Competition in the lucrative farm insurance sector is set to hot up as global giant AXA enters the market.

The Dealer was interested to see that three former executives at FBD, Christy Doherty, Liam McCrea and Hugh O’Neill have joined AXA Insurance Ireland to set up an agri business division.

AXA Ireland is diversifying into farm insurance for the first time.

As one of the largest insurers in the world, it should be welcome news for farmers as it brings more competition into the area. It is expected that the new service will launch later this year.

Wealth of knowledge

Given the wealth of knowledge and experience of the three individuals involved, it looks like interesting times ahead. Zurich entered the farm insurance market five years ago.