Main Street America Insurance Exits Personal Lines

Main Street America Insurance said Thursday it will stop offering personal lines insurance in favor of a commercial lines strategy.

The Jacksonville, Florida-based insurer founded about 100 years ago in Keene, New Hampshire said it is “tightening” its focus and leaning into what it called a “tremendous opportunity” in commercial lines.

“Main Street America is doubling down on commercial lines and clearly defining our future direction in the marketplace,” said Chris Listau, president and CEO, in a statement.

“As a trusted and respected brand in the independent agent channel, we’re continuing to move forward confidently in an area that enables us to take advantage of the incredible potential that exists in the commercial lines space,” Listau added. “This will further support our agents in solving the unmet needs of small business owners.”

The insurer, which became part of Madison, Wisconsin-based American Family Insurance Mutual Holding Co. in 2018, said concentrating on commercial lines will allow it to innovate and serve the market faster. Main Street America Insurance commercial insurance, as well as fidelity and surety bond products throughout the U.S. The company said it writes more than $1.1 billion in annual premium—all via independent agents.

“We’re excited to marry current market opportunities and a refined focus with the independent agency channel’s ability to dominantly handle complicated, complex risks often associated with commercial lines customers,” said Richard Vaughn, head of sales at Main Street America.

Attempts to reach Main Street America for additional information were forwarded to American Family, who said the information it could provide was in the press release.

According to industry rating agency AM Best, Main Street America Protection Insurance Co. and Main Street America Assurance Co. are each members of American Family Insurance Group, which holds a financial strength rating of A (Excellent). According to AM Best data, about 30% of Main Street America Protection’s book was commercial multiperil in 2023. The line accounted for more than 81% of Main Street America Assurance’s 2023 direct premiums.

With more direct premiums attributable to personal lines, Main Street Protection posted a combined ratio of 104.7 in 2023. Main Street America Assurance’s 2023 combined ratio was 97.3.

In 2020, Main Street America Group rebranded to Main Street America Insurance.

According to local news sources, Main Street America earlier this year listed for sale its Keene office building. The company said it planned to continue operating in Keene but did not need the large building after adopting a hybrid workplace following the pandemic.