Crop insurance provider Farmers Mutual Hail Insurance Co. of Iowa has acquired California-based Global Ag Insurance Services, expanding FMH's presence in the specialty crop sector.
Global Ag, previously a subsidiary of insurance company AXA XL, "offers crop insurance solutions through the USDA multi-peril crop insurance program as well as specialty private and named peril products designed to meet the unique needs of crop producers and growers," a press release says..
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"I am excited about this partnership and the impact it will have as we continue to expand and diversify our national footprint," said Farmers Mutual Hail CEO and President Shannon Rutledge."The regional expertise, knowledge, and accomplishments that the Global Ag team brings with them will contribute to our long-term strategy of strengthening and enhancing our core crop insurance business.”
Dave DeCapp, senior vice president of marketing for Farmers Mutual Hail, said it is not disclosing the purchase price.
Global Ag and Farmers Mutual Hail are two of 13 companies authorized by the Agriculture Department to provide crop insurance coverage in 2024.
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