Stone Point Capital has acquired Ever.Ag's Risk Management business, an agricultural risk provider combining insurance, advisory and commodity derivatives brokerage, extending the private equity firm's run of US insurance distribution acquisitions into a new specialty niche.
The PE firm has built one of the most extensive insurance distribution portfolios in the US, including a $15.5 billion deal for Truist Insurance Holdings completed in 2024 and a $2.5 billion investment in UK broker Ardonagh Group in 2025, alongside stakes in Alliant Insurance Services and EPIC Insurance Brokers.
The Ever.Ag business serves agricultural producers, processors, cooperatives and manufacturers across the dairy, swine, cattle and grain sectors, helping them manage commodity risk through a mix of insurance placement, advisory services and derivatives brokerage. It will operate as an independent company under its existing management team and adopt a new brand, while maintaining what the companies called a "strong commercial relationship" with Ever.Ag, the ag-tech firm it is being spun out of.
Chuck Davis, Stone Point's chairman and co-CEO, said the business sits "at the intersection of insurance, brokerage, technology and advisory services" - areas the firm has invested in for more than three decades.
For brokers and MGAs working in agricultural and commodity risk lines, the deal is worth tracking on two counts: a newly independent, well-capitalized competitor is entering the market under new branding, and Stone Point's pattern of building out full-scale distribution platforms, rather than making one-off investments, suggests further consolidation in ag-specialty risk management may follow.
Pete Turk, co-founder and executive chairman of the Risk Management business, said Stone Point brings "the experience, resources, and long-term perspective" needed to accelerate its strategy.
