News

CCRIF SPC announced that it will make a payout of US$70.8 million to the Government of Jamaica following the passage of Hurricane Melissa. 

The SEADRIF Insurance Company on 1 September 2025, made a payout of US$2 million to the Ministry of Finance of Lao PDR, following reports that 305,196 people were affected by multiple disaster events between 2 May to 4 August 2025.

The pre-eminence of PCRIC as the Pacific Islands region’s key disaster risk insurer has been further reinforced by the recent inclusion of the Federated States of Micronesia (FSM) and the Solomon Islands as new PCRIC Council Members with active policies.

Fresh off the Risk Pools CEO Summit in Frankfurt, PCRIC joined forces with other regional risk pools at the V20 Ministerial Dialogue XIV during the 2025 World Bank-IMF Spring Meetings in Washington, DC. The goal was to strengthen the Pacific Islands’ ability to bounce back from disasters.

As the message of PCRIC’s specialised capacity to offer pre-arranged protection against the financial impact of natural disasters gains traction around the Pacific Islands region, the level of enquiry has risen sharply.

The Pacific Catastrophe Risk Insurance Company (PCRIC), along with regional risk pools; the African Risk Capacity Ltd. (ARC), the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC), and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF Insurance Company), once again co-hosted a joint side event at this year’s COP gathering in Baku, Azerbaijan.