[Microinsurancefocus] LeapFrog News - bounding across new frontiers in 2010

Fri Jan 29 01:27:44 CET 2010

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January 2010   

Friends,

We enter 2010 poised for massive growth in the field of impact investing, after 2009 saw a series of historic firsts for microinsurance. LeapFrog is proud to have become the largest dedicated investor in a sector that, according to the new Lloyds global report, has 135 million clients, and a potential market size of 1.5 billion people.

In the fourth quarter, on World AIDS Day, LeapFrog announced an investment of over $6M in AllLife, an innovative South African life insurer providing much-needed cover to people living with HIV and diabetes, and doing it profitably. LeapFrog’s investment will help AllLife reach 250,000 beneficiaries. 

SCOR, a leading global reinsurer, joined LeapFrog’s distinguished group of investors in November – a strong signal of the commercial attractiveness of the microinsurance sector. 

We launched our LeapFrog Global Fellows Program – with applications closing on February 1. So be sure to send this newsletter along to the next generation of leaders in frontier financial services…

Our team – in Sydney, Johannesburg, Edinburgh, and Washington – continued to grow.  We are thrilled to welcome Stephane Chatonsky as a Principal, leading our Philippines and Indonesia work, and Nina Schuler as Director of LeapFrog Labs, our new technical assistance facility for microinsurance companies. Nina and Labs will be based in Edinburgh, marking an expansion of our Europe office. Paolo De Martin, the eminent CFO of SCOR, joined the LeapFrog Advisory Board.

The fast-unfolding LeapFrog story continues to be covered by media across the globe, including great pieces in Fast Company, and will be featured at The Economist Innovation Summit in March.

Finally, last quarter, we left you with the news that I was asked to speak alongside Bill and Hillary Clinton at the closing plenary of the Clinton Global Initiative annual meeting. Drawing the analogy with ‘Banker to the Poor’ Muhammad Yunus and Grameen Bank, President Clinton hailed LeapFrog as the Insurer to the Poor. Here is a short  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/cgi_video.php> video of the day.

We are often asked: What can I do? You are not a charity, so how can I contribute to LeapFrog’s mission of reaching 25 million vulnerable people with insurance, profitably? What difference can I really make to your work in countries like India, South Africa, Ghana, Kenya, Indonesia and the Philippines? 

The scale of our collective challenge and ambition is humbling. But becoming part of this extraordinary community is easier than you might think. You could spread the word and forward this message to friends and colleagues. We also welcome referrals to microinsurers, insurers, <>  and large distributors, such as large microfinance institutions, retail chains, religious groups, and mobile operators, whose clients could be well served by insurance.

There’s more on these profit-with-purpose stories and opportunities below, and at  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/> www.leapfroginvest.com. We wish you a happy and meaningful year, and look forward to connecting and acting with you in 2010.

In this edition:   

Investment in AllLife, innovative African insurer

Global reinsurer SCOR becomes an investor

Launch of the Global Fellows Program

The global team grows

News, views, events 

President Clinton hails Insurer to the Poor

The search for opport-unities

President & Founder

You have received this newsletter as a friend or colleague of the LeapFrog team, or a co-attendee of leading conferences. To unsubscribe, click <https://www.wmail.com.au/box.php?funcml=unsub2&nl=174&mi=1411&email=phylgeorgiou%40leapfroginvest.com>  here. If you received this email indirectly, click <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.wmail.com.au/leapfrog/signup.html>  here to subscribe.

LeapFrog invests in AllLife, an innovative African insurer

On World AIDS Day, LeapFrog announced an investment of over $6M USD in AllLife. In addition to providing much needed life insurance to people living with HIV and diabetes, AllLife links its insurance products to an adherence management program that helps clients manage their health appropriately, routinely alerting them to potential health concerns and enabling them take action to maintain their well-being.  The company has observed an average 15% improvement in its clients’ health, after taking out an AllLife insurance policy. The Insurance Business Review, HedgeCo and others reported on this landmark investment. 

Read about the AllLife investment and other news at  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/news.php> www.leapfroginvest.com/news.php 

Global reinsurer SCOR becomes an investor

LeapFrog’s distinguished group of global investors now includes SCOR, a leading global reinsurer, which announced an investment in LeapFrog in November: "The Group believes that the microinsurance sector is a market that has the potential to expand very quickly as it represents more than one billion individuals without access to traditional insurance services such as life, health, disability or livestock insurance,” said Paolo De Martin, Chief Financial Officer of SCOR. SCOR's backing signals that the industry is recognizing the commercial appeal of microinsurance, along with LeapFrog’s robust approach to tapping and serving the immense market at the Base of the Pyramid.

To learn more about our investors visit  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/investors.php> www.leapfroginvest.com/investors.php

Recruiting outstanding young leaders

LeapFrog is looking for outstanding and dynamic young leaders to join us as Global Fellows in our Sydney, Johannesburg and Edinburgh offices. Fellows will help LeapFrog to grow the microinsurance sector while working directly with LeapFrog Principals as well as portfolio companies. The deadline for applications is fast approaching. 

To read more about the position and how to apply visit   <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/fellowship.pdf> www.leapfroginvest.com/fellowship.pdf

LeapFrog's global team grows

Stéphane Chatonsky joins LeapFrog as a Principal, located in the Sydney office, bringing over 15 years’ experience in private equity, investment banking and strategy across Europe and Asia Pacific. His career includes posts at Lazard Frères & Co, working on IPOs and privatisations; McKinsey & Co, focused on financial services and telecommunications; Macquarie Bank, managing private equity transactions and development of green-field companies; and Telecom New Zealand, driving Group M&A and Investments. Building on this track record, Stéphane established his own practice, investing with or advising private equity funds, family offices and their portfolio companies on deal sourcing and structuring, due diligence, transaction management, business planning and performance improvement. He led or was centrally involved in over 20 private equity transactions in recent years. Stephane teaches Private Equity, Venture Capital, and Valuation as an adjunct at two leading Australian business schools. He holds an MBA from Wharton.

