CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is a registered legal entity domiciled in the Cayman Islands, which operates as a risk pooling facility, owned principally by Caribbean governments. CCRF SPC offers parametric insurance designed to limit the financial impact of catastrophic tropical cyclones, earthquakes and excess rainfall events on Caribbean and Central American governments by quickly providing short-term liquidity when a policy is triggered.
CCRIF now invites international reinsurance broking firms to express their interest in providing Placing Broker services to CCRIF SPC.
The principal responsibilities of the Placing Broker include implementation and administration of reinsurance and other risk transfer mechanisms. The Placing Broker also is responsible for obtaining the best reinsurance pricing and terms and conditions – in accordance with best reinsurance market practices – for the Facility on behalf of its constituent Segregated Portfolios. The Placing Broker will be responsible for all aspects of risk transfer to the traditional reinsurance market and/or alternative risk transfer markets.
Interested firms must provide information indicating that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, general qualifications and number of key staff, and so forth). The information package must include evidence of licenses to place reinsurance and capital markets risk transfer instruments in all global markets.
Interested firms are required to declare conflicts of interest.
Interested firms may obtain the terms of reference below:
Expressions of interest must be submitted via email to:
procurement@ccrif.org
before 5pm Cayman Time on 4 August 2022.
Email receipts will be issued for all submissions meeting the deadline.
