The estimated compensation for agricultural insurance rose to 772 million euros in the first half of the year and already exceeds the total paid out in 2022

Agroseguro estimates that compensation for the first half of 2023 will rise to 772.62 million euros. This figure already exceeds the 769 million euros paid to insured producers in 2022 as a whole, the year with the highest claims rate in the history of agricultural insurance, irrespective of all the agricultural and livestock claims that may occur in the second half of the year.

Of the total, 687.44 million euros relates to agricultural losses and 85.18 million euros to livestock insurance as a whole. By line, arable crops had accumulated claims of 388.85 million euros to 30 June, a very provisional figure and to which will be added the claims that Agroseguro will continue to receive in the following weeks. The lack of rainfall during the first months of the year is responsible for the biggest loss in the history of agricultural insurance, aggravated by hail storms in recent weeks.

In addition, compensation for insured fruit growers in the current season is estimated at 75.82 million euros; 48.17 million euros in vineyard claims; 43.93 million euros for citrus growers; 35.01 million euros for damage to garlic and a further 34.16 million euros for vegetables combined. The remainder, up to the total amount, relates to losses in cherry, almond and persimmon trees, among other crops. 

All the information on the damages recorded in the first half of the year can be found here: https://agroseguro.es/sala-de-prensa/informe-de-siniestralidad/

Agroseguro today pays out 66 million euros for losses recorded in the current season

Every week, Agroseguro continues to pay claims registered in the current season. Specifically, 66.57 million euros is today being paid to insured farmers and livestock breeders.

Of the total amount, 40.6 million euros relates to losses on arable crops, including a payment of 15.05 million euros to farmers in Castilla-La Mancha (especially Cuenca, with 11.12 million). In total, Agroseguro has already paid 49.13 million euros to cereal growers in the region in the current season. In Aragon, Agroseguro is paying 9.42 million euros today, in addition to the 13.72 million euros transferred last Thursday. This brings the total already paid to 23.16 million euros.

In addition, the earlier growing areas of the peninsula are seeing progress in the payment of compensation, such as Andalusia (2.82 million euros paid today; 45.16 million euros in total) or Catalonia (4.09 million euros paid today; 47.34 million euros in total). Agroseguro also continues to compensate claims in Ávila, Salamanca, Valladolid and Zamora (Castilla y León), provinces where damage assessment begins first due to the early season characteristics of their production. Specifically, a payment of 7.34 million euros has been made today, bringing the total to 18.42 million euros already paid.

With the payment made today, 200 million euros in compensation has been paid in 2023 to producers of winter cereals, legumes or rapeseed, even without having begun to pay claims in key producing areas, all of them late producers, such as Burgos, Soria and Palencia, as well as León, La Rioja or Álava.

Finally, Agroseguro today paid another 19.79 million euros to insured fruit tree producers. A payment of 17.8 million euros to fruit growers in the Region of Murcia stands out, in addition to the 5 million euros already paid out in previous weeks for damage to very early-season fruit.