SEADRIF delivers $2m payout to Lao PDR for disaster relief

The policy triggers payouts based on the number of people impacted by disasters.

SEADRIF Insurance Company has paid $2m to the Ministry of Finance of Lao PDR after multiple disasters between 2 May and 4 August, 2025 affected 305,196 people, surpassing the second payout threshold under the country’s sovereign parametric insurance policy.

The policy, issued in May, triggers payouts based on the number of people impacted by disasters, using official data from the Lao PDR National Disaster Management Office (NDMO). 

The payout was made on 1 September, just six business days after the latest data was reported and verified by Gallagher Re, the calculation agent.

Recent disasters, including Tropical Cyclones Wutip and Wipha, flooding, and seasonal monsoon rains, damaged farmland, power grids, schools, roads, bridges, and sanitation facilities.

The funds will support emergency response and recovery efforts under a contingency plan developed by the Ministry of Finance, the World Bank, and SEADRIF to ensure targeted and accountable use of resources.

SEADRIF said it continues to monitor the impacts of Tropical Storms Kajiki and Nongfa and stands ready to process further payouts if additional policy thresholds are met.