Nashville-based auto insurance company sells for $1.7B

Stevens Point, Wis.-based Sentry Insurance has announced it has finalized the $1.7 billion acquisition of Nashville's The General.

The seller of the locally based non-standard auto (NSA) insurance company was American Family Insurance, the headquarters for which is located in Madison, Wis.

First announced in September, the transaction represents the largest acquisition in Sentry's 120-year history.

According to a release, The General will maintain its Nashville office, with its roughly 1,300 employees joining Sentry's approximately 5,000-member workforce. The General is recognized, in part, for its television commercials offering an animated mustachioed military man and celebrity spokesman Shaquille O'Neal.

The acquisition will allow Sentry to bolster its NSA-focused (NSA insurance is for drivers who face challenges obtaining standard auto coverage) Dairyland, with the latter to adopt The General moniker as Sentry's primary brand for the NSA market.

"This marks an exciting new chapter for Sentry and The General," Pete McPartland, Sentry chairman and CEO, said in the release.

"By bringing together Dairyland's independent agent network and The General's direct-to-consumer expertise, we're uniquely positioned to offer greater flexibility and accessibility to drivers across the U.S."