The International Finance Corporation (IFC), a member of the World Bank group that provides investment and advisory services to the private sector in developing countries, recently announced a USD 75 million equity investment in Guardian Holdings Limited (GHL), a financial services group based in Trinidad & Tobago that operates throughout the Caribbean. Continue Reading »

Allianz, a global financial services company focused on insurance, is re-calibrating its microinsurance schemes to incorporate savings. Continue Reading »

The South Africa Treasury and Financial Services Board recently announced it will introduce legislation with the intention of expanding the reach of insurance products to the low-income population. Continue Reading »

In an interview with business newspaper, Economic Times (ET), co-founder and vice president of Vaatsalya Healthcare Solutions Dr V Renganathan discussed the microinsurance scheme for which he is seeking a grant. He asserts that the plan will offer low-income Indian consumers both hospital care as well as out-patient consultation. Continue Reading »

Recent regulatory changes by Kenya’s Insurance Regulatory Authority that require an increase in the capital of insurance companies and the separation of life insurance business from general business could negatively impact the reach and volume of microinsurance in Kenya. Continue Reading »

Event Name: Microinsurance Summit, London, UK, September 29-30, 2010 Continue Reading »

The Insurance Regulatory and Development Authority (IRDA), India’s insurance regulator, recently announced several draft insurance regulations, with the aim of reducing “unfair practices” and closing an “information gap,” according to A. Giridhar, executive director of IRDA. Continue Reading »

Jordan’s Microfund for Women (MFW), a Jordanian microfinance program for women, has recently launched a microinsurance product, CareGiver, with its partner Women’s World Bank (WWB). The insurance policies are being provided to MFW borrowers, who pay a monthly premium with their loan repayment. Continue Reading »

Daily Independent, a Nigerian newspaper, reports from the 37th Annual African Insurance Conference in Banjul, the Gambia, that African microfinance prospects look bright, but some are concerned about transparency issues. Continue Reading »

In a release from BusinessStandard.com, an online publication of business news in India, it was reported that Bharti AXA General Insurance, an Indian insurance provider, predicts its turnover will increase 70 percent in the next fiscal year, 2010-2011 as a result of distributing its products through microfinance institutions (MFIs). While it is cited that more than 55 percent of the company’s premium revenue comes from motor insurance, it predicts expansion in the microinsurance sector will boost overall revenue. Continue Reading »

According to BusinessDailyAfrica, a news website based in Nairobi, Kenyan insurers are looking to reach the low-end income market through intermediaries such as microfinance institutions (MFIs), sometimes via customers’ mobile phones. Equity Bank, a Kenyan microfinance bank, and Safaricom, a provider of communication services, have launched a mobile-based platform that will allow users to make weekly insurance payments of about KES 10.2 (USD 0.13) to Equity Bank via mobile phone. While an insurance company partner has not been chosen, eight companies have been selected to bid on the right to participate. Continue Reading »

Event Name: Sixth International Microinsurance Conference
Event Date: November 9-11, 2010
Event Location: Hotel Intercontinental, Manila, Philippines
See Our Comprehensive Event Calendar Here:
http://microfinanceassociation.ning.com/events Continue Reading »

The Microinsurance Network Technology Working Group, a branch of the Microinsurance Network that focuses on technology as a means of increasing access to insurance in developing countries, is launching an online microinsurance technology inventory. Continue Reading »

The Microinsurance Network held its first member meeting in Germany on June 2-3, 2010. Continue Reading »

Thank you to the Microinsurance Network for permission to reprint its recent interview with Dirk Reinhard, instigator of the International Microinsurance Conferences:

In light of the upcoming 6th International Microinsurance Conference taking place between 9-11 November in Manila, Philippines, Dirk Reinhard, Vice Chairman of the Munich Re Foundation and member of the Executive Committee of the Microinsurance Network, answers a few questions regarding the past, present and future of this pioneering conference.

Microinsurance Network: How did the first International Microinsurance Conference come about in Munich? What were the aims of this conference and who were behind it?

Dirk Reinhard: Munich Re – which founded the Munich Re Foundation in April 2005 – concerns itself with the great challenges facing the world today – population growth, globalisation, diminishing resources, environmental pollution and climate change. Continue Reading »

According to a recent study entitled “The Landscape of Microinsurance in Africa” published by the Microinsurance Innovation Facility of the International Labour Office (ILO) 2.1 percent of Africa’s 700 million working poor have insurance coverage. The study found that, assuming a feasible insurance coverage level of five percent of gross domestic product (GDP), the potential size of the microinsurance market would be USD 25 billion, as compared to the current market size of USD 257 million. Continue Reading »

A recent article in the Nairobi-based Business Daily Africa newspaper stated that insurance companies in Kenya are increasingly looking towards microinsurance ventures to boost their profits. Continue Reading »