The inaugural meeting of the China Fishery Mutual Insurance Society was held in Beijing on March 17. Vice Minister Ma Youxiang of the Ministry of Agriculture and Rural Affairs (MARA) attended the meeting and delivered a speech.  

At the meeting, it pointed out that setting up the China Fishery Mutual Insurance Society is an important measure for ensuring the role of financial services in China’s rural revitalization strategy and building up China’s strength in agriculture. It is also an important means of improving the fishery risk coverage system. It is of great importance to the improvement of fishery risk coverage and the high-quality development of fisheries, marking a new stage in the development of China’s fishery insurance. 

The head of the Property and Casualty Insurance Supervision Department of the China Banking and Insurance Regulatory Commission (CBIRC) read the approval letter of launching the China Fishery Mutual Insurance Society. Heads of the China Fishery Mutual Insurance Society and the China Fishery Mutual Insurance Association (FMIA) addressed the meeting respectively. Representatives from the Secretariat of the Office of the Central Leading Group for Rural Affairs, relevant departments and bureaus of MARA, relevant industrial associations and fishery companies attended the meeting, along with experts, scholars and the main founders of the China Fishery Mutual Insurance Society. 

The China Fishery Mutual Insurance Society is a professional fishery insurance institution approved by the State Council. Initiated by the FMIA in cooperation with some provincial fishery mutual insurance associations. It accepts industrial guidance from MARA and regulation by the CBIRC. It provides property loss insurance, liability insurance, accidental injury insurance and reinsurance for the fishery industry.