Artio, a climate-focused insurance provider, has launched a data-driven early-stage carbon credit delivery insurance product with support from leading insurers Tokio Marine HCC International (TMHCCI), Markel, and Apollo.
The innovative coverage will be available to businesses globally with immediate effect.
The launch of this insurance product aims to address a critical need in the carbon credit market. By providing risk mitigation for early-stage carbon removal projects, Artio seeks to boost investor confidence and accelerate the supply of high-integrity carbon dioxide removal (CDR) credits.
These credits are essential for corporations and governments striving to meet their 2030 climate commitments.
TMHCCI, a subsidiary of Tokio Marine HCC, is a leading global insurer known for its extensive portfolio across more than 100 specialty insurance classes in over 180 countries. As part of Tokio Marine Group, which has a market capitalization of $70bn as of December 31, 2024, TMHCCI has a strong track record in supporting renewable energy and the green transition, leveraging its 25 years of experience in insuring sustainable initiatives.
Markel, a Fortune 500 company and a major player in global specialty insurance, operates through Markel Group Inc. (NYSE: MKL). With 63 offices in 16 countries, Markel is known for its analytical expertise and financial stability, helping clients navigate complex risks.
Apollo, an innovative insurer within the Lloyd’s market, specializes in tailored risk solutions for emerging and complex sectors. Its commitment to data-driven insurance aligns with the evolving carbon market, ensuring scalable solutions for climate-related risks.
Artio’s new product is designed to provide insurance capacity that enables investors to support carbon removal projects with greater confidence.
By offering risk protection from the outset, the product helps enhance the credibility and growth of the carbon credit market.
Gallagher Re’s Green Solutions team played a key role in Artio’s capacity discussions, strengthening Artio’s presence in the sector. The company has also been supported by DA Strategy and was a participant in Lloyd’s Lab Cohort 13.
Artio’s founding team brings extensive expertise to the table. CEO Bilal Hussain has a strong background in assessing carbon and climate projects from his tenure at Sylvera and Bloomberg. COO Ibrahim Sarwar brings experience in early-stage project finance modelling and risk management from Deloitte.
Tokio Marine HCC chief underwriting officer – marine, energy and renewables Ben Kinder said, “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.”
Markel director – head of warranty & indemnity Bryan Dressler said, “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.”
Artio co-founder & COO Ibrahim Sarwar 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.”
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