In December 1946, the voting delegates for the American Farm Bureau Federation® (AFBF) authorized the formation of a reinsurance company to serve the Farm Bureau® insurance companies’ need for additional capacity, stability, and catastrophe protection. The resulting organization – American Agricultural Insurance Company, also known as AAIC – was incorporated on May 18, 1948.
Since our founding, providing reinsurance services for the Farm Bureau® insurance companies – and serving as a focal point to help them assist one another – has remained central to our identity. In recent years, however, we have also taken steps to expand and diversify. Working with American Farm Bureau Insurance Services, Inc. (AFBIS), we began offering crop insurance in 1997. We acquired Nationwide Group’s assumed reinsurance business in 1999 and soon after began writing reinsurance for domestic and international companies through the broker marketplace, providing balance and spread of risk to our portfolio.
Today, we are licensed or accredited/qualified in 47 states and have a diverse mix of business on six continents. We rank among the world’s 50 largest reinsurance groups, as rated by A.M. Best, and remain committed to our mission of creating value through long-term relationships, innovative solutions, and exceptional service.