World Bank unit buys stake in Peruvian microinsurer

The International Finance Corporation has become a shareholder in the country’s first microinsurance firm Protecta

The World Bank’s private sector arm, the International Finance Corporation, has taken a 16.5% stake in Protecta, Peru’s first insurer specialising in microinsurance. The company was set up last March by the local ACP financial group. Under the terms of the deal, IFC deal will invest US$1.1mn for the stake.