Tokio Marine partners with R-Cities on resilience finance

The initiative aims to address a growing protection gap.

Tokio Marine Group has partnered with Resilient Cities Network (R-Cities) to support the new Resilience Finance Taskforce, a global initiative aimed at scaling urban resilience through targeted financial and insurance solutions. 

As the inaugural underwriting partner, Tokio Marine Group will provide expertise and financial backing to help develop finance frameworks for over 100 cities globally. 

The partnership was announced at the G20/U20 event in Rio de Janeiro, Brazil.

The initiative aims to address a growing protection gap, with economic losses from climate-related events exceeding insurance coverage by over $100b per year—a 20% increase from the previous decade. 

The Taskforce will focus on creating commercially viable project portfolios that improve cities’ climate resilience, convening cities, financial institutions, and other stakeholders to attract long-term investment.