AM Best

MAY 09, 2022 10:53 AM (EDT)

AM Best Maintains Support of Microinsurance Network’s Efforts to Foster Market Development, Financial Inclusion

 Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159

Jeff Mango
Managing Director, Strategy & Communications
+1 908 439 2200, ext. 5204


MEXICO CITY - MAY 09, 2022 10:53 AM (EDT)
AM Best is sponsoring and presenting in the Microinsurance Network’s upcoming virtual workshop for El Salvador. AM Best has played a key role in prior workshops, which were focused on the insurance markets in Brazil, Mexico, Morocco and the Philippines; each event addressed barriers and possible solutions needed for developing a microinsurance market.

The upcoming virtual workshop on El Salvador is slated for May 12, 2022, and is being done in partnership with the Salvadorian Insurance Association (Asociación Salvadoreña de Empresas de Seguros). AM Best’s Elí Sánchez, associate director, will provide an online presentation during the workshop. AM Best also will participate in future workshops in 2022 focused on India and Peru, as well as a second workshop on the Philippines.

Recent significant steps taken by AM Best in support of the insurance industry’s efforts to foster more sustainable economic and social development were discussed in previous workshops. In those presentations, AM Best’s senior leadership discussed the company’s signing of the United Nations Principles for Sustainable Insurance; the importance of supporting environmental, social and governance factors through its credit rating criteria; and the critical role that microinsurance plays in the overall insurance ecosystem.

“Microinsurance, in the context of financial inclusion, has gained traction in recent years thanks to the work of organizations like the Microinsurance Network,” said Andrea Keenan, executive vice president and chief strategy officer, AM Best. “These efforts are helping to enable greater awareness and understanding with the aim of facilitating meaningful change where needed.”

The Microinsurance Network was established in 2002 by donors, multilateral agencies, non-governmental organizations, private insurance companies and other interested parties. It is the only global multi-stakeholder platform that promotes the development and delivery of effective risk management tools, including insurance services, for underserved people.

For more information about the Microinsurance Network, please visit its website.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.