Miles Capital Inc. will now manage $220 million in assets for Farmers Mutual Hail Insurance Company of Iowa (FMH), the two West Des Moines-based companies announced today.

Miles Capital will be the fixed income manager and the assets will be managed by Miles’ insurance asset management team.

Farmers Mutual said in a release it is confident in Miles because the company has a long history of dealing with property and casualty insurer asset management and understands that each client has differing needs.

“Being selected by FMH further validates not only our track record and talented team of professionals but also our singular focus on putting the client first,” said David Miles, CEO of Miles Capital, in a release.