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 Agency (RCIC) from Wells Fargo Insurance for $700m ; the around two-thirds crop businesses are among the country's largest crop insurance providers, reporting around $1.9bn in gross written premiums in 2015 , which is about 20% of the estimated $10bn market. Rural Community Insurance Agency says the sale will allow it to focus on and strengthen its distribution businesses, which account for two of its insurance revenue.