Allianz invests $100M in micro-insurer BIMA
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.