On this article, we’ll check out the 15 greatest farm and ranch insurance coverage firms heading into 2024. To skip our detailed evaluation, you’ll be able to go on to 5 Finest Farm and Ranch Insurance coverage Corporations Heading into 2024.
Pula Insurance coverage: Making Insurance coverage Accessible
Sure stakeholders, together with firms, are always making an effort to guard small farmholders in rising economies. One such startup is Pula Insurance coverage. Pula Insurance coverage is an agriculture insurance coverage firm centered on unbanked and uninsured smallholders throughout the globe. The corporate primarily works throughout Africa and Asia. The corporate is geared toward revolutionizing agriculture insurance coverage via innovation. Thus far the corporate supplied insurance coverage protection to over 1.1 million farmers. You too can check out natural meals and farming shares.
In October, Pula Insurance coverage printed a quarterly replace for the third quarter. Throughout the previous quarter, the corporate entered the Ethiopian market. In section 1, the corporate rolled out an insurance coverage program for greater than 122,000 farmers by offering them with a nationwide fertilizer provide system. It will allow the startup to develop local weather danger resilience amongst farmers throughout the nation. Furthermore, the corporate was additionally awarded a grant by america Company for Worldwide Growth’s Growth Innovation Ventures (DIV). This grant will permit the corporate to leverage its capabilities into embedded insurance coverage.
Outstanding Names within the Farm & Ranch Insurance coverage Trade
The Hartford Monetary Providers Group, Inc. (NYSE:HIG), American Monetary Group, Inc. (NYSE:AFG), and Liberty Mutual Insurance coverage are outstanding names within the farm and ranch insurance coverage business. Let’s talk about some latest updates from these firms.
The Hartford Monetary Providers Group, Inc. (NYSE:HIG) is an insurance coverage firm based mostly in Connecticut, United States. The corporate supplies protection throughout a number of traces of insurance coverage together with auto, enterprise, industrial, automobile, and farm and ranch. The various portfolio of the corporate explains its strong monetary efficiency. On October 26, The Hartford Monetary Providers Group, Inc. (NYSE:HIG) reported earnings for the fiscal third quarter of 2023. The corporate reported earnings per share of $2.29, beating estimates by $0.32. The corporate additionally reported income price $6.17 billion through the quarter, forward of market consensus by $4.62 million, with a year-over-year development fee of 10.54%.
American Monetary Group, Inc. (NYSE:AFG) is a monetary companies and insurance coverage firm based mostly in Ohio. The corporate primarily operates within the insurance coverage and funding business. Key insurance coverage covers supplied by the corporate embrace property insurance coverage, casualty insurance coverage, and farm insurance coverage, amongst different insurance coverage traces. Wall Road is bullish on American Monetary Group, Inc. (NYSE:AFG). On December 14, Janney Montgomery Scott analyst Robert Farnam initiated protection of American Monetary Group, Inc. (NYSE:AFG) with a Purchase score and a worth goal of $135. Over the previous 3 months, 9 Wall Road analysts have really useful to Purchase the inventory. American Monetary Group, Inc. (NYSE:AFG) has a mean worth goal of $73.46 and a excessive forecast of $83.
Liberty Mutual Insurance coverage is a outstanding identify within the insurance coverage business. The corporate supplies protection for auto insurance coverage, residence insurance coverage, renters insurance coverage, bike insurance coverage, automobile insurance coverage, and farm and ranch insurance coverage. On September 18, Liberty Mutual Insurance coverage introduced an settlement to amass the Home of Ensures (HOGS). HOGS is a managing common agent based mostly in Norway. 450 prospects will be part of Liberty Mutual as soon as the deal is closed in early 2024. Liberty Mutual Insurance coverage will leverage the partnership to broaden its footprint to Norway and Sweden.
Along with The Hartford Monetary Providers Group, Inc. (NYSE:HIG), American Monetary Group, Inc. (NYSE:AFG), and Liberty Mutual Insurance coverage, among the greatest farm and ranch insurance coverage suppliers embrace Chubb Restricted (NYSE:CB), Zurich Insurance coverage Group AG (OTC:ZURVY), and AXA SA (OTC:AXAHY). Let’s check out the 15 greatest farm and ranch insurance coverage firms heading into 2024. You too can check out among the greatest vertical farming and hydroponic shares to purchase.
