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American Financial Group completed the acquisition of Crop Risk Services from AIG for $240m.

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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