On November 15, Sinochem Insurance Brokers and FOTIC joined with external insurance companies have successfully provided cargo insurance security business for Hubei Agriculture Development Group Co. Ltd. to ensure the transportation of African sesame seeds from Nacala port in Mozambique to China.
Sesame is the main agricultural product in Mozambique, but it is prone to mildew and has extremely stringent requirements on stocking, packaging, and transportation procedures, resulting in relatively conservative underwriting of similar businesses by traditional insurance institutions. After learning about the overseas insurance business needs of Hubei Agricultural Development Group, FOTIC coordinated with Sinochem Insurance Brokers to quickly respond and formulate a plan. Ultimately, with the coordination of all parties involved, Sinochem Insurance Brokers successfully facilitated the shipment of African sesame seeds to arrive in China.
This business expands the scope of Sinochem Insurance Brokers’ international business and achieves a breakthrough from serving customers within Sinochem Holdings to customers in the market.