Everest Re Group Closes $49M Heartland Sale

August 27, 2016

Bermuda-based Everest Re Group, Ltd. has finalized the sale of its U.S. crop managing general agent, Heartland Crop Insurance, Inc., to CGB Diversified Services, Inc. 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.

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