SANASA Sees Brighter Future in Sri Lanka
CNW Group, 30 March 2009
Four years after the tsunami which destroyed a large part of Sri Lanka, SANASA, the largest network of financial
cooperatives in Sri Lanka, has reported positive results from the Support Project for Reconstruction in Sri Lanka carried out by Développement International Desjardins (DID), a component of Desjardins Group.
Three hundred financial cooperatives in the SANASA network, some of which had been completely destroyed by the tidal wave, were able to count on expertise from DID for support to reorganize their activities. Immediately after the tragedy which left 35,000 dead or missing, 15,000 injured and 500,000 homeless, the Desjardins Group mobilized to provide assistance to Sri Lanka.
In addition to working with the SANASA network, which was already highly active in providing emergency services to victims (food,clothing, medicine) and in reconstruction efforts in Sri Lanka, Desjardins setup a fund of nearly one million dollars to provide assistance to relaunch activities and development in that country.
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Bangladesh Insurance Ordinance to be placed in next parliamentary session
The New Nation, 28 March 2009
Dr. Mashiur Rahman, Economic Affairs Advisor to the Prime Minister said the Insurance Ordinance and Insurance Act would be placed in the next session of Parliament.He was addressing a daylong seminar on Micro-insurance jointly organised by Bangladesh Insurance Association (BIA) and Bangladesh Insurance Academy on March 24 at the Metropolitan Chamber of Commerce and Industry's conference hall in the city's Motijheel area.
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Bharti AXA taps microinsurance outfits to enter rural market
Mydigitalfc.com, 24 March 2009
Bharti AXA Life Insurance is looking to tap the rural market to spur growth even as the conventional urban market stagnates. One of the newest entrants in the insurance sector, the company is also planning to tie up with a couple of micro-insurance agencies to launch micro-insurance products.
Bharti AXA Life is a joint venture between telecom giant Bharti and global financial protection and wealth management firm AXA. The two hold 74 per cent and 26 per cent respectively in the life insurer.
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Pfizer to Study Options for Expanding Access to Healthcare in China
Pharmiweb.com, 23 March 2009
NEW YORK and PARIS (BUSINESS WIRE) Pfizer Inc and PlaNet Finance announced today that they will team up to conduct an in-depth research project on the healthcare needs of the working poor in China. The study will examine the availability and existing sources of medicines, patient purchasing patterns, and the level of access to medical services. The study ultimately aims to help both organizations identify models that may enhance and expand access to medicines and healthcare services for the working poor in China.
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Insurance experts set out vision for climate adaptation scheme
Business Green.com, 17 March 2009
At last week's climate change conference in Copenhagen, the Munich Climate Insurance Initiative (MCII), a non-profit coalition of insurance firms, NGOs and research bodies, have set out a couple of proposal to world leaders urging them to consider plans for a $5bn (£3.5bn)-a-year global climate change insurance scheme that would provide developing countries with cover against the increased risk of climate change-related droughts and extreme weather events.
Under the proposals, rich countries would use part of the funds they have pledged to help developing nations adapt to climate change to provide them with insurance cover against extreme weather events such as typhoons and floods.
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International Finance Corporation (IFC) acquires 16.5% stake in Peruvian Microinsurer Protecta
Microcapital, 17 March 2009
International Finance Corporation (IFC) acquired a 16.5% stake in Peruvian life insurer Protecta, a microinsurance company. In February 2009, Protecta sold 3.17 million new shares to IFC at one sol each for a total of PEN 3.17 million (USD $1million). IFC stated in its official press release that the deal was made in order to help expand Protecta’s capital base and extend its insurance services to lower-income households and smaller businesses.
Protecta, which launched operations in February 2008, is a specialized micro-insurance company in Peru. It offers insurance coverage starting from PEN 2.5 (US$0.8) a month to low income clients. The insurer recorded PEN 11.4 million (USD 3.59 million) in written premiums in 2008.
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SKS Microfinance may launch IPO in 2010
The Hindu Business Line, 13 March 2009
SKS Microfinance, the largest microfinance institution in the country and the fifth largest globally in terms of client base, is looking at more than doubling its total loan disbursals in 2009-10 to Rs 8,770 crore, from over Rs 4,000 crore disbursed so far in the current fiscal, according to Mr Vikram Akula, Founder and Chairman of the company.
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New website in Spanish on microinsurance
Microseguros.info is a portail for microinsurance related information in Spanish for Latin America.
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