Tuesday
December 19
2017

Allianz invests $100M in micro-insurer BIMA

LONDON, Dec 19 (Reuters) – Allianz has invested $96.6 million in micro-insurer BIMA, which sells insurance by mobile phone in Africa, Asia and Latin America, Germany’s largest insurer said on Tuesday.

The deal values the company at $290 million including debt, Stewart Langdon, partner at exiting investor LeapFrog Investments, told Reuters.

Micro-insurance is insurance for low-income people, typically living in emerging markets.

Source: Reuters (link opens in a new window)

Categories
Investing
Tags
insurance, microinsurance