Insurers make $5 billion profit under crop insurance scheme

Insurers in India had made a profit of nearly 400 billion Indian rupees ($5 billion) under the central government's flagship crop insurance scheme over the last over five years, Pradhan Mantri Fasal Bima Yojana, Asia Insurance Review reported citing The Times of India. Insurers paid claims of INR1.19 trillion to farmers compared to aggregate premium income of INR1.59 trillion.