agriculture

Specialty MGA UK adds Wingett as senior underwriter for agriculture

London-based Specialty MGA UK has hired Jonathan Wingett as senior underwriter for agriculture.

Over 1,000 Nigerian farmers receive parametric payout after disease outbreak

An agriculture insurance program is paying NGN110mn ($73,000) to 1,138 ginger farmers in Nigeria after lower yields during the 2023 wet season.

Microinsurance protection gap at 88.5% as vulnerable groups continue to lack cover: report

The microinsurance market presents a significant untapped opportunity, with currently only 11.5 percent of the target population covered by some form of microinsurance product, according to a new survey.

Ethiopian parametric scheme pays out to 51,000 farmers

An agriculture insurance product supported by the UN World Food Programme and Germany’s development agency has made a payout of ETB39mn ($700,000) to 51,000 smallholder farmers in Amhara, Ethiopia.

Accelerant-owned ARU names ex-GuideOne exec Strickland CUO

North Carolina-based specialty farm and agriculture underwriter ARU has hired Joseph Strickland from GuideOne Insurance as its new chief underwriting officer.

FMH acquires crop insurer Global Ag from Axa XL

Farmers Mutual Hail Insurance Company of Iowa has announced the acquisition of crop insurance provider Global Ag Insurance Services from Axa XL.

Patriot adds to agriculture offering with Momentum Ag deal

Patriot Growth Insurance Services has boosted its capabilities in the farming sector with the acquisition of crop and livestock specialist Momentum Ag.

Rokstone launches $21mn bundled US farm and ranch proposition

Expansive specialty MGA Rokstone has launched a new $21mn US farm and ranch package policy under Rokstone Farm Risks Underwriting.

WRMS targets 50 countries for SecuRisk parametric platform by 2025

Agritech and climate risk management firm Weather Risk Management Services is aiming to expand its digital platform SecuRisk to 50 countries by 2025, founder and CEO Anuj Kumbhat has told ESG Insurer.

The growing line of agriculture reinsurance

Michael Leahey, global head of agriculture at Axis Re, explains how farmers have a greater awareness of climate change and what this means for (re)insurers.

AgriSompo Intl adds ex-EMC Re president Smith as SVP

Sompo International hired Mondale Smith in its multinational crop insurance platform, AgriSompo, as SVP and international operations deputy, with the executive most recently serving as president and COO of EMC Reinsurance.

Swiss Re and Europa Re partner on new €1.9bn IDF agri project for Uzbek farmers

The Insurance Development Forum has launched a €1.9bn sovereign risk transfer project through its Tripartite Agreement with the UN Development Programme and the German government to develop and implement a multi-peril indemnity insurance product to help protect farmers in Uzbekistan.

American Financial completes crop acquisition from AIG

American Financial Group has completed its purchase of Crop Risk Services from AIG in a $240mn transaction that was first announced by the parties in May this year.

Rokstone bolsters farm and agriculture unit with Ellis promotion

International specialty MGA Rokstone has promoted Lee Ellis to head of its specialist farm and agriculture arm iFarm Underwriting and added a number of underwriters to bolster the unit.

NFU Mutual to roll out Markel-underwritten parametric heat stress product for UK dairy farms

UK rural insurer NFU Mutual is set to distribute a parametric heat-stress insurance product with broker and coverholder Gallagher for UK dairy farmers.

EC green-lights €1.3bn Polish agri premium scheme

The European Commission has approved a €1.3bn scheme to help Polish agricultural producers with the payment of insurance premiums covering adverse climate events, such as windstorms, floods, landslides and avalanches.

Alliant acquires crop and agribusiness agency Windmark

Alliant Insurance Services has acquired Windmark Crop Division, a Texas-based provider of crop and agribusiness insurance solutions.

Skyward launches global agriculture business led by ex-TMK ag head James Tran

Skyward Specialty has entered another new line of business with the hire of former Tokio Marine Kiln executive James Tran to lead a new global agriculture offering.

ForestRe brand continues following Specialty MGA UK acquisition with LSM capacity

Agriculture and forestry reinsurance business ForestRe will continue under its own brand as part of Specialty MGA UK, with Lloyd’s binding authority capacity provided by Liberty Specialty Markets.

Specialty MGA UK acquires commercial forest and plantation underwriter ForestRe

Recently launched Specialty MGA UK has expanded its agriculture offering with the acquisition of commercial forest and plantation specialist ForestRe.

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