Reinsurance News

agricultural reinsurance

Untapped potential in Africa’s agricultural insurance market: Faber

2nd June 2023

Africa’s agricultural insurance market has a large untapped potential for non-life insurers due to its low penetration and it is key to advancing food production security in the continent, according to the latest edition of the Africa Insurance Pulse on food security and agricultural insurance. The global agricultural insurance market has ... Read the full article

India’s property cat pricing sees significant uplift at April renewal: Aon

12th April 2023

India's property catastrophe pricing increased by double digits at this April's renewal, a significant uplift for the market by historical standards, and higher than those seen in Japan, suggests Aon. Aon's analysts explain that April is the main renewal for India, as it sees a vast amount of the country’s P&C ... Read the full article

The biodiversity crisis is driving a need for reinsurers to better assess related risks: MSCI

31st March 2023

MSCI's Vice President of research Arne Philipp Klug has published a report on the importance of making biodiversity crisis a part of the underwriting process. Klug along with Cody Dong, Senior Associate at MSCI Research, has established a link between biodiversity loss and higher underwriting risks. This relationship is evident ... Read the full article

Ceres Imaging releases AI data analytics suite for agri re/insurers

13th March 2023

Ceres Imaging, a data analytics company that builds AI-driven solutions to protect yields and advance climate resiliency, has released its Risk Solutions product suite, designed to power risk models for agriculture re/insurers and lenders. The new product aims to streamline underwriting and improve claims responsiveness, using Ceres data models that analyse ... Read the full article

Biotech start-up Aanika agrees parametric deal with US crop specialist

9th January 2023

Biotechnology start-up Aanika Biosciences has entered into a parametric food insurance agreement with Satur Farms, a specialty crop producer with operations in New York and Arizona. Aanika will bundle its technology for tracing fresh produce with a novel parametric food recall and contamination insurance policy, which should enable Satur to obtain ... Read the full article

Rokstone Agriculture acquires specialist team to launch new Farm & Ranch Division

30th November 2022

Rokstone Agriculture Risk Underwriters, the US Agriculture division of the international speciality re/insurance MGA, Rokstone, has acquired senior underwriters Joshua Lauth and Michael Theibert to launch a new specialist Farm and Ranch division based in Ohio. Joshua Lauth, who has been appointed President, was previously Agribusiness Region Leader at Westfield. During ... Read the full article

Interview: Why should crop insurance lag on market penetration?

23rd August 2022

It would not be remiss to think that a product that transfers risk from farmers to insurers would be an easier sell, given that the former are less able to handle risk than the latter. Likewise, it should be an easy sell for a product that stabilises the incomes of ... Read the full article

EU could add up to €9.3 billion to farmers annual incomes with “climate-smart actions”

20th June 2022

The EU could add between €1.9bn and €9.3 billion annually to farmers’ incomes if farmers are supported in taking "climate-smart actions", according to a survey by the EU Carbon+ Farming Coalition. Other benefits would include reducing its agricultural greenhouse gas emissions by an estimated 6%, and restoring soil health of over ... Read the full article

Core Specialty recruits Ann Brady as Agriculture SVP

18th May 2022

Specialty property and casualty (P&C) insurer Core Specialty Insurance Holdings has announced the appointment of Ann Brady as Senior Vice President of Agriculture. Brady brings decades of agriculture insurance knowledge, specifically serving as an Agriculture reinsurance broker for the previous twelve years with Guy Carpenter. In her new role, she will report ... Read the full article

Guatemala implements agri scheme for smallholder farmers

16th February 2022

The Government of Guatemala has implemented an agricultural insurance scheme designed to protect smallholder farmers from heavy rains and prolonged droughts. The parametric and catastrophe insurance was designed by the Swiss Re backed Microinsurance Catastrophe Risk Organisation (MiCRO) for the Ministry of Agriculture (MAGA) and is operated by Crédito Hipotecario Nacional ... Read the full article

Crop losses to weigh on 2021 underwriting profits: KBW

15th October 2021

Analysts at KBW have warned that crop losses will likely weigh on insurers’ overall underwriting profits for 2021, despite being overshadowed by more high-profile catastrophe losses such as Hurricane Ida and the European floods. While US crop underwriting losses should pale relative to the larger catastrophe losses in Q3, KBW notes ... Read the full article

MS Amlin AG branches into agriculture reinsurance with PartnerRe hire

29th September 2021

MS Amlin AG (MS AAG), MS Amlin’s reinsurance company operations, has announced its entry into the agriculture reinsurance market with the hire of Rinat Bektleuov as Product Group Lead Underwriter. The agriculture reinsurance offering will be available globally and coverage includes five core products, namely crop insurance, livestock insurance, aquacultural insurance, ... Read the full article

AJ Gallagher acquires Federal Crop Insurance specialist Files Agribusiness

24th September 2021

Global insurance broker Arthur J. Gallagher & Co. has announced the acquisition of Bastrop, LA-based Files Agribusiness, LLC. Founded in 2010, Files Agribusiness is a retail insurance agency that specializes in offering Federal Crop Insurance, agribusiness property and casualty, and agricultural aviation coverages. It serves clients primarily in the states of Louisiana, ... Read the full article

India crop insurance reforms could transform profitability: New Dawn Risk

3rd November 2020

New Dawn Risk, a Lloyd’s broker has announced the release of its new report: Technology brings new opportunities for India's crop insurance scheme. The report details changes that have been made to the government-sponsored scheme during 2020, which are designed to make it more efficient and ultimately more attractive for the ... Read the full article

State-backed agricultural reinsurer approved in China: reports

28th August 2020

A new state-backed agricultural reinsurer has been approved by China's banking and insurance regulator, according to reports from Xinhua News Agency and Reuters. The company is reported to have been established with $2.34 billion in registration capital. Among the nine shareholders to have co-established the reinsurer are the Ministry of Finance, China ... Read the full article