Bermuda-based specialty provider insurance provider Sompo International Holdings says it will acquire Diversified Crop Insurance Services.
Terms of the deal were not released.
The addition of Diversified Crop Insurance Services, a subsidiary of CGB Enterprises, will be part of Sompo International’s existing global AgriSompo platform, which already includes ARMtech, the sixth-largest underwriter of federally sponsored multi-peril crop insurance.
The acquisition will create one of the largest crop insurance providers worldwide, with combined gross written premiums of more than $2 billion in 2019.
Diversified Crop Insurance, which has an office in Jacksonville, was established in 1997. It is headquartered in Lenexa, Kansas.
“Since the formation of AgriSompo in 2017, Sompo International has been adding agriculture insurance businesses and capabilities around the world. The acquisition of Diversified strongly complements these efforts and reinforces Sompo International’s leadership and commitment to the agriculture insurance market on a significant scale,” said Kris Lynn, chairman of AgriSompo and senior vice president of global agriculture for Sompo International.
Bagikan Berita Ini
0 Response to "Bermuda-based firm acquiring Diversified Crop - Jacksonville Journal-Courier"
Post a Comment