Tashkent hosted an international conference on the achievements, experience and opportunities of Semurg Insurance in agricultural insurance.

The event, organized by Semurg Insurance, the Ministry of Agriculture, the Insurance Market Development Agency under the Ministry of Finance, was attended by local and foreign representatives of the sector.

At the conference, insurance experts shared best practices with participants in the agro-industrial market of Uzbekistan. Risk management issues and improving the efficiency of the agricultural sector of Uzbekistan were discussed. Optimal opportunities for insurance and crop protection were considered.

Participation in the event of large reinsurance companies from Switzerland, Germany and France (Swiss Re, Hannover Re, Scor Re and Axis Re), supporting Semurg Insurance in insuring cotton and winter wheat crops in Uzbekistan, as well as their experience will become a practical help for local producers.

Georgy Lavrishev, Chairman of the Supervisory Board of Semurg Insurance and Challenge Group CEO, spoke about a new crop protection insurance product. It was developed in 2021 by Semurg Insurance and the world’s largest reinsurer and world leader in the protection of agricultural risks – the Swiss Re. The goal of the new product is to help the agricultural producer receive payment in the event of a crop failure and to minimize the risks from the outset.

Olena Sosenko, a representative of Germany’s InsuResilience fund, Marcel Andriesse, a member of the InsuResilience fund’s investment attraction working group, Michael Lahey, head of the agricultural reinsurance department at AXIS Re, and others spoke about the experience of the global agricultural insurance market at the event.

Nasiba Ziyodullayeva, UzA