Acceptance Insurance Companies, Inc. is an agricultural risk management company providing comprehensive insurance products and a provider of property and casualty insurance. The Company underwrites its insurance products through two wholly owned insurance company subsidiaries: AGIC (American Growers Insurance Company), which provided insurance products prior to ceasing operations in December 2002, and AIC (Acceptance Insurance Company), which provides property and casualty insurance. AGIC, the Company's wholly owned crop insurance subsidiary, was placed into rehabilitation, on December 20, 2002, by the District Court of Lancaster County, Nebraska.
Acceptance Insurance Companies has sold its property & casualty operations to a subsidiary of German insurer Hannover Re and insurance holding company McM. Citing drought and poor growing conditions, Acceptance Insurance also divested American Agrisurance, its crop insurance business. Acceptance's only remaining operation is Acceptance Insurance Company, which is under administrative supervision. The company continues to manage the run-off of discontinued and sold businesses.
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