The intersection of climate risk and real estate insurance is reshaping asset values, financing availability, and fiduciary duty across institutional portfolios. As major insurers withdraw from high-risk markets and forward-looking catastrophe models replace historical underwriting, boards and asset managers face a new class of stranded asset risk. This category covers insurance market dynamics, climate-related coverage gaps, and what the retreat of affordable insurance means for real estate strategy, valuation, and governance.
Ten years ago, Mark Carney, the then Governor of the Bank of England, warned us about the Tragedy of the Horizon. He made clear that changes in the climate brings ‘profound implications’ for insurers, our financial institutions, and the wider economy. But when it comes to insurance, many at the household level are living in […]
A decade on from Mark Carney’s ‘Tragedy of the Horizon’ lecture at Lloyds Read More »
Key points Recent Bloomberg analysis reveals a striking development in global reinsurance markets – the world’s 19 largest reinsurers have reduced catastrophe exposure by more than 50%. This isn’t a temporary market correction – it’s a fundamental recalibration of risk appetite driven by accelerating climate-related losses. And it’s worrying. The downstream effects are creating acute
Really pleased to see my editorial in today’s Financial Times Sustainable Views. This piece was written in collaboration with Dee Korab, expert in sustainable finance. The full article can be found via this link -> Putting banks and insurers on notice to better manage climate risks In the piece, we pick up on the UK’s
