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 ofJune 30,2024June 30,2023June 30,2022June 30,2021June 30,2020
Assets
Cash and Investments (including Derivatives)*2,3102,1101,9771,9181,840
Demand Notes and Other Assets205244190151210
Prepaid Premium457438382377426
Reinsurance recoverable, net456478476501514
Total Assets3,4293,2693,0242,9482,990
Liabilities
Derivative Liabilities*---211
Unearned Premiums732704620615681
Other Liabilities107143139109196
Reserve for claims (gross)698716726747767
Total Liabilities1,5371,5631,4851,4731,655
Equity
Paid-in Capital366366366366366
Retained Earnings/ Accumulated Comprehensive Income (Loss)1,5251,3401,1731,108969
Total Equity1,8921,7061,5391,4741,335
Total Liabilities and Equity3,4293,2693,0242,9482,990
  • Expressed in millions of U.S. dollars.

Gross and Net Exposures
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FY24FY23
Gross Exposure31543.0027867.00
Net Exposure10251.009450.00
  • Expressed in millions of U.S. dollars.

Priority Area Development

FY22 FY23 FY24
No. of Projects543740
Percent of Total No. of Projects85%93%95%

Region Portfolio Composition

ECASSALACEAPMENASARRegional Development Bank
2023 Economic Capital Share24%34%10%6%16%9%1%
2024 Economic Capital Share24%35%10%5%13%10%2%
2023 Share of Net Exposure23%35%18%7%11%6%1%
2024 Share of Net Exposure22%39%16%5%10%6%1%

Sector Portfolio Composition

InfrastructureFinancialOil Gas and MiningMASTrade Finance
2023 Economic Capital Share52%23%6%20%0.1%
2024 Economic Capital Share52%22%5%19%2%
2023 Share of Net Exposure44%39%4%12%0.1%
2024 Share of Net Exposure42%39%4%12%4%

Summary Income Statement
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For the period/fiscal year endedJune 30,2024June 30,2023June 30,2022June 30,2021June 30,2020
Income
Net Premium Income131124116121117
Investment Income (Loss)12570(9)640
Miscellaneous Income00000
Total Income256194108127157
Expenses
(Increase) Decrease in Reserves*(1)12(4)8(37)
Administrative expenses (including Pension Cost)(74)(70)(65)(59)(61)
Translation (Loss) Gain(2)3(11)5(2)
(Increase) Decrease in Reserves and Total Expenses(76)(55)(81)(46)(100)
Net Income180139288157
  • 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 endedJune 30,2024June 30,2023June 30,2022June 30,2021June 30,2020
Guarantees Issued8204.006446.004935.005199.003961.00
Portfolio Runoff4527.003028.003443.004836.004695.00
  • Expressed in millions of U.S. dollars.

As ofJune 30,2024June 30,2023June 30,2022June 30,2021June 30,2020
Gross Exposure31543.0027867.0024449.0022957.0022593.00
Net Exposure10251.009450.008991.009134.009192.00
Reinsurance as a % of Gross Exposure65.6%64.6%61.9%59.2%58.5%
Administrative Expense to Net Premium Income Ratio57.0%56.2%55.9%48.4%52.2%
Risk Capital to Operating Capital Ratio54.2%56.8%61.0%61.1%62.9%
Concentration Ratio (Five Largest Exposures/Net Exposure)21.0%20.8%22.0%24.0%23.9%
  • Expressed in millions of U.S. dollars.
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