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    Reference: 20190467
    Release date: 16 September 2019

    Promoter – Financial Intermediary

    BLUEORCHARD ASSET MANAGEMENT (LUXEMBOURG) SA

    Location

    Description

    The project consists of an equity participation of up to USD 25 m in Blue Orchard InsuResilience Investment Equity Sub-Fund, targeting climate change adaptation and resilience high growth innovative companies operating in the insurance industry. To this end, the Fund will invest in both insurers that invest in and make use of technology and digital technology companies developing solutions for the insurance industry (so-called Insuretech). The Fund will target investments in key countries in Africa, Asia and Latin America.

    Objectives

    The Fund will invest growth equity in private companies and insurance companies, frequently with an important technology component, that provide data, tech-enabled services and products to manage the risks and impacts being amplified by climate change. These services and products are needed to build out the necessary infrastructure so that vulnerable populations and companies have the ability to protect themselves and take adaptation and resilience requirements into account as part of their investment decisions.

    Comments

    Under appraisal

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    USD 25 million (EUR 23 million)

    Total cost (Approximate amount)

    USD 100 million (EUR 91 million)

    Environmental aspects

    It will be ensured that the project meets the EIB social and environmental standards. It has to be noted that Blue Orchard has become very experienced in environmental, social and governance procedures due its strong relationships with other development finance institutions.

    Procurement

    N/A

    Status

    Signed - 20/12/2019

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Regional - Africa Regional - Asia Regional - Latin America Services