Announced
Completed
Financials
Tags
United States
Domestic
Property and Casualty Insurance
Acquisition
Majority
crop insurance
Friendly
Single Bidder
Private
Completed
Synopsis
American Financial Group, an insurance holding company, completed the acquisition of Crop Risk Services, a primary crop insurance general agent, from American International Group, a global insurance organization, for $240m. “We are very pleased to welcome CRS and its approximately 450 employees to AFG’s Great American Insurance Group. This business is a great strategic fit with our existing crop insurance operations and will provide the opportunity to continue to benefit from economies of scale. Following the transaction, Great American will remain the #5 ranked writer of US crop insurance and the largest US-owned participant in the United States multi-peril crop insurance program," Carl H. Lindner III, AFG Co-Chief Executive Officer.
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