MICROCAPITAL BRIEF: LeapFrog Invests $6.8m in AllLife, a South African HIV and Diabetes Microinsurer

LeapFrog Investments, a for-profit, private equity microinsurance fund, has invested ZAR 50 million (USD 6.8 million) in AllLife, a South African insurer for people with HIV and diabetes. AllLife provides life insurance only to those who follow an appropriate health monitoring and treatment program, enabling it to maintain more competitively priced coverage. Mr. Ross Beerman, Managing Director of AllLife said: “These are potential policyholders, willing to pay for reasonably priced insurance and willing to take steps to manage their disease so that they lead long and productive lives. From a business risk and profitability perspective, of course they’re insurable – we simply had to invent systems to monitor and support them in the right ways.”

By: Stefanie Rubin, Research Assistant

About LeapFrog Investments:

LeapFrog Investments was founded in 2007 by Dr. Andrew Kuper. It is a for-profit, private equity fund aimed at earning large returns by investing in and supporting microinsurance initiatives. LeapFrog has raised USD 44 million from a range of public and private investors, including the European Investment Bank, the Omidyar Network, Dutch development bank FMO, Triodos-Doen and Hivos-Triodos, ACCION International, Calvert, and Felipe Medina (a senior Goldman Sachs wealth manager). The LeapFrog team has also committed USD 1 million of their personal money into the fund. The fund focuses on ventures in Africa and Asia, with initial target countries including South Africa, Kenya, Ghana, India, Indonesia, Pakistan and the Philippines.

About AllLife:

Founded in 2006, AllLife is a South African insurer for people with HIV and diabetes. AllLife’s client base grew by 250 percent in 2008 to 5,000 clients and it expects to reach 50,000 HIV positive and diabetic policyholders within a few years. The company has yet to reach profitability as of mid-2009.

Additional Resources:

Source Article: PR Newswire: “LeapFrog Invests $6M in AllLife, Innovative African HIV and Diabetes Insurer,” http://www.prnewswire.com/news-releases/leapfrog-invests-6m-in-alllife-innovative-african-hiv-and-diabetes-insurer-78292717.html

AllLife: http://alllife.co.za/

MicroCapital Universe: LeapFrog Investments: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=LeapFrog+Investments

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