New crop scheme to boost agriculture insurance business – Feedback

With the government launching a new crop insurance scheme from April, the industry hopes that the move is likely to more than double the agriculture insurance business within very first year of implementation of the scheme.

“All the 11 general insurance companies, which offer agri insurance business, have business of around Rs 5,000 crore and it is likely to cross Rs 13,000 crore by the end of the next fiscal year as I expect many new players entering the fray in an aggressive manner,” Agriculture Insurance Company (AIC) chairman and managing director P J Joseph told PTI.

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