Groundbreaking Joint Grant Agreement Signed as Global Shield Solutions Platform Supports Regional Risk Pools’ Move from Commitment to Implementation

The African Risk Capacity Limited (ARC Ltd.), CCRIF SPC (the Catastrophe Risk Insurance Facility of the Caribbean and Central America), the Pacific Catastrophe Risk Insurance Company (PCRIC), and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) have signed a landmark joint grant agreement with the Global Shield Solutions Platform (GSSP) for €4.7 million to advance the implementation of their Joint MoU signed in 2022. The grant agreement, signed on 9 April 2025, represents a significant step forward in strengthening collaboration among the Regional Risk Pools and underscores their shared commitment to strengthening financial resilience and promoting sustainable growth.

Under the agreement, GSSP via its Global Shield Programme for Resilient Risk Pools (GSRRP) will provide funding to support the Regional Risk Pools in implementing their Joint Request for CDRFI Support. The project aims to establish a joint Risk Pools solution and learning network, set up a global facility for risk data and analytics information sharing and evaluation, establish a Risk Pools employee exchange programme and increase Risk Pools’ joint advocacy.

Following the signing, a Regional Risk Pools’ CEO Summit was held at Frankfurt School of Finance & Management, bringing the CEOs and Risk Pool representatives together for exchange and joint planning on the implementation of activities. Strategic discussions were held on the phased development of a dedicated global facility to be jointly implemented by the Regional Risk Pools.

The grant agreement marks a major milestone in further advancing cooperation among the Regional Risk Pools. In 2023, the GSRRP was launched by GSSP as a single access route to pooled funding providing CDRFI support programmes tailored to the specific needs and circumstances of Regional Risk Pools. A study on Optimisation Options for Risk Ceding and Retention conducted by WTW, and commissioned by GSSP, identified potential support measures to the GSRRP and Regional Risk Pools to optimise their exposure to the private capital / reinsurance markets. Recommendations included investment in strategic technical support and the phased development of a dedicated global facility. These outcomes were reflected in the Joint Request for CDRFI Support, marking a major step forward in turning evidence-based learning into impact.

“This grant represents a pivotal step in turning our shared commitments into practical solutions. It enables ARC Ltd to deepen its impact across Africa while reinforcing the collective strength of the regional risk pools. By working together, we are enhancing countries’ ability to respond swiftly to climate shocks and building long-term financial resilience where it is needed most.”
— Lesley Ndlovu, CEO of ARC Ltd.

“This joint agreement heralds an exciting new beginning in the evolution of CCRIF and other regional risk pools.  It represents a game-changer in how we deliver on our mandate as development insurers. By providing a stronger platform for collaboration, CCRIF will be better positioned to support the Caribbean and Central America in closing the protection gap while enhancing regional resilience to climate risks.” — Isaac Anthony, CEO, CCRIF SPC

“This partnership is a strong affirmation of the Pacific’s place in the global conversation on disaster risk financing. Through this grant, PCRIC can accelerate efforts to build tailored solutions for our region while contributing to a broader ecosystem of knowledge and solidarity among Risk Pools. We may be separated by oceans, but this collaboration shows our shared vision is united – to strengthen resilience and protect the lives and livelihoods of our vulnerable communities.” — Aholotu Palu, CEO of PCRIC

“The joint grant agreement marks a significant milestone in transforming evidence into meaningful action. This will support capacity building for beneficiaries, deployment of tested solutions, and strengthening of Risk Pools’ joint advocacy. Through close collaboration with regional risk pools, SEADRIF will expand its reach across ASEAN, further strengthening collective resilience and advancing sustainable growth.” — Benedikt Signer, Executive Director of SEADRIF Insurance Company.

“At a time when political and fiscal challenges on climate finance are intensifying, this grant agreement provides a timely and necessary response. Regional Risk Pools are a proven, functional model for climate disaster risk financing and the Global Shield Solutions Platform is proud to facilitate their further collaboration and support their mission to enhance financial resilience against climate disasters.” — Dr. Annette Detken, Head of GSSP