Allen & Overy has advised Swiss impact investment manager BlueOrchard Finance Ltd (BlueOrchard) on the establishment and closing of the InsuResilience Investment Fund (IIF) – Private Equity Sub-Fund. The sub-fund, which attracted final commitments of USD80 million, is a first-of-its-kind initiative to improve access to climate insurance across the developing world.
IIF is the only G20 Initiative on Climate Risk Insurance investing private capital in private sector companies to increase commercial insurance offerings. Together with its portfolio companies and those in the Debt Sub fund, IIF offers affordable insurance products for micro, small and medium enterprises vulnerable to climate-related risks, as well as technology platforms that enable the development and distribution of these insurance products. The cornerstone investor was KfW, the German Development Bank, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
A&O lead partner, Yannick Arbaut, commented: “We are delighted to have been able to support BlueOrchard on this initiative. The fund is testament to the growing importance of ESG investing – a trend we expect to continue.”
The Allen & Overy team comprised Partner Yannick Arbaut, Associate Céline Baiverlin, and Trainee Victor Pierre, based in Luxembourg.
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