Everest Re completes sale worth $49 million

25-08-2016

Everest Re Group has finalised the sale of its US crop managing general agent (MGA), Heartland Crop Insurance, to CGB Diversified Services (CGB DS) for $49 million.

In conjunction with the sale, Everest has entered into a strategic long term reinsurance relationship with CGB DS, to provide quota share reinsurance capacity on the combined crop insurance portfolio of the Diversified/Heartland companies.

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

Everest Re Group, Bermuda, Insurance, Heartland Crop Insurance, M&A, Risk management

Bermuda Re