AIA, a Hong Kong-based firm formerly known as American International Assurance, recently announced plans to invest USD 200 million in LeapFrog Investments, a US-based company investing in firms that deliver low-income customers services to advance their health, financial inclusion, and ability to mitigate and adapt to climate change.
LeapFrog Investments was founded in 2007 and mainly invests in healthcare and insurance. Most of the clients served by its investees earn less than USD 11 per day. As of 2023, since its inception, LeapFrog has attracted USD 2 billion in investments, and its portfolio companies reportedly have achieved an average annual growth rate of 24 percent.
AIA, established in 1919 in the Chinese city of Shanghai, serves 41 million customers with individual insurance policies and 17 million additional people via group insurance schemes. As of 2023, the firm is active in 18 markets in Asia and reports total assets valued at USD 303 billion.
By Anaya Jhaveri, Research Associate
Sources and Additional Resources
LeapFrog press release
https://leapfroginvest.com/wp-content/uploads/2023/06/LeapFrogInvestments_FT_Jun2023.pdf
AIA homepage
LeapFrog Investments homepage
Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Download a sample at https://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: Semaai Raises Equity from Accion, XA Network, Beenext, Surge for Technology Supporting Farmers, Agricultural MSMEs in Indonesia
- MICROCAPITAL BRIEF: Paywatch, Visa to Expand Early Access to Wages, Payment Services in Asia
- MICROCAPITAL BRIEF: Oikocredit Loans Yellow of Uganda $5m for Off-grid Solar Energy in Africa
- MICROCAPITAL BRIEF: Baobab+ Borrows $1.3m from Oikocredit to Boost Household Access to Technology, Solar Energy in Rural Côte d’Ivoire
- MICROCAPITAL BRIEF: SBFC Raises $18m from Amansa for On-lending to Small Businesses, Households in India
