Zurich to Acquire Crop Insurer RCIS from Wells Fargofor $675M to $1.05B

SCHAUMBURG, Ill.--(BUSINESS WIRE)-- Zurich American Insurance Company (ZAIC), a subsidiary of Zurich Insurance Group, has entered into an agreement with Wells Fargo & Company WFC under which it will acquire 100 percent of Rural Community Insurance Agency, Inc. (RCIA) and its subsidiary Rural Community Insurance Company (RCIC). The two are collectively known as Rural Community Insurance Services (RCIS), one of the nation's largest crop insurance providers, recording approximately $2.1 billion in gross written premiums in 2014. The acquisition expands and diversifies Zurich's portfolio of commercial insurance products and services in North America. "Zurich has been a part of American business for more than 100 years, and that means we understand the importance of farmers and the See full press release