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Climate challenge will place unprecedented pressure on insurance sector – Howden

By 2024-06-25T08:00:00

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’Insurance is the financial bedrock needed to derisk investments and attract the additional capital necessary to mobilise the climate transition,’ says climate risk chief executive

Broker Howden has warned that insurance premiums for climate resilience and natural catastrophe protection are set to increase by 50% by 2030 as a result of increased annual losses from climate-related events.

This figure could reach as high as £157-197bn ($200-250bn), with an accelerated growth in exposures, climate risk disclosures and governments transferring risk to private markets also having an impact.

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