In an effort to provide the best risk protection for ag producers in the High Plains region of Texas, Capital Farm Credit has acquired Ag Crop Insurance Agency.
Ag Crop, which has been family-owned and operated since 1997, will become part of CFC’s Insurance Services Group and remain located at its current offices in Stamford.
The acquisition will add 454 insurance customers, around $15 million to CFC’s insurance portfolio and eight employees and contractors to the Association.
"After multiple years of crop losses in the Plains amid challenging farm operating conditions, insurance providers are less willing to offer coverage to this vital area,” said Jeff Norte, CFC president and CEO. "Our goal is to continue to serve the necessary risk management needs of our producers, while serving as a long-term provider of critical crop insurance policies.”
CFC will utilize its existing relationships with approved insurance providers, which serve the insurance needs of customers not just in the Plains, but also across the state.
"We welcome the Ag Crop family to ours and will combine our forces to provide the vital insurance services that are crucial to our ag producers and their operations,” Norte said.
Source - https://www.manilatimes.net
