The Asian Development Bank (ADB) has drawn up a plan for implementation of a disaster risk insurance facility for the Central Asia Regional Economic Cooperation (CAREC) countries, for which insurance-linked securities (ILS) would be seen as an important source of reinsurance capacity and it has even mooted issuing them itself.
The member countries to the Central Asia Regional Economic Cooperation (CAREC) are Afghanistan, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, People’s Republic of China (Inner Mongolia Autonomous Region and Xinjiang Uygur Autonomous Region), Tajikistan, Turkmenistan, and Uzbekistan.
None of these are familiar countries to the insurance-linked securities (ILS) market, but the Asian Development Bank (ADB) believes that in establishing a new risk transfer facility for them, it would be wise to look at ILS opportunities to support the build-up of capacity and capital they require.
FULL ORIGINAL PUBLICATION HERE
