Global insurers AXA and Generali have announced their support for the Insurance Development Forum (IDF)’s Infrastructure Resilience Development Blueprint, an initiative aimed at mobilising and facilitating insurance sector investments in infrastructure that will enhance the resilience of vulnerable communities to risks from climate change and other natural disasters.
The IDF is reportedly working with BlackRock to implement its Blueprint, leveraging the global asset manager’s significant infrastructure investment, blended finance expertise, and familiarity with insurance industry investment requirements.
The IDF explained that its ultimate aim is to provide a replicable, scalable solution for infrastructure resilience projects that can come to market quickly and lead to near-term measurable positive outcomes for the resilience of vulnerable communities.
Michel Liès, Chair of the IDF Steering Committee, said, “We are pleased to have AXA and Generali on board with this pivotal initiative. Their expertise and unwavering commitment have significantly enhanced our collective efforts in constructing resilient infrastructure and protecting communities from climate risks.
“The momentum behind the Infrastructure Resilience Development Blueprint is growing rapidly, and AXA and Generali’s support stands as a strong commitment of the IDF to mobilise impactful insurance sector investments to achieve tangible, near-term results for vulnerable populations.”
Jean-Baptiste Tricot, Group Chief Investment Officer of AXA Group, commented, “Our involvement in the Infrastructure Resilience Development Blueprint reflects our commitment to leveraging insurance sector capabilities to support resilient infrastructure development and protect vulnerable communities in addition to maintaining our usual investments’ objectives including risk selection and returns.”
Francesco Martorana, Generali Group’s Chief Investment Officer, added, “The insurance sector can play a key role in promoting future-proof growth and supporting greater resilience and protection for families, communities, and businesses.
“This is particularly urgent if we consider the increase in natural disasters, where the protection gap is transversal in all markets but even more so in emerging economies.
“Participation in the Infrastructure Resilience Development Blueprint confirms our strategic objective to be an active part of public-private partnerships for the sustainable development of adequate and resilient infrastructure.”
