Shanghai Anxin Agricultural Insurance Co. Ltd. has established itself as the first insurance company specially for farmers in China.
Zhou Guowei, deputy manager-general of SAAIC, said that starting with a capital of $25 million, the SAAIC has focused attentions on the planting and breeding industries.
Over 200,000 poultry farmers in Shanghai have become the first group of beneficiaries when the Municipal Animal Husbandry Office bought insurance for 150 million poultry.
Statistics from the Ministry of the Civil Affairs shows natural disasters bring China an annual economic loss above $12 billion, with more than 200 million people affected.
© Copyright 2004 by United Press International
