The African Risk Capacity Limited (ARC Ltd.), CCRIF SPC (the Catastrophe Risk Insurance Facility of the Caribbean and Central America), the Pacific Catastrophe Risk Insurance Company (PCRIC), and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) signed a landmark joint grant agreement with the Global Shield Solutions Platform (GSSP) for €4.7 million to advance the implementation of their Joint MoU signed in 2022.
The grant agreement, signed on 9 April 2025, represents a significant step forward in strengthening collaboration among the Regional Risk Pools and underscores their shared commitment to strengthening financial resilience and promoting sustainable growth.
Under the agreement, GSSP via its Global Shield Programme for Resilient Risk Pools (GSRRP), will provide funding to support the Regional Risk Pools in implementing their Joint Request for Climate and Disaster Risk Finance and Insurance (CDRFI) Support. The project will:
- Establish a joint Risk Pools solution and learning network
- Set up a global facility for risk data and analytics information sharing and evaluation
- Establish a Risk Pools employee exchange programme
- Increase the 4 Risk Pools’ joint advocacy
Following the signing, a Regional Risk Pools’ CEO Summit was held at the Frankfurt School of Finance & Management, bringing the CEOs and Risk Pool representatives together for exchange and joint planning on the implementation of activities. Strategic discussions were held on the phased development of a dedicated global facility to be jointly implemented by the Regional Risk Pools.
The grant agreement marks a major milestone in further advancing cooperation among the Regional Risk Pools.
