June 29, 2005 • Event •
Today, all possibilities must be explored in the fight against poverty. The Institut Thomas More is promoting a new and innovative proposal: what if reinsurance and its mechanisms were a key element towards solid and sustainable economic development for the world’s poorest countries?
Reinsurance can play a vital role in meeting the challenges of development assistance. It can bring together major private and public financial institutes, contribute to economic growth and stimulate local investment in developing countries. More importantly, reinsurance gives the most vulnerable the possibility of being less dependent on direct aid by offering a system of protection against major risks such as natural disasters, pandemics, droughts or typhoons. Reinsurance can allow those most threatened by these risks to help themselves in building lives with a more secure future.
The global challenges facing the current methods and financing of development aid has led many countries – including France, Italy, the United States of America and the United Kingdom – to search for new solutions. The next G8 Summit, to be held in July in the United Kingdom, will undoubtedly be a decisive moment in this debate. Reinsurance can provide a solution.