Mexico City, September 14, 2021. 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.
The IFC – member of the World Bank – is the largest global development organization focused on the private sector in emerging markets. The IFC works in over 100 countries, leveraging its capital, experience and influence to create markets and opportunities in developing countries. During fiscal year 2020, the IFC invested USD 22 billion in private companies and financial institutions in developing markets, leveraging on the power of the private sector to end extreme poverty and promote shared prosperity. For more information, visit www.ifc.org
About Australis Partners
Australis Partners (Advisers), LLC is an independent investment firm that manages private equity funds with a focus on the Pacific Alliance countries of Mexico, Colombia, Peru and Chile. For more information, visit www.australispartners.com
Sekura has over 60 years of experience providing insurance, surety and affinity programs brokerage services and solutions. Sekura has operations throughout Mexico and services over 600 corporate clients as well as over 2 million individuals every year. For more information visit: www.sekura.mx