The FINANCIAL — The International Finance Corporation (“IFC”), member of the World Bank Group, completed a minority investment in Sekura Controladora SAPI de CV (“Sekura”), one of the leading insurance and surety brokers in Mexico.
The IFC’s investment in Sekura is a co-investment alongside Australis Partners, the private equity firm that acquired a majority stake in Sekura in 2020.
The co-investment represents IFC’s first investment in the insurance brokerage sector and reflects IFC’s interest in increasing insurance penetration for Mexican companies alongside a leading player in the market. IFC’s investment will further strengthen Sekura’s market position under the leadership of Australis Partners and will enable the acceleration of the company’s growth strategy through further consolidation of the Mexican insurance and surety brokerage market.
James Smouse, Global Head of Insurance of the Financial Institutions Group of the IFC, highlighted: “Mexico has the fundamentals to consolidate a dynamic insurance market, but insurance penetration levels remain below those of peer countries in the region. Sekura is a leading insurance broker with an innovative platform that can leverage this investment to increase access to insurance products in Mexico. We are very proud to join Australis Partners in this strategic investment for the industry in the Mexican market”.
Gonzalo Mancera, CEO of Sekura, mentioned: “Having the IFC as a shareholder is without a doubt a remarkable milestone in Sekura’s growth story. The support of this renown organization will allow us to continue strengthening our corporate governance practices with the goal of accelerating sustainable growth.”
Insurance products promote stability and growth. The IFC helps insurance sector players build new markets. In the developing world, many individuals lack access to basic financial services, including insurance products. This scarcity hampers the chances of escaping from poverty, as unforeseen circumstances can have a negative impact on growth. IFC works with its partners all over the world to increase insurance penetration.