28 April 1998
CU buys American agricultural insurer for $118m

COMMERCIAL UNION (CU) has bought National Farmers Union, a US agricultural insurer in the midwest, for $118m (£71m).

The newly-purchased business provides commercial and personal cover to rural communities across 12 states.

CU entered the agricultural insurance sector last year when it expanded its niche insurance operations with the acquisition of CNA Agricultures farm and ranch business.

CU also said its planned merger with General Accident was progressing well.

  • Financial Times 28/04/98 page 27
  • The Times 28/04/98 page 29
  • The Independent 28/04/98 page 22