Swiss impact investment manager BlueOrchard Finance has secured $100 million in commitments for its second climate insurance vehicle, it said in a statement on February 11.
The InsuResilience Investment Fund II offers growth capital, as well as technical assistance and other support facilities, to provide climate insurance solutions to underserved communities in Asia and Africa.
Limited partners in the fund include British International Investment (BII), the Nordic Development Fund; German development bank KfW; and Schroders, the majority owner of BlueOrchard.
The fund is about 60% deployed and into seven businesses across the insurance and climate mitigation industry.
Investments include FinAGG, a company that integrates flood insurance into loans for micro-enterprises in India. Other portfolio companies include Singapore-based insurtech startup Igloo; and Newe, a crop insurance company in Brazil.
With increasingly severe weather events wreaking havoc globally, climate insurance claims are set to climb while the gap between the insured and unprotected widens.
Insurers reportedly paid out $140 billion in natural disaster-related claims in 2024—the third-most expensive year for the industry in the last four decades. Weather catastrophes were responsible for 93% of overall losses, according to Munich RE. Globally, the insurance protection gap for natural catastrophes is estimated to stand at 60%, according to insurance broker and risk consultancy WTW (Willis Towers Watson).
Founded in 2001, BlueOrchard has invested over $11 billion across more than 100 countries. Its other Asian portfolio companies include Indian electric vehicle charging startup CHARGE+ZONE, non-banking finance company Dvara KGFS, and Vietnamese lender Nam A Bank.
