SEADRIF selects Gallagher Re as its reinsurance broker and risk advisor

Global reinsurance broking and advisory firm Gallagher Re has been selected to provide reinsurance broking and risk advisory services to SEADRIF Insurance Company.

According to SEADRIF, this appointment includes the placement of reinsurance in international markets and the provision of strategic advisory services for product improvements and business development.

Ellen Yong, Chief Operating and Financial Officer of SEADRIF, noted that as the sovereign catastrophe risk pool set up to serve the ASEAN + 3 region, (which comprises Southeast Asian countries plus China, Japan, and the Republic of Korea), the firm aim’s to be a centre of excellence for climate and disaster risk finance, “enabling the efficient flow of international expertise, solutions, and capital”.

Yong continued, “SEADRIF works closely with governments to co-create solutions that help them build financial resilience amidst increasing frequency and severity of natural disasters. The optimisation of the first flood risk insurance product for Lao PDR is of utmost importance.

“We value the global experience of Gallagher Re in supporting public and private risk transfer programs and their track record of partnering with regional risk pools.

“Through this partnership, SEADRIF hopes to leverage Gallagher Re’s expertise and achieve its growth ambitions to help strengthen the financial resilience of our member countries.”