To help LeapFrog's approach to tap the market for microinsurance
SCOR, a Paris-based reinsurer, has unveiled its investment in LeapFrog, a microinsurance fund. SCOR joins a set of public and private investors, including the European Investment Bank, Omidyar Network, FMO, Triodos-Doen, Hivos-Triodos Fund, ACCION International, Calvert Large Cap Growth Fund and wealth manager Felipe Medina.
SCOR has planned to invest to support LeapFrog’s approach to tapping the market for microinsurance. The fund invests in businesses that bring insurance products to low-income and vulnerable people in Africa and Asia, and targets strong returns for investors while reaching 25 million beneficiaries.
Paolo De Martin, chief financial officer of SCOR, said: Our investment in LeapFrog is a demonstration of our support of a socially-responsible sector such as microinsurance. The Group believes that the microinsurance sector is a market that has the potential to expand very quickly as it represents more than one billion individuals without access to traditional insurance services such as life, health, disability or livestock insurance.
Beyond financial capital, LeapFrog can also provide portfolio companies with support in business planning, product design, regulatory and risk management, or development of efficient high-volume distribution channels.