A growing sector
Agricultural, livestock and bloodstock business
Feeding the world population will remain a significant issue and require increased (re)insurance protection.
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In this highly specialised line of business, clients seek not only reinsurance support but also advice and expertise.
Our team of specialists, comprised of agronomists and a veterinarian, is based at our Hannover office and operates worldwide. We serve our customers in a number of different languages, including English, German, Spanish, Portuguese, French, Chinese, Polish, Russian and Ukrainian. Agricultural and livestock insurance is gaining in importance not only in developed countries but also in emerging markets, where governments are increasingly supporting farmers with premium subsidies. We therefore anticipate increased demand for agricultural and livestock insurance.
Our target business
Principal lines of business and perils insured are:
- Hail insurance: Hail and possibly other named perils such as fire
- Multi-peril crop insurance (MPCI): Storm, flood, frost, hail and drought
- Forestry and greenhouses: Fire, lightning; extended coverage for frost, weight of snow, storm, hail
- Livestock: All risk mortality, natural perils, fire, accidents, diseases, transit
- Bloodstock: All risk mortality, extended coverage
- Aquaculture: All risk mortality, natural perils, algae bloom, diseases, pollution
- Index products
Preconditions for our support
- Specialised underwriters or consultants appointed by the ceding company such as agronomists, veterinarians and biologists for the technical management of portfolios
- All figures based on sound actuarial calculations
Minimum information required
In order to begin discussions on a new programme, ceding companies should provide the following information:
- Insured interest with probable maximum loss (PML) calculation
- Location
- Production system
- Cover period
- Risk acceptance criteria
- Policy sales period
- Loss statistics and premium statistics
- Loss assessment method
- In-depth portfolio history or business plan