American Family has moved up to 306 on the Fortune 500 list from 311 last year. This increase reflects the company’s strong revenue and continues a steady rise up the rankings. Since 2014, the company has moved up 52 spots.
Fortune bases its rankings on total revenues, including earned premium, investment income, net realized capital gains and other income.
The higher ranking reflects growth across the American Family enterprise, including a merger with Jacksonville, Florida-based Main Street America, which closed in October 2018. Group revenue increased to $10.3 billion in 2018 from $9.5 billion in 2017.
“Solid premium growth across all our companies plus the merger near the end of the year, all helped us move up the list,” said Dan Kelly, chief financial officer. “Our financial strength as a true national enterprise allows us to take care of even more customers while investing in our agents, employees, new technology and our communities.”
The Fortune 500 ranking requires the use of Generally Accepted Accounting Principles (GAAP). American Family first used GAAP in 1996, and first appeared on the Fortune 500 list at No. 403 in 1997.
This year’s Fortune 500 marks the 65th running of the list. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $13.7 trillion in revenues, $1.1 trillion in profits, $22.6 trillion in market value, and employ 28.7 million people worldwide.