Arias, Fábrega & Fábrega acted as counsel to Panamanian-based QBE del Istmo Compañía de Reaseguros, Inc., a leading Latin American reinsurance company, in connection with the International Finance Corporation (IFC) equity investment of up to US$10 million in preferred shares and US$9 million in common shares of QBE del Istmo Compañía de Reaseguros, Inc. This investment is part of a US$30 million joint financing package to be provided by the International Finance Corporation (IFC), the investment arm of the World Bank Group, and the Inter-American Investment Corporation (IIC), to support the company’s strategic regional expansion.

The IFC and IIC investment will help the reinsurance company strengthen its capital base, improve corporate governance standards, and offer new mass market insurance lines such as microinsurance and health insurance. Specially dental insurance for those who do not have access to such coverage- and expand regionally in Brazil, Chile, Costa Rica, Colombia, Honduras, Guatemala, Panama and Peru.

The investment in QBE del Istmo is part of IFC’s broader strategy to create opportunities for growth. Economic growth and sustainable development in Latin America and the Caribbean is hurt by the limited availability of affordable insurance and reinsurance products for individuals and local businesses. IFC works to provide equity and capacity-building services to locally based insurance and reinsurance companies that have a regional focus.

About IFC
A member of the World Bank Group, the IFC is the only international financial institution focused exclusively on the private sector, the engine of sustainable development in emerging markets. Along with IBRD, it is currently seeking a capital increase to strengthen its ability to create opportunity for the poor in developing countries—including by helping extend insurance access in Latin America and the Caribbean.

About QBE del Istmo
QBE del Istmo is a full-line reinsurer with over 30 years in the Latin American market. It operates in more than 20 countries in Latin America and the Caribbean Headquartered in Panama, the Company has reinsurance, insurance, brokerage, and dental service operations throughout Latin America.