Everest Re Group has signed a letter of intent to acquire Heartland Crop Insurance regarding a potential acquisition of the Kansas-based Everest Reinsurance Holdings or one of its affiliates.

Everest Re said that the potential transaction remains subject to negotiation and execution of definitive agreements, and there can be no assurance that a definitive agreement will be entered into or that the discussions will result in a transaction.

Everest Re Group is a Bermuda holding company that operates through its subsidiaries Everest Reinsurance that provides reinsurance to property and casualty insurers in both the US and international markets

Everest Reinsurance Ireland provide reinsurance to non-life insurers in Europe. Everest National Insurance and Everest Security Insurance provide property and casualty insurance to policyholders in the US.