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In collaboration with the Livestock Productivity and Resilience Support Project (L-PRES), Africa Re is introducing a new index-based livestock insurance product in Nigeria.
The initiative is being implemented by a consortium of insurers comprising REX Insurance, Leadway, AIICO, NAIC, and NSIA Insurance, with technical support from Dalili Advisors.
The insurance product is based on a parametric model that uses satellite data to monitor environmental conditions. It provides financial compensation to livestock farmers in the event of drought or pasture degradation.
The pilot phase will run from 15 August 2025 to 30 March 2026, targeting 20 000 livestock farmers across the states of Sokoto, Bauchi, Adamawa, and Plateau.
