WTW climate specialists to support Asia Pacific insurers
WTW has launched an Asia Pacific Climate Risk Centre in Singapore as the region transitions to a low-carbon economy.
Over the next three years, the centre will be staffed with a dedicated team of 15 climate specialists to support clients in building resilience against climate risks in the region. It will support insurers, corporates, financial institutions and governments, using proprietary models.
WTW Head of Asia Pacific and Corporate Risk & Broking Asia Pacific Simon Weaver says the region is “on the frontline of climate change,” with economic and population growth set to see it account for more than 70% of global energy demand in coming years.
“Climate risk quantification and management, delivered through WTW’s Centre, is another step forward in delivering on our commitment to offer clients a smarter way to quantify, mitigate and transfer risk,” Mr Weaver said.
WTW CEO Carl Hess says Singapore is an important hub in the region’s drive towards a low-carbon economy, with policy ambitions in green insurance and finance and well-established insurance market infrastructure.