Acceptance Insurance Companies Inc. and IGF Insurance Company came to terms on a definitive agreement for American Agrinsurance and other Acceptance affiliates to buy the crop insurance assets of IGF Insurance Company for cash as well as and the assumption of some insurance and reinsurance contracts to be decided before closing.
The purchase is subject only to customary conditions and regulatory approvals, which the companies figure to obtain before the end of June. Directors of all affected companies have given the go-ahead on the agreement.
Dating back to January 2000, Acceptance has sold a number of its property/casualty insurance operations, including a transaction earlier in May.
Topics Mergers & Acquisitions Carriers
Was this article valuable?
Here are more articles you may enjoy.
Chubb Wins Latest Battle With New York Diocese in Bid to Avoid Sex Abuse Claims 
GM Ends OnStar Driver Safety Program After Privacy Complaints 
Marsh McLennan Agency to Buy Fisher Brown Bottrell for About $316M 
North Carolina Adjuster and Son Charged With Embezzlement in Roof Jobs 
