May 2023

At the side event during the 79th UNESCAP Commission Session organized by PIFS and ESCAP, the PCRIC CEO, Mr. Aholotu Palu, highlighted three key areas relevant to the Pacific region in the Loss and Damage conversation: science, policy dimension, and resource availability.

During his chairing of a session at the recent Pacific Conference on Governance in Auckland, New Zealand, the Pacific Catastrophe Risk Insurance Company (PCRIC) CEO, Mr. Aholotu Palu, highlighted the paramount importance of engaging youth participation in regional policy dialogues and empowering them to take leadership roles within their respective communities to combat the profound challenges posed by climate change.

Recently, the Pacific Catastrophe Risk Insurance Company (PCRIC) team held initial discussions with Fiji’s Ministry of Finance technical team to provide a conceptual overview of its cyclone and excess rainfall/flood insurance products. 

The Pacific Catastrophe Risk Insurance Company (PCRIC) has been invited to speak at a side event during the 79th UNESCAP Commission Session based on the theme, “Approaches to Loss and Damage from a Pacific Perspective.”

Recently, a team from the World Bank conducted an Implementation Completion and Results Report (ICR) mission on the PCRAFI project. As part of this mission, a follow-up meeting was held with the PCRIC team to discuss the monitoring and evaluation (M&E) framework and aspects of the company’s financial sustainability.

PCRIC is pleased to announce that two of its team members, Mr. Pankaj Singh (Finance & Planning Manager) and Mr. Richard Poulter (Actuarial Specialist) have successfully completed a seven-week course on the fundamentals of Insurance Linked Securities (ILS), run by Phoenix CRetro Ltd London in partnership with various professional bodies and educational institutions worldwide.

The Pacific Catastrophe Risk Insurance Company (PCRIC) and Willis Towers Watson (WTW) teams conducted a comprehensive presentation on the upcoming drought product to Mr. Patrick Langrin, the Secretary of Finance for the Republic of the Marshall Islands (RMI).

The Pacific Catastrophe Risk Insurance Company (PCRIC) has been invited by the University of the South Pacific Students’ Association (USPSA) to chair a session at the upcoming Pacific Conference on Governance in Auckland, New Zealand. The PCRIC CEO, Mr. Aholotu Palu, will represent the company at the event. 

The Pacific Catastrophe Risk Insurance Foundation (PCRIF) recently held its first Council of Members (CoM) meeting for 2023, which was chaired by Mr. Patrick Langrin, the Secretary of Finance for the Republic of the Marshall Islands.