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The Switzerland insurance giant paid $700 million to Wells Fargo & Co. to buy Rural Community Insurance Services.

Switzerland-based Zurich Insurance Group said that it has completed its previously announced $700 million acquisition of Anoka, Minn.-based crop insurer Rural Community Insurance Services, or RCIS.

Zurich entered into the agreement to buy RCIS from San Francisco-based financial services company Wells Fargo & Co. on Dec. 18.

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