MOLINE, Ill., Sept. 23, 2014 /CNW/ -- Deere & Company
(NYSE: DE) announced today it will review strategic options for its
crop insurance business, which underwrites policies through John
Deere Insurance Company, a business unit within John Deere
Financial.
Deere said no formal decisions have been made and no agreements
have been reached concerning the company's crop insurance
operations. Citi has been retained as exclusive financial
advisor to assist in the initiative.
Effective risk management remains an important factor in
successful farm operations, Deere noted. John Deere will continue
to design, manufacture and offer technology, equipment and services
in its precision agriculture offerings that enhance farming
operations for customers.
Deere has been involved in the crop insurance business for 8
years, during which John Deere Insurance Company has become a
top-10 provider of crop insurance with national distribution and a
product portfolio of both government-backed multi-peril crop
insurance (MPCI) products as well as private crop insurance
products such as hail protection.
Deere & Company (NYSE: DE) is committed to the success of
customers whose work is linked to the land, providing advanced
products and services to cultivate, harvest, transform, enrich and
build upon the land to meet the world's dramatically increasing
need for food, fuel, shelter and infrastructure. Visit John Deere
at www.JohnDeere.com.
SOURCE Deere & Company