Farmers Mutual Hail Insurance acquires John Deere Crop Insurance

Farmers Mutual Hail Insurance Company of Iowa (FMH) recently announced the signing of a definitive agreement to acquire John Deere Insurance Company and John Deere Risk Protection, Inc.

Ron Rutledge, FMH Chairman, President and CEO, commented, "I am very excited at the potential the combination of FMH and John Deere crop insurance creates. In addition to the advantages that greater scale and diversity bring, our similar company cultures focused around taking care of the customer means all of our policyholders will continue to enjoy the high level of service they've come to expect."

"We are confident that customers of John Deere crop insurance will be well served with this action," said Don Preusser, President of John Deere Insurance Company and John Deere Risk Protection, Inc.

"Farmers Mutual Hail has provided tailored crop insurance packages to farmers for more than 120 years. We believe the success and long tenure of FMH speaks volumes about their dedication to customer service."

The transaction is subject to regulatory review and approval. Closing is expected in the first quarter of the 2015 calendar year.