Category: Microinsurance

MICROCAPITAL BRIEF: India’s Insurance Regulatory and Development Authority (IRDA) to Revise Microinsurance Product Structure in Effort to Encourage Growth of Industry

The Insurance Regulatory and Development Authority (IRDA), the government agency charged with overseeing India’s insurance market, reportedly is set to release revised guidelines on the structure and features of microinsurance products in order to allow insurance companies to incentivize third-party institutions to sell the products. Continue reading

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MICROCAPITAL BRIEF: Infinity Microfinance Bank, Partnership for Transforming Health Systems 2 (PATHS2) to Expand Micro Health Insurance Coverage in Nigeria

Infinity Microfinance Bank, a Nigerian microbank, and the Partnership for Transforming Health Systems 2 (PATHS2), a program intended to improve Nigeria’s health system that is funded by the UK’s Department for International Development (DFID), reportedly will collaborate to expand PATHS2’s “Micro Health Insurance Scheme” (MHIS) in the country. Continue reading

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MICROCAPITAL BRIEF: Bangko Sentral Ng Pilipinas (BSP) Increases Maximum Microinsurance Benefits for Clients in the Philippines to $11k

The Bangko Sentral Ng Pilipinas (BSP), the central bank of the Philippines, has issued Circular Number 841, which amends the Manual of Regulation for Banks, increasing mandated maximum microinsurance premiums and benefits. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Invests $500k in Equity to Acquire 8% of Kenyan Microinsurer Agriculture and Risk Enterprise (ACRE), Loans $334k to Ecumenical Church Loan Fund (ECLOF) for Technical Assistance

The Grameen Credit Agricole Microfinance Foundation (GCAMF), which is based in Luxembourg and invests in “social businesses,” recently informed MicroCapital that it has made an investment of USD 500,000 in Nairobi-based Agriculture and Risk Enterprise Limited (ACRE), a microinsurance provider that aims to launch products in East and West Africa in exchange for an 8-percent stake in the company. Continue reading

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MICROCAPITAL BRIEF: Industrial Development Bank of India Federal Life Insurance Launches Seven Individual, Group Plans

Industrial Development Bank of India (IDBI) Federal Life Insurance, a joint venture of the government-backed IDBI, the commercial Federal Bank of India, and Belgian insurer Ageas, has launched four individual and three group insurance plans in India. Continue reading

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MICROCAPITAL PUBLICATION ROUND-UP: Microcredit Summit Campaign Report; responsAbility Financial, Social Impact Assessment; Microinsurance Education in Zambia

“Resilience: The State of the Microcredit Summit Campaign Report, 2014;” published by RESULTS Educational Fund; 2014; 68 pages; available in web format at http://stateofthecampaign.org/2014-report-executive-summary/or for purchase as a PDF or in print form at http://www.scribd.com/doc/229959504/Resilience-The-State-of-the-Microcredit-Summit-Campaign-Report-2014

This report examines the reach and effectiveness of microfinance institutions (MFIs) on a global scale using data as recent as from 2012. Continue reading

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MICROCAPITAL BRIEF: MicroEnsure Raises $10m in Equity from International Finance Corporation, Omidyar Network, Opportunity International, Telenor Group; First-Time Investors AXA, Sanlam Emerging Markets

MicroEnsure, a UK-based, for-profit microinsurance company founded by US-based NGO Opportunity International, has announced that it has raised a total of USD 10.4 million from six investors including some of the company’s past investors: Opportunity International; the International Finance Corporation (IFC), the private-investment arm of the World Bank Group; Omidyar Network, a US-based social investment firm; and Telenor Group, a telecommunications company based in Norway. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation, Centre International de Développement et de Recherche (CIDR) to Expand Health Microinsurance in Senegal

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the Centre International de Développement et de Recherche (CIDR), a nongovernmental organization based in France, recently announced an agreement “to expand micro health insurance in Senegal to low-income and informally employed individuals”[1] through Pool Micro Assurance Santé, a health services provider in Senegal. Continue reading

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MICROCAPITAL BRIEF: Amret Receives $10m Loan from Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW) for Micro-, Small, Medium-Sized Enterprises (MSMEs) in Cambodia

Amret Microfinance, a Cambodian microfinance institution (MFI), reportedly has borrowed USD 10 million from German development bank Kreditanstalt für Wiederaufbau (KfW) for the purpose of expanding Amret’s financing for small businesses in Cambodia. Continue reading

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MICROCAPITAL BRIEF: Advans Pakistan Microfinance Bank, MicroEnsure, EFU Life to Cover Loan Payments in Case of Sickness, Disability, Death, Death of Spouse

Advans Pakistan Microfinance Bank, a member of the Advans SA group that offers financial services to micro-, small and medium-sized enterprises (MSMEs) in Pakistan, has joined with MicroEnsure Pakistan, a subsidiary of the UK-based MicroEnsure insurance agency, and Eastern Federal Union Life, a private-sector life insurance company in Pakistan, to introduce “Enhanced Credit Cover” for its borrowers. Continue reading

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MICROCAPITAL BRIEF: Airtel Ghana, MicroEnsure, Enterprise Life Roll Out Free Mobile Accident Insurance in Ghana

Airtel Ghana, a subsidiary of Indian telecommunications company Bharti Airtel; MicroEnsure, a UK-based microinsurance company founded by US-based Opportunity International; and Enterprise Life, an insurance company that is part of Ghana-based Enterprise Group, recently announced that 100,000 Airtel Ghana customers have registered for Airtel Insurance. Continue reading

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MICROCAPITAL BRIEF: Thai Office of Insurance Commission Promotes Microinsurance, Introduces $6 Life Product

The Office of Insurance Commission (OIC), a government agency that regulates and supervises the insurance industry of Thailand, has started a drive to promote microinsurance in the country and announced that it will launch a life insurance policy aimed at poor people [1]. Continue reading

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MICROCAPITAL BRIEF: Insurance Commission of the Philippines Promotes Alternative Dispute Resolution in Microinsurance

The Insurance Commission of the Philippines (ICP), a government agency that regulates and supervises the country’s insurance industry, has been holding seminars in various parts of the country to present its latest strategies in consumer protection for microinsurance clients. Continue reading

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