Deere and Company might sell its crop insurance business. Tuesday, the company announced it's reviewing what it calls "strategic options" for John Deere Insurance Company, a division of John Deere Financial.
Despite entering the crop insurance business just eight years ago, it's become one of the top-ten providers in the US, with more than 50,000 customers in more than 40 states. John Deere Insurance now employs 220 people. Magost are based in Des Moines, but it also has adjustors located across the country.
According to a press release, while crop insurance is important for Deere agricultural customers, it's not a "core" business for the company.