Farmers Mutual Hail acquires AXA XL-owned crop insurance coverage supplier

Farmers Mutual Hail Insurance coverage Firm of Iowa (FMH) has introduced its acquisition of World Ag Insurance coverage Companies, a subsidiary of AXA XL recognized for its providers within the crop insurance coverage sector.

World Ag, based mostly within the western United States, focuses on providing a broad vary of crop insurance coverage options, encompassing the USDA multi-peril crop insurance coverage program in addition to a wide range of specialty personal and named peril merchandise tailor-made to the distinctive wants of agricultural producers and growers.

Shannon Rutledge, president and CEO of FMH, expressed enthusiasm concerning the acquisition, noting its significance in FMH’s ongoing efforts to broaden and diversify its nationwide presence.

“I’m enthusiastic about this partnership and the impression it would have as we proceed to increase and diversify our nationwide footprint,” Rutledge stated. “The regional experience, information, and accomplishments that the World Ag group brings with them will contribute to our long-term technique of strengthening and enhancing our core crop insurance coverage enterprise.”

Additional elaborating on the strategic advantages of the acquisition, Rutledge identified its alignment with FMH’s goal to determine itself as a premier supplier of complete farm insurance coverage options throughout the USA. The initiative is ready to reinforce FMH’s engagement with specialty crop producers and brokers, constructing on the relationships established by World Ag.

Jordan Roach, CEO of World Ag, additionally shared his optimism concerning the merger, emphasizing the well timed nature of the deal amid escalating demand for specialty crop threat administration options.

“This partnership couldn’t come at a greater time as we proceed to see year-over-year progress and elevated demand for specialty crop threat administration options,” Roach stated. “FMH’s spectacular monitor report and long-standing dedication to crop insurance coverage will serve our prospects properly.”

With its headquarters in West Des Moines, Iowa, FMH boasts an intensive historical past of serving the American agricultural neighborhood since 1893. Managed by the identical household for over 130 years, FMH has developed a deep portfolio of threat administration providers, together with each personal and federal crop insurance coverage, reinsurance, and brokerage providers.

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