M&A Deal Summary

Zurich Insurance Acquires Rural Community Insurance Services

On December 18, 2015, Zurich Insurance acquired insurance company Rural Community Insurance Services from Wells Fargo for 1.1B USD

Acquisition Highlights
  • This is Zurich Insurance’s 4th transaction in the Insurance sector.
  • This is Zurich Insurance’s largest (disclosed) transaction.
  • This is Zurich Insurance’s 1st transaction in the United States.
  • This is Zurich Insurance’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2015-12-18
Target Rural Community Insurance Services
Sector Insurance
Buyer(s) Zurich Insurance
Sellers(s) Wells Fargo
Deal Type Divestiture
Deal Value 1.1B USD

Target

Rural Community Insurance Services

Anoka, Minnesota, United States
website
Rural Community Insurance Services is a provider of agricultural insurance.

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Buyer(S) 1

Buyer

Zurich Insurance

Zurich, Switzerland

website


Category Company
Founded 1872
Sector Insurance
Employees60,000
Revenue 41.4B USD (2022)
DESCRIPTION
Entrance to Zurich Insurance's headquarters in Zurich, Switzerland.
Entrance to Zurich Insurance's headquarters in Zurich, Switzerland.

Zurich Insurance is a multi-line insurer that serves its customers in global and local markets. Zurich provides a wide range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Company was formed in 1872 and is based in Zurich, Switzerland.


DEAL STATS #
Overall 5 of 10
Sector (Insurance) 4 of 5
Type (Divestiture) 1 of 2
State (Minnesota) 1 of 1
Country (United States) 1 of 4
Year (2015) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-20 Malaysian Assurance Alliance Berhad

Kuala Lumpur, Malaysia

Zurich Insurance Malaysia Berhad underwrites life insurance and general insurance products in Malaysia.

Buy $115M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-04 Zurich Assurances Maroc S.A.

Casablanca, Morocco

Zurich Assurances Maroc is one of the largest insurance companies in Morocco, currently ranking at number 7 in the property and casualty market and serving more than 600,000 customers. In 2015, Zurich Assurances Maroc generated 114 million euros in gross premiums written. The company also has a license for life and health insurance products, which Allianz plans to utilize.

Sell €244M

Seller(S) 1

SELLER

Wells Fargo

San Francisco, California, United States

website


Category Company
Founded 1852
Sector Financial Services
Employees264,513
Revenue 72.3B USD (2020)
DESCRIPTION
Wells Fargo's corporate headquarters in downtown San Francisco, California.
Wells Fargo's corporate headquarters in downtown San Francisco, California.

Wells Fargo is a diversified financial services company that provides retail, commercial and corporate banking services through banking stores and offices, the internet and other distribution channels to individuals, businesses and institutions in all 50 US states, the District of Columbia and in other countries. Wells Fargo provides other financial services through subsidiaries engaged in various businesses, principally: wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, investment advisory services, mortgage-backed securities servicing and venture capital investment. Wells Fargo was formed in 1852 and is based in San Francisco, California.


DEAL STATS #
Overall 6 of 16
Sector (Insurance) 2 of 4
Type (Divestiture) 5 of 15
State (Minnesota) 2 of 3
Country (United States) 4 of 11
Year (2015) 3 of 3
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-18 Rural Community Insurance Agency

Anoka, Minnesota, United States

Rural Community Insurance Agency, Inc. is a provider of federal crop insurance programs including multi-peril (“MPCI”) and other private crop insurance products.

Sell $675M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-05 RELS

RELS LLC is a provider of real estate asset valuation and appraisal solutions.

Sell -