Agriculture Reinsurance Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Coverage (Multi-peril Crop Insurance, Crop-hail Insurance, Livestock Insurance, Greenhouse Insurance, and Others), By Distribution Channel (Banks, Insurance Companies, Brokers/Agents, and Others) and Region Forecast 2020-2031.

Agriculture Reinsurance Market size was valued at US$ 17,497.8 million in 2024 and is expected to reach US$ 41,936.6 million by 2031, growing at a significant CAGR of 13.3% from 2025-2031. Agriculture Insurance is the production and financial risks of farmer associated with the shortfall risks of stakeholders such as input suppliers and grain processors. The term ceding can be defined as the insurance of insurance. In reinsurance the insurer bares risk and premium. Governments engagement in subsidized reinsurance and wide participation of private reinsurance industry are the key growing factors of market. The government’s support for agriculture, technology advancement, and technology revolution are the key growth factors of the market. The loss occurring in the Agro industry can be predicted by using satellite images in real-time.

In addition, the technology also contributes to mitigating the information between the insured and reinsurer, this is expected to boost the growth of the market. The increasing need for having an alternative capital in order to level up the massive demand drives market growth in some countries. Government support also fuels the market growth. For instance, the Indian government has committed itself in funding the reinsurance scheme due to profitable social and economic benefits strong crop insurance market. Asia Pacific region is the prominent region to show significant growth in the market due to its natural diversification owing to large number of Agro-climatic zones. Hence, geographically Asia Pacific region is expected to hold the major market share and is expected to dominate the global market in the forecasted years.

Key Developments:

• In August 2019, Indian Government-owned Agriculture Insurance Company (AIC) plans to launch crop reinsurance services abroad, particularly in other South Asian countries like Nepal, Sri Lanka, and Bangladesh and the Philippines.
• In September 2021, Global reinsurer MS Amlin AG (MS AAG) has entered the agriculture reinsurance market.
  In March 2023, Ceres Imaging releases AI data analytics suite for Agriculture reinsurer.