81 1 0TH ANN I VERSARY : H I GHL I GHTS FROM THE PAST 1 0 YEARS $1 SPENT ON EARLY INTERVENTION FROM ARC SAVES $2 SPENT AFTER A CRISIS WE ARE AN ACTIVE MEMBER OF THE UN PRINCIPLES FOR SUSTAINABLE INSURANCE Pooling resources In 2022, in a significant development, we signed a memorandum of understanding at COP with the three other global risk pools – the Pacific Catastrophe Risk Insurance Company (PCRIC), the Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC) including Central America, and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF). The formalisation of this partnership combines the expertise, resources, influence, and impact of all our organisations. The next 10 years These highlights demonstrate the significant progress and impact of ARC Ltd. since our establishment, and our ongoing efforts to enhance our services and support for African countries in building climate resilience and managing disaster risks. Our insurance mechanism works, saves lives, protects economies and secures development gains. Having begun as a concept, we are now a premier financial institution in Africa. Our success is celebrated not as a single organisation, however, but as the ARC Group, and we commend ARC Agency for its impact on the continent in building climate resilience. Through its capacity building work with governments, ARC Agency helps them anticipate, prepare, and respond better to extreme weather events and health crises. The growth of our risk pool has also contributed significantly to our success and the expansion of our coverage in Africa. The next 10 years will be focused on scaling up and making ARC Ltd. relevant to the aspirations of all Africans, particularly those whose lives and livelihoods are vulnerable to climate change. Important to avoid is a multiplication of competing initiatives; instead, there should be a doubling down on ARC Ltd., a proven solution for the continent. Our deepest thanks go to our stakeholders for their support, commitment, and trust over the last decade. We look forward to continuing to work with you for the next 10 years and beyond to make a meaningful difference in the fight against climate change.
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