15 Finest Farm and Ranch Insurance coverage Corporations Heading into 2024
Our Methodology
We employed a consensus strategy to give you the 15 greatest farm and ranch insurance coverage firms heading into 2024. We sifted via 6 business stories together with Straits Analysis, Verified Market Reviews, Verified Market Analysis, IMARC, Allied Market Analysis, and Advance Market Analytics. This thorough course of enabled us to record the 20 greatest farm and ranch insurance coverage firms heading into 2024. We then sourced the market cap for publicly listed firms or the newest annual income for personal firms to determine the 15 greatest farm and ranch insurance coverage firms heading into 2024. We sourced market caps from Yahoo Finance, and annual income from official firm stories.
For some non-public firms, we had been unable to supply the reported annual income. For such firms, we determined to rank them based mostly on the variety of staff or associates, because it displays the scale and place of an organization within the business. The variety of staff is probably not totally correct to quantify an organization’s valuation, however a detailed depiction of the corporate’s place within the business.
The record of the 15 greatest farm and ranch insurance coverage firms heading into 2024 is in ascending order of the market capitalization as of December 14, 2023, or annual income for the newest yr obtainable.
15 Finest Farm and Ranch Insurance coverage Corporations Heading into 2024
15. Farm Bureau Monetary Providers
Variety of Staff: $1,900
Farm Bureau Monetary Providers ranks among the many greatest farm and ranch insurance coverage firms heading into 2024. The corporate supplies property insurance coverage, enterprise succession insurance coverage, and farm and ranch insurance coverage. Below its farm and ranch insurance coverage coverage, the corporate supplies protection for livestock, crops, farm property, ranches, and interest farms. The corporate is residence to 1,900 staff and 4,000 subject associates.
Among the high insurance coverage shares to purchase in line with hedge funds embrace Chubb Restricted (NYSE:CB), Zurich Insurance coverage Group AG (OTC:ZURVY), and AXA SA (OTC:AXAHY).
14. American Nationwide Insurance coverage
Annual Income (2022): $3.86 Billion
American Nationwide Insurance coverage is among the greatest farm and ranch insurance coverage firms heading into 2024. The corporate relies in Texas and supplies protection for all times insurance coverage, enterprise insurance coverage, auto insurance coverage, medical health insurance, owners insurance coverage, renters insurance coverage, and farm and ranch insurance coverage. American Nationwide Insurance coverage presents complete farm and ranch insurance coverage protection for livestock, farm equipment, gear, equine legal responsibility, farm legal responsibility, and private legal responsibility. The corporate reported annual income price $3.86 billion in 2022.
13. American Monetary Group, Inc. (NYSE:AFG)
Market Capitalization as of December 14, 2023: $10.24 Billion
With a market cap of $10.24 billion, as of December 14, American Monetary Group, Inc. (NYSE:AFG) ranks among the many greatest farm and ranch insurance coverage firms heading into 2024. The corporate relies in Ohio and primarily operates within the insurance coverage and investments business. The Nice American Insurance coverage Firm, a subsidiary of American Monetary Group, Inc. (NYSE:AFG) supplies protection for casualty insurance coverage, property insurance coverage, and farm and ranch insurance coverage. Below its farming insurance coverage coverage, the corporate protects farms, ranches, crops, and livestock.
12. American Household Insurance coverage
Annual Income (2022): $14.4 Billion
American Household Insurance coverage, also called AmFam, ranks among the many greatest farm and ranch insurance coverage firms heading into 2024. The corporate supplies protection amongst auto, casualty, property, bike, well being, life, industrial, and farm and ranch insurance coverage traces. Below its customizable farm and ranch insurance coverage coverage, the corporate presents compensation for bodily damage, medical bills, and farm property injury. American Household Insurance coverage reported annual income price $14.4 billion in 2022.
