Global and China Agricultural Insurance Industry Report, 2013-2014
  • May 2014
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In 2007-2013, the risk guarantee offered by China’s agricultural insurance rose from RMB112.6 billion to RMB1.4 trillion; a total of RMB76 billion was paid to 143 million peasant households as compensation. In 2013, China recorded agricultural insurance premium income of RMB30.66 billion and paid RMB20.86 billion to 31.77 million affected farmers; 1.1 billion mu of main crops were covered (mu, Chinese unit of area, 1 mu = 1/15 of a hectare), accounting for 45% of the country’s main crops sowing area.

Since the implementation of the trial agricultural insurance (mainly crop farming insurance) premium subsidy policy in 2007, central and local governments have subsidized agricultural insurance more and more. In 2013, the central and local financial subsidies were equivalent to nearly 80% of China's agricultural insurance premium.

In H1 2013, China’s crop farming agricultural insurance premium income reached RMB15.458 billion, accounting for 79.89% of the total agricultural insurance premium income. Among it, the premium income from rice, wheat, corn and cotton amounted to RMB12.63 billion; a total area of 600 million mu was covered.

In 2013, 25 ones of 64 Chinese property and casualty insurance companies offered agricultural insurance services, contributing 4.73% (up 0.38 percentage point from 2012) to the total premium income. During the first three quarters of 2013, China Life Property & Casualty Insurance, Ping An, and Sunshine Property and Casualty Insurance witnessed the strongest growth momentum with the respective growth rate of more than 500%. The People's Insurance Company (Group) of China (PICC) was still a main agricultural insurance operator and enjoyed 54.01% market share.

China's first specialized agricultural insurance company – Anxin Agricultural Insurance is engaged in traditional crop farming and aquaculture insurance. In 2013, it earned agricultural insurance premium income of RMB276 million, accounting for 33.2% of the total premium income with a loss ratio of 52.9%.

As the only mutual agricultural insurance company in China, Sunlight Agriculture Mutual Insurance mainly offers crop farming insurance, aquaculture insurance and other agriculture-related insurance. In 2013, the company’s agricultural insurance premium income hit RMB2.354 billion, occupying 91.5% of the total premium income.

As the first foreign property insurance company that provides agricultural insurance services in China, Groupama set up a joint venture – Groupama AVIC Insurance with Aviation Industry Corporation of China (AVIC) in 2012. During the first three quarters of 2013, the company achieved agricultural insurance premium income of RMB613 million, up 87.8% year on year. At the end of September 2013, the establishment of Groupama AVIC Insurance Heilongjiang Branch was approved.

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Global and China Agricultural Insurance Industry Report, 2013-2014 focuses on the followings: 
20120114.gifOverview of global agricultural insurance development as well as agricultural insurance development status in major countries;
20120114.gifDevelopment environment for China’s agricultural insurance, including main policies, the amount of subsidies, etc.;
20120114.gifOverview of China’s agricultural insurance development and market segments (embracing crop farming, livestock husbandry, aquaculture and agriculture-related insurance);
20120114.gifOverview of agricultural insurance market in major Chinese provinces and cities;
20120114.gifOperation, agricultural insurance services, etc. of seven Chinese agricultural insurance companies (involving Anxin Agricultural Insurance, AnHua Agricultural Insurance, Sunlight Agriculture Mutual Insurance, China United Insurance).

1. Status Quo of Global Agricultural Insurance  
1.1 Overview 
1.2 Major Countries  
1.2.1 USA
1.2.2 France
1.2.3 Japan

2. Development Environment for China’s Agricultural Insurance
2.1 Main Policies
2.2 Agricultural Insurance Subsidy

3. Chinese Agricultural Insurance Market Segments  
3.1 Overview
3.1 Crop Farming Insurance 
3.1.1 Status Quo 
3.1.2 Premium Subsidy
3.1.3 Premium Rate 
3.1.4 Problems 
3.2 Livestock Insurance 
3.2.1 Status Quo 
3.2.2 Types of Insurance
3.2.3 Premium Subsidy
3.2.4 Guarantee Level
3.3 Aquaculture Insurance 
3.3.1 Development Background 
3.3.2 Status Quo 
3.3.3 Regional Development 
3.3.4 Business Model
3.4 Agriculture-related Insurance 
3.4.1 Fishing Boat Insurance 
3.4.2 Farm Machinery Insurance
3.2.3 Rural Housing Insurance

