PROJECT

Projects

Summary of Investment Information

Project Number

47578

Company Name

MAA GENERAL ASSURANCE PHILIPPINES, INC.

Date SPI Disclosed

Aug 5, 2024

Country

Philippines

Region

East Asia and the Pacific

Projected Board Date

Aug 4, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Oct 25, 2025

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Aug 22, 2023
Signed : Nov 15, 2023
Invested : Apr 23, 2024

Sector

General Insurance (Non-Life)

Project Description

International Finance Corporation (“IFC”) is considering an equity investment of up to US$10 million for an up to 17% effective stake in MAA General Assurance Philippines Inc (“MAAGAP” or the “Company”) together with lead investor Triple P Advisory Pte Limited (“Triple P”, “Lead Investor”) and other development financial institutions (DFIs).

MAAGAP is a non-life insurance company in the Philippines with 2% market share based on gross written premiums (GWP).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation