The InsureResilience Fund, a German government-backed investment vehicle managed by BlueOrchard Finance, has acquired a stake in a Lagos-based insurance company. The deal gives the fund a 39.25% stake in Royal Exchange General Insurance, one of Nigeria’s largest non-life insurers. The financial terms of the deal have not been disclosed.
Royal Exchange General Insurance provides agricultural insurance to Nigeria’s farmers and plans to use the fresh capital from the investment broaden its coverage options for low-income farmers. By increasing its risk capital and supporting its underwriting capacity in the agricultural sector, the company aims to reach out to more than 1 million farmers by 2025.
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