4. Agricultural Insurance in Major Chinese Provinces and Cities 
4.1 Beijing
4.1.1 Premium Income 
4.1.2 Premium Income Structure 
4.1.3 Premium Subsidy Policy
4.1.4 Development Planning 
4.2 Jiangsu
4.2.1 Status Quo 
4.2.2 Market Structure 
4.3 Qinghai
4.3.1 Status Quo 
4.3.2 Premium Subsidy Policy
4.3.3 Development Planning 
4.4 Hebei
4.4.1 Status Quo 
4.4.2 Market Pattern 
4.4.3 Premium Subsidy Policy
4.5 Sichuan
4.5.1 Status Quo 
4.5.2 Insurance Coverage 
4.5.3 Premium Subsidy Policy
4.6 Hunan
4.6.1 Status Quo 
4.6.2 Premium Subsidy Policy
4.7 Guangxi
4.7.1 Status Quo 
4.7.2 Market Pattern 

5. Key Agricultural Insurance Companies in China
5.1 AnHua Agricultural Insurance
5.1.1 Profile
5.1.2 Operation
5.1.3 Agricultural Insurance Services
5.2 Anxin Agricultural Insurance
5.2.1 Profile
5.2.2 Operation
5.2.3 Agricultural Insurance Services
5.3 Sunlight Agriculture Mutual Insurance
5.3.1 Profile
5.3.2 Operation
5.3.3 Agricultural Insurance Services
5.4 China Huanong Property & Casualty Insurance
5.4.1 Profile
5.4.2 Operation
5.4.3 Agricultural Insurance Services
5.5 GUOYUAN Agricultural Insurance
5.5.1 Profile
5.5.2 Operation
5.5.3 Agricultural Insurance Services
5.6 China United Insurance
5.6.1 Profile
5.6.2 Operation
5.6.3 Agricultural Insurance Services 
5.7 Groupama AVIC
5.7.1 Profile
5.7.2 Operation
5.7.3 Agricultural Insurance Services

