The Hyderabad-Deccan English Daily


MIBL partners LeapFrog Investments


MIBL partners LeapFrog Investments

Mumbai, Sept 20 (IBNS) Mahindra Insurance Brokers Ltd. (MIBL), a leading insurance broker primarily servicing rural and semi-urban India, on Thursday announced a strategic partnership with LeapFrog Investments, the world's largest investor in insurance to under-served consumers.

MIBL, which is a wholly-owned subsidiary of Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance) and a licensed Composite Broker, is currently valued at Rs. 520 crores (approx. US$ 96m).

The investment of Rs. 80.41 crores (approx. US$ 15m), which is subject to necessary regulatory approvals, will be through LeapFrog's subsidiary company, Inclusion Resources Pvt. Ltd., Singapore, for a 15% stake in MIBL.

LeapFrog will also be bringing in its international expertise, including in the areas of product design and distribution.

Anand Mahindra, Chairman, Mahindra Group, said, "This partnership is a perfect alignment between our philosophy of driving positive change and LeapFrog's socially conscious investment strategy. Together we will provide financial services that protect and enable millions of people to secure their future."

Dr. Andrew Kuper, President and Founder of LeapFrog, said, "Mahindra's reach, ethics and ethos make it an ideal partner for us and the MIBL team has an outstanding track record of driving growth, profitability, and social impact."

Bharat Doshi, Chairman, Mahindra Finance, said, "The LeapFrog team's knowledge of distribution and product design sets it apart from other investors and collaborators, and will make a profound difference to our shared mission of industry leadership and social impact."

MIBL is LeapFrog's second investment in the Indian market in the last twelve months, reinforcing its commitment to financial inclusion in South Asia.

LeapFrog's investments currently reach over 8 million people across 6 countries in Africa and Asia, empowering them with financial safety nets and springboards.


2012-09-20






Comments


No comments yet! Be the first one to leave a comment.


Add Comment

Name:
Comment:
Enter the Numbers in the image


Latest Videos:
Minor girl forced into prostitution – Brother in Law, Mother and sister arrested by Falaknuma ACP Osmania University TGVP activists on Hunger strike against Sri Chatanya & Narayana intitutions
Fake Education certificates of Various Universities – 2 arrested by Task force west zone Driver murdered, Copper Stolen from a lorry in Nacharam Police limits

Related Articles:

Australia Post calls for applications for new Community Program ..
KCP Capital to raise Rs. 130 cr from India ..
Tata Opportunities Fund makes investment in Varroc ..
India-UAE meet over investments ..
AP ranks 4th in private sector investment: ASSOCHAM ..
87% private investment in Haryana: ASSOCHAM ..
Kadinada MLA quizzed by CBI over Janani Infra investments ..
Private sector accounts for 65% of investments attracted by West ..
Telangana gets Rs 3.3 Lakh Cr investments: Study ..
Immense scope for various sectors in India: Taiwan ..

MBE releases Summer range of Toys from LeapFrog

My Baby Excels (MBE), a premium toy brand has launched a summer range of toys from LeapFrog. The product range includes Touch Magic-Animal Counting Tr

LeapFrog's most anticipated tablet LeapPad hits Indian Stores

LeapFrog's LeapPad, the winner of the Prestigious "Toy of the Year 2012" and "Lifestyle Toy of the Year" Awards at British Toy Industry Awards is

Singapore Consortium to look into possibilities of investments in A.P

Hyderabad April 27 (Hyderabad Deccan News) : Singapore Consortium to look into possibilities of investments in A.P. called on Sri .Ponnala Laxmaiah,Ho

IGA with Colombia Set to Benefit Singapore Companies: Rikvin

Singapore, Friday, July 19, 2013: Singapore firms are in good stead to include Colombia as part of their emerging markets strategies and tap opportuni

Support My School campaign by Coca-Cola and Plan India touches 200 mark

Hyderabad, July 13 (IBNS):  Beverage major Coca-Cola India, in association with NGO partner Plan India, dedicated the Nallagutta School in Ranigunj,

'Vision 2025' to woo investments in infrastructure

Chennai, July 5: The a€˜Vision 2025' document, to be unveiled by the Tamil Nadu government, will contain clear-cut policies for promoting investme

David Cameron to arrive India today

London, Feb 18 (IBNS): British Prime Minister David Cameron is scheduled to begin his three-day official visit to India on Monday and meet his Indian

Related News

   

Intel Capital invests USD 18 mn in five India..

Tata to gift cancer hospital to Kolkata this ..

   

This page was created in 0.166136026382 seconds