Main Street America Insurance is breaking out of personal lines

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

The Jacksonville, Fla.-based insurer, founded about 100 years ago in Keene, New Hampshire, said it is “narrowing” its focus and moving toward what it called a “tremendous opportunity” in commercial lines.

“Main Street America doubles down on commercial lines and clearly defines our future direction in the market,” Chris Listau, chairman and CEO, said in a statement.

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

The insurer, which became part of Madison, Wis.-based American Family Insurance Mutual Holding Co. in 2018, said the focus 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 in the US. The company said it takes in more than $1.1 billion in annual premium, all through independent agents.

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

Attempts to reach Main Street America for additional information were referred to American Family, which said the information it could provide was in the news release.

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

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 combined ratio in 2023 was 97.3.

In 2020, Main Street America Group became Main Street America Insurance.

According to local news sources, Main Street America put its Keene office building up for sale earlier this year. The company said it plans to continue operating in Keene but doesn’t need the large building after adopting a hybrid workplace in the wake of the pandemic.