Asian Development Bank

The Asian Development Bank (ADB) has approved $24 million of catastrophe triggered contingent disaster financing for Pacific islands the Federated States of Micronesia (FSM), the Marshall Islands, Solomon Islands, and Tonga.

The Asian Development Bank (ADB) has launched a new contingent natural disaster risk financing solution which it has named contingent disaster financing (CDF), as it seeks to deliver rapid paying risk capacity for its members after they experience significant natural catastrophe events.

Disaster risks and costs are on the rise in Asia, a region where under-insurance is still the norm and spending by government’s on contingent sources of disaster risk financing relatively scarce, leading the Asian Development Bank (ADB) to call for more to be done.

The Asian Development Bank (ADB), a financial institution that supports economic growth and cooperation in the Asia-Pacific region, has hired Thomas Kessler, a long-time Swiss Re executive, into a newly created role focused on disaster risk insurance and financing.

The Philippines has long been the focus of disaster risk financing and insurance discussions, given its exposure to typhoons, earthquakes, fires, rainfall, floods and drought, and now the Asian Development Bank (ADB) is examining options for disaster insurance facilities.

The Asian Development Bank (ADB) is supporting the development of a public-private initiative to create the first earthquake insurance pool for the Philippines. The project aims to launch a functioning earthquake insurance involving government, local insurers and the international insurance and reinsurance community by 2015 and the ADB has committed an initial grant of $500,000 […]

A report published last week by the Asian Development Bank (ADB) discusses the need for robust natural disaster risk financing solutions to be employed in the Asia-Pacific region to strengthen its disaster resilience. The report says that natural disaster losses have risen more quickly than Asia-Pacific’s economy has expanded. At the same time insurance penetration […]

Once again the Asian Development Bank (ADB) has renewed calls for catastrophe bonds to play a part in providing risk transfer and financial protection to enable recovery from major natural catastrophes in the Asia-Pacific region. The ADB has been growing increasingly concerned about the impacts a changing climate will have on the region where 7 […]