World’s first social impact insurance entity, HUGinsure, announced at the Clinton Global Initiative

Thursday, September 26, 2013

PRESS RELEASE – The world’s first social impact insurance entity, HUGinsure, was launched on Sept. 24 at the 2013 Clinton Global Initiative (CGI) Annual Meeting by Dalberg and Hollard Insurance. This CGI Commitment to Action is in association with Aon and the Lloyd’s market.
These leading players from the global insurance industry are joining forces with Dalberg’s impact investment arm, D. Capital, to bring their risk-management capabilities to the social impact sector through HUGinsure.
In the coming years, over $500 billion in capital will be allocated to fund businesses and organisations that create positive social impact. Too often, however, investors and financial institutions face challenges in assessing the credit worthiness of such organisations, leaving an estimated $300 billion – $850 billion “in-waiting.” Simultaneously, businesses active in creating positive social impact often deal with long and untimely deployment of capital, which disrupts their organisations’ operations and social impact.

Source: Hollard.co.za (link opens in a new window)

Categories
Impact Assessment
Tags
financial innovation, financial products, social capital, social impact