Oikocredit sells equity stake in Paraguay’s Aseguradora Tajy

Amersfoort, the Netherlands – Social impact investor Oikocredit has sold all of its shares of Aseguradora Tajy Propiedad Cooperativa (Tajy), a pioneering microinsurance provider in Paraguay.

Oikocredit has played an important role in unlocking Tajy’s growth potential since its investment in 2019. Since then, Tajy has demonstrated remarkable resilience in overcoming significant business challenges. These include the Covid-19 pandemic and the La Niña climate phenomenon, which affected the agricultural sector and consequently, the Paraguayan insurance industry over the 2022-2023 season.

Established in 1997, Tajy has pioneered efforts to widen access to insurance products for smallholder farmers and people with low incomes. The company is largely owned by Paraguayan cooperatives and provides a wide range of insurance services, including agricultural, micro-accident, vehicle and life insurance across the country.

Nicolás Arrosa, Oikocredit’s Equity Officer for Latin America and the Caribbean, said, “Oikocredit is proud to have supported and witnessed Aseguradora Tajy’s sustainable growth and ability to deliver value to all stakeholders over the past five years. Our exit is testament to the company’s solid foundation and the sustainable business model it has built. We are confident that Tajy will continue to thrive and make a positive impact on its communities. The exit enables Oikocredit to deploy funds with other organisations so we can continue maximising our social impact and unlocking value for our end beneficiaries.”

Liliana Cardozo, Aseguradora Tajy’s CEO, stated, “Oikocredit's entry as a shareholder in 2019 was a catalyst for the growth of our company. This capital injection gave us greater financial capacity to expand our operations, develop new products and services, and consolidate our market presence. Five years later, the results are more than satisfactory. The return we have generated on the initial investment is proof of our company's solid performance and Oikocredit’s wise decision to trust in Tajy. Thanks to this partnership, we have been able to reaffirm our mission of generating a positive impact in the world.”

Oikocredit’s successful exit underscores the growing importance of impact investing in driving sustainable development and financial inclusion. As Oikocredit looks to future opportunities, it remains committed to investing in ventures that deliver measurable social and environmental benefits alongside financial returns.

About Aseguradora Tajy

Ranked among the top 5 insurance companies in Paraguay with premiums exceeding $30 million dollars and solid financial solvency that allows it to meet its commitments to policyholders in the event of a claim, Aseguradora Tajy remains strong, noble, and flourishing, just like the ‘Tajy,’ the national tree. This path of sustainable development, which we have travelled with strong leadership, is thanks to the clear guidance of our management team and the solidity, efficiency, and commitment of our executive team, focused on corporate governance standards, where continuous improvement and policyholder satisfaction are the keys to success. For more information, visit www.tajy.com.py.

About Oikocredit

Social impact investor and worldwide cooperative Oikocredit has nearly five decades of experience funding organisations active in financial inclusion, agriculture and renewable energy. 

Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably. 

Oikocredit finances more than 520 partners, with total outstanding capital of EUR 1,099.1 million (at 30 June 2024). For more information, visit www.oikocredit.coop.

Note for editors

For more information or to request an interview, please contact: Viviana Cordero, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: vcordero@oikocredit.org.