, net realized capital gains and other income.

The higher ranking reflects growth across the American Family enterprise, including a merger with Jacksonville, Florida-based Main Street America, which closed in October 2018. Group revenue increased to $10.3 billion in 2018 from $9.5 billion in 2017.

“Solid premium growth across all our companies plus the merger near the end of the year, all helped us move up the list,” said Dan Kelly, chief financial officer. “Our financial strength as a true national enterprise allows us to take care of even more customers while investing in our agents, employees, new technology and our communities.”

The Fortune 500 ranking requires the use of Generally Accepted Accounting Principles (GAAP). American Family first used GAAP in 1996, and first appeared on the Fortune 500 list at No. 403 in 1997.

This year’s Fortune 500 marks the 65th running of the list. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $13.7 trillion in revenues, $1.1 trillion in profits, $22.6 trillion in market value, and employ 28.7 million people worldwide.

About American Family Insurance
Madison, Wisconsin-based American Family Insurance group is the nation's 13th-largest property/casualty insurance group and ranks No. 306 on the Fortune 500 list. The company sells American Family-brand products, including auto, homeowners, life, business and farm/ranch insurance, primarily through its exclusive agents in 19 states. American Family affiliates (The General and Homesite) also provide options for consumers who want to manage their insurance matters directly over the internet or by phone. Affiliate Main Street America sells insurance products through independent agents. Web; Facebook; Twitter