CUNA Mutual Buys Stake in Agricultural Insurer

Published September 05, 2007, 10:05 p.m. EDT

|

Updated August 27, 2020, 1:40 a.m. EDT

1 Min Read

MADISON, Wis. – CUNA Mutual Group announced yesterday it has acquired a minority stake in Producer’s Ag Insurance Group, an Amarillo, Texas, crop insurer through which it has been selling agricultural coverage for the past year. The 25% stake will entitle the credit union insurer to a seat on the ag insurer’s board. CUNA Mutual entered into an agreement with Pro Ag last August to provide Multi-Peril Crop Insurance through credit unions. Financial terms of the transaction were not disclosed.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Failures

Embattled California bank is latest to fail

The $736 million Orange County bank had faced a smattering of enforcement actions over the years, including for concentration risks, governance issues and questionable insider transactions.

By Ebrima Santos Sanneh
Reporter

September 25
ESG

What climate finance means for portfolios

As the U.N. renews its call for $1.3 trillion a year in climate finance, four leaders in climate finance say the biggest question for advisors is where that money goes.

By Grace L. Williams
Reporter

September 25
Insurance

State regulators push back on Sen. Warren's insurance probe

The National Association of Insurance Commissioners responded to a query from Sen. Elizabeth Warren about risks to policyholders stemming from private-equity ownership of life insurers.

By Kate Berry
Reporter

September 25
Prediction Markets

New York sues Polymarket, alleging 'illegal gambling'

The platform had a lawsuit filed against it by New York officials this week as the latest in a series of cases against prediction markets on the state level.

By Melinda Lucy
Tech Reporter

September 25
BMO Financial Group

Why BMO has regained confidence in its US strategy

The Canadian bank's U.S. operations experienced challenges following a large acquisition on the West Coast. But the bank is now making good progress, according to a top BMO executive.

By Allissa Kline
Reporter

September 25
Wealth management

RIAs working with Schwab get higher-yielding option for clients' cash

As AI threatens firms' lucrative business managing uninvested cash, Schwab gives its RIA partners a new way to keep clients' cash holdings sticky.

By Dan Shaw
Reporter

September 25

Load More