The London Market Group has launched a report on the role that insurance plays in helping to unlock, promote and facilitate the transition to net zero.

Aimed at parliamentarians and other influencers, this fascinating report highlights the capacity of the London Market to tackle new, complex risks through specialised versions of traditional insurance products, and showcases the market’s scale, expertise and history of innovation.

Sean McGovern, chair of the LMG and CEO of AXA XL, UK and Lloyd’s, commented: “The transition to a net zero world will affect our clients’ business models, product needs and risk characteristics. While people often talk about green finance as the main driver of these projects, insurance is a crucial but often overlooked partner.

“In this report, we break down the challenges faced by investors, developers and other stakeholders across the lifecycle of any such green project to illustrate where and how insurance can be used to alleviate them – from the conception of an idea, securing financing, construction, operations and, where necessary dismantling or re-purposing.

“Insurance isn't merely an occasional player; it is a dedicated partner. These endeavours require consistent and multi-faceted support and, with its vast expertise in managing risks across diverse sectors, the insurance industry is well-positioned to foster confidence in green projects throughout their lifespan”.

No Insurance, No Sustainable Future was written by management consultancy, Oxbow Partners, and draws on interviews with a broad representative group within the London Market – including brokers, syndicates and company market insurers.


See the next issue of CIR Magazine for more on this report.

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