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A John Deere tractor in action.
(Bloomberg) — Deere & Co., the world’s largest manufacturer or agricultural machinery, agreed to sell its crop insurance segment to Farmers Mutual Hail Insurance Co. of Iowa, retreating from a business that suffered years of losses.

The sale comprises John Deere Insurance Co. and John Deere Risk Protection, Moline, Illinois-based Deere said today in a statement. No terms were disclosed.

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