A Look Back and a Look Forward on Risk Pools: Perspectives from Countries Globally
The “A Look Back and a Look Forward on Risk Pools: Perspectives from Countries Globally” session offered a comprehensive overview and discussion of risk pooling mechanisms employed across different regions, with a focus on enhancing DRF and insurance solutions. Naruhiko Sugiura (Ministry of Finance, Japan) opened the session with remarks on the country’s initiatives and support for international DRF efforts, including contributions to SEADRIF and the APEC DRFI-WG. Hang Thu Vu delivered a framing presentation on what risk pooling entails, its value proposition, and an overview of existing risk pools. Harold Lewis (Debt Manager, Ministry of Finance, St. Vincent and the Grenadines) shared his country’s experiences with the Caribbean Catastrophe Risk Insurance Facility. The session also featured a presentation by Tonga on the Pacific Catastrophe Risk Insurance Company’s impact and operational insights in the Pacific islands. Ephod Kachigwada (Principal Disaster Response Officer, Department of Disaster Management Affairs, Malawi), detailed the country’s participation in the Africa Risk Capacity Limited, highlighting the operational successes and ongoing challenges in managing disaster risks through pooled funds. Somxay Keovandy (Director of the Planning and Development Division, Department of State-Owned Enterprises Reform and Insurance, Laos), discussed the approaches that have and haven’t worked in Southeast Asia. The session also featured an interactive exercise where participants reflected on their DRF priorities and the role of risk pools relevant to their regions. The session concluded with reflections led by Olivier Mahul (Practice Manager, Crisis & Disaster Risk Finance Unit, WBG).
“Given all the different risk pools are at different kind of stages, there’s a lot of experience that can be shared across member countries, and this is really fundamentally what this session is about.” — Sumati Rajput, Senior Financial Sector Specialist, World Bank “There are a lot of partners getting involved in this as risk finance from the public and the private side, and we do strongly believe that there are pools with their unique public private partnership setup can have a very strong role to play in this kind of new architecture.” — Olivier Mahul, Practice Manager, Crisis & Disaster Risk Finance Unit, World Bank
The event successfully facilitated an exchange of experiences and insights on risk pools, highlighting the importance of collaboration, sustainable funding, and innovative product development in DRF. Participants left with a deeper understanding of the role of risk pools and actionable strategies to enhance their DRM practices. Organized by: World Bank