Nina Schuler joins as the Director of LeapFrog Labs, a technical assistance facility that works with companies and partners to address key challenges in expanding the quality and reach of microinsurance products. She is based in the Edinburgh office. Previously, at the World Bank, Nina advised governments in Uganda, Malawi, Kenya, Tanzania, Zambia, Swaziland and Eritrea on local governance and HIV/AIDS investments. In Indonesia, Nina was seconded by GTZ to help manage an innovative $50million multi-donor trust fund. In Sri Lanka, with the Asia Foundation, Nina engaged government, academic, and business leaders to address key stumbling blocks to local and regional business development. Nina’s roles have also included leading an innovative project to tackle fraud in grantmaking, and serving as an expert on urban poverty, decentralization, HIV/AIDS, and local economic development. Nina, who is both a German and an American national, holds an MSc from the London School of Economics. 

Nina and Labs are located in Edinburgh, marking an expansion of our Europe office. Led by Jim Roth, a pioneer of commercial microinsurance, the Europe office manages relationships with European investors, manages opportunities that come via European headquartered organizations (such as insurers, private equity firms, and brokerage firms) and overseas our investment activities in South Asia.  

Paolo De Martin joins our Advisory Board in his personal capacity, bringing wise counsel after many years as a leader in reinsurance, insurance, and investment. He is currently Group Chief Financial Officer of SCOR Group, a leading global reinsurer with operations in 120 countries and annual premium income of over €6 billion. Previously, he served as CFO of Converium, a Swiss reinsurance firm, following a progressive 11-year career at General Electric that culminated as CFO of GE Frankona Group. He began his career as a member of GE’s reputed internal auditing and consulting group, with assignments in the Americas, Europe, and Asia. Early in his career, he was Managing Partner and Founder of an Italian eyewear manufacturer. He holds a Masters in Business Economics from Ca’ Foscari University, Italy. 

Learn more about our global team at  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/people.php> www.leapfroginvest.com/people.php

See who else is on our advisory board at  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/board.php> www.leapfroginvest.com/board.php

News, views, events

Recent media coverage of the fund’s investment strategy and novel business model has been extraordinary. Fast Company interviewed Andy Kuper under the headline “Microinsurance: The New Microcredit,” identifying the LeapFrog fund as an investment vehicle able to “drive entrepreneurship and facilitate wealth accumulation in developing countries.” MicroCapital also recently interviewed Andy in the inaugural issue of The Microinsurance Times, the first dedicated industry publication. Insurance Day now regularly covers LeapFrog for the industry. We also invite you to tune into the Microinsurance Summit in February and the Economist Innovation Summit in March, as people around the world turn to LeapFrog and fellow innovators to learn how to succeed with profit-with-purpose business models and investment.

To read these and many more news articles visit  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/news.php> www.leapfroginvest.com/news.php 

President Bill Clinton hails "Insurer to the Poor"

In the Closing Plenary of the Clinton Global Initiative 2009, former President Bill Clinton and LeapFrog President Andy Kuper spoke to an audience of 1000 global leaders and to thousands watching online. President Clinton drew the direct link with the work of Nobel Laureate Muhammad Yunus to bring microcredit to millions of people, as the ‘Banker to the Poor’, announcing that “LeapFrog is quickly becoming the ‘Insurer to the Poor’. Just like Yunus, [LeapFrog] is the first out of the gate, the first microinsurance fund in the world.” 

Watch the video at http://www.leapfroginvest.com/cgi_video.php <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/cgi_video.php> 

The search for opportunities in key emerging markets

LeapFrog continues to expand its search for investments in microinsurance and related financial services businesses in Africa and Asia. Our focus countries include Kenya, Ghana, South Africa, India, Indonesia and the Philippines. We are interested in businesses that serve, or could serve, market segments that are typically financially excluded such as low-income clients or people with disabilities or pre-existing illnesses. We consider investments in businesses that are risk-bearing such as insurance companies as well as businesses that play a role in the management and distribution of insurance such as third party administrators or microfinance institutions. We are also able to partner with distributors such as retail chains, religious groups, and mobile phone operators. Our typical investments can be between US $5 million and US $10 million, though we can partner with other firms including funds, banks, and insurers on larger investments. All of our portfolio companies will be invested in and monitored on the basis of clear financial and social impact metrics.  

To learn more about our investment approach visit  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/investment.php> www.leapfroginvest.com/investment.php

Thank you!

Our ability to identify and grow profitable businesses to reach millions of people would not exist without the dedication of our partner firms. Today we send special thanks to leading actuarial firm Quindiem and our exceptional legal teams at Akin Gump, Wiley Rein, Eversheds and Cliffe Dekker, who have worked overtime to make our profit-with-purpose vision real and robust. 

To read more about all our partners visit  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=-http--www.leapfroginvest.com/partners.php> www.leapfroginvest.com/partners.php

To our community, all of those who supported the LeapFrog mission and achieved extraordinary results in 2009, we send a heartfelt thank you!

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  <https://www.wmail.com.au/lt/t_go.php?i=1411&e=NTQ5ODky&l=open> 

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