Financial Results

MIGA

Source Data
The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfils this mandate by offering political risk insurance and credit enhancement products to investors and lenders.

Condensed Balance Sheets
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As ofSeptember 30,2025June 30,2025June 30,2024June 30,2023June 30,2022
Assets
Cash and Investments (including Derivatives)*2,5712,5182,3102,1101,977
Demand Notes and Other Assets254249205244190
Prepaid Premium520545457438382
Reinsurance recoverable, net426418456478476
Total Assets3,7713,7313,4283,2703,025
Liabilities
Derivative Liabilities*610---
Unearned Premiums824865732704620
Other Liabilities144119107143139
Reserve for claims (gross)651635698716726
Total Liabilities1,6241,6291,5371,5631,485
Equity
Paid-in Capital366366366366366
Retained Earnings/ Accumulated Comprehensive Income (Loss)1,7801,7351,5251,3401,173
Total Equity2,1472,1021,8911,7061,539
Total Liabilities and Equity3,7713,7313,4283,2693,024
  • Expressed in millions of U.S. dollars.
  • Totals may not add up due to rounding.

Gross and Net Exposures
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Expressed in millions of U.S. dollars
FY26 YTDFY25
Gross Exposure36,77936,804
Net Exposure11,15211,216
  • Expressed in millions of U.S. dollars.

Priority Area Development

Expressed in millions of U.S. dollars
FY24 FY25 FY26 YTD
No. of Projects40447
Percent of Total No. of Projects95%75%43%

Region Portfolio Composition

Expressed in millions of U.S. dollars
ECASSALACEAPMENASARRegional Development Bank
2025 Economic Capital Share20%34%14%4%13%9%6%
2026-Q1 Economic Capital Share19%36%13%4%13%8%6%
2025 Share of Net Exposure23%35%19%4%10%6%3%
2026-Q1 Share of Net Exposure23%35%19%4%10%5%3%

Sector Portfolio Composition

Expressed in millions of U.S. dollars
InfrastructureFinancialOil Gas and MiningMASTrade Finance
2025 Economic Capital Share47%29%4%17%4%
2026-Q1 Economic Capital Share48%27%3%16%4%
2025 Share of Net Exposure39%43%2%10%5%
2026-Q1 Share of Net Exposure39%43%2%10%5%

Summary Income Statement
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For the period/fiscal year endedSeptember 30,2025June 30,2025June 30,2024June 30,2023June 30,2022
Income
Net Premium Income37146131124116
Investment Income (Loss)3410412570(9)
Miscellaneous Income27000
Total Income73257256194108
Expenses
(Increase) Decrease in Reserves*(7)(6)(1)12(4)
Administrative expenses (including Pension Cost)(21)(93)(74)(70)(65)
Translation (Loss) Gain010(2)3(11)
(Increase) Decrease in Reserves and Total Expenses(27)(89)(76)(55)(81)
Net Income4616818013928
  • Expressed in millions of U.S. dollars.
  • Totals may not add up due to rounding.

Performance Indicators
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For the period/fiscal year endedSeptember 30,2025June 30,2025June 30,2024June 30,2023June 30,2022
Guarantees Issued1,2999,4638,2046,4464,935
Portfolio Runoff1,3244,2024,5273,0283,443
  • Expressed in millions of U.S. dollars.

As ofSeptember 30,2025June 30,2025June 30,2024June 30,2023June 30,2022
Gross Exposure36,77936,80431,54327,86724,449
Net Exposure11,15211,21610,2519,4508,991
Reinsurance as a % of Gross Exposure67.9%67.7%65.6%64.6%61.9%
Administrative Expense to Net Premium Income Ratio57.9%60.0%57.0%56.2%55.9%
Risk Capital to Operating Capital Ratio51.5%52.8%54.2%56.8%61.0%
Concentration Ratio (Five Largest Exposures/Net Exposure)23.0%22.7%21.0%20.8%22.0%
  • Expressed in millions of U.S. dollars.
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