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Source: apnews.com
Ameriprise Financial (NYSE: AMP) has signed a definitive agreement with a subsidiary of Madison, American Family Insurance Mutual Holding Company for the sale of Ameriprise Auto & Home (AAH) business for $1.05 billion (cash). The move is in-line with Ameriprise’s strategic focus to grow its core areas of Advice & Wealth Management and Asset Management. Post transaction, AAH customers will retain their policies with no change in coverage or service. The deal is expected to close in the second half of 2019.
