Opportunity Micro Insurance Agencies Open in Ghana and the Philippines

Feb 2007
Ghana / Philippines, February, 13 2007 - Micro Insurance Agency, an Opportunity International subsidiary, builds and operates insurance companies in developing countries that provide the poor with access to affordable insurance products. The Micro Insurance Agency is the world’s first insurance broker exclusively serving the low-income market with life, health and crop insurance products.

Opportunity International officially opened the doors of its newest Micro Insurance Agency in the Philippines, which will provide life insurance to 1,700,000 microfinance clients and family members by the end of 2007. At an average cost of $1.30 per month per family, the life insurance provides a benefit of $2,400 upon death of the borrower, $1,000 upon death of the spouse and $500 upon death of the child or parent.  Death from any cause is covered.

Micro Insurance Agency Ghana is poised to start operations in March and will initially serve the clients of microfinance institutions, savings and loan companies and rural banks with a range of life, health and crop insurance products.

To date, the Micro Insurance Agency operates subsidiaries in Uganda, Ghana, and the Philippines and will open a Micro Insurance Agency in South Africa before the end of 2007. The Micro Insurance Agency plans to launch operations in a minimum of three new countries per year with initial focus on Africa and Asia.

For more information on Opportunity’s Micro Insurance Agency, please contact Richard Leftley, President, Micro Insurance Agency Holdings, LLC, at richard.leftley@microinsuranceagency.com.

Source : Direct e-mail

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