CCRIF SPC explores forming regional reinsurance facility under 2030 strategic plan

CCRIF targets May 2027 for go/no-go decision on facility, with aim to launch by 2030 if given the green light Aim to increase total coverage limits by at least 10% per year Livelihood Protection Policy eyes 40,000 policyholders by 2030 CCRIF aims to develop at least one new parametric product per year By Rebecca Delaney Oct 13 (The Insurer) — CCRIF SPC, the regional risk pool for the Caribbean and Central America, is mulling the formation of a regional reinsurance facility as part of its newly published revised strategic plan through to 2030. Implementation of CCRIF's latest strategic plan has been advanced by new chair Saundra Bailey, who assumed the role in June. It is based on five strategic objectives and flagship initiatives, with the potential regional reinsurance facility falling under the strategic objective to scale access and close the protection gap. CCRIF said the regional reinsurance facility advances its mandate to expand access and support underserved sectors while safeguarding long-term financial sustainability. The facility would be designed to complement, not compete with, private reinsurers by providing capacity where markets are limited or absent. CCRIF said it