A major Jacksonville employer’s company has been bought in a major merger. ARMtech, the 6th largest underwriter of federally sponsored crop insurance has purchased Diversified Crop Insurance Services. Diversified Crop Insurance Services will now become a part of Sompo’s existing global AgriSompo platform.
According to a press release on Sompo’s website, the acquisition will create one of the largest crop insurance providers worldwide, with combined gross written premiums of more than $2 billion in 2019. Further terms of the deal has not been released and the effect on the Jacksonville offices are unknown at this time. Diversified Services employs up to 1,000 people nationwide and is one of the larger employers in the Jacksonville area.