Guy Carpenter & Co. LLC has been awarded a grant by the Microinsurance Innovation Facility to develop a reinsurance facility for microinsurance and microfinance company operations (MFIs). The Facility, a partnership between the International Labour Organization and the Bill & Melinda Gates Foundation, promotes insurance coverage in developing countries for low-income people who otherwise would not have access to commercial coverage.

With this grant, Guy Carpenter will create the infrastructure for a multiline microreinsurance risk-pooling facility to provide risk transfer solutions for MFIs. This will enable them to access the global commercial risk and reinsurance marketplace and to obtain cost-effective, efficient coverage that would be difficult for them to obtain independently on the open market.

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