MAA General Assurance Phils Incl
BIO has granted USD 56.000 of technical assistance to MAA General Assurance Phils, a non-life insurance company in the Philippines.
Amount
$ 56,000.00
Type of investment
Subsidy
Beneficiary locations
Investment field
Financial Institutions
Activity
MAA General Assurance Phils Inc. (MAAGAP) is an independent, multichannel non-life insurance company. It is currently the 12th largest non-life insurer in the country.
MAA serves all market segments to cover both retail and companies ranging from micro to corporates. Currently, MAA estimates its micro and SMEs segment to cover around 60% of the gross written premium, while approximately 40% of the portfolio is directed towards corporates.
Technical Assistance
The objective of the technical assistance is to develop and implement MAAGAP's Environmental and Social Management System (ESMS).
Expected impact
A best in class ESMS that includes a manual, policies and documentation aligned with the IFC Performance Standards and the Client Protection Principles, and various insurance related Environmental & Social standards, as well as performant monitoring and audit procedures.
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