RUSSIA: Preliminary half year results of the National Association of Agriculture Insurers show livestock insurance went up by 47%

Preliminary data of the National Association of Agriculture Insurers (NAAI) for the first half of 2018 show that total number of livestock insurance contracts with state support increased from 97 to 143 (livestock enterprises), which according to Korney BIJDOV means growth ofby 47%.

In 2017, the growth rate of livestock insurance with state support amounted to 22% (355 enterprises vs 290 in 2016). "In general, the average amount of insured livestock per eachenterprise is 15 thousand units. In Russia for the first 6 months the total number of insured livestock reached 2.1 million of units", added the president of NAAI Korney BIJDOV. However, he believes that there is also a negative trend - reduction of insurance cover volume. Despite the increase of the number of insured enterprises, average insurance amount per each contract dropped from RUB 318 million to RUB 305 million. Based on NAAI estimation thisit suggests that livestock enterprises try to cut their insurance expenses under conditions of transfer to "unified subsidy".

*EUR 1 = RUB 72.9921 (30.06.2018)

EUR 1 = RUB 67,4993 (30.06.2017)

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