In addition to acting as a traditional reinsurer since December 2013, over the last 4 years, in the course of implementing the Global Environment Facility Special Climate Change Fund (GEF/SCCF) and Swiss State Secretariat for Economic Affairs (SECO) grants under the Southeast and Central Europe Technical Assistance for Catastrophe Risk Insurance Facility (SEECE TA CRIF) program in Albania, Macedonia and Serbia, Europa Re developed in-depth expertise in managing a complex programs of technical assistance in insurance services in accordance with World Bank procurement and financial management guidelines. In the case of SEECE CRIF, the GEF/SCCF and SECO grants in the amount of USD10 million were used to develop innovative catastrophe insurance products and underlying hazard risk models; procure a web-based automated pricing, underwriting and policy origination platform, as well as a claim management system; and provide regulatory support to local insurance regulators. Both grants were implemented in accordance with the original project implementation schedules and to satisfaction of both donors. In the case of SECO, due to the high quality of project management, at the end of 2015, the donor replenished its initial contribution and extended the grant by 3 more years and included Bosnia and Herzegovina.
Because of the highly specialized insurance and reinsurance expertise it holds, Europa Re was selected to implement one more project for a period of 4 years for GEF/SCCF grant in Kazakhstan until 2019.