OREANDA-NEWS. February 12, 2009. ROSNO’s Reinsurance Department has renewed the obligatory reinsurance coverage under the crop insurance contracts for the year 2009, reported the press-centre of ROSNO.

As compared to the year 2008, the obligatory reinsurance capacity has grown, and now is as follows:

3,500,000 euro per one risk/farm (vs. 2,800,000 euro in 2008)

35,000,000 euro per one region/republic (vs. 25,000,000 euro in 2008)

250,000,000 euro for the Russian Federation (vs. 150,000,000 euro in 2008)

These limits apply both to the direct insurance risks and to the risks assumed by ROSNO via the incoming reinsurance channels.

In accordance with ROSNO’s insurance terms and conditions, the obligatory protection covers all winter and spring crops and perennial plantations throughout the territory of the Russian Federation.

By increasing the obligatory capacity in the times of global financial turmoil, the company demonstrates stability of its business. The contract has been placed fully in the Western reinsurance market in the companies Mapfre Re, Swiss Re, and Allianz SE.