Tokio Marine invests in Kita

Tokio Marine Group  has made a strategic investment in carbon insurance specialist Kita . Financial terms were not disclosed.

The investment expands Kita’s existing relationship with Tokio Marine Kiln, which has focused on political risk insurance for carbon credit transactions. Kita will now work with other Tokio Marine companies, including Tokio Marine & Nichido Fire Insurance, to develop coverage protecting buyers against the nondelivery of prepaid carbon credits.

The companies will also explore carbon-project risk assessments using satellite analytics. Tokio Marine plans to combine these capabilities with services provided through engineering consultancy Nippon Koei, potentially creating an offering spanning project screening, due diligence, implementation and ongoing monitoring.

London-based Kita is an FCA-regulated Lloyd’s coverholder.