Insurance giants AXA and Generali have offered support for the Insurance Development Forum’s (IDF) Infrastructure Resilience Development Blueprint.
This initiative is designed to direct insurance sector investments towards infrastructure projects to bolster the resilience of emerging and developing economies against climate change and natural disasters.
The investments will target various sectors including renewable energy, water, wastewater management, education, healthcare, telecommunications and digital infrastructure.
The IDF is collaborating with BlackRock to implement the Blueprint, leveraging the asset manager’s expertise in infrastructure investment, blended finance and the understanding of the insurance industry’s investment needs.
Through the Blueprint, IDF hopes to create a scalable and replicable model for resilience projects that can be brought to market swiftly, resulting in immediate, measurable benefits for vulnerable communities.
AXA group chief investment officer Jean-Baptiste Tricot said: “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.”
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By GlobalData
Generali group chief investment officer Francesco Martorana said: “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.”
AXA XL, part of AXA, recently appointed Kathleen Ziegler as the new chief operations officer for its insurance operations in the Americas.
Ziegler brings more than 25 years of industry experience to the role, having held senior leadership positions at AIG, Zurich Financial Services, CopperPoint and Blackboard Insurance.
