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Press Release

Friday, May 22, 2009

OPIC Insurance Conference Draws Dozens of Investors and Industry Leaders

  Among participants in the OPIC Insurance Investor Conference were, from left, OPIC Acting President Dr. Lawrence Spinelli, Anne Marie Thurber, managing director of Zurich Emerging Markets Solutions, Julie Martin, senior vice president at Marsh USA Inc., Kenneth Hansen, partner at Chadbourne & Parke LLP, and Rod Morris, vice president of insurance at OPIC.
Among participants in the OPIC Insurance Investor Conference were, from left, OPIC Acting President Dr. Lawrence Spinelli, Anne Marie Thurber, managing director of Zurich Emerging Markets Solutions, Julie Martin, senior vice president at Marsh USA Inc., Kenneth Hansen, partner at Chadbourne & Parke LLP, and Rod Morris, vice president of insurance at OPIC.

WASHINGTON, D.C. – Nearly 100 leaders of the U.S. private sector – including top investors, bankers, insurance and legal experts – as well as representatives of the federal government, business associations and nonprofit organizations attended a conference organized by the Overseas Private Investment Corporation (OPIC) intended to more closely align investors’ needs with OPIC’s political risk insurance products.

The OPIC Insurance Investor Conference convened high-level discussions about prospects for new OPIC insurance products tailored specifically for sectors such as renewable and alternative energy, finance, nonprofit organizations and schools, small and medium-sized enterprises, and insurance companies themselves. Other discussions focused on investment opportunities in emerging markets that could be realized with the support of OPIC political risk insurance.

“We are extremely pleased by the exceptional turnout for the OPIC Insurance Investor Conference,” said OPIC Acting President Dr. Lawrence Spinelli. “It indicates significant private sector interest in OPIC political risk insurance as a lever for investment in emerging markets, and opens new channels of communication between the agency and the private sector clients we serve.”

Vice President of Insurance Rod Morris said, “This investor conference was an invaluable opportunity for OPIC to hear directly from the private sector its concerns about investing in emerging markets, and for the agency to explore new and more efficient ways to facilitate that investment. We will work diligently to convert the input we received today, particularly about new sectors of investment, into improved OPIC insurance products.”

Among participants in the conference were Citigroup Global Markets Inc., Moody Insurance Worldwide, Stewart Title Guaranty Company, Wachovia Bank, Zurich Emerging Market Solutions; law firms Akin, Gump, Strauss, Hauer & Feld, LLP, Chadbourne & Parke LLP; and KPMG LLP and PricewaterhouseCoopers. Also attending were representatives of the Calvert Foundation, Center for American Progress, Grameen Foundation, Open Society Institute and World Relief, as well as the National Cooperative Business Association and the U.S. State Department


OPIC is the U.S. Government’s development finance institution.  It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy.  Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets catalyzing revenues, jobs and growth opportunities both at home and abroad.  OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

 

Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. To date, OPIC has supported nearly $200 billion of investment in over 4,000 projects, generated $74 billion in U.S. exports and supported more than 275,000 American jobs.