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. Register Now Already have an account? Sign In Now
Zurich American Insurance has completed its acquisition of Rural Community Insurance Agency ( RCIA ) and its subsidiary Rural Community Insurance Co ( RCIC ) from Wells Fargo Bank for $ 700 million ; the two crop businesses are among the country 's largest crop insurance providers , reporting around $ 1.9bn in gross written premiums in 2013 , which is about 20 % of the US $ 10bn market . Wells Fargo says the sale will allow it to focus on and strengthen its distribution businesses , which account for around two - thirds of its total revenue .