Guinea Insurance expands agricultural insurance for Nigerian farmers

Guinea Insurance Plc has insured roughly 50 farmer groups, including agritech firms, within the past six months as demand for climate‑risk protection grows. The company’s Agricultural Insurance Desk, fully operational since 2023, now offers coverage for crops, poultry, livestock, fisheries, and farm property owners.

Managing Director Ademola Abidogun says smallholder farmers are the biggest beneficiaries because they face higher exposure to floods, drought, pests and other production risks and have limited access to finance. To boost uptake, the insurer has intensified awareness campaigns through agritech partnerships and community engagements, such as a recent farmer outreach in Iseyin, Oyo State. Claims are reportedly settled within a week after field assessment. Guinea Insurance plans to deepen these programmes to further increase agricultural insurance adoption across Nigeria.