Mahindra Insurance Brokers Ltd. (MIBL) is a licensed composite insurance broker and a wholly-owned subsidiary of Mahindra & Mahindra Financial Services Ltd., focused on rural and semi-urban India. Since inception in 2004, MIBL has serviced over 2.5 million people, the vast majority in rural or semi-urban areas. The company provides insurance solutions that protect assets and loans on tractors and vehicles, supporting household livelihoods. MIBL has achieved extraordinary growth and profitability over the past eight years and is currently valued at approximately US$96m. The strategic partnership with LeapFrog will bring nearly US$15m of capital and international expertise in product design and distribution to expand product offerings and deepen rural reach. Building on Mahindra Finance’s extensive rural footprint, MIBL aims to become India’s leading insurance broker by 2015.

Total raised

$15M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2012