WASHINGTON, April 28, 2010 — The world's first microinsurance fund, LeapFrog Investments, will announce May 6 at the IFC headquarters, that the fund has raised a record amount for investments in Africa and Asia. LeapFrog will also announce new investor J.P. Morgan among other major institutional investors.
South Africa-based Ross Beerman, CEO of AllLife, a portfolio company of LeapFrog, will be speaking. AllLife is a profitable South African life insurer that exclusively serves people living with HIV and diabetes. Its adherence program makes people with pre-existing conditions insurable. Leaders from IFC, LeapFrog, and J.P. Morgan will also speak at the event.
LeapFrog has been hailed by President Bill Clinton as the Insurer to the Poor. The fund targets both strong financial returns for investors and reaching 25 million vulnerable people in Africa and Asia with quality insurance — protecting their lives, families, property, and businesses.
The fund's profit-with-purpose investment strategy has attracted leading global banks, funds, insurers and microfinance investors " making LeapFrog the largest investor in microinsurance globally.