The ILO’s Impact Insurance Facility and Africa Re partner to enhance the microinsurance markets in Africa

Lagos (ILO News) - The partnership between the ILO’s Impact Insurance Facility and Africa Re will develop the capacity of insurance providers to offer valuable insurance products to the financially excluded population, and will promote cross country collaboration and sharing of good practices among African countries. This partnership will also strengthen substantially Africa Re’s efforts in further developing African insurance market.

“We are thrilled to collaborate with Africa Re to extend better insurance coverage to more low-income households, small enterprises and smallholder farmers. We believe that Africa Re's relationship with the insurance industry and governments across the continent will provide a strategic entry through which we can jointly promote the impact insurance agenda” - said Michal Matul, Chief Project Manager of the ILO’s Impact Insurance Facility.

Find out more about this project and how the ILO's Impact Insurance Facility is enabling insurance to support social and economic development.

Housed at the International Labour Organization, the Impact Insurance Facility enables the insurance industry, governments, and their partners to realise the potential of insurance for social and economic development. The Facility was launched in 2008 with generous support from the Bill & Melinda Gates Foundation, and has received subsequent funding from several donors, including the Z Zurich Foundation, Munich Re Foundation, the World Bank Group, USAID and AusAID.

The African Reinsurance Corporation (Africa Re) was established on 24 February 1976 in Yaounde, Cameroon. The purpose of AFRICA RE, as defined in Article 3 of the Agreement Establishing the Corporation is "to foster the development of the insurance and reinsurance industry in Africa, to promote the growth of the national, regional and sub-regional underwriting and retention capacities and to support African economic development".

For further information and media queries please contact: Aida Lindmeier | E: [email protected] | T: +41 22 799 6478