J.P. Morgan Set to Join World's First Microinsurance Fund - LeapFrog Fund will Unveil Record Investment Amount
'Profit-with-Purpose' Fund Hailed by President Clinton
Massive new investment fund will help 25 million people escape poverty
WASHINGTON, April 28 /PRNewswire/ -- On Thursday, May 6, 2010 at the IFC headquarters, the world's first microinsurance fund, LeapFrog Investments, will announce 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.
The 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 innovative 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 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. LeapFrog has also been recognized by many global leaders and media (including The Financial Times, Fast Company, Bloomberg and numerous others) as opening up a new frontier for microfinance, insurance, and alternative investment.
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WHO: Lars Thunell, IFC Executive Vice President and CEO
Andrew Kuper, President and Founder of LeapFrog Investments
Ross Beerman, CEO of AllLife
John Buley, Managing Director, Social Finance, J.P. Morgan
Mark Byrne, Executive Chairman of Flagstone Reinsurance
Richard Wiley, Founder of Wiley Rein LLP
Wayne Silby, Founding Chair of Calvert Social Investment Fund
WHAT: Final close of LeapFrog microinsurance fund; announcing top-tier new investors; announcing investment strategy for key markets, including: India, Philippines, Kenya, Ghana, South Africa
WHEN: May 6, 2010 at 4:00 pm sharp.
WHERE: 2121 Pennsylvania Ave, Washington DC – IFC headquarters
SOURCE LeapFrog Investments