11. QBE Insurance coverage Group Restricted (OTC:QBEIF)
Market Capitalization as of December 14, 2023: $14.43 Billion
QBE Insurance coverage Group Restricted (OTC:QBEIF), with a market cap of $14.43 billion, as of December 14, ranks among the many greatest farm and ranch insurance coverage firms heading into 2024. The corporate relies in Australia and presents property insurance coverage, casualty insurance coverage, bike insurance coverage, and farm and ranch insurance coverage, amongst different insurance coverage traces. QBE Insurance coverage Group Restricted (OTC:QBEIF) supplies versatile protection for its farm and ranch insurance coverage coverage. The corporate engages within the safety of livestock, autos, gear, and property.
10. Sompo Holdings, Inc. (OTC:SMPNY)
Market Capitalization as of December 14, 2023: $16.51 Billion
Sompo Holdings, Inc. (OTC:SMPNY), a Japanese insurance coverage firm, ranks among the many greatest farm and ranch insurance coverage firms heading into 2024. The corporate supplies life insurance coverage, care insurance coverage, and agriculture insurance coverage. Below its farm and ranch coverage, the corporate presents conventional and progressive crop insurance coverage and productiveness instruments to farmers, ranchers, farm suppliers, and agriculture companies. Sompo Holdings, Inc. (OTC:SMPNY) boasts a market cap of $16.51 billion, as of December 14.
9. The Hartford Monetary Providers Group, Inc. (NYSE:HIG)
Market Capitalization as of December 14, 2023: $24.26 Billion
With a market cap of $24.26 billion, as of December 14, The Hartford Monetary Providers Group, Inc. (NYSE:HIG) is among the many greatest farm and ranch insurance coverage firms heading into 2024. The corporate supplies a spread of insurance coverage companies amongst automobile, auto, enterprise, and farm and ranch insurance coverage traces. For its farm and ranch insurance coverage coverage, the corporate presents specialised livestock, equine, and animal mortality insurance coverage to companies and livestock house owners. The Hartford Monetary Providers Group, Inc. (NYSE:HIG) was based in 1810.
8. The United Providers Car Affiliation
Annual Income (2022): $36 Billion
The United Providers Car Affiliation, also called USAA, ranks among the many greatest farm and ranch insurance coverage firms heading into 2024. The corporate supplies a spread of insurance coverage protection together with automobile insurance coverage, owners insurance coverage, bike insurance coverage, and farm and ranch insurance coverage. The corporate supplies complete farm and ranch insurance coverage for interest farms, property farms, equine operations, orchards and vineyards, tractors, and gear. The United Providers Car Affiliation reported annual income price $36 billion in 2022.
7. The Vacationers Corporations, Inc. (NYSE:TRV)
Market Capitalization as of December 14, 2023: $42.30 Billion
With a market cap of $42.30 billion, as of December 14, The Vacationers Corporations, Inc. (NYSE:TRV) ranks as the most effective farm and ranch insurance coverage firms heading into 2024. The corporate relies in New York and supplies protection for journey insurance coverage, auto insurance coverage, enterprise insurance coverage, owners insurance coverage, and farm and ranch insurance coverage. Below its farm and ranch insurance coverage coverage, the corporate covers farm dwellings, family private property, farm buildings, non-public buildings, and extra dwelling bills. The insurance coverage coverage applies to industrial growers of agri merchandise, property farms, and household farms and ranches. The Vacationers Corporations, Inc. (NYSE:TRV) was based in 1853.
6. Liberty Mutual Insurance coverage
Annual Income (2022): $50.00 Billion
Liberty Mutual Insurance coverage ranks among the many greatest farm and ranch insurance coverage firms heading into 2024. The corporate relies in america and supplies protection for auto insurance coverage, residence insurance coverage, renters insurance coverage, bike insurance coverage, automobile insurance coverage, and farm and ranch insurance coverage. Below its farm and ranch coverage, the corporate protects people and companies from monetary losses associated to horses, animals, and cattle. Liberty Mutual Insurance coverage reported annual income price $50 billion in 2022.
Aside from farm and ranch insurance coverage, Chubb Restricted (NYSE:CB), Zurich Insurance coverage Group AG (OTC:ZURVY), and AXA SA (OTC:AXAHY) additionally present protection for industrial insurance coverage, property insurance coverage, and auto insurance coverage.
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Disclosure: None. 15 Finest Farm and Ranch Insurance coverage Corporations Heading into 2024 is initially printed on Insider Monkey.
