Project Description
The project entails an IFC quasi-equity and equity investment of up to $8.5 million in Paramount Life and General Insurance Company (the company or PLGIC), a composite insurance company in the Philippines. The company provides life and general insurance policies to corporates and individuals in the Philippines. It was established in May 1950, is headquartered in Manila, and has 27 branches in Metro Manila and outer provinces. IFC’s investment, which will be made in different phases, will help this median-sized, non-captive insurance company to make strategic acquisitions, to stimulate and consolidate the industry.