Groundbreaking risk transfer mechanism to transform disaster response launched with Guernsey support
The International Federation of Red Cross and Red Crescent Societies (IFRC), in collaboration with global professional services firm Aon, Lloyd’s Disaster Risk Facility and the Centre for Disaster Protection, has announced a pioneering approach to disaster response that will ensure swift and agile support is available when a disaster occurs. The transaction has been completed through a Guernsey SPV which is managed by Aon Insurance Managers, and uses other Guernsey vehicles in its structure. Aon Guernsey MD Paul Sykes hailed the achievement as “Guernsey insurance industry’s finest hour yet, because it will allow the Red Cross, potentially, to reach an additional 6 million vulnerable people each year.