Despite the #economic importance of the #agricultural sector to many #African countries, the agricultural #insurance #market in #Africa is #underdeveloped, with low penetration and a limited range of #products. In 2020, #African #agricultural insurance premiums were #estimated at $320m, representing 1.6% of total African non-life insurance premiums of USD 19,730 #million. Despite being slightly higher than the #global share of 1.3%, there is a large untapped #potential.
Source: Reinsurance News
