IFC and IFC ALAC FUND Provides $75 million in equity to Guardian Holdings

Microfinance Focus, August 29, 2010: IFC, a member of the World Bank Group, and the IFC African, Latin American and Caribbean (ALAC) Fund are providing $75 million in equity to help Trinidad and Tobago-based Guardian Holdings Limited expand its operations and develop the insurance sector in the Caribbean. This infusion of capital will help the company to expand its insurance services in this underserved market.

The investment includes $56.25 million for IFC’s account and $18.75 million from the IFC ALAC Fund, which is managed by IFC Asset Management Company.

The transaction is part of IFC’s strategy to expand its investment activities in the insurance sector, with the goal of increasing availability of insurance products that address individual needs, such as health insurance, and access to insurance products for smaller businesses, microfinance institutions, and agribusinesses. The effort involves partnering with global and regional insurance companies that are focused on expanding in emerging markets.


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