Insurance Development Forum appoints UNDP’s Alexander De Croo and World Bank Group’s Tsutomu Yamamoto as Public Sector Co-Chairs of its Steering Committee

The Insurance Development Forum (IDF) is pleased to announce the appointment of Alexander De Croo, Administrator of the United Nations Development Programme (UNDP), and Tsutomu Yamamoto, Managing Director of the Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group, as the new Public Sector Co-Chairs of its Steering Committee.

Alexander De Croo assumed the position of Administrator of the United Nations Development Programme (UNDP) in December 2025, following a distinguished career in national and international leadership, including serving as Prime Minister of Belgium from 2020 to 2024. In his new role, he leads UNDP’s work across more than 170 countries and territories, supporting nations to eradicate poverty, reduce inequality and build resilience to climate and systemic risks. His appointment to the IDF Steering Committee reinforces the central role of development leadership and political stewardship in shaping the future of the Forum.

Tsutomu Yamamoto, who became Managing Director of the Multilateral Investment Guarantee Agency (MIGA) in December 2025, brings more than 30 years of experience in international banking and finance in both developing and advanced markets with Mizuho Bank, a Japanese global financial and investment firm. In his most recent role as Senior Managing Executive Officer and Head of Global Transaction Banking, he helped to lead operations in the Americas, Asia, and Europe. His deep expertise in cross-border investment, risk mitigation, and private sector financing closely aligns with the IDF’s goal to scale the impact of the Forum in driving broader use of insurance capabilities to enable greater resilience, through public-private collaboration.

Alexander De Croo and Tsutomu Yamamoto succeed Achim Steiner and Hiroshi Matano, respectively, in their institutional roles and as Co-Chairs on the IDF Steering Committee. They will play a critical role in leading  the continued evolution of the Forum as it enters its second decade.

Alexander De Croo, Administrator of UNDP and IDF Steering Committee Co-Chair, said: “As climate risk, protection gaps and systemic vulnerabilities intensify, the need for thoughtful, well-coordinated public-private action continues to grow. The Insurance Development Forum has demonstrated the power of partnership, and UNDP is proud to have contributed over the last decade. Especially at country level, bringing governments and the insurance industry together helps turn risk expertise into practical solutions for developing countries and vulnerable communities.

I look forward to building on this strong foundation with IDF members, strengthening our collaboration and ensuring the Forum continues to offer clarity, credibility and value in a rapidly changing global context.”

Tsutomu Yamamoto, Managing Director of MIGA and IDF Steering Committee Co-Chair, commented: “The IDF’s unique value proposition lies in its ability to apply the insurance industry’s capabilities to development challenges in emerging markets and developing economies through concrete, long-term programmes delivered through public-private partnership and collaboration.

This is complex work that requires patience, trust and sustained commitment. I am honoured to take on this role at a pivotal moment for the IDF, as we look to consolidate and deepen the World Bank Group’s engagement, and to help move the IDF’s work to greater scale – ensuring that what has been built over the past decade can deliver even greater impact where it is needed most in the years to come.”

Michel Liès, Chairman of Zurich Insurance Group and Chair of the IDF Steering Committee, said: “We are delighted to welcome Alexander De Croo and Tsutomu Yamamoto as Public Sector Co-Chairs of the IDF Steering Committee. Their leadership, global perspective and deep institutional experience will be instrumental in leading the work of the IDF into the next decade. We count on their contribution to scale the impact of the Forum as a truly global public-private partnership, driving economic stability and sustainable development through insurance, to help build future-ready nations.

We would like to express our deep gratitude to Achim Steiner and Hiroshi Matano for  the practical collaboration they enabled across our teams during their tenure and their significant strategic contributions to the progress of the IDF over the last years.”

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