Endurance Specialty Holdings has concluded its acquisition of the USA's fifth largest underwriter of federally sponsored crop insurance ARMtech.

During this year Texas-based ARMtech has secured an estimated $410 million in premiums. It has now been bought by Endurance US Holdings.

The company has been an important player in the agribusiness and has insurance expertise and high-tech software development to offer traditional Multi Peril Crop Insurance , Crop Hail, Livestock Risk Protection and other agriculture risk management products through an independent agency network.

Samuel R. Scheef, president of ARMtech said: "I am excited by the opportunity that Endurance's capital strength provides to our clients, agents and employees.

"ARMtech will continue to operate under my day-to-day direction and our staff and management team are committed to continuing to provide our ARMtech clients with the same high quality, personalised service that has positioned us as a leader in the US crop insurance industry."

Endurance president and chief executive officer Kenneth J. LeStrange, said: "ARMtech's commitment to customer service, dedication to technological superiority and knowledgeable approach to underwriting risk in the crop insurance industry aligns superbly with Endurance's values and objectives.

"We are excited to formally welcome ARMtech and its skilled employees and look forward to working together with them."