The Rwanda Agriculture and Animal Resources Development Board (RAB) has launched a subsidised insurance scheme for greenhouse agriculture. It aims to protect farmers against climate-related catastrophes and attract investments.
The SEADRIF Insurance Company and the United Nations World Food Programme (WFP) have launched an impact-based disaster risk insurance policy in Laos. In a press release by WFP, the policy provides pre-arranged financing of up to $1.1m to support communities affected by extreme weather and other natural hazards, complementing the government's existing sovereign policy, which provides financial protection for national disaster response efforts.
Azerbaijan's Agrarian Insurance Fund and Uzbekistan's Agricultural Insurance Fund have signed a cooperation agreement.
The Insurers Federation of Egypt (IFE) has advocated for the development of a broader range of sustainable insurance products that meet environmental, social, and governance (ESG) standards.
A dedicated life insurance programme for dairy farmers is in the pipeline, with the pioneering initiative aiming to provide financial security insurance coverage for over 1,500 farmers and their families under the Dairy Farmers Programme.
Agrifood, an important sector highly dependent on diesel used for planting, harvesting, processing and transportation, will be severely impacted if the conflict lasts any longer due to higher oil and fertiliser prices.
The Senegalese insurance market is doing well, becoming the second largest market in the CIMA zone with premiums of nearly FCFA300bn ($538m). Senegal ranks behind Cote d'Ivoire.
China Agricultural Reinsurance Co (China Agri-Re) has announced a proposed significant change to its shareholder structure, in a move to streamline agricultural insurance operations within one of China's largest farming conglomerates.
Agricultural insurance cannot stand alone but must be placed within the overall value chain in the farming sector, according to Ms Cao Xuan Thu Van, Chairwoman of the Vietnam Cooperative Alliance, the national association representing all cooperatives.
As part of its expansion in Australia, Sompo has recruited a highly experienced team of local underwriters who bring established expertise across property, casualty, financial lines, energy and construction.