6. Summary and Forecast
6.1 Summary
6.1.1 Industry
6.2.2 Enterprises
6.2 Forecast 
6.2.1 Prospects for Agricultural Insurance Development in GMES
6.2.2 Prospects for Agricultural Insurance Development in China 
Global Agricultural Insurance Premium Income (by Market), 2005/2012  
Global Agricultural Insurance Premium Income Structure (by Region), 2012
Global Agricultural Insurance Penetration and Main Agricultural Statistics, 2011
Livestock Insurance Premium Income and Compensation Expenses in USA, 2005-2013  
Number of Crops Covered by U.S. Crop Insurance, 2000-2013 
Insurance Coverage Rate of Main Crops in USA, 2012  
Insurance Coverage Rate of Field Crops in USA, 2011  
Insurance Coverage Rate of Main Fruit and Nuts in USA, 2011  
Insurance Coverage Rate of Main Vegetable Crops in USA, 2011  
Main Content of Loss-of-Production Insurance in Japan, 2013 
National Average Rate of Loss-of-Production Insurance in Japan, 2013 
Proportion of Agricultural Insurance Subsidized by Government in Japan, 2013 
Main Policies of China Agricultural Insurance Industry, 2004-2014 
China's Agricultural Insurance Subsidies, 2007-2013 
China's Agricultural Insurance Premium Income and Loss Ratio, 2007-2013 
Development of Crop Farming Insurance Supported by Central Finance, 2007 
Crop Farming Insurance Coverage in China, 2007-2013 
Insurance Coverage of Four Major Crops in China, H1 2013 
Crop Farming Insurance Types with High Premium Income Growth in China, H1 2013 
Central Financial Subsidies for Crop Farming Insurance, 2007-2013
Crop Farming Insurance Amount / Premium Rate in Some Chinese Provinces, Municipalities and Autonomous Regions, 2013
Amount Guaranteed by China's Agricultural Insurance, 2007-2013
Proportion of Agricultural Revenue in Rural Household Revenue in Dazhou, Sichuan Province, 2013
China's Livestock Premium Income and % in Agricultural Insurance, 2007-2012
China's Reproductive Sow Premium Income and Compensation Expenses, 2007-2012
China's Fattening Pig Premium Income and Compensation Expenses, 2007-2012
China's Dairy Cow Premium Income and Compensation Expenses, 2007-2012
Loss Ratio of Major Livestock Insurance Types in China, 2007-2012
Output of Aquatic Products in China (by Breeding Method), 2007-2013
China's Aquaculture Premium Income and % in Agricultural Insurance, 2007-2012
Top Five Provinces / Municipalities (by Aquaculture Premium Income) in China, 2012 (RMB10,000)
China's Freshwater Aquaculture Premium Income and Compensation Expenses, 2007-2012
China's Mariculture Premium Income and Compensation Expenses, 2007-2012
China’s Fishermen and Fishing Boat Insurance Premium Income, 2001-2012
Number of Chinese Fishermen Covered by Insurance, 1996-2012
Number of Fishing Boats Covered by Insurance in China, 1996-2012
Per Capita Amount of Fisherman Insurance in China, 1996-2012
Per Capita Amount of Fishing Boat Insurance in China, 1996-2012
Special Subsidies Granted by Ministry of Agriculture of China for Fishing Boat Insurance, 2013
Financial Subsidy Modes for Fishing Boat Insurance in Major Chinese Provinces / Municipalities, 2012
Tractor Driver Calls of Farm Machinery Insurance in Shaanxi Province, 2012
Tractor Calls of Farm Machinery Insurance in Shaanxi Province, 2012
Third Party Tractor Damage Calls of Farm Machinery Insurance in Shaanxi Province, 2012
Other Farm Machinery Calls in Shaanxi Province, 2012
Security Calls for Tractor, Harvester and Other Agricultural Machinery in Hubei Province, 2012
Premium Standards for Policy Farm Machinery Insurance in Jiangsu Province, 2012  
Premium Standards for Policy Farm Machinery Insurance in Shanghai, 2012
Proportion of Financial Subsidies for Comprehensive Farm Machinery Insurance in Shanghai, 2012
Rural Housing Insurance Premium Income in Major Chinese Provinces / Municipalities, 2012
Rural Housing Insurance Premium Income and Market Share of PICCP&C (by Province / Municipality), 2012
Policy Agricultural Insurance Premium Income in Beijing, 2007-2012
Proportion of Accumulated Policy Agricultural Insurance Premium Income (by Region) in Beijing, 2007-2012
Proportion of Accumulated Policy Agricultural Insurance Premium Income (by Company) in Beijing, 2007-2012
Proportion of Accumulated Policy Agricultural Insurance Premium Income (by Industry) in Beijing, 2007-2012
