Ace Group says it has started an agricultureP&C business, Ace Agribusiness to offer farm andranch and specialty commercial insurance products and services tothe agriculture market.

Ace Agribusiness, headquartered in Johnston,Iowa, is comprised of Penn Millers Insurance Company,acquired by Ace in 2011, and the Farm and Ranch divisionof Rain and Hail Insurance Service, acquired by ACE in 2010.

“Unifying the Penn Millers commercial agricultural business andRain and Hail's Farm and Ranch division under the newname–Ace Agribusiness–strengthens ACE's offerings in thissegment. It also builds upon Ace's leading franchise, broadeningour portfolio in this market, by bringing Ace's specialtycommercial property and casualty expertise to agriculturebusinesses,” says Michael Coleman, division president ofAce Agriculture, in a statement.

Rain and Hail will continue to offer its comprehensivesuite of crop products includingmulti-peril crop insurance,crop hail coverages, and named peril products specific to theagriculture market, under its existing name.