GEORGE TOWN, Grand Cayman – CCRIF-SPC presented its 2024/25 Annual Report titled, Parametric Power: Financing Resilience in a Multi-Hazard Environment,covering the period June 1, 2024, to May 31, 2025. The 2024/25 Annual Report affirms CCRIF’s position as the world’s leading parametric insurance facility and a strategic development insurer for the Caribbean and Central America.
The report highlights that the 2024/25 policy year was another impactful one for the organization, with US$84.5 million in payouts, including US$44 million to the Government of Grenada following hurricane Beryl. The policy year also saw the first-ever activation of the COAST fisheries product and payouts to Grenada’s water and electric utility companies following hurricane Beryl.
These results underscore CCRIF’s core value proposition: quick liquidity within 14 days, sectoral inclusivity, and fiscal stabilisation in the face of escalating climate and systemic risks. The report shows that CCRIF continues to close the protection gap and deliver pre-arranged financing that enables its members to respond quickly following natural disasters and protect lives, livelihoods, and critical infrastructure.
CCRIF remained financially strong, with robust capital and reinsurance arrangements designed to ensure long-term sustainability and continued capacity to meet members’ evolving risk financing needs. This year also saw ongoing enhancements to CCRIF’s catastrophe models, and during the year, a new fluvial flood model was launched along with the finalisation of the Livelihood Protection Policy (LPP) model for microinsurance. The LPP will be piloted in five countries in the 2025/26 policy year – expanding access to climate risk protection for vulnerable households.
Beyond payouts, the report shows how CCRIF advanced its dual mandate of bridging financial protection with broader disaster risk management initiatives and capacity building.
The Technical Assistance Programme supported 395 individuals through scholarships, internships, and training in disaster risk financing, while the small grants and climate attribution research investments reinforced community resilience and regional advocacy. The Ivan+20 initiative served as both a commemoration and a strategic platform for intergenerational learning and policy reflection, reaffirming CCRIF’s ambition to help shape the Caribbean and Central America into climate-resilient regions.
As CCRIF approaches its 20th anniversary, the 2024/25 Annual Report highlights an institution that is financially sustainable, operationally agile, and deeply committed to its members. Strong governance, active member engagement, and expanding partnerships position CCRIF to scale coverage, deepen innovation, and embed parametric insurance within broader climate finance and loss and damage frameworks.
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