Reclaim Finance Letter to Lloyd’s Managing Agents April 2024
Reclaim Finance addresses all managing agents in the world’s largest specialty insurance market, demanding action on climate from their unique position to support the energy transition needed to keep global warming below 1.5°C.
The letter seeks to challenge making catastrophe the norm, with warnings such as each additional tenth of a degree of global warming brings your industry closer to tipping points, highlighting that the symbolic $100 billion/year mark in insured losses from natural disasters has been passed for the 4th consecutive time.
In hope of seeing change, Reclaim Finance wishes to see action prior to their updated report assessing the climate commitments of all Lloyd’s managing agents, due 10th June 2024.