ASSA Joins Blue Marble Microinsurance
ASSA Compañía Tenedora, S.A., through its subsidiary, ASSA Capitales, S.A., has joined Blue Marble Microinsurance, a consortium of eight companies collaborating to extend socially impactful, commercially viable insurance protection to the underserved.
Blue Marble was announced at the annual meeting of the World Economic Forum in Davos, Switzerland in January 2015.
It aims to develop risk protection solutions for the broad segment of over 2 billion people around the world facing financial protection gaps. The consortium designs and implements ventures, addressing social issues, such as food security, financial inclusion and the advancement of microentrepreneurs.
By becoming a member of Blue Marble, ASSA joins a consortium comprised of eight leading global and Bermuda-based insurance and reinsurance companies: American International Group, Inc., Aspen Insurance Holdings Limited, Guy Carpenter & Company, LLC together with Marsh & McLennan Companies, Inc., Hamilton Insurance Group, Ltd., Old Mutual Emerging Markets Limited, Transatlantic Holdings Inc., XL Insurance [UK] Holdings Limited, and Zurich Insurance Company Ltd.
Eduardo Fábrega, CEO of ASSA, commented that “because of our market influence in the 6 Central American countries as well as our track record, risk capacity, and our team of over 1,000 employees, we have witnessed first-hand the existing gap between available insurance products and the protection needs of the emerging middle class.”
“We have a strong interest in finding solutions for this segment”, he added, “and as participants in Blue Marble, we will gain access to the incubation and implementation of ventures looking to address this issue.”
“I am delighted that ASSA has joined Blue Marble Microinsurance as our ninth consortium member. ASSA is a highly regarded company whose employees bring deep knowledge and experience that will strengthen our impact throughout Latin America. Eduardo and his team have an exceptional track record, and we are fortunate to work together on advancing our mission of protecting the underserved,”commented Joan Lamm-Tennant [pictured], CEO and Founder of Blue Marble.
