Aspen Insurance Holdings has acquired US-based crop insurer AgriLogic Insurance Services and its certain affiliates.
Terms of the deal have not been disclosed.
Based in Kansas, AgriLogic is a specialist crop business that provides customized risk management solutions to the agricultural community.
According to Aspen, AgriLogic is specialized in providing product and policy design and development services across the US and also internationally.
The company provides multi-peril crop insurance and private products, as well as pasture and livestock products.
AgriLogic has generated gross written premiums of around $185m in 2015.
As part of the deal, Aspen will include AgriLogic in its existing reinsurance operations, while its president and CEO Joe Davis will continue to run the business and reports to Aspen Re chairman Brian Boornazian.
Joe Davis said: "AgriLogic is committed to building long term relationships with crop insurance agents and agricultural producers."
Aspen Group CEO Chris O’Kane said: "AgriLogic has an excellent reputation, which reflects the intellectual capital, technical and risk management expertise within the company, supported by robust infrastructure.
"Like Aspen, it is also a best in class underwriting company. We know the company and its management well, having provided reinsurance support to the business over a number of years."
Through its subsidiaries, Aspen offers reinsurance and insurance services in Australia, Bermuda, France, Germany, Ireland, Singapore, Switzerland, the UK and the US.
Image: Aspen has acquired AgriLogic Insurance Services. Photo: courtesy of Stoonn / FreeDigitalPhotos.net.