InsuResilience Investment Fund

What InsuResilience Investment Fund does

The InsuResilience Investment Fund is a Luxembourg-domiciled public-private partnership investment vehicle created by KfW Development Bank on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and managed by BlueOrchard Finance Ltd. The fund operates two vehicles: the original InsuResilience Investment Fund (IIF), which combines a Debt Sub-Fund (USD 150 million final close, December 2020) and an Equity Sub-Fund, and the InsuResilience Investment Fund Private Equity II (IIF II, launched September 2022, USD 100 million target reached February 2025). Both vehicles deploy debt and equity capital into microfinance institutions, banks, insurance companies, reinsurers, brokers, and insurtechs across ODA-recipient developing countries to expand access to climate insurance for low-income households and MSMEs exposed to extreme weather. The first fund has executed 14 investments across emerging markets and is credited with protecting 25 million people, with a stated goal of reaching 90-145 million beneficiaries by December 2025; IIF II had invested in seven companies by February 2025, including flood forecasting (Previsico), climate risk modelling (Reask), agri-fintech (TechCoop, Pula), AI-driven digital insurance (Naked), and invoice-based financing with embedded insurance (FinAGG).

The fund's technology thesis is delivered primarily through portfolio companies rather than proprietary in-house systems. Notable technical assets include a LatAm Rainfall Dataset built by the Technical Assistance Facility, Skymet's 6,000+ automatic weather stations network, Previsico's property-level flood forecasting, and Reask's physics-driven catastrophe modelling. BMZ provides EUR 6.5 million in supplementary facilities, namely a EUR 3.5 million Technical Assistance Facility and a EUR 3.0 million Premium Support Facility, to lower product development costs and subsidize end-client premiums during introductory phases. The fund is classified as an Article 9 product under the EU Sustainable Finance Disclosure Regulation, holds LuxFLAG ESG certification, and is a member of the G7 InsuResilience Global Partnership and the 2X Challenge.

The fund's business model is institutional asset management: capital is raised exclusively from qualified investors and institutional clients (including KfW, BII, NDF, and Schroders) under Swiss FinSA and Luxembourg CISA, with revenue derived from management fees, debt interest, equity capital appreciation, and dividends. Distribution is conducted entirely through BlueOrchard's institutional investor network, and the fund is restricted from offering securities to US persons. End-products (climate insurance policies) reach vulnerable populations indirectly through bundled loan-insurance offerings distributed by the portfolio companies themselves, which span agricultural, livestock, property, and parametric insurance across Africa, South and Southeast Asia, Latin America, and the Caucasus.

Name

InsuResilience Investment Fund

Legal name

InsuResilience Investment Fund SA SICAV-RAIF

Website

https://insuresilienceinvestment.fund

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

The InsuResilience Investment Fund is a Luxembourg-domiciled public-private partnership created by KfW on behalf of BMZ and managed by BlueOrchard, deploying debt and equity capital to microfinance institutions, insurers, and insurtechs across developing countries to expand climate insurance access for vulnerable households and MSMEs.

Ownership category

akta.pro rank

Product category

Climate Insurance Development Finance

NAICS

Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Climate Finance Funds & Green Investment Facilities (BPADACAH)

akta.pro secondary industries

Impact Investment & Development Investment Funds (BPADACAO), Guarantee, Insurance & Risk Mitigation Facilities (BPADACAK), Gender Lens / Diversity, Equity & Inclusion (DEI) Funds (FSANAJAM)

Keywords

• Climate insurance fund
• Blended finance investing
• Parametric insurance financing
• Development finance vehicle
• Emerging markets insurance equity

Headquarters

HQ city

Luxembourg

HQ country

Luxembourg

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Private Equity Investment Returns: The fund generates returns through equity investments in insurance companies, insurtechs, and climate technology companies, as well as debt investments in microfinance institutions and financial institutions that distribute climate insurance products. Returns accrue from capital appreciation, dividends, and interest payments across the portfolio.
2. Debt Sub-Fund Lending: The first InsuResilience Investment Fund's Debt Sub-Fund provides loans to financial institutions and aggregators in return for participation in the development and distribution of climate insurance, generating interest income on lending activities.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

InsuResilience Investment Fund is a public-private partnership investment vehicle providing debt and equity financing to microfinance institutions, insurance companies, reinsurance companies, brokers, aggregators, and technology businesses in the climate insurance value chain across ODA-recipient developing countries. It operates two sub-funds — a Debt Sub-Fund (lending to financial institutions) and an Equity Sub-Fund (investing in insurers, brokers, and tech companies) — and is complemented by a Technical Assistance Facility and a Premium Support Facility funded by BMZ.

