Tokio Marine Partners with R-Cities on Resilience Finance

Tokio Marine Group has teamed up with the Resilient Cities Network (R – Cities) to back the new Resilience Finance Taskforce. This global initiative intends to boost urban resilience by implementing targeted financial and insurance solutions. As the first underwriting partner, Tokio Marine Group will offer its expertise and financial support to assist in developing finance frameworks for more than 100 cities around the world. The partnership was declared during the G20/U20 event in Rio de Janeiro, Brazil.

The Resilience Finance Taskforce has a crucial aim. It seeks to tackle the widening protection gap. Currently, economic losses from climate – related events surpass insurance coverage by over $100 billion each year, which is a 20% increase compared to the previous decade. This situation highlights the urgency of the task at hand.

The Taskforce will concentrate on generating commercially viable project portfolios that enhance cities’ climate resilience. It will bring together cities, financial institutions, and other relevant stakeholders. By doing so, it hopes to draw in long – term investment, which is vital for building more resilient urban environments.

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