Microinsurance fund LeapFrog invests $6M in Africa’s AllLife

Microfinance Focus, Dec. 2, 2009: LeapFrog Investments, a major microinsurance investment fund, has announced a ZAR 50 million (over US$6 million) investment in AllLife, the innovative South African insurer serving people living with HIV and diabetes.
The investment brings together LeapFrog, the leading microinsurance investment fund, and AllLife, one of Africa’s most innovative insurance businesses. The announcement was made on the occasion of  World AIDS Day on Dec. 1.
“AllLife has developed a distinctive and profitable business model, reaching customers that other insurers have been unable to access,” says Gary Herbert, a LeapFrog Principal. “LeapFrog is providing AllLife’s team with support to grow their client base by several multiples, and expertise to help management cascade their unique systems into new products and markets.”

In total, 250,000 policyholders and dependents will have the financial security that insurance provides, said a statement. Access to insurance has also been shown to reduce stigma associated with HIV, and measurably improve health outcomes. According to Beerman, the company sees an average 15% improvement in clients’ health, just from having an AllLife insurance policy.

LeapFrog Investments manages the world’s first microinsurance fund. Launched in 2008, LeapFrog has raised $47 million to date from leading banks, funds, and microfinance and insurance investors. Its profit-with-purpose investment approach has been hailed by many global leaders as a new frontier for alternative investment and microfinance.

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