Farmers Mutual Hail acquires AXA XL-owned crop insurance provider
Farmers Mutual Hail acquires AXA XL-owned crop insurance provider | Insurance Business America
Insurance News
Farmers Mutual Hail acquires AXA XL-owned crop insurance provider
Partnership “couldn’t come at a better time,” CEO says
Insurance News
By
Kenneth Araullo
Farmers Mutual Hail Insurance Company of Iowa (FMH) has announced its acquisition of Global Ag Insurance Services, a subsidiary of AXA XL known for its services in the crop insurance sector.
Global Ag, based in the western United States, specializes in offering a broad range of crop insurance solutions, encompassing the USDA multi-peril crop insurance program as well as a variety of specialty private and named peril products tailored to the distinctive needs of agricultural producers and growers.
Shannon Rutledge, president and CEO of FMH, expressed enthusiasm about the acquisition, noting its significance in FMH’s ongoing efforts to broaden and diversify its national presence.
“I am excited about this partnership and the impact it will have as we continue to expand and diversify our national footprint,” Rutledge said. “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.”
Further elaborating on the strategic benefits of the acquisition, Rutledge pointed out its alignment with FMH’s objective to establish itself as a premier provider of comprehensive farm insurance solutions across the United States. The initiative is set to enhance FMH’s engagement with specialty crop producers and agents, building on the relationships established by Global Ag.
Jordan Roach, CEO of Global Ag, also shared his optimism regarding the merger, emphasizing the timely nature of the deal amid escalating demand for specialty crop risk management solutions.
“This partnership couldn’t come at a better time as we continue to see year-over-year growth and increased demand for specialty crop risk management solutions,” Roach said. “FMH’s impressive track record and long-standing dedication to crop insurance will serve our customers well.”
With its headquarters in West Des Moines, Iowa, FMH boasts an extensive history of serving the American agricultural community since 1893. Managed by the same family for over 130 years, FMH has developed a deep portfolio of risk management services, including both private and federal crop insurance, reinsurance, and brokerage services.
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