US-based Deere & Company has completed the divestment of its crop insurance business to Farmers Mutual Hail Insurance Company of Iowa (FMH).

The deal was first announced in December 2014.

As part of the deal, FMH has acquired both John Deere Insurance Company and John Deere Risk Protection.

At the time of acquisition, John Deere Insurance Company and John Deere Risk Protection president Don Preusser said: "We are confident that customers of John Deere crop insurance will be well served with this action.

"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."

Established in 1893, FMH provides comprehensive risk management solutions, including private and federal crop insurance, reinsurance products and services. It also offers farm and ranch insurance that comprises auto, property and liability coverage.