Articles
April 7, 2024
There is growing interest from the world’s more developed countries to subsidise premiums for developing nations that wish to insure themselves against natural disasters, said Pacific Catastrophe Risk Insurance Company (PCRIC) chief executive officer Aholotu Palu. PCRIC, a company collectively owned by Pacific island countries that are members of the PCRIC council, which includes Fiji, was up in 2016 and now helps its member countries to insure themselves against natural disasters on a collective level.
April 7, 2024
Mr. Aholotu Palu, the CEO of PCRIC will lead a PCRIC delegation comprised of Risk Manager (Ms. Daphney Stone), Actuarial Specialist (Mr. Richard Poulter), and Premium Strategist (Mr. Charles Owen) to the first Climate Risk Finance Forum (CRFF) hosted by the Frankfurt School of Finance & Management and the Global Shield Solutions Platform (GSSP) in Frankfurt, Germany from 11th to 13th April.
March 27, 2024
PCRIC was invited by Tonga’s Ministry of Finance to participate in their annual development partners forum with the theme, "Effective Development Cooperation for a Progressive Tonga". This significant event provided an opportunity for participants to gain deeper insights into the state of Tonga’s economy, the prevalent challenges, and the strategic pathways for future development.
March 27, 2024
The Pacific Catastrophe Risk Insurance Company (PCRIC) and the United Nations World Food Programme (WFP), have signed a Memorandum of Understanding (MoU), marking a major advancement in disaster risk financing initiatives for the Pacific region. The MoU was signed by PCRIC's CEO, Aholotu Palu, and the WFP Deputy Executive Director and Chief Operating Officer, Carl Skau.
March 13, 2024
Last week, the PCRIC CEO, Mr. Aholotu Palu, was invited as a chief guest speaker at the Commonwealth Secretariat Regional Debt Workshop held at the Novotel in Nadi. This invitation was a result of the recognition that PCRIC has gained as a key strategic risk transfer mechanism in enhancing financial protection for the Pacific Island Countries’ fiscal shocks caused by natural hazards.
March 11, 2024
Recently, the PCRIC CEO, Mr. Aholotu Palu, participated in a panel discussion at the 10th Inclusive Green Finance Working Group (IGFWG) Meeting organised by the Alliance for Financial Inclusion (AFI) and the Reserve Bank of Fiji (RBF) in Nadi, Fiji.
March 5, 2024
As part of the country visit program, the PCRIC Management Team recently visited Vanuatu where they had the privilege of meeting with the Honorable Ministers of Finance and Climate Change, along with other senior government officials. Discussions included the ways in which PCRIC can contribute to advancing the country’s resilience-building agenda by providing access to pre-arranged financial instruments for protection against natural disasters.
February 29, 2024
Following the recent inaugural Pacific Region Disaster Risk Finance Workshop held earlier this month in Fiji, representatives from Nauru attended, paving the way for a subsequent visit by a mission team from PCRIC to the island nation.
February 18, 2024
Due to PCRIC's ongoing expansion and increasing demand, the team gathered for a two-day retreat at the Tanoa Plaza Hotel in Suva, Fiji to chart the company's trajectory. This marked the team's first face-to-face meeting since transitioning to virtual interactions.