AM Best is maintaining a stable outlook on China's non-life insurance segment given the growth momentum in the motor and non-motor segments, as well as the domestic economic recovery following the removal of COVID-19-related restrictions, partially offset by a weaker 2024 economic outlook.
The Financial Regulatory Authority (FRA) places agricultural insurance at the forefront of its agenda to develop the sector, according to Dr Moustafa Khalil, general manager of the central department for the supervision and control of insurance companies at the Authority.
The National Agricultural Mutual Fund ( Caisse Nationale de Mutualité Agricole (CNMA), the leading agricultural insurer in Algeria.
The government flagship farm insurance scheme, the Pradhan Mantri Fasal Bima Yojana (PMFBY), lacks an independent mechanism to verify the validity of data provided by insurance companies.
The range of insurance products available in China to cover food safety risks is limited, says Swiss Re.
The government is considering allocating INR300bn ($3.6bn) to expand the portal of Pradhan Mantri Fasal Bima Yojana (PMFBY), the state-sponsored flagship crop insurance scheme.
Nigeria's agriculture insurance industry has the potential to produce an annual premium income of over $600m due to its approximately 70m hectares of agricultural land and variety of agricultural markets, the deputy managing director/chief operating officer of African Reinsurance Corporation (Africa Re), Mr Ken Aghoghovbia, has said.
The Namibia Special Risks Insurance Association (Nasria) is set to introduce Weather Index Based Livestock Insurance (WIBLI).
Morocco is working on establishing an index-based insurance system, to better support farmers during periods of drought.
The agricultural insurance coverage rate in Taiwan has increased year by year from 5.79% in 2017 to 51.58% in June this year, according to statistics from the Agricultural and Financial Services Administration.