The initiative marks a significant step in the transformation of Rex Insurance into a data-led insurer, combining financial protection with real-time weather intelligence to help farmers make faster, more informed decisions.

From left: Prof. Charles Anosike, Director-General/CEO of NiMet and  Managing Director/Chief Executive of Rex Insurance Limited, Mrs. Ebelechukwu Nwachukwu.

Rex Insurance will leverage NiMet’s location-specific weather data in its Weather and Hybrid Index Insurance products to guide farmers on when to plant, how to manage their crops, and how to use farm supplies like seeds and fertilizer, while also automatically triggering payouts when extreme weather such as drought, flooding, or irregular rainfall occurs. This will help farmers plan, reduce losses, and not rely solely on compensation after damage.

“Our strategy is to redefine what insurance means for the agricultural sector,” said the Managing Director/Chief Executive of Rex Insurance Limited, Mrs. Ebelechukwu Nwachukwu. “By combining insurance with actionable weather intelligence, we are giving farmers the tools to plan, adapt, and protect their livelihoods in the face of increasing climate uncertainty.”

During the MoU signing, Prof. Charles Anosike, Director-General/CEO of NiMet, highlighted the agency’s 100-year history in weather observation and stressed that climate change increasingly threatens crops, livestock, and rural communities.

He noted that weather index insurance uses measurable weather data to trigger payouts and combined with crop calendar forecasts, helps farmers make smarter planting and harvesting decisions.

Additionally, the MD/CEO of Rex Insurance, Mrs. Ebelechukwu Nwachukwu, added that the company, founded in 1918 as Nigeria’s first insurance firm, is leveraging technology to help smallholder farmers plan more effectively, and announced that index-based insurance for farmers will soon become a reality in Nigeria.

According to Nwachukwu, “Rex Insurance will deploy the solution through its distribution network, using extension agents equipped with mobile devices to deliver both insurance coverage and weather guidance directly to farming communities, ensuring that farmers in remote areas can access these services despite historical challenges with rural insurance penetration”

She further added that “the introduction of weather-driven insurance will help farmers manage risks and protect their livelihoods as the agricultural sector in Nigeria remains highly exposed to climate variations, with increasing frequency of extreme weather events impacting yields, rural incomes, and food security” she stated.

Rex Insurance and NiMet will pilot the integrated solution under the GIZ–EU-funded VACE Programme, with a focus on demonstrating impact and accelerating nationwide adoption. The EU-VACE TARED (Agriculture Value Chain Facility – Transformative Agricultural Systems for Rural Economic Development) project is an initiative funded by the European Union

and the German Federal Ministry for Economic Cooperation and Development (BMZ) to transform Nigeria’s agricultural sector. This is Implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in partnership with Nigerian government.

With this move, Rex Insurance reinforces its position at the forefront of agricultural insurance innovation in Nigeria, aligning technology, data, and partnerships to close the protection gap for underserved farmers.

About Rex Insurance Limited (Rex)

Rex Insurance Limited (Rex) is licensed by the National Insurance Commission (NAICOM) to offer the full range of general and special risks insurance products to the insuring public. With decades of experience in the Nigerian market, Rex Insurance has an enviable reputation for technical competence and financial strength.

With a vision of being the “Preferred Nigerian Insurance Company”, our strategic direction within the next 5 years is to focus on growth and profitability with the aim of growing the company’s gross premium written and be amongst the Top-Top-Tier general insurance companies in the market.

Operating from twelve (12) business locations nationwide to ensure maximum outreach and accessibility, we have an unwavering dedication to our core values of Resilience, Efficiency, eXellence, Integrity & Teamwork (REXIT).

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