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 International Ag Insurance coverage Providers, a subsidiary of AXA XL identified for its providers within the crop insurance coverage sector.

International Ag, primarily based 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 non-public and named peril merchandise tailor-made to the distinctive wants of agricultural producers and growers.

Shannon Rutledge, president and CEO of FMH, expressed enthusiasm in regards to 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’s going to have as we proceed to increase and diversify our nationwide footprint,” Rutledge mentioned. “The regional experience, information, and accomplishments that the International 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 ascertain itself as a premier supplier of complete farm insurance coverage options throughout the US. The initiative is ready to reinforce FMH’s engagement with specialty crop producers and brokers, constructing on the relationships established by International Ag.

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

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

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

What are your ideas on this story? Please be happy to share your feedback beneath.