According to the National Association of Agriculture Insurers (NAAI), for the period of January to September 2020, agroinsurance with state support increased by 31% y-o-y, with both crop and livestock insurance showing positive dynamics, as follows from the NAAI report.

As the President of NAAI Korney BIZHDOV noted, positive dynamics will continue until the end of the year. According to the preliminary results, for the first three quarters, volume of the agroinsurance market with state support reached almost RUB 3.9 billion (~EUR 42.19 million*). A major part of the collected GWP was received from crop insurance (RUB 2.7 billion, +31%), total area of insured crops grew by 17% y-o-y. The number of insured livestock also increased, and the volume of GWP of livestock insurance jumped by 27%, to RUB 1.2 billion.

Korney BIZHDOV emphasized that "NAAI expects the upward trend to continue until the end of the year. Today, the main drivers are not only active incentive measures in the regions, but also growing interest of farmers in protection against natural risks, which are becoming more pronounced in almost all regions of the country", he said.
* at the following exchange rate:
EUR 1 = RUB 92.4302 (as of 01.10.2020)