Proportion of Accumulated Policy Agricultural Insurance Premium Income (by Type of Insurance) in Beijing, 2007-2012
Insurance Amount, Premium Rate and Premium of Main Crops in Beijing, 2013 
Insurance Amount, Premium Rate and Premium of Main Livestock Breeds in Beijing, 2013 
Farm Machinery Operator Insurance Amount, Premium Rate and Premium in Beijing, 2013 
Policy Agricultural Insurance Premium and Agricultural Insurance Fund in Jiangsu Province, 2007-2012
Area and Coverage of Main Planting Varieties Covered by Agricultural Insurance in Jiangsu Province, 2007-2012
Number of Reproductive Sows Covered by Agricultural Insurance in Jiangsu Province, 2007-2012
Number of Agricultural Insured Farmers and Beneficiary Farmers in Jiangsu Province, 2007-2012
Agricultural Insurance Market Share (by Company) in Jiangsu Province, 2012
Crop Farming Area Covered by Insurance in Qinghai Province, 2007-2013
Proportion of Aquaculture Insurance Premium Subsidies in Qinghai Province, 2013 
Proportion of Crop Farming Insurance Premium Subsidies in Qinghai Province, 2013 
Proportion of Forestry Insurance Premium Subsidies in Qinghai Province, 2013 
Agricultural Insurance Premium Income and Compensation in Hebei Province, 2007-2013 
Agricultural Insurance Market Share in Hebei Province, 2011 
Proportion of Crop Farming Insurance Premium Subsidies in Hebei Province, 2013
Proportion of Aquaculture Insurance Premium Subsidies in Qinghai Province, 2013
Agricultural Insurance Premium Income in Sichuan Province, 2007-2013 
Crop Farming / Forestry Insurance Coverage Amount in Sichuan Province, 2013 
Agricultural Insurance Amount in Sichuan Province (by Type of Insurance), 2013 
Agricultural Insurance Subsidy Policies in Hunan Province (by Type of Insurance), 2013 
Agricultural Insurance Premium Income and Loss Ratio in Guangxi Province, 2003-2012
Agricultural Insurance Premium Income Contribution of Major Insurance Companies in Guangxi Province, 2011
Revenue and Net Income of AnHua Agricultural Insurance, 2010-2013  
Premium Income and Compensation Expenses of AnHua Agricultural Insurance, 2010-2013
Coverage of AnHua Agricultural Insurance, 2005-2009
Premium Income of AnHua Agricultural Insurance (by Type of Insurance), 2007-2009  
Revenue and Net Income of Anxin Agricultural Insurance, 2010-2013    
Premium Income and Compensation Expenses of Anxin Agricultural Insurance, 2010-2013
Premium Income of Anxin Agricultural Insurance (by Type of Insurance), 2010-2013
Premium Income of Anxin Agricultural Insurance (by Region), 2010-2013
Revenue and Net Income of Sunlight Agriculture Mutual Insurance, 2009-2013 
Premium Income and Compensation Expenses of Sunlight Agriculture Mutual Insurance, 2009-2013 
Agricultural Insurance Premium Income and Compensation Expenses of Sunlight Agriculture Mutual Insurance, 2010-2013 
Revenue and Net Income of China Huanong Property & Casualty Insurance, 2009-2013 
Premium Income and Compensation Expenses of China Huanong Property & Casualty Insurance, 2009-2013 
Agricultural Insurance Premium Income and Compensation Expenses of China Huanong Property & Casualty Insurance, 2009-2013 
Revenue and Net Income of GUOYUAN Agricultural Insurance, 2009-2013 
Premium Income and Compensation Expenses of GUOYUAN Agricultural Insurance, 2009-2013 
Branches of GUOYUAN Agricultural Insurance, 2008-2012 
Agricultural Insurance Premium Income and Compensation Expenses of GUOYUAN Agricultural Insurance, 2008-2013     
Crop Planting Coverage Area and Rate of GUOYUAN Agricultural Insurance, 2008-2012 
Revenue and Net Income of China United Insurance, 2010-2013 
Premium Income and Compensation Expenses of China United Insurance, 2011-2013  
Agricultural Insurance Premium Income and Compensation Expenses of China United Insurance, 2011-2013 
Revenue and Net Income of Groupama AVIC, 2009-2012 
Premium Income and Compensation Expenses of Groupama AVIC, 2009-2012 
China’s Agricultural Risk Guarantees and Growth Rate, 2009-2013
Business Structure of Major Agricultural Insurance Companies in China, 2013
Agricultural Insurance Premium Income of Major Agricultural Insurance Companies in China, 2013
Agricultural Insurance Premium Income of Global Emerging Markets, 2012-2020E  
China’s Agricultural Insurance Premium Income, 2012-2020E

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