The Insurance Development Forum (IDF) has appointed Alexander De Croo, Administrator of the United Nations Development Program (UNDP), and Tsutomu Yamamoto, Managing Director of the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA), as Public Sector Co-Chairs of the Steering Committee.
De Croo and Yamamoto succeed Achim Steiner and Hiroshi Matano respectively. In their new roles, they will help lead the IDF’s continued development as it enters its second decade.
De Croo will become UNDP Administrator in December 2025. During this time, he led UNDP’s work in more than 170 countries and territories, supporting countries to end poverty, reduce inequality and build resilience to climate and systemic risks.
Prior to this, he had a distinguished career in national and international leadership, including serving as Prime Minister of Belgium from 2020 to 2024.
Yamamoto takes up the role of Managing Director of MIGA in December 2025, bringing more than 30 years of experience in international banking and finance in developing and developed markets.
Most recently, he served as senior managing executive and head of global transaction banking at Mizuho, ​​a Japanese global financial and investment company, where he helped lead operations in the Americas, Asia and Europe.
Yamamoto’s expertise in cross-border investment, risk mitigation and private sector financing aligns with the IDF’s goals to expand the Forum’s impact, promote broader use of insurance capabilities and build resilience through public-private partnerships.
De Croo said: “As climate risks, protection gaps and systemic vulnerabilities increase, the need for thoughtful, coordinated public-private action continues to grow. The Insurance Development Forum demonstrates the power of partnerships, and UNDP is proud to have contributed over the past decade. Particularly at the country level, bringing governments and the insurance industry together helps transform risk expertise into practical solutions for developing countries and vulnerable communities.
“I look forward to working with IDF members to build this strong foundation, strengthen our collaboration and ensure that the Forum continues to provide clarity, credibility and value in a rapidly changing global context.”
Yamamoto commented: “IDF’s unique value proposition lies in its ability to implement concrete long-term plans through public-private partnerships and collaboration, applying the capabilities of the insurance industry to address development challenges in emerging markets and developing economies.
“This is complex work that requires patience, trust and continued commitment. I am honored to take on this role at a critical time for the IDF, as we look to solidify and deepen the World Bank Group’s engagement and help scale the IDF’s work, ensuring that the gains achieved over the past decade have an even greater impact where they are needed most in the years to come.”
Michel Liès, Chairman of Zurich Insurance Group and Chairman of the IDF Steering Committee, added: “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 help lead the IDF into the next decade of its work. We look forward to their contributions and expanding the Forum’s impact as a truly global public-private partnership that drives economic stability and sustainable development through insurance, helping to build countries of the future.”
“We express our deep gratitude to Achim Steiner and Manoh for the practical collaboration between our teams during their tenure and for their significant strategic contributions to the advancement of the IDF over the past several years.”