Product overview

InsuResilience Investment Fund is an investment fund managed by BlueOrchard, created by KfW on behalf of BMZ, focused on improving access to climate insurance in developing countries. The fund operates two main investment vehicles: the original InsuResilience Investment Fund (IIF) combining Debt and Equity Sub-Funds, and the InsuResilience Investment Fund Private Equity II (IIF II) launched in 2022 with a technology-focused approach. Both funds are supported by Technical Assistance Facilities and Premium Support Facilities that provide expertise and temporary subsidies to boost climate insurance adoption. The funds invest in a portfolio of companies across the climate insurance value chain including flood forecasting (Previsico), climate risk modeling (Reask), agri-fintech platforms (TechCoop, Pula), digital insurance (Naked, Igloo), agricultural financing with insurance (FinAGG), and parametric insurance providers (Newe). The overall objective is to reduce vulnerability of micro, small, and medium enterprises and low-income households to extreme weather events.

Differentiator

Problem solved

Functional benefit

Brands

• IIF II: InsuResilience Investment Fund Private Equity II - the second fund vehicle with focus on technology-driven climate insurance solutions
• IIF Debt Sub-Fund
• IIF Equity Sub-Fund
• Technical Assistance Facility
• Premium Support Facility

Products and services

• InsuResilience Investment Fund (IIF) — Debt Sub-Fund Lends to financial institutions and aggregators in ODA-recipient developing countries in return for participation in the development and distribution of climate insurance. The Debt Sub-Fund reached a final close of USD 150 million in December 2020 and made 14 investments across emerging markets, helping to protect 25 million people.
• InsuResilience Investment Fund (IIF) — Equity Sub-Fund Equity component that invests in insurers, reinsurers, brokers and insurance value chain companies actively building the market for climate insurance in developing countries. Notable stakes include 34.3% in Global Parametrics, 26.8% in Skymet, 25.4% in Asia Insurance, 39.25% in Rex Insurance, and 40% in Vanguard Assurance.
• InsuResilience Investment Fund Private Equity II (IIF II) Second fund vehicle providing equity financing to portfolio companies in the climate insurance value chain — insurers, reinsurers, brokers, aggregators, and technology companies. Targets technology-driven approaches to improve affordability and accessibility of climate insurance for underserved communities in emerging markets.
• IIF Technical Assistance Facility (TAF) EUR 3.5 million facility funded by BMZ providing international expertise to launch and boost climate insurance for portfolio companies. Includes feasibility studies, insurance product design, marketing, and distribution support. For IIF II, the facility helps portfolio companies overcome information asymmetries and reduces time-to-market and set-up costs.
• Premium Support Facility EUR 3.0 million facility funded by BMZ providing temporary subsidies to reduce climate insurance premiums paid by end-clients of portfolio companies. Makes insurance policies more affordable, especially in the introductory phase, and increases demand for climate insurance.

Quantifiable outcome

• 25 million people protected from climate change effects (IIF achievement)
• +4 more outcomes

Named customers24 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Swiss Re GroupcoreTechnology or IntegrationSwiss Re Group is a leading wholesale provider of reinsurance and insurance-based risk transfer. Serving clients globally through ~70 offices, Swiss Re provides advisory services, supports business development of the Climate Insurance Fund, and assists in scaling commercially viable climate insurance solutions. The partnership leverages Swiss Re's industry-leading position in climate risk insurance.
• Hannover RecoreTechnology or IntegrationHannover Re is the third-largest reinsurer globally with 100+ subsidiaries and branches. In agricultural insurance, Hannover Re provides expertise through its agronomists and veterinarians, complementing reinsurance support and assisting in implementing new agricultural insurance schemes.
• Munich RecoreTechnology or IntegrationMunich Re is one of the leading insurance and reinsurance groups worldwide with over 43,000 employees. As a pioneer in agriculture insurance and reinsurance and worldwide opinion leader in crop insurance systems, Munich Re supports the fund's aim to improve access to climate-related risk insurance for people in emerging markets, drawing on 40+ years of climate change expertise.
• International Labour Organization (ILO) Impact Insurance FacilityminorStrategic or Co-development PartnerThe IIF collaborates with ILO's Impact Insurance Facility to offer sponsorship to IIF investees, facilitating their participation in the Impact Insurance Academy. IIF also contributes to learning sessions with lessons on climate insurance. The partnership leverages ILO's 10+ years of experience in inclusive insurance innovation.
• CelsiusProcoreTechnology or IntegrationCelsiusPro is the Technical Assistance Facility manager for the first InsuResilience Investment Fund. Founded in 2008, it is a Swiss-based weather and climate change insurance specialist with expertise in structuring and originating tailored index products. It operates a state-of-the-art online platform for risk modeling, pricing, execution, and reporting.
• Insurance Development Forum (IDF)coreStrategic or Co-development PartnerIDF co-leads the Tripartite Initiative with UNDP and BMZ to develop parametric urban flood risk insurance products for Ghana's Greater Accra Metropolitan Area. IDF brings together the insurance industry to increase resilience to climate change in developing countries.
• United Nations Development Programme (UNDP)coreStrategic or Co-development PartnerUNDP, through its Insurance and Risk Finance Facility, co-leads the Tripartite Initiative with IDF and BMZ to develop parametric urban flood insurance products for Greater Accra Metropolitan Area in Ghana, with procurement beginning September 2025 and planned market launch in 2026.

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• BlueOrchard Finance Ltd: BlueOrchard is the investment manager and Technical Assistance Facility manager of InsuResilience Investment Fund; a Schroders-owned impact investment manager deploying capital across emerging and frontier markets via debt, equity, and blended finance vehicles with climate and financial inclusion focus. Directly comparable mandate and structure.
• Acumen Fund: Acumen is a leading impact investment fund deploying patient capital into early-stage companies serving low-income communities across Africa, South Asia, and Latin America. Comparable mission-driven approach to building markets for underserved populations through blended capital.
• LeapFrog Investments: LeapFrog invests in financial services and insurance businesses serving emerging market consumers, with a focus on health, climate, and inclusive financial products. Directly comparable thesis of profitably serving low-income households via insurance and fintech.
• responsAbility Investments AG: Swiss-based impact asset manager investing across private equity, private debt, and structured finance in emerging markets, with focus on financial inclusion, climate, and food. Comparable Zurich-based impact investing platform with EM mandate.

Broad incumbents

• Climate Investment Funds (CIF): CIF is a multilateral climate financing channel administered by the World Bank that pools concessional resources from developed countries to scale climate mitigation and adaptation in developing countries. Comparable climate finance mandate and DFI-backed structure.
• Green Climate Fund: The Green Climate Fund is a UN-backed multilateral fund supporting developing countries' climate adaptation and mitigation projects with a global mandate. Comparable institutional climate finance vehicle, though operating at significantly larger scale.
• Omidyar Network: Omidyar Network is a philanthropic investment firm that invests in companies and funds expanding access to economic opportunity in emerging markets. Comparable impact-first capital allocation across sectors including financial services.
• Triodos Investment Management: Triodos IM manages impact investment funds across emerging markets with focus on financial inclusion, climate and environment, and sustainable food. Comparable European-based sustainable investment manager with broad EM thematic mandates.
• Mirova Natural Capital: Mirova, the Natixis-owned affiliate, manages dedicated natural capital and climate funds investing in nature-based solutions, sustainable land use, and climate adaptation in emerging markets. Comparable climate-themed institutional asset manager.

Others

• Convergence Blended Finance: Convergence is a global blended finance accelerator facilitating connections between public and private capital for emerging market development. Not a direct fund but a closely adjacent ecosystem enabler for blended finance vehicles like InsuResilience.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

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M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about InsuResilience Investment Fund