PCRIC Secures €10m to Support the Resilience-Building Across the Pacific
During the inaugural Climate Risk Finance Forum (CRFF) held in Frankfurt, Germany organised by the Frankfurt School of Finance & Management and the Global Shield Solutions Platform (GSSP), PCRIC CEO Mr. Aholotu Palu, received a €10 million cheque from the GSSP to use as premium subsidies for Pacific Island Countries when they purchase a policy from PCRIC.
On behalf of the Pacific Region, PCRIC wishes to extend heartfelt thanks to the German Federal Ministry for Economic Cooperation and Development (BMZ) for financing the grant, which will without a doubt contribute towards PCRIC’s resilience-building agenda for the region.
In addition to the signing ceremony of the financial grant, the PCRIC CEO played a prominent role in the forum’s panel discussions on sustainable premium financing and the evolution of risk pools into effective development insurers. He shared valuable insights on how to structure terms and conditions that incentivise sustainable financing for climate resilience initiatives, and how premium support can empower risk pools to address critical loss and damage finance needs in their respective regions.
Beyond the panel discussions, the PCRIC technical team also made significant contributions to particular sessions focused on building capacity for a resilient world. They shared best practices and explored strategies for enhancing risk analytics capabilities, on optimising risk management practices, and collaborating on a shared vision for development insurers in the face of climate challenges.
The forum proved to be a valuable platform for PCRIC to connect with global leaders in the field of climate risk finance along with the CEOs and Risk Managers from the other three Regional Risk Pools.
