The Lloyd’s Market Association in partnership with KPMG has published a report entitled, ‘Underwriting the Transition’ which highlights the insurance market’s role in providing cover for evolving risks as we transition to a low-carbon economy.

Paul Davenport, finance and risk director at the LMA, said: “As the leading global marketplace for complex and specialty insurance, Lloyd’s is a centre of deep expertise, product innovation and capital. The 55 managing agents who are members of the LMA are already playing a pivotal role in supporting key sectors as they transition, but to maintain this leadership, they need clear insight into the strategic, operational, regulatory and financial risks that must be managed.”

Roger Jackson, global insurance ESG lead at KPMG, led the team doing the research. He said: “Now, more than ever, insurance is needed to support the transition to a low-carbon economy. This report seeks to provide a common viewpoint across the transition sectors that are also key to Lloyd’s underwriters.”