Reinsurance News
14th November 2018
JBA Risk Management, the global flood risk modeller, has partnered with international specialty insurer Chaucer on the development of a new catastrophe model to help re/insurers price and assess their exposure within India’s Crop Insurance scheme, Pradhan Mantri Fasal Bima Yojana (PMFBY). The launch of the India Crop model is intended ... Read the full article
7th November 2018
Farmers, insurers and researchers in Queensland, Australia have been working together on a new project to offer a more affordable alternative to multi-peril crop insurance, using index insurance to protect against natural disasters like cyclones. The project has been developed as part of the state government’s Drought and Climate Adaptation Program ... Read the full article
2nd November 2018
Re/insurance broker Aon is collaborating with Oxfam and InsurTech firm Etherisc on a joint program to deliver micro-insurance to small holder paddy field farmers in Sri Lanka using blockchain technology. The parties plan to leverage blockchain to automate parametric insurance products, which will simplify the claims process and remove the need ... Read the full article
29th October 2018
The Insurance Council of Australia (ICA) has lent its support to a series of proposals designed to improve the uptake of farm income and crop insurance for primary producers in Australia. Rob Whelan, Chief Executive Officer of the ICA, said that access to better data, removing unfair taxes, and introducing incentives ... Read the full article
26th September 2018
A series of discussions are due to take place in Argentina this week as the G20 Insurance Forum examines the role of insurers in tackling global challenges. The forum’s first session will examine insurers’ role in boosting resilience and stability in society, and the part insurers play in food security and ... Read the full article
14th August 2018
Spanish insurer Mapfre has partnered with AgriTask, an international precision agriculture provider, to develop a digital claims management system for insurance companies operating in the agricultural sector. The new system integrates relevant geographical information of plots covered by insurance and correlates inspection protocols to the actual location of all policyholders, providing ... Read the full article
31st May 2018
Winemakers in the Bordeaux and Cognac regions of southwest France are facing the prospect of bankruptcy after violent hailstorms inflicted extensive damage across hundreds of vineyards. Official sources estimate 10,000 hectares (24,710 acres) out of a total 70,000 hectares were affected. The impact of the storm on winemakers could lead to ... Read the full article
15th May 2018
Swiss InsurTech firm CelsiusPro has completed a multi stakeholder international tender on behalf of the German development bank KfW and the Central Bank of Armenia for the technical assistance to establish a nation-wide agricultural re/insurance scheme in Armenia. CelsiusPro defined the terms of reference (ToR), organised the international tender for multiple ... Read the full article
10th May 2018
Lloyd’s and catastrophe risk modeller RMS have released a report that claims the global reinsurance industry needs to more fully integrated into current Indian agricultural re/insurance schemes. India is the world’s second largest agricultural economy after China with an Agriculture Gross Domestic Product of US $392 billion, but remains largely uninsured ... Read the full article
26th April 2018
Meteo Protect is to provide parametric weather re/insurance for the second year running to 22,000 olive farmers in Spain following record-breaking temperatures during the summer of 2017. The Agricultural Association of Young Farmers (Asaja), which is the largest professional agricultural association in Spain, will provide the insurance, which protects olive fields ... Read the full article
25th April 2018
Swiss Re Corporate Solutions has launched a new global initiative in collaboration with World Bank Group member IFC, pharmaceutical and life sciences company Bayer, and irrigation manufacturer Netafim, which aims to support smallholders grow their farms into sustainable, commercially viable businesses. The initiative, called Better Life Farming, will offer risk transfer ... Read the full article
13th February 2018
Global reinsurance firm PartnerRe has teamed up with agricultural technology and decision software specialists Farmers Edge in a multi-year partnership that aims to help insurers to close the agricultural insurance gap across all continents. The four-year agreement brings together precision farming technology and agricultural insurance in a deal that the pair ... Read the full article
8th February 2018
Bermuda domiciled property and casualty insurer and reinsurer, Sompo International, has announced plans to acquire Italian agricultural insurer A&A, S.r.l. (A&A). The acquisition of A&A is aligned with Sompo International's recently announced AgriSompo initiative, an international platform designed to provide innovative and coordinated agricultural risk management products tailored to local market needs. The ... Read the full article
1st November 2017
Bermuda based specialty insurance and reinsurance firm Sompo International Holdings Ltd. (formerly Endurance) has launched AgriSompo, an initiative to create an integrated agriculture insurance and reinsurance offering across the globe. AgriSompo will take a common underwriting approach along with shared expertise and technology to deliver a range of re/insurance products to ... Read the full article
26th October 2017
Africa Re, the World Bank, and the federal government are collaborating to improve insurance penetration levels among farmers through affordable insurance packages, Ken Aghoghovbia, Chief Operating Officer/Deputy Managing Director, of Africa Re said in an interview with Nigeria Today. Increased agricultural insurance penetration is expected to play a crucial role in ... Read the full article
