Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced recently that their global agriculture platform, AgriSompo, has entered into a strategic broking relationship with InVivo Group, a national union of 201 member cooperatives representing more than half of all farmers in France.
Working through the Group’s Bioline Insurance subsidiary, AgriSompo will offer crop insurance solutions to the French agricultural market.
With a collaborative and flexible approach, AgriSompo delivers customized traditional and parametric crop insurance and reinsurance products quickly and efficiently to all participants of the agriculture value chain, from farmers, cooperatives and input providers, to agents, brokers and insurance companies in key markets around the world. Bioline Insurance is dedicated to the transformation of farming.
With a deep understanding of the French crop insurance market, Bioline Insurance provides the cooperatives and farmers it represents with access to leading, innovative risk management providers and services in order to meet the needs of mankind through healthy food.
Mr. Kris Lynn, Chairman, AgriSompo and Senior Vice President, Global Agriculture, Sompo International commented, “By combining Sompo International’s experience developing leading-edge crop insurance products with Bioline Insurance’s strong network and reputation in the French crop market, we will have the opportunity to deliver meaningful solutions that address the evolving insurance needs of this growing market. We believe that working alongside InVivo and Bioline Insurance, we will be able to broaden our relationship and effectively introduce innovative products and technologies that support their sustainability goals.”
Mr. Florian Dupuy, CEO of Bioline Insurance commented, “As we continue to explore unique ways to improve agricultural production while reducing and managing losses throughout the food chain, we believe the AgriSompo team with its extensive agriculture insurance capabilities and breadth of products is well positioned to work alongside our cooperative members and farmers as they look for innovative ways to manage their risks. We believe this strategic partnership will enable us to further reach our target market and provide critical crop insurance protection to the broader French agriculture market.”