American Family Insurance Group Fortune 500 Company

It does sound like a term that is universally applicable in all contexts. However, American Family Insurance is actually an insurance organization that provides different kinds of insurance for American citizens. This organization deserves a generous amount of credit, considering that it is one of the most successful insurance companies and also because of the fact that it covers most of the fields that can be covered by insurance in the present day.

The American Family Insurance (abbreviated as AmFam) is actually a group including a number of subsidiary organizations. The primary organization, covering mainly insurance, has achieved the status of being a Fortune 500 Company. Its annual revenues in the twenty-first century have been in terms of billions of U.S. Dollars. The exact figures for the year 2006 are 6.7 billion U.S. Dollars as revenue.

The subsidiary companies included under the American Family Insurance Group are the American Family Mutual Insurance Company (abbreviated as AFMIC), American Family Securities, American Family Brokerage Inc., and American Standard Insurance Company (abbreviated as ASIC), to name a few. As subsidiary components of the group, these contribute to the net revenue procured by the entire group. The AFICO and ASICO subsidiaries are Ohio subsidiaries belonging to this group.

The American Family Insurance Group officially came into being in the year 1963, when its predecessor, Farmers Mutual Insurance Company, changed its official name to this. Farmers Mutual was originally established as far back as the year 1927. Its founder was Herman Wittwer. Today, the chief executive officer of AmFam is David Anderson. Farmers Mutual, interestingly, was initially a small-scale venture that had its client base mainly among farmers and provided auto insurance as the only service.

The new name of the Farmers Mutual Insurance Company is a reflection of the titanic broadening of its customer base in the duration of half a century. Today, the American Family Insurance Group has moved well beyond the status of providing only auto insurance. The different kinds of insurance services that the company provides include health insurance, accident insurance, auto insurance, insurance of property, life insurance and even retirement plans. Investment plans have also been incorporated into the services to extend its client base to the corporate hemisphere.

The headquarters of this company are situated at Madison in Wisconsin. Apart from standard services like personal insurance, the American Family Insurance Group also covers business insurance policies. The company has also made a significant mark in the world of charity. In the year 2003, it made a gargantuan investment of ten million dollars as a gift to establish the American Family Childrens Hospital. The area selected for the venture selected was a wing of the Wisconsin University Hospital and Clinics. American Family Insurance