Great American's Parent Company Enters into Agreement to Purchase Crop Risk Services
Great American is pleased to announce that its parent company, American Financial Group, has reached a definitive agreement whereby AFG will purchase Crop Risk Services (CRS) from American International Group (AIG). CRS is a primary crop insurance general agent based in Decatur, Illinois, with 2022 gross written premiums of approximately $1.2 billion and is the seventh largest provider of multi-peril crop insurance in the United States, based on 2022 premiums. AFG’s Great American Insurance Group has been providing crop-hail coverage since 1915 and began writing multi-peril crop insurance in 1908 after Congress authorized the program. Great American’s Crop Division generated gross written premiums of approximately $1.8 billion in 2022 and is the fifth largest provider of multi-peril crop insurance in the United States.
To learn more, please see American Financial Group’s press release.