Salaam Takaful, the largest general takaful operator and the first Islamic InsurTech in Pakistan, has added parametric crop takaful to its portfolio.
The Corn Belt of the US which produces 90% of the country's corn grain and almost 30% of the global corn crop, is likely to yield 20-40% less in average during the simulation decade 2046-2055 as compared to yields simulated during 1991-2000 decade.
The financial performance of China United Property Insurance Company (CUPI) weakened in 2021, with return on equity (ROE) likely to have declined to 2.6% from 3.7% in 2020, notes Fitch Ratings.
The Caisse Nationale de la Mutualité Agricole (CNMA) has signed a partnership agreement with the Agrodiv Group to support and develop local insurance activities with the agri-food sector.
Farmers are arguing that the current crop insurance policy which only covers costs such as for seeds and fertilisers, is not enough, calling for coverage to be extended to expected farm output - based on the production trend of a given crop per hectare.
China has unveiled its annual "No. 1 central document" for 2022 that for the first time cites "strengthening financial services for rural revitalisation" as an important measure, indicating that the central government has high expectations of the financial industry and its role in supporting rural revitalisation.
The CBIRC has issued its "Administrative Measures for Agricultural Insurance Underwriting and Claims", to strengthen the supervision of agricultural insurance, further standardise the management of agricultural insurance underwriting and claims, and accelerate the high-quality development of agricultural insurance.
Tunisian Agricultural Mutual Insurance Fund (CTAMA) is working on a radical strategic plan that would involve forming a local or international partnership so as to strengthen its position in the insurance sector in Tunisia.
The Insurance and Pensions Commission (IPEC) has signed an agreement with the International Finance Corporation (IFC) to develop the agricultural insurance market.
China Agriculture Reinsurance Corporation said yesterday that it signed standard reinsurance agreements in 2021 with 35 agricultural insurance underwriting institutions, to bear 20% of insured agricultural losses.