American Family reports 22% increase in net earnings

After a rocky start to 2011 thanks to some catastrophic weather events, American Family Insurance has bounced back with a 22.1% increase in net earnings in 2012. 2011 was particularly bad and included $1.2 billion in damage claims from Midwestern storms. In 2012, the Madison-based insurance giant reported a net income of $360.5 million compared to $295.2 million in 2011. Assets in 2012 totaled $17.9 billion, a 4.6% increase year over year.  The insurance company also added $579.1 million to its policyholder equity.