Japanese insurance company Sompo Holdings to buy U.S. crop insurer from CGB Enterprises

Sompo Holdings Inc

Japanese insurance company Sompo Holdings Inc will pay $380 million to $470 million to buy Diversified Crop Insurance Services, the US crop insurance unit of U.S. grain shipper CGB Enterprises Inc.

The acquisition will make Sompo Holdings Incg one of the largest crop insurance providers globally, with combined gross written premiums of over $2 billion, Reuters reported.

It is to be noted that Sompo already owns ARMtech, the sixth-biggest underwriter of U.S. crop insurance.

Editorial Desk at Agrigate.Global

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