Hudson Insurance Group, the U.S. insurance division of Odyssey Re Holdings Corp., has purchased the assets pertaining to the crop insurance business of CropUSA Insurance Agency, Inc.
Since 2006 CropUSA has acted as managing general underwriter for Hudson in the crop insurance sector. As a result of this transaction, Hudson has hired the staff and acquired the portfolio of CropUSA. The business will now operate under the brand Hudson Crop, and will continue to be led by Kent Petersen, previously the president of CropUSA.
Hudson has been approved to sell multi peril crop insurance for the 2009 crop year by the RMA, the managing agency for the Federal Crop Insurance Corp. Hudson Crop will also write related products, including crop hail and named peril crop insurance.
Brian D. Young, CEO of Global Insurance Operations, said that crop insurance has become a “meaningful part” of Odyssey’s insurance portfolio, and this transaction will enhance its efforts to expand this class of business.
Hudson Insurance Group specializes in primary and excess insurance coverages through Hudson Programs, Hudson Healthcare and Hudson Financial Products. Hudson provides admitted and non-admitted insurance predominantly through Hudson Insurance Co. and Hudson Specialty Insurance Co.
Source: Hudson Insurance Group
Hudson Insurance Group
Topics Agribusiness
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