26 August 2016 Insurance

Everest Re complete $49m sale of MGA

Everest Re Group has finalised the sale of Heartland Crop Insurance, its US crop managing general agent (MGA), to CGB Diversified Services, for $49 million.

Along with the deal, Everest has entered into a strategic long-term reinsurance relationship with CGB Diversified Services.

As part of the partnership, Everest will provide quota share reinsurance capacity on the combined crop insurance portfolio of the Diversified/Heartland companies.

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Everest Re complete $49m sale of MGA

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