November 2024

At COP 29, PCRIC CEO Mr. Aholotu Palu met with the Tongan Prime Minister, Honourable Hu'akavameiliku, to discuss PCRIC's latest initiatives and ongoing activities. Mr. Palu also provided an update on PCRIC's successful side event held in collaboration with the Secretariat of the Pacific Regional Environment Programme (SPREP).

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.

PCRIC was invited to participate in a United Kingdom side event during COP 29, themed “Resilient Islands: Tailoring Finance and Enabling Investment.” The event focused on the critical need for customised financial solutions and investment strategies to bolster resilience in small island states facing the impacts of climate change. The UK is one of PCRIC's donor countries.

Attending COP 29 this week, the PCRIC team—led by Board Chair Ms. Sarah-Jane Wild—is looking forward to engaging directly with global partners and stakeholders to advance PCRIC's role as a leader in Pacific Island disaster risk finance.

PCRIC CEO, Mr. Aholotu Palu, was invited to speak at this year’s Small Island Developing States (SIDS) Solutions Forum held in Nadi, Fiji. With the aim of supporting Pacific nations' agrifood systems transformation, the forum was hosted by the Food and Agriculture Organization of the United Nations (FAO) and the United Nations Office for Disaster Risk Reduction (UNDRR).

The Pacific Catastrophe Risk Insurance Company (PCRIC), in collaboration with WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, has today announced the renewal of its portfolio of policies for governments and government-affiliated entities in Pacific Island countries and territories, and associated reinsurance placement.

Led by Risk Manager, Mrs. Daphney Stone, members of the PCRIC team recently traveled to Samoa to participate in key CHOGM side events and reinforce PCRIC's expanding role in the region's DRF ecosystem.

In response to a request from GIZ’s regional office in Suva, PCRIC CEO, Mr. Aholotu Palu, recently met Mr. Raphael Linzatti, Project Director for the Management and Conservation of Blue Carbon ecosystems in Pacific Island Countries (MACBLUE) project.