In a bid to ensure adequate insurance for farmers’ investments in the country, AIICO Insurance PLC has launched a new product.
While speaking at the launching of the product, the Managing Director of AIICO Insurance Plc, Mr. Edwin Igbiti said the company was at a strategic position to offer agricultural insurance to Nigerian farmers at all levels and investors seeking a spot in the sector.
“AIICO Insurance is uniquely positioned to offer both indemnity and index-based agricultural insurance product to Nigeria farmers at all levels as well agricultural sector investors looking to tap into the potential of the sector.” He said
According to him, “AIICO is taking a strategic position to be a major player in offering agriculture insurance in order to deliver the much-needed protection to the different players in the agriculture value chain.”
“The company’s competitive edge is hinged on its understanding of the exact needs of farmers through the application of knowledge and expertise in this line of insurance business”. He added
On his part, the Managing Director, the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Mr. Abdulhammed Aliyu, commended AIICO Insurance for the initiative aimed at reducing the unemployment rate.
Aliyu added that the product would reduce the risk associated with farming and would enhance agricultural development.
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