RUSSIA: NAAI: agroinsurance with state support for 7 months grew by 45% y-o-y

24 August 2021 —
According to the National Association of Agriculture Insurers (NAAI), out of RUB 4.3 billion/EUR 49.43 million* of insurance premium for January-July 2021 under agroinsurance contracts, 70% (RUB 3.0 billion) are related to insurance contracts for crop risks. The segment grew by 45% y-o-y, as stated on the NAAI website.

RUB 1.3 billion of premiums were received under livestock insurance contracts: this segment increased by 46%.

A new type of insurance against risks of commercial fish farming, included in the practice of agroinsurance with state support since last year, also increased and brought a premium worth RUB 16 million (vs RUB 9 million a year earlier).

* at the following exchange rate:

1 EUR = 86.9913 RUB (31.07.2021)