ACCION, long-established provider of financial services to the poor, has taken a US$1.2 million equity share in ParaLife, a Swiss microinsurance holding company that offers financial protection to low-income populations and people with disabilities, mainly in Latin America. ACCION will contribute to ParaLife’s Latin American expansion of its low-cost insurance products into Colombia. The organization has been operating in Mexico since late 2007. ACCION has also announced a $3 million investment in LeapFrog Investments, a $100 million microinsurance investment fund based in Mauritius. The fund, with an expected close in the first quarter of 2009, will build and replicate a sustainable model for developing and marketing microinsurance services to the poor, and will conduct early pilots in Africa and Asia.
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