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The Pacific Catastrophe Risk Insurance Company (PCRIC) team was invited by the InsuResilience Global Partnership, to attend a side event at COP27 hosted by the Federal Ministry for Economic Cooperation and Development (BMZ), Germany. The side event was held at the German Pavilion.

While at COP27, the Pacific Catastrophe Risk Insurance Company (PCRIC) CEO Mr. Aholotu Palu had the opportunity to meet with Mr. Mathieu Dubreuil, the Senior Programme Advisor for Climate Risk Insurance for the United Nations World Food Programme (WFP). This meeting was a result of an earlier conversation with WFP held virtually a month ago. 

Strengthening the reach and impact of the world’s risk pools is the key objective of a Memorandum of Understanding between African Risk Capacity Limited (ARC Ltd.), CCRIF SPC (formerly The Caribbean Catastrophe Risk Insurance Facility) and Pacific Catastrophe Risk Insurance Company (PCRIC) signed on the sidelines of COP27 in Sharm el Sheikh, Egypt.

Recently, the Pacific Catastrophe Risk Insurance Company (PCRIC) International Legal Advisor – Secretariat, Dr. Timothy Nielander, presented at the International Bar Association (IBA) annual conference in Miami with around 5,000 lawyers in attendance from across Africa and the world attending with over 200+ working sessions.

The Pacific Catastrophe Risk Insurance Company (PCRIC) CEO Mr. Aholotu Palu was cordially invited to the Cook Islands’ COP27 high-level event at the Moana Blue Pacific Pavilion hosted by the Prime Minister Hon. Mark Brown.

Settling in well at the Sharm El Sheikh International Convention Centre, Egypt, the CEO of the Pacific Catastrophe Risk Insurance Company (PCRIC), Mr. Aholotu Palu’s first official engagement at COP27 was the attendance of a panel discussion guided by the theme, ‘Disaster risk finance for extreme weather in Small Island Developing States: linking anticipatory action, rapid response and debt restructuring.’

Last week, the Pacific Catastrophe Risk Insurance Company (PCRIC) team along with Dr. Simon Young, co-head of the Disaster Risk Finance and Parametrics team in the Climate and Resilience Hub at Willis Towers Watson (WTW), paid a courtesy call to Tonga’s newly appointed Finance Minister, Hon. Tiofilusi Tiueti. Also in attendance was the Deputy CEO of the Ministry, Ms. Saane Lolo.

Last week, at the request of the Pacific Catastrophe Risk Insurance Company (PCRIC) and on behalf of the Kingdom of Tonga, the National Emergency Management Office (NEMO) convened a group of stakeholders to consult regarding the parametric drought insurance product which is being developed by PCRIC with the support of the global risk advisory company, Willis Towers Watson (WTW).