News

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.

SEADRIF and the Lao People’s Democratic Republic (Lao PDR) Ministry of Finance held a ceremony to present the US$3 million payout from the Government’s parametric flood insurance policy triggered by damages from Typhoon Yagi.

The Southeast Asia Disaster Risk Insurance Facility (SEADRIF) Council of Members endorsed Dr. Yoshihiro Kawai's appointment as the SEADRIF Initiative Director in late March. SEADRIF is pleased to announce that all necessary governance procedures have been completed, and Dr. Kawai officially assumes the role in early August 2024.

Mr. Heddy Pritasa brings with him 30 years of experience in the insurance industry in Indonesia and the ASEAN region, marked by significant achievements and leadership in various strategic roles.