SEADRIF is a regional initiative

SEADRIF takes the crisis out of disaster by developing and implementing financial solutions that arrange funds before a disaster even occurs. Read about who we are.

ASEAN: Stronger together

Acting together, countries can build more efficient financial solutions.

As the first regional risk financing facility in Asia, SEADRIF can count on significant support from donors and international partners.

As a regional platform under the political umbrella of ASEAN+3, it will:
  • serve as a forum for sharing knowledge and good practices.
  • promote shared investments in public goods to support the understanding of risk.
  • sustain political momentum – driving engagement and progress on disaster and climate shock management.

Who owns SEADRIF?

SEADRIF is an ASEAN+3 Initiative in partnership with The World Bank. It is composed of these four tracks:

  1. The SEADRIF Trust: a legal arrangement for SEADRIF open to all ASEAN+3 countries and governed by the Council of Members that will provide overall strategic direction for SEADRIF.
  2. SEADRIF Sub-Trust(s): an arrangement(s) for a sub-group(s) of SEADRIF member countries and development partners to develop and govern specific initiatives.
  3. The SEADRIF Trustee: holds the legal title to the assets of SEADRIF Trust and is the sole shareholder of the SEADRIF Insurance Company.
  4. The SEADRIF Insurance Company: a general insurance company registered in Singapore.

SEADRIF member countries

All ASEAN+3 countries can join SEADRIF and become members. There are no membership fees to join. Currently, the following countries are members:

Cambodia, Indonesia, Japan, Lao PDR, Myanmar, Philippines, Singapore, Viet Nam.

All participating countries sign the SEADRIF Memorandum of Understanding. SEADRIF is an ASEAN+3 initiative in partnership with the World Bank.

SEADRIF Insurance Company

SEADRIF Insurance Company is a general insurance company incorporated and licensed in Singapore.

With financial support from development partners, the SEADRIF Insurance Company provides disaster risk financing and insurance products to participating countries.

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Administrative Partner: The ASEAN Secretariat

The ASEAN Secretariat provides efficient coordination of ASEAN authorities and effective implementation of ASEAN initiatives and projects. As an administrative partner, the ASEAN Secretariat acts as the SEADRIF Secretariat.

Technical Partner: The World Bank Group

The World Bank has supported the SEADRIF initiative since inception, advancing the preparatory work for the region. At the request of member countries it continues to act as the Lead Technical Partner, providing analytical and advisory services, convening services, and financial support to the development and implementation of the initiative. The World Bank is not a member of SEADRIF.

The Joint Statement of The 28th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting

Milan, Italy, 4 May 2025
We are pleased with the progress achieved in advancing DRFI, with the support of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) and multilateral partners including World Bank, the ADB, Asian Development Bank Institute (ADBI), and the Global Asia Insurance Partnership (GAIP). In particular, we welcome the progress made since the implementation of DRF Initiative by Lao PDR and the Philippines in collaboration with SEADRIF. Notably, Lao PDR received an immediate flood insurance payout twice – USD1.5 million in 2023 for severe flooding and USD3 million in 2024, following Typhoon Yagi while the Philippines has initiated the implementation of a workplan focused on the development of parametric insurance for public assets. We also value the capacity building effort undertaken by the Initiative in collaboration with multilateral institutions especially in the areas of agricultural DRF and overall disaster risk resilience. These efforts are critical in enhancing ASEAN+3 members’ risk awareness and deepening their understanding of effective risk management and resilience strategies. Finally, we endorse the concept note that sets out the pillars for the 2026-2028 DRFI Roadmap. We task Deputies to design the Roadmap to help strengthen our region’s disaster resilience and minimize the impact of catastrophic events on our people. We look forward to the adoption of the Roadmap at the Deputies’ meeting by the end of this year, and subsequently at the AFMGM+3 in May 2026.

Download Previous Joint Statements

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View SEADRIF
Annual Report

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The Stakeholder Engagement Plan and The Environmental and Social Commitment Plan

SEADRIF will implement a new phase of World Bank support for core operating functions under the SEADRIF project (Phase 2), starting in July 2025.

As part of the preparation of the new SEADRIF project (Phase 2), a Stakeholder Engagement Plan (SEP) and an Environmental and Social Commitment Plan (ESCP) have been prepared in accordance with the World Bank’s Environmental and Social Framework.

Both documents have been made available for stakeholder consultation prior to finalization.

Comments and suggestions for the draft SEP and ESCP can be provided via info@seadrif.org before 19 June 2025.

Terms of Reference

Please read the ToR for Monitoring & Evaluation Consultant here.

Interested parties please contact info@seadrif.org