Ameriprise has sold its auto and home insurance business so that it can better focus on wealth management, according to a press release.

The deal is “consistent with Ameriprise’s strategic focus on its core growth areas of advice and wealth management and asset management,” according to the release.

American Family Insurance bought Ameriprise Auto & Home, which primarily sells property and casualty insurance.

While the deal size is $1.05 billion, after payment to what the company calls an “affinity partner,” Ameriprise stands to receive $950 million. The final deal may be subject to certain post-closing financial adjustments, says the release.

“This transaction is consistent with our strategy to grow our less capital-intensive businesses and is expected to reduce our risk profile and increase capital flexibility,” says Ameriprise chairman and CEO Jim Cracchiolo in the release.

In 2018, pre-tax adjusted operating earnings for the auto and home unit stood at a negative $10 million, although for the last quarter of the year the unit netted $3 million. Despite gross catastrophic losses of $62 million, mainly from California wildfires, the net losses after reinsurance payouts were muted to $12 million. This helped AAH in the last quarter of 2018. Auto and home premiums for 2018 were $1.04 billion.

AAH primarily offered its insurance products through partners like Costco, members of the latter accounting for “93% of all new policy sales of our Property Casualty companies in 2018,” says the Ameriprise 2018 annual report.