Agriculture reinsurance solutions for insurers

As a global reinsurer, Munich Re covers agricultural risks on every continent with solutions tailored to your specific needs. Why not take full advantage of our financial strength and international experience in agricultural reinsurance? In addition, we have local knowledge of your market that enables us to assist you in creating ideal solutions for every agricultural insurance need. 

As an insurer and manager of agricultural risks, you are challenged with controlling and optimizing your portfolio. Our experts in agricultural insurance are able to assist you in accurately assessing the insured risks across types of risks and locations, thus making a valuable contribution to your portfolio management. 

As an agricultural insurance provider, you’re under constant pressure to maintain your competitive edge. Having a strong partner in reinsurance certainly helps. Wherever you are in the world, we can assist you in factoring in the possible impacts of climate change, such as increasing rainfall, heatwaves, droughts, unseasonable frosts, and windstorms. These conditions present serious challenges to your business as an insurer of agricultural risks. And our agricultural insurance experts stand ready to assist you with individual, needs-based reinsurance solutions, as well as advice on product design for the following lines: 

• Crop hail insurance: Coverage of hail on standing crops
• Multi-peril crop insurance: Coverage of all-natural perils (drought, excessive rainfall, frost, windstorm, etc.)
• Revenue insurance: Coverage of natural perils (drought, excessive rainfall, frost, windstorm, etc.) linked to commodity price fluctuations
• Livestock insurance: Coverage includes animal accident and life insurance, transport and quarantine, business interruption due to epidemics, diseases, technical malfunction 
• Greenhouse insurance: Coverage of the failure of technical facilities (e.g. heating, irrigation systems) and natural hazards (hail, wind, etc.)
• Insurance of forestry plantations: Coverage of forestry plantations, risk management of planted trees
• Aquaculture insurance: Coverage of aquaculture stock and equipment

 

Today, farmers find it more and more difficult to rely on stable crop yields. To counteract this trend, particularly in poorer countries, initiatives from the World Bank and other multilateral institutions, non-government organizations and donors increasingly turn to agricultural insurance. This also has application in industrialized countries where, for example, they make widespread multi-peril crop insurance possible.

Governments and the insurance industry want to ensure that farmers can make long-term investments without incurring substantial risks. Public-private partnerships (PPPs) are part of an intelligent solution at national level in which farmers, governments and the insurance industry work together. Our role is to connect the different players and develop optimum solutions, based on our expertise and global business connections. There are already multiple successful PPP models worldwide, which Munich Re builds on when assisting you in the design of a new solution.

Alternative risk transfer products are increasingly establishing themselves as efficient agricultural risk management tools, especially to cover peak risks from natural catastrophes. The creation of insurance-linked securities (ILS) transfers risks to the capital markets - with the possibility to trade these securities on the secondary market. Our dedicated capital market experts would be delighted to advise you on how best to use capital market products to manage specific risks.