A Richmond, Va., insurance company is purchasing a New York-based property-casualty insurer that provides far, auto and home insurance in 10 states.
Virginia Farm Bureau Mutual Insurance Co. of Richmond plans to purchase Countryway Insurance Co. of Syracuse, N.Y.
Terms of the deal were not disclosed by either party.
Countryway is being sold by United Farm Family Mutual Insurance Co., an Indianapolis, Ind.-based company.
Countryway, with premiums of about $33 million, sells policies in rural New England, New York, New Jersey, Pennsylvania, Kentucky and Virginia.
Virginia Farm Bureau, owned by Virginia Farm Bureau Federation, has about 150,000 customers, who buy personal and commercial property-casualty, and life insurance products from farm bureau offices throughout Virginia.
Virginia Farm Bureau Mutual expanding with New York acquisition via IFAwebnews.com .
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