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In 2016, Green Delta Insurance Company Limited started its journey in crop insurance with only 15 farmers. Over the course of the last 7 years, Green Delta has devoted its efforts to spread crop insurance in different parts of Bangladesh, experiencing rapid growth in terms of new farmers onboarded. Green Delta is proud to announce that they have recently achieved a new milestone of 500,000 smallholders farmers across Bangladesh that are now under coverage of their crop insurance. The Green Delta family affirmed they are proud to be a companion of these farmers who are consistently...
Ngano of Lazy Hare and the drought
As part of the latest International Conference on Inclusive Insurance (ICII) with around 1000 participants from over 120 countries discussing how to make insurance more inclusive, and during Day 3 when attendees where discussing the Challenges of Reaching the Client, the Director of Hollard Mozambique ( Israel Muchena ) brought up important lessons learned from successful education programs, mentioning the Ngano of Lazy Hare and the Drought story developed for awareness of insurance based on traditional Mozambican tale. In the introduction to risk through an ancient African oral story (Ngano...
Despite the effects of COVID-19, the Program successfully delivered significant results and it continues building a robust pipeline to strengthen this business line to further develop the markets. Since the launch of GIIF, more than 10.5 million agriculture insurance policies have been issued, with an estimated outreach of 53 million beneficiaries globally. We recognize and appreciate all the hard work that our clients do, and we are grateful for the continuous support of our Donors. Please see below summary highlights under each category. Program launch: The establishment of a new Program “...
The InsuResilience Magazine dedicates this series to the latest developments in the field of Climate and Disaster Risk Finance and Insurance, and showcase innovative and transformative solutions implemented by Partnership members around the world. This first issue, highlights a spotlight on “SMART” Premium and Capital Support - discussed in three highly interesting pieces, contributed by distinguished InsuResilience experts and political leaders: -An exclusive interview with H.E. former Minister Alfred Alfred Jr, Republic of the Marshall Islands and Parliamentary State Secretary Maria...
Sifting grain
Mayfair Central Testimonial Weather Index Insurance is a microinsurance product, launched by Mayfair insurance in Zambia in 2014, and that has been helping small-holder farmers mitigate risks posed by climate change. Derick Chanda (Chairperson – Kangomba Camp) expressed that most of the farmers in the district did not have insurance to rely on, and that whenever they faced problems or challenges with their crops, they were not sure about where to go and who to ask for help. Now that insurance companies like Mayfair have presence in their lands, they have been able to discuss the...
China Weather Index Insurance Project The China Weather Index Insurance Project (China WII) , supported by the British Embassy Beijing, aims to create markets of digital insurance in rural areas by engaging public-private stakeholders. The project partners with policymakers, insurance companies, financial institutions, and insurance-tech players to introduce digital technology-empowered insurances, such as Weather Index Insurance (WII) across the country over the next three years. Despite the COVID disruption, efforts are being made in market landscape studies and insurance product...
George Kuria, CEO of ACRE Africa – GIIF’s long-standing partner in East Africa, attended the FarmKenya Connect live on KTN News and KT Farmers TV along with Mary Njeri Thiong'o (FAO Kenya), Samwel Ogola (Warehouse Receipt System Council) and Harry Kimutai (Ministry of Agriculture). The panel discussed various issues related to finance in agriculture sector in Kenya – challenges and solutions – with a special focus on youth. Mr. Kuria provided insight on the benefits of agriculture insurance in accessing credit and improving livelihoods of farmers, ACRE Africa’s efforts to make insurance...
On Dec 9, 2020, the World Bank Group announced an ambitious target for 35% of its financing to have climate co-benefits, on average, over the next five years. It replaces an earlier target of reaching 28% by 2020, which was in place over the last 5 years. The World Bank – IBRD and IDA – will also seek to ensure that 50% of this financing supports adaptation and resilience. These are two of several announcements about the Bank Group’s commitment to helping developing countries address climate change and adapt to its mounting impacts. Read more. World Bank Group President David Malpass will...
Agriculture is a source of employment for nearly 50% of adult population in Bangladesh contributing to 13% of GDP in 2019. The country is highly exposed to climate change risks: cyclones, floods, droughts and saltwater inundation due to tidal surges. Notably, the 2007 Cyclone Sidr caused $18 million loss in livestock and over $415 million in crop production . Farmers in Tangail suffered millions of losses from Gopalganj flood this year. According to a WBG study , high water stress due to rising temperatures will affect the yield of Aman and Boro rice, the country’s two major staple crops,...
Mozambique is primarily an agricultural economy with more than 75% of the population engaged in rainfall-dependent farming, the majority of whom are smallholder farmers ( USAID, 2018 ). While agriculture contributes to 25% of the country’s GDP, due to Mozambique’s unique location and geography, it is subject to various climate risks such as drought in the southern part of the country, cyclones in the coastal areas and flooding during the rainy reason ( IGC, 2019 ). Most of the smallholder producers have been perilously unprotected against climate change-induced crop failures. GIIF’s...
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