Reinsurance News

Rokstone Agriculture acquires specialist team to launch new Farm & Ranch Division

30th November 2022 - Author: Kane Wells

Rokstone Agriculture Risk Underwriters, the US Agriculture division of the international speciality re/insurance MGA, Rokstone, has acquired senior underwriters Joshua Lauth and Michael Theibert to launch a new specialist Farm and Ranch division based in Ohio.

Joshua Lauth, who has been appointed President, was previously Agribusiness Region Leader at Westfield. During his tenure there, Lauth operated in various sales, underwriting and leadership roles designed to expand the company’s farm and agribusiness market presence.

Michael Theibert, who has been appointed Senior Vice President, also joins from Westfield, where he was Small Business Territory Leader.

Before this, Theibert held several roles at Westfield, focused on agency automation within the farm, small business, and personal lines, and middle market field underwriting. Both Lauth and Theibert had been with the carrier for nearly 20 years.

Lauth commented on his appointment, stating, “There have been increasing levels of automation in other areas of the US market, but often seen as a niche Specialty area, Farm and Agriculture remains undeveloped and under-serviced.

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“We are changing this with the launch of Rokstone Agriculture’s Farm & Ranch division. We are combining market-leading underwriting expertise with an award-winning online quote and bind experience for straight-through processing, backed by the firepower and significant investment of the global MGA Rokstone.

“I am hugely excited to have the unique opportunity to be part of an organization embracing change, promoting an entrepreneurial spirit, and driving innovation through people, process, and technology.”

Tony Lawrence, Chief Digital Distribution Officer for the parent company, Aventum, added, “We’re delighted to welcome Josh and Michael to Rokstone. Agriculture in the US is a very diverse sector. We launched Rokstone Agriculture earlier this year, specialising in livestock risks, and they have had enormous success in just a few months.

“With the addition of this complementary team, we’re building a true and broad agriculture enterprise. For distribution partners in the US, Rokstone will be a one-stop shop for Specialty Agricultural risks with fast and efficient service.”

Rokstone Agriculture Farm & Ranch will be offering online quote and bind Farm Owners’ insurance, with property, liability and motor combined.

The firm states that cover will initially be on a fully admitted basis across 12 states, with plans to expand nationwide and to add further specialist products to the online farm and ranch portfolio. The division expects to reach $35 million GWP in five years.

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