MICROCAPITAL BRIEF: Allianz Invests $97m in Bima, Provider of Microinsurance in Africa, Asia, Latin America; Leapfrog Investments Exits

The German insurance company Allianz, through its digital-investment unit Allianz X, recently invested USD 96.6 million in Bima, a provider of microinsurance that is headquartered in Sweden and the UK. As part of the deal, LeapFrog Investments, a private equity fund based in Mauritius, is selling its stake in Bima. The sizes of the stakes have not been disclosed.

Bima, which was founded in 2010, provides insurance and medical consultations via mobile phones to 24 million customers in Africa, Asia and Latin America as of 2017.

Allianz, which was founded in 1890 and is headquartered in Munich, has 86 million customers in 70 countries. For the year 2016, the company had EUR 1.87 trillion (USD 2.2 trillion) in total assets and EUR 122 billion (USD 145 billion) in total revenue.

LeapFrog Investments, which was founded in 2007, invests in businesses in Africa and Asia that serve “emerging consumers, often accessing insurance, savings, pensions or credit for the first time.” Its investees serve 51 million people in 21 markets. It has garnered approximately USD 1 billion in investor commitments as of March 2016.

By Ryan Gauthier, Research Associate