Deals
Cargill Joins Wells Fargo, Deere in Retreat From Crop Insurance
- Risk climbs with volatile crop prices, extreme weather
- Uncertainty over government role clouds future for insurers
This article is for subscribers only.
The U.S. crop insurance market has been abandoned by some of its largest companies as lower agricultural prices crimp revenue, and uncertainty about federal aid clouds the business’s future.
Cargill Inc., the largest privately held company in the U.S., reached a deal last month to sell a crop insurer. Wells Fargo & Co., the largest bank by market value, also announced a retreat, as did seed provider Monsanto Co. and tractor maker Deere & Co.