Everest Re (RE) Finalizes $49M Sale of Heartland Crop Insurance

August 25, 2016 10:20 AM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

Everest Re Group, Ltd. (NYSE: RE) announced that it has finalized the sale of its U.S. crop managing general agent, Heartland Crop Insurance, Inc., to CGB Diversified Services, Inc. (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.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Corporate News, Spinoffs

Add Your Comment