The SEADRIF Insurance Company was incorporated in Singapore in April 2019 as a licensed insurance company under the Singapore Insurance Act. The Insurance Company is fully owned by SEADRIF member countries through Intertrust acting as Trustee of the SEADRIF Trust and regulated by the Monetary Authority of Singapore. It is governed by a Board of Directors comprising three professionals with decades of experience in the insurance industry.
Catastrophe Risk Insurance Product
As its first product, the Insurance Company launched a regional catastrophe risk insurance product – the first regional product in Asia – that provides cover against flood risks in Lao PDR. This can be expanded to additional countries in the future.
Learn more about SEADRIF and how it works in our FAQs
The SEADRIF Insurance Company is governed by a Board selected and appointed by members of the SEADRIF Sub-Trust A.
Mr. Yoshihiro Kawai
Non-Executive Director and Chair of the Board
Chair of the OECD Insurance and Private Pension Committee; Chair of the Global Asia Insurance Partnership (GAIP)
Mr. Kawai brings a wealth of both industry and policy experience to SEADRIF. After starting his career in the insurance industry and the government of Japan, he spent two decades leading high level international policy and spearheading insurance regulatory developments at the International Association of Insurance Supervisors (IAIS).
Mr. Kawai currently also serves as Chair of the OECD Insurance and Private Pension Committee; Chair of the Global Asia Insurance Partnership (GAIP); Advisor to the Commissioner, Japan Financial Services Agency (FSA); and Member of the International Advisory Council, China Banking and Insurance Regulatory Commission (CBIRC). He is also Adjunct Professor at the Graduate School of Management, Kyoto University and Visiting Professor at the Graduate School of Public Policy, Tokyo University.
Mr. Lawrence Bird
Executive Director, Board Member, and Chief Executive
Asia Pacific Captive and Insurance Management, Willis Towers Watson Management
Lawrence has 35 years of experience in the insurance industry including 23 years of captive and insurance company management. He spent most of his career at Marsh & McLennan before joining Willis Towers Watson as the Director of its Asia Pacific insurance management practice.
Lawrence was responsible for all aspects of the Bermuda operation managing captives, commercial general and life (re)insurance companies, ILS and cat bond entities, as the Head of Bermuda office for Marsh & McLennan. The business covered c. 250 entities.
Lawrence is a Fellow of the Chartered Insurance Institute (FCII) and a Certified Member of the Institute of Risk Management (CMIRM).
Company Management
The management of the Insurance Company and its functions are outsourced to competitively selected professional service providers in Singapore. Third party service providers include the insurance manager, asset manager, reinsurance broker, and calculation agent. The Insurance Company conducts its operations in line with its constitution and the SEADRIF Operations Manual adopted by member countries.
