How can re/insurance companies adopt nature-based solutions in the race to resilience?
Earth Security and our partner the Philippine Insurance and Reinsurance Association (PIRA) hosted re/insurance CEOs in the Philippines and the regulator to discuss the pricing of natural assets in underwriting and new products to support clients and communities.
Building on the recommendations of Earth Security’s insurance report, the group defined clear priorities to use natural ecosystems such as mangroves for the development of a more resilient industry, including the formation of an industry working group that will drive collaboration on specific solutions.
The roundtable was attended by 50+ members of the Philippine Insurance and Reinsurance Association (PIRA) including CEOs and Chief Risk Officers.
It was chaired by our CEO Alejandro Litovsky, and included Erickson Balmes, Deputy Commissioner at the Insurance Commission; Denden Tesoro, Head of Underwriting Division at Malayan Insurance Company; Derick Narvacan, Country Head at Starr Insurance Companies Philippines; Allan Santos, CEO at National Reinsurance Corporation of the Philippines (NatRe) and Michael Rellosa, Executive Director at PIRA.