NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tuesday, December 19, 2017

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.