The Southeast Asia Disaster Risk Insurance Facility (SEADRIF), the Department of Finance of the Republic of the Philippines and Gallagher Re have jointly signed a €2.046 million grant agreement with the InsuResilience Solutions Fund (ISF) to support an innovative sovereign disaster risk financing programme for the Philippines.
The Philippines is one of the world's most disaster-prone countries, experiencing an average of 20 tropical cyclones, while daily seismic activity results in between 5 and 20 recorded earthquakes. These recurring disasters disrupt essential public services, displace communities and generate economic losses. This highlights the urgent need for innovative financial solutions that enable faster recovery and strengthen resilience.
The grant helps advance the collaboration between SEADRIF and the Government of the Philippines, through the Bureau of the Treasury, to strengthen the country's financial resilience through an integrated approach that combines innovative sovereign risk transfer, stronger public risk information and analytics, and enhanced institutional capacity. Together, these investments support the government to better anticipate, finance and respond to disasters while strengthening long-term fiscal resilience. This includes the development of a sovereign insurance solution that will provide rapid, predictable financing following disasters.
Dr. Annette Detken, Head of the InsuResilience Solutions Fund, said:
"The Philippines continues to demonstrate strong leadership in disaster risk finance, and this partnership represents an important next step in strengthening the country's financial resilience.
"By complementing existing indemnity insurance with an innovative index-based solution, we can help ensure that critical public services, such as education and healthcare, continue reaching communities when they are needed most. At ISF, we are proud to support solutions that equip governments with the financial tools to respond more quickly and effectively to climate and disaster risks."
Beyond risk transfer, the programme will strengthen the National Asset Registry System (NARS) by improving public asset data, enhancing risk analytics and expanding the platform's capabilities to better support financial decision-making.
Benedikt Signer, Chief Executive Officer of SEADRIF Insurance Company, said:
"Sovereign disaster risk financing only works when financing, data and institutions evolve together. ISF's support fosters investment in all three, creating stronger foundations for financial resilience in the Philippines while generating knowledge and capabilities that can benefit countries across Southeast Asia.
"Our ambition is to help shape a future where every ASEAN member country has access to the knowledge, partnerships and financial solutions needed to manage disaster risk with confidence.”
The partnership combines national ownership, regional implementation capacity, and international market expertise to deliver a solution tailored to the Philippines' evolving risk landscape.
The programme will also strengthen technical capacity across key government institutions responsible for disaster risk financing and public financial management, embedding financial resilience within national systems.
Sharon P. Almanza, Treasurer of the Philippines, said:
“This grant agreement marks an important milestone in the Philippines' efforts to strengthen disaster risk financing. It reflects the strong partnership between government, development and private sector partners to jointly develop innovative disaster risk financing solutions tailored to the Philippines' evolving risk profile. This will complement existing DRFI initiatives, helping the government access rapid liquidity to respond more effectively and safeguard essential public services.”
About the InsuResilience Solutions Fund
The InsuResilience Solutions Fund (ISF), managed by Frankfurt School of Finance & Management, is a competitive grant facility supporting the development and implementation of innovative Climate and Disaster Risk Finance and Insurance (CDRFI) solutions in developing and emerging economies. Through strategic partnerships, ISF helps expand access to financial protection against climate and disaster risks while strengthening resilience and supporting sustainable development.
Contact Person
Marianna Aguilera
m.aguilera@fs.de
About the Bureau of the Treasury – Government of the Philippines
The Bureau of the Treasury (BTr) is an attached bureau of the Department of Finance. The BTr is responsible for the prudent and proactive management of the financial resources and public funds of the National Government.
Guided by its mission to efficiently and effectively manage the financial resources of the government by maximizing revenues from available funds and minimizing financing costs whenever possible, the BTr performs critical functions in cash and asset management, public debt management, government securities, and fiscal and financial policy support.
For inquiries, please email: feedback@treasury.gov.ph
For more information and updates, please visit: www.treasury.gov.ph
About SEADRIF: Taking the Crisis Out of Disasters
SEADRIF is a regional platform established and owned by ASEAN+3 countries to strengthen disaster and climate resilience through pre-arranged financial protection and advisory support. It provides access to rapid and predictable funding when shocks occur, enabling governments to better manage disaster-related costs.
Through its regulated insurance company set up in Singapore, SEADRIF blends public and private capital to expand access to new forms of development insurance. Working closely with member countries, it co-designs solutions that are fit for purpose and scales them across sectors, geographies, and perils—helping protect people, economies, and futures across Southeast Asia.
For inquiries, please email: contact@seadrifinsurance.com
For more information and updates, please visit: seadrif.org
Follow SEADRIF on LinkedIn.
About Gallagher Re
Gallagher Re is a full-service global reinsurance broking and advisory firm operating across the risk and capital spectrum.
By combining analytics capabilities with reinsurance expertise, strategic advisory services, and transactional excellence, we help clients drive greater value from their businesses, negotiate optimum terms, and achieve their risk transfer objectives. Our global client base includes many of the world's leading insurance and reinsurance carriers, as well as national catastrophe schemes in countries around the world,
Backed by Gallagher, one of the world's largest insurance brokerage, risk management, and benefits consulting organizations, we're more connected to the places our clients do business. Whether operations are global, national, or local, we have the talent, market position, and trusted relationships to build the best solutions possible.
For more information, visit www.gallagherre.com.