Willkie, Foley Seal $616M Home Insurer Merger

Law360, New York (September 5, 2013, 1:57 PM EDT) -- American Family Insurance has agreed to buy Homesite Group Inc. for $616 million, an insurance tie-up announced Thursday that cashes out Homesite's private equity backers. 

Sellers of Boston-based Homesite, which provides homeowners, renters and condo insurance policies, include insurers Alleghany Corp. and The Plymouth Rock Co. and Morgan Stanley Capital Partners successor Metalmark Capital.

The deal, which is set to close by the end of the year, combines Homesite's direct-writing business with American Family's network of agents peddling policies from other underwriters, along with direct-written policies....
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