Wednesday, July 25, 2012

ACE Insurance Commentary 2Q12

ACE Runs a crop insurance book.  Evan Greenberg, the CEO had this to say about the drought conditions:

Evan Greenberg
You’re correct, this is the, these are the worst drought conditions that we have seen in the, that has been experienced in the forming community since 1988. It is broad-based though it is very much concentrated in the mid-west states and in 1988 crop insurance was much less factor in the overall financial pluming of the agriculture industry. It's far more wide spread and taken up as a valuable protection and this is center piece for the support of the agriculture industry today than it was in 1988.

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