MICROCAPITAL.ORG BRIEF: SCOR Invests in LeapFrog Investments to Gain Experience in Microinsurance Sector

According to The Review, an insurance magazine, the Paris-based reinsurer, SCOR Group, has invested an undisclosed amount in LeapFrog Investments, a microinsurance fund with USD 44 million in equity. A statement issued by SCOR stated, “Our investment in LeapFrog is a demonstration of [our] support of a socially-responsible sector such as microinsurance.” SCOR also said that the “strict investment return criteria applied … to all its investments” was also applicable in this instance. Additionally, SCOR’s CFO, Mr. Paolo de Martin, will be joining LeapFrog’s advisory board.

By: Stefanie Rubin, Research Assistant

About the SCOR Group:

Founded in 1970, the SCOR Group is a global reinsurer providing life and non-life reinsurance in over 120 countries. In 2008, SCOR reported a net income of EUR 315 billion (USD 472 billion), of which EUR 5.81 billion (USD 8.7 billion) came from premiums. It had a 9.0 percent ROE and 2.3 percent investment yield. Its total assets numbered EUR 26.5 billion (USD 39.7 billion), with EUR 18.8 billion (USD 28.2 billion) in investments.

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, 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 own 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.

Additional Resources:

The Review: “SCOR Invests in Microinsurance Fund,” http://www.thereview.biz/thereview/viewArticle.do?citation_dest=TRV:20091120155633

SCOR at a Glance: http://www.scor.com/www/index.php?id=11&L=2

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

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