Compagnie Nationale d’Assurance Agricole du Sénégal (CNAAS) has selected Africa Re, the most prominent African Reinsurer, to lead the reinsurance program of 40,000 cotton and maize farmers in Senegal, jointly with AXA CS and CICA Re, according to a press release issued by Africa Re. The news indicates a positive development in the agriculture sector in Senegal, which accounts for 35% of annual GDP, as the country is facing several climate-related risks including drought and floods, undermining food production and jeopardizing food security. The development of index insurance in Senegal can be

In June 2016, over 60 participants gathered at the College of insurance in Nairobi to discuss best practices and share their knowledge and expertise on index insurance, particularly livestock insurance and agriculture insurance. The discussions were quite timely, as the Government of Kenya recently allocated US$6 million for crop and livestock insurance for smallholder producers for next year, as one of the ‘key government flagship projects to drive the transformative agenda’. This is a five-fold increase in budget from the previous years with strong allocations toward data systems and premium

International Finance Corporation (IFC) and Green Delta Insurance Company Ltd yesterday entered into an agreement to develop insurance products for farmers to protect them from weather-related losses. Advisory support will be provided for distributing the products, increasing lending to farmers and improving their risk profile. Kyle F Kelhofer, country manager of IFC, and Farzana Chowdhury, managing director of Green Delta, signed the agreement on behalf of their respective organisations, according to a statement. “Crop insurance will protect rural economy. Weather-index insurance will help