Elders has reported earnings of $5.6 million from the 25% of Elders Insurance it held until it sold down its stake to QBE.

The insurance business is part of Elders’ rural services arm. The company now holds 10% of Elders Insurance after selling 15% to QBE for $27.4 million in September.

QBE bought the Elders underwriting operation and 75% of the agency network in 2009. It now holds 90% of Elders Insurance.

Elders has sold businesses over the past year to restructure as a pure agribusiness.