Producers Ag Insurance Group Inc. (ProAg), a member of the Tokio Marine HCC group of companies, has agreed to acquire crop managing general agent, West Des Moines, Iowa-based International Ag Insurance Solutions LLC (International Ag).
The transaction, which is subject to a number of closing conditions including final approvals by certain International Ag members and regulatory authorities, is expected to close by April 3, 2017.
International Ag manages multi-peril crop, crop hail and named peril crop insurance. In 2016, the company managed gross premiums of $67.4 million, as reported by National Crop Insurance Services (NCIS).
ProAg is headquartered in Amarillo, Texas, with seven offices spread across the United States. ProAg employs approximately 400 people supporting crop insurance operations in 41 states.
Headquartered in Houston, Tokio Marine HCC is a specialty insurance group with offices in the United States, the United Kingdom, Spain and Ireland.
Source: Producers Ag Insurance Group Inc.
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