Artio has launched a data-driven early-stage carbon credit delivery insurance product, backed by Tokio Marine HCC International (TMHCCI), Markel, and Apollo and with DA Strategy support.
With insurance capacity provided by the trio of major insurers, Artio’s new product aims to help investors to confidently back early-stage carbon removal projects by providing risk mitigation from day one.
The increased security measures are intended to drive market expansion and increase the availability of high-integrity carbon-dioxide removal (CDR) carbon credits, which are essential for corporations and governments to achieve their 2030 climate goals.
Ibrahim Sarwar, Artio Co-Founder & COO, said: “Our capacity partners have shown they share our vision in helping scale the carbon markets and corporations reach net-zero. To achieve this early stage coverage is critical and we need fit-for-purpose datasets built with specialist knowledge to deliver insurance products that truly fit buyer needs.”
TMHCCI, part of Tokio Marine HCC, is a global specialty insurer with expertise in over 100 classes of insurance in over 180 countries. As a member of Tokio Marine Group, the firm has over 25 years of experience as a leading insurer of renewable energy projects, supporting the green transition.
Markel is a global specialty insurer with extensive expertise, operating within Markel Group Inc.
Apollo continues its focus on innovative risk solutions in the Lloyd’s market, aligning with the demand for data-driven insurance in carbon markets.
TMHCCI, Markel & Apollo collaboration with Artio aims to boost confidence in environmental markets and drive investment towards high-integrity climate solutions.
Ben Kinder, CUO – Marine, Energy and Renewables at TMHCCI, stated: “At Tokio Marine HCC and across the Tokio Marine Group, we recognise the critical role of insurance in the climate transition.
“We’re proud to collaborate with innovative companies like Artio, whose unique science-based modelling sets a new standard for delivering better products to buyers.”
Bryan Dressler, Director – Head of Warranty & Indemnity at Markel, commented: “We’re thrilled to be a founding capacity provider to Artio, as the carbon insurance space continues to expand and attract significant interest within the broader carbon market.
“Artio’s innovative product will be a key enabler in helping corporate buyers to achieve their net-zero targets. We’re eager to work closely with the Artio team to facilitate the opportunity in this growing market.”
DA Strategy and Gallagher Re’s Green Solutions team, with market presence established through Lloyd’s Lab Cohort 13, have been leading Artio’s capacity discussions.
