2023

The Pacific Catastrophe Risk Insurance Company (PCRIC) is proud to unveil its second Annual Report, highlighting a year filled with incredible achievements and a profound impact in the disaster risk finance (DRF) space. With the theme "Pacific Islands speaking, PCRIC actively listening and responding," the report encapsulates the company's commitment to responding to the concerns of the Pacific region and is dedicated to securing resources to assist countries in premium subsidization. 

The Pacific Catastrophe Risk Insurance Company (PCRIC) participated in the inaugural regular briefing meeting of the Coordination Hub for the Global Shield against Climate Risks. This event brought together various organizations along with the regional risk pools to discuss critical matters.

Last week, the Pacific Catastrophe Risk Insurance Company (PCRIC) Finance & Planning Manager, Mr. Pankaj Singh, was invited to participate as a panelist at the post-budget forum organized by Dialogue Fiji.

The Pacific Catastrophe Risk Insurance Company (PCRIC) is delighted to announce its formal invitation to join the Coordination Hub of the Global Shield against Climate Risks. The Global Shield initiative’s mission is to fortify the global climate and disaster risk finance and insurance (CDRFI) architecture, ensuring enhanced financial protection for vulnerable countries.

Recently, the Pacific Catastrophe Risk Insurance Company (PCRIC) was invited to participate in the Micronesia Subregional Private Sector Climate Finance Workshop as a guest speaker. The event was organized by the Pacific Islands Forum Secretariat and held in Koror, Palau. PCRIC’s Finance & Planning Manager, Mr. Pankaj Singh, represented the company virtually and shared the company’s plans and the potential opportunities in the non-sovereign space.

The Pacific Catastrophe Risk Insurance Company (PCRIC) is delighted to announce its upcoming incorporation into the Global Shield Coordination Hub as reflected in the recently approved governance charter. This significant development is a direct outcome of the endorsement received from the InsuResilience High-Level Consultative Group (HLCG) in May.

The Pacific Catastrophe Risk Insurance Company (PCRIC) CEO, Mr. Aholotu Palu, represented the company at the recent InsuResilience Annual Forum 2023 in Bonn, Germany. In a passionate address, the urgency for collaborative action to address climate change and its devastating impact on the Pacific region was emphasized.

The Pacific Catastrophe Risk Insurance Company (PCRIC) CEO, Mr. Aholotu Palu and Premium Financing Strategist, Mr. Charles Owen, represented the company at the InsuResilience Global Partnership (IGP) Secretariat technical workshop on premium financing in Bonn, Germany.

The Pacific Catastrophe Risk Insurance Company (PCRIC) was invited by the United Nations Climate Change to participate in the second Glasgow Dialogue (GD2) to deliver an intervention highlighting specific and tangible challenges faced by Pacific nations related to new funding mechanisms, with a particular focus drawing on PCRIC's experiences.