FBN Spins Off Insurance Business
In the past few weeks, FBN transitioned its insurance business to Patriot Growth Services, ranked as the 26th largest broker in the U.S. by Business Insurance.
What was once known as FBN Insurance will now be known as Momentum Ag.
"We are thrilled to join the Patriot family. With the launch of Momentum Ag, we are creating a unique agriculture insurance agency rooted in white-glove service, while delivering a technology-enabled experience for our customers," said Lucas Strom, President and Founding Partner of Momentum Ag. "Our collective team has over 500 years of experience in the industry, and we have strong relationships with our AIP and carrier partners to continue growing and supporting our clients across the country. Joining Patriot will expedite our growth goals and offer our customers more products and services than ever."
Momentum Ag will offer crop, livestock, and health insurance products. The business has more than 50 employees, including 41 agents, and is licensed in all 50 states.
Patriot sees this acquisition as a strategy to expand its products into the agricultural insurance market.
"I'm excited to extend a warm welcome to the Momentum Ag team," said Matt Gardner, Chairman and CEO of Patriot. "Momentum Ag's integration into our rapidly expanding agriculture niche enhances our capacity to deliver superior solutions to our farm clients throughout the United States. Lucas and his team have built an extraordinary agency, and Patriot is eager to support them as they continue on their growth journey."
Crop insurance products include:
- ECO/SCO
- Hail
- Margin Protection
- MPCI
- STAX
- Whole Farm Revenue Protection
Health insurance options include:
- Enrollment for groups as small as 1 employee up to 500+
- Nationwide provider networks
- $0 preventive care and telemedicine visits
- Optional enhanced ambulance coverage
- Personal account representative to help with claims, billing and enrollment
Livestock insurance products include:
- Animal Mortality
- Annual Forage
- Dairy Revenue Protection (DRP)
- Livestock Gross Margin (LGM)
- Livestock Risk Protection (LRP)
- Pasture, Rangeland & Forage (PRF)
