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As an effort to protect Livestock Farmers from the financial impact of drought and pasture degradation, Africa Re in collaboration with the Livestock Productivity and Resilience Support Project (L-PRES); a consortium of Insurance Providers and Development Partners has officially introduced a product called "Index-Based Livestock Insurance" (IBLI).
This introduction was done at an event held in Transcorp Hilton, Abuja on 24th July, 2025 with the support of the Nigerian Government represented by the Ministry for Livestock Development, hence bringing together stakeholders from affiliated Government Agencies, Insurance Sector and Development Institutions to mark a significant step in tackling climate related vulnerabilities and strengthening the livestock Value Chain.
This parametric approach is said to enhance transparency, efficiency and trust in Insurance as a tool for managing risk.
however the pilot phase is programmed to run from August 15th 2025 to March 30th 2026 targeting 20,000 Livestock Farmers across Northern Nigeria.
August 8th, 2025/Nigeria
https://www.reinsurancene.ws/
