NAAI joins AIAG
The board meeting of the International Association of Agricultural Insurers (AIAG) approved joining of the National Association of Agricultural Insurers (Russia) on May 16j.
"NAAI considers that joining the largest and prestigious international organization such as AIAG, will promote the use of world experience to make quality changes in the development of agricultural insurance in Russia, and first of all – in the system of agricultural insurance with state support, – Korney Bizhdov, the president of NAAI, comments. – AIAG unites expertise and knowledge of more than 100 insurance market members from more than 30 countries of the world representing all the five continents and differing in variety of models of the organization of agricultural insurance. The approval of NAAI membership by the Board of AIAG confirms the proficiency level of the Russian crop insurance industry and the role of NAAI as leading professional association of Russia in this branch".
NAAI has been actively cooperating with AIAG since 2013, when a high representative of AIAG came to Russia for the first time being invited by NAAI. The president of AIAG Kurt Weinberger took part in Agricultural Insurance Round Table concerning preliminary results and ways of its development in Russia, which was organized by NAAI on December 9, 2013 in Moscow.
AIAG was founded in 1951 in Paris under the name "International Association of Hail Insurance” by representatives of insurance business of France, Germany, Italy, the Netherlands, Sweden and Switzerland. Thus AIAG became the first transboundary association of insurers in Europe with headquarters in Zurich (Switzerland). Besides insurance companies, the members of AIAG are also reinsurance companies, insurance brokers and insurance associations of the main agricultural producing countries of the world.
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The National Association of Agricultural Insurers was founded in 2007 with active support from the Ministry of Agriculture of the Russian Federation, Ministry of Finance of the Russian Federation, Federal Service of Insurance Supervision and the All-Russian Insurance Association. The Association provided for the consolidation of crop insurance development activities of federal and regional companies, interested in improvement of agricultural insurance, and became the centre of development of modern government-sponsored agricultural insurance, meeting the interests of both agricultural producers and insurers.
So far 23 insurance companies have joined the Association. The overall charter capital of NAAI members makes about 70 billion rubles, total own assets about 150 billion rubles.