ACE Announces Launch of Agriculture Property & Casualty Business

Thu Apr 11, 2013 3:09pm EDT

* Reuters is not responsible for the content in this press release.

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130411:nBw116407a

PHILADELPHIA--(Business Wire)--
The ACE Group today announced the formation of its agriculture property and
casualty insurance business, ACE Agribusiness. ACE Agribusiness is comprised of
Penn Millers Insurance Company, acquired by ACE in 2011, and the Farm and Ranch
division of Rain and Hail Insurance Service, acquired by ACE in 2010. 

ACE Agribusiness will offer farm and ranch and specialty property and casualty
commercial insurance products and services to the agriculture market. 

"Unifying the Penn Millers commercial agricultural business and Rain and Hail`s
Farm and Ranch division under the new name -- ACE Agribusiness -- strengthens
ACE`s offerings in this segment. It also builds upon ACE`s leading franchise,
broadening our portfolio in this market, by bringing ACE`s specialty commercial
property and casualty expertise to agriculture businesses," said Michael
Coleman, Division President, ACE Agriculture. "We`re pleased to have the
opportunity to align these combined property and casualty offerings under the
ACE brand. And we`re pleased to expand our substantial agricultural market
capabilities through these specialty niche businesses serving the agriculture
market." 

Rain and Hail, an insurance subsidiary of the ACE Group, will continue to offer
its comprehensive suite of crop products including multi-peril crop insurance,
crop hail coverages, and named peril products specific to the agriculture
market, under its existing name. 

ACE`s agriculture businesses, Rain and Hail, and ACE Agribusiness, headquartered
in Johnston, Iowa, is one of the largest providers of multi-peril crop insurance
and a leading provider of crop hail and commercial agricultural insurance to
farmers and businesses in the United States and Canada. The ACE Group is one of
the world`s largest multiline property and casualty insurers. With operations in
53 countries, ACE provides commercial and personal property and casualty
insurance, personal accident supplemental health insurance, reinsurance, and
life insurance to a diverse group of clients. ACE Limited, the parent company of
the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a
component of the S&P 500 index. Additional information can be found at:
www.acegroup.com.

The ACE Group
Carla L. Ferrara, 212-827-4744
Carla.ferrara@acegroup.com

Copyright Business Wire 2013