Agency group 360 Underwriting Solutions has acquired a majority stake in Crop Risk Underwriting.

Sydney-based Crop Risk offers broadacre, cotton, perennial tree and vine producer covers and is backed by capacity partner Liberty Mutual.

360 Underwriting co-founder and MD Denis Morrisey says the deal “reinforces our commitment to regional Australia and complements our existing farm insurance offering.

“It increases our relevance and capability for the brokers who service this critical part of the Australian economy. We have been targeting several key product gaps within our group portfolio, and the addition of Crop Risk fills one of those strategically important areas.”

Crop Risk co-founder Steven Green said: “Our decision to partner with 360 Underwriting aligns [us] with an initiative that is designed to support and expand insurance services to rural and regional brokers while also providing ... the opportunity for the development of new and improved solutions to help farmers manage adversity.” 

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