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.
The National Financial Regulatory Administration (NFRA) has issued a notice, urging insurers to play a pivotal role in rural revitalisation in the country.
Three government bodies have jointly issued a notice on strengthening cooperation to promote the high-quality development of hog insurance. The notice addresses issues in hog insurance in China, which is the world's largest producer and consumer of pork, accounting for approximately half of global pork consumption.
Rex Insurance has launched a major push into climate-smart agriculture with a strategic partnership with the Nigerian Meteorological Agency (NiMet), to introduce weather-driven index insurance solutions designed to protect smallholder farmers in Nigeria from growing climate risks.
The Finance Ministry has recommended raising the agricultural insurance premium subsidy level significantly.
Premier Li Qiang has proposed formulating measures to promote the development of agricultural insurance, on top of the progress made to date in this branch of insurance.
The underwriting results of Zhongyuan Agricultural Insurance Co (ZYIC) are expected to remain satisfactory, supported by the strong margins of its agricultural insurance business and ongoing loss-mitigation and cost-control measures, said Fitch Ratings in a commentary.
The Nigerian government has held discussions focussed on two strategic initiatives: reform and recapitalisation of the Nigerian Agricultural Insurance Corporation (NAIC) and the Renewed Hope Cooperative Reform Programme.
The Turkish Agricultural Insurance Pool (TARSIM) has paid out at least TRY257m ($5.88m) to producers hit by floods in Antalya, where agriculture is among the sectors most affected.