Ace Group says it has started an agriculture P&C business, Ace Agribusiness to offer farm and ranch and specialty commercial insurance products and services to the 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 division of Rain and Hail Insurance Service, acquired by ACE in 2010.
“Unifying the Penn Millers commercial agricultural business and Rain and Hail's Farm and Ranch division under the new name–Ace Agribusiness–strengthens ACE's offerings in this segment. It also builds upon Ace's leading franchise, broadening our portfolio in this market, by bringing Ace's specialty commercial property and casualty expertise to agriculture businesses,” says Michael Coleman, division president of Ace Agriculture, in a statement.
Rain and Hail will continue to offer its comprehensive suite of crop products including multi-peril crop insurance, crop hail coverages, and named peril products specific to the agriculture market, under its existing name.
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