Swiss insurance company Zurich Insurance Group is acquiring Wells Fargo’s crop insurance business, Rural Community Insurance Services (RCIS).
RCIS is one of the nation’s largest crop insurance providers, with market share estimated between 15 and 20 percent. The company has more than 4,000 agents nationwide and provides risk management for more than 130 varieties of crops on more than 90 million acres.
Zurich is paying just over $1 billion for RCIS. The acquisition is expected to be final by the end of the first quarter of 2016.
Source: www.brownfieldagnews.com