Everest Re completes $49mn Heartland sale

Bermudian reinsurer Everest Re has closed the sale of its US
crop managing general agent Heartland Crop Insurance to CGB
Diversified Services for $49mn, the company announced today.
The carrier has also entered into a quota share reinsurance
agreement with CGB to provide capacity on the combined crop
insurance portfolio of the two companies.
Everest Re announced last month that it had signed a letter of
intent to sell the unit to CGB.
In a concurrent statement CGB said it...