SEADRIF Insurance Company appoints Gallagher Re as its reinsurance broker and risk advisor

June 6, 2024
2 MINS READ

Gallagher Re, the global reinsurance broking and advisory firm, has been selected to provide reinsurance broking and risk advisory services to the SEADRIF Insurance Company. 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 the SEADRIF Insurance Company, said: “As the sovereign catastrophe risk pool set up to serve the ASEAN + 3 region, we aim to be a center of excellence for climate and disaster risk finance, enabling the efficient flow of international expertise, solutions, and capital to the region. SEADRIF works closely with governments to co-create solutions that help them build financial resilience amidst increasing frequency and severity of natural disasters. The optimization 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.”

*ASEAN+3: ASEAN is the Association of Southeast Asian Nations.  ASEAN+3 comprises Southeast Asian countries plus China, Japan, and the Republic of Korea.

 

About the SEADRIF Insurance Company

The SEADRIF Insurance Company is incorporated in Singapore and licensed as a general insurance company to offer insurance solutions to member countries. It is regulated by the Monetary Authority of Singapore. The SEADRIF Insurance Company closely collaborates with member countries to develop products that help governments better manage the costs when natural disasters hit.

 

About Gallagher Re

Gallagher Re is a leading insurance and reinsurance intermediary and risk management consultancy, offering transactional and advisory services for reinsurance requirements over a wide range of reinsurance products. Gallagher Re supports public-private initiatives, including national catastrophe schemes in many countries around the world.

For more information and updates, please visit: https://seadrif.org/the-seadrif-insurance-company/

Follow SEADRIF Insurance Company on LinkedIn: https://www.linkedin.com/company/seadrif-insurance-company

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