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 30,2024June 30,2024June 30,2023June 30,2022June 30,2021
Assets
Cash and Investments (including Derivatives)*2,5152,3102,1101,9771,918
Demand Notes and Other Assets203205244190151
Prepaid Premium565457438382377
Reinsurance recoverable, net513456478476501
Total Assets3,7963,4293,2693,0242,948
Liabilities
Derivative Liabilities*3---2
Unearned Premiums889732704620615
Other Liabilities201107143139109
Reserve for claims (gross)768698716726747
Total Liabilities1,8611,5371,5631,4851,473
Equity
Paid-in Capital366366366366366
Retained Earnings/ Accumulated Comprehensive Income (Loss)1,5691,5251,3401,1731,108
Total Equity1,9351,8921,7061,5391,474
Total Liabilities and Equity3,7963,4293,2693,0242,948
  • Expressed in millions of U.S. dollars.

Gross and Net Exposures
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FY25 YTDFY24
Gross Exposure34569.0031543.00
Net Exposure10839.0010251.00
  • Expressed in millions of U.S. dollars.

Priority Area Development

FY23 FY24 FY25 YTD
No. of Projects374011
Percent of Total No. of Projects93%95%73%

Region Portfolio Composition

ECASSALACEAPMENASARRegional Development Bank
2024 Economic Capital Share24%35%10%5%13%10%2%
2025-Q1 Economic Capital Share23%32%15%5%13%9%3%
2024 Share of Net Exposure22%39%16%5%10%6%1%
2025-Q1 Share of Net Exposure22%37%19%5%10%6%1%

Sector Portfolio Composition

InfrastructureFinancialOil Gas and MiningMASTrade Finance
2024 Economic Capital Share52%22%5%19%2%
2025-Q1 Economic Capital Share49%27%5%18%2%
2024 Share of Net Exposure42%39%4%12%4%
2025-Q1 Share of Net Exposure41%40%4%11%4%

Summary Income Statement
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For the period/fiscal year endedSeptember 30,2024June 30,2024June 30,2023June 30,2022June 30,2021
Income
Net Premium Income36131124116121
Investment Income (Loss)3412570(9)6
Miscellaneous Income20000
Total Income72256194108127
Expenses
(Increase) Decrease in Reserves*(14)(1)12(4)8
Administrative expenses (including Pension Cost)(20)(74)(70)(65)(59)
Translation (Loss) Gain5(2)3(11)5
(Increase) Decrease in Reserves and Total Expenses(28)(76)(55)(81)(46)
Net Income441801392881
  • 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 30,2024June 30,2024June 30,2023June 30,2022June 30,2021
Guarantees Issued3732.008204.006446.004935.005199.00
Portfolio Runoff706.004527.003028.003443.004836.00
  • Expressed in millions of U.S. dollars.

As ofSeptember 30,2024June 30,2024June 30,2023June 30,2022June 30,2021
Gross Exposure34569.0031543.0027867.0024449.0022957.00
Net Exposure10839.0010251.009450.008991.009134.00
Reinsurance as a % of Gross Exposure66.8%65.6%64.6%61.9%59.2%
Administrative Expense to Net Premium Income Ratio51.5%57.0%56.2%55.9%48.4%
Risk Capital to Operating Capital Ratio55.4%54.2%56.8%61.0%61.1%
Concentration Ratio (Five Largest Exposures/Net Exposure)20.5%21.0%20.8%22.0%24.0%
  • Expressed in millions of U.S. dollars.
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