ESG

The Lloyd’s carrier said the strategy will support profitable growth, attract staff and help meet regulatory requirements.

The project, funded by Agence Française de Développement, was revealed during the G20 Leaders’ Summit in Bali.

The Africa Climate Risk Facility was unveiled at COP27 with aims to underwrite $14bn of cover for 1.4 billion people by 2030.

A first look at a new tool to track regional climate risk data was launched by The Global Resilience Index Initiative – part of the Mark Carney-backed Insurance Development Forum.

The geo-political groups have launched the Global Shield against Climate Risks, a scheme that will deploy financial support for vulnerable countries during cat events including via insurance provisions.

CEO John Neal said a pilot with managing agents is working towards a measurement framework to help syndicates transition underwriting portfolios.

Marsh McLennan is mobilising the insurance industry to support the UN’s Race to Resilience initiative, starting by featuring 17 climate adaptation projects.

The broker warned that more insurers will restrict or drop oil and gas business in the coming years.

Chaucer CEO John Fowle also set out to Insurance Insider the rationale for the carrier’s new ESG scorecard comprising 158 data points.

The transport sector has the largest investment gap, needing an estimated $114tn to build greener infrastructure.

The tool scores (re)insurers’ books on a scale of one to five on how well they serve communities.

London Market Group chair Matthew Moore has set out the aims of a campaign to pro-actively engage with universities and schools to broaden the industry’s talent pool for recruitment.