XL Group Acquires Global Ag Insurance Services

(RTTNews) - XL Group plc (XL) said Wednesday that its subsidiary XL Reinsurance America Inc. has acquired Global Ag Insurance Services, a crop insurance provider based in the western United States.

The two companies initially partnered in 2011 to deliver crop insurance solutions to western specialty crop producers and growers through the USDA multi-peril crop insurance program. Recognizing that conventional risk management and crop insurance solutions were not typically designed to address the needs of producers in the region, the two companies built a specialized platform to offer an alternative to growers and agents in the western United States. As larger existing carriers dealt with adverse events in the Midwest in 2012 and again in 2013, Global Ag was well-positioned with western U.S. crop producers. As a result the company experienced strong growth throughout the region.