In brief: AIA backs LeapFrog, reports FT

Hong Kong-based insurer AIA will invest $200 million into funds run by LeapFrog Investments, the Financial Times reported on Tuesday (paywall). The commitment is the insurer’s first foray into impact investing; the FT describes it a sign of growing demand amond Asian investors for impact strategies.

The paper also reports the AIA and LeapFrog will collaborate on “products and services in their shared areas of inerest in financial services, healthcare and climate solutions”.

LeapFrog, which has built a track record investing in emerging markets financial services businesses such as insurers, has a number of long-time investors from the insurance industry. QBE Insurance, Everest Re and Prudential Financial are among the investors in its 2019 fund.