Mahindra and LeapFrog in Strategic Partnership to Design and Deliver Insurance Solutions to Millions in Rural India
|Business Wire, Inc.|
LeapFrog’s investment of nearly
MIBL, a wholly-owned subsidiary of Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance), has achieved extraordinary growth and profitability over the past eight years. The business is currently valued at approximately
Since inception in 2004, MIBL has serviced over 2.5 million people, the vast majority of whom reside in rural or semi-urban areas. LeapFrog and MIBL will partner to grow the business, providing financial safety and springboards to escape poverty at a scale that is unprecedented in
MIBL is LeapFrog’s second investment in the Indian market in the last twelve months, reinforcing its commitment to financial inclusion in
Building on Mahindra Finance’s extensive rural footprint, MIBL aims to become India’s leading insurance broker by 2015. LeapFrog’s capital and specialist insurance expertise will enable MIBL to deepen and extend its presence in rural and semi-urban communities with expanded product offerings and innovative new initiatives that will transform financial inclusion for the rural poor.
About LeapFrog Investments
LeapFrog is the world's largest investor in inclusive insurance and related financial services. Launched with former US President Bill Clinton, the fund invests in companies serving the next billion, the vast untapped market of emerging consumers in Africa and Asia. LeapFrog brings distinctive value-adding support and global best practices in insurance to its portfolio of companies. As a leading impact investor, LeapFrog aims to generate robust investment returns while reaching and protecting 25 million low-income and excluded people.
Investors in LeapFrog's high impact investment fund include global banks such as JP Morgan, Triodos,
About Mahindra & Mahindra Financial Services Ltd.
Mahindra & Mahindra Financial Services Ltd (Mahindra Finance), is part of the US
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Mahindra & Mahindra Ltd
Senior Vice President – Group Communications
Director of Global Engagement and Strategic Projects
Source: LeapFrog Investments
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