American Agricultural Insurance Company

What American Agricultural Insurance Company does

American Agricultural Insurance Company (AmericanAg) is a privately held, Illinois-domiciled reinsurer founded in 1948 with the express purpose of providing reinsurance capacity and risk management services to Farm Bureau insurance companies in the United States. The company operates as a direct reinsurer to over 30 state-level Farm Bureau insurance companies, offering property, casualty, catastrophe, and specialty reinsurance products, while also participating in the U.S. and international broker marketplace for assumed reinsurance programs spanning North America, Latin America, Europe, Asia, and Africa. In parallel, AmericanAg delivers crop insurance products—Multi-Peril Crop Insurance (MPCI), Crop Hail, and Livestock and Dairy Revenue Protection—through a strategic partnership with American Farm Bureau Insurance Services (AFBIS), extending its footprint into the agricultural primary insurance value chain.

AmericanAg's product portfolio is anchored on treaty reinsurance constructs (proportional and excess of loss), catastrophe aggregates, and shared-overlying covers (e.g., its proprietary OOPS product), supplemented by specialty endorsements including Personal Cyber Coverage and Commercial/Farm Cyber Coverage (with integrated support from CyberScout, a TransUnion brand) and Farm Pollution Liability Coverage. The company maintains an A.M. Best "A" (Excellent) financial strength rating with a stable outlook (affirmed August 2024), supported by an ESRI ArcGIS Enterprise Portal for data-driven risk insights, AgAdvisor and Intercompany Cat Adjuster (ICA) certification programs, and third-party catastrophe modeling partnerships with Verisk and RMS. Service capabilities span actuarial analytics, exposure management, catastrophe modeling, and enterprise risk management, primarily directed at Farm Bureau clients via dedicated account executives.

The business model is quote-based and relationship-driven, generating revenue through reinsurance premiums accepted from Farm Bureau insurance companies (subscription/recurring in nature) and assumed reinsurance premiums sourced via brokers. Distribution is dual-channel: a direct enterprise sales motion into the closed Farm Bureau ecosystem, and a channel/broker motion for domestic treaty business (Minneapolis/Boston brokers) and international treaty business across multiple regions. AmericanAg employs 101–250 people across its Schaumburg headquarters and a Columbus area office, and as of March 2025 restructured its reinsurance division into two executive teams (Reinsurance Strategy & Placement/Broker Assumed Operations, and Client Retro & Broker Assumed Pool Management) to better integrate corporate reinsurance strategy with underwriting execution.

Name

American Agricultural Insurance Company

Legal name

American Agricultural Insurance Company

Website

https://aaic.com

Company type

Private

Founded year

1948

Operating status

Operating

Headcount range

101–250 employees

Short description

American Agricultural Insurance Company (AmericanAg) is a global diversified reinsurer serving as the exclusive direct reinsurer to over 30 Farm Bureau insurance companies in the United States, while also participating in U.S. and international broker reinsurance marketplaces across multiple regions.

Ownership category

akta.pro rank

Product category

Agricultural Reinsurance

NAICS

Reinsurance Carriers (524130)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Agriculture / Crop & Livestock Reinsurance (FSAOABAO)

akta.pro secondary industries

Agriculture & Crop Treaty Reinsurance (FSAOAEAH), Property Catastrophe Reinsurance (FSAOACAA), Property Treaty Reinsurance (FSAOAEAC)

Keywords

• Agricultural reinsurance
• Property reinsurance
• Crop insurance
• Catastrophe reinsurance
• Casualty reinsurance

Headquarters

HQ city

Schaumburg

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Reinsurance Premiums: AmericanAg acts as a direct reinsurer to Farm Bureau insurance companies, accepting premium in exchange for assuming risk. The company also participates in assumed U.S. and international reinsurance programs through the broker marketplace.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

AmericanAg is a global provider of diversified reinsurance services, acting primarily as a direct reinsurer to Farm Bureau insurance companies across the United States. The company also participates in the U.S. and international broker marketplace for assumed reinsurance programs spanning property, casualty, catastrophe, specialty, and crop insurance lines. Supporting services include actuarial analytics, catastrophe modeling, exposure management, and enterprise risk management.

Product overview

American Agricultural Insurance Company (AmericanAg) operates as a global diversified reinsurance provider serving two primary markets: a direct reinsurer to Farm Bureau insurance companies, and a participant in the US and international broker reinsurance marketplace. The product portfolio is organized into three main pillars: (1) Farm Bureau Reinsurance — property reinsurance (proportional and excess of loss treaties, OOPS catastrophe cover), casualty reinsurance (excess liability, workers' compensation, umbrella), specialty products including Personal Cyber Coverage, Commercial/Farm Cyber Coverage, and Farm Pollution Liability Coverage; (2) Broker Reinsurance — domestic and international assumed reinsurance through broker partners; and (3) Crop Insurance Products — Multi-Peril Crop Insurance (MPCI), Crop Hail, and Livestock and Dairy Revenue Protection offered in partnership with American Farm Bureau Insurance Services (AFBIS). Supporting services include Actuarial Analytics, Catastrophe Modeling (Verisk and RMS), Exposure Management Tools, Enterprise Risk Management, the ICA Assistance Program, and Farm Connection educational resources including the AgAdvisor certification program. The company is rated 'A' (Excellent) by A.M. Best.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Cyber Coverage

Quantifiable outcome

• A.M. Best "A" (Excellent) Financial Strength Rating with stable outlook
• +1 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core, major and supporting.

• Farm Bureau Insurance CompaniescoreStrategic or Co-development Partner · 1 January 1948AmericanAg serves as a direct reinsurer exclusively for Farm Bureau insurance companies, providing comprehensive reinsurance products including property, casualty, catastrophe, and specialty coverage. This partnership is the core of AmericanAg's business model, serving over 30 Farm Bureau insurance companies across the United States.
• American Farm Bureau Insurance Services, Inc. (AFBIS)coreStrategic or Co-development Partner · 1 January 1948AFBIS provides crop insurance services including underwriting, claims, training and marketing together with AmericanAg. The partnership enables comprehensive crop insurance product delivery to farmers and ranchers through the Farm Bureau network.
• CyberScout (TransUnion brand)majorTechnology or IntegrationCyberScout provides integrated support services for AmericanAg's Cyber Coverage and Personal Cyber Coverage products. Services include educational materials, training resources, and cyber incident response support for policyholders.
• Verisk and RMSsupportingTechnology or IntegrationAmericanAg utilizes catastrophe modeling software from Verisk and RMS for pre-modeling data analysis, exposure reports, modeling summary reports, and reinsurance placement support.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Swiss Re: Largest global reinsurer with agricultural and crop reinsurance capabilities across multiple geographies. Comparable as a direct competitor for international treaty business and large cedent relationships, and as a benchmark for how diversified reinsurers structure ag exposure.
• Hannover Re: Top-tier global reinsurer with diversified treaty and facultative offerings including agriculture. Comparable because it participates in the same international broker marketplace for assumed reinsurance and writes specialty and property catastrophe treaties analogous to AmericanAg's broker-assumed portfolio.
• Everest Re: Bermuda-domiciled global reinsurer and insurance provider with property catastrophe and specialty treaty offerings. Comparable in competing for broker-market assumed reinsurance and writing excess-of-loss property structures analogous to AmericanAg's catastrophe book.
• PartnerRe: Mid-to-large global reinsurer with specialty lines including agriculture and catastrophe. Comparable in product mix (property, casualty, specialty treaty reinsurance) and broker-market distribution, though PartnerRe serves a broader and more diversified cedent base.
• RenaissanceRe: Specialty reinsurer with leading catastrophe and risk-linked securities capabilities. Comparable in the property catastrophe treaty space where AmericanAg offers Per Occurrence Catastrophe, Catastrophe Aggregate, and OOPS covers.
• SCOR: Global reinsurer with P&C and life reinsurance operations and a specialty book that includes agricultural exposures. Comparable in writing treaty reinsurance through international brokers and serving regional primary insurers, with overlap in catastrophe and specialty lines.
• Munich Re: One of the world's largest reinsurers with a meaningful agricultural reinsurance book across property, casualty, and specialty lines. Comparable because both write treaty and facultative reinsurance with global geographic reach, though Munich Re operates at far greater scale and broader diversification than AmericanAg.
• QBE Re: Reinsurance arm of QBE Insurance Group writing property, casualty, and specialty treaty business through brokers. Comparable in competing in the same US and international broker assumed marketplace where AmericanAg participates.

Direct peers

• EMC Reinsurance Company: US-based reinsurance carrier historically focused on assumed treaty business through broker and direct relationships. Comparable as a similarly sized domestic competitor writing US broker-market reinsurance, with overlapping underwriting talent (former EMC Re underwriters now at AmericanAg).

Regional players

• Toa Reinsurance Company: Japanese-domiciled reinsurer with diversified treaty and facultative business across Asia and other regions. Comparable as a mid-tier reinsurer participating in international broker marketplace for assumed reinsurance, especially relevant to AmericanAg's Asia-Pacific book.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about American Agricultural Insurance Company