GREAT LAKES INSURANCE SE (FMO-57392)

Regions
  • World
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 17, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Great Lakes Insurance SE
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Feb 9, 2020


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Project Description

FMO funding will support Munich Re "to directly invest in SDGs by participating in FMO transactions." Munich Re a global leader in reinsurance/insurance based in Germany. Great Lakes is a fully owned subsidiary of Munich Re and acts as a specialist provider of insurance services and the preferred facilitator of insurance business.  As the project website states, this funding "helps achieve FMO's ambition of mobilizing commercial parties, maximizing global investment towards SDGs and investing in emerging markets. FMO can provide more capital and investment to its clients and help grow local prosperity in emerging markets."

 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

 

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Contact Information

*No project contact provided at the time of disclosure.*

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism