American Family Insurance Elects Two Officers

Schultz will become chief financial officer, Loper named to new vice president position

Madison, Wis. (May 23, 2006) — The Board of Directors of American Family Mutual Insurance Company has elected Daniel R. Schultz as chief financial officer (CFO) and treasurer, and Dennis Loper as vice president, property casualty loss reserving. Both will assume their new responsibilities Aug. 1.

Schultz will succeed Executive Vice President J. Brent Johnson, who is retiring later this year. Schultz joined American Family in 1977 and has served as vice president of the company’s controller division since 1999.

“Dan Schultz is highly qualified to serve as our CFO because of his extensive experience in key areas of the company’s financial operations,” said Dave Anderson, president and chief operating officer. “Over the years, he has developed a clear understanding of our business and what we must do to remain a key player in our industry.”

As CFO, Schultz will have executive oversight for the company’s controller, loss reserves, investments and internal audit functions. Schultz earned a master’s degree in business administration and bachelor’s degree in accounting from the University of Wisconsin-Madison.

Loper was promoted to fill the newly created position of vice president, property casualty loss reserving. He began his career at American Family in 1989 and has served as director of loss reserving and product analysis since 2002.

“The creation of this officer-level position recognizes the critical role that accurate loss reserving plays in the success of our company,” Anderson said. “Dennis has done an outstanding job as director of our loss reserving for several years.”

Loper holds bachelor’s degrees in actuarial science, and risk and insurance from UW-Madison. He is a Fellow in the Casualty Actuarial Society and a member of the American Academy of Actuaries.