Hub International Ltd. (Hub), a leading global insurance brokerage, announced that it has signed a purchase agreement to acquire the assets of Wells Fargo Insurance Inc.'s crop insurance broker business, Wells Fargo Crop. Terms of the agreement were not disclosed.
With offices in South Dakota, North Dakota, Minnesota, Iowa, Nebraska and Indiana, Wells Fargo Crop offers insurance solutions to protect agriculture-related operations. Representing the top crop insurance providers, Wells Fargo Crop provides insurance brokerage services for more than 130 types of crops, plus standard federal multi-peril and crop hail policies. It also helps farmers protect their operations with programs such as revenue protection and state-specific offerings.
Rene LeVeaux, president of Hub International Mountain States Ltd. (Hub Mountain), said, "Hub Mountain is aggressively investing in its crop and agriculture business. This acquisition will position Hub Mountain as one of the largest crop brokers in the Midwest and Northwest. As such, we will continue to provide additional resources to ensure our crop and agriculture clients receive the best products and service to protect their operations."
Following the acquisition, the Wells Fargo Crop team members will join Hub Mountain, continuing to service and support clients. Jeff Kemink, national crop insurance manager of Wells Fargo Crop, and Jean Hinsverk, assistant vice president and operations manager, will join Hub Mountain in leadership roles. Kemink will report to LeVeaux, and Hinsverk directly to Kemink with a close partnership with Wayne Dauwen, chief operating officer of Hub Mountain.
"Our clients will continue to receive the same dedicated sales and service support from team members who have assisted them in the past with their crop and operations protection," Kemink said. "By joining Hub, they will also benefit from Hub's extensive network of insurance specialists in management liability, employee benefits and risk services to best help them protect and grow their businesses."