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The PCRIC CEO, Mr. Aholotu Palu, met with a representative of Hiscox Syndicate at Lloyd's in London. Hiscox Syndicate has been a reinsurer of PCRIC's policies since 2020.

While in London, the Pacific Catastrophe Risk Insurance Company (PCRIC) team met with The World Bank representatives and colleagues of the PCRAFI project to discuss issues of importance to the operation and financial sustainability of the company.

Day 2 of the CEOs and Underwriting Officers risk pool summit saw another session of knowledge and experience interchanged between the sister organisations. During the discussions, the Pacific Catastrophe Risk Insurance Company (PCRIC) CEO Mr. Aholotu Palu also shared some key aspects.

The Pacific Catastrophe Risk Insurance Company (PCRIC) was invited to the Cook Islands High Commission Official Opening earlier this week in Suva. In attendance was the PCRIC Regional Coordinator, Ms. Akosita Drova.

The Pacific Catastrophe Risk Insurance Company (PCRIC) CEO, Mr. Aholotu Palu recently announced that in December 2021, PCRIC received a Christmas gift of €10 million in premium financing from Germany via the World Bank. Further positive news notes that other donor nations are now considering possible additional funding support in the coming days ahead. The accumulation of premium finance support will help to subsidize the cost of PCRIC insurance policies to vulnerable Pacific Island nations.

Last week, the Pacific Catastrophe Risk Insurance Company (PCRIC) and Willis Towers Watson (WTW), co-led a virtual group consultation on PCRIC support for drought challenges in Pacific Island countries. WTW is a leading global advisory for risk solutions with extensive experience in disaster risk finance and the Pacific.