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.
A solution to protect farmers’ crops assets is currently under way. The Ministry of Agriculture, Food and Agriculture Organisation and Fiji Crop and Livestock Council are working on developing an agriculture insurance scheme. Fiji Crop and Livestock Council chairman Simon Cole said the agriculture insurance scheme, like other types of insurances available, does not make money for them.
Coverage by TARSIM, Turkey's agricultural insurance pool, has increased to 20% today from 0.5% previous to the establishment of the pool in 2005, on the back of strong state support. TARSIM General Manager Yusuf Cemil Satoglu said that the total asset value insured by the pool stands at TRY26 billion (US$6.7 billion) while the total area insured is 2 million decares. TARSIM provides cover for 1.5 million policies a present.
AgroInsurance International is happy to announce new dates and place of the 4th International Conference “Agricultural Insurance, Reinsurance & Brokerage in CIS, Europe & Asia”. The next venue will be held on April 16-18, 2018 in Belgrade, Serbia, at the Hyatt Regency Hotel. Conference ‘early bird’ registration starts on November 13, 2017.
Farmers have welcomed the new insurance scheme launched by the Ministry of Agriculture and Animal Resources. Farmers said the new scheme will help improve the sector and make it more competitive. The national agriculture insurance scheme will enable farmers to benefit from a subsidised agro-insurance cover. The official said the project, currently in the pilot phase will be implemented in partnership with insurance companies, enabling farmers to acquire policies to safeguard their agriculture activities.
Within a project initiated by KfW on Agricultural Insurance in Serbia, in May-June 2017 a training of loss adjustment was delivered to Generali Insurance Serbia experts. The training was developed and delivered by experts of AgroInsurance International in a consortium with AFC Agricultural & Finance Consultants GmbH. The training activities aimed at building capacity for practicing agricultural field underwriting and loss adjustment for the six selected crops: wheat, barley, corn, sunflower, soya bean and sugar beet.
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