
PCRIC Releases Fourth Annual Report
30 January 2025
PCRIC Welcomes New Finance Team
7 February 2025PCRIC CEO, Mr. Aholotu Palu, and Premium Financing Strategist, Mr. Charles Owen, were honoured to be invited by international development firm, DAI and the Centre for Disaster Protection (CDP) to represent the Company at the senior-level launch event of the ‘High-Level Panel on Closing the Crisis Protection Gap’ held in London, UK. This is a flagship initiative of CDP which is funded by the UK Foreign, Commonwealth & Development Office (FCDO).
Speaking afterwards, the PCRIC CEO said that he was pleased to accept the invitation on behalf of the Company to contribute to the event as it confirmed global recognition of PCRIC’s pivotal role as a provider of pre-arranged financial instruments aimed directly at addressing disaster protection gaps in the Pacific Islands region.
With studies showing that only 2% of global disaster funding is being allocated to pre-arranged financing, discussions emphasised the urgent need for a shift in policies and priorities to ensure greater investment in proactive, rather than reactive, financial solutions. Global climate finance initiatives will need to pivot toward actions and efforts which strengthen such preemptive mechanisms if indeed the gaps in crisis protection are to be closed.
While in London, the PCRIC team also took the opportunity to hold bilateral meetings with UK officials and the CDP to explore strategic collaborations. PCRIC remains grateful for the ongoing partnership and the continued support aimed at building a more resilient and financially secure future for the Pacific Islands region.