Rain and Hail L.L.C. and Farm Bureau Mutual Insurance Company Announce Alliance

Rain and Hail L.L.C. and Farm Bureau Mutual Insurance Company Announce Alliance

JOHNSTON, Iowa--(BUSINESS WIRE)-- Rain and Hail L.L.C. (“Rain and Hail”) and Farm Bureau Mutual Insurance Company (FBMIC) today announced that Rain and Hail will service FBMIC crop insurance business beginning with the 2010 crop season.

Under the agreement between the parties Rain and Hail will be the Managing General Agent for Farm Bureau Mutual Insurance Company policies written on Western Agricultural Insurance Company paper, and will perform all aspects of servicing the Multiple Peril Crop Insurance, Livestock, Crop Hail and specialty crop insurance products written by the FBMIC captive and independent agency forces.

Finalization of the arrangement is contingent upon receipt of appropriate regulatory approvals.

“Rain and Hail welcomes the opportunity to work with FBMIC agents and policyholders to continue to provide premier risk management products and services to America’s farmers,” said Steve Harms, Rain and Hail Chairman of the Board.

“We firmly believe this strategic alliance creates the right opportunity to capitalize upon the collective strength of our two organizations,” said Jim Hohmann, Chief Executive Officer of FBL Financial Group, Inc. the West Des Moines-based financial services holding company that manages Farm Bureau Mutual Insurance Company and Western Agricultural Insurance Company. “Together we can deliver a comprehensive offering of essential and differentiated products that bring new value to the American farmer.”

“Both Companies have long histories of providing risk management solutions to the American farmer and this alliance further strengthens the commitment that is made to producers across the U.S.,” added Robert Haney, Rain and Hail President.

The agricultural marketplace is dynamic, with changes occurring in regulations, technology, genetics and production capabilities, as well as the volumes required for producers to remain successful. “These issues, coupled with the risk management needs of today’s farmer, create an opportunity for industry leaders to work together to ensure that farmers have access to the best tools and resources for protecting and enhancing their financial performance,” said Bruce Trost, Executive Vice President of Farm Bureau Financial Services’ property and casualty companies.

Plans are in place for agents and policyholders to seamlessly move to the Rain and Hail system and support structure. “Existing policyholders can rest assured that the relationships they have developed with their local agent will not experience change and the transition will be a smooth process.” “Rain and Hail is excited to embrace this growth opportunity for our crop insurance lines of business.” stated Scott Arnold, Rain and Hail National Marketing Manager.

Headquartered in Johnston, Iowa, Rain and Hail is a leading provider of agricultural insurance. From Multiple Peril Crop Insurance to Crop-Hail coverage and Farm Property and Casualty to Auto insurance, Rain and Hail covers the risk management needs of today’s farmers. Rain and Hail has eight division offices throughout the U.S., as well as one in Canada. For more information, visit www.RainHail.com.

Rain and Hail L.L.C.

Scott Arnold, 515-559-1000

[email protected]

www.RainHail.com

Source: Rain and Hail L.L.C.

Copyright Business Wire 2009 Rain and Hail L.L.C. and Farm Bureau Mutual Insurance Company today announced that Rain and Hail will service FBMIC crop insurance business beginning with the 2010 crop season.