According to the National Association of Agriculture Insurers (NAAI), in 2021, the market of subsidized agroinsurance again saw positive dynamics: GWP increased to RUB 7.7 billion (EUR 91.59 million*), of which RUB 5.5 billion came from insurance of crop risks, RUB 2.2 billion - from livestock insurance, and RUB 0.1 billion rubles - from insurance of commercial aquaculture, according to NAAI.

In addition to subsidized contracts, farmers also purchase additional policies, and the volume of this market annually exceeds RUB 1 billion. Thus, considering the non-subsidized segment, total agroinsurance market in Russia by the end of 2021 is expected to reach at least RUB 9 billion, as the NAAI President Korney BIJDOV believes.

The most active development is observed in subsidized livestock insurance, GWP in which increased by 42% over the year. The insured livestock increased by 36%. "Subsidized insurance protection is in very high demand among livestock farmers for the third year in a row", noted the NAAI President.

Crop risk insurance remains the largest segment of agroinsurance with state support and accounts for more than half of GWP - in 2021 it reached RUB 5.5 billion, thus this segment grew by 9% y-o-y.

* 1 EUR = 84.0695 RUB (01.01.2022)