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Zurich American Insurance completes deal for crop insurer Rural Community Insurance

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Zurich American Insurance completes deal for crop insurer Rural Community Insurance

ZurichAmerican Insurance Co., a subsidiary of , saidApril 1 it acquired Rural Community Insurance Agency Inc. and its subsidiary,Rural Community InsuranceCo.

The two are known collectively as Rural Community InsuranceServices. Zurich paid Wells Fargo& Co.  about $700 millionfor the business.

The deal was first announced on Dec. 18, 2015, and the acquisition becameeffective on March 31.

Rural Community Insurance Services will now operate as astandalone unit within Zurich North America Commercial's programs and directmarkets business unit.