Silveus Insurance Group To Buy Cargill Crop Insurance Agency
July 28, 2016 at 4:25 p.m.
By Staff Report-
The transaction is expected to close in mid-January, according to the announcement from Silveus. Terms were not disclosed.
“My family has helped farm clients manage risk for four generations,” said Tyler Silveus, CEO of SIG, in the announcement. “We look forward to getting to know and welcoming to Silveus Insurance Group each farm family, agent and staff member that has been associated with Cargill Crop Insurance.”
Cargill entered the crop insurance agency business in 2007.
“The mission of our grain and crop inputs businesses is to effectively and efficiently help farmers make the most of their investments in agriculture, and help them manage their risks,” said Dave Baudler, president of Cargill AgHorizons U.S., which includes the company’s network of grain elevators and farm service centers in the country. “We believe we can accomplish this mission through our core grain marketing and risk management programs without being directly involved in the sale of crop insurance.”
Jeff Klock, president of Cargill Crop Insurance, said, “Cargill chose Silveus Insurance Group because of their strong focus on crop insurance, exceptional capability to serve their customers, and the industry leading tools it has developed to help farmers manage risk. Our customers will have an opportunity to benefit from these tools immediately upon the close of this transaction.”
The acquisition of CCI is the first significant purchase SIG has made in the crop insurance area, the announcement states.
Silveus continued, “Acquiring the Cargill business will help us accelerate growth and fuel additional innovation that provides additional value to our farmer clients.”
Silveus Insurance Group Inc. is a fourth-generation family-owned and -operated business with over 80 crop insurance agents who work with clients nationwide. More information about the company can be found online at SilveusCropIns.com.
Cargill provides food, agriculture, financial and industrial products and services by applying its insight from 150 years of experience, according to the announcement. The company has 155,000 employees in 68 countries, and can be found online at Cargill.com.[[In-content Ad]]
The transaction is expected to close in mid-January, according to the announcement from Silveus. Terms were not disclosed.
“My family has helped farm clients manage risk for four generations,” said Tyler Silveus, CEO of SIG, in the announcement. “We look forward to getting to know and welcoming to Silveus Insurance Group each farm family, agent and staff member that has been associated with Cargill Crop Insurance.”
Cargill entered the crop insurance agency business in 2007.
“The mission of our grain and crop inputs businesses is to effectively and efficiently help farmers make the most of their investments in agriculture, and help them manage their risks,” said Dave Baudler, president of Cargill AgHorizons U.S., which includes the company’s network of grain elevators and farm service centers in the country. “We believe we can accomplish this mission through our core grain marketing and risk management programs without being directly involved in the sale of crop insurance.”
Jeff Klock, president of Cargill Crop Insurance, said, “Cargill chose Silveus Insurance Group because of their strong focus on crop insurance, exceptional capability to serve their customers, and the industry leading tools it has developed to help farmers manage risk. Our customers will have an opportunity to benefit from these tools immediately upon the close of this transaction.”
The acquisition of CCI is the first significant purchase SIG has made in the crop insurance area, the announcement states.
Silveus continued, “Acquiring the Cargill business will help us accelerate growth and fuel additional innovation that provides additional value to our farmer clients.”
Silveus Insurance Group Inc. is a fourth-generation family-owned and -operated business with over 80 crop insurance agents who work with clients nationwide. More information about the company can be found online at SilveusCropIns.com.
Cargill provides food, agriculture, financial and industrial products and services by applying its insight from 150 years of experience, according to the announcement. The company has 155,000 employees in 68 countries, and can be found online at Cargill.com.[[In-content Ad]]
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