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Russian manufacturer receives record compensation for hogs lost to ASF

AlfaStrakhovanie paid more than 1 billion rubles to settle losses to African swine fever (ASF) at five pig farms, with 850 million rubles received by one of the farms. This is the largest payment ever made by an insurance company in the domestic agricultural insurance market.

Russian manufacturer receives record compensation for hogs lost to ASF
Photo by Alexey Chumak /V&L

“The 850 million rubles paid to one of the producers became a record payment ever made not only in the farm animal insurance sector but in the entire Russian agricultural insurance market,” Korney Bizhdov, the President of the National Association of Agricultural Insurers (NAAI), was quoted as saying in the company’s press release.

Before that, the largest payment was also compensation for losses to ASF. According to the head of the association, in 2021, the RSHB Insurance company paid 539 million rubles to an affected manufacturer in the Pskov region.

He also said that the total amount of losses reimbursed by agricultural insurance in 2023 has already reached 3.5 billion rubles. According to NAAI, about 16 million pigs are currently insured in Russia, which exceeds 60% of the total commercial pig farm stocks.

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English version, 21 Sep 2023 02:53
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