Hudson Insurance Group Forms Crop Unit

Hudson Insurance Group, the U.S. Insurance division of Odyssey Re Holdings Corp., has purchased the assets pertaining to the crop insurance business of CropUSA Insurance Agency Inc.

Since 2006 CropUSA has acted as managing general underwriter for Hudson in the crop insurance sector. As a result of this transaction, Hudson has hired the staff and acquired the portfolio of CropUSA. Going forward, the business will operate under the brand Hudson Crop, and will continue to be led by Kent Petersen, previously the President of CropUSA.

Hudson has been approved to sell multi peril crop insurance for the 2009 crop year by the RMA, the managing agency for the Federal Crop Insurance Corporation. Hudson Crop will also write related products, including crop hail and named peril crop insurance.

Brian Young, CEO of Global Insurance Operations, noted, “We have enjoyed an excellent working relationship with Kent and his team, and are pleased they have decided to join Hudson. Crop insurance has become a meaningful part of our US insurance portfolio, and this transaction will enhance our efforts to expand this class in a dynamic marketplace.”

Hudson Insurance Group specializes in primary and excess insurance coverages through Hudson Programs, Hudson Healthcare and Hudson Financial Products. Hudson provides admitted and non-admitted insurance predominantly through Hudson Insurance Company and Hudson Specialty Insurance Company; both rated "A" (Excellent) XV by A.M. Best Company.

Hudson Insurance Group is the U.S. Insurance division of OdysseyRe, a worldwide underwriter of property and casualty reinsurance and specialty insurance with $3 billion in policyholders